Report Summary 1. Report Industry Investment Rating - No specific industry investment rating is provided in the report. 2. Report's Core Views - Equity Index: Trump's administration temporarily restored the tariff policy after the appeals court approved the request to halt the ruling against tariffs. Trump met with Powell and requested a rate cut, but Powell insisted on policy independence. Overall, before the trading volume effectively expands, the structural market of index fluctuations and rotation of thematic sectors is likely to continue [1]. - Treasury Bonds: On Thursday, the yield curve shifted upward across the board, and market sentiment was weak throughout the day. Although the yield of the 10 - year Treasury bond 250004 rebounded to around 1.72%, approaching the upper limit of the yield range previously expected by some investors, and the yields of 2 - year and 5 - year Treasury bonds "filled the gap" created by the tariff shock. Despite substantial benefits such as reserve requirement ratio cuts, interest rate cuts, and a decline in money market interest rates in the past two months, no strong allocation forces stepped in to buy bonds. This deviation between reality and intuition deserves attention [3]. 3. Summary by Related Catalogs Equity Index - Market Review: The main contract futures of the CSI 300 Index rose 0.68%, the main contract futures of the SSE 50 Index rose 0.25%, the main contract futures of the CSI 500 Index rose 1.89%, and the main contract futures of the CSI 1000 Index rose 2.35% [6]. - Technical Analysis: The KDJ indicator of the Shanghai Composite Index suggests potential for volatile movement and adjustment risks [7]. - Strategy Suggestion: Adopt a defensive and wait - and - see approach [2]. Treasury Bonds - Market Review: The 10 - year main contract fell 0.26%, the 5 - year main contract fell 0.15%, the 30 - year main contract fell 0.65%, and the 2 - year main contract fell 0.06% [9]. - Technical Analysis: The KDJ indicator of the T main contract shows volatile movement and potential for a rebound [10]. - Strategy Suggestion: Bullish in the short term [4]. Futures Data | Date | Futures Variety | Closing Price (Yuan/Contract) | Change (%) | Trading Volume (Lots) | Open Interest (Lots) | | --- | --- | --- | --- | --- | --- | | 2025 - 05 - 29 | CSI 300 Continuous Contract | 3832.80 | 0.68 | 70602 | 136268 | | 2025 - 05 - 29 | SSE 50 Continuous Contract | 2673.60 | 0.25 | 37631 | 54235 | | 2025 - 05 - 29 | CSI 500 Continuous Contract | 5668.60 | 1.89 | 68773 | 112167 | | 2025 - 05 - 29 | CSI 1000 Continuous Contract | 6031.00 | 2.35 | 166397 | 187832 | | 2025 - 05 - 29 | 10 - year Treasury Bond Continuous Contract | 108.47 | - 0.26 | 72334 | 166334 | | 2025 - 05 - 29 | 5 - year Treasury Bond Continuous Contract | 105.87 | - 0.15 | 57177 | 138906 | | 2025 - 05 - 29 | 30 - year Treasury Bond Continuous Contract | 118.69 | - 0.65 | 94531 | 95648 | | 2025 - 05 - 29 | 2 - year Treasury Bond Continuous Contract | 102.35 | - 0.06 | 32722 | 110993 | [12]
金融期货日报-20250530
Chang Jiang Qi Huo·2025-05-30 02:23