欧元兑日元涨0.63%，英镑兑日元涨0.60%。 周三（6月25日）纽约尾盘，美元兑日元涨0.25%，报145.28日元。 ...

周三（6月25日），韩元兑美元最终跌0.21%，报1361.00韩元。 ...

印度卢比兑美元 汇率上升1%，至1美元兑85.9238卢比。 ...

印度卢比兑美元汇率升破86，涨幅达0.9%，因油价下跌。 美元/印度卢比 ...

智通财经6月23日电，美元兑以色列新谢克尔汇率跌至2023年2月以来最低水平，最新报3.4534。 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The main contract LG2507 of logs closed at 812 yuan per cubic meter as of June 20, up 5.8% from the previous week. The market performance was relatively strong this week, while the fundamental changes were marginal. The monthly spreads widened this week, with the 07 - 09 spread at 14.5 yuan per cubic meter, the 07 - 11 spread at 18 yuan per cubic meter, and the 09 - 11 spread at 3.5 yuan per cubic meter [16]. 3. Summary by Directory 3.1 Supply - As of June 15, a total of 17 vessels departed from New Zealand in June, with 13 bound for mainland China and 4 for Taiwan, China, and South Korea for lightering. Among the vessels departing in June, about 10 are expected to arrive in June and 7 in July. The expected arrival volume in June is 1.51 million cubic meters [5][8]. 3.2 Demand and Inventory - As of the week of June 13, the daily average shipment volume at Lanshan Port was 21,600 cubic meters (a week - on - week decrease of 1,600 cubic meters), and at Taicang Port was 10,300 cubic meters (a week - on - week increase of 0 cubic meters). In terms of port inventory, the inventory at Lanshan Port was about 1.1646 million cubic meters (a week - on - week decrease of 8,000 cubic meters), at Taicang Port was about 501,000 cubic meters (a week - on - week decrease of 10,800 cubic meters), at Xinminzhou was about 421,500 cubic meters (a week - on - week increase of 11,700 cubic meters), and at Jiangdu Port was about 214,600 cubic meters (a week - on - week decrease of 600 cubic meters). The total inventory of the four major ports was 2.3017 million cubic meters, a decrease of 7,700 cubic meters from the previous week [6][13]. 3.3 Market Trends - As of June 20, the closing price of the main contract LG2507 was 812 yuan per cubic meter, up 5.8% from the previous week. The monthly spreads widened, with the 07 - 09 spread at 14.5 yuan per cubic meter, the 07 - 11 spread at 18 yuan per cubic meter, and the 09 - 11 spread at 3.5 yuan per cubic meter [16]. 3.4 Other - As of the week of June 20, the Baltic Dry Index recorded 1,689 points, down 279 points (-14.2%) from the previous week. Its related sub - index, the Handysize Shipping Index (BHSI), recorded 624 points, up 3.3% from the previous week. The Shanghai Containerized Freight Index (SCFI) recorded 1,869.59 points, down 10.5% from the previous week. - In terms of exchange rates, the US dollar index slightly increased after hitting a bottom in the past week. The US dollar to Chinese yuan exchange rate was recorded at 7.180, basically flat week - on - week, and the US dollar to New Zealand dollar exchange rate slightly increased by 0.8% to 1.677 [56][57].

Core Viewpoint - The bond market is showing a strong consolidation trend, with expectations of continued loose monetary policy from the central bank to counter potential external demand pressures [1][7]. Market Performance - Government bond futures closed higher across the board, with the 30-year main contract up by 0.21%, and the 10-year main contract up by 0.02% [2]. - The yields on major interbank bonds mostly declined, with the 10-year government bond yield down by 0.15 basis points to 1.639% [2]. - The China Securities convertible bond index closed down by 0.01%, with a trading volume of 573.28 billion [2]. Overseas Bond Market - In North America, U.S. Treasury yields rose collectively, with the 10-year yield increasing by 1.58 basis points to 4.393% [3]. - In Asia, Japanese bond yields mostly declined, with the 10-year yield down by 1.4 basis points to 1.399% [4]. - In the Eurozone, bond yields generally increased, with the 10-year UK bond yield rising by 3.6 basis points to 4.529% [4]. Primary Market - Shenzhen's local bonds saw high bidding multiples, with the 2-year bond "Shenzhen 2532" having a bid-to-cover ratio of 16.59 [5]. - The 15-year bond "Shenzhen 2533" had a bid-to-cover ratio of 15.27, indicating strong demand [5]. Liquidity and Interest Rates - The LPR remained stable, with the 1-year LPR at 3% and the 5-year LPR at 3.5% [6]. - The central bank conducted a 7-day reverse repurchase operation with a total of 1612 billion, resulting in a net withdrawal of 413 billion for the day [6]. - Short-term Shibor rates mostly increased, with the overnight rate up by 0.1 basis points to 1.368% [6]. Investment Strategy Insights - The bond market is expected to challenge previous lows, with social financing growth projected to peak around 9.0% in July and August before gradually declining [8]. - The central bank's liquidity support has led to a stable funding environment, suggesting that long-term bond yields may have room to decline [8].

俄罗斯几乎没能受益于国际原油价格近期的上涨，因为俄罗斯卢布汇率上升。 随着以色列与伊朗最新一轮冲突推高国际油价，Argus Media Ltd.数据显示，俄罗斯Urals石油价格在6月 13日涨穿60美元/桶。这意味着，2025年以来，（俄罗斯石油出口销售收入）仅仅收复了10%的失地。 彭博根据俄罗斯央行官方汇率测算得出一个结论，俄罗斯石油出口行业那天（前述6月13日）每出口一 桶能收入4957卢布，相比2025年年初的水平低了大约30%。 ...

印度卢比兑美元汇率首次下破86.50，为两个月来最低水平。 美元/印度卢比 ...

Group 1: Stock Index Futures Spread Daily Report Core View - Presents the latest values, changes from the previous day, and historical percentiles of various stock index futures spreads and cross - variety ratios [1] Summary by Directory - **Futures - Spot Spread**: IF is - 7.78 (41.80% 1 - year, 40.00% all - time), IH is - 11.23 (- 2.16 change, 25.40% 1 - year, 19.50% all - time), IC is - 11.24 (8.69 change, 77.00% 1 - year, 67.00% all - time), IM is - 21.81 (13.61 change, 90.00% 1 - year, 48.30% all - time) [1] - **Inter - Delivery Spread**: For different contracts like next - month vs. current - month, season - month vs. current - month, far - month vs. current - month, values and changes are provided for IF, IH, IC, and IM [1] - **Cross - Variety Ratio**: Such as CSI 500/CSI 300 = 1.4855 (- 0.0046 change, 60.20% 1 - year, 41.10% all - time), IC/IF = 1.4856 (- 0.0027 change, 64.70% 1 - year, 59.30% all - time), etc. [1] Group 2: Treasury Bond Futures Spread Daily Report Core View - Shows the latest values, changes from the previous trading day, and percentiles since listing of various treasury bond futures spreads and basis [4] Summary by Directory - **Basis**: TS basis has an IRR of 1.7719 (- 0.0506 change, 33.90% percentile), TF basis has an IRR of 1.8376 (- 0.0358 change, 51.80% percentile), etc. [4] - **Inter - Delivery Spread**: For different contracts like current - season vs. next - season, values and changes are provided for TS, TF, T, and TL [4] - **Cross - Variety Spread**: Such as TS - TF = - 3.7110 (- 0.0300 change, 2.00% percentile), TF - T = - 2.8450 (0.0250 change, 1.40% percentile), etc. [4] Group 3: Precious Metals Spot - Futures Daily Report Core View - Provides information on domestic and foreign futures closing prices, spot prices, basis, price ratios, interest rates, exchange rates, inventory, and positions of precious metals [7] Summary by Directory - **Futures Closing Prices**: Domestic AU2508 contract is 794.36 yuan/g (1.17% increase), AG2508 contract is 8791 yuan/kg (- 0.32% decrease); foreign COMEX gold is 3452.60 dollars/ounce (1.36% increase), COMEX silver is 36.37 dollars/ounce (- 0.11% decrease) [7] - **Spot Prices**: London gold is 3433.35 dollars/ounce (1.40% increase), London silver is 36.29 dollars/ounce (- 0.13% decrease), etc. [7] - **Basis**: Gold TD - Shanghai gold main contract is - 3.50 (1.30 change, 12.40% 1 - year percentile), silver TD - Shanghai silver main contract is 2 (- 49 previous, 91.10% 1 - year percentile) [7] - **Price Ratios**: COMEX gold/silver is 94.93 (1.37 change, 1.47% increase), Shanghai Futures Exchange gold/silver is 90.36 (1.33 change, 1.49% increase) [7] - **Interest Rates and Exchange Rates**: 10 - year US Treasury yield is 4.41% (1.1% increase), 2 - year US Treasury yield is 3.96% (1.5% increase), etc. [7] - **Inventory and Positions**: Shanghai Futures Exchange gold inventory is 18177 kg (1.85% increase), COMEX silver inventory is 498460011 (0.05% increase), etc. [7] Group 4: Container Shipping Industry Spot - Futures Daily Report Core View - Displays spot quotes, index changes, futures prices, basis, and fundamental data of the container shipping industry [11][12] Summary by Directory - **Spot Quotes**: Shanghai - Europe future 6 - week freight rates for MAERSK is 2796 dollars/FEU (- 2.03% decrease), CMA is 3857 dollars/FEU (1.88% increase), etc. [12] - **Index Changes**: SCFIS (European route) is 1622.81 points (29.53% increase), SCFI comprehensive index is 2088.24 (- 6.79% decrease) [11] - **Futures Prices and Basis**: EC2602 is 1472.8 (2.07% increase), EC2508 (main contract) is 2068.0 (4.20% increase), basis (main contract) is - 315.1 (374.1 change, - 54.28% change) [11] - **Fundamental Data**: Global container shipping capacity supply is 3247.12 million TEU (0.00% change), Shanghai port on - time rate is 42.50 (46.45% increase), etc. [11] Group 5: Trading Calendar Core View - Lists overseas and domestic data and information sources and corresponding economic indicators or financial events [13] Summary by Directory - **Overseas Data/Info**: In the agricultural product sector, includes Brazil Secex weekly report, USDA crop growth and export inspection in the US, NOPA soybean crushing [13] - **Domestic Data/Info**: For macro data, includes 70 - city housing price report, national economic operation press conference, etc.; for different commodities like iron ore, black and non - ferrous metals, energy chemicals, etc., specific data such as shipments, inventories are provided [13]