宏观金融数据日报-20250620

Report Summary 1. Core View - The central bank maintains a prudent monetary policy stance, using various tools to keep the liquidity of the banking system abundant. The transformation of the monetary policy framework is an ongoing process that will be continuously evaluated and improved [4]. - The 2025 Lujiazui Forum focuses on the long - term development of the financial market, with limited short - term boost to the capital market. The domestic factors driving the stock index are weak, and overseas uncertainties remain. The stock index is expected to be weakly volatile in the short term [6]. 2. Market Data Summary 2.1 Macro - financial Data - Interest rates: DRO01 closed at 1.37 with a - 0.06bp change; DR007 at 1.54 with a 1.75bp change; GC001 at 1.28 with a - 34.50bp change; GC007 at 1.56 with a - 8.00bp change; SHBOR 3M at 1.63 with no change; LPR 5 - year at 3.50 with a - 10.00bp change. Bond yields: 1 - year treasury at 1.36 with a 0.25bp change; 5 - year treasury at 1.48 with a 0.45bp change; 10 - year treasury at 1.64 with a 0.50bp change; 10 - year US treasury at 0.00 with a - 1.00bp change [3]. - Central bank operations: The central bank conducted 2035 billion yuan of 7 - day reverse repurchase operations, with 1193 billion yuan of reverse repurchases maturing, resulting in a net injection of 842 billion yuan [3]. - This week, 8582 billion yuan of reverse repurchases are due in the central bank's open - market operations, with 2025 billion yuan due on Friday [4]. 2.2 Stock Index Data - Index closing prices: CSI 300 closed at 3843, down 0.82%; SSE 50 at 2666, down 0.54%; CSI 500 at 5677, down 1.20%; CSI 1000 at 6048, down 1.42%. Futures closing prices: IF当月 at 3840, down 0.8%; IH当月 at 2659, down 0.7%; IC当月 at 5678, down 1.0%; IM当月 at 6050, down 1.2% [5]. - Trading volume and open interest: IF trading volume was 117508, up 11.2%; IF open interest was 242993, up 2.0%; IH trading volume was 56937, up 17.6%; IH open interest was 83607, up 2.8%; IC trading volume was 105878, up 19.0%; IC open interest was 227844, up 4.0%; IM trading volume was 228414, up 21.4%; IM open interest was 336516, up 4.5% [5]. - The total trading volume of the Shanghai and Shenzhen stock markets was 12506 billion yuan, an increase of 596 billion yuan from the previous day. Most industry sectors declined, while the mining, petroleum, and gas industries strengthened [5]. 2.3 Futures Contract Premium and Discount - IF: The premium and discount rates for the current - month, next - month, current - quarter, and next - quarter contracts were 25.56%, 14.64%, 7.96%, and 5.59% respectively [7]. - IH: The premium and discount rates for the current - month, next - month, current - quarter, and next - quarter contracts were 86.54%, 21.40%, 7.13%, and 3.69% respectively [7]. - IC: The premium and discount rates for the current - month, next - month, current - quarter, and next - quarter contracts were - 6.23%, 13.18%, 12.05%, and 10.35% respectively [7]. - IM: The premium and discount rates for the current - month, next - month, current - quarter, and next - quarter contracts were - 13.13%, 16.03%, 15.89%, and 13.75% respectively [7]. 3. Event Summary - The 2025 Lujiazui Forum focused on promoting financial opening and enhancing the support of the financial market to industries, but did not significantly address further monetary policy tightening or equity market rescue tools [6].