Group 1 - The article discusses the recent trade agreements between the US and Japan, Indonesia, and the Philippines, highlighting the reduction of tariffs and Japan's commitment to invest $550 billion in key industries [51][52] - The article notes that developed markets have generally seen an increase, with the Nikkei 225 rising by 4.1% and the S&P 500 by 1.5% [4][80] - The article mentions the fluctuations in commodity prices, with WTI crude oil decreasing by 3.2% to $65.2 per barrel, while coking coal prices surged by 36.0% to 1259 yuan per ton [37][38] Group 2 - The article reports that the US Markit Manufacturing PMI fell to 49.5 in July, below the expected 52.7, indicating ongoing disruptions in US industrial production due to tariffs [66][81] - The European Central Bank (ECB) maintained interest rates during its July meeting, aligning with market expectations as inflation returned to target levels [69][81] - The article highlights the mixed performance of emerging market 10-year government bond yields, with Turkey's yield rising significantly by 177.5 basis points to 31.6% [20]
海外高频｜美日关税协议达成，发达市场多数上涨（申万宏观·赵伟团队）
赵伟宏观探索·2025-07-28 12:45