大类资产与基金周报：黄金冲高回落，商品基金涨幅4.75%

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The report highlights that the commodity fund has recorded a significant increase of 4.75% this week, with gold experiencing a pullback after reaching a peak [16][49]. - The A-share market saw the Shanghai Composite Index close at 4117.95, reflecting a decline of 0.44%, while the Shenzhen Component Index and other indices experienced varying degrees of decline [3][8]. - In the bond market, the 1-year, 3-year, and 10-year government bond yields were reported at 1.30%, 1.40%, and 1.81%, respectively, with slight fluctuations in yields [25][26]. - The commodity market showed mixed results, with crude oil prices increasing by 6.60%, while other commodities like lithium carbonate and live pigs saw significant declines [30][31]. Summary by Sections 1. Major Asset Market Overview (1) Equity - The A-share market indices showed varied performance, with the Shanghai Composite Index down by 0.44% and significant declines in the Shenzhen Component and other indices [3][8]. - The petrochemical, communication, and coal sectors performed well, with increases of 7.95%, 5.83%, and 3.68%, respectively, while the military, electric equipment, and automotive sectors faced declines of -7.69%, -5.10%, and -5.08% [8][14]. (2) Bonds - The report indicates that the 1-year, 3-year, and 10-year government bond yields were 1.30%, 1.40%, and 1.81%, with changes of 1.80 basis points, -2.09 basis points, and -1.86 basis points, respectively [25][26]. - The credit spreads for 1-year AAA corporate bonds and local government bonds were 40.09 basis points and 39.36 basis points, showing slight decreases [25]. (3) Commodities - The commodity market saw crude oil prices rise by 6.60%, while other commodities like lithium carbonate and live pigs experienced declines of -18.52% and -1.36%, respectively [30][31]. - The South China index reported increases in various sectors, with the comprehensive index rising by 2.60% [34]. (4) Foreign Exchange - The report notes fluctuations in currency exchange rates against the RMB, with the US dollar depreciating by 0.22% and the euro appreciating by 1.30% [36][37]. 2. Fund Market Overview (1) New Fund Establishments - A total of 43 new funds were established this week, including 34 equity funds and 5 fixed-income plus funds, with notable large-scale funds such as Huabao Advantage Industry A at 57.77 billion [40][41]. (2) Fund Size and Quantity - As of January 30, 2026, there are 13,633 open-end public funds with a total size of 37.59 trillion, with equity funds making up the largest share [42][44]. (3) Performance Comparison - Commodity funds led the performance with a weekly increase of 4.75%, while gold and other precious metals showed mixed results [49][50].