《金融》日报-20260128

1. Report Industry Investment Rating - No information provided regarding the industry investment rating in the given reports. 2. Core Views 2.1. Precious Metals - The short - term market for precious metals is affected by geopolitical situations and the upcoming Fed decision. Gold prices are expected to maintain a strong and volatile trend. It is recommended to take profits on gold long positions at high prices and buy out - of - the - money call options instead of taking long positions. [3] - For silver, rising raw material costs may reduce industrial demand, but new demand from AI and other fields may support prices. ETF holdings are falling due to regulatory restrictions, and short - term prices may experience sharp fluctuations. It is advisable to pay attention to risk - control measures and adopt a strategy of buying on dips with light positions. [3] - Platinum and palladium prices are supported by their macro - financial attributes and tight supply, and their price centers are rising in tandem with gold. However, the easing supply in the London spot market may limit the upside. It is recommended to buy on dips and sell at high prices within a day. [3] 2.2. Container Shipping - The container shipping market shows a downward trend in freight rates. The SCFIS and SCFI indices for major routes have declined, and most futures contracts have also decreased. Although there are some positive signs in fundamentals such as an increase in port punctuality and export volume, the overall market remains under pressure. [5] 3. Summary by Relevant Catalogs 3.1. Stock Index Futures Spread Daily Report - Spot - Futures Spread: F has a spot - futures spread of 12.51, H has 11.61, IC has - 1.33, and IM has - 24.95. Their historical 1 - year and all - time percentiles vary, and there are also changes compared to the previous day. [1] - Inter - delivery Spread: There are significant differences in inter - delivery spreads (such as next - month minus current - month, quarterly - month minus current - month, etc.) among different varieties, and their percentiles also show different levels. [1] - Cross - Variety Ratio: Ratios such as CSI 300/Shanghai Stock Exchange 50, CSI 1000/CSI 300, and others have their own values, changes, and percentiles. [1] 3.2. Treasury Bond Futures Spread Daily Report - IRR and Basis: Different varieties (TS, TF, T, TL) have their own implied repo rates (IRR) and basis values, along with changes compared to the previous day and their percentiles since listing. [2] - Inter - delivery Spread: Each variety has inter - delivery spreads (such as current - quarter minus next - quarter, next - quarter minus the quarter after next), with corresponding changes and percentiles. [2] - Cross - Variety Spread: Spreads between different varieties (TS - T, TF - T, etc.) are provided, along with their changes and percentiles. [2] 3.3. Precious Metals Spot - Futures Daily Report - Domestic Futures Closing Prices: For AU2604, AG2604, PT2606, and PD2606 contracts, their closing prices on January 27 and 26, price changes, and percentage changes are given. [3] - Foreign Futures Closing Prices: Closing prices, price changes, and percentage changes of COMEX gold, silver, NYMEX platinum, and palladium futures on January 27 and 26 are presented. [3] - Spot Prices: Spot prices of London gold, silver, platinum, and palladium, as well as Shanghai Gold Exchange's T + D products, are provided, along with their changes and percentage changes. [3] - Basis: The basis values of gold TD - Shanghai gold main contract, silver TD - Shanghai silver main contract, etc., their changes, and historical 1 - year percentiles are shown. [3] - Price Ratios: Ratios such as COMEX gold/silver, Shanghai Futures Exchange gold/silver, etc., their changes, and percentage changes are given. [3] - Interest Rates and Exchange Rates: Values, changes, and percentage changes of 10 - year and 2 - year US Treasury yields, 10 - year TIPS Treasury yields, US dollar index, and offshore RMB exchange rate are presented. [3] - Inventory and Holdings: Inventory and holding data of Shanghai Futures Exchange and COMEX for gold and silver, as well as ETF holdings, are provided, along with their changes and percentage changes. [3] 3.4. Container Shipping Industry Spot - Futures Daily Report - Shipping Indices: SCFIS (European and US - West routes) and SCFI (composite, European, US - West, and US - East routes) indices show their values, changes, and percentage changes on different dates. [5] - Futures Prices and Basis: Futures prices of different contracts (EC2602, EC2604, etc.) and the basis of the main contract are provided, along with their changes and percentage changes. [5] - Fundamental Data: Global container shipping capacity supply, port punctuality, port calls, monthly export volume, and overseas economic indicators (such as Eurozone PMI, EU consumer confidence index, US manufacturing PMI, etc.) are presented, along with their changes and percentage changes. [5]