The US stock market is now at a record high after the global financial crisis, but the US stock market and the global stock market boom is based on the global central banks' extremely loose monetary policy, and it is mostly conducted through the repurchase program by listed companies . Credit Suisse's research shows that since the US stocks hit a low point in 2009, stocks bought by the US non-financial sector accounted for 18% of the market value, but sold 7% by institutional investors. In view of this, the 8 bullish years of the US stocks are more like a self-directed "carnival" by listed companies. Anbound believes that this means that the Federal Reserve will carry out the shrinking of the balance sheet, accompanied by shrinking market, which would mean the market has not really come out from the financial crisis.