大类资产跟踪周报：多政策发力支撑A股，美股延续震荡上行趋势

Core Viewpoints - Multiple policies are supporting the A-share market, while the US stock market continues its upward trend amidst fluctuations [4][6] - A-shares showed a significant rebound with a 3.80% increase in the Wande All A Index, supported by favorable economic data and policy announcements [4][6] - The market is expected to exhibit a fluctuating upward trend, with a focus on cyclical sectors, financial stocks, and technology growth [4][6] Weekly Asset Tracking - Global major assets mostly experienced fluctuations, with A-shares outperforming other markets [6][8] - The performance of A-shares was bolstered by favorable economic data and policy support, leading to a significant increase in trading volume [6][8] - The US retail sales data showed a year-on-year increase of 1.7%, enhancing the probability of a soft landing for the US economy [4][6] Stock Market Analysis - A-shares saw all major indices rise, with the ChiNext Index and the CSI 1000 leading the gains [9][10] - The performance of small-cap indices outperformed mid-cap and large-cap indices, indicating a shift in market dynamics [10][11] - The technology and financial sectors showed strong performance, while energy and materials sectors lagged [11] Bond Market Insights - Long-term bond yields are expected to remain stable, while short-term yields may decline due to anticipated monetary easing [5][13] - The central bank's liquidity operations indicate a supportive environment for bond markets, with a focus on short-term rate adjustments [13][14] Commodity Market Overview - Oil prices have weakened due to reduced demand forecasts, while geopolitical tensions have supported gold prices [5][16] - The WTI crude oil price fell below $69 per barrel, reflecting market concerns over demand [5][17] - Precious metals are expected to remain supported by liquidity improvements from potential interest rate cuts [16][17] High-Frequency Data Tracking - The AH share premium has risen to 9.76%, indicating a favorable valuation for A-shares compared to H-shares [18][20] - The risk premium for the Wande All A index remains above its historical median, suggesting continued investor interest [18][20] Key Data and Event Outlook - Upcoming economic data releases, including the mid-term lending facility (MLF) from the central bank, are anticipated to influence market sentiment [22]