Allianz Investments stated in a document that in terms of macroeconomics, the decrease in inflation and cooling of the job market in the United States are creating room for the Federal Reserve to cut interest rates. The market consensus is that there is a chance for a rate cut one to two times in the second half of this year. The loosening of credit conditions in the United States is good news for various risky assets, especially as many investors have been keeping cash in banks in recent years. If the US begins to cut interest rates in the second half of the year, the returns on bank fixed deposits will decrease. Therefore, it is time for investors to use their cash wisely to aim for more attractive investment returns. However, in recent years, the rise in the US stock market has been mainly led by a few stocks. For example, as of the first half of this year, the S&P 500 index achieved a return of about 15% and reached new highs several times, with many contributions coming from a few tech giants. In addition, with the upcoming US presidential election at the end of the year, the recent attack on one of the presidential candidates, Trump, has added volatility to the market. If investors want to seize the growth story of the US/Canadian market while also being concerned about high market volatility, they may consider adopting a diversified asset strategy. Stocks: The latest economic data triggered fluctuations in the stock market direction, but there have been no major changes in the fundamentals of companies. The economy is still expected to soft-land, and investors should closely monitor the direction of economic data and the trends in the election. Through covered call options strategy, investors can hold long positions in individual stocks while selling call options on related stocks to earn the option premium paid by the buyer, helping investors enjoy the growth potential of the US/Canadian stock market in a diversified manner. When the market experiences volatility, active investors can take the opportunity to acquire quality stocks at better prices. Convertible bonds: Convertible bonds can provide asymmetric return conditions. In simple terms, if the stock market experiences volatility, convertible bonds, with attractive yields, can add defensive strength to the portfolio. If the stock price associated with the convertible bonds rises, investors can also participate in the trend. High-yield bonds: The issuance of high-yield bonds in the United States has been increasing recently, reflecting ample financing channels in the market. Moreover, the US economy is still quite healthy, with low unemployment rates and corporate default rates. Historical data shows that this environment often brings good results for investors. In fact, due to high interest rates in recent years, the returns on US high-yield bonds have been quite attractive. Global investment-grade bonds: With current high coupon rates and sound fundamentals of global companies, low default risks, investing in high-quality bonds can bring decent returns. Furthermore, the trading prices of many global investment-grade corporate bonds are below par, providing downside protection. Historical data shows that in different market conditions, each asset class performs differently: in some years, global stocks perform outstandingly, while in other years, global convertible bonds or global high-yield corporate bonds may take the lead. A globally diversified investment portfolio consisting of various assets helps investors seek return opportunities and create potential for capital appreciation while having lower sensitivity to interest rates, better navigating the complex investment landscape. Investing in asset classes with low correlations can also reduce portfolio volatility, achieving a balance between offense and defense.