Group 1 - The G7 draft calls for Israel and Iran to ease tensions to avoid jeopardizing regional stability [1] - G7 leaders are committed to maintaining market stability, including the energy market [1]

Core Viewpoint - The President of the European Commission, Ursula von der Leyen, expressed a willingness to coordinate with like-minded partners to maintain market stability, particularly in the energy sector [1] Group 1 - Ursula von der Leyen held a meeting with U.S. President Trump on Saturday [1] - The focus of the discussions was on ensuring stability in the energy market [1] - The emphasis was placed on collaboration with partners who share similar goals [1]

Group 1 - The core viewpoint emphasizes the importance of maintaining market trust in Japan's commitment to long-term fiscal health to avoid undermining market stability [1]

Core Viewpoint - The Governor of the Bank of Japan, Kazuo Ueda, emphasized that stable exchange rate fluctuations reflecting fundamentals are crucial for market stability, and the policy is not aimed at manipulating the foreign exchange market [1] Group 1 - The importance of stable exchange rate movements in reflecting economic fundamentals for market stability [1] - The Bank of Japan's policy approach is not focused on foreign exchange market manipulation [1]

以色列央行：鉴于持续的战争，货币委员会的政策正着重于稳定市场和减少不确定性，同时维护价格稳 定并支持经济活动。 ...

Core Viewpoint - The Bank of Japan's policy board member, Asahi Noguchi, stated that while the central bank may need to take action to stabilize the market at times, it does not currently believe that such a situation is present [1] Group 1 - The Bank of Japan is monitoring market conditions closely and is prepared to act if necessary [1] - There is no immediate concern regarding market instability according to the current assessment by the Bank of Japan [1]

Group 1 - The Reserve Bank of Australia's Governor, Philip Lowe, has expressed vigilance regarding potential market crises and uncertainty about the market's ability to maintain stability [1]

Core Insights - Bloomberg is the first global index provider to include Chinese bonds in mainstream global indices, offering a unique perspective on the Chinese bond market [1] - The Bloomberg China Aggregate Index recorded a return of -0.26% in March, following a -0.69% return in the previous month, with a year-to-date return of -0.66% [3][5] - The 30-day volatility of the index has been on the rise during this period [3] Index Performance - The China Treasury and Policy Banks Index recorded a return of -0.27% in March, with a year-to-date return of -0.74% [3][5] - The performance of various maturity indices shows mixed results, with the 1-3 Year Index at -0.24% year-to-date and the 10+ Year Index at -1.40% [5] - The China USD Credit (Kungfu) Index has shown a positive year-to-date return of 2.84%, indicating strong performance in the offshore market [5] Market Trends - Despite inflation effects from tariffs, the Federal Reserve is expected to cut rates five times by the end of the year, indicating a shift in focus towards market stability and unemployment rates [12] - Onshore high liquidity indices and dim sum bond indices have significantly lower yields compared to offshore indices, suggesting cost-saving opportunities for companies refinancing their dollar debts [12] - In February, the Chinese bond market saw an inflow of 69.8 billion RMB across all bond types, reflecting positive investor sentiment [12]

｜2025年4月8日 星期二｜ NO.1 国泰君安：4月11日起A股证券简称变更为国泰海通 4月7日，国泰君安发布公告称，公司A股证券简称将由"国泰君安"变更为"国泰海通"，A股证券代 码"601211"保持不变，变更日期为2025年4月11日。此次变更系公司换股吸收合并海通证券股份有限公 司并募集配套资金暨关联交易事项获中国证监会批复后，拟更好地反映合并后公司的实际情况。 4月7日晚间，中泰证券公告称，中国证监会批复，同意公司向专业投资者公开发行面值总额不超过200 亿元公司债券的注册申请。 点评：中泰证券获批发行200亿元公司债券，此举将增强公司资本实力，有利于扩大业务规模，提升市 场竞争力。对于券商板块而言，这一消息可能促使市场对其资本运作能力给予更多关注，影响投资者对 该板块的整体评价。同时，此举对整体股市而言，反映出监管层对市场融资功能的积极支持，有利于提 升市场信心和稳定性。 点评：国泰君安更名为国泰海通，此举标志着两家券商的深度融合，有望提升公司整体竞争力。对于公 司股价而言，市场将关注合并后的协同效应及业务整合情况。同时，这一变更可能对券商板块产生示范 效应，推动行业整合趋势。整体来看，此次更 ...