投资有风险，入市需谨慎。本内容不构成任何投资建议。投 资者不应以该等信息取代其独立判断或仅根据该等信息做出 决策。申万宏源对这些信息的准确性或完整性不作保证，亦 不对因使用该等信息而引发或可能引游躲损豢秃脱给圆感猛 田厅宏源证券 星期五 02月 今日申 ... 今日中签缴... 0 SH 今日无新股新债 免责声明 ...

申万宏源策略 【申万宏源策略】美联储换帅在即，大类资产影响几何？——全球资产配置热点聚焦系列报告之三十三 原创 阅读全文 ...

Core Viewpoint - The article discusses the arrangements for the 2026 Spring Festival market closure and provides strategies for participating in government bond reverse repos during this period, highlighting the potential for investors to earn returns on idle funds [5][9]. Market Closure Arrangements - The A-shares market will be closed from February 15 (Sunday) to February 23 (Monday) for the Spring Festival, reopening on February 24 (Tuesday) [3][4]. - The Hong Kong Stock Connect will also suspend services from February 15 to February 23, resuming on February 24 [4]. Government Bond Reverse Repo Overview - Government bond reverse repos are short-term loans where individuals lend their funds to earn fixed interest, with government bonds used as collateral. This investment is considered as safe as government bonds [5]. - The interest rates for government bond reverse repos typically increase significantly before month-end, quarter-end, year-end, and long holidays, making it an attractive option for idle funds [5]. Participation Strategies for 2026 Spring Festival - A detailed table outlines the participation dates, product terms, available fund dates, and interest days for various reverse repo products, indicating that investors can choose from different terms based on their needs [7][9]. - For example, a 14-day term starting on February 4 will have a fund availability date of February 24 and an interest period of 20 days [7]. Tips for Investors - The minimum investment for government bond reverse repos is 1,000 yuan, with various term options available [8]. - Investors are advised to consider higher-yielding products when interest days are the same across different terms and to execute one-day reverse repos two days before the market closure to maximize holiday earnings without affecting other account operations [8].

Group 1 - The core viewpoint of the article emphasizes the importance of expanding domestic demand through service consumption and enhancing vitality via the opening up of the service industry [2] Group 2 - The article discusses the current state of service consumption in China, highlighting its potential to drive economic growth and the need for policy support to stimulate this sector [2] - It points out that service consumption has been growing steadily, with a notable increase in sectors such as healthcare, education, and entertainment [2] - The article suggests that further opening up the service industry can attract foreign investment and improve service quality, ultimately benefiting consumers and the economy [2]

辑。 功能介绍 全市场扫描 每个交易日, 动态扫描全市场个 股线索, 捕捉最新利好情况 线索股行业分布 可查看全行业线索股分布,支持 按市场和行业筛选。 个线索全扫描 个股线索早知道 在个股风险详情页查看个股线 索,自选股线索个性化推送。 订阅后使用方式 【功能】 【增值服务】 【潜机洞察】 Level-2白银版行情 产品特点 提供盘口及主力分析的深度行情数据,帮助投资者捕 捉主力动向和资金博弈细节 功能介绍 深度盘口解析:透视每笔挂单与成交的博弈 细节 主力行为追踪:实时追踪主力买入强度 订阅后使用方式 个股详情页右侧查看 十档行情 个股详情页下方tab"资金"盘口"查看 Level-2白银版资金流向 即合儿 产品特点 通过数字序列识别股价拐点,帮助投资者精准捕捉买 卖时机,避免高位接盘和低位错过的局面。 功能介绍 实时股票池筛选:每日发出上涨触九和下跌触 九的股票池,为客户筛出全市场股票中的"黄 金坑"和"风险顶" 趋势反转信号:提供明确的红九、绿九反转信 号,帮助用户及时捕捉买卖机会 订阅后使用方式 路径1: 我的权益 策略工具) 》( 预警股票池 》》(神奇九转 路径2: 个股详情页 D> 分时图下方 ...

Group 1 - The article discusses the issuance of a convertible bond by Hai Tian Co., with a conversion price set at 12.52 yuan and an issuance price of 100.00 yuan [1] - The bond has been rated AA, indicating a relatively low credit risk associated with the investment [1]

申万宏源固收研究 【申万固收|信用】套息压舱，品种掘金——2026年2月信用债市场展望 原创 阅读全文 ...

Core Viewpoint - The article discusses the arrangements for the 2026 Spring Festival market closure and provides strategies for participating in government bond reverse repos during this period, highlighting the potential for earning fixed interest income with low risk [5][9]. Market Closure Arrangements - The A-shares market will be closed from February 15 (Sunday) to February 23 (Monday) for the Spring Festival, reopening on February 24 (Tuesday) [3][4]. - The Hong Kong Stock Connect will also suspend services from February 15 to February 23, resuming on February 24 [4]. Government Bond Reverse Repo Overview - Government bond reverse repos are short-term loans where individuals lend their funds to earn fixed interest, with government bonds used as collateral, considered as safe as the bonds themselves [5]. - The interest rates for government bond reverse repos typically rise significantly before month-end, quarter-end, year-end, and holidays, making them an attractive option for idle funds [5]. Participation Strategies for 2026 Spring Festival - A detailed table outlines the participation dates, product terms, available fund dates, and interest days for various reverse repo products, indicating that investors can choose from different terms based on their needs [7][9]. - For example, a 14-day term starting on February 4 will have a fund availability date of February 24 and an interest period of 20 days [7]. Tips for Participation - The minimum investment for government bond reverse repos is 1,000 yuan, with various term options available [8]. - Investors are advised to consider higher-yielding products when interest days are the same across different terms and to execute a one-day reverse repo two days before the market closure to earn holiday interest without affecting other account operations [8].

申万宏源固收研究 【申万固收|利率】经济非典型修复下的配置行情——2026年2月债券投资策略展望 原创 阅读全文 ...

由于上周末国际贵金属行情剧烈波动，引发全球资本市场共振 ，沪深A股也在周初出现大跌，但周二周三企稳反弹，通过连续中阳线快速修复，上证 指数重返4100点上方，回到强势区间，表明多方对未来行情仍抱有积极预期，并在多空博弈中占据上风。因此从指数层面看，随着春节长假临近，大盘将 呈现缩量震荡，基调稳中偏强。 从热点看，一是国际贵金属市场仍跌宕起伏，多空博弈激烈，黄金、白银等主力品种宽幅震荡，影响到A股相关板块，周三贵金属跌幅第一。 二是受 近期国内煤炭价格上涨利好影响，周三煤炭板块异军突起，涨幅领先。三是隔夜美股科技板块出现较大下跌，影响周三A股算力硬件板块联动下跌，游 戏、半导体等同步调整，跌幅居前。总体看，短线热点和行业基本面信息关联度较高，且有高低切换的信号，后续应保持关注。 风险提示： 消息面或海外市场表现超预期，流动性的不确定性。 展望后市：大盘虽有震荡，但韧性较强，仍以多头市场为主。 春节前大盘有望保持震荡，稳中偏强。同时个股热点切换，半导体芯片板块有调整信 号，而煤炭等低估值蓝筹板块轮动走强，高低切换能否持续值得关注。 ...