According to the Zhongtong Finance APP, Lee Spelman, the head of US stocks at Morgan Asset Management, said that although the yield on 10-year US Treasury bonds has reached 5%, technology stocks are still performing well. Similar to the 1990s, technology stocks performed well under high interest rates. In addition, the US economy may not necessarily enter a recession, and the future upward trend of US stocks is expected to spread from the &#34;Big 7&#34; (Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, Meta) to other industries.Lee Spelman pointed out that the yield on US Treasury bonds has generally remained at a level of 5% to 6% over the past 40 years, so the current level of bond yields will not have a significant impact on the stock market. This year, the &#34;Big 7&#34; of US stocks have performed outstandingly, partly due to market concerns that the US economy may enter a recession. Since technology stocks have a low correlation with the macro economy, they have attracted capital inflows. Unless bond yields rise significantly, the risk of the US economy entering a recession will not increase.Lee Spelman stated that the current interest rates have actually returned to the normal level of the 1990s. The near-zero interest rate environment of the past 15 years is not normal. If interest rates hover at the current level or slightly decrease, the economic environment will be healthier. The &#34;Big 7&#34; of US stocks dominate their respective fields, and it is believed that this situation will continue until new disruptors emerge. It is unlikely that such a situation will occur in the next 18 to 24 months. However, the &#34;Big 7&#34; of US stocks have recently undergone adjustments, and it is recommended that investors broaden their horizons to other sectors of US stocks, such as healthcare stocks that have a large amount of innovation and attractive valuations.

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The future upward trend of the US stock market is expected to spread from the "Big 7" (Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, Meta) to other industries.

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Morgan Asset Management: This year, the "Magnificent 7" of the US stock market have performed exceptionally well, and it is expected that this trend will spread to other industries in the future.