Group 1 - Global asset performance shows significant divergence, with developed markets in Europe rising while emerging markets in Asia decline [1] - The UK FTSE 100 and Vietnam Index have the highest gains, while A-shares experience a slight downturn, with the Wind All A Index dropping by 0.2% [1] - Precious metals continue to show strength, with COMEX silver increasing by 9.4% for the week and over 120% year-to-date, while oil prices continue to decline [1] Group 2 - The yield curves for both Chinese and US bonds exhibit a "bull steepening" characteristic, indicating a potential shift in interest rate expectations [1] - The Federal Reserve has moved its interest rate cut expectations for 2026 to March and July, with a projected cut of 25 basis points [1] - The US dollar index has risen by 0.3%, while the euro and yen have depreciated against the dollar, and the British pound and Chinese yuan have appreciated [1] Group 3 - Emerging markets are generally weak, with A-shares showing a slight decline, particularly in the ChiNext Index and the Sci-Tech 50, leading to a bearish outlook on A-shares [2]
中债牛陡，白银领涨
Sou Hu Cai Jing·2025-12-24 07:34