:root{--navy:#102c47;--ink:#1c2937;--muted:#667587;--line:#e3e7ec;--card:#f7f8fa;--red:#bd4b49;--green:#238165;--gold:#9b782d}*{box-sizing:border-box}html{scroll-behavior:smooth;scroll-padding-top:82px}body{margin:0;color:var(--ink);background:#fff;font-family:-apple-system,BlinkMacSystemFont,"Segoe UI","PingFang SC","Microsoft YaHei",sans-serif;font-size:14px;line-height:1.65;-webkit-font-smoothing:antialiased}.container{width:min(1120px,calc(100% - 80px));margin-inline:auto}a{color:inherit;text-decoration:none}a:hover{text-decoration:underline;text-underline-offset:4px}button,input{font:inherit}button{cursor:pointer}button:focus-visible,a:focus-visible,input:focus-visible,summary:focus-visible{outline:3px solid #c09840;outline-offset:4px}button[hidden],[hidden]{display:none!important}.skip{position:fixed;top:-80px;left:16px;background:white;padding:12px;z-index:100}.skip:focus{top:12px}.hero{background:var(--navy);color:#fff;padding:0 0 34px}.masthead{display:flex;justify-content:space-between;align-items:center;padding-block:20px;border-bottom:1px solid #ffffff1c;margin-bottom:25px;font-size:12px;letter-spacing:.07em}.brand{font-weight:750;letter-spacing:.15em}.brand span{font-weight:400;color:#b2c3d2;letter-spacing:.04em;margin-left:10px}.header-actions{display:flex;gap:23px;align-items:center;color:#c5d0db;letter-spacing:0}.print-button{border:0;background:transparent;color:inherit;padding:3px 0}.print-button:hover{color:white}.edition{font-size:12px;color:#aebed0;display:flex;align-items:center;gap:8px;letter-spacing:.12em}.edition-dot{width:6px;height:6px;background:#c5a466;border-radius:50%}.edition-no{font-size:10px;letter-spacing:.15em;opacity:.7;margin-left:7px}h1{font-size:37px;letter-spacing:.035em;line-height:1.35;margin:12px 0 16px;font-weight:700}.dateline{color:#b7c5d4;font-size:14px;margin:0}.dateline span{margin-inline:12px;color:#667d94}.hero-tags{display:flex;gap:10px;flex-wrap:wrap;margin-top:21px}.hero-tags>span{font-size:12px;border:1px solid #ffffff30;border-radius:20px;padding:4px 13px;color:#c9d3de}.chapter-nav{border-bottom:1px solid var(--line);background:#fffffff5;position:sticky;top:0;z-index:5;backdrop-filter:blur(10px)}.chapter-nav .container{display:flex;gap:30px;align-items:center;min-height:50px;font-size:13px;color:#576b7d}.chapter-nav a{padding:13px 0;border-bottom:2px solid transparent}.chapter-nav a:hover{color:var(--navy);text-decoration:none;border-color:#ad8a49}main{padding-top:6px}section{margin-top:31px}.section-heading{display:flex;align-items:baseline;gap:14px;margin-bottom:17px;flex-wrap:wrap}h2{font-size:23px;font-weight:700;color:var(--navy);letter-spacing:.035em;margin:0;display:flex;align-items:center;gap:11px;line-height:1.4}.section-number{display:inline-flex;width:30px;height:31px;align-items:center;justify-content:center;font-size:17px;border-radius:7px;background:var(--navy);color:#fff;letter-spacing:0;font-weight:600}.section-note{font-size:12px;color:#7a8796}.grid{display:grid;gap:15px}.assets-grid{grid-template-columns:repeat(4,minmax(0,1fr))}.three-grid{grid-template-columns:repeat(3,minmax(0,1fr))}.card{background:var(--card);border:1px solid var(--line);border-radius:14px}.asset{padding:19px 18px 14px;min-width:0}.asset-name{font-size:17px;color:#566577;line-height:1.5}.asset-name>span{font-size:10px;display:block;color:#778493;letter-spacing:.03em}.price{font-size:30px;font-weight:700;letter-spacing:-.025em;font-variant-numeric:tabular-nums;line-height:1.3;margin-top:7px}.asset-meta{font-size:10px;color:#748190;margin:4px 0 8px}.returns{display:flex;gap:18px;font-size:12px;font-variant-numeric:tabular-nums}.returns>span{color:#6d7a89}.change{font-weight:650;font-variant-numeric:tabular-nums;white-space:nowrap}.up{color:var(--red)}.down{color:var(--green)}.flat{color:var(--muted)}.spark{display:block;width:100%;height:37px;margin:11px 0 12px;stroke:#8b9daf;stroke-width:1.7}.spark-base{stroke:#dfe5eb;stroke-width:1;stroke-dasharray:3 3}.tag{border-radius:20px;display:inline-block;padding:2px 10px;font-size:12px;font-weight:600}.balanced{color:#8c6b25;background:#f4ecd8}.bear{color:#287a62;background:#e4f0eb}.bull{color:#ab4442;background:#f9e7e7}.opinion-label{font-size:10px;color:#7a8794;margin-left:8px}.reason{font-size:12px;line-height:1.8;color:#647181;margin:11px 0 12px;min-height:44px}.watch{padding-top:10px;border-top:1px dashed #d7dfe7;font-size:11px;color:#687787}.watch b{font-weight:500;color:#415b73}.ref{font-size:10px;color:#557a9b;font-weight:600;white-space:nowrap}.evidence{font-size:11px;color:#667b8c;margin-top:10px}.evidence summary{cursor:pointer;list-style:none;display:inline-block}.evidence summary:before{content:'＋';font-size:12px;margin-right:5px}.evidence[open] summary:before{content:'−'}.evidence summary:hover{color:var(--navy)}.evidence-body{padding-top:4px;line-height:1.8;overflow-wrap:anywhere}.evidence-body p{margin:6px 0}.evidence ul{list-style:none;padding:0;margin:5px 0 0}.evidence li+li{margin-top:6px}.evidence li span{display:block;color:#788592;font-size:10px}.evidence li a{text-decoration:underline;text-underline-offset:3px}.section-footnote{font-size:10px;color:#7c8793;margin:12px 0 0}.macro{padding:20px 18px 14px;position:relative}h3{margin:0;color:var(--navy);font-size:16px;line-height:1.55;font-weight:650}.macro h3{display:flex;align-items:center;gap:9px}.letter{display:inline-flex;flex:0 0 24px;width:24px;height:24px;align-items:center;justify-content:center;color:#fff;border-radius:5px;font-size:14px}.letter-0{background:#9f5354}.letter-1{background:#4b7197}.letter-2{background:#9c7a32}.bullets{padding-left:15px;margin:15px 0 13px;font-size:12px;color:#627181;line-height:1.9}.bullets li{padding-left:1px;margin-block:4px}.bullets li::marker{color:#b7c4d0}.interpretation{font-size:11px;color:#617184;border-top:1px solid var(--line);padding-top:11px;margin:0;line-height:1.9}.interpretation b{font-weight:600;color:#3c566f}.footrefs{text-align:right;margin-top:4px}.market{padding:19px 19px 15px}.market h3{display:flex;justify-content:space-between;align-items:center}.market-code{font-size:10px;letter-spacing:.12em;color:#8c99a6;font-weight:500}table{width:100%;border-collapse:collapse;margin-top:14px;font-size:13px;table-layout:auto}caption{text-align:left;color:#7c8795;font-size:10px;margin-bottom:6px}th{font-weight:400;color:#586b7c;text-align:left}th,td{padding:8px 0;border-bottom:1px dashed #dfe4e9}td{text-align:right;font-variant-numeric:tabular-nums;font-weight:600}td:last-child{padding-left:8px;width:70px}.market-comment{color:#667484;font-size:12px;line-height:1.9;margin:13px 0 0;min-height:69px}.market-strip{border-top:1px solid var(--line);font-size:11px;color:#748190;padding-top:11px;margin-top:13px}.market-strip b{font-weight:600;color:#516478}.news-toolbar{display:flex;justify-content:space-between;align-items:center;gap:15px;margin-bottom:10px}.filters{display:flex;flex-wrap:wrap;gap:5px}.filters button{font-size:11px;border:1px solid transparent;border-radius:5px;background:transparent;color:#63778b;padding:5px 10px}.filters button:hover{background:#f1f4f7}.filters button[aria-pressed=true]{background:var(--navy);color:white}.search{display:flex;align-items:center;gap:8px;font-size:11px;color:#718294}.search input{border:1px solid #dde3ea;border-radius:6px;padding:6px 9px;width:190px;color:var(--ink);background:#fff;font-size:12px}.filter-status{font-size:10px;color:#85919e;margin:0 0 15px}.news-grid{grid-template-columns:repeat(2,minmax(0,1fr));gap:12px}.news{padding:16px;display:flex;gap:11px;align-items:flex-start}.news-num{display:flex;align-items:center;justify-content:center;width:26px;height:26px;flex:0 0 26px;border-radius:7px;color:white;background:var(--navy);font-size:13px;font-weight:650;margin-top:2px}.news-content{min-width:0;flex:1}.news-meta{display:flex;align-items:center;gap:9px;font-size:9px;color:#7d8a98;line-height:1.4;margin-bottom:6px;flex-wrap:wrap}.news-meta>span:first-child{color:#54728e}.news-meta .background-tag{border:1px solid #d9e0e7;padding:0 4px;border-radius:3px;font-size:9px}.news h3{font-size:15px;line-height:1.6}.news p{font-size:12px;color:#6c7988;line-height:1.85;margin:6px 0}.news-impact{font-size:11px;color:#65798c;line-height:1.8}.news-impact b{font-weight:500;color:#405d78}.news .evidence{font-size:10px;margin-top:7px}.themes{grid-template-columns:1fr 1fr;margin-top:20px;gap:12px}.theme{border-radius:11px;padding:14px 17px}.theme h3{font-size:13px;color:inherit}.theme h3>span{font-size:16px}.theme h3 small{font-size:9px;font-weight:400;margin-left:8px;opacity:.75}.theme p{font-size:12px;line-height:1.9;margin:6px 0 0}.positive{background:#faebeb;color:#96504e}.negative{background:#eaf4ef;color:#427962}.conclusion{background:var(--navy);border-radius:17px;padding:25px 28px 24px;color:#c6d3de;margin-top:31px}.conclusion h2{color:#b7c9db;font-size:16px;letter-spacing:.05em}.conclusion-lead{font-size:20px;color:#fff;margin:10px 0 18px;letter-spacing:.02em;font-weight:500}.conclusion dl{margin:0;font-size:12px;line-height:1.9}.conclusion dl>div{display:flex;margin-top:8px;gap:14px}.conclusion dt{color:#d0af62;flex:0 0 28px;font-weight:600}.conclusion dd{margin:0}.sources-section{margin-top:34px}.source-policy{display:grid;grid-template-columns:repeat(3,1fr);gap:25px;border-block:1px solid var(--line);padding:17px 0;margin-bottom:13px}.source-policy b{font-size:12px;color:#3b536a}.source-policy p{font-size:11px;color:#7c8896;line-height:1.8;margin:5px 0 0}.source-directory>summary,.corrections>summary{cursor:pointer;color:#526d84;font-size:12px;padding:12px 0}.source-directory>summary span{margin-left:10px;font-size:10px;color:#8693a0}.source-list{padding:0;list-style:none;margin:0;display:grid;grid-template-columns:1fr 1fr;gap:0 24px}.source-list>li{scroll-margin-top:80px;border-top:1px solid var(--line);padding:13px 0}.source-list>li>div{display:flex;gap:12px}.source-index{font-size:11px;color:#9ca8b4;font-variant-numeric:tabular-nums;min-width:20px}.source-list a{font-size:12px;font-weight:600;color:#365872}.source-list p{font-size:11px;color:#72808e;margin:4px 0;line-height:1.8}.source-date{font-size:9px;color:#8995a1}.corrections{border-top:1px solid var(--line)}.corrections ul{font-size:12px;color:#6d7c8a;line-height:1.9;padding-left:18px}.corrections li{margin-bottom:7px}.footer{border-top:1px solid var(--line);padding:18px 0 28px;margin-top:27px;color:#8a96a2;font-size:10px;line-height:1.9}.footer p{margin:0 0 3px}.footer>div{display:flex;gap:22px;margin-top:10px;color:#6b8093}.empty-state{padding:45px;text-align:center;color:#7a8795;background:#f7f8fa;border:1px dashed var(--line);border-radius:12px}.empty-state button{border:0;background:none;color:#3b6488;text-decoration:underline;padding:0}.source-list li:target{background:#fff8e8;outline:6px solid #fff8e8;border-radius:4px}@media(min-width:1400px){.container{width:1120px}}@media(max-width:1000px){.container{width:calc(100% - 48px)}.assets-grid{gap:12px}.asset{padding:16px 13px}.price{font-size:27px}.three-grid{gap:12px}.market{padding:17px 14px}.market table{font-size:12px}.market td:last-child{width:60px}.macro{padding:18px 15px}h3{font-size:15px}.news-toolbar{align-items:flex-start}.filters{gap:2px}.filters button{padding:5px 7px}}@media(max-width:760px){.container{width:calc(100% - 36px)}.masthead{padding-block:15px;margin-bottom:20px}.header-actions{gap:12px;font-size:10px}.brand span{display:none}.hero{padding-bottom:26px}h1{font-size:29px;margin-bottom:14px}.dateline{font-size:11px;line-height:2}.dateline span{margin-inline:7px}.hero-tags{gap:7px;margin-top:16px}.hero-tags>span{font-size:10px;padding:4px 9px}.chapter-nav .container{gap:0;justify-content:space-between;min-height:46px;font-size:11px}.assets-grid{grid-template-columns:repeat(2,minmax(0,1fr))}.three-grid{grid-template-columns:1fr}.macro{padding:18px 19px}.bullets{margin-block:12px;line-height:1.9}.market-comment{min-height:0}.market table{font-size:13px}.market td:last-child{width:90px}.market{padding:19px}.section-heading{gap:7px;margin-bottom:14px}.section-heading .section-note{margin-left:40px;font-size:10px}h2{font-size:20px;gap:9px}.section-number{width:28px;height:29px;font-size:15px}.news-grid{grid-template-columns:1fr}.news-toolbar{flex-direction:column;gap:12px}.search{width:100%}.search input{flex:1;width:100%;min-width:0}.news{padding:16px}.themes{grid-template-columns:1fr}.source-policy{grid-template-columns:1fr;gap:14px}.source-policy p{margin-top:3px}.source-list{grid-template-columns:1fr}.conclusion{padding:23px 21px}.conclusion-lead{font-size:19px;line-height:1.65}.conclusion dl>div{gap:10px}.source-directory>summary span{display:none}.footer>div{gap:18px;flex-wrap:wrap}}@media(max-width:360px){h1{font-size:25px}.price{font-size:25px}.asset{padding-inline:11px}.returns{gap:11px}.opinion-label{display:block;margin:5px 0 0}}@media(prefers-reduced-motion:reduce){html{scroll-behavior:auto}}@media print{html{scroll-padding:0}body{font-size:11px}.container{width:100%}.hero{print-color-adjust:exact;-webkit-print-color-adjust:exact;padding-bottom:20px}.masthead{padding-top:10px}.chapter-nav,.header-actions,.news-toolbar,.filter-status,.footer>div,.empty-state{display:none!important}h1{font-size:28px}h2{font-size:18px}.hero-tags>span{font-size:10px}.section-heading{margin-bottom:10px}section{margin-top:22px}.card,.theme,.conclusion{break-inside:avoid;print-color-adjust:exact;-webkit-print-color-adjust:exact}.assets-grid{grid-template-columns:repeat(4,minmax(0,1fr))}.three-grid{grid-template-columns:repeat(3,minmax(0,1fr))}.news-grid{grid-template-columns:1fr 1fr}.news[hidden]{display:flex!important}.evidence:not([open]){display:none}.source-directory:not([open]),.corrections:not([open]){display:none}.asset{padding:12px}.price{font-size:23px}.asset-name{font-size:14px}.reason{font-size:10px}.returns{gap:8px;font-size:10px}.themes{grid-template-columns:1fr 1fr}.source-policy{grid-template-columns:repeat(3,1fr)}.footer{margin-top:15px}}
.opinion-label{display:inline-block;white-space:nowrap}@media(max-width:760px){.opinion-label{display:block;margin:5px 0 0}}