Report Summary 1. Report Industry Investment Rating - There is no information about the report industry investment rating in the provided content. 2. Report Core Views - Stock Index: The US consumer confidence in May saw the largest increase in four years. Trump rarely praised the EU and was encouraged by the acceleration of trade negotiations. Japan's Ministry of Finance rarely "surveyed" the bond market and considered reducing the issuance of ultra - long bonds, leading to a violent rebound in Japanese bonds. In the domestic market, the rotation is fast, the main driving force of the market is weak, and the trading volume is insufficient. The stock index may fluctuate weakly [1]. - Treasury Bonds: On Tuesday, without obvious negative news, the bond market yields rose by about 1bp across the board, with the long - end adjustment larger than the medium - and short - end. From the institutional net subscription desensitization data, it seems that pure bond funds experienced a large - scale redemption on Tuesday. The last similar redemption was in mid - March when banks began to cash in floating profits. There were also rumors in the market that commercial banks' motivation to cash in floating profits at the end of June was stronger than before. From the recent market micro - trends, treasury bonds performed weakly relative to policy financial bonds, and the bond - swap basis widened slightly, indicating a local supply - demand "imbalance" in the market. When "limited short - term downward space" and "being bullish but not buying" become market consensus, the impact of specific types of institutional trading behaviors on the market is magnified in the short term [3]. 3. Summary by Related Catalogs Stock Index - Market Review: The main contract futures of CSI 300 index fell 0.51%, that of SSE 50 index fell 0.51%, that of CSI 500 index fell 0.24%, and that of CSI 1000 index fell 0.1% [6]. - Technical Analysis: The KDJ indicator of the Shanghai Composite Index shows that it may fluctuate weakly and there is an adjustment risk [7]. - Strategy Suggestion: Adopt a defensive stance and wait and see [2]. Treasury Bonds - Market Review: The 10 - year main contract fell 0.11%, the 5 - year main contract fell 0.03%, the 30 - year main contract fell 0.26%, and the 2 - year main contract fell 0.02% [9]. - Technical Analysis: The KDJ indicator of the T main contract shows that it will fluctuate and may rebound [10]. - Strategy Suggestion: Bullish in the short term [4]. 4. Futures Data | Date | Futures Variety | Closing Price (Yuan/Contract) | Change (%) | Trading Volume (Lots) | Open Interest (Lots) | | --- | --- | --- | --- | --- | --- | | 2025 - 05 - 27 | CSI 300 Continuous Contract | 3809.20 | - 0.51 | 54529 | 140116 | | 2025 - 05 - 27 | SSE 50 Continuous Contract | 2668.60 | - 0.51 | 28167 | 51671 | | 2025 - 05 - 27 | CSI 500 Continuous Contract | 5578.00 | - 0.24 | 52001 | 109673 | | 2025 - 05 - 27 | CSI 1000 Continuous Contract | 5915.00 | - 0.10 | 140778 | 186517 | | 2025 - 05 - 27 | 10 - year Treasury Bond Continuous Contract | 108.73 | - 0.11 | 58575 | 165848 | | 2025 - 05 - 27 | 5 - year Treasury Bond Continuous Contract | 106.03 | - 0.03 | 43924 | 128934 | | 2025 - 05 - 27 | 30 - year Treasury Bond Continuous Contract | 119.46 | - 0.26 | 62401 | 92091 | | 2025 - 05 - 27 | 2 - year Treasury Bond Continuous Contract | 102.41 | - 0.02 | 32028 | 104798 | [12]
金融期货日报-20250528
Chang Jiang Qi Huo·2025-05-28 01:52