瑞达期货股指期货全景日报-20260224

Report Overview - The report is a daily panorama of stock index futures on February 24, 2026, providing data on futures contracts, market sentiment, and industry news [1][2] Futures Contract Data Price Changes - IF主力合约（2603）最新价格4683.4，环比上涨43.8；IF次主力合约（2602）最新价格4711.2，环比上涨60.6 [2] - IH主力合约（2603）价格3037.4，环比上涨7.2；IH次主力合约（2602）价格3042.6，环比上涨11.0 [2] - IC主力合约（2603）价格8371.6，环比上涨75.2；IC次主力合约（2602）价格8400.6，环比上涨91.4 [2] - IM主力合约（2603）价格8271.0，环比上涨57.6；IM次主力合约（2602）价格8310.6，环比上涨85.2 [2] Spread Changes - IF - IH当月合约价差1668.6，环比上涨50.6；IC - IF当月合约价差3689.4，环比上涨49.4 [2] - IM - IC当月合约价差 - 90.0，环比下降7.0；IC - IH当月合约价差5358.0，环比上涨100.0 [2] - IM - IF当月合约价差3599.4，环比上涨42.4；IM - IH当月合约价差5268.0，环比上涨93.0 [2] Seasonal Spread Changes - IF当季 - 当月为 - 70.8，环比下降15.0；IF下季 - 当月为 - 127.4，环比下降19.0 [2] - IH当季 - 当月为 - 11.6，环比下降4.6；IH下季 - 当月为 - 42.2，环比下降3.2 [2] - IC当季 - 当月为 - 128.4，环比下降10.8；IC下季 - 当月为 - 254.4，环比下降19.6 [2] - IM当季 - 当月为 - 200.0，环比下降21.6；IM下季 - 当月为 - 380.2，环比下降32.2 [2] Net Position Changes - IF前20名净持仓 - 38,036.00，环比下降114.0；IH前20名净持仓 - 20,771.00，环比上涨495.0 [2] - IC前20名净持仓 - 39,965.00，环比上涨397.0；IM前20名净持仓 - 62,005.00，环比下降1727.0 [2] Spot Price and Market Sentiment Spot Price - 沪深300指数4707.54，环比上涨47.1；IF主力合约基差 - 24.1，环比上涨9.3 [2] - 上证50指数3,041.3，环比上涨7.0；IH主力合约基差 - 3.9，环比上涨10.4 [2] - 中证500指数8,392.9，环比上涨93.3；IC主力合约基差 - 21.3，环比上涨3.5 [2] - 中证1000指数8,299.8，环比上涨94.9；IM主力合约基差 - 28.8，环比下降12.9 [2] Market Sentiment - A股成交额22,181.61亿元，环比上涨2192.19亿元；两融余额25,881.25亿元，环比下降574.77亿元 [2] - 北向成交合计2696.41亿元，环比下降200.17亿元；逆回购到期量 - 14524.0亿元，操作量 + 5260.0亿元 [2] - 主力资金 - 367.41亿元，环比上涨63.78亿元；上涨股票比例73.09%，环比上涨45.02% [2] - IO平值看涨期权收盘价66.00，环比上涨4.00；IO平值看涨期权隐含波动率14.02%，环比下降3.28% [2] - IO平值看跌期权收盘价77.40，环比下降51.80；IO平值看跌期权隐含波动率14.02%，环比下降4.04% [2] - 沪深300指数20日波动率13.68%，环比上涨0.53%；成交量PCR 65.49%，环比下降3.44% [2] - 持仓量PCR 66.91%，环比上涨2.29% [2] - Wind市场强弱分析：全部A股7.30，环比上涨3.90；技术面7.30，环比上涨4.50；资金面7.20，环比上涨3.30 [2] Industry News - In January, the increment of social financing scale was 7.22 trillion yuan, 166.2 billion yuan more than the same period last year; RMB loans increased by 4.71 trillion yuan, with the balance at the end of the month reaching 276.62 trillion yuan, a year - on - year increase of 6.1%. At the end of January, M2 increased by 9% year - on - year, and M1 increased by 4.9% year - on - year [2] - On February 24, 2026, the 1 - year LPR was 3.0%, and the 5 - year LPR was 3.5%. LPR has remained stable for 9 consecutive months [2] - A - share major indexes closed generally higher. The three major indexes first declined and then rose in the morning, and fell again in the afternoon, recording a false negative line. Small and medium - cap stocks outperformed large - cap blue - chip stocks. The Shanghai Composite Index rose 0.87%, the Shenzhen Component Index rose 1.36%, and the ChiNext Index rose 0.99%. The trading volume of the Shanghai and Shenzhen stock markets rebounded significantly. More than 4000 stocks in the whole market rose. Most industry sectors rose, with the petrochemical and building materials sectors strengthening significantly, and the media sector weakening significantly [2] - Overseas, after the Supreme Court overturned the tariffs imposed by Trump, he signed an executive order to impose new tariffs, which intensified market distrust of US dollar assets. Domestically, during the festival, the average daily sales of key retail and catering enterprises increased by 8.6% compared with the same period in 2025, with the growth rate further increasing in the first four days of the holiday, reaching 10.6% in some periods, indicating a recovery in consumer spending. In terms of capital, the January financial data showed a significant year - on - year increase in non - bank deposits and a significant decline in the year - on - year growth rate of household deposits. The difference between the growth rate of household deposits and M2 growth rate fell into negative territory, and the ratio of A - share market value to household deposits rose to 68%, indicating an accelerated transfer of household deposits [2] Viewpoint Summary - Although overseas trade disturbances continue, the US use of tariffs as a weapon weakens market confidence in US dollar assets, leading to capital outflows from the US and providing a good opportunity for A - shares. The transfer of household deposits also provides liquidity support for the stock market. The continuous high consumer spending during the Spring Festival shows the effectiveness of domestic demand expansion policies. With the approaching of the Two Sessions and the strengthening of the RMB during the Spring Festival, A - shares are expected to continue the upward trend after a good start [2] Key Data to Watch - February 25, 18:00: Eurozone January HCPI and core HCPI final values [3] - February 26, 21:30: US initial jobless claims for the week ended February 21 [3] - February 27, 21:30: US January PPI and core PPI [3]