【笔记20251014— 中美博弈再起，股债表现淡定】

Core Viewpoint - The article discusses the impact of market sentiment on investment decisions, emphasizing the importance of not following the market's extreme emotions, which can lead to buying at low points and selling at high points [1]. Market Overview - The market showed a mixed performance with a strong start in the morning, followed by a weakening trend in the afternoon. The Ministry of Commerce's countermeasures against five U.S. companies contributed to the afternoon decline [5][6]. - The central bank conducted a 910 billion yuan reverse repurchase operation, with no reverse repos maturing today, resulting in a net injection of 910 billion yuan into the market [3]. - The 10-year government bond yield fluctuated, reaching a high of 1.778% before retreating to 1.768% in the morning session, indicating cautious sentiment in the bond market [5]. Interest Rates and Bond Market - The funding rates remained stable, with DR001 around 1.31% and DR007 around 1.43% [4]. - The bond market experienced a slight decline in yields, with the 10-year government bond yield closing at 1.7525%, down from earlier highs [5][9]. - The article highlights the performance of various bonds, noting that long-term bonds showed a slight increase in yields while short-term bonds remained stable [9]. Investor Sentiment - Investors expressed mixed feelings, with some believing that the market should have declined but instead saw an increase, while others noted a potential correction in the market [6][7]. - The article mentions a significant increase in short positions in Bitcoin, indicating a shift in investor sentiment towards riskier assets [8].