JPMorgan Chase's Strategic Research Department's meeting minutes indicated that one of the core signals from the conference was the potential for both equities and U.S. Treasury yields to rise simultaneously. JPMorgan Chase equity strategists set an S&P 500 year-end target of 8,000 points, believing that AI-driven capital expenditures and resilient earnings provide core support, and valuations have not yet reached extreme levels. The report also pointed out that rising long-term yields are a global structural trend, with fiscal deficits, Treasury issuance volume, and term premiums being the core drivers, and the total U.S. debt has reached $40 trillion.