宏观大类日报：美国11月CPI符合市场预期

Group 1: Economic Indicators - The US November CPI increased by 2.7% year-on-year, matching market expectations, with a month-on-month increase of 0.3%[4] - The core CPI for November also rose by 3.3% year-on-year, consistent with previous values[4] - The A-share market showed a net outflow of 27.201 billion yuan, indicating structural opportunities within certain sectors despite overall market volatility[3] Group 2: Market Strategy - Commodity futures strategy suggests buying on dips for precious metals and the black sector, while maintaining a neutral stance on others[3] - Stock index futures are recommended for buy hedging, reflecting a cautious yet optimistic market outlook[3] - The report emphasizes the importance of upcoming domestic policy expectations, particularly regarding potential reserve requirement ratio cuts and significant meetings in December[3] Group 3: Geopolitical and Economic Risks - Risks include geopolitical tensions affecting energy prices, unexpected global economic downturns, and potential tightening by the Federal Reserve[6] - The report highlights the cooling of "Trump trades" as the incoming administration's policies are awaited, particularly regarding tariffs and tax strategies[3]