日本央行副行长内田真一：将在经济展望报告中反映贸易协议。 ...

据日本时事通讯社：日本经济团体联合会会长表示，贸易协议是经过坚持不懈的谈判而达成的，谈判过 程中考虑了日本的国家利益，但美国关税对日本经济的影响不会很小，需要采取适当的经济措施。 ...

Group 1: Core Agreement Points - The trade agreement between Indonesia and the United States reduces tariff rates from 32% to 19%, marking significant progress in trade negotiations under the Trump administration [1] - Indonesia commits to eliminating over 99% of tariff barriers on U.S. goods and all non-tariff trade measures, facilitating unprecedented access for U.S. products in the Indonesian market [3] - The agreement is expected to create at least $50 billion in new market access opportunities for U.S. goods [3] Group 2: Specific Commitments and Industry Impact - Indonesia agrees to purchase $15 billion worth of U.S. energy products, indicating a significant reliance on U.S. energy supplies [4] - In the agricultural sector, Indonesia commits to buying $4.5 billion of U.S. agricultural products, including major crops like wheat and soybeans [4] - The agreement includes a commitment to purchase 50 Boeing aircraft, primarily of the 777 model, enhancing U.S. aerospace industry prospects [4] Group 3: Sectoral Reactions - The textile industry in Indonesia welcomes the reduced tariff rate of 19%, viewing it as a competitive advantage compared to higher tariffs faced by competitors like Vietnam and Bangladesh [4] - The steel industry faces challenges as U.S. steel tariffs drop from 10% to 0.5%, impacting pricing strategies for Chinese steel companies [4] - Fishermen express concerns over the increase in tariffs from 0% to 19%, fearing operational difficulties even with a 10% tariff [4]

Agreement Details - The steel and aluminum tariffs will remain unchanged at 50% [1] - The reciprocal tariff imposed by the US on Japan will be reduced from 25% to 15%, and the auto tariff will also be lowered to 15% [1] - Japan is expected to increase imports of US rice within the established minimum import quota [1] - Japan will invest $550 billion in the US, with the US expected to receive 90% of the profits [1] Market Reactions - Commonwealth Bank noted that the tariffs could put pressure on Japan's fiscal outlook, potentially affecting Japanese government bonds and the yen [1] - Citibank suggested that the trade agreement could pave the way for the Bank of Japan to raise interest rates earlier than currently anticipated [1] - Otus Consulting indicated that the agreement is a timely boost for Japanese Prime Minister Shigeru Ishiba and the Liberal Democratic Party, alleviating market concerns [1] - Mitsubishi UFJ stated that the agreement could support the yen's performance, but political uncertainties in Japan may dampen investor sentiment [1] - OCBC Bank highlighted that the yen still faces political risks and potential changes in Japan's credit rating following the trade agreement [1] Additional Insights - ANZ mentioned that the yen is unlikely to see sustained significant gains from the trade agreement, as tariffs pose a negative growth constraint on the Japanese economy [2] - Saxo Bank characterized the $550 billion investment as a political show, while the reduction of tariffs from 25% to 15% is meaningful and may boost sentiment in Japan's export-driven sectors [2] - Sony Financial Group described the trade agreement as mixed news for the Japanese stock market, noting that while the 15% tariff is manageable, the $550 billion investment could lead to capital outflows [2] - SBI Shinsei Bank indicated that the 15% tariff rate is within the Bank of Japan's expectations, and if corporate earnings perform well from April to June, a rate hike could occur as early as October [2] - Sumitomo Mitsui stated that the agreement is positive for the Japanese economy, but the impact of political instability is more significant, suggesting continued pressure on the yen [2] - TD Securities noted that while the market views the agreement as an unexpected positive, Trump's demand for Japan to open its agricultural market poses a potential risk that could further destabilize Japan's already fragile political situation [2]

日本10年国债收益率 金十数据7月23日讯，美日贸易协议打破数月僵局，日经指数在汽车股带动下飙升至一年高点，国债市 场则遭遇抛售。日经225指数盘中暴涨3.3%至41,070.91点，创去年7月以来新高。东证运输设备指数飙 升10.3%，其中丰田汽车涨幅超13%。贸易协议的达成降低了经济不确定性，强化了日本央行重启加息 的理由。交易员大举抛售日本国债，2年期日本国债收益率攀升7个基点至0.82%，创下自4月2日特朗普 宣布"解放日"高关税冲击市场以来最高水平。10年期日本国债收益率暴涨9.5个基点至1.595%，追平上 周创下的17年高位。 美日达成贸易协议提振日股冲高 日债承压下行 ...

日本传出重磅消息！ 据7月23日最新消息，日本首相石破茂将在8月结束前正式表明辞职意向。该消息传出后，日本股市涨幅扩大， 截至券商中国记者发稿，日经225指数涨超3%。 石破茂将表明辞职意向 据央视新闻报道，当地时间7月23日，总台记者获悉，日本首相石破茂称，将在8月结束前正式表明辞职意向。 石破茂向周围人士透露，自民党将于8月汇总参议院选举情况相关报告，他本人计划在8月结束前宣布辞职，已 基本确定该意向 。 日本自民党和公明党组成的执政联盟20日在日本第27届参议院选举中落败后，石破茂内阁的支持率跌至新低， 自民党内开始出现要求首相、自民党总裁石破茂辞职的呼声。 此前，在7月20日举行的日本第27届参议院选举中，由自民党和公明党组成的执政联盟丧失参议院过半数议 席。这是自1955年以来，自民党作为执政党首次在国会众参两院都未能取得过半数席位。 特朗普在其社交平台"真实社交"上发文称，美国刚刚与日本达成了一项"巨大的"协议，可能是有史以来最大的 一项。他表示，按照其指示，日本将向美国投资5500亿美元，美国将获得其中90%的利润。这项协议将创造数 十万个就业岗位。特朗普还称，或许最重要的是，日本将开放其市场进 ...

Core Viewpoint - The recent preliminary trade agreement between the US and Japan has surprised investors positively, providing a boost to the Japanese market amidst political uncertainty and acting as a catalyst for global risk assets [1][2]. Trade Agreement Details - The US has set tariffs on Japanese goods at 15%, significantly lower than the previously threatened 25%, which is expected to alleviate potential risks to global supply chains and reduce pressure on corporate earnings [1][2]. - The agreement includes a commitment from Japan to open its market further to US products, including automobiles and agricultural goods, alongside a promise of $550 billion in investments [2][4]. Market Reactions - Analysts predict a bullish sentiment in Japanese and Asian stock markets due to the unexpected favorable outcome of the trade agreement, which is seen as a positive shift in risk sentiment globally [3][5]. - The automotive sector is expected to benefit significantly, as the reduced tariff rate from 25% to 15% alleviates previous negative impacts on profitability [5][6]. Political Implications - The agreement comes at a time when Japanese Prime Minister Shinzo Abe is facing pressure to resign following a poor performance in the recent Senate elections, raising questions about his leadership [2][4]. - The trade deal is viewed as a potential lifeline for Abe, providing a positive narrative amidst political challenges [4][5]. Economic Outlook - The reduction in tariffs is anticipated to improve Japan's economic outlook, although concerns remain regarding the long-term implications of increased government spending and potential capital outflows due to the investment commitments [5][6]. - The bond market may experience upward pressure on yields due to heightened volatility and concerns over Japan's fiscal health, despite the immediate positive sentiment from the trade agreement [3][5].

日本经济再生大臣赤泽亮正：最新的贸易协议未包含任何关于国防预算的内容。 ...

Group 1 - The core viewpoint of the news is that the United States and Japan have reached a significant trade agreement, with Japan making substantial concessions to the U.S. [1][3] - U.S. President Trump announced that the tariff rate on Japan will decrease from 25% to 15%, and Japan is expected to invest $550 billion in the U.S., with the U.S. receiving 90% of the profits from this investment [3] - The agreement is projected to create hundreds of thousands of jobs in the U.S. and will open up trade in various sectors, including automobiles, rice, and other agricultural products [3] Group 2 - Japanese Economic Revitalization Minister Akira Amari expressed gratitude for the negotiation efforts and celebrated the completion of the task, although some Japanese citizens expressed dissatisfaction with the perceived concessions made by their government [1][4] - There is a sentiment among some Japanese netizens that the agreement represents a one-sided concession, questioning the success of the negotiations and suggesting that it might have been better to maintain the original 25% tariff [4]

Report Overview - Report Date: July 23, 2025 [1] - Report Title: "Soybean Meal: Market sentiment is strong, and the market fluctuates strongly; Soybean No.1: Technically fluctuates strongly" [1] - Analyst: Wu Guangjing [1] Industry Investment Rating - Not provided in the report Core Viewpoints - The market sentiment of soybean meal is strong, and the market fluctuates strongly; the technical aspect of soybean No.1 fluctuates strongly [1] - The core factors affecting soybean prices in the near term are Sino-US trade dynamics and weather conditions [3] Summary by Directory 1. Fundamental Tracking Futures - DCE Soybean No.1 2509: The daytime closing price was 4,232 yuan/ton, up 56 yuan (+1.34%); the night session closing price was 4,241 yuan/ton, up 28 yuan (+0.66%) [1] - DCE Soybean Meal 2509: The daytime closing price was 3,086 yuan/ton, up 27 yuan (+0.88%); the night session closing price was 3,092 yuan/ton, up 16 yuan (+0.52%) [1] - CBOT Soybean 11: The price was 1,026 cents/bushel, down 0.75 cents (-0.07%) [1] - CBOT Soybean Meal 12: The price was 286.9 dollars/short ton, up 2 dollars (+0.70%) [1] Spot - Shandong: The price of soybean meal (43%) was 2,930 - 2,950 yuan/ton, M2509 + 0/+30, basically flat to up 20 yuan compared to the previous day [1] - East China: The price of soybean meal in Taizhou Huifu was 2,910 yuan/ton, up 10 yuan compared to the previous day [1] - South China: The price of soybean meal was 2,930 - 2,970 yuan/ton, M2601 + 90, down 20 yuan to up 20 yuan compared to the previous day [1] Main Industry Data - Trading volume: The trading volume of soybean meal was 12.15 million tons/day, compared with 14.95 million tons/day two days ago [1] - Inventory: The inventory of soybean meal was 90.83 million tons/week, compared with 84.29 million tons/week two days ago [1] 2. Macro and Industry News - On July 22, CBOT soybean futures closed lower. The good weather in the US Midwest boosted the crop yield outlook, putting pressure on prices [3] - Sino-US trade negotiations are about to resume, which improves market sentiment and provides support [3] - The US Treasury Secretary announced that he will meet with the Chinese Finance Minister in Stockholm next week to discuss the possibility of reaching a trade agreement before August 12 to avoid the implementation of high tariffs [3] - The market is also waiting to see if the US will implement the tariff deadline for global trading partners on August 1 [3] 3. Trend Intensity - The trend intensity of soybean meal is +1; the trend intensity of soybean No.1 is +1 (only referring to the price fluctuation of the main contract in the daytime session on the report day) [3]