宏观金融数据日报-20250429

Group 1: Macroeconomic and Financial Data - The central bank conducted 279 billion yuan of 7 - day reverse repurchase operations yesterday with an operating rate of 1.50%, resulting in a net daily investment of 103 billion yuan after 176 billion yuan of reverse repurchases matured [3] - This week, 504.5 billion yuan of reverse repurchases in the central bank's open - market operations will mature, with 176 billion, 220.5 billion, and 108 billion yuan maturing from Monday to Wednesday respectively, and the funds due on Thursday and Friday will be postponed to the first trading day after the holiday [4] - The meeting mentioned "timely reserve requirement ratio cuts and interest rate cuts", creating new structural monetary policy tools, and establishing new policy - based financial tools, but the urgency of short - term reserve requirement ratio cuts and interest rate cuts has decreased [4] Group 2: Bond Market - DR001 closed at 1.45% with a - 1.96bp change, DR007 at 1.75% with a 3.59bp change, GC001 at 1.90% with a 21.50bp change, and GC007 at 1.85% with a 7.00bp change [3] - SHBOR 3M remained at 1.75% with no change, LPR 5 - year at 3.60% with no change, 1 - year treasury bond at 1.46% with a 1.00bp change, 5 - year treasury bond at 1.54% with a - 0.50bp change, 10 - year treasury bond at 1.65% with a - 1.25bp change, and 10 - year US treasury bond at 4.29% with a - 3.00bp change [3] Group 3: Stock Index Futures and Spot Market - Yesterday, the CSI 300 fell 0.14% to 3781.6, the SSE 50 rose 0.09% to 2651.2, the CSI 500 fell 0.51% to 5598.3, and the CSI 1000 fell 1.05% to 5877.1. The trading volume of the two markets was 1.0564 trillion yuan, a decrease of 57.2 billion yuan from last Friday [5] - Industry sectors generally declined, with real estate services, real estate development, food and beverage, tourism and hotels, engineering consulting services, decoration and building materials, and commercial department stores leading the decline, while only banks, games, jewelry, steel, and power industries rose [5] - The Politburo meeting on April 25 released limited incremental information on aggregate policies, emphasizing the implementation of existing policies and the refinement of support policies in specific areas [6] - The short - term trend of stock indices faces a situation of mixed long and short factors. The uncertainty of the Trump administration's actions complicates Sino - US tariff negotiations, while the strong Q1 economic data in China reduces the urgency of short - term incremental policies [6] - The short - term recommendation is to hold a light position in stock index futures and wait for the market direction to become clear. Considering the high overseas uncertainty during the May Day holiday and the low option volatility, a double - buying strategy for stock index options can be considered before the holiday [6] Group 4: Stock Index Futures Premium and Discount - The IF premium/discount rates for the current - quarter, next - month, current - month, and next - quarter contracts are 10.41%, 9.29%, 7.33%, and 5.51% respectively [7] - The IH premium/discount rates for the corresponding contracts are 4.46%, 6.03%, 5.41%, and 3.56% respectively [7] - The IC premium/discount rates for the corresponding contracts are 15.32%, 15.66%, 11.48%, and 9.61% respectively [7] - The IM premium/discount rates for the corresponding contracts are 16.86%, 17.35%, 13.18%, and 11.40% respectively [7]