Jinshi data news on June 6th, considering the weak macroeconomic data in the United States, the tight exposure of the stock market, and the low volatility, the rate cut by the European Central Bank may have limited impact on the European stock market. Of course, compared with the United States, Europe is indeed in a better situation, and the economy has unexpectedly shown a positive trend. The European Central Bank will also begin to set the pace today, and it is expected that this meeting will cut interest rates by 25 basis points. However, the sharp decline in bond yields recently has not been accompanied by a significant rise in stocks, and investors have begun to show signs of caution. It seems that the United States and Europe have started to reduce long positions in stocks, especially fast money investors such as hedge funds and CTAs, but investors are still heavily long on stocks.