Stock Market - The A-share market experienced a slight increase, with Wind All A rising by 0.46% and a trading volume of 2.16 trillion yuan, while the TMT and power equipment sectors led the gains [3][9] - The consumer sector continued to decline, with the CSI 1000 index up by 0.91%, CSI 500 index up by 1.17%, CSI 300 index up by 0.12%, and the SSE 50 index down by 0.28% [3][9] - Geopolitical risks, particularly the US-Iran situation and Japan's election results, are significant factors affecting the A-share market during the Spring Festival [3][10] - The correlation between A-share technology themes and US stocks has increased since November, indicating a global market linkage rather than isolated A-share sentiment [3][10] - The newly nominated Federal Reserve Chairman's monetary policy is more hawkish than market expectations, emphasizing a results-oriented approach rather than a predictive model [3][10] Bond Market - The 30-year bond futures contract fell by 0.03%, while the 10-year and 5-year contracts rose by 0.02%, and the 2-year contract remained stable [11] - The People's Bank of China conducted a 400 billion yuan 14-day and a 166.5 billion yuan 7-day reverse repurchase operation, resulting in a net injection of 448 billion yuan [11] - The interbank market saw a decline in the weighted rates for DR001 and DR007, down by 0.79 basis points to 1.362% and 1.31 basis points to 1.5257%, respectively [11][5] - The bond market's upward momentum is limited due to ongoing fiscal policies aimed at stabilizing growth, maintaining a fluctuating interest rate environment [5][11] Precious Metals - London spot precious metals saw a significant decline, influenced by geopolitical shifts, particularly Russia's potential return to the dollar settlement system [12] - Concerns over market liquidity were heightened following a drop in US stocks, leading to increased volatility in precious metals [12] - The current trend in precious metals remains unclear, with recommendations for light positions during the holiday period, focusing more on gold performance [12]