Core Insights - The fund has net assets amounting to $42,892,368,451 as of February 10, 2026 [2] - The fund is listed on the NYSE Arca and its reference benchmark is the LBMA Silver Price [2] - The indicative basket amount is 45,302.00 as of February 10, 2026, with a total of 521,370,990.90 ounces in trust [2] Asset Details - The basket amount is recorded at 45,302.70 as of February 10, 2026 [2] - The premium/discount is noted at 4.43 as of February 09, 2026 [2] - The mid-point price is $76.00 as of February 09, 2026 [2] Trading Metrics - The 30-day average volume is reported as 9 [2] - The daily volume is also recorded as 9 [2] - The 30-day median bid/ask spread is 0.01% as of February 09, 2026 [2]

Market Overview - The New York stock market showed mixed results on February 10, with the Dow Jones Industrial Average rising by 52.27 points to close at 50188.14, a gain of 0.10%. In contrast, the S&P 500 index fell by 23.01 points to 6941.81, a decline of 0.33%, and the Nasdaq Composite dropped by 136.196 points to 23102.474, a decrease of 0.59% [1] Economic Data - The U.S. Department of Commerce reported that retail and food service sales for December 2025 were $735 billion, showing no month-over-month growth, significantly below the market consensus expectation of 0.4% and the previous month's increase of 0.6% [1] - The Atlanta Federal Reserve's GDPNow model updated its forecast for U.S. GDP growth in the fourth quarter of 2025 to 3.68%, down from the previous day's estimate of 4.22% and January's forecast of over 5% [1] Consumer Sentiment - Anthony Saglimbene, Chief Market Strategist at Ameriprise, highlighted concerns regarding the job market for middle and low-income consumers, suggesting that weaker-than-expected job growth in January could further pressure the stock market [2] Federal Reserve Commentary - Beth Hammack, President of the Cleveland Federal Reserve, indicated that the Federal Reserve may maintain current interest rates for an extended period, as rates are currently in a neutral range [2] - Lorie Logan, President of the Dallas Federal Reserve, expressed concerns about persistent inflation and its implications for the labor market, suggesting that if inflation continues to decline and the job market cools, it could support the case for interest rate cuts [3] Company Performance - Coca-Cola reported a net operating revenue of $11.822 billion for the fourth quarter of 2025, a 2% year-over-year increase, but below the market consensus of $12.03 billion. This marked the first time in five years that the company's revenue fell short of expectations, with the stock price declining by 1.49% to $76.81 per share [3]

Core Insights - The Science and Technology Innovation Board (STAR Market) has welcomed a new company, Electric Science and Technology Blue Sky, bringing the total number of listed companies to 603, highlighting its role as a hub for "hard technology" enterprises in China [2] - The STAR Market Composite Index has gained significant attention, with a sample size of 580 stocks and a market capitalization coverage exceeding 90%, indicating a notable growth effect [2][3] - Nearly 60% of STAR Market companies have reported a year-on-year increase in net profit, with 39 companies experiencing a substantial growth of over 100% [3] STAR Market Overview - The STAR Market is characterized by a development pattern of "chain leader guidance and upstream-downstream collaboration," particularly in strategic emerging industries such as new-generation information technology, biomedicine, and high-end equipment manufacturing [2] - The STAR Market Composite Index has become one of the four core broad-based indices in A-shares, providing a vital tool for domestic and international investors to observe and share in the dividends of China's new productive forces [2] Performance and Growth - As of February 9, 2026, 391 companies on the STAR Market have disclosed their expected performance for 2025, with over 60% of them showing a year-on-year increase in net profit [3] - The total R&D investment of STAR Market companies reached 132.864 billion yuan in the first three quarters of 2025, which is 2.7 times the net profit of the sector, with a median R&D investment ratio of 12.5% of operating income, significantly higher than other A-share sectors [3] Reform and Development - The STAR Market has undergone three rounds of systematic reforms aimed at enhancing the inclusiveness and adaptability of the capital market, supporting various types of companies, including unprofitable and special equity structure enterprises [4] - Since the introduction of the "STAR Market Eight Articles," over 170 new merger and acquisition transactions have been recorded, totaling more than 90 billion yuan, with a transaction completion rate of nearly 70% [5] Index and Product Ecosystem - The STAR Market Composite Index has shown a steady upward trend since its launch, with an increase of approximately 63% as of February 10, 2026 [6] - A complete product chain has been established, including ETFs, linked funds, and enhanced products, with 49 fund managers launching a total of 81 STAR Market Composite Index funds, achieving a combined scale of 25.8 billion yuan [6]

Core Viewpoint - The public announcement of the "Shanghai Metropolitan Area Land Spatial Planning (2025-2035)" draft marks a significant step towards deeper integration governance within the Shanghai metropolitan area, which is crucial for the overall development of the Yangtze River Delta region [1][2]. Expansion Logic - The evolution of the Shanghai metropolitan area has transitioned from local exploration to a national strategy, with the planning scope expanding from "1+8" cities to "1+13" cities, now including Hangzhou, Shaoxing, Taizhou, Yancheng, and Xuancheng [2][3]. Spatial Structure - The planning draft introduces a three-tier spatial structure that goes beyond conventional definitions of metropolitan areas, focusing on cross-regional governance and functional integration rather than merely commuting distances [4][5][6]. Strategic Value - The planning draft aims to address structural contradictions in the Yangtze River Delta's development, emphasizing the need for unified spatial planning to enhance collaborative efficiency and eliminate barriers to resource flow [8][9].

Core Viewpoint - The retail sales month-on-month growth rate in the United States for December 2025 recorded 0%, falling short of the expected 0.4% and down from the previous value of 0.6% [1] Group 1 - The actual retail sales growth rate of 0% indicates a stagnation in consumer spending during December 2025 [1] - The expectation of 0.4% growth suggests that analysts anticipated a slight increase in retail activity, which did not materialize [1] - The decline from the previous month's growth rate of 0.6% further highlights a potential slowdown in the retail sector [1]

新华财经内罗毕2月10日电（记者李卓群）肯尼亚国家统计局（KNBS)发布的最新数据显示，肯尼亚标 轨铁路（包括蒙内铁路和内马铁路一期）2025年客货运量和收入预计实现同步增长，运营表现稳健，发 展态势良好。 2025年肯尼亚标轨铁路客货运均呈增长趋势，收入增幅高于运量，整体运营效益持续提升。 （文章来源：新华财经） 客运方面，2024年，标准轨铁路累计发送旅客244.70万人次，实现客运收入409.85亿肯先令（约22.06亿 元人民币）。预计2025年旅客发送量将达273.14万人次，同比增长约11.6%，客运收入将升至479.39亿 肯先令（约25.81亿元人民币），同比增长17%。收入增幅高于运量增幅，显示铁路通过优化票价和提 升服务，有效提高了客单价，实现了客运从"以量取胜"向"量质并升"的转变。 货运方面，2024年货运量653.09万吨，收入1397.42亿肯先令（约75.23亿元人民币）。2025年预计货运 量将增至748.32万吨，同比增长14.6%，货运收入将达1663.76亿肯先令（约89.55亿元人民币），同比增 长19.1%。货运仍是肯尼亚标轨铁路的主要收入来源，其增长不仅来源于运量提 ...

Group 1 - The People's Bank of China conducted a 7-day reverse repurchase operation of 311.4 billion yuan at an interest rate of 1.40%, maintaining the previous rate, resulting in a net injection of 205.9 billion yuan after 105.5 billion yuan of reverse repos matured on the same day [1] - The Shanghai Interbank Offered Rate (Shibor) for short-term maturities rose across the board, with the overnight Shibor increasing by 9.20 basis points to 1.3620%, the 7-day Shibor up by 2.60 basis points to 1.5310%, and the 14-day Shibor rising by 2.00 basis points to 1.6040% [1][2] - In the interbank pledged repo market, all varieties saw an increase, with the overnight weighted average rates for DR001 and R001 rising by 9.2 basis points and 9.0 basis points, respectively, to 1.3653% and 1.4598%, while transaction volumes decreased significantly [4] Group 2 - The money market rates on February 10 showed a tightening trend in the morning, transitioning to a balanced state in the afternoon, with overnight deposit rates fluctuating between 1.60% and 1.62% [8] - The secondary market for negotiable certificates of deposit was active, with short-term yields rising significantly due to the tightening of the interbank funding market, while long-end yields remained stable [9] - The People's Bank of China emphasized the importance of credit reporting in the construction of the social credit system, aiming to enhance financial services for the real economy and mitigate financial risks [11][13]

Group 1 - The domestic commodity futures market showed mixed results on February 10, with notable increases in tin and caustic soda, both rising over 3% [1] - The China Securities Commodity Futures Price Index closed at 1659.61 points, up 9.56 points or 0.58% from the previous trading day [1] - The SC crude oil market rebounded strongly, rising over 2% due to ongoing geopolitical tensions and supply constraints from Russia and Venezuela [3][4] Group 2 - Tin prices continued to rise by 3.33%, driven by supply constraints and strong demand from sectors like AI, despite an overall weak performance in base metals [2] - The shipping market for European routes faced downward pressure, with the main contract dropping 4.57% amid seasonal demand weakness [5] - The dual focus on crude oil and fuel oil saw both types increase in price, with high-sulfur fuel oil rising by 2.15% and low-sulfur fuel oil by 1.63% [4]

ADP报告显示，截至1月24日的四周内，美国私营部门就业人数平均每周增长6500人。 （文章来源：新华财经） ...

新华财经北京2月10日电新华财经10日获悉，中国金融学会绿色金融专业委员会专家组近日发布依据中 欧《可持续金融共同分类目录》贴标的中国绿色债券清单。最新数据显示，截至2025年12月31日，银行 间市场共有305只存量绿色债券符合该目录，存量规模达3492.49亿元人民币，占银行间市场全部存量绿 债规模的17.0%。 根据2025年12月的月度贴标情况，当月新发行绿色债券中，共有14只被认定为符合《共同分类目录》， 总发行规模153.5亿元。其中，12只在发行时已获认证符合该目录。同期，有1只已贴标债券到期。 | 序号 | 债券简称 | 发行规模 (亿人民币) | | --- | --- | --- | | 1 | 25华能水电GN012(乡村振兴) | 6 | | 2 | 25广州净水GN001 | 3 | | 3 | 25通威GN004(科创债) | 5 | | ন | 25鄂能源MTN001(碳中和债) | 3.5 | | 5 | 25华润租赁MTN003(碳中和债) | 5 | | 6 | 25核风电GN006(科创债) | 10 | | 7 | 25核风电GN005(科创债) | 10 | | 8 ...