光大期货：12月11日金融日报

Stock Market - The A-share market experienced a slight increase, with the real estate sector leading the gains. The Wind All A index rose by 0.12%, with a trading volume of 1.79 trillion yuan [2] - The Central Political Bureau meeting was held to outline economic work for 2026, focusing on boosting domestic demand [2] - Upcoming meetings include the Federal Reserve's interest rate decision and potential interest rate hikes from the Bank of Japan, which may impact market liquidity and volatility [2] - AI and new productive forces are identified as key drivers for stock index increases, although there is a prevailing cautious sentiment in the market [2] - Traditional economic sectors are in a phase of recovery, but a fundamental bull market is unlikely in the short term due to ongoing uncertainties [2] Bond Market - The bond futures market saw increases, with the 30-year main contract rising by 0.3% and the 10-year contract by 0.06% [6] - The People's Bank of China conducted a 1,898 billion yuan reverse repurchase agreement with a bid rate of 1.4%, maintaining liquidity in the market [6] - Despite a generally loose funding environment, expectations for interest rate cuts remain low, leading to a slight upward trend in bond yields [6] - The overall economic situation shows resilience, with inflation expected to continue a moderate recovery [6] Precious Metals - London spot gold prices rose, while silver reached a new historical high, and platinum and palladium experienced fluctuations [7] - The Federal Reserve's recent decision to cut rates by 25 basis points and initiate short-term Treasury purchases aligns with market expectations [7] - The outlook for precious metals remains cautiously optimistic, with silver showing strong performance despite potential corrections [7] - The platinum-palladium price spread has narrowed, indicating market dynamics that may not persist [7]