Core Viewpoint - The yield on the UK's 20-year government bonds has reached its highest level since August 1998, at 5.583%, with an increase of 4 basis points on the same day [1]. Group 1 - The 20-year government bond yield in the UK has seen a significant rise, indicating potential shifts in the bond market [1]. - The current yield level reflects broader economic conditions and investor sentiment towards long-term government debt [1].

Group 1 - The 3-year Australian government bond yield continues to rise, increasing by 10 basis points to 3.55% [1]

Report Summary 1. Report Industry Investment Rating No industry investment rating is provided in the report. 2. Core View of the Report On September 2, the closing prices of the four major stock index futures contracts showed mixed trends, with IF down 0.72%, IH up 0.35%, IC down 1.8%, and IM down 1.85%. The total trading volume of stock index futures rebounded, indicating an increase in investors' trading enthusiasm. The total positions of all contracts also increased. The trend strength of IF and IH is 1, and that of IC and IM is also 1 [1][2][6]. 3. Summary by Relevant Catalogs 3.1. Stock Index Futures Data Tracking - **Closing Prices and Fluctuations**: On September 2, the closing price of CSI 300 was 4490.45, down 0.74%; IF2509 was 4481.2, down 0.72%. The closing price of SSE 50 was 2992.88, up 0.39%; IH2509 was 2992.8, up 0.35%. The closing price of CSI 500 was 6961.69, down 2.09%; IC2509 was 6896.2, down 1.80%. The closing price of CSI 1000 was 7313.88, down 2.50%; IM2509 was 7251.4, down 1.85% [1]. - **Trading Volume and Position Changes**: On the trading day, the total trading volume of IF increased by 51,069 lots, IH by 26,017 lots, IC by 46,175 lots, and IM by 85,941 lots. The total positions of IF increased by 21,717 lots, IH by 12,783 lots, IC by 18,794 lots, and IM by 26,043 lots [2]. - **Basis**: The basis of IF2509 was -9.25, IH2509 was -0.08, IC2509 was -65.49, and IM2509 was -62.48 [1]. - **Top 20 Member Position Changes**: The top 20 members' long - position and short - position changes varied among different contracts. For example, in IF2509, the long - position increased by 8,797 lots and the short - position by 7,564 lots [5]. 3.2. Trend Strength The trend strength of IF and IH is 1, and that of IC and IM is also 1. The trend strength ranges from -2 to 2, with -2 being the most bearish and 2 being the most bullish [6]. 3.3. Important Drivers - **Overseas Market**: The Nasdaq fell 1.7%, with chip stocks leading the decline. The yields of long - term bonds soared, and the price of gold broke through the $3,500 mark. The three major US stock indexes opened lower, with the Dow down 0.9%, the S&P 500 down 1.25%, and the Nasdaq down 1.7%. The US ISM manufacturing PMI in August continued to contract for the sixth consecutive month, but new orders improved and the price index declined again [6]. - **Domestic Market**: In August, the central bank's MLF had a net investment of 300 billion yuan, PSL had a net withdrawal of 160.8 billion yuan, and the outright reverse repurchase in the open market had a net investment of 300 billion yuan. The Shanghai Composite Index fell 0.45% to 3,858.13 points, the Shenzhen Component Index fell 2.14%, and the ChiNext Index fell 2.85%. The A - share trading volume was 2.91 trillion yuan, up from 2.78 trillion yuan the previous day. Most sectors performed poorly, with only a few sectors such as banks, reducers, and gold showing strength [7].

Group 1 - The 20-year Japanese government bond yield has risen to 2.685%, marking the highest level since October 1999 [1]

Group 1 - The core point of the article highlights the significant decline in UK government bonds, with the 30-year bond yield increasing by 8 basis points to 5.72% [1]

每经AI快讯，9月2日，英国10年期国债收益率上涨6个基点至4.81%，为1月以来最高水平。 ...

Group 1 - The yield on Germany's 10-year government bonds increased by 5 basis points to 2.79%, marking the highest level since March [1]

Group 1 - The yield on Spain's 30-year government bonds has increased by 5.5 basis points, reaching 4.297%, marking the highest level since November 2023 [1]

每经AI快讯，9月2日，法国30年期国债收益率达到自2009年6月以来的最高水平，为4.51%，日内上涨6 个基点。 ...

每经AI快讯，9月2日，西班牙30年期国债收益率升至2023年11月以来最高水平4.297%，上涨5.5个基 点。 ...