高盛交易台：中国观察-小盘股倒挂的双刃剑

市场洞察 - Marquee --- Market Insights - Marquee Market Insights 市场洞察 CHINA WATCH: Small Cap Backwardation - Two Sides of A Coin 中国观察：⼩盘股倒挂——硬币的两⾯ While we are again back in a policy void and catalyst absence period, two observations topical lately onshore: 虽然我们再次处于政策真空和缺乏催化剂的时期，但近期在岸市场有两个值得关注的现象： 1. Small cap re-active: Small/micro-cap turnover % of market reaching new high ⼩盘股反应活跃：⼩盘/微盘股成交额占市场⽐例达到新⾼ high 2. Backwardation/futures discount: Index futures basis widened and discount moved to new 逆价差/期货贴⽔：指数期货基差扩⼤ ...