国元证券晨会纪要-20250627

Key Points - The report highlights that US durable goods orders increased by 16.4% month-on-month in May, exceeding expectations [4] - It notes that the US trade deficit unexpectedly widened in May, with exports experiencing the largest decline since the pandemic [4] - The US GDP growth rate for the first quarter was revised down to -0.5% [4] - Initial jobless claims in the US fell to 236,000, which is below expectations [4] - The US dollar index fell below 97 for the first time since March 2022 [4] - The report mentions that the EU is considering reducing tariffs on US imports [4] - It discusses the uncertain outlook for stablecoins as they have not met key requirements for the monetary system, according to a report by the Bank for International Settlements [4] - The report also covers the launch of a new generation CPU developed in China [4] - It notes that Microsoft and OpenAI are at an impasse in negotiations regarding terms for contracts related to general artificial intelligence (AGI) [4] - The yields on US Treasury bonds decreased, with the 2-year yield down by 6.74 basis points to 3.711%, the 5-year yield down by 5.13 basis points to 3.794%, and the 10-year yield down by 5.09 basis points to 4.240% [4]