The breakthrough threshold of high oil price gray rhino and US10Y (4.43%>4.55%>4.61%) is the main driving force for the market adjustment since last Thursday night. The core logic of the market's small-scale adjustment discussed in this tweet on the afternoon of the 14th (the evening of the 14th is almost the beginning of the US stock adjustment) In fact, Trump's visit to China last week was not as expected by supermarkets. In fact, it was a meeting between China and the United States to jointly manage global risks. The market was concerned that the Iranian issue that Trump said most was being treated coldly by China, and the chip transaction was not mentioned in the economic and trade achievements announced by China. Then over the weekend, the United States rejected Iran's negotiation proposal, and both sides put forward five completely contradictory demands to end the conflict. A few hours after watching CNN's report, Trump summoned Vice President Vance, Secretary of State Rubio, Director of Central Intelligence Ratcliffe, Middle East Special Envoy Vitkov and other dignitaries to his golf club in Virginia to discuss the next policy towards Iran. CNN article analysis shows that Trump is "increasingly impatient" with Iran's diplomatic negotiation style and "frustrated" with the continued closure of the Strait of Hormuz and high oil prices. "Recently, Trump has been more seriously considering resuming large-scale combat operations in Iran," "although he tends to resolve the conflict through diplomacy. What does it mean? Trump is still the first in diplomatic negotiations, but he is also preparing to restart the war. In fact, it can be seen that Trump's patience with negotiation delay is diminishing, His actions will naturally make the market very worried. Being strong in the in-flight market for over a month will exacerbate the panic. Many funds have the motivation to profit and take profits, and the short-term adjustment trend should not be over yet. Please be patient and wait. Next, let's take a look at Us10Y. This is something that the United States can decide, just like the ability of the two Beisen firms to intervene in long-term bond yields before, which they have done before. The core is still the trend of oil prices, of course, oil prices depend on the progress of US Iran negotiations or further escalation of military actions This article is sponsored by @ bitget_zh, titled 'Bitget Buying US Stocks: Instant Entry, Smooth Trading'