Morning Briefing at 8 (2026/7/31)

English summary

### Morning Briefing at 8 (2026/7/31) Time: 2026-07-31 07:47:29 Content: From a researcher's perspective, we collect all financial news from after the previous trading day's close to the time of publication, and distill 8-10 key points with the greatest market impact, published before 8:00 each trading day. Morning Briefing at 8—all selected. 1. Macro: 1. Interpretation of important meetings: 2. US core inflation data improves, lowering rate hike expectations: Last night, data from the Bureau of Economic Analysis showed that the June PCE price index fell 0.1% month-over-month, the first decline since 2020, with YoY growth slowing from 4.1% in May to 3.7%; the more closely watched core PCE rose only 0.1% MoM, significantly cooling from 0.3% in May, with YoY slowing from 3.4% to 3.3%. Both data points marginally weakened the urgency for the Fed to hike rates this year.…