宏观金融数据日报-20250901

Report Summary 1. Report Industry Investment Rating - No information provided 2. Core Viewpoints of the Report - Last week, the stock index rose further, with CSI 300 and CSI 500 making up for lost ground. Market liquidity remained abundant, and the daily trading volume of A-shares increased to over 2.5 trillion. The macro news was generally positive, with the manufacturing PMI in August slightly rebounding to 49.4%, indicating economic resilience, Shanghai's real estate policy being loosened again, and the Fed's rate - cut expectation in September rising. The current market liquidity is sufficient, strongly supporting the stock index. Strategically, short - term long positions can be tilted towards IF or IH to reduce position fluctuations and risks [6][7] 3. Summary by Relevant Catalogs Currency Market - In the currency market, DROO1 closed at 1.33 with a 1.61bp increase, DR007 at 1.52 with a 2.37bp decrease, GC001 at 1.04 with a 7.00bp increase, GC007 at 1.46 with a 4.00bp decrease, SHBOR 3M at 1.55 with no change, LPR 5 - year at 3.50 with no change, 1 - year treasury at 1.37 with a 0.20bp decrease, 5 - year treasury at 1.64 with a 0.46bp decrease, 10 - year treasury at 1.84 with a 0.44bp decrease, and 10 - year US treasury at 4.23 with a 1.00bp increase [4] - Last week, the central bank conducted 2273.1 billion yuan in reverse repurchase operations and 600 billion yuan in 1 - year medium - term lending facility (MLF) operations. Due to the maturity of 2077 billion yuan in reverse repurchases, 300 billion yuan in 1 - year MLF, 400 billion yuan in 91 - day outright reverse repurchases, and 500 billion yuan in 182 - day outright reverse repurchases, the full - caliber net withdrawal was 403.9 billion yuan. This week, 2273.1 billion yuan in reverse repurchases will mature in the central bank's open market, with 288.4 billion, 405.8 billion, 379.9 billion, 416.1 billion, and 782.9 billion yuan maturing from Monday to Friday respectively. Additionally, 1 trillion yuan in 91 - day outright reverse repurchases will mature on Friday [4][5] Stock Index Market - In the stock index market, CSI 300 closed at 4497 with a 0.74% increase, IF current month at 4506 with a 1.0% increase, SSE 50 at 2976 with a 0.53% increase, IH current month at 2980 with a 0.7% increase, CSI 500 at 7044 with a 0.47% increase, IC current month at 6997 with a 0.4% increase, CSI 1000 at 7439 with a 0.11% decrease, and IM current month at 7367 with no change. IF trading volume was 199,696 with a 1.1% increase, IF open interest was 293,331 with a 1.0% increase, IH trading volume was 81,479 with a 0.3% increase, IH open interest was 108,028 with a 0.4% decrease, IC trading volume was 166,467 with a 13.0% decrease, IC open interest was 248,432 with a 0.2% decrease, IM trading volume was 331,183 with a 14.1% decrease, and IM open interest was 388,014 with a 5.1% decrease [6] - Last week, CSI 300 rose 2.71% to 4496.8, SSE 50 rose 1.63% to 2976.5, CSI 500 rose 3.24% to 7043.9, and CSI 1000 rose 1.03% to 7438.7. Among the Shenwan primary industry indices, communication (12.4%), non - ferrous metals (7.2%), electronics (6.3%), comprehensive (5.9%), and power equipment (4%) led the gains last week, while textile and apparel (- 2.9%), banking (- 2.1%), transportation (- 1.5%), light industry manufacturing (- 1.3%), and building decoration (- 0.9%) led the losses [6] Stock Index Futures Premium and Discount - The premium and discount rates of stock index futures are as follows: IF premium/discount rates for current month, next month, current quarter, and next quarter contracts are - 4.03%, - 0.70%, 0.60%, and 1.29% respectively; IH premium/discount rates are - 2.28%, - 0.09%, - 0.42%, and - 0.35% respectively; IC premium/discount rates are 12.86%, 10.56%, 9.52%, and 8.88% respectively; IM premium/discount rates are 18.61%, 13.96%, 11.67%, and 10.69% respectively [8]