格林大华期货早盘提示：国债-20251023

Group 1: Report Industry Investment Rating - Short - term treasury bond futures may fluctuate [2] Group 2: Core Viewpoints - On Wednesday, the main contracts of treasury bond futures opened higher across the board, with a slow decline in the morning session and a continuation in the afternoon. There was a late - session rally followed by a slight decline. The 30 - year treasury bond futures main contract TL2512 rose 0.10%, the 10 - year T2512 rose 0.02%, the 5 - year TF2512 rose 0.04%, and the 2 - year TS2512 remained flat [1] - On Wednesday, the central bank conducted 138.2 billion yuan of 7 - day reverse repurchase operations, with 43.5 billion yuan of reverse repurchases maturing, resulting in a net injection of 94.7 billion yuan [1] - On Wednesday, the overnight interest rate in the inter - bank money market was basically flat compared to the previous trading day. DR001 had a weighted average of 1.32% for the day, and DR007 had a weighted average of 1.43% [1] - On Wednesday, the closing yields of inter - bank treasury bonds fluctuated narrowly compared to the previous trading day. The 2 - year treasury bond yield rose 0.50 BP to 1.50%, the 5 - year yield fell 0.06 BP to 1.60%, the 10 - year yield fell 0.64 BP to 1.83%, and the 30 - year yield fell 0.50 BP to 2.18% [1] - In the first three quarters of 2025, the number of domestic tourist trips was 4.998 billion, an increase of 761 million compared to the same period last year, a year - on - year increase of 18.0% [1] - On October 22, local time, US President Trump canceled his meeting with Russian President Putin in Budapest and said it was time to impose sanctions on Russia [1] - China's GDP in the third quarter increased by 4.8% year - on - year, in line with market expectations. In September, China's fixed - asset investment growth and total retail sales of consumer goods growth were lower than market expectations, while exports exceeded expectations. Industrial added value of large - scale industries increased more than expected, and the service production index was flat compared to August. Real estate sales continued to decline year - on - year in September and in the first half of October [1] - On October 18, the leaders of China - US economic and trade negotiations agreed to hold a new round of China - US economic and trade consultations as soon as possible. On Wednesday, the Wind All - A Index opened lower, fluctuated narrowly throughout the day, and closed with a small positive star. The trading volume was 1.69 trillion yuan, a contraction compared to the previous trading day's 1.89 trillion yuan [2] Group 3: Trading Strategies - Traders should conduct band operations [2]