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Fitch Ratings: US state and local governments (economies) are expected to return to normal in 2025. Steady reserves, reduced liabilities, and prudent budget management have prepared American state and local governments for 2025.Nymex January natural gas futures closed up about 6.80% to $3.3780 per million british thermal unit.Fitch: Steady reserves, reduced liabilities, and prudent budget management have prepared American state and local governments for 2025.

The German Chancellor formally proposed a vote of confidence to the Parliament, and German Chancellor Angela Scholz formally proposed to the German Bundestag (the lower house of parliament) on the 11th that a vote of confidence will be held on the 16th. There are 733 members in the German Bundestag. In order to gain the trust of the Bundestag, Scholz must get more than 367 votes to remain in power. However, at present, only the parliamentary group of the German Social Democratic Party with 207 members has expressed its support for the Prime Minister. The parliamentary group of the Green Party, the ruling partner with 117 members, is expected to abstain in the vote of confidence, while the largest opposition Christian Democratic Union will not support Scholz. German media generally believe that Scholz will not be able to vote by confidence unless there is an accident. (Xinhua News Agency)FBI Director Wray will resign before Trump takes office, ending his term ahead of schedule. Christopher Wray, director of the US Federal Bureau of Investigation (FBI), announced that he will resign before President-elect Trump takes office (sworn in on January 20, 2025), ending his historic and turbulent term as the head of the highest law enforcement agency in the United States ahead of schedule. Wray said in a statement that he plans to resign at the end of Biden's presidency next month. Trump, who will take office on January 20, made it clear that he will not be allowed to continue as the director of the FBI, although Wray's 10-year term will not end until 2027. Trump posted on Truth Social on November 30th that he planned to nominate loyal ally Kash Patel as the director of the FBI.Imperial Commercial Bank of Canada: cut the preferential loan interest rate in Canada by 50 basis points to 5.45%.

Securities Daily: Vigorously boosting consumption is the focus of macro-policy at present. The the Political Bureau of the Communist Party of China (CPC) Central Committee meeting held on December 9 pointed out that it is necessary to vigorously boost consumption, improve investment efficiency and expand domestic demand in all directions. At present, China is in the stage of rapid growth of service consumption. In the future, all parties should continuously optimize and expand service supply, better stimulate the endogenous kinetic energy of service consumption, and provide strong support for expanding domestic demand and stimulating the economy. Promoting consumption is the main starting point for expanding domestic demand, and boosting consumption is the focus of macroeconomic policy. We firmly believe that with the continuous efforts of various policy initiatives, consumer confidence will continue to increase and consumption potential will continue to be released.Peter Orsag, CEO of Lazard Financial Consultant: Geopolitical concerns are bringing more downside risks.Optimize the layout of branches. Brokers accelerate the transformation of wealth management. Recently, a number of brokers announced the cancellation of business offices to further optimize the layout of business outlets. According to insiders, the cancellation or establishment of a new business department of a securities company is mainly due to the strategic development of the company and the consideration of meeting the diversified needs of investors. Facing the increasingly fierce competition in the brokerage market, brokerage branches need to increase the application of financial technology in order to implement the wealth management strategy more effectively. (CSI)