Dwyfor Evans, head of macro strategy for Asia-Pacific at State Street Global Markets, pointed out that investors' confidence in high-risk assets may be excessive. He said at the Asia Securities and Financial Markets Association Asset Management Conference in Singapore that investors are currently buying US stocks, hedging US dollar risk exposure, and selling US Treasuries. Evans expects that as both imported and domestic commodity prices rise, US inflation will gradually rise, stating that "3% has become the new 2%." He added that this is crucial for the Federal Reserve - if the number of rate cuts decreases, the US dollar may rebound. Given the persistently high uncertainty in policies, Evans warned that current market risk positions may be overly optimistic.