The picture below is a somber grey on the left and a sunny orange on the right, depicting the current state of divergence in global economic performance; on the left are emerging markets, which, by and large, are still in a cyclical boom. In the downward stage, it is necessary to cut interest rates to stimulate the economy and increase momentum; on the right are mature countries led by the United States, including Europe and Japan. Taking the United States as an example, the quantitative easing (QE) cycle has already ended, and it is the reciprocal stage of interest rate hikes. Signals have also emerged; as for the European and Japanese markets, they have now entered the middle and late stages of quantitative easing (QE). So the conclusion is that investing in the orange block is all right, right?!

whether it is a gray block, an orange block, or a blue block in the middle area, there are objects that can be laid out or worth laying out between each block. If you go all-in on the orange blocks, you may miss out on the opportunity to profit from the current low valuations of the gray or blue blocks, but we don’t dare to bet on the gray and sms services blue blocks, because we don’t know when they will boom will recover. It is precisely because economic activities continue to move forward like the flow of time, and there is no pause for a moment. Therefore, the economic cycle is also constantly evolving. During this period, various income assets will take turns to play the leading role and take over the baton, and the performance of each market business cycle will be

different. It is quite inconsistent. At this stage, only by following the economic cycle around the world with a high degree of flexibility, overweighting strong-yielding assets and underweighting weaker targets, can we stabilize the income in our hands and maintain profits. In the face of a dizzying array of local stocks, high-yield bonds, high-yield stocks, emerging market bonds, REITs, convertible bonds, and credit-rated bonds, how should you choose? Remaining strong global multi-income funds can incorporate these income targets into assets. In fact, it is a good and simple investment choice when faced with the divergence of global economic performance at this stage. Be careful! The market is very lively before and after the Fed rate hike! In particular, based on past experience, before and after the U.S.