宏观金融数据日报-20260114

Report Summary 1. Report's Industry Investment Rating - Not provided in the given content. 2. Core Viewpoints - This week, the capital market has shown a slight contraction, with the weighted average rate of DR001 rising to around 1.30%. The central bank's open - market operations have multiple large - scale reverse repurchase maturities this week. [4] - Yesterday, the Shanghai Composite Index ended its 17 - day winning streak, and the trading volume of the three major stock markets reached a record high. The industry sectors had more decliners than gainers. [5] - After the recent strong and volume - expanding breakthrough of the stock index, the market capital is abundant, opening up a new upward space. With the positive feedback of macro - fundamental data, it is expected that the stock index will continue to rise after short - term shock adjustment. In the long run, the stock index in 2026 is expected to rise. It is recommended that investors mainly go long and give priority to far - month contracts. [6] 3. Summary by Relevant Catalogs 3.1 Macro - financial Data - Interest Rates: DRO01 closed at 1.39, up 6.47bp; DR007 closed at 1.55, up 5.72bp; GC001 closed at 1.47, down 11bp; GC007 closed at 1.56, down 3bp; SHBOR 3M closed at 1.60, up 0.20bp; LPR 5 - year remained at 3.50, unchanged. The 1 - year treasury bond yield was 1.24, up 0.25bp; the 5 - year treasury bond yield was 1.60, up 0.25bp; the 10 - year treasury bond yield was 1.86, down 1.05bp; the 10 - year US treasury bond yield was 4.19, up 1bp. [3] - Central Bank Operations: The central bank conducted 358.6 billion yuan of 7 - day reverse repurchase operations yesterday, with an operating rate of 1.40%. The bid volume, winning bid volume were 358.6 billion yuan each. With 16.2 billion yuan of reverse repurchase maturing on the same day, the net investment on the day was 342.4 billion yuan. [3] 3.2 Stock Index and Futures - Stock Index Closing Prices and Changes: The CSI 300 closed at 4761, down 0.60%; the SSE 50 closed at 3133, down 0.34%; the CSI 500 closed at 8143, down 1.28%; the CSI 1000 closed at 8203, down 1.84%. [5] - Futures Closing Prices and Changes: IF current - month contract closed at 4766, down 0.5%; IH current - month contract closed at 3137, down 0.2%; IC current - month contract closed at 8173, down 1.2%; IM current - month contract closed at 8234, down 1.9%. [5] - Trading Volume and Open Interest Changes: IF trading volume was 172,729, up 10.7%; IF open interest was 307,410, up 1.8%; IH trading volume was 67,378, up 24.7%; IH open interest was 94,858, up 3.4%; IC trading volume was 212,314, up 4.4%; IC open interest was 317,086, up 2.0%; IM trading volume was 305,102, up 2.2%; IM open interest was 401,618, down 0.4%. [5] - Premium and Discount Situation: Different contracts of IF, IH, IC, and IM have different premium and discount rates. For example, IF current - month contract had a premium/discount rate of 2.25%, and some contracts had significant discount rates. [7]