CITIC Securities recommends focusing on allocation opportunities in precious metals, copper, and aluminum.

According to a research report by Zhongtai Securities, in terms of interest rates, yields on US Treasury bonds of all maturities have continued to hit new highs, with the 30-year yield surpassing levels seen during the 2008 financial crisis, making US Treasury risks not to be underestimated. On the commodities front, the credibility and independence of the Federal Reserve have been further eroded, bringing out the financial attributes of various commodities. Although actual market volatility may remain subdued ahead of the September FOMC meeting, there are strong undercurrents beneath the surface. From the perspective of mitigating medium- to long-term uncertainty, it is recommended to pay attention to precious metals, as well as copper and aluminum, which are highly affected by supply from the Middle East.