开源证券：开源晨会-20241223

Group 1 - Domestic industrial products are experiencing weak fluctuations, with the Nanhua Index indicating a mixed performance in prices over the past two weeks, including a rise in iron ore prices and a decline in rebar prices [2] - The chemical chain products have shown a mixed price trend, with methanol and butadiene rubber prices increasing, while PVC and polyester filament prices have decreased [2] - Construction material prices have also declined, with average prices for cement, glass, and asphalt decreasing over the past two weeks [2] Group 2 - The real estate market is showing signs of stabilization, with new housing transactions increasing on a month-on-month basis, supported by government policies aimed at restoring market confidence [54][56] - The transaction area for new homes in 68 cities decreased by 6% year-on-year but increased by 1% month-on-month, indicating a potential recovery trend [57] - The central government has implemented policies to boost the real estate market, which is expected to gradually improve housing price expectations [54][56] Group 3 - The bond market is currently influenced by expectations of interest rate cuts, with the central bank's monetary policy leaning towards maintaining liquidity while being cautious about significant rate reductions [10][11] - Recent data shows that the R007 rate is at 1.75% and the DR007 rate is at 1.57%, indicating a slight upward trend in funding rates [37] - The central bank's focus on managing funding rates is crucial for preventing potential volatility in the bond market [31][43] Group 4 - The cardiovascular disease market is expanding, with Lp(a) emerging as a new target for lipid-lowering treatments, and several companies are actively developing drugs targeting this area [47][72] - Currently, there are 10 drugs targeting Lp(a) in clinical trials, with significant partnerships being formed to capitalize on this emerging market [47] - The pharmaceutical sector has seen a decline of 2.13% this week, with various sub-sectors experiencing different levels of performance [48]