Report Overview - The report is a daily update on global asset markets, including bond yields, exchange rates, stock indices, and futures trading data, released on August 8, 2025, by the macro team of the research center [2]. Global Asset Market Performance Bond Yields - **10 - year Treasury Yields**: Yields in major economies showed various changes. For example, the US 10 - year yield was 4.251 on August 7, 2025, with a latest change of 0.022, a one - week change of - 0.125, a one - month change of - 0.100, and a one - year change of 0.111. Yields in other countries also had different trends over different time periods [3]. - **2 - year Treasury Yields**: The US 2 - year yield was 3.720 on August 7, 2025. There were also changes in other countries' 2 - year yields, such as the UK, Germany, and Japan, over different time frames [3]. Exchange Rates - **Dollar vs. Emerging Economies Currencies**: The dollar's exchange rates against major emerging economies' currencies changed. For example, against the Brazilian real, it was 5.425 on August 7, 2025, with a latest change of - 0.72% and a one - year change of - 3.36% [3]. - **Renminbi**: The on - shore and off - shore RMB exchange rates were 7.181 on August 7, 2025, with different changes in the latest, one - week, one - month, and one - year periods [3]. Stock Indices - **Major Economies Indices**: Indices such as the S&P 500, Dow Jones, and Nasdaq had different performance. The S&P 500 closed at 6340.000 on August 7, 2025, with a latest change of - 0.08%, a one - week change of 0.01%, a one - month change of 0.95%, and a one - year change of 16.62% [3]. - **Other Indices**: Including Russian, Japanese, and Chinese indices, they also showed different trends over different time periods [3]. Credit Bond Indices - Different credit bond indices, such as US investment - grade, euro - zone investment - grade, and emerging economies' investment - grade credit bond indices, had positive changes in the latest, one - week, one - month, and one - year periods [3][4]. Futures Trading Data Stock Index Futures - **Index Performance**: A - shares closed at 3639.67 with a 0.16% change. Other indices like the CSI 300, SSE 50, ChiNext, and CSI 500 also had their respective closing prices and percentage changes [5]. - **Valuation**: PE (TTM) and its环比changes were provided for indices such as the CSI 300, SSE 50, and CSI 500, as well as the S&P 500 and German DAX [5]. - **Risk Premium**: The 1/PE - 10 - year interest rate and its环比changes were given for several indices [5]. - **Fund Flow**: The latest values and 5 - day average values of fund flows for A - shares, the main board, small and medium - sized enterprise board, ChiNext, and CSI 300 were presented [5]. - **Trading Volume**: The latest trading volumes and环比changes were shown for the Shanghai and Shenzhen stock markets, CSI 300, SSE 50, small - cap board, and ChiNext [5]. - **Main Contract Premium/Discount**: The basis and percentage changes were provided for IF, IH, and IC contracts [5]. Treasury Futures - Treasury futures T00, TF00, T01, and TF01 had their closing prices and percentage changes on August 7, 2025 [6]. - Money market rates such as R001, R007, and SHIBOR - 3M were reported, along with their daily changes in basis points [6].

Report Summary 1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints - Not provided in the content 3. Summary by Relevant Catalogs Global Asset Market Performance - **10 - Year Treasury Yields**: On August 6, 2025, yields varied across major economies. For example, the US was at 4.229%, the UK at 4.525%. There were different changes in the latest, weekly, monthly, and yearly terms. Japan's yield was 3.715% with a one - year change of - 0.686%, and Brazil's was 6.438% with a one - year change of 0.054% [3]. - **2 - Year Treasury Yields**: On August 6, 2025, the US 2 - year yield was 3.690%, the UK's was 3.816%. Changes also differed in short - term and long - term periods. For instance, the US had a one - year change of - 0.720% [3]. - **Exchange Rates**: The US dollar against major emerging economies' currencies showed various changes. Against the Brazilian real, it had a one - year change of - 2.70%, and against the South African rand, it was - 3.69% [3]. - **Stock Indices**: Different indices had different closing prices and changes. The Dow Jones closed at 6345.060 on August 6, 2025, with a one - month change of 16.13%. The Russian index data was not provided, and the Hang Seng Index had a one - month change of 44.51% [3]. - **Credit Bond Indices**: On August 6, 2025, the emerging economies' investment - grade credit bond index was 3457.120, and the US high - yield credit bond index was 1717.511 [3]. Stock Index Futures Trading Data - **Index Performance**: The A - share index closed at 3633.99 with a 0.45% increase. The CSI 300 closed at 4113.49 with a 0.24% increase [5]. - **Valuation**: The PE(TTM) of the CSI 300 was 13.32, and the S&P 500 was 26.89 [5]. - **Risk Premium**: The risk premium of the S&P 500 (1/PE - 10 - year rate) was - 0.51 with a - 0.04% change [5]. - **Fund Flows**: The latest A - share fund flow was 139.51, and the CSI 300 was 3.78 [5]. - **Trading Volume**: The latest trading volume of the Shanghai and Shenzhen stock markets was 17340.68, and the CSI 300 was 3076.75 [5]. - **Basis and Spread**: The basis of IF was - 16.49 with a - 0.40% spread [5]. Treasury Futures Trading Data - **Treasury Futures**: The T00 closed at 108.555 with a 0.06% increase, and the TF00 closed at 105.775 with a 0.04% increase [6]. - **Funding Rates**: R001 was 1.3482% with a - 12.00 BP daily change, and R007 was 1.4732% with no daily change [6].

| 乖 亦安期货 | | --- | 大类资产早报 研究中心宏观团队 2025/08/06 | | 全 球 资 产 市 场 表 现 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 主要经济体10年期国债收益率 | | | | | | | | | | | 美国 | 英国 | 法国 | 德国 | 意大利 | 西班牙 | 瑞士 | 希腊 | | 2025/08/05 | 4.212 | 4.515 | 3.284 | 2.622 | 3.425 | 3.201 | 0.272 | 3.269 | | 最新变化 | 0.018 | 0.007 | 0.001 | -0.001 | -0.001 | 0.002 | -0.005 | -0.004 | | 一周变化 | -0.109 | -0.117 | -0.079 | -0.085 | -0.092 | -0.086 | -0.075 | -0.093 | | 一月变化 | -0.189 | -0.117 | -0.080 | -0.064 | -0.111 | -0 ...

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints No clear core viewpoints are presented in the given content. It mainly provides data on various global asset markets, stock index futures trading, and treasury bond futures trading. 3. Summary by Related Catalogs Global Asset Market Performance - **10 - Year Treasury Bond Yields**: On August 4, 2025, the 10 - year treasury bond yields of major economies varied. For example, the US was 4.218%, and Japan was 3.676%. There were different changes over different time periods, such as a one - week change of - 0.194% in the US and - 0.252% in Japan [1]. - **2 - Year Treasury Bond Yields**: The 2 - year treasury bond yields also showed differences among countries. On August 4, 2025, the US was 3.940%, and Japan was 0.756%. Changes in different time intervals were also provided, like a one - year change of - 0.460% in the US and 0.375% in Japan [1]. - **Exchange Rates**: The US dollar exchange rates against major emerging economies' currencies had different trends. For example, against the Brazilian real, it was 5.499 on August 4, 2025, with a one - year change of - 2.58%. The exchange rates of the on - shore and off - shore RMB also had their own changes, such as a one - year change of - 0.91% for on - shore RMB [1]. - **Stock Indices**: Major economies' stock indices had different closing prices and changes. On August 4, 2025, the S&P 500 was 6329.940, with a one - year change of 17.24%. The Hang Seng Index was 24733.450, with a one - year change of 45.45% [1]. - **Credit Bond Indices**: Different credit bond indices, including US and euro - zone investment - grade and high - yield credit bond indices, had different changes over different time periods. For example, the US investment - grade credit bond index had a one - year change of 6.52% [1]. Stock Index Futures Trading Data - **Index Performance**: The closing prices and percentage changes of A - shares, CSI 300, SSE 50, ChiNext, and CSI 500 were provided. For example, the closing price of A - shares was 3583.31, with a 0.66% increase [2]. - **Valuation**: The PE (TTM) and its环比 changes of CSI 300, SSE 50, CSI 500, S&P 500, and German DAX were given. For example, the PE (TTM) of CSI 300 was 13.11, with a环比 change of - 0.01 [2]. - **Risk Premium**: The risk premium and its环比 changes of several indices were presented. For example, the risk premium of CSI 300 was 3.70, with a环比 change of 0.00 [2]. - **Fund Flows**: The latest values and 5 - day average values of fund flows in different sectors of the A - share market were shown. For example, the latest value of A - share fund flow was - 522.29 [2]. - **Trading Volume**: The latest trading volumes and环比 changes of different indices were provided. For example, the latest trading volume of the two - market was 14985.50, with a环比 change of - 998.01 [2]. - **Main Contract Basis**: The basis and its amplitude of IF, IH, and IC were given. For example, the basis of IF was - 17.90, with an amplitude of - 0.44% [2]. Treasury Bond Futures Trading Data - The closing prices and percentage changes of T00, TF00, T01, and TF01 were all 0.00% on the relevant day. The R001, R007, and SHIBOR - 3M had their own values and daily changes, such as R001 being 1.3512% with a daily change of - 14.00 BP [3].

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - From July 28 to August 1, the U.S. July non - farm payrolls data was disappointing, and the data for May and June were significantly revised downwards. Trump signed an executive order to impose "reciprocal tariffs" ranging from 10% to 41% on multiple countries and regions, effective August 7. The dollar index rose weekly. Globally, stocks fell, and the bond and commodity markets were generally weak, with bonds > commodities > stocks in dollar - terms. In China, stocks and commodities declined, while the bond market rose, with commodities > stocks > bonds [3][6]. - The July non - farm payrolls data has raised concerns about the uncertainty of subsequent policies. It is necessary to continuously monitor the impact of major foreign policies on the market and keep an eye on the changes in the prices of major asset classes [3][27]. 3. Summary by Related Catalogs 3.1 Global Major Asset Overall Performance - **Global Stock Market Overview**: From July 28 to August 1, due to concerns triggered by non - farm payrolls data, major global stock markets generally declined. European stocks led the decline, and emerging markets were slightly more resilient than developed markets. The VIX index rose weekly. For example, MSCI Europe fell 4.12%, while emerging market stock indices fell 2.51% [8][13]. - **Global Bond Market Overview**: During the same period, the Fed's July FOMC meeting kept rates unchanged. After the non - farm payrolls data was released, the expectation of a rate cut increased. The yields of medium - and long - term U.S. Treasuries declined, with the 10 - year U.S. Treasury yield falling 17BP to 4.23%. Globally, credit bonds > government bonds > high - yield bonds [15]. - **Global Foreign Exchange Market Overview**: The preliminary value of the U.S. Q2 real GDP annualized quarterly growth rate exceeded expectations, causing the dollar index to rise 1.04% weekly. Most major non - dollar currencies depreciated against the dollar, and the RMB exchange rate declined slightly [16]. - **Global Commodity Market Overview**: Due to the risk of U.S. energy sanctions on Russia and Iran and the expectation of peak - season demand, international oil prices rose weekly, while most agricultural products and non - ferrous metals prices fell [17]. 3.2 Domestic Major Asset Performance - **Domestic Stock Market Overview**: From July 28 to August 1, after policy expectations were realized, major A - share broad - based indices generally declined, and the average daily trading volume of the two markets decreased compared to the previous week. The communication and pharmaceutical sectors led the gains, while non - ferrous metals and coal underperformed. The Shanghai Composite Index fell 0.94% [20]. - **Domestic Bond Market Overview**: During this period, the central bank's open - market operations had a net injection of 6.9 billion yuan, and the liquidity was generally stable. The bond market rose weekly, with government bonds > corporate bonds > credit bonds [22]. - **Domestic Commodity Market Overview**: The domestic commodity market declined weekly. Among major commodity sectors, oilseeds and oils rose, while the black - metal sector underperformed. The Nanhua Commodity Index fell 2.46% [24][25]. 3.3 Major Asset Price Outlook - The July non - farm payrolls data has led to market concerns about the uncertainty of subsequent policies. It is necessary to pay attention to the changes in major asset prices [27].

Report Overview - The report is the "Major Asset Morning Report" released by the macro team of the research center of Heyian Futures on August 1, 2025, presenting the performance of global asset markets [1]. Global Asset Market Performance Bond Yields - **10 - year Treasury Yields**: Yields of major economies showed different changes on July 31, 2025. For example, the US was at 4.376% with a latest change of 0.004%, a one - week change of - 0.022%, a one - month change of 0.028%, and a one - year change of 0.124%. Japan was at 3.958% with a latest change of 0.015%, a one - week change of 0.041%, a one - month change of 0.075%, and a one - year change of - 0.534% [2]. - **2 - year Treasury Yields**: The US 2 - year Treasury yield on July 31, 2025, was 3.860% with a latest change of - 0.050%, a one - week change of 0.030%, a one - month change of - 0.090%, and a one - year change of - 0.630%. Japan was at 0.817% with a latest change of - 0.006%, a one - week change of - 0.027%, a one - month change of 0.074%, and a one - year change of 0.471% [2]. Exchange Rates - **USD against Major Emerging Economies' Currencies**: On July 31, 2025, the exchange rate of USD against the Brazilian real was 5.600 with a latest change of 0.52%, a one - week change of 1.45%, a one - month change of 3.54%, and a one - year change of 0.26%. Against the South African rand, it was 18.218 with a latest change of 1.22%, a one - week change of 3.33%, a one - month change of 4.00%, and a one - year change of - 0.94% [2]. - **Renminbi**: The on - shore RMB was at 7.200 on July 31, 2025, with a latest change of 0.04%, a one - week change of 0.63%, a one - month change of 0.41%, and a one - year change of - 1.03%. The offshore RMB was at 7.209 with a latest change of - 0.03%, a one - week change of 0.78%, a one - month change of 0.54%, and a one - year change of - 1.10% [2]. Stock Indices - **Major Economies' Stock Indices**: On July 31, 2025, the S&P 500 was at 6339.390 with a latest change of - 0.37%, a one - week change of - 0.38%, a one - month change of 0.96%, and a one - year change of 14.11%. The German DAX was at 24065.470 with a latest change of - 0.81%, a one - week change of - 0.95%, a one - month change of 0.55%, and a one - year change of 29.68% [2]. - **Emerging Economies' Stock Indices**: The Malaysian stock index was at 1513.250 on July 31, 2025, with a latest change of - 0.74%, a one - week change of - 1.76%, a one - month change of - 2.31%, and a one - year change of - 7.14%. The Australian stock index was at 8999.022 with a latest change of - 0.18%, a one - week change of 0.22%, a one - month change of 1.87%, and a one - year change of 9.63% [2]. Credit Bond Indices - Credit bond indices of different regions and levels showed various changes. For example, the US investment - grade credit bond index had a latest change of 0.06%, a one - week change of 0.43%, a one - month change of 0.27%, and a one - year change of 5.64% [2][3]. Stock Index Futures Trading Data Index Performance - The closing price of A - shares was 3573.21 with a decline of 1.18%. The closing price of the CSI 300 was 4075.59 with a decline of 1.82% [4]. Valuation - The PE (TTM) of the CSI 300 was 13.19 with a环比 change of - 0.20. The PE (TTM) of the S&P 500 was 26.89 with a环比 change of - 0.10 [4]. Risk Premium - The risk premium of the S&P 500 (1/PE - 10 - year interest rate) was - 0.66 with a环比 change of 0.01. The risk premium of the German DAX was 2.16 with a环比 change of 0.05 [4]. Fund Flow - The latest value of the A - share fund flow was - 1635.89, and the 5 - day average was - 973.63 [4]. Trading Volume - The latest trading volume of the Shanghai and Shenzhen stock markets was 19360.35, with a环比 change of 917.56 [4]. Main Contract Premium/Discount - The basis of the IF contract was - 18.59, with a premium/discount rate of - 0.46% [4]. Treasury Futures Trading Data - The closing price of the T00 Treasury futures was 108.485 with a rise of 0.16%. The closing price of the TF00 was 105.725 with a rise of 0.08% [5]. - The R001 fund rate was 1.5634% with a daily change of - 5.00 BP. The R007 was 1.5806% with a daily change of - 3.00 BP [5].

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints - No clear core viewpoints are presented in the content. The report mainly provides data on the performance of various global asset markets. 3. Summary by Related Catalogs Global Asset Market Performance - **10 - year Treasury Yields of Major Economies**: - On July 30, 2025, yields in the US, UK, France, etc. were 4.372%, 4.603%, 3.358% respectively. Latest changes ranged from -0.029 to 0.073, weekly changes from -0.051 to 0.066, monthly changes from -0.057 to 0.157, and annual changes from -0.575 to 0.443 [3]. - **2 - year Treasury Yields of Major Economies**: - On July 30, 2025, yields in the US, UK, Germany, etc. were 3.910%, 3.873%, 1.951% respectively. Latest changes ranged from -0.017 to 0.020, weekly changes from -0.008 to 0.175, monthly changes from -0.054 to 0.127, and annual changes from -1.081 to 0.486 [3]. - **USD Exchange Rates Against Major Emerging - Market Currencies**: - On July 30, 2025, rates against the Brazilian real, South African rand, etc. were 5.571, 17.998, etc. Latest changes ranged from -0.06% to 0.61%, weekly changes from 0.13% to 2.68%, monthly changes from 0.11% to 2.70%, and annual changes from -9.45% to 0.14% [3]. - **Stock Indices of Major Economies**: - On July 30, 2025, the Dow Jones, S&P 500, etc. had values of 6362.900, 44461.280, etc. Latest changes ranged from -1.22% to 2.22%, weekly changes from -1.63% to 4.13%, monthly changes from 3.15% to 31.81%, and annual changes showed various trends [3]. Stock Index Futures Trading Data - **Index Performance**: - A - shares, CSI 300, SSE 50, ChiNext, and CSI 500 had closing prices of 3615.72, 4151.24, 2819.35, 2367.68, and 6314.69 respectively, with percentage changes of 0.17%, -0.02%, 0.38%, -1.62%, and -0.65% [5]. - **Valuation**: - PE (TTM) of CSI 300, SSE 50, and CSI 500 were 13.35, 11.40, and 30.97 respectively, with no环比 changes [5]. - **Fund Flows**: - Latest values of A - shares, main board, small - and medium - sized enterprise board, ChiNext, and CSI 300 were -1164.11, -709.25, -, -366.27, and -41.53 respectively [5]. - **Trading Volume**: - Latest values of Shanghai and Shenzhen stock markets, CSI 300, SSE 50, small - and medium - sized board, and ChiNext were 18442.79, 4451.68, 1125.97, 3578.93, and 4998.73 respectively, with环比 changes of 411.08, 164.04, 6.43, 11.72, and 76.38 [5]. - **Main Contract Premium/Discount**: - IF, IH, and IC had basis of -14.84, 0.65, and -99.29 respectively, with amplitudes of -0.36%, 0.02%, and -1.57% [5]. Treasury Bond Futures Trading Data - **Closing Prices and Percentage Changes**: - T00, TF00, T01, and TF01 had closing prices of 108.300, 105.630, 108.210, and 105.675 respectively, with percentage changes of -0.24%, -0.17%, -0.26%, and -0.17% [6]. - **Funding Rates**: - R001, R007, and SHIBOR - 3M were 1.3642%, 1.6113%, and 1.5640% respectively, with daily changes of -25.00, 0.00, and 0.00 BP [6].

Report Information - Report Title: Big Asset Morning Report - Report Date: July 30, 2025 - Report Team: Macro Team of the Research Center [1] Global Asset Market Performance 10 - Year Treasury Yields of Major Economies - Yields on July 29, 2025: The yields varied widely across countries, e.g., the US was 4.321%, the UK was 4.632%, and China was 1.747% [2] - Latest Changes: Yields in most countries had small changes, with the US down 0.091, while France, Germany, etc., had increases [2] - Weekly, Monthly, and Annual Changes: There were different trends. For example, the UK had a 0.064 increase in a week, 0.179 in a month, and 0.510 in a year [2] 2 - Year Treasury Yields of Major Economies - Yields on July 29, 2025: The US was 3.910%, the UK was 3.890%, etc. [2] - Latest Changes: The US had no change, while Germany increased by 0.023 [2] - Weekly, Monthly, and Annual Changes: Different trends were observed, e.g., the US had a 0.030 increase in a week, 0.010 in a month, and - 0.510 in a year [2] Dollar - to - Major Emerging Economies Currency Exchange Rates - Rates on July 29, 2025: Against the dollar, the Brazilian real was 5.575, the South African rand was 17.888, etc. [2] - Latest Changes: The Brazilian real decreased by 0.25%, while the South African rand increased by 0.06% [2] - Weekly, Monthly, and Annual Changes: Different trends were shown, e.g., the Brazilian real had a 0.17% increase in a week, 2.12% in a month, and - 0.41% in a year [2] Stock Indices of Major Economies - Closing Prices on July 29, 2025: The S&P 500 was 6370.860, the Dow Jones Industrial Average was 44632.990, etc. [2] - Latest Changes: The S&P 500 decreased by 0.30%, while the French CAC increased by 0.72% [2] - Weekly, Monthly, and Annual Changes: Different trends were present, e.g., the S&P 500 had a 0.97% increase in a week, 2.79% in a month, and 15.73% in a year [2] Credit Bond Indices - Latest Changes: The US investment - grade credit bond index increased by 0.53%, the emerging economies investment - grade credit bond index increased by 0.31%, etc. [2][3] - Weekly, Monthly, and Annual Changes: Different trends were seen, e.g., the US investment - grade credit bond index had a 0.41% increase in a week, 0.20% in a month, and 5.76% in a year [2][3] Stock Index Futures Trading Data Index Performance - Closing Prices: A - shares were 3609.71, the CSI 300 was 4152.02, etc. [4] - Price Changes (%): A - shares increased by 0.33%, the CSI 300 increased by 0.39%, etc. [4] Valuation - PE (TTM): The CSI 300 was 13.35, the S&P 500 was 27.03, etc. [4] -环比 Changes: The CSI 300 decreased by 0.17, the S&P 500 decreased by 0.08, etc. [4] Risk Premium - 1/PE - 10 - Year Interest Rate: The S&P 500 was - 0.62, the German DAX was 2.12 [4] -环比 Changes: The S&P 500 increased by 0.10, the German DAX decreased by 0.07 [4] Fund Flows - Latest Values: A - shares had a net outflow of 662.18, the main board had a net outflow of 680.95, etc. [4] - 5 - Day Average Values: A - shares had a net outflow of 521.14, the main board had a net outflow of 505.71, etc. [4] Trading Volume - Latest Values: The Shanghai and Shenzhen stock markets had a trading volume of 18031.71, the CSI 300 had a trading volume of 4287.64, etc. [4] -环比 Changes: The Shanghai and Shenzhen stock markets increased by 608.64, the CSI 300 increased by 219.71, etc. [4] Main Contract Premiums and Discounts - Basis: IF was - 10.62, IH was 5.41, IC was - 93.13 [4] - Premium/Discount Ratios: IF was - 0.26%, IH was 0.19%, IC was - 1.47% [4] Treasury Futures Trading Data Closing Prices - T00 was 108.130, TF00 was 105.545, T01 was 108.115, TF01 was 105.610 [5] Price Changes (%) - T00 increased by 0.20%, TF00 increased by 0.14%, T01 increased by 0.20%, TF01 increased by 0.16% [5] Money Market - The 3 - month SHIBOR was 1.5600%, with a daily change of 0.00 BP [5]

Report Information - Report Date: July 24, 2025 [2] - Report Title: Global Asset Market Performance and Related Trading Data Key Points of Global Asset Market Performance 10 - Year Treasury Yields of Major Economies - On July 23, 2025, yields in the US, UK, France, etc., were 4.383%, 4.634%, 3.299% respectively, with various changes in the latest, weekly, monthly, and yearly periods [3] 2 - Year Treasury Yields of Major Economies - On July 23, 2025, yields in the US, UK, Germany, etc., were 3.850%, 3.876%, 1.839% respectively, with different changes over different time - spans [3] Dollar Exchange Rates Against Major Emerging - Market Currencies - On July 23, 2025, the exchange rate of the dollar against the Brazilian real was 5.520, with a latest change of - 0.81%, and different changes in other time periods [3] Stock Indices of Major Economies - On July 23, 2025, the S&P 500 was at 6358.910, with a latest change of 0.78%, and different changes in weekly, monthly, and yearly periods. Other indices like the Dow Jones Industrial Average, Nasdaq, etc., also had their respective performances [3] Credit Bond Indices - The US investment - grade credit bond index, euro - zone investment - grade credit bond index, etc., had different changes in the latest, weekly, monthly, and yearly periods [3][4] Key Points of Stock Index Futures Trading Data Index Performance - The closing prices of A - shares, CSI 300, SSE 50, etc., were 3582.30, 4119.77, 2801.20 respectively, with corresponding percentage changes [5] Valuation - The PE (TTM) of CSI 300, SSE 50, and other indices were 13.53, 11.44, etc., with corresponding环比changes [5] Risk Premium - The risk premium of the S&P 500 was - 0.68, with a环比change of - 0.07, and the German DAX had its own values [5] Fund Flows - The latest values of fund flows in A - shares, the main board, etc., were - 1079.62, - 851.71, etc., with different 5 - day average values [5] Trading Volume - The latest trading volumes of the Shanghai and Shenzhen stock markets, CSI 300, etc., were 18646.00, 4703.31, etc., with corresponding环比changes [5] Main Contract Basis - The basis of IF, IH, IC were - 10.57, 1.60, - 76.76 respectively, with corresponding percentage changes [5] Key Points of Treasury Futures Trading Data Treasury Futures - The closing prices of T00, TF00, T01, TF01 were 108.520, 105.790, 108.600, 105.875 respectively, with corresponding percentage changes [6] Funding Rates - The R001, R007, SHIBOR - 3M were 1.4268%, 1.5017%, 1.5510% respectively, with corresponding daily changes in basis points [6]

Global Asset Market Performance 10 - Year Treasury Yields of Major Economies - On July 22, 2025, the 10 - year Treasury yields of the US, UK, France, etc. were 4.346, 4.569, 3.263 respectively. The latest changes were - 0.033, - 0.033, - 0.029; weekly changes were - 0.137, - 0.055, - 0.142; monthly changes were 0.050, 0.097, 0.013; and annual changes were 0.162, 0.461, 0.112 [3]. - For Asian and South American economies like Japan, Brazil, and China, on July 22, 2025, yields were 3.834, 6.558, 1.691. The latest changes were - 0.028, - 0.005, 0.014; weekly changes were - 0.108, - 0.043, 0.033; monthly changes were 0.008, 0.050, 0.043; and annual changes were - 0.618, 0.162, - 0.569 [3]. 2 - Year Treasury Yields of Major Economies - On July 22, 2025, the 2 - year Treasury yields of the US, UK, Germany were 3.880, 3.838, 1.808. The latest changes were - 0.030, - 0.027, - 0.013; weekly changes were - 0.020, 0.008, - 0.073; monthly changes were not available for the US, - 0.031, - 0.040; and annual changes were - 0.740, - 0.230, - 1.008 [3]. US Dollar Exchange Rates Against Major Emerging - Market Currencies - On July 22, 2025, the exchange rates against the Brazilian real, South African rand, South Korean won were 5.565, 17.558, 1380.900. The latest changes were - 0.04%, - 0.36%, - 0.13%; weekly changes were 0.15%, - 2.06%, - 0.48%; monthly changes were 0.98%, - 1.15%, 1.59%; and annual changes were 2.50%, - 2.21%, 0.40% [3]. RMB Exchange Rates - On July 22, 2025, the on - shore RMB, offshore RMB, and mid - price were 7.169, 7.171, 7.146. The latest changes were - 0.01%, 0.00%, - 0.09%; weekly changes were - 0.19%, - 0.19%, - 0.05%; and monthly changes were - 1.12%, - 1.39%, 0.20% [3]. Stock Indices of Major Economies - On July 22, 2025, the Dow Jones, S&P 500, and French CAC were 6309.620, 44502.440, 20892.690. The latest changes were 0.06%, 0.40%, - 0.39%; weekly changes were 1.05%, 1.09%, 1.04%; monthly changes were 12.36%, 11.25%, 13.56% [3]. - For Asian and other emerging - market indices like the Nikkei, Hang Seng Index, and Shanghai Composite Index, on July 22, 2025, they were 39774.920, 25130.030, 3581.861. The latest changes were 0.24%, 2.20%, 2.19%; weekly changes were 0.54%, 3.94%, 4.72%; and monthly changes were - 3.44%, 37.37%, 20.55% [3]. Credit Bond Indices - The latest changes of emerging - market investment - grade, high - yield, and US investment - grade credit bond indices were 0.17%, 0.11%, 0.09%. The weekly changes were 0.94%, 0.45%, 0.51%; monthly changes were 0.38%, 0.68%, 1.01%; and annual changes were 4.87%, 6.08%, 9.58% [4]. Stock Index Futures Trading Data Index Performance - On July 22, 2025, the closing prices of A - shares, CSI 300, and SSE 50 were 3581.86, 4118.96, 2792.18. The percentage changes were 0.62%, 0.82%, 0.72% [5]. Valuation - The PE (TTM) of CSI 300, SSE 50, and CSI 500 were 13.53, 11.44, 30.40. The环比 changes were 0.08, 0.03, 0.28 [5]. Risk Premium - The risk premium (1/PE - 10 - year interest rate) of S&P 500 and German DAX were - 0.61, 2.27. The环比 changes were 0.03, 0.07 [5]. Fund Flows - The latest values of A - shares, the main board, and the SME board were - 645.25, - 337.32, not available. The 5 - day average values were - 233.14, - 142.91, not available [5]. Trading Volume - The latest trading volumes of the Shanghai and Shenzhen stock markets, CSI 300, and SSE 50 were 18930.38, 4508.74, 1293.95. The环比 changes were 1930.58, 729.35, 325.56 [5]. Main Contract Basis - The basis of IF, IH, and IC were - 9.16, 4.62, - 84.01. The basis percentages were - 0.22%, 0.17%, - 1.35% [5]. Treasury Bond Futures Trading Data - On July 22, 2025, the closing prices of T00, TF00, T01, TF01 were 108.635, 105.885, 108.695, 105.970. The percentage changes were - 0.03%, - 0.03%, - 0.06%, - 0.02% [6]. - The money market rates of R001, R007, SHIBOR - 3M were 1.3599%, 1.4846%, 1.5490%. The daily changes were - 14.00 BP, - 2.00 BP, 0.00 BP [6]