Global Macro Inflection Point: Focused Strategy on Monopolistic Value Chains

# 🌅 Global Macro Synthesis and Morning Market Outlook Overnight global financial markets faced a dual pressure of inflation concerns and credit spread tensions, as **the US 10-year Treasury yield surpassed the 5% psychological threshold at 5.01%** and **WTI crude oil futures broke above the $100 mark to $101.21 per barrel**, despite **the robust buffer provided by the Fed's net liquidity ($5,869.2B)**. Crucially, **the USD/KRW exchange rate stabilizing downwards to 1,380.1 KRW** (compared to 1,380.8 KRW a month ago) continues to provide foreign investors with a favorable currency gain environment. Consequently, rather than a broad-based market rally, today's opening will likely feature an intense concentration of capital into monopolistic value chains capable of passing on cost pressures—such as top-tier export leaders, core HBM semiconductor suppliers, and defense/energy exporters. # 🎯 Core Trading Strategy and Risk Management The key to today's market execution is to refrain from aggressive chasing at the open and instead **capture pullback reentry points on market leaders that have decisively broken through major resistance lines accompanied by robust trading volume**.