宏观金融数据日报-20250804

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - In the short - term, the upward speed of the stock index may slow down after the phased realization of macro - positive factors, and market fluctuations and adjustments should be watched out for. In the long run, the futures index market this year is mainly driven by valuation expansion, and the valuation factor is expected to continue to play a role. It is advisable to go long on the stock index opportunistically this week [7] 3. Summary According to Relevant Catalogs Interest Rate and Bond Market - The closing prices and changes of various interest rate varieties are as follows: DRO01 closed at 1.31, down 8.18bp; DR007 at 1.42, down 13.00bp; GC001 at 1.29, up 26.00bp; GC007 at 1.46, up 3.00bp; SHBOR 3M at 1.56, down 0.30bp; LPR 5 - year at 3.50, unchanged; 1 - year treasury bond at 1.37, down 0.73bp; 5 - year treasury bond at 1.57, down 0.23bp; 10 - year treasury bond at 1.71, up 0.60bp; 10 - year US treasury bond at 4.23, down 14.00bp [4] - Last week, the central bank conducted 1.6632 trillion yuan of reverse repurchase operations in the open market, with 1.6563 trillion yuan of reverse repurchases due, resulting in a net investment of 6.9 billion yuan. This week, 1.6632 trillion yuan of reverse repurchases will expire, with 495.8 billion, 449.2 billion, 309 billion, 283.2 billion, and 126 billion yuan expiring from Monday to Friday respectively [4][5] Stock Index Market - Stock index closing prices and changes compared to the previous day: CSI 300 closed at 4055, down 0.51%; SSE 50 at 2754, down 0.79%; CSI 500 at 6213, down 0.21%; CSI 1000 at 6670, up 0.14%. For index futures, IF当月 closed at 4043, down 0.7%; IH当月 at 2754, down 0.8%; IC当月 at 6166, down 0.4%; IM当月 at 6617, up 0.1% [6] - Last week, CSI 300 fell 1.75% to 4054.9; SSE 50 fell 1.48% to 2754.1; CSI 500 fell 1.37% to 6213.2; CSI 1000 fell 0.54% to 6670.5. In the Shenwan primary industry index, last week, the pharmaceutical and biological (2.9%), communication (2.5%), media (1.1%), electronics (0.3%), and social services (0.1%) sectors led the gains, while most sectors declined, with non - ferrous metals (-4.6%), real estate (-3.4%), transportation (-3.2%), agriculture, forestry, animal husbandry and fishery (-3%), and power equipment (-2.6%) leading the losses [6] - The IF, IH, IC, and IM index futures have different levels of premium and discount for different contracts. For example, IF's premium and discount rates for the current - month, next - month, current - quarter, and next - quarter contracts are 9.10%, 0.00%, 0.01%, and 3.41% respectively [8]