光大期货金融期货日报-20260324

Report's Industry Investment Rating - No information provided 2. Core Viewpoints of the Report - For stock index futures, market sentiment is volatile. A-share market had a significant decline, with the Wind All A index down 4.08% and a trading volume of 2.45 trillion yuan. The escalation of the US-Iran conflict and the Fed's hawkish stance increased market risk aversion. It is recommended to balance large and small-cap index allocations to hedge risks [1]. - For treasury bond futures, the short - term trend is relatively strong. However, considering the current environment of precise liquidity adjustment, economic recovery, and rising inflation, the bond market is generally under pressure in the long - term. Short - term bonds are relatively more stable due to capital support [1][2]. 3. Summary by Relevant Catalogs Research Views - Stock Index Futures: A-share market had a broad decline, with the CSI 1000 down 4.81%, CSI 500 down 4.11%, SSE 50 down 3.17%, and SSE 300 down 3.26%. The US-Iran conflict and the Fed's hawkish attitude led to increased risk - aversion in the capital market. In the medium - term, the technology sector in A - shares may experience a valuation decline [1]. - Treasury Bond Futures: The 30 - year main contract rose 0.07%, while the 10 - year, 5 - year, and 2 - year main contracts fell 0.09%, 0.05%, and 0.02% respectively. The central bank conducted 80 billion yuan of 7 - day reverse repurchase, with a net withdrawal of 1293 billion yuan. The current environment is generally negative for the bond market [1]. Daily Price Changes - Stock Index Futures: IH decreased by 3.13% from 2,865.8 to 2,776.0; IF remained unchanged at 4,486.4; IC decreased by 4.29% from 7,559.4 to 7,235.0; IM decreased by 4.89% from 7,560.0 to 7,190.0 [3]. - Stock Indexes: SSE 50 decreased by 3.17% from 2,883.9 to 2,792.3; SSE 300 decreased by 3.26% from 4,567.0 to 4,418.0; CSI 500 decreased by 4.11% from 7,760.0 to 7,440.7; CSI 1000 decreased by 4.81% from 7,783.4 to 7,409.1 [3]. - Treasury Bond Futures: TS decreased by 0.02% from 102.52 to 102.50; TF decreased by 0.04% from 105.99 to 105.94; T decreased by 0.08% from 108.26 to 108.17; TL increased by 0.04% from 110.67 to 110.71 [3]. Market News - A - share market had a significant decline, with the Shanghai Composite Index down 3.63%, the Shenzhen Component Index down 3.76%, and the ChiNext Index down 3.49%. Only a few sectors such as coal and oil and gas were strong, while sectors like precious metals and tourism declined sharply [4]. Chart Analysis - Stock Index Futures: Charts show the historical trends and basis trends of IH, IF, IC, and IM main contracts [6][7][8][9]. - Treasury Bond Futures: Charts display the trends of treasury bond futures main contracts, spot yields, basis, inter - period spreads, cross - variety spreads, and capital interest rates [12][13][14][15][17]. - Exchange Rates: Charts present the exchange rate trends between the US dollar, euro, pound, yen against the RMB, as well as the US dollar index and the euro - US dollar exchange rate [19][20][21][23][24].