Group 1 - The Deputy Governor of the Bank of England, Breeden, stated that climate risks are "real and tangible" [1] - The impact of climate change on inflation is "not very obvious" [1]

Core Viewpoint - The Deputy Governor of the Bank of England, Jon Cunliffe, emphasized that climate risks are "real and present," indicating a growing recognition of the financial implications of climate change [1] Group 1: Climate Risk Awareness - The Bank of England is actively addressing the financial risks associated with climate change, highlighting the need for financial institutions to incorporate climate risk into their risk management frameworks [1] - Cunliffe pointed out that climate change could lead to significant economic disruptions, affecting various sectors and potentially leading to financial instability [1] Group 2: Regulatory Implications - The Deputy Governor mentioned that regulatory measures are being considered to ensure that financial institutions adequately disclose their exposure to climate risks [1] - There is an ongoing discussion about the role of central banks in mitigating climate-related financial risks, suggesting a shift in regulatory focus towards sustainability [1]

美联储穆萨莱姆：非银行金融风险需要得到很好的监控。 ...

美联储穆萨莱姆：有理由关注劳动力市场的下行风险，包括工作时间和薪酬的下降。 ...

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Core Viewpoint - The article emphasizes the risks associated with misleading advertising that induces online loans, highlighting the need for consumers to be vigilant and aware of potential financial traps [2][4][7]. Summary by Sections Inducement Tactics in Online Lending - The article outlines three main tactics used by fraudulent institutions to mislead consumers into online loans: 1. Confusing concepts to mislead loans, such as using terms like "installment payment" instead of "installment loan," which can lead to consumers signing contracts without fully understanding the terms [4]. 2. False promises to induce loans, where institutions make exaggerated claims about outcomes, such as guaranteed job placements or government grants, often leading to unfavorable contract terms for consumers [4]. 3. Concealing actual loan costs, where institutions promote low surface interest rates while hiding higher actual rates and additional fees, resulting in consumers paying much more than expected [5]. Consumer Protection Measures - The article advises consumers to reject enticing but misleading sales pitches and to be cautious when providing personal information [6]. - It encourages consumers to verify the legitimacy of institutions by checking their qualifications through official channels and to protect their personal information to avoid potential misuse [7]. - The article also mentions recent warnings from various financial regulatory bodies regarding illegal lending practices targeting vulnerable groups, such as students, and the need for consumers to be aware of the risks associated with third-party loan applications [8].

今年以来，ST股整体走势强劲，近期这种强势格局仍在延续。数据显示，万得ST板块指数今年以来累 计已上涨约15%，年内已有包括*ST宇顺、ST信通、*ST亚振、ST华通、ST迪威迅、*ST华微在内的多 只ST股累计涨幅超过100%。 一方面，回到ST公司的本源来看，相关公司普遍是因出现财务状况异常情况或者其他异常情况，导致 其股票存在被强制终止上市的风险，或者投资者难以判断公司前景，投资者权益可能受到损害，存在其 他重大风险，交易所对相关公司股票实施风险警示，由此给股票简称打上"ST"或"*ST"标识，起到警示 投资风险的作用。这意味着，ST股群体相较于其他多数股票，一般在基本面上就存在更大风险，这种 相对较差的基本面随时可能传导到股价层面。比如，对于一些ST公司而言，一旦导致其被实施风险警 示的因素进一步恶化，相关公司就有可能触及强制退市标准，从而使得相关公司股价面临更大压力。 另一方面，历史上ST股群体的整体表现也几经沉浮，并非长久不衰。事实上，回溯历史数据可以发 现，在今年之前，万得ST板块指数曾连续三年下跌，这从一个侧面说明ST股整体表现具有一定的趋势 性和波段性特征。一旦相关影响因素发生趋势性变化，S ...

Core Viewpoint - The article discusses the fallout from a leaked phone call between Thailand's Prime Minister Phaetongtarn Shinawatra and Cambodian leader Hun Sen, leading to Phaetongtarn's suspension and a political crisis in Thailand [1][2][6]. Group 1: Political Context - Phaetongtarn Shinawatra was suspended from her role as Prime Minister following a leaked recording of her conversation with Hun Sen, which raised suspicions of her being too close to Cambodia [1][9]. - The leaked recording has led to significant political repercussions, including the withdrawal of the Bhumjaithai Party from the ruling coalition and calls for Phaetongtarn to take responsibility for the incident [9][10]. - The relationship between Thailand and Cambodia has deteriorated, with military tensions escalating along the border, highlighted by a brief conflict in May that resulted in casualties [5][10]. Group 2: Personal Dynamics - Thaksin Shinawatra, Phaetongtarn's father and former Prime Minister, expressed shock at Hun Sen's actions and stated that their previously close relationship has been irreparably damaged [1][2]. - Thaksin indicated that the phone call was initiated by Hun Sen and criticized the manner in which it was conducted, suggesting it was premeditated to facilitate recording [2][5]. - Phaetongtarn's attempt to negotiate with Hun Sen was framed as a misjudgment, reflecting the complexities of diplomatic relations and personal ties between the two families [6][10]. Group 3: Public Reaction and Future Implications - The public response to the "phone call scandal" has been significant, with protests erupting in Bangkok demanding Phaetongtarn's resignation, indicating a loss of public trust [10]. - Analysts suggest that the political landscape in Thailand is influenced by deep-seated power dynamics, including the military's role, which could impact Phaetongtarn's political future [10]. - The potential for judicial repercussions remains, as Phaetongtarn has a limited timeframe to respond to the impeachment petition, and her ability to regain public trust is critical for her political survival [9][10].

南华原油市场日报 2025年7月10日 ——原油延续累库，成品油库存下降 杨歆悦（投资咨询证号：Z0022518） 南华研究院投资咨询业务资格：证监许可【2011】1290号 【核心观点】 EIA最新数据显示原油延续第二周累库，同API数据反映的趋势相似，但美国汽柴油库存持续处于偏低水 平，且去库趋势进一步强化了市场对需求回暖的预期。在此背景下，成品油市场的良好表现及裂解价差的 支撑，将推动美国炼厂维持较高的开工积极性，预计原油加工需求将继续保持稳健态势。 当前原油市场多空因素交织，利多因素在于地缘政治风险抬升、季节性需求支撑，利空因素主要在于 OPEC+增产以及宏观情绪偏低迷。从驱动逻辑上看，OPEC+增产在短期未能传导到现货市场，对原油市场的 影响偏向中长期。需求端，当前处于北半球原油需求高峰期，季节性拐点通常在9月，盘面可能提前交易旺 季拐点，利多周期有限。宏观方面，美国关税大限延期意味着达成贸易协议的概率增加，有利于缓解对全 球经济局势的担忧，对原油市场更多是短期情绪性驱动。地缘风险仍是主要潜在利好，但6月后冲突对油价 刺激效应料将减弱。总的来说，当前多空因素交织下，短期油价有支撑，盘面对利多因素的更 ...

铁合金产业风险管理日报 2025/7/10 周甫翰（Z0020173）陈敏涛（F03118345 ） 投资咨询业务资格：证监许可【2011】1290号 铁合金价格区间预测 【核心矛盾】 铁合金在煤炭价格反弹带动下，以及铁合金受技术性买盘等因素存在一定的反弹情绪 ，上周在提出推出落后 产能维持反弹趋势。近期铁合金上涨的主要逻辑还是在于政策预期和煤炭价格的强势，但现货市场受到钢厂 压价和成本走弱拖累，在终端用钢需求逐渐进入淡季背景下，铁合金长期走势仍相对较弱。 铁合金在利润修 复下，开工率回升，处于一个超季节性增产状态，铁合金产量微增但下游需求并没有明显改变，库存有累库 趋势。锰矿8月报价下调以及澳矿发运恢复，叠加黑色面临需求淡季交易负反馈预期，预计铁合金仍偏弱运 行。上周受到推动落后产能退出政策消息的影响，铁合金作为过剩产业受益相对较大，但盘面回升后，铁合 金利润修复增产的可能性较大，供应压力逐渐增加去库速度变慢，硅铁关注上方5600-5700压力位，硅锰关注 上方5800-5900压力位。短期来看强预期与弱现实的博弈，强预期处于上风，还是要等待预期是否能够真正落 地。 | | 价格区间预测（月度） | 当前波 ...