Market Overview - U.S. economic data shows resilience despite tariff impacts, with Q1 GDP growth turning negative due to increased imports[6] - April's non-farm payrolls exceeded expectations, with unemployment rate stable, indicating a healthy job market[6] - Market expectations for interest rate cuts have decreased from four to three times this year, with the Fed likely to maintain rates in May[6] Stock Market Performance - U.S. stock indices experienced mixed results, with the Dow Jones down 0.24% to 41,218.8, and the S&P 500 down 0.64% to 5,650.4[9] - European markets showed varied performance, with Germany's DAX rising 1.12% to 23,344.5, marking a nine-day winning streak[9] - In Asia, Vietnam's market led gains with a 1.1% increase, while Taiwan's market fell 1.2% to 20,533[22] Currency and Commodity Trends - Asian currencies strengthened against the USD, with the Japanese yen leading G-10 currencies[4] - International oil prices fell nearly 2% due to OPEC+ production increase concerns, while gold prices rose over 2% amid ongoing trade war risks[4] - The U.S. dollar index decreased by 0.2%, reflecting a year-to-date decline of 8%[27] Fixed Income Insights - U.S. Treasury yields rose for the third consecutive day, with the 10-year yield at 4.34%, reflecting reduced rate cut expectations[31] - Corporate bond issuance remains active, with significant new debt offerings from major companies like Apple and General Motors[31] Sector Highlights - The technology sector in Hong Kong saw strong performance, with the Hang Seng Tech Index up 3.08%[11] - The travel market showed robust demand during the May Day holiday, with domestic tourism expected to exceed 350 million trips, a year-on-year increase of over 15%[18]
环球市场动态：关税冲击尚未完全体现在美国经济数据
citic securities·2025-05-06 11:17