宝城期货国债期货早报（2026年1月26日）-20260126

Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoints of the Report - The short - term view of Treasury bond futures is to oscillate and consolidate. The possibility of a comprehensive interest rate cut in the short term has decreased. Although there is support due to the need for a loose monetary and credit environment, the upward momentum is insufficient because the macro - demand has resilience and the urgency of a short - term comprehensive interest rate cut is weak [1][5] Group 3: Summary by Relevant Catalogs Variety Viewpoint Reference - Financial Futures Stock Index Sector - For the TL2603 variety, the short - term view is oscillatory, the medium - term view is oscillatory, and the intraday view is weak. The overall view is oscillatory consolidation, with the core logic being the reduced possibility of a short - term comprehensive interest rate cut [1] Main Variety Price Market Driving Logic - Financial Futures Stock Index Sector - For varieties TL, T, TF, TS, the intraday view is weak, the medium - term view is oscillatory, and the reference view is oscillatory consolidation. The core logic is that last Friday, Treasury bond futures oscillated and consolidated. Due to the existing problem of relatively insufficient domestic demand and the policy support for technological innovation and consumption internal circulation, the future monetary and credit environment needs to be loose, providing strong support for Treasury bond futures. However, the macro - demand has resilience, and the short - term urgency for a comprehensive interest rate cut is weak, resulting in insufficient upward momentum for Treasury bond futures. In general, Treasury bond futures will mainly oscillate and consolidate in the short term [5]