宏观金融数据日报-20260204

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The stock index rebounded strongly yesterday, but the market trading volume shrank. The market sentiment gradually recovered with the rebound of overseas precious metal prices, and the stock index oscillated upward in the afternoon and closed at the intraday high. In the short term, it is necessary to pay attention to whether the panic caused by the tightening of overseas liquidity is effectively alleviated. It is expected that the stock index will mainly consolidate after the shrinking - volume rebound. In the long run, in the context of low - interest rates and "asset shortage", the domestic market funds are still relatively abundant, and the stock index's medium - and long - term upward trend is not expected to end as the economy is in the process of bottom - building [6]. 3. Summary by Relevant Catalogs Market Data - Interest Rates: DR001 closed at 1.32 with a - 4.73bp change, DR007 at 1.50 with a 0.69bp change, GC001 at 1.60 with a - 18.00bp change, GC007 at 1.61 with a - 3.00bp change, SHBOR 3M at 1.59 with a - 0.30bp change, LPR 5 - year at 3.50 with a 0.00bp change, 1 - year treasury bond at 1.30 with a - 0.50bp change, 5 - year treasury bond at 1.57 with a - 0.75bp change, 10 - year treasury bond at 1.81 with a - 0.40bp change, and 10 - year US treasury bond at 4.29 with a 3.00bp change [3]. - Stock Indexes: The CSI 300 rose 1.18% to 4660.1, the SSE 50 rose 1.05% to 3034.6, the CSI 500 rose 3.11% to 8286.7, and the CSI 1000 rose 2.93% to 8209.1. The trading volume of the Shanghai, Shenzhen, and Beijing stock markets was 2565.8 billion yuan, a slight decrease of 4.1 billion yuan from the previous day. Industry sectors generally rose, with shipbuilding, photovoltaic equipment, small metals, glass fiber, engineering machinery, communication equipment, and aerospace sectors surging, while only the banking, insurance, and brewing industries declined [5]. - Futures Contracts: IF当月 rose 1.6% to 4658, IH当月 rose 1.0% to 3033, IC当月 rose 4.3% to 8296, IM当月 rose 3.8% to 8213. IF trading volume was 141,785 with a - 25.9% change, IF open interest was 311,044 with a - 0.9% change, IH trading volume was 63,934 with a - 28.4% change, IH open interest was 114,505 with a - 4.0% change, IC trading volume was 221,446 with a - 23.4% change, IC open interest was 327,164 with a - 0.5% change, IM trading volume was 257,636 with a - 16.1% change, and IM open interest was 405,518 with a - 2.1% change [5]. - Futures Basis: IF basis was 1.16% (current - month contract), 1.24% (next - month contract), 2.02% (current - quarter contract), 2.90% (next - quarter contract); IH basis was 1.26% (current - month contract), 0.42% (next - month contract), 0.83% (current - quarter contract), 1.84% (next - quarter contract); IC basis was - 2.36% (current - month contract), 0.46% (next - month contract), 3.14% (current - quarter contract), 3.72% (next - quarter contract); IM basis was - 1.02% (current - month contract), 2.58% (next - month contract), 5.82% (current - quarter contract), 6.33% (next - quarter contract) [7]. Central Bank Operations - The central bank conducted 105.5 billion yuan of 7 - day reverse repurchase operations yesterday at an operating rate of 1.40%, with a bid volume, winning bid volume of 105.5 billion yuan. 402 billion yuan of reverse repurchases matured on the same day, resulting in a net withdrawal of 296.5 billion yuan for the day [3]. - This week, 1761.5 billion yuan of reverse repurchases will mature in the central bank's open market. From Monday to Friday, 150.5 billion yuan, 402 billion yuan, 377.5 billion yuan, 354 billion yuan, and 477.5 billion yuan will mature respectively. In addition, 700 billion yuan of 91 - day outright reverse repurchases will mature on Wednesday [4].