宏观金融数据日报-20251028

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - The central bank's mid - term liquidity net injection in October reached 600 million yuan, maintaining a relatively high level, showing a moderately loose monetary policy orientation [4] - With the gradual alleviation of unfavorable factors in trade frictions, stock indices may return to the upward channel. Even if short - term macro uncertainties increase, the adjustment space of stock indices is expected to be limited. The strategy is to mainly choose opportunities to go long on stock indices [6] 3. Summary by Related Catalogs Interest Rates and Bond Market - DR001 closed at 1.45 with a 13.11bp increase, DR007 at 1.58 with a 17.11bp increase, GC001 at 1.41 with a 1.50bp increase, and GC007 at 1.64 with a 6.50bp increase [3] - SHBOR 3M closed at 1.60 with a 0.10bp increase, LPR 5 - year at 3.50 with no change, 1 - year treasury bond at 1.37 with a 2.00bp decrease, 5 - year treasury bond at 1.59 with a 1.20bp decrease, 10 - year treasury bond at 1.84 with a 0.85bp decrease, and 10 - year US treasury bond at 3.98 with a 2.70bp increase [3] - The central bank conducted 337.3 billion yuan of 7 - day reverse repurchase operations on October 27, with an operating rate of 1.40%. After offsetting the 189 billion yuan of matured reverse repurchases, the net investment on the day was 148.3 billion yuan [3] - The central bank carried out 900 billion yuan of 1 - year MLF operations in October. After offsetting the 700 billion yuan of matured MLF, the net investment of MLF this month was 20 billion yuan, and it was the 8th consecutive month of incremental roll - over [4] - In addition to MLF, the central bank conducted 1700 billion yuan of outright reverse repurchases in October, and achieved a net investment of 400 billion yuan after offsetting the 1300 billion yuan of matured outright reverse repurchases [4] Stock Index Futures Market - On October 27, the CSI 300 rose 1.19% to 4716, the SSE 50 rose 0.78% to 3070, the CSI 500 rose 1.67% to 7379, and the CSI 1000 rose 1.03% to 7495 [5] - Most industry sectors closed higher, with sectors such as electronic chemicals, small metals, shipbuilding, energy metals, semiconductors, iron and steel, and electronic components leading the gains, while wind power equipment and game sectors leading the losses [5] - The trading volume of the Shanghai and Shenzhen stock markets reached 2340.1 billion yuan, a significant increase of 365.9 billion yuan compared with the previous trading day [5] - For stock index futures, IF's current - month contract closed at 4701 with a 1.1% increase, IH's current - month contract closed at 3067 with a 0.6% increase, IC's current - month contract closed at 7310 with a 1.4% increase, and IM's current - month contract closed at 7399 with a 0.4% increase [5] - IF's trading volume was 113332, a 2.5% decrease; its open interest was 262244, a 2.7% increase. IH's trading volume was 56298, a 4.5% decrease; its open interest was 98162, a 3.0% increase. IC's trading volume was 136694, a 0.8% decrease; its open interest was 252585, a 3.7% increase. IM's trading volume was 214742, a 4.3% decrease; its open interest was 358844, a 2.8% increase [5] - The premium/discount rates of IF were 4.65% for the current - month contract, 4.62% for the next - month contract, 3.23% for the current - quarter contract, and 3.14% for the next - quarter contract. For IH, they were 1.01%, 0.61%, 0.03%, and 0.11% respectively. For IC, they were 13.65%, 11.67%, 10.18%, and 10.02% respectively. For IM, they were 18.70%, 15.88%, 13.19%, and 12.51% respectively [7] International Trade and Market Impact - On October 26, the China - US economic and trade teams concluded a two - day consultation in Kuala Lumpur. After the talks, the US Treasury Secretary said that the two sides reached a "very substantial framework agreement", and the US "no longer considers" imposing a 100% tariff on China [6]