Since September, Western nations from Europe to Japan have witnessed an unprecedented wave of selling in their medium- and long-term bond markets.

Under this wave of selling pressure, core Western countries including the United Kingdom, United States, France, and Japan have all experienced rare scenarios of plummeting long-term government bonds and soaring yields. Among these, the 30-year government bond yields of the UK, France, Japan, and Germany have all reached new highs spanning over a decade. On Wednesday, the benchmark 30-year U.S. Treasury yield broke through the closely-watched psychological threshold of 5%. Meanwhile, the UK's 30-year government bond yield climbed to 5.75%, hitting its highest level since 1998, while Japan's 20-year government bond yield also touched its highest point since the turn of the century.

A global bond selloff is deepening, with this pressure eroding the value of government bonds traditionally viewed as among the world's safest assets, pushing long-term bond yields to multi-decade highs.

What makes this particularly unusual is that this round of surging government bond yields across Europe, America, and Japan is occurring as the Federal Reserve prepares to begin another rate-cutting cycle in September, during a phase when global short-term rates centered around the U.S. dollar are declining.

On September 8th at 7:30 PM Beijing time, Mr. Hu Gang, Founder and CIO of Winshore Capital and former Vice President of PIMCO, the world's largest bond fund, will go online from New York to host an Alpha exclusive private sharing session. He will discuss and exchange views on how to respond to the global bond market selloff and analyze asset allocation logic under the changing U.S. political and economic system.

Hu Gang currently serves as Founder and Chief Investment Officer of U.S. hedge fund WinShore Capital. Previously, he served as Portfolio Manager at BlueCrest Capital Management LLP, focusing on global macro trading, particularly in inflation markets.

Mr. Hu Gang brings over 20 years of financial market experience, having served as Managing Director at Credit Suisse and Executive Vice President at Pacific Investment Management Company (PIMCO), one of the world's largest bond funds. He holds a Bachelor's degree in Applied Mathematics from Tsinghua University in Beijing, China, and a Ph.D. in Applied Mathematics from the California Institute of Technology.

This sharing session includes a special 30-minute Q&A interactive segment, allowing participating members to receive answers and insights from Mr. Hu Gang on their most pressing concerns.

On the evening of September 18th, renowned economist and author of "Witnessing the Counter-Tide," Mr. Fu Peng, will host an Alpha exclusive private sharing session. He will discuss the new trends conveyed by the recently concluded September Federal Reserve meeting and share his latest research on major asset classes including stocks, bonds, commodities, foreign exchange, and gold, helping everyone understand the underlying allocation logic and key timing.

The Alpha exclusive private sharing sessions are services provided for high-net-worth users, with at least 20 sessions scheduled for the full year 2025, averaging 5 sessions per quarter. We focus on market hotspots and core issues of concern, inviting global top experts for exclusive online sharing sessions and Q&A sessions to help users understand asset movement trends and support critical personal decisions.

The distinguished speakers who have served as hosts for our Alpha exclusive private sharing sessions in 2025 include:

Xu Xiaoqing, Chief Economist at Dunhe Asset Management Wu Ge, Chief Economist at Changjiang Securities Fu Peng, Renowned Economist, Author of "Witnessing the Counter-Tide" Liu Chenming, Chief Strategy Analyst at GF Securities Winner of New Fortune Best Strategy Analyst First Place for consecutive years 2023 and 2024 Mou Yiling, Chief Strategy Officer at Sinolink Securities Xia Chun, Chief Economist at Shanghai Capital Group Zhang Yu, Deputy Director of Huachuang Securities Research Institute, Chief Macro Analyst Zhang Jingjing, Chief Macro Analyst at China Merchants Securities Wang Kaiwen, Chief Strategist and Head of Research at Clocktower Group Graduate of Johns Hopkins University School of Advanced International Studies, former employee of the International Monetary Fund Cheng Tan, Founder and Research Director of GMF Research Former Senior Economist at State Administration of Foreign Exchange Central Foreign Exchange Business Center, Vice President of Asset Allocation Department Cao Jingnan, Head of Quantitative Research at Orient Securities Research Institute, Chief Analyst of Strategic and Geopolitical Research Liu Weilin, India Fund Manager at ICBC Credit Suisse, Deputy Investment Director of Index and Quantitative Investment Department Ma Xiaolin, Dean of Mediterranean Research Institute at Zhejiang International Studies University, former Middle East correspondent for multiple years

In the second half of 2025, we will invite more leading experts from various fields to bring more exciting exclusive sharing sessions. Welcome to join the 2025 Alpha exclusive private sharing session semi-annual membership, which currently includes participation in 5 events including this session.