Sou Hu Cai Jing·2025-08-13 02:56Group 1 - The Chinese government has introduced two loan interest subsidy policies to boost consumer spending and support economic growth [2] - The U.S. and China have agreed to continue suspending 24% tariffs on each other's goods for an additional 90 days [2] - The Shenzhen Stock Exchange will launch two high-grade credit bond indices focusing on state-owned and private enterprises [3] Group 2 - The U.S. Consumer Price Index (CPI) rose by 2.7% year-on-year in July, which is below market expectations, while the core CPI increased to its highest level since February at 3.1% [4] - International crude oil prices fell, with WTI crude down 1.23% to $63.17 per barrel and Brent crude down 0.76% to $66.12 per barrel [5] - The People's Bank of China conducted a 7-day reverse repo operation of 114.6 billion yuan at an interest rate of 1.40%, resulting in a net withdrawal of 46.1 billion yuan [6][7] Group 3 - The bond market is under pressure as stock and commodity markets remain strong, with the yield on 10-year government bonds rising to 1.7275% [8] - The convertible bond market saw a collective decline, with major indices down by 0.25% to 0.41% on August 12 [22] - The U.S. Treasury yields showed mixed movements, with the 2-year yield down 4 basis points to 3.72% and the 10-year yield up 2 basis points to 4.29% [25] Group 4 - Major European economies saw an increase in 10-year government bond yields, with Germany's yield rising by 4 basis points to 2.74% [28] - The secondary market for credit bonds experienced significant price movements, with one industrial bond, "H1碧地03," rising over 17% [10] - Several companies, including China Evergrande and Hong Kong's Huanan City, announced significant financial difficulties, including delisting and liquidation proceedings [18][19]