Group 1 - The actual controller of Lafang Jiahua, Ms. Wu Binhua, holds 20,545,083 shares, accounting for 9.12% of the company's total share capital [1] - The number of shares for which the repurchase has been postponed is 9,000,000, with the original repurchase date set for February 5, 2026, now extended to February 5, 2027 [1] - After the postponement, Ms. Wu has pledged a total of 9 million shares, which represents 43.81% of her total holdings in the company and 4% of the company's total share capital [1]

每经AI快讯，赣锋锂业2月4日晚间发布公告称，李良彬先生及其一致行动人累计质押股数为8207万 股，占其持有股份比例为20.18%，占公司总股本比例为3.91%。 （记者 王瀚黎） 每经头条（nbdtoutiao）——特朗普的"完美人选"颠覆美联储？解码凯文·沃什的"新政构想"：左手放水 右手抽水，要靠AI驯服通胀，拒做美债"大买家" ...

每经头条（nbdtoutiao）——特朗普的"完美人选"颠覆美联储？解码凯文·沃什的"新政构想"：左手放水 右手抽水，要靠AI驯服通胀，拒做美债"大买家" （记者 张明双） 每经AI快讯，吉宏股份2月4日晚间发布公告称，截至本公告日，庄浩累计质押股数为2200万股，占其 所持股份比例为33.08%。庄澍累计质押股数为1120万股，占其所持股份比例为33.6%。 ...

Group 1 - The company, Xuanji Information, announced that its 11th meeting of the 6th board of directors was held on February 4, 2026, via telecommunication voting [1] - The meeting reviewed documents including a proposal to amend the company's articles of association [1] Group 2 - The article discusses Kevin Warsh's new policy ideas, which suggest a dual approach of monetary easing and tightening to manage inflation [1] - Warsh emphasizes the use of AI to control inflation and expresses reluctance to become a major buyer of U.S. Treasury bonds [1]

Core Viewpoint - The report from CITIC Securities indicates that the policies of the Trump administration will significantly impact global markets this year [1] Group 1: Economic Impact - CITIC Securities believes one of the core goals of the Trump administration is to lower long-term interest rates through changes in Federal Reserve personnel and various initiatives, which would boost the traditional economy and assist in midterm elections [1] - If successful, this could positively influence global stock markets and commodities [1] Group 2: Foreign Policy and Asset Impact - The administration's foreign policy actions are primarily focused on domestic issues and voter demands, which may only have a transient impact on major asset classes [1] - The extent of the fiscal deficit expansion remains uncertain, which could benefit gold and non-ferrous metals [1] Group 3: Midterm Elections - The results of the midterm elections are deemed very important; despite Trump's efforts to gain an advantage, a Republican loss could negatively impact risk assets, excluding U.S. Treasuries, in the short term [1]

一夜之间，全崩了 昨天白天的时候，看到白银和黄金在大跌，想想昨夜跌跌就差不多了，结果一觉醒来完全颠覆了认知，现货白银期货大跌了36%，应该是历史以来的最大单 日跌幅，现货黄金也大跌12%，盘中击穿了4700美元，也是最近40年以来的最大跌幅。 从白银期货层面而言，昨晚的波动真的是堪称史诗级，盘中最高为114美元，最低为74美元，也就是说最大跌幅达到了35%，我看了一下昨天一天的跌幅把1 月份的涨幅全部跌没了，这就是说此前经历了白银加速上涨的群体，如果还没有卖出，相当于是一场空欢喜。 再看纽约黄金期货也是相当的惨烈，昨天盘中高点5400美元，最低点到了4700美元，昨夜的最大跌幅达到了12%，这波黄金的加速走势是从1月19日开始， 大概是4600美元，也就是说黄金加速上涨这段看起来很美，如果你现在还持有的话，也是一场空欢喜。 原因解读： 每次出现这种事件的时候，总是有各种各样的解读，在我看来美联储提名的负责人仅仅是导火索，大家觉得这可不是一个简单的鹰派，也未必会大幅度降 息，并且有收紧流动性的可能，这点从昨天美元指数的反弹就可以看出，如此对贵金属当然是利空了。 实际上这个解读看起来逻辑很顺，实际道理并不是那么明 ...

（文章来源：每日经济新闻） 每经AI快讯，1月30日，美债维持跌势，10年期收益率上涨2个基点至4.25%。 ...

Core Viewpoint - The U.S. Treasury yields experienced a decline on January 26, with the 10-year yield falling to 4.2094%, indicating a downward trend in bond market sentiment [1] Group 1: Treasury Yields - The 10-year Treasury yield decreased by 1.58 basis points, closing at 4.2094% after spending most of the day in a downward trajectory [1] - The 2-year Treasury yield fell by 0.40 basis points to 3.59% [1] - The 30-year Treasury yield dropped by 2.54 basis points, ending at 4.8020% [1] Group 2: Yield Spreads - The yield spread between the 2-year and 10-year Treasury yields decreased by 0.987 basis points, now at +61.923 basis points [1] Group 3: TIPS Yields - The 10-year Treasury Inflation-Protected Securities (TIPS) yield fell by 1.99 basis points to 1.8914% [1] - The 2-year TIPS yield decreased by 1.02 basis points to 0.9203% [1] - The 30-year TIPS yield declined by 2.27 basis points, closing at 2.5403% [1]

Core Viewpoint - The article discusses a significant market event where major investors are liquidating their positions in U.S. Treasury bonds, indicating a potential shift in investment strategies and market dynamics [2] Group 1: Market Reaction - Major investors, referred to as "巨佬," have announced their decision to completely divest from U.S. Treasury bonds, signaling a potential crisis in the bond market [2] - This mass liquidation could lead to increased volatility in the financial markets, as the demand for U.S. Treasuries may decline sharply [2] Group 2: Implications for Investment Strategies - The article suggests that the current trend of selling U.S. Treasuries may prompt investors to seek alternative assets, potentially leading to a reallocation of capital towards equities or other investment vehicles [2] - The shift away from U.S. Treasuries could also impact interest rates, as a decrease in demand may lead to higher yields [2]

1. Report Industry Investment Rating - The report does not provide a specific industry investment rating [1][3] 2. Core Viewpoints of the Report - The central bank indicates there is still room for reserve requirement ratio cuts and interest rate cuts. The pre - released policies are mainly "broad - credit" in effect, and the exchange rate does not strongly constrain interest rate cuts. The large - scale maturity and repricing of long - term deposits in 2026 will help stabilize the net interest margin [3] - Deposit repricing supports the space for interest rate cuts, but the bond market also needs to pay attention to the diversion effect of the stock market on matured deposits. The proportion of non - bank deposits may reach a new high, which is related to the form and rhythm of the stock market [3] - The year - on - year increase in the US core CPI in December last year was the same as the previous month. The risk of re - inflation is temporarily limited, and the impact of the US tax - cut policy on inflation remains to be observed [3] - Powell is facing a criminal investigation. The decision of the grand jury may be the key variable affecting the uncertainty of the Fed's subsequent decision - making process and the volatility of US Treasury bonds [3] - Geopolitical risks have caused oil price fluctuations. There are also changes in the prices and indicators of various domestic products such as agricultural products, industrial products, and metals [3] 3. Summary by Relevant Catalogs 3.1 High - frequency Data Scan - The repricing of time deposits supports the space for interest rate cuts. In 2025, with a 10BP cut in the LPR, the bank's net interest margin remained stable, and this effect should be further enhanced in 2026. However, the bond market needs to pay attention to the impact of the stock market on the diversion of matured deposits [3] - The year - on - year increase in the US core CPI in December last year was flat compared to the previous month. The risk of re - inflation is temporarily limited, and the impact of the US tax - cut policy on inflation remains to be seen. Powell's criminal investigation may affect the volatility of US Treasury bonds [3] - In the week of January 16, 2026, the average wholesale price of pork increased by 0.45% week - on - week and decreased by 20.75% year - on - year; the average wholesale price of 28 key - monitored vegetables decreased by 1.44% week - on - week and increased by 6.49% year - on - year. There were also changes in the prices and indicators of other products such as cement, iron ore, and crude oil [3] 3.2 High - frequency Data Panoramic Scan - The report presents data on the growth rate of time and other deposits, the relationship between LPR and bank net interest margin, and the proportion of non - bank deposits, as well as data on the ratio of US currency in circulation to GDP and personal consumption, and the relationship between US non - farm weekly wages and core CPI [11][16] - It also shows the week - on - week and year - on - year changes in various high - frequency indicators, including food, other consumer goods, bulk commodities, energy, non - ferrous metals, ferrous metals, real estate, and shipping [21][22] 3.3 Comparison of High - frequency Data and Important Macroeconomic Indicators' Trends - The report provides multiple sets of charts to show the relationship between high - frequency indicators such as copper spot price, crude steel daily output, and various price indices, and important macroeconomic indicators such as industrial added value, PPI, CPI, and fixed - asset investment [24][29][32] 3.4 Important High - frequency Indicators in the US, Europe, and Japan - It includes charts showing the relationship between US weekly economic indicators and actual economic growth, the number of first - time unemployment claims and the unemployment rate, US same - store sales growth and PCE year - on - year, as well as the implied prospects of interest rate hikes or cuts by the US Federal Reserve, the Bank of Japan, and the European Central Bank in the derivatives market [94][102][105] 3.5 Seasonal Trends of High - frequency Data - The report shows the seasonal trends (in terms of month - on - month increases) of high - frequency indicators such as the commodity trading area in 30 large and medium - sized cities, LME copper spot settlement price, and crude steel daily output [108][110][114] 3.6 High - frequency Traffic Data in Beijing, Shanghai, Guangzhou, and Shenzhen - It presents the year - on - year changes in subway passenger volumes in Beijing, Shanghai, Guangzhou, and Shenzhen [157][162]