Core Viewpoint - Federal Reserve Chairman Jerome Powell met with the President of the United States to discuss economic growth, employment, and inflation, emphasizing that policy decisions will be based solely on objective analysis [1] Economic Growth - The meeting focused on the current state of economic growth in the United States, highlighting the importance of maintaining a stable growth trajectory [1] Employment - Employment levels and job creation were key topics, indicating ongoing concerns about labor market conditions and their impact on the economy [1] Inflation - Inflation was a significant point of discussion, with Powell reiterating the Fed's commitment to addressing inflationary pressures through data-driven policy decisions [1]

美联储可能会尽可能长时间地维持政策不变。因此，今年两次降息是合理的，这已被市场消化。 法国兴业银行美国利率策略主管Subadra Rajappa：债券市场真正关注的是所有不确定性对经济增长的影 响轨迹。 ...

Core Viewpoint - The CEO of the Royal Bank of Canada anticipates that the Bank of Canada will continue to adopt a more dovish stance to boost consumer confidence and economic growth [1] Group 1 - The Royal Bank of Canada is projecting a shift in the Bank of Canada's monetary policy towards a more accommodative approach [1] - The expectation is that this dovish stance will positively impact consumer sentiment and stimulate economic activity [1]

Core Viewpoint - The CEO of the Royal Bank of Canada anticipates that the Bank of Canada will maintain a more dovish stance to boost consumer confidence and economic growth [1] Group 1 - The expectation of a dovish monetary policy is aimed at enhancing consumer confidence [1] - The approach is also intended to stimulate economic growth in Canada [1]

Group 1 - The financial markets are reassessing the Federal Reserve's interest rate cut expectations, posing new challenges for global stock markets and the dollar [1] - The Federal Reserve is currently adopting a cautious wait-and-see approach, awaiting further clarity on inflation and economic outlook [1] - There is a high level of uncertainty regarding the economic outlook, with officials expressing concerns about persistent inflation and potential economic weakness [1] Group 2 - Upcoming key economic data will provide insights into the true state of the U.S. economy, with a focus on the Personal Consumption Expenditures (PCE) price index [2] - The overall PCE is expected to slightly decrease to 2.2% year-on-year, the lowest level in seven months, while core PCE is projected to drop to 2.5%, the lowest since March 2021 [2] Group 3 - Economic data is not entirely optimistic, with a second estimate of Q1 GDP expected to confirm a 0.3% annualized decline [3] - Consumer confidence has fallen to its lowest level since June 2022, indicating a decline in market sentiment [3] - The market anticipates that the Federal Reserve will not cut rates before September, with a 40.1% chance of a delay in rate cuts [3] - The market's expectations for rate cuts this year have been reduced to only 40 basis points, the most moderate setting for 2025 in three months [3] - The trend of delayed rate cuts may invigorate long-term U.S. Treasury and gold prices, while putting pressure on the stock market and the dollar [3]

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - Through macro - fundamental and technical analysis, the report predicts the trend of various futures on May 29, 2025. Index futures will show a weak and volatile trend, while crude oil futures will show a strong and volatile trend. Other commodity futures such as gold, silver, and copper will mostly show a weak and volatile trend [1][2]. Summary by Related Catalogs Futures Market Outlook - **Index Futures**: On May 29, 2025, index futures will be weakly volatile. For example, IF2506 has resistance levels at 3822 and 3831 points and support levels at 3798 and 3775 points [2]. - **Treasury Bond Futures**: The ten - year Treasury bond futures contract T2509 and the thirty - year Treasury bond futures contract TL2509 will likely have wide - range fluctuations [2]. - **Commodity Futures**: Gold, silver, copper, alumina, and other commodity futures will be weakly volatile, while crude oil futures will be strongly volatile [1][2]. Macro News and Trading Tips - **Domestic News**: The Chinese government welcomes more US financial institutions to cooperate in the Chinese capital market; measures are taken to regulate the platform economy; visa - free policies are implemented for citizens of some Middle - Eastern countries; the number of college entrance examination applicants in 2025 is 13.35 million; state - owned enterprise revenues are flat year - on - year, with a decline in profits; Hong Kong implements a global minimum tax; the upward trend of the COVID - 19 epidemic slows down [7][8]. - **International News**: The Fed is cautious about interest - rate cuts; Trump warns Israel not to attack Iran; there are disputes over Trump's tax and spending bills; NATO plans to increase the number of troops and defense spending targets; the EU criticizes Israel's military actions and plans to cut carbon emissions [9][11]. Commodity Futures Information - **Precious Metals**: On May 28, international precious - metal futures generally closed lower. COMEX gold futures fell 0.48% to $3284.40 per ounce, and COMEX silver futures fell 0.65% to $33.10 per ounce [11]. - **Crude Oil**: International oil prices strengthened on May 28. US crude oil futures rose 1.59% to $61.86 per barrel, and Brent crude oil futures rose 1.18% to $64.32 per barrel. OPEC + will discuss increasing oil production in July [12]. - **Base Metals**: On May 28, most London base - metal futures closed lower. LME tin futures fell 3.35% to $31495.00 per ton, and LME copper futures fell 0.32% to $9566.00 per ton [12]. Futures Market Analysis and Outlook - **Index Futures**: On May 28, index futures mostly closed lower. They are expected to be weakly volatile on May 29, 2025, and are expected to be strongly and widely volatile in May 2025 [13][17][18]. - **Treasury Bond Futures**: On May 28, most Treasury bond futures closed lower. The ten - year and thirty - year Treasury bond futures are expected to have wide - range fluctuations on May 29, 2025 [31][33][35]. - **Commodity Futures**: On May 28, most commodity futures showed different trends. They are expected to have corresponding trends on May 29, 2025, with most being weakly volatile and crude oil being strongly volatile [39][51][89].

Core Insights - The Reserve Bank of India projects that the Indian economy is expected to maintain its position as the fastest-growing major economy in the fiscal year 2025-26 [1] - Ongoing geopolitical tensions and sluggish global demand continue to pose risks to economic growth [1] Economic Outlook - The Indian economy is anticipated to grow at a faster rate compared to other major economies [1] - The growth forecast is influenced by external factors such as geopolitical issues and global market conditions [1]

印度央行：温和的通胀前景和适度的经济增长支持货币政策维持对增长的支持立场。 ...

Core Viewpoint - The Dutch International Group's senior economist Min Joo Kang reports that the Bank of Korea may lower interest rates twice in the second half of the year, aiming to reduce the policy rate to 2.0% by the end of 2025 to support a weak economy [1] Economic Outlook - The Bank of Korea has revised its economic growth forecast for South Korea from 1.5% to 0.8% for 2025 [1] - Following a 0.25 percentage point reduction in the benchmark interest rate to 2.50%, the focus of the Bank of Korea has shifted towards promoting growth rather than curbing inflation [1] External Factors - Higher-than-expected U.S. tariffs are anticipated to suppress exports [1] - Weak construction investment is expected to negatively impact overall economic growth for the year [1]

Group 1 - The Bank of Korea has lowered the benchmark interest rate by 25 basis points to 2.5%, marking the lowest level since August 2022 and the fourth rate cut in the last six meetings [1][4] - The central bank has significantly revised its GDP growth forecast for 2025 from 1.5% to 0.8%, indicating a serious economic downturn [1][4] - Political instability and trade pressures are cited as major factors contributing to the economic challenges, including the impeachment of former President Yoon Suk-yeol and potential tariffs from the Trump administration [1][4] Group 2 - Following the central bank's decision, the KOSPI index increased by 1.7%, while the Korean won depreciated by 0.71% against the US dollar, trading at 1381.40 [2] - The central bank's monetary policy statement emphasizes the need to maintain a dovish stance to mitigate economic growth risks while closely monitoring domestic and international policy changes [4] - Economic fundamentals have deteriorated sharply, with a surprising 0.1% contraction in GDP in the first quarter, marking the first negative growth since Q4 2020 [4][6]