---
title: "Northeast Securities Liao Bo: Spring Layout \"First Energy, Then Agricultural Products\""
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/279285796.md"
description: "Liao Bo, Chief Macro Economist at Northeast Securities, stated at the \"Bay Area Financial Leaders Conference\" that the spring investment layout should be \"first energy and chemicals, then agricultural products.\" He pointed out that historical commodity cycles show that agricultural products are usually the last stage of the cycle, and this summer's climate changes may affect supply, enhancing the strategic attributes of agricultural products and leading to an expanded price increase potential. Liao Bo also mentioned that the energy and chemicals sector has a complex market, requiring investors to carefully dig for opportunities"
datetime: "2026-03-16T14:39:14.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/279285796.md)
  - [en](https://longbridge.com/en/news/279285796.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/279285796.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/279285796.md) | [繁體中文](https://longbridge.com/zh-HK/news/279285796.md)


# Northeast Securities Liao Bo: Spring Layout "First Energy, Then Agricultural Products"

**Southern Finance and Economics 21st Century Economic Report Journalist Yuan Sijie Hong Kong Report**

"From the historical rotation pattern of commodity cycles, after precious metals and industrial metals have successively gained strength, agricultural products often represent the final battle of the cycle. Coupled with the potential impact of climate phenomena on the supply side this summer, as well as the enhancement of the strategic attributes of agricultural products under the geopolitical landscape, the elasticity on both the demand and supply sides will jointly amplify the price increase space for agricultural products," said Liao Bo, Chief Macro Analyst at Northeast Securities Research Institute, at the "Bay Area Financial Leaders Forum" event, indicating that the investment strategy for spring is "first energy, then agricultural products."

On March 11, the "Bay Area Financial Leaders Forum" hosted by Southern Finance All-Media Group was held in Hong Kong. The event, themed "Vision 2026—Two Sessions Policy Interpretation and Spring Investment Outlook," brought together chief economists and market strategists from multiple leading financial institutions for a high-level, in-depth dialogue.

Liao Bo reminded that the current market performance of the energy and chemical sector is very complex, with both risk premiums from geopolitical conflicts and deep-seated logic of European capacity exit and global market share reshaping. In this field, the driving forces of different varieties are distinctly different, requiring investors to conduct refined digging to capture opportunities truly driven by profit improvement

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