国元证券每日观察-20250820

US Treasury Market - The 2-year US Treasury yield decreased by 1.69 basis points to 3.738%[2] - The 5-year US Treasury yield fell by 2.27 basis points to 3.819%[4] - The 10-year US Treasury yield dropped by 2.54 basis points to 4.306%[4] Economic Data - In July, the total number of building permits in the US was 1.354 million, below expectations[3] - China's tax revenue from January to July decreased by 0.3% year-on-year, while non-tax revenue increased by 2%[3] - The stamp duty on securities transactions in China for January to July was 93.6 billion yuan, a year-on-year increase of 62.5%[3] Market Indices - The Nasdaq index closed at 21,314.95, down 1.46%[5] - The Dow Jones Industrial Average closed at 44,922.27, up 0.02%[5] - The S&P 500 index closed at 6,411.37, down 0.59%[5] - The Hang Seng Index closed at 25,122.90, down 0.21%[5]