According to CoinMeta, as reported by Cailian News on October 26th, HSBC strategists have adjusted their stance on government bonds in developed markets from a maximum underweight to an overweight position, stating that their performance has lagged behind and is "now considered excessive." At the same time, their stance on stocks has been adjusted from a maximum overweight to neutral. The team led by Max Kettner pointed out that the Middle East and oil, the hawkish stance of the Federal Reserve, and the free cash flow of ultra-large data center operators will be the three major themes for 2027.