大类资产早报-20250825

Report Overview - The report is the "Large - scale Asset Morning Report" released by the macro team of the research center on August 25, 2025 [2] Global Asset Market Performance 10 - year Treasury Yields of Major Economies - On August 22, 2025, the 10 - year Treasury yields of the US, UK, France, etc. were 4.255, 4.691, 3.420 respectively. There were different changes in the latest, weekly, monthly, and yearly periods. For example, the latest change in the US was - 0.074, and the yearly change was 0.418 [3] 2 - year Treasury Yields of Major Economies - On August 22, 2025, the 2 - year Treasury yields of the US, UK, Germany, etc. were 3.740, 3.938, 1.945 respectively. There were also different changes in different time periods. For example, the latest change in the US was - 0.010, and the yearly change was - 0.270 [3] Dollar Exchange Rates against Major Emerging Economies' Currencies - On August 22, 2025, the dollar exchange rates against the Brazilian real, South African rand, etc. were 5.426, 17.449 respectively. There were percentage changes in the latest, weekly, monthly, and yearly periods. For example, the latest change in the Brazilian real was - 0.91%, and the yearly change was - 0.87% [3] Major Economies' Stock Indexes - On August 22, 2025, the closing prices of the S&P 500, Dow Jones Industrial Average, etc. were 6466.910, 45631.740 respectively. There were percentage changes in the latest, weekly, monthly, and yearly periods. For example, the latest change in the S&P 500 was 1.52%, and the yearly change was 18.55% [3] Credit Bond Indexes - There were different changes in the latest, weekly, monthly, and yearly periods for the US investment - grade credit bond index, euro - zone investment - grade credit bond index, etc. For example, the latest change in the US investment - grade credit bond index was 0.53%, and the yearly change was 4.10% [3][4] Stock Index Futures Trading Data Index Performance - The closing prices of A - shares, CSI 300, etc. were 3825.76, 4378.00 respectively, with corresponding percentage changes. For example, the A - share index rose 1.45% [5] Valuation - The PE (TTM) of the CSI 300, SSE 50, etc. were 13.97, 11.94 respectively, with corresponding环比 changes. For example, the环比 change of the CSI 300's PE (TTM) was 0.24 [5] Risk Premium - The risk premiums of the S&P 500 and German DAX were - 0.61, 2.25 respectively, with环比 changes of 0.02 for both [5] Fund Flows - The latest values of fund flows in A - shares, the main board, etc. were 1045.08, 480.26 respectively, and there were corresponding 5 - day average values [5] Trading Volume - The latest trading volumes of the Shanghai and Shenzhen stock markets, CSI 300, etc. were 25467.10, 6759.35 respectively, with环比 changes. For example, the环比 change of the Shanghai and Shenzhen stock markets' trading volume was 1226.53 [5] Main Contract Basis - The basis of IF, IH, IC were 16.00, 13.39, - 12.45 respectively, with corresponding basis ratios of 0.37%, 0.46%, - 0.18% [5] Treasury Futures Trading Data - The closing prices of T00, TF00, T01, TF01 were 107.915, 105.475, 107.660, 105.370 respectively, with corresponding percentage changes. The R001, R007, SHIBOR - 3M were 1.4466%, 1.4839%, 1.5500% respectively, with daily changes in basis points [6]