国债日线多头信号，美元指数周线多头信号

1. Report Industry Investment Rating No relevant content provided in the report. 2. Core Viewpoints - Ten - year Treasury bond futures main contract shows a long - signal at the daily level and the weekly level, with a neutral signal at the monthly level. The CSI 1000 has a short - signal at the daily level and neutral signals at the weekly and monthly levels [2][53]. - The net value of the multi - asset portfolio is 2.17, the net value of the Treasury bond arbitrage portfolio is 4.0, the long - term hedging signal persists, and there is no arbitrage signal. The net values of the 5 - year and 10 - year Treasury bond spot and hedge portfolios are also provided [2][45]. 3. Summary by Directory 3.1. Multivariate Asset Market Quick View 3.1.1. Market Price Changes - The Shanghai Composite Index closed at 3,295.06, up 0.56%. The CSI 1000 rose 1.85% to 5,939.50, while the SSE 50 fell 0.33% to 2,648.81. Among Treasury bonds, the 10 - year Treasury bond main contract decreased by 0.21% to 108.77. Commodity indexes generally showed an upward trend, with the Agricultural CFCI rising 1.54% to 158.43. In the international market, the Nasdaq Composite Index soared 6.73% to 17,382.94, and the Brent crude oil main contract dropped 1.75% to 65.83 [12]. 3.1.2. Sino - US Treasury Bond Interest Rates - US Treasury bond real yields decreased across different maturities from April 21 - 25, 2025. For example, the 10 - year real yield decreased from 2.20% to 2.02%. Chinese policy - based financial bond (CDB) and fixed - rate Treasury bond yields showed minor fluctuations during the same period [14][15]. 3.2. Strength - Weakness Relationship among Multivariate Assets 3.2.1. Strength - Weakness Relationship among Stocks - The ratios of the CSI 300 to the CSI 1000, the Nasdaq to the FTSE 100, the Nasdaq to the German DAX, and the Nasdaq to the Nikkei 225 are presented, reflecting the relative strength - weakness relationships among different stock indexes [17][19][21]. 3.2.2. Strength - Weakness Relationship among Commodities - The ratios of the CSI Commodity Index to the Metal Index, the Energy Index, the Agricultural Product Index, and the Chemical Index are provided, indicating the relative strength - weakness relationships among different commodity indexes [24][27][29][31]. 3.2.3. Strength - Weakness Relationship among Treasury Bonds - The ratios of Chinese Treasury bonds to US Treasury bonds and the long - short - term ratios of Chinese Treasury bonds are shown, reflecting the relative strength - weakness relationships among different Treasury bonds [33][34]. 3.2.4. Stock - Bond Strength - Weakness - The ratios of the CSI 300 to the Chinese Treasury bond net - price index and the Nasdaq to the US Treasury bond core bond are presented, showing the relative strength - weakness relationship between stocks and bonds [36][37]. 3.2.5. Bond - Commodity Strength - Weakness - The relationship between the copper - gold ratio and the 10 - year Treasury bond futures and the relationship between the gold - oil ratio and the US Treasury bond core bond are analyzed, reflecting the relative strength - weakness relationship between bonds and commodities [41][42]. 3.3. Multivariate Asset Signal Tracking and Simulated Net Value 3.3.1. One - Week Review of Multivariate Asset Signals - From April 21 - 25, 2025, the corn main contract had a long - signal at the 60 - minute level on April 21, and the 10 - year Treasury bond main contract had long - signals at the 60 - minute level every day during this period [1][44]. 3.3.2. Multivariate Asset Simulated Net Value - Treasury Bond Strategy Simulated Net Value Tracking: The net value of the Treasury bond arbitrage portfolio is 4.0, with no arbitrage signal and a persistent long - term hedging signal. The net values of the 5 - year Treasury bond spot and hedge portfolios are 1.2241 and 1.2065 respectively, and those of the 10 - year Treasury bond spot and hedge portfolios are 1.2736 and 1.2563 respectively [45]. - Multivariate Asset Portfolio Simulated Net Value Tracking: The net value of the multi - asset portfolio is 2.17. The initial capital is 10 million RMB, with 10 lots per futures transaction. The latest signals show that the 10 - year Treasury bond futures main contract has long - signals at the daily and weekly levels and a neutral signal at the monthly level, while the CSI 1000 has a short - signal at the daily level and neutral signals at the weekly and monthly levels [2][53].