宝城期货国债期货早报-20250716

Report Summary 1. Investment Rating - No investment rating provided in the report 2. Core View - The overall view of Treasury bond futures is oscillatory in the short - term, medium - term, and intraday. The short - term interest rate cut possibility is low, and in the short - term, Treasury bond futures will continue to oscillate and consolidate [1][5] 3. Summary by Relevant Content 3.1 Variety View Reference - Financial Futures Stock Index Sector - For TL2509, the short - term view is oscillatory, the medium - term view is oscillatory, and the intraday view is weakly oscillatory. The overall view is oscillatory. The core logic is that the monetary policy environment is loose, but the short - term interest rate cut possibility is low [1] 3.2 Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - For varieties TL, T, TF, TS, the intraday view is weakly oscillatory, the medium - term view is oscillatory, and the overall reference view is oscillatory. The core logic is that Treasury bond futures oscillated and rose yesterday. The central bank's net liquidity injection in the open - market operation eased the liquidity shortage, and the upward momentum of the 2 - year Treasury bond yield was insufficient. There are still problems of insufficient domestic effective demand and external disturbances, so a loose monetary environment is needed to support economic demand in the second half of the year [5]