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广发期货《金融》日报-20250820
Guang Fa Qi Huo· 2025-08-20 05:04
Group 1: Stock Index Futures Spread Daily Report Core View - Presents the price spreads of stock index futures on August 20, 2025, including period - current spreads, inter - period spreads, and cross - variety ratios, along with their changes from the previous day and historical quantile information [1] Summary by Category - **Period - Current Spreads**: The F period - current spread is - 7.17, the H period - current spread is 2.98, the IC period - current spread is - 55.31, and the IM period - current spread is - 65.45 [1] - **Inter - period Spreads**: Different combinations of inter - period spreads for F, IH, IC, and IM are provided, showing various numerical values and changes [1] - **Cross - variety Ratios**: Ratios such as CSI 500/SSE 50, CSI 1000/CSI 300, and IC/IF are presented, with their current values, changes, and historical quantiles [1] Group 2: Bond Futures Basis and Spread Report Core View - Provides the basis, inter - period spreads, and cross - variety spreads of bond futures on August 19, 2025, along with their changes from the previous day and historical quantile information [2] Summary by Category - **Basis**: The TS basis is 1.2318, the TF basis is 1.1138, the T basis is 1.0701, and the TL basis is 1.1098 [2] - **Inter - period Spreads**: Different combinations of inter - period spreads for TS, TF, T, and TL are provided, showing various numerical values and changes [2] - **Cross - variety Spreads**: Spreads such as TS - TF, TS - T, and TF - TL are presented, with their current values, changes, and historical quantiles [2] Group 3: Precious Metals Spot - Futures Daily Report Core View - Presents the prices of domestic and foreign precious metals futures, spot prices, basis, ratios, interest rates, exchange rates, inventory, and positions on August 19, 2025, along with their changes from the previous day [4] Summary by Category - **Futures and Spot Prices**: Domestic and foreign gold and silver futures and spot prices show different degrees of decline [4] - **Basis**: The basis of different combinations of precious metals shows various numerical values and changes, with historical quantiles provided [4] - **Ratios**: Ratios such as COMEX gold/silver and SHFE gold/silver are presented, with their current values, changes, and percentage changes [4] - **Interest Rates and Exchange Rates**: The 10 - year US Treasury yield, 2 - year US Treasury yield, 10 - year TIPS Treasury yield, US dollar index, and offshore RMB exchange rate show different degrees of change [4] - **Inventory and Positions**: The inventory of precious metals on SHFE and COMEX and the positions of ETFs show different degrees of change [4] Group 4: Container Shipping Industry Spot - Futures Daily Report Core View - Presents the spot quotes, container shipping indexes, futures prices, basis, fundamental data of the container shipping industry on August 19, 2025, and relevant data for previous months, along with their changes and percentage changes [6] Summary by Category - **Spot Quotes**: The spot quotes of Shanghai - Europe shipping routes of different shipping companies show different degrees of rise and fall [6] - **Container Shipping Indexes**: The settlement price indexes of SCFIS and the Shanghai Export Container Freight Index show different degrees of rise and fall [6] - **Futures Prices and Basis**: The futures prices of different contracts of EC show different degrees of rise and fall, and the basis of the main contract declines [6] - **Fundamental Data**: The global container shipping capacity supply remains unchanged, and indicators such as port on - time rate, port call situation, monthly export amount, and overseas economic data show different degrees of change [6] Group 5: Overseas and Domestic Data/Information Report Core View - Lists the economic indicators and financial events of overseas and domestic markets on different dates and times, along with their data sources [8] Summary by Category - **Overseas Data/Information**: Includes the eurozone's CPI data and the US's API and EIA crude oil inventory data [8] - **Domestic Data/Information**: Covers the production and sales of double - coking coal, China's one - year loan prime rate, China's port commercial crude oil inventory, and other data [8]
《金融》日报-20250819
Guang Fa Qi Huo· 2025-08-19 03:00
1. Report Industry Investment Rating - There is no information about the industry investment rating in the provided reports. 2. Core Views - The reports mainly present the daily data of different futures, including price differences, closing prices, spot prices, and related economic indicators, aiming to help investors understand the market trends and price fluctuations of various futures [1][2][3][4][5]. 3. Summary by Relevant Catalogs 3.1 Stock Index Futures Spread Daily Report - **Price Differences**: The report provides the latest values, changes from the previous day, historical 1 - year percentiles, and all - time percentiles of stock index futures' term - to - spot spreads and inter - term spreads for different varieties such as IF, IH, IC, and IM [1]. - **Calculation Methods**: It explains the calculation methods of term - to - spot spreads, inter - term spreads, and cross - variety ratios [1]. 3.2 Treasury Bond Futures Spread Daily Report - **Price Differences**: Presents the latest values, changes from the previous trading day, and percentiles since listing of the basis, inter - term spreads, and cross - variety spreads of different treasury bond futures varieties (TS, TF, T, TL) [2]. - **Calculation Notes**: Provides notes on the calculation of basis, percentiles, and spreads [2]. 3.3 Precious Metals Spot - Futures Daily Report - **Prices**: Shows the closing prices of domestic and foreign futures, spot prices, basis, ratios, interest rates, exchange rates, inventory, and positions of precious metals (gold and silver) on different dates, along with their price changes and percentage changes [3]. 3.4 Container Shipping Industry Spot - Futures Daily Report - **Spot Quotes**: Lists the spot quotes of shipping companies on the Shanghai - Europe route and their price changes and percentage changes [4]. - **Indices**: Provides the settlement price indices of shipping routes and Shanghai export container freight rates, along with their price changes and percentage changes [4]. - **Futures and Basis**: Presents the futures prices, price changes, and basis of container shipping futures contracts [4]. - **Fundamentals**: Includes data on shipping capacity supply, port - related indicators, export amounts, and overseas economic indicators, along with their changes and percentage changes [4]. 3.5 Trading Calendar - **Data Sources**: Specifies the time, data sources, and economic indicators or financial events of overseas and domestic data and information [5]. 3.6 Fund Flow and Key Seats' Position Changes Daily Report - The content of this report is incomplete and cannot be effectively summarized.
硅铁:板块情绪偏弱,宽幅震荡,锰硅:板块情绪偏弱,宽幅震荡
Guo Tai Jun An Qi Huo· 2025-08-14 02:03
Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoint of the Report The manganese - silicon sector shows weak sentiment and wide - range fluctuations [1]. 3) Summary by Relevant Catalogs Fundamental Tracking - **Futures Data**: The closing prices of silicon iron 2509, 2510, manganese silicon 2509, and 2510 are 5794, 5778, 6074, and 6086 respectively, with changes of - 26, - 34, - 36, and - 38 compared to the previous trading day. Their trading volumes are 232,143, 72,155, 314,200, and 52,038, and the open interests are 88,820, 59,932, 193,064, and 49,237 [1]. - **Spot Data**: The prices of silicon iron FeSi75 - B in Inner Mongolia, silicon manganese FeMn65Si17 in Inner Mongolia, manganese ore Mn44 block, and semi - coke small materials in Shenmu are 5450 yuan/ton, 5800 yuan/ton, 40.3 yuan/ton - degree, and 620 yuan/ton respectively. The manganese ore price dropped by 0.2 yuan/ton - degree compared to the previous trading day [1]. - **Price Difference Data**: The silicon iron spot - futures price difference (spot - 09 futures) is - 344 yuan/ton, an increase of 26 yuan/ton; the manganese silicon spot - futures price difference (spot - 09 futures) is - 274 yuan/ton, an increase of 36 yuan/ton [1]. Trend Intensity - **Price Difference Data**: The price differences of silicon iron 2509 - 2601, manganese silicon 2509 - 2601, manganese silicon 2509 - silicon iron 2509, and manganese silicon 2601 - silicon iron 2601 are - 17022 yuan/ton, - 888 yuan/ton, 280 - 10 yuan/ton, and 1984 yuan/ton respectively [2]. - **Trend Strength Index**: The trend strength of silicon iron and manganese silicon is 0, indicating a neutral trend [3]. Macro and Industry News - **Product Price News**: On August 13, the prices of silicon iron 72 in different regions range from 5400 - 5600 yuan/ton, and 75 from 5750 - 5850 yuan/ton. The FOB prices of 72 and 75 silicon iron are 1030 - 1050 and 1100 - 1120 US dollars/ton respectively. The northern and southern quotes of silicon manganese 6517 are 5850 - 5950 and 5900 - 6000 yuan/ton respectively [2]. - **Procurement News**: Hebei Steel finalized the purchase price of 75B silicon iron in August at 6030 yuan/ton, a 430 - yuan/ton increase from July, with a quantity of 2835 tons, a 135 - ton increase from July [2].
豆粕、油脂日报-20250805
Guan Tong Qi Huo· 2025-08-05 03:18
Report Summary 1. Report Title - "Breeding Industry Chain Data Report - Soybean Meal, Oils and Fats" [1] 2. Report Date - August 5, 2025 [2] 3. Key Points of Soybean Meal - The current price of 43% protein soybean meal is 2,976 yuan/ton, a 1.99% increase from the previous value [2] - The current spot - futures price difference of soybean meal is - 48 yuan/ton, a 33.33% decrease from the previous value [2] - The output of 111 sample enterprises of soybean meal in pressing plants is 1.5476 million tons, a 0.19% increase from the previous value [2] - The daily trading volume of soybean meal in pressing plants is 182,900 tons, an 82.72% increase from the previous value [2] - The apparent consumption of 111 sample enterprises of soybean meal is 1.5484 million tons, a 3.43% increase from the previous value [2] - The inventory of 111 sample enterprises of soybean meal in pressing plants is 0.9163 million tons, a 0.09% decrease from the previous value [2] - The current basis of the main contract of soybean meal spot is - 32.29 yuan/ton, a 44.19% decrease from the previous value [2] 4. Key Points of Oils and Fats - The current inventory of palm oil in China is 582,200 tons, a 5.41% decrease from the previous value [7] - The current inventory of rapeseed oil in China is 661,500 tons, a 0.50% increase from the previous value [7] - The current inventory of soybean oil in pressing plants in China is 1.1174 million tons, a 2.69% increase from the previous value [7] - The current spot - futures price difference of palm oil in China is 22 yuan/ton, a 53.19% decrease from the previous value [7] - The current spot - futures price difference of rapeseed oil in China is 120 yuan/ton, unchanged from the previous value [7] - The current spot - futures price difference of soybean oil and palm oil in China is - 420 yuan/ton, a 42.31% decrease from the previous value [7] - The current basis of the main contract of palm oil spot is 58.33 yuan/ton, a 43.91% decrease from the previous value [7] - The current basis of the main contract of rapeseed oil spot is 141 yuan/ton, an 18.97% decrease from the previous value [7] - The current basis of the main contract of soybean oil spot is 103.37 yuan/ton, a 42.74% decrease from the previous value [7]
有色及贵金属周报合集-20250803
Guo Tai Jun An Qi Huo· 2025-08-03 13:04
1. Report Industry Investment Rating - Not provided in the document 2. Core Views of the Report - **Gold**: The price was supported by strong buying after a decline, with a rebound due to disappointing US non - farm payroll data. The short - term gold - silver ratio may be in a rebound channel, and the overall gold and silver market lacks a clear trend, mainly in a range - bound pattern [7]. - **Silver**: The upward space is basically saturated, showing a relatively weak trend this week [7]. - **Copper**: Global total inventory increased, with a significant increase in LME inventory. The copper price's driving logic will shift from inventory - structure logic to fundamental logic. Although there are uncertainties in the macro - environment, there is support at the bottom. Downstream buyers are more active at low prices, and LME copper price may be weak, which is favorable for the internal - external reverse arbitrage [90]. 3. Summary by Relevant Catalogs 3.1 Gold and Silver 3.1.1 Price and Market Performance - This week, London gold rose 0.1%, and London silver fell 5.8%. The gold - silver ratio rose from 86.3 to 92.5. The 10 - year TIPS fell to 1.9%, and the 10 - year nominal interest rate rose to 4.23% [7]. - Gold prices initially declined but were supported by buying. After the disappointing non - farm payroll data on Friday, gold prices rebounded significantly [7]. 3.1.2 Transaction - related Data - **Futures Prices and Changes**: Most gold and silver futures contracts showed price changes, with some gold contracts rising and silver contracts falling. For example, Comex gold 2510 rose 2.32%, while Comex silver 2510 fell 3.18% [9]. - **Futures Trading Volume and Open Interest**: The trading volume and open interest of gold and silver futures contracts changed. For example, the trading volume of沪银2510 decreased by 100,557 hands, and the open interest decreased by 85,634 hands [9]. - **Warehouse Receipts and Inventory**: COMEX gold inventory increased by 0.95 million ounces, and the registered warehouse receipt ratio fell to 54.7%. COMEX silver inventory increased by 6.34 million ounces to 506.66 million ounces, and the registered warehouse receipt ratio rose to 37.8% [42][44]. - **ETF Holdings**: The gold SPDR ETF inventory decreased by 4.01 tons, and the silver SLV ETF inventory decreased by 145.51 tons [54][56]. 3.1.3 Price Spreads - **Overseas Spot - Futures Spreads**: The London spot - COMEX gold主力 spread fell to - 53.36 dollars per ounce, and the COMEX gold continuous - COMEX gold主力 spread was - 55.9 dollars per ounce. The London spot - COMEX silver主力 spread converged to - 0.088 dollars per ounce, and the COMEX silver continuous - COMEX silver主力 spread was - 0.345 dollars per ounce [14][17]. - **Domestic Spot - Futures Spreads**: The gold spot - futures spread was - 3.54 yuan per gram, at the lower end of the historical range. The silver spot - futures spread was - 30 yuan per gram, at the upper end of the historical range [21][24]. - **Monthly Spreads**: The gold monthly spread was 6.9 yuan per gram, at the upper end of the historical range. The silver monthly spread was 72 yuan per kilogram, at the upper end of the historical range [28][33]. 3.2 Copper 3.2.1 Market and Fundamental Situation - **Inventory**: Global total inventory increased, with a significant increase in LME inventory. Domestic social inventory increased by 0.51 tons to 11.93 tons as of August 1, but the absolute inventory was at a relatively low level in the same period of history [90]. - **Supply**: The tight supply of copper concentrates has weakened, and the spot TC has rebounded marginally, but smelting is still in a large loss state. The refined - scrap copper price difference has narrowed, and the import of recycled copper is in a loss state, indicating a tight supply of recycled copper [90]. - **Demand**: Downstream and terminal enterprises increased raw material procurement at low prices. The copper spot premium expanded from 125 yuan per ton on July 25 to 175 yuan per ton on August 1 [90]. 3.2.2 Transaction - related Data - **Volatility**: The volatility of COMEX copper rebounded, while the volatility of copper in other markets declined [96]. - **Term Spreads**: The C - structure of Shanghai copper strengthened, and the LME copper spot discount was weak. The COMEX copper C - structure expanded [101]. - **Open Interest**: Shanghai copper open interest decreased by 27,900 hands to 482,600 hands, while the open interest of LME copper, international copper, and COMEX copper increased [102]. - **CFTC Non - commercial Long Net Positions**: The CFTC non - commercial long net positions decreased from 39,800 hands on July 22 to 37,300 hands on July 29 [108].
国泰君安期货金银周报-20250803
Guo Tai Jun An Qi Huo· 2025-08-03 08:48
1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints of the Report - This week, London gold rebounded by 0.1%, while London silver declined by 5.8%. The gold - silver ratio rose from 86.3 to 92.5. The 10 - year TIPS fell to 1.9%, and the 10 - year nominal interest rate rose to 4.23% [3]. - Gold prices initially faced downward pressure due to factors like tariff decisions and strong economic data but were supported by returning long - term funds. After the disappointing US non - farm payrolls data on Friday, gold prices rebounded significantly [3]. - In the short term, the gold - silver ratio may be in a rebound channel, but it's hard to predict a clear trend for gold and silver. Technical signals may be more effective than fundamental factors, and the prices generally remain in the previously predicted range - bound pattern [3]. 3. Summary by Relevant Catalogs 3.1 One - Week Market Review - **Price and Price Changes**: Most gold and silver futures and spot prices showed fluctuations. For example, Comex gold 2510 rose 2.32%, while Comex silver 2510 fell 3.18% [4]. - **Trading Volume and Open Interest Changes**: Trading volumes and open interests of different gold and silver contracts changed. For instance, the trading volume of沪银2510 decreased by 100,557 hands, and its open interest decreased by 85,634 hands [4]. - **Inventory Changes**: COMEX gold inventory increased by 0.95 million ounces, and its registered warrant ratio fell to 54.7%. COMEX silver inventory increased by 6.34 million ounces to 506.66 million ounces, and its registered warrant ratio rose to 37.8% [37][39]. - **Spread Changes**: Various spreads, including overseas and domestic spot - futures spreads, monthly spreads, and cross - market spreads, changed. For example, the London spot - COMEX gold主力spread fell to - 53.36 dollars per ounce [8][9]. 3.2 Transaction - related Aspects (Price, Spread, Inventory, Funds, and Open Interest) - **Overseas Spot - Futures Spreads**: This week, the London spot - COMEX gold主力spread fell to - 53.36 dollars per ounce, and the COMEX gold continuous - COMEX gold主力spread was - 55.9 dollars per ounce. The London spot - COMEX silver主力spread converged to - 0.088 dollars per ounce, and the COMEX silver continuous - COMEX silver主力spread was - 0.345 dollars per ounce [8][9][12]. - **Domestic Spot - Futures Spreads**: The gold spot - futures spread was - 3.54 yuan per gram, at the lower end of the historical range. The silver spot - futures spread was - 30 yuan per gram, at the upper end of the historical range [16][19]. - **Monthly Spreads**: The gold monthly spread was 6.9 yuan per gram, at the upper end of the historical range. The silver monthly spread was 72 yuan per kilogram, at the upper end of the historical range [23][28]. - **Cross - Month Positive Arbitrage Delivery Costs**: The report calculated the cross - month positive arbitrage delivery costs for gold and silver, including costs such as delivery fees, storage fees, and capital costs [31][32][33][34]. - **Deferred Fee Payment Directions**: This week, the gold exchange's deferred fee for gold and silver was mainly paid by longs to shorts, indicating strong delivery power [35]. - **Inventory and Open Interest - Inventory Ratios**: COMEX gold and silver inventories changed, and their registered warrant ratios also changed [37][39]. - **CFTC Non - commercial Positions**: This week, the non - commercial net long positions in COMEX gold and silver both declined slightly [44]. - **ETF Holdings**: This week, the gold SPDR ETF inventory decreased by 4.01 tons, and the silver SLV ETF inventory decreased by 145.51 tons [50][52]. - **Gold - Silver Ratio**: This week, the gold - silver ratio rose from 86 to 92.5 [55]. - **COMEX Gold Delivery Volume and Gold - Silver Lease Rates**: This week, the 1 - month gold lease rate was - 0.23%, and the 1 - month silver lease rate was 1.77% [57]. 3.3 Core Drivers of Gold - **Gold and Real Interest Rates**: This week, the correlation between gold and real interest rates recovered, and the 10 - year TIPS continued to decline [62]. - **Inflation and Retail Sales Performance**: Data on US PCE, core PCE, retail and food service sales were presented [67][68]. - **Non - farm Employment Performance**: Data on US non - farm employment, including new non - farm employment, unemployment claims, labor force participation rate, and unemployment rate, were provided [70][71][72]. - **Industrial Manufacturing Cycle and Financial Conditions**: Not detailed in the content - **Economic Surprise Index and Inflation Surprise Index**: Not detailed in the content - **Fed Rate - cut Probability**: The report showed the Fed rate - cut probabilities in different regions and at different times [80].
硅铁:板块情绪共振,偏强震荡
Guo Tai Jun An Qi Huo· 2025-07-30 01:53
Report Title - Manganese Silicon: Sector sentiment resonance, strong sideways movement [1] Core View - The manganese silicon market shows a pattern of strong sideways movement due to sector sentiment resonance [1] Fundamental Tracking Futures Data - Silicon iron 2509 closed at 6110, up 270, with a trading volume of 726,721 and an open interest of 197,081 - Silicon iron 2510 closed at 6092, up 260, with a trading volume of 62,472 and an open interest of 40,316 - Manganese silicon 2509 closed at 6212, up 184, with a trading volume of 1,009,206 and an open interest of 347,380 - Manganese silicon 2510 closed at 6218, up 186, with a trading volume of 43,829 and an open interest of 23,948 [1] Spot Data - The price of silicon iron FeSi75 - B in Inner Mongolia was 5550 yuan/ton, up 50 - The price of silicon manganese FeMn65Si17 in Inner Mongolia was 5800 yuan/ton, up 100 - The price of manganese ore Mn44 block was 40.0 yuan/ton - degree, up 0.5 - The price of semi - coke small material in Shenmu was 550 yuan/ton [1] Price Difference Data - The spot - 09 futures price difference of silicon iron was - 560 yuan/ton, down 220 - The spot - 09 futures price difference of manganese silicon was - 412 yuan/ton, down 84 - The near - far month price difference of silicon iron 2509 - 2601 was - 106 yuan/ton, up 2 - The near - far month price difference of manganese silicon 2509 - 2601 was - 74 yuan/ton, unchanged - The cross - variety price difference of manganese silicon 2509 - silicon iron 2509 was 102 yuan/ton, down 86 - The cross - variety price difference of manganese silicon 2601 - silicon iron 2601 was 70 yuan/ton, down 84 [1] Macro and Industry News Silicon Iron Price News - On July 29, the price of 72 silicon iron in Shaanxi was 5400 - 5600 (+100), in Ningxia 5600 - 5700 (+100), in Qinghai 5500 - 5600 (+100), in Gansu 5500 - 5600 (+100), and in Inner Mongolia 5600 - 5650 (+150) - The price of 75 silicon iron in Shaanxi was 5900 - 5950, in Ningxia 5800 - 5900, in Qinghai 5800 - 5850, in Gansu 5800 - 5850, and in Inner Mongolia 5800 - 5850 - The FOB price of 72 silicon iron was 1020 - 1040, and 75 was 1090 - 1110 (US dollars/ton, tax - included) [2] Silicon Manganese Price News - The northern quotation of 6517 silicon manganese was 5850 - 5950 (+150) yuan/ton; the southern quotation was 5900 - 6000 (+100) yuan/ton [2] Production and Procurement News - In July, there were 11 silicon iron enterprises in production in Inner Mongolia, with 75 ore - heating furnaces in production. The operating rate in July was 61.48%, up 1.64% from June, and the output was expected to be 14.64 tons, up 0.37 tons from June, with a capacity utilization of 60.2% - Yunnan Qujing Chenggang set the silicon iron procurement price at 5970 yuan/ton in cash, up 400 yuan/ton from the previous round, with a quantity of 400 tons - A steel mill in Shandong set the silicon manganese standard at 5990 yuan/ton, CIF and accepted, and temporarily procured 1500 tons - Yunnan Qujing Chenggang set the silicon manganese standard at 5880 yuan/ton, CIF and cash - included, up 140 yuan/ton, with a procurement volume of 1500 tons - A group in Fujian set the silicon manganese standard at 6150 yuan/ton in Hubei, up 100, with a procurement volume of 3000 tons; and 6150 yuan/ton in Jiangsu, up 100, with a procurement volume of 1000 tons [2][3] Trend Intensity - The trend intensity of silicon iron is 0, and that of manganese silicon is 0. The trend intensity ranges from - 2 to 2, with - 2 indicating the most bearish and 2 indicating the most bullish [4]
《金融》日报-20250725
Guang Fa Qi Huo· 2025-07-25 09:11
1. Report Industry Investment Rating - No information provided in the reports. 2. Core Views - The reports present data on various types of futures, including stock index futures, Treasury bond futures, precious metal futures, and container shipping futures, as well as related spot prices, spreads, and other indicators. They show the latest values, changes from the previous day, historical quantiles, and other information to help investors understand the market conditions of different futures products [1][2][4][6]. 3. Summary by Related Catalogs Stock Index Futures - **Price Spread Data**: The report provides detailed price spread data for IF, IH, IC, and IM stock index futures, including spot - futures spreads and inter - period spreads. For example, the IF spot - futures spread is - 7.84, with a change of 2.73 from the previous day, and the historical 1 - year quantile is 40.90% [1]. Treasury Bond Futures - **IRR and Basis**: Information on IRR, basis, and price spreads for TS, TF, T, and TL Treasury bond futures is given. For instance, the TS basis is 1.5781, with a change of 0.0115 from the previous day, and the historical quantile is 23.00% [2]. Precious Metal Futures - **Price and Spread**: It shows the closing prices of domestic and foreign precious metal futures, spot prices, and basis. For example, the AU2510 contract closed at 778.74 yuan/gram on July 24, down 1.79% from the previous day, and the gold TD - Shanghai gold main contract basis is - 3.64 [4]. Container Shipping Futures - **Spot and Futures Prices**: The report includes spot quotes for Shanghai - Europe container shipping, container shipping index data, futures prices, and basis. For example, the MAERSK spot price for Shanghai - Europe on July 25 is 3104 dollars/FEU, up 0.16% from the previous day, and the EC2602 futures contract price on July 24 is 1562.3, up 5.75% from the previous day [6]. Data and Information Calendar - **Domestic and Overseas Data**: It lists domestic and overseas economic data and events to be released, such as the US June durable goods orders monthly rate, and domestic 2000 billion yuan 1 - year MLF due on a certain day [9].
金融日报-20250722
Guang Fa Qi Huo· 2025-07-22 13:14
Group 1: Stock Index Futures Spread Daily Report Core Viewpoints - The report presents the latest values, changes from the previous day, 1 - year historical percentiles, and all - time percentiles of various stock index futures spreads and cross - variety ratios on July 22, 2025 [1]. Summary by Category - **Futures - Spot Spreads**: For example, the F futures - spot spread is - 20.81, down 4.06 from the previous day, with a 1 - year percentile of 30.70% and an all - time percentile of 21.70% [1]. - **Inter - delivery Spreads**: Such as the F inter - delivery spread, where the season - month minus the current - month is - 41.00, down 32.20, with a 1 - year percentile of 20.00% and an all - time percentile of 26.40% [1]. - **Cross - Variety Ratios**: For instance, the IC/IF ratio is 1.4898, up 0.0051, with a 1 - year percentile of 62.20% and an all - time percentile of 60.20% [1]. Group 2: Treasury Bond Futures Spread Daily Report Core Viewpoints - The report provides data on IRR, basis, inter - delivery spreads, and cross - variety spreads of treasury bond futures on July 22, 2025, including their changes and historical percentiles [2]. Summary by Category - **IRR**: The 15 - year IRR is 1.6099, down 0.0053 from the previous day, with a historical percentile of 24.90% [2]. - **Basis**: For example, the T basis is 1.5727, down 0.0409, with a historical percentile of 53.80% [2]. - **Inter - delivery Spreads**: Like the TS inter - delivery spread, the current - season minus the alternate - season is - 0.0080, with a historical percentile of 11.60% [2]. - **Cross - Variety Spreads**: Such as the TS - TF spread, which is - 3.5350 on July 22, 2025, up 0.0210, with a historical percentile of 8.10% [2]. Group 3: Precious Metals Futures - Spot Daily Report Core Viewpoints - The report shows the domestic and foreign futures closing prices, spot prices, basis, ratios, interest rates, exchange rates, inventory, and holdings of precious metals on July 22, 2025, along with their changes [4]. Summary by Category - **Futures Closing Prices**: The AU2510 contract closed at 781.70 yuan/gram on July 21, up 4.68 (0.60%) from July 18 [4]. - **Spot Prices**: The London gold price was 3396.67 dollars/ounce on July 21, up 47.01 (1.40%) from July 18 [4]. - **Basis**: The gold TD - Shanghai gold主力 basis is - 4.70, down 1.05, with a 1 - year percentile of 5.60% [4]. - **Ratios**: The COMEX gold/silver ratio is 86.91, down 0.42 (- 0.48%) [4]. - **Interest Rates and Exchange Rates**: The 10 - year US Treasury yield is 4.38%, down 0.06 (- 1.4%) [4]. - **Inventory and Holdings**: The SPRD gold ETF holding is 947 tons, up 3.44 (0.36%) [4]. Group 4: Container Shipping Industry Futures - Spot Daily Report Core Viewpoints - The report offers information on Shanghai - Europe future 6 - week freight rates, container shipping indices, futures prices, basis, and fundamental data on July 22, 2025 [7]. Summary by Category - **Freight Rates**: The CMA CGM's Shanghai - Europe future 6 - week freight rate is 4226 dollars/FEU on July 21, up 124 (3.78%) from July 20 [7]. - **Indices**: The SCFIS (European route) settlement price index is 2400.50 points on July 21, down 21.4 (- 0.89%) from July 14 [7]. - **Futures Prices and Basis**: The EC2602 contract closed at 1486.4 on July 21, down 8.7 (- 0.58%) from July 18, and the basis of the main contract is 956.5, down 22.1 (- 2.26%) [7]. - **Fundamental Data**: The global container shipping capacity supply is 3271.67 on July 22, unchanged from July 21 [7]. Group 5: Trading Calendar Core Viewpoints - The report lists overseas and domestic data and information release schedules on July 22, 2025, including various economic indicators and events [9]. Summary by Category - **Overseas Data**: Such as New Zealand's log exports [9]. - **Domestic Data**: For example, the inventory of manganese ore by variety and the throughput of manganese ore in Qinzhou Port for manganese - silicon [9].
《金融》日报-20250714
Guang Fa Qi Huo· 2025-07-14 09:46
1. Report Industry Investment Rating No information about the industry investment rating is provided in the reports. 2. Core Views There is no explicit core view presented in the reports. The reports mainly offer data on various financial products, including futures spreads, prices, and related economic indicators. 3. Summary by Related Catalogs 3.1 Stock Index Futures Spread Daily Report - **Price Spread Data**: Presents the latest values, historical 1 - year and full - history percentiles, and changes from the previous day for IF, IH, IC, and IM's term - current spreads, inter - term spreads, and cross - variety ratios [1]. - **Term - Current Spreads**: For example, the IF term - current spread is 16.62, with a historical 1 - year percentile of 28.60% and a full - history percentile of 20.70% [1]. - **Inter - Term Spreads**: Such as the next - month minus current - month spread of IF is - 14.60, with a historical 1 - year percentile of 26.20% [1]. - **Cross - Variety Ratios**: The ratio of CSI 500 to SSE 50 is 0.0161, with a historical 1 - year percentile of 65.90% [1]. 3.2 Treasury Bond Futures Spread Daily Report - **Price Spread Data**: Provides the latest values, changes from the previous trading day, and percentiles since listing for the basis, inter - term spreads, and cross - variety spreads of TS, TF, T, and TL [2]. - **Basis**: The TS basis on July 11, 2025, is 1.5774, with a change of - 0.0001 and a percentile since listing of 23.00% [2]. - **Inter - Term Spreads**: The current - quarter minus next - quarter spread of TS on July 11, 2025, is - 0.1020, with a change of 0.0080 and a percentile since listing of 10.30% [2]. - **Cross - Variety Spreads**: The TS - TF spread on July 11, 2025, is - 3.5790, with a change of - 0.0030 and a percentile since listing of 7.10% [2]. 3.3 Precious Metals Spot - Futures Daily Report - **Price and Spread Data**: Covers domestic and foreign futures closing prices, spot prices, basis, and ratios of precious metals (gold and silver) [6]. - **Futures Closing Prices**: The AU2510 contract closed at 773.56 yuan/g on July 11, 2025, up 0.26 yuan or 0.03% from the previous day [6]. - **Spot Prices**: London gold was at 3354.75 dollars/ounce on July 11, 2025, up 31.41 dollars or 0.95% [6]. - **Basis**: The gold TD - Shanghai gold main contract basis is - 4.26, with a change of - 0.18 and a historical 1 - year percentile of 9.20% [6]. - **Ratios**: The COMEX gold/silver ratio is 86.25, down 2.33 or - 2.63% from the previous day [6]. 3.4 Shipping Industry Spot - Futures Daily Report - **Price and Fundamental Data**: Includes spot quotes, container shipping indices, futures prices, basis, and fundamental data of the shipping industry [9]. - **Spot Quotes**: The Shanghai - Europe future 6 - week freight rate reference of MAERSK is 3027 dollars/FEU on July 14, 2025, unchanged from the previous day [9]. - **Container Shipping Indices**: The SCFIS (European route) settlement price index on June 30, 2025, is 2123.24, up 186.1 or 9.61% from June 23 [9]. - **Futures Prices**: The EC2602 contract closed at 1344.0 on July 11, 2025, down 21.7 or - 1.59% from the previous day [9]. - **Basis**: The basis of the main contract is 791.3, up 196.3 or 32.99% from the previous day [9]. - **Fundamental Data**: The global container shipping capacity supply on July 14, 2025, is 3270.28 million TEU, unchanged from the previous day [9]. 3.5 Trading Calendar - **Data and Information Schedule**: Lists overseas and domestic data sources, time, and economic indicators or financial events for different sectors [11]. - **Overseas Data**: In the agricultural products sector, the US provides USDA export inspection and crop growth data, and Brazil provides the secex weekly report [11]. - **Domestic Data**: For macro - data, China's June trade balance (in billions of yuan) is released at 0:00; in the energy - chemical sector, Shandong's local refinery crude oil arrivals (in million tons) are reported at 14:00 by Longzhong Information [11].