定量策略周报：日元套息松动放大波动，下周美日央行决议可能重返降息交易

Core Insights - The report highlights a downward trend in the performance of various industries, with notable declines in sectors such as non-ferrous metals (-6.97%) and food and beverage (-6.31%) [1][2] - The report indicates significant capital flows, with the non-ferrous metals sector experiencing a net inflow of 20.66 billion, despite its overall negative return [1][2] - The defense and military industry shows a positive trend with a return of 2.19% and a net inflow of 6.30 billion, indicating strong investor interest [1][2] Industry Overview - Non-ferrous Metals: Experienced a -6.97% return with a net outflow of -3.05 million and a significant net inflow of 20.66 billion, indicating high volatility and investor interest [1] - Electric Power and Utilities: Showed a slight decline of -0.31% with a net inflow of 3.44 million, suggesting a stable but cautious investor sentiment [1] - Defense and Military: Achieved a positive return of 2.19% with a net inflow of 6.30 billion, reflecting strong demand and confidence in the sector [1] - Communication: Experienced a decline of -3.54% with a net outflow of -4.13 million, indicating a challenging environment for the sector [1] - Automotive: Reported a -1.90% return with a net inflow of 4.26 million, suggesting mixed investor sentiment [1] - Pharmaceuticals: Showed a decline of -4.01% with a net inflow of 9.20 million, indicating potential concerns despite some capital inflow [1] - Banking: Experienced a -2.98% return with a net inflow of 8.00 million, reflecting a complex market environment [1] Capital Flow Analysis - The report tracks significant capital movements, with the non-ferrous metals sector attracting substantial investment despite its negative performance, indicating a potential speculative interest [2] - The defense and military sector's positive performance and capital inflow suggest a strong outlook and investor confidence [1][2] - The overall capital flow trends indicate a cautious approach from investors, with some sectors experiencing outflows while others attract significant inflows [1][2]