Report Information - Report Title: "Large Class Asset Morning Report" - Report Date: September 17, 2025 - Author: Macro Team of the Research Center [2] Global Asset Market Performance 10 - Year Treasury Yields of Major Economies - Yields and Changes: On September 16, 2025, the 10 - year Treasury yields of the United States, the United Kingdom, France, etc. were 4.029, 4.638, 3.488 respectively. There were various changes in the latest, weekly, monthly, and yearly periods. For example, the latest change in the US was -0.010, and the yearly change was 0.319 [3]. 2 - Year Treasury Yields of Major Economies - Yields and Changes: On September 16, 2025, the 2 - year Treasury yields of the United States, the United Kingdom, Germany, etc. were 3.560, 3.960, 2.000 respectively. There were also different changes in different time - spans [3]. Dollar Exchange Rates Against Major Emerging - Market Currencies - Exchange Rates and Changes: On September 16, 2025, the dollar - to - Brazilian real exchange rate was 5.297, and there were percentage changes in the latest, weekly, monthly, and yearly periods. For instance, the latest change was -0.37%, and the yearly change was -5.40% [3]. Stock Indices of Major Economies - Index Values and Changes: On September 16, 2025, the S&P 500 was 6606.760, the Dow Jones Industrial Average was 45757.900, etc. There were percentage changes in the latest, weekly, monthly, and yearly periods. For example, the latest change in the S&P 500 was -0.13%, and the yearly change was 22.16% [3]. Credit Bond Indices - Index Changes: The latest, weekly, monthly, and yearly changes of credit bond indices such as the US investment - grade credit bond index, the euro - zone investment - grade credit bond index, etc. were presented. For example, the latest change in the US investment - grade credit bond index was 0.04%, and the yearly change was 4.72% [3] Stock Index Futures Trading Data Index Performance - Closing Prices and Changes: The closing prices of A - shares, CSI 300, SSE 50, etc. were 3861.87, 4523.34, 2947.82 respectively, with corresponding percentage changes [4]. Valuation - PE Ratios and Changes: The PE (TTM) ratios of CSI 300, SSE 50, and others were 14.09, 11.80, 34.32 respectively, with环比 changes [4]. Risk Premium - Risk Premium and Changes: The risk premiums (1/PE - 10 - year interest rate) of S&P 500 and German DAX were -0.39 and 2.50 respectively, with环比 changes [4]. Fund Flows - Fund Flow Values: The latest values and 5 - day average values of fund flows in A - shares, the main board, etc. were provided. For example, the latest value of A - share fund flow was -305.93 [4]. Trading Volumes - Trading Volumes and Changes: The latest trading volumes of the Shanghai and Shenzhen stock markets, CSI 300, etc. were 23414.02, 6137.28, etc., with环比 changes [4]. Main Contract Basis and Premium/Discount - Basis and Premium/Discount: The basis and percentage of premium/discount of IF, IH, IC were given. For example, the basis of IF was -6.54, and the percentage was -0.14% [4] Treasury Bond Futures Trading Data Closing Prices and Changes - Closing Prices and Percentage Changes: The closing prices of Treasury bond futures T00, TF00, T01, TF01 were 108.000, 105.795, 107.680, 105.680 respectively, with corresponding percentage changes [5]. Fund Interest Rates - Interest Rates and Daily Changes: The R001, R007, and SHIBOR - 3M interest rates were 1.4778%, 1.4998%, 1.5530% respectively, with daily changes in basis points [5]

Macro - Trump's intervention in the independence of the Federal Reserve is primarily through three avenues: 1) Nominating a Federal Reserve Chair who aligns with his views, expected to be nominated in November this year and take office in May next year; 2) Adjusting the personnel structure of the Federal Reserve Board to exclude "outsiders" like Cook, while appointing "loyalists" like Milan to strengthen his influence; 3) Intervening in the appointment of regional Federal Reserve presidents, whose terms will expire at the end of February next year [1] - With the new Federal Reserve Chair's appointment, 4 out of 7 members of the Federal Reserve Board will be "loyalists," giving Trump greater influence, which implies: 1) On a macroeconomic level, the expected rate cuts by the Federal Reserve in 2026 may exceed the current market pricing of three cuts, with policy rates potentially falling below the neutral level of 3%, leading to a shift from a soft landing to moderate expansion in the U.S. economic cycle; 2) On the asset class level, excessive rate cuts under political pressure may weaken dollar interest rate expectations and widen dollar credit risks, corresponding to declines in 2-year Treasury yields and the dollar index, while the decline in 10-year Treasury yields may be hindered by widening term premiums [1]

Group 1 - The U.S. Senate approved Stephen Milan's nomination to the Federal Reserve Board with a narrow vote of 48 to 47, which exceeded market expectations. Milan will participate in the upcoming FOMC meeting immediately after his confirmation [1] - The market anticipated a 25 basis point rate cut by the Federal Reserve, with a 95.9% probability according to CME FedWatch. The probability of a cumulative 50 basis point cut in October is 73.8% [2] - President Trump continues to pressure Fed Chair Jerome Powell for immediate and larger rate cuts, raising concerns about the politicization of monetary policy [2][5] Group 2 - Trump's influence on the Federal Reserve's independence is evident through his nomination of loyalists like Milan and potential changes to the board's composition, which could lead to a more accommodating monetary policy [3] - The recent downward revision of U.S. non-farm payroll data by 911,000 jobs is the largest on record, raising doubts about the actual strength of the U.S. labor market [4] - The Federal Reserve's upcoming interest rate decision and economic projections are critical, as the market is focused not just on whether a rate cut will occur, but also on the Fed's credibility amid political pressures [5] Group 3 - Economic scenarios post-rate cut will vary; a soft landing could lead to intermittent rate cuts, affecting asset performance differently, with potential for a weaker dollar and lower bond yields [6] - The market's reaction to rate cuts will depend on the economic context, with stock markets potentially facing pressure if recession fears rise, while bond markets may see a steeper yield curve due to inflation expectations [6]

Global Asset Market Performance - On September 15, 2025, the 10 - year Treasury yields of major economies showed various changes. For example, the US was 4.039% with a latest change of - 0.028%, a one - week change of - 0.002%, a one - month change of - 0.295%, and a one - year change of 0.311%. Other countries like the UK, France, etc. also had their own yield data and changes [3]. - The 2 - year Treasury yields of major economies were reported. For instance, the US was 3.520% on September 15, 2025, with a latest change of - 0.020%, a one - week change of - 0.070%, a one - month change of - 0.100%, and a one - year change of - 0.360% [3]. - The US dollar exchange rates against major emerging economies' currencies had different changes. For example, against the Brazilian real, it was 5.317 on September 15, 2025, with a latest change of - 0.70%, a one - week change of - 1.89%, a one - month change of - 2.20%, and a one - year change of - 4.60% [3]. - The performance of major economies' stock indices was presented. For example, the Dow Jones Industrial Average was 6615.280 on September 15, 2025, with a latest change of 0.47%, a one - week change of 1.85%, a one - month change of 2.58%, and a one - year change of 20.20% [3]. - Credit bond indices of different regions and levels had their own changes. For example, the emerging economies' investment - grade credit bond index had a latest change of 0.24%, a one - week change of 0.46%, a one - month change of 2.37%, and a one - year change of 4.76% [3][4]. Stock Index Futures Trading Data - The closing prices and price changes of A - share indices such as the Shanghai Composite Index, CSI 300, SSE 50, ChiNext, and CSI 500 were reported. For example, the Shanghai Composite Index closed at 3860.50 with a change of - 0.26% [5]. - Valuation data including PE (TTM) and their环比变化 of indices like CSI 300, SSE 50, CSI 500, S&P 500, and German DAX were provided. For example, the PE (TTM) of CSI 300 was 14.13 with a环比变化 of 0.00 [5]. - Risk premium data and their环比变化 of some indices were given. For example, the risk premium (1/PE - 10 - year interest rate) of S&P 500 was - 0.41 with a环比变化 of 0.01 [5]. - The latest values and 5 - day average values of fund flows in different segments of the A - share market were reported. For example, the latest value of A - share fund flow was - 1180.37, and the 5 - day average was - 554.63 [5]. - The latest values and环比变化 of trading volumes in different segments of the A - share market were reported. For example, the latest trading volume of the Shanghai and Shenzhen stock markets was 22773.85 with a环比变化 of - 2435.40 [5]. - The basis and basis percentage of index futures such as IF, IH, and IC were reported. For example, the basis of IF was - 5.26 with a basis percentage of - 0.12% [5]. Treasury Futures Trading Data - The closing prices and price changes of Treasury futures T00, TF00, T01, and TF01 were reported. All of them had a change of 0.00% on September 15, 2025 [6]. - The money market rates R001, R007, and SHIBOR - 3M and their daily changes (BP) were reported. For example, R001 was 1.4474% with a daily change of - 2.00 BP [6].

Report Summary 1. Report Industry Investment Rating - No relevant information provided. 2. Core View of the Report - No explicit core view is presented in the provided content. The report mainly presents the performance data of various global asset markets. 3. Summary by Related Catalogs Global Asset Market Performance - **10 - Year Treasury Yields of Major Economies**: On September 12, 2025, the 10 - year Treasury yields of the US, UK, France, etc., were 4.022, 4.606, 3.441 respectively. There were no latest changes, but significant weekly, monthly, and yearly changes were observed. For example, the US had a one - year change of 0.266, while Italy had a one - year change of - 0.206 [3]. - **2 - Year Treasury Yields of Major Economies**: On September 12, 2025, the 2 - year Treasury yields of the US, UK, Germany, etc., were 3.540, 3.927, 1.983 respectively. Weekly, monthly, and yearly changes also varied. For instance, the US had a one - year change of - 0.020, while Japan had a one - year change of 0.484 [3]. - **USD Exchange Rates Against Major Emerging Economies' Currencies**: As of September 12, 2025, the exchange rates of the US dollar against the Brazilian real, Russian ruble, etc., were 5.389, 108.000 respectively. There were no latest changes, and weekly, monthly, and yearly changes differed. For example, the Brazilian real had a one - year change of - 4.48% against the US dollar [3]. - **Major Economies' Stock Indices**: On September 12, 2025, the values of the S&P 500, Dow Jones Industrial Average, etc., were 6587.470, 46108.000 respectively. There were no latest changes, but weekly, monthly, and yearly changes were notable. For example, the S&P 500 had a one - year change of 19.34% [3]. - **Credit Bond Indices**: There were no latest changes in the US investment - grade credit bond index, euro - zone investment - grade credit bond index, etc. Weekly, monthly, and yearly changes were positive in most cases. For example, the US high - yield credit bond index had a one - year change of 8.93% [3][4]. Stock Index Futures Trading Data - **Index Performance**: The closing prices of A - shares, CSI 300, etc., were 3870.60, 4522.00 respectively, with different percentage changes. For example, the A - shares had a change of - 0.12% [5]. - **Valuation**: The PE (TTM) of the CSI 300, SSE 50, etc., were 14.13, 11.90 respectively, with corresponding环比 changes [5]. - **Risk Premium**: The risk premiums of the CSI 300, SSE 50, etc., were 3.70, 5.77 respectively, with no环比 changes [5]. - **Fund Flows**: The latest values of A - shares, the main board, etc., were 1342.66, 657.95 respectively [5]. - **Trading Volume**: The latest trading volumes of the Shanghai and Shenzhen stock markets, CSI 300, etc., were 25209.25, 6895.76 respectively, with corresponding环比 changes [5]. - **Main Contract Basis**: The basis of IF, IH, IC were 1.20, 0.06, - 7.75 respectively, with corresponding basis spreads [5]. Treasury Bond Futures Trading Data - **Closing Prices and Percentage Changes**: The closing prices of T00, TF00, etc., were 107.880, 105.760 respectively, with percentage changes of 0.14%, 0.19% respectively [6]. - **Funding Rates and Daily Changes**: The funding rates of R001, R007, etc., were 1.3979%, 1.4651% respectively, with daily changes of - 9.00BP, - 2.00BP respectively [6].

Report Summary 1. Report Date - The report was released on September 12, 2025, by the macro team of the research center [2] 2. Global Asset Market Performance 2.1 Government Bond Yields - **10 - year Government Bond Yields**: Yields showed various changes across different economies. For example, the US 10 - year yield on September 11, 2025, was 4.022, with a latest change of - 0.025, a one - week change of - 0.140, a one - month change of - 0.264, and a one - year change of 0.190 [3] - **2 - year Government Bond Yields**: The US 2 - year yield on September 11, 2025, was 3.540, with a latest change of 0.050, a one - week change of - 0.120, a one - month change of - 0.070, and a one - year change of - 0.370 [3] 2.2 Exchange Rates - **USD against Major Emerging Economies' Currencies**: The USD/Brazilian Real exchange rate on September 11, 2025, was 5.389, with a latest change of - 0.37%, a one - week change of - 1.06%, a one - month change of - 0.52%, and a one - year change of - 4.52% [3] - **Renminbi**: The on - shore RMB exchange rate on September 11, 2025, was 7.119, with a latest change of - 0.03%, a one - week change of - 0.32%, a one - month change of - 0.88%, and a one - year change of - 0.04% [3] 2.3 Stock Indices - **Major Economies' Stock Indices**: The S&P 500 index on September 11, 2025, was 6587.470, with a latest change of 0.85%, a one - week change of 1.31%, a one - month change of 1.84%, and a one - year change of 19.15% [3] - **Other Stock Indices**: The Hang Seng Index on September 11, 2025, was 26086.320, with a latest change of - 0.43%, a one - week change of 4.10%, a one - month change of 2.22%, and a one - year change of 47.79% [3] 2.4 Credit Bond Indices - The US investment - grade credit bond index on September 11, 2025, was 3529.910, with a latest change of 0.28%, a one - week change of 1.28%, a one - month change of 2.09%, and a one - year change of 5.49% [3][4] 3. Stock Index Futures Trading Data 3.1 Index Performance - The closing price of the A - share index was 3875.31, with a change of 1.65% [5] 3.2 Valuation - The PE (TTM) of the CSI 300 was 14.18, with a环比 change of 0.24 [5] 3.3 Risk Premium - The risk premium (1/PE - 10 - year interest rate) of the S&P 500 was - 0.37, with a环比 change of 0.00 [5] 3.4 Fund Flows - The latest value of fund flows into A - shares was 1342.66, and the 5 - day average was 30.55 [5] 4. Government Bond Futures Trading Data - The closing price of the T00 government bond futures was 107.880, with a change of - 0.31% [6] 5. Other Stock Indices - The Malaysian index on September 11, 2025, was 1582.850, with a latest change of - 0.50%, a one - week change of 0.30% [9]

Report Date - The report was published on September 11, 2025 [2] Global Asset Market Performance 10 - Year Treasury Yields of Major Economies - On September 10, 2025, yields in the US, UK, France, etc. were 4.047, 4.632, 3.461 respectively. Latest changes ranged from -0.041 (US) to 0.005 (Switzerland). Weekly changes were from -0.171 (US) to -0.057 (Switzerland). Monthly changes varied from -0.188 (US) to 0.127 (France). Annual changes were from -0.309 (Italy) to 0.579 (UK) [3] 2 - Year Treasury Yields of Major Economies - On September 10, 2025, yields in the US, UK, Germany, etc. were 3.490, 3.936, 1.949 respectively. Latest changes were from -0.020 (US) to 0.033 (South Korea). Weekly changes, monthly changes, and annual changes also showed different trends [3] Dollar - Exchange Rates Against Major Emerging - Market Currencies - On September 10, 2025, the exchange rate of the dollar against the Brazilian real was 5.409 with a latest change of -0.54%. Weekly, monthly, and annual changes also varied for different currencies [3] Stock Indices of Major Economies - On September 10, 2025, the S&P 500 was at 6532.040 with a latest change of 0.30%. Weekly, monthly, and annual changes differed among various indices such as the Dow Jones Industrial Average, NASDAQ, etc. [3] Credit Bond Indices - For credit bond indices including US investment - grade, euro - area investment - grade, etc., latest changes were from 0.03% (euro - area high - yield) to 0.46% (emerging - market high - yield). Weekly, monthly, and annual changes also showed different magnitudes [3][4] Stock Index Futures Trading Data Index Performance - Closing prices of A - shares, CSI 300, SSE 50, etc. were 3812.22, 4445.36, 2939.59 respectively on September 10, 2025. Percentage changes were 0.13%, 0.21%, 0.37% respectively [5] Valuation - PE (TTM) of CSI 300, SSE 50, and CSI 500 were 13.94, 11.79, 33.18 respectively. Their环比changes were 0.04, 0.04, - 0.03 respectively [5] Risk Premium - Risk premium (1/PE - 10 - year interest rate) of S&P 500 was -0.37 with a环比change of 0.03, and that of German DAX was 2.47 with a环比change of 0.02 [5] Fund Flows - Latest values of fund flows for A - shares, the main board, etc. were -460.27, -445.33, etc. respectively. Their 5 - day average values also varied [5] Trading Volume - Latest trading volumes of the Shanghai and Shenzhen stock markets, CSI 300, etc. were 19781.23, 5355.39, etc. respectively. Their环比changes were -1404.01, -273.22, etc. respectively [5] Main Contract Basis - Basis of IF, IH, IC were -12.96, -1.79, -68.71 respectively, and their basis spreads were -0.29%, -0.06%, -0.99% respectively [5] Treasury Bond Futures Trading Data - Closing prices of T00, TF00, T01, TF01 were 107.725, 105.570, 107.490, 105.425 respectively. Their percentage changes were 0.00%, -0.01%, -0.08%, -0.01% respectively [6] - Money market rates of R001, R007, SHIBOR - 3M were 1.4592%, 1.4988%, 1.5530% respectively, and their daily changes were -3.00BP, 1.00BP, 0.00BP respectively [6]

Report Information - Research Team: Guanyi'an Futures Research Center Macro Team [1] - Report Date: September 5, 2025 [1] Global Asset Market Performance 10 - Year Treasury Yields of Major Economies - On September 4, 2025, yields varied widely across countries, e.g., the US was 4.162%, Japan 3.589%, and China 1.806% [2] - Recent changes showed mixed trends, with some yields rising and others falling over different time - frames (latest, one - week, one - month, one - year) [2] 2 - Year Treasury Yields of Major Economies - Yields on September 4, 2025, such as the US at 3.660%, the UK at 3.944%, and Germany at 1.961% [2] - Changes over different periods also showed a mix of increases and decreases [2] Dollar Exchange Rates Against Major Emerging Economies' Currencies - On September 4, 2025, exchange rates were as follows: Brazil 5.447, South Africa zar 17.779, etc. [2] - Exchange rates had different percentage changes over various time - spans, with some appreciating and others depreciating [2] Performance of Major Economies' Stock Indices - On September 4, 2025, indices like the S&P 500 was 6502.080, the Nikkei was 42580.270, etc. [2] - Indices showed different trends in terms of daily, weekly, monthly, and yearly changes [2] Credit Bond Indices - Different credit bond indices (US investment - grade, Eurozone investment - grade, etc.) had varying percentage changes over different time periods [2][3] Stock Index Futures Trading Data Index Performance - Closing prices on September 4, 2025: A - share was 3765.88, CSI 300 was 4365.21, etc. [4] - All indices had negative percentage changes on that day, e.g., A - share - 1.25%, CSI 300 - 2.12% [4] Valuation - PE (TTM) values and their环比 changes were provided for several indices, such as CSI 300 (13.85, - 0.16) and S&P 500 (27.06, 0.28) [4] Risk Premium - Risk premium values and their环比 changes were given for some indices, e.g., S&P 500 (- 0.47, 0.01) and Germany's DAX (2.38, - 0.01) [4] Fund Flows - Latest and 5 - day average fund flow values were negative for most segments, e.g., A - shares (- 1326.31, - 1317.62) [4] Trading Volume - Latest trading volume and环比 changes were presented for different markets, e.g., Shanghai and Shenzhen stock markets (25442.57, 1801.71) [4] Basis and Spread of Main Contracts - Basis and spread percentages were provided for IF, IH, and IC contracts, e.g., IF (- 15.81, - 0.36%) [4] Treasury Futures Trading Data Futures Closing Prices and Changes - Closing prices on September 4, 2025, for T00 was 108.350, TF00 was 105.815, etc. [5] - All had positive percentage changes, e.g., T00 0.15%, TF00 0.09% [5] Money Market Interest Rates - Interest rates for R001, R007, and SHIBOR - 3M were 1.3577%, 1.4622%, and 1.5500% respectively, with R001 having a - 10.00 BP daily change [5]

Report Date - The report is dated September 4, 2025 [1] Global Asset Market Performance Bond Yields - On September 3, 2025, the 10 - year bond yields of major economies varied, with the US at 4.218, UK at 4.747, etc. The latest changes, weekly, monthly, and yearly changes also differed across countries. For example, the US 10 - year bond yield had a latest change of - 0.044, a weekly change of - 0.017, a monthly change of - 0.011, and a yearly change of 0.401 [2] - The 2 - year bond yields of some major economies also showed different values and changes on September 3, 2025. For instance, the UK 2 - year bond yield was 3.956, with a latest change of - 0.021, a weekly change of - 0.003, a monthly change of 0.140 [2] Exchange Rates - The exchange rates of the US dollar against major emerging - economy currencies had various changes. For example, against the Brazilian real, the exchange rate on September 3, 2025, was 5.451, with a latest change of - 0.26%, a weekly change of 0.61%, a monthly change of - 0.23%, and a yearly change of - 0.80% [2] - The on - shore and off - shore RMB, RMB mid - price, and 12 - month NDF also had their own changes in rates [2] Stock Indices - Stock indices of major economies had different closing prices and changes on September 3, 2025. The S&P 500 closed at 6448.260, with a latest change of 0.51%, a weekly change of - 0.51%, a monthly change of 1.63%, and a yearly change of 14.80% [2] Credit Bond Indices - Credit bond indices of different regions and types (investment - grade and high - yield) had different changes in the latest, weekly, monthly, and yearly periods. For example, the US investment - grade credit bond index had a latest change of 0.44%, a weekly change of 0.06%, a monthly change of 0.33%, and a yearly change of 3.50% [2][3] Futures Trading Data Stock Index Futures - For A - shares, the closing price was 3813.56 with a decline of 1.16%. The closing prices, changes, valuations, risk premiums, fund flows, trading volumes, and basis spreads of other indices like the CSI 300, SSE 50, ChiNext, and CSI 500 were also presented [4] Treasury Bond Futures - Treasury bond futures T00, TF00, T01, and TF01 had closing prices of 108.290, 105.790, 108.160, and 105.725 respectively, with corresponding changes in percentages [5] Money Market - The capital interest rates of R001, R007, and SHIBOR - 3M were 1.3543%, 1.4644%, and 1.5500% respectively, with daily changes in basis points [5]

Report Overview - The report is a daily report on major asset markets released by the macro team of the research center on September 3, 2025 [1] Global Asset Market Performance 10 - Year Treasury Yields of Major Economies - On September 2, 2025, the 10 - year Treasury yields of the US, UK, France, etc. were 4.262%, 4.799%, 3.582% respectively [2] - The latest changes ranged from 0.020% (Switzerland) to 0.067% (Italy), with weekly changes from - 0.055% (Brazil) to 0.120% (Italy), monthly changes from - 0.085% (Japan) to 0.298% (France), and annual changes from - 0.276% (Japan) to 0.888% (UK) [2] 2 - Year Treasury Yields of Major Economies - On September 2, 2025, the 2 - year Treasury yields of the US, UK, Germany were 3.590%, 3.977%, 1.971% respectively [2] - The latest changes ranged from - 0.030% (US) to 0.037% (Italy), with weekly changes from - 0.090% (US) to 0.063% (Italy), monthly changes from - 0.160% (US) to 0.157% (UK), and annual changes from - 0.644% (South Korea) to 0.502% (Japan) [2] US Dollar Exchange Rates Against Major Emerging - Market Currencies - On September 2, 2025, the exchange rates of the US dollar against the Brazilian real, South African rand, etc. were 5.465, 17.691 respectively [2] - The latest changes were from 0.17% (South Korean won) to 0.47% (Brazilian real), weekly changes from - 0.29% (Thai baht) to 0.61% (Brazilian real), monthly changes from - 1.26% (South African rand) to 0.67% (South Korean won), and annual changes from - 5.47% (Thai baht) to 4.94% (South Korean won) [2] Major Economies' Stock Indexes - On September 2, 2025, the S&P 500, Dow Jones Industrial Average, and Nasdaq were 6415.540, 45295.810, 21279.630 respectively [2] - The latest changes were from - 2.29% (German DAX) to 1.50% (Mexican index), weekly changes from - 2.76% (German DAX) to 2.78% (Mexican index), monthly changes from - 1.50% (German DAX) to 6.65% (Shanghai Composite Index), and annual changes from - 7.83% (Thai index) to 44.77% (Hang Seng Index) [2] Credit Bond Indexes - On September 2, 2025, the US investment - grade credit bond index, euro - area investment - grade credit bond index were 3453.350, 263.168 respectively [2] - The latest changes were from - 0.31% (emerging - market high - yield credit bond index) to - 0.14% (euro - area high - yield credit bond index), weekly changes from - 0.34% (US and euro - area investment - grade credit bond indexes) to 0.09% (emerging - market high - yield credit bond index), monthly changes from - 0.49% (euro - area investment - grade credit bond index) to 0.82% (US high - yield credit bond index), and annual changes from 2.98% (US investment - grade credit bond index) to 13.03% (emerging - market high - yield credit bond index) [2][3] Stock Index Futures Trading Data Index Performance - The closing prices of A - shares, CSI 300, SSE 50, etc. were 3858.13, 4490.45, 2992.88 respectively, with daily changes of - 0.45%, - 0.74%, 0.39% respectively [4] Valuation - The PE (TTM) of CSI 300, SSE 50, and CSI 500 were 14.14, 11.88, 33.92 respectively, with环比 changes of 0.00, 0.00, 0.00 respectively [4] Risk Premium - The risk premium (1/PE - 10 - year interest rate) of the S&P 500 and German DAX were - 0.51, 2.37 respectively, with环比 changes of - 0.01, 0.08 respectively [4] Fund Flows - The latest values of fund flows for A - shares, the main board, and the ChiNext were - 2098.61, - 1276.56, - 608.60 respectively, and the 5 - day average values were - 1398.64, - 1061.97, - 290.34 respectively [4] Trading Volume - The latest trading volumes of the Shanghai and Shenzhen stock markets, CSI 300, and SSE 50 were 28749.91, 7779.99, 1960.61 respectively, with环比 changes of 1250.30, 76.21, 7.99 respectively [4] Main Contract Basis - The basis of IF, IH, and IC were - 9.25, - 0.08, - 65.49 respectively, with basis ratios of - 0.21%, - 0.00%, - 0.94% respectively [4] Treasury Bond Futures Trading Data - The closing prices of T00, TF00, T01, and TF01 were 108.130, 105.700, 107.955, 105.570 respectively, with daily changes of 0.23%, 0.03%, 0.18%, 0.08% respectively [5] - The R001, R007, and SHIBOR - 3M were 1.3548%, 1.4619%, 1.5490% respectively, with daily changes of - 12.00 BP, - 1.00 BP, 0.00 BP respectively [5]