大类资产运行周报（20260302-20260306）：中东局势持续紧张，大宗商品周度上涨-20260309

1. Report Industry Investment Rating No information provided in the given content. 2. Core Viewpoints of the Report - From March 2nd to March 6th, the global and domestic major asset performance showed a pattern of stocks and bonds declining while commodities rising, with commodities > bonds > stocks. The Middle - East situation remained tense, and the US February non - farm payrolls were negative, falling short of expectations. The dollar index rose weekly. The short - term impact of the Middle - East situation on major asset prices may continue [2][3][6]. 3. Summary by Relevant Catalogs 3.1 Global Major Asset Overall Performance: Stocks and Bonds Decline, Commodities Rise - Global Stocks: Global major stock markets generally declined. European stocks had the largest decline, and emerging markets underperformed developed markets. The VIX index rose significantly. For example, MSCI Europe fell 7.34% weekly [8][12]. - Global Bonds: The yield of 10 - year US Treasury bonds rose by 18BP to 4.15% weekly. The bond market declined, and high - yield bonds > credit bonds > government bonds globally [14]. - Global Foreign Exchange: Affected by liquidity concerns, the dollar index rose 1.34% weekly, and major non - US currencies depreciated against the dollar, with the RMB exchange rate falling [15]. - Global Commodity Market: Geopolitical factors drove up international crude oil prices. International gold and silver prices fell significantly, major non - ferrous metals prices fluctuated, and agricultural product prices generally rose. For instance, Brent crude oil rose 27.47% weekly [17][18]. 3.2 Domestic Major Asset Performance: Stocks Decline, Bonds Perform Strongly, Commodities Rise - Domestic Stocks: A - share major broad - based indexes generally declined, but the average daily trading volume of the two markets increased. Large - cap blue - chips were relatively resistant to decline. The petroleum and petrochemical, and coal sectors led the gains, while the media and non - ferrous sectors performed poorly. The Shanghai Composite Index fell 0.93% weekly [22]. - Domestic Bonds: The central bank's open - market operations had a net withdrawal of 14,474 billion yuan, and the capital market was relatively loose. The bond market performed strongly, with government bonds > credit bonds > corporate bonds [23]. - Domestic Commodity Market: The domestic commodity market rose weekly. The energy and chemical sectors led the gains, while the precious metal sector performed poorly. The Nanhua Commodity Index rose 6.43% weekly [25][26]. 3.3 Major Asset Price Outlook - Middle - East major oil - producing countries have announced production cuts, and the Middle - East situation has had a real impact on crude oil production. The short - term impact on major asset prices may continue [28].