国债市场

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大类资产早报-20250825
Yong An Qi Huo· 2025-08-25 03:11
| SIL 斯不又打 | | --- | | SOURCE POINT -- | 最新变化 0.53% 0.13% 0.26% 0.38% -0.01% 0.33% 一周变化 0.36% 0.11% 0.31% 0.27% -0.16% 0.04% 一月变化 1.28% 0.25% 1.49% 0.77% 0.53% 1.82% 一年变化 4.10% 4.54% 5.75% 9.10% 7.97% 14.46% 股 指 期 货 交 易 数 据 | 指数表现 | A股 | 沪深300 | 上证50 | 创业板 | 中证500 | | --- | --- | --- | --- | --- | --- | | 收盘价 | 3825.76 | 4378.00 | 2928.61 | 2682.55 | 6822.85 | | 涨跌(%) | 1.45 | 2.10 | 2.32 | 3.36 | 1.77 | | 估值 | 沪深300 | 上证50 | 中证500 | 标普500 | 德国DAX | | PE(TTM) | 13.97 | 11.94 | 32.59 | 27.41 | 20.12 | | 环比变化 ...
PPI回升高度恐有限
Xin Da Qi Huo· 2025-08-11 03:31
Report Industry Investment Rating Not provided in the given content. Core Viewpoints of the Report - In July, China's exports exceeded expectations, but container throughput dropped sharply at the beginning of August, and if the trend continues, August may be a turning point [1][11]. - Although the month - on - month PPI growth rate rebounded in July, the year - on - year growth rate remained unchanged. If commodity prices can hold up in August, the year - on - year PPI growth rate may rebound, but the rebound amplitude is expected to be limited [2][17]. - The real estate market continues to be sluggish, with new home sales area at a historical low and the second - hand housing market deteriorating [2][21]. - The bond market is in a volatile state this week. Looking forward, the bond market has investment value, and bond yields may break previous lows [3][35]. Summary by Directory 1. Domestic Economic Data Tracking (1) Export Exceeded Expectations - In July, China's export value was $321.78 billion, a year - on - year increase of 7.2%, far exceeding the Wind consensus forecast of 5.8% [11]. - Due to the "rush to export", the cumulative growth rate of export value has deviated from the annual average of the new export order index. Exports to the EU and ASEAN remained resilient, while those to the US continued to decline [11]. - Container throughput continued to rise in July but dropped sharply at the beginning of August. If the trend continues, August may be a turning point [1][11]. (2) Supply - side Reform Has Not Been Transmitted to PPI - In July, the year - on - year PPI remained at - 3.6%, the same as in June, due to the base effect. However, the month - on - month PPI growth rate rebounded by 0.2 percentage points compared to June [15][17]. - If commodity prices can hold up in August, the year - on - year PPI growth rate may rebound. However, the rebound amplitude is expected to be limited because the price increase in the upstream is difficult to be transmitted downstream, and overall demand needs to recover. Currently, only the mining and raw material sectors are showing price increases, accounting for about 25% [2][19]. 2. Real Estate Policy Effect Tracking - The Real Estate Market Continued to Perform Sluggishly - The sales area of new homes in 30 large and medium - sized cities continued to decline seasonally, remaining lower than the same period in 2024. The sales area of new homes in first - and third - tier cities was lower than in 2024, while that in second - tier cities was basically the same as last year. All are hovering at historical lows [2][21]. - As of July 28, the listing price index of second - hand housing continued to decline overall. The listing price index in first - tier cities rebounded slightly, while those in second - and third - tier cities continued to fall [2][21]. 3. Treasury Bonds: Policy Disturbance Cooled Down, and the Bond Market Remained Volatile - The bond market was relatively stable this week. The central bank conducted a 700 - billion - yuan 3 - month (91 - day) outright reverse repurchase operation, with a net injection of 300 billion yuan, sending a signal of explicit support [35]. - The upward trend brought by supply - side reform cooled down this week, and the impact on the bond market was not significant. Due to the unfalsifiable expectation of economic recovery brought by policy expectations, the bond market remained volatile [35]. - Looking forward, the overall view is bullish, with short - term volatility expected. The probability of interest rates continuing to decline is relatively high, and it will take time to test the policy effects [35].
金十图示:2025年07月22日(周二)亚盘市场行情
news flash· 2025-07-22 01:45
Group 1: Precious Metals - Spot platinum (XPTUSD) is priced at 1450.620, showing an increase of 5.240 or 0.36% [2] - Spot palladium (XPDUSD) is priced at 1292.376, reflecting a decrease of 3.710 or 0.29% [2] - Gold (COMEX) is trading at 3403.900, down by 6.400 or 0.19% [2] - Silver (COMEX) is priced at 39.175, decreasing by 0.065 or 0.17% [2] Group 2: Foreign Exchange - The euro to US dollar (EURUSD) is at 1.168, down by 0.08% [3] - The British pound to US dollar (GBPUSD) is at 1.348, down by 0.10% [3] - The US dollar to Japanese yen (USDJPY) is at 147.592, up by 0.17% [3] - The Australian dollar to US dollar (AUDUSD) is at 0.652, down by 0.12% [3] - The US dollar to Swiss franc (USDCHF) is at 0.799, up by 0.11% [3] Group 3: Cryptocurrencies - Bitcoin (BTC) is priced at 117355.800, down by 24.570 or 0.02% [4] - Litecoin (LTC) is at 115.500, increasing by 0.070 or 0.06% [4] - Ethereum (ETH) is priced at 3757.220, down by 5.110 or 0.14% [4] - Ripple (XRP) is at 3.529, decreasing by 0.020 or 0.57% [4] Group 4: Treasury Bonds - The US 2-year Treasury yield is at 3.859, up by 0.007 or 0.18% [6] - The US 5-year Treasury yield is at 3.911, increasing by 0.003 or 0.08% [7] - The US 10-year Treasury yield is at 4.374, down by 0.005 or 0.11% [7] - The US 30-year Treasury yield is at 4.938, up by 0.001 or 0.02% [7] - The UK 10-year Treasury yield is at 4.603, down by 0.001 or 0.02% [7] - The German 10-year Treasury yield is at 2.618, down by 0.073 or 2.71% [7] - The French 10-year Treasury yield is at 3.297, down by 0.099 or 2.92% [7] - The Italian 10-year Treasury yield is at 3.482, down by 0.094 or 2.63% [7] - The Japanese 10-year Treasury yield is at 1.520, down by 0.007 or 0.46% [7]
金十图示:2025年07月09日(周三)美盘市场行情一览
news flash· 2025-07-09 13:48
Group 1: Precious Metals - Spot platinum (XPTUSD) is priced at 1362.546, down by 16.228 or 1.18% [2] - Spot palladium (XPDUSD) is priced at 1120.423, up by 4.285 or 0.38% [2] - Gold (COMEX GC) is priced at 3304.200, down by 6.800 or 0.21% [2] - Silver (COMEX SI) is priced at 36.615, down by 0.310 or 0.84% [2] Group 2: Foreign Exchange - Euro to US Dollar (EURUSD) is at 1.171, down by 0.11% [3] - British Pound to US Dollar (GBPUSD) is at 1.359, up by 0.01% [3] - US Dollar to Japanese Yen (USDJPY) is at 146.488, down by 0.05% [3] - Australian Dollar to US Dollar (AUDUSD) is at 0.654, up by 0.11% [3] - US Dollar to Swiss Franc (USDCHF) is at 0.795, down by 0.06% [3] Group 3: Virtual Currency - Bitcoin (BTC) is priced at 109443.990, up by 521.010 or 0.48% [4] - Litecoin (LTC) is priced at 88.790, up by 1.030 or 1.17% [4] - Ethereum (ETH) is priced at 2664.260, up by 49.010 or 1.87% [4] - Ripple (XRP) is priced at 2.375, up by 0.064 or 2.77% [4] Group 4: Treasury Bonds - The yield on the 2-year US Treasury bond is 3.876, down by 0.033 or 0.84% [6] - The yield on the 5-year US Treasury bond is 3.953, down by 0.034 or 0.85% [7] - The yield on the 10-year US Treasury bond is 4.386, down by 0.030 or 0.68% [7] - The yield on the 30-year US Treasury bond is 4.916, down by 0.030 or 0.61% [7] - The yield on the 10-year UK Treasury bond is 4.610, down by 0.024 or 0.52% [7] - The yield on the 10-year German Treasury bond is 2.632, down by 0.012 or 0.45% [7] - The yield on the 10-year French Treasury bond is 3.355, down by 0.005 or 0.15% [7] - The yield on the 10-year Italian Treasury bond is 3.548, down by 0.013 or 0.37% [7] - The yield on the 10-year Japanese Treasury bond is 1.513, up by 0.027 or 1.82% [7]
金十图示:2025年07月08日(周二)亚盘市场行情
news flash· 2025-07-08 01:51
Group 1: Precious Metals - Spot platinum (XPTUSD) is priced at 1376.506, showing an increase of 7.008 or 0.51% [2] - Spot palladium (XPDUSD) is priced at 1118.302, with a rise of 4.240 or 0.38% [2] - Gold (COMEX) is trading at 3345.600, down by 0.800 or 0.02% [2] - Silver (COMEX) is at 36.950, slightly up by 0.010 or 0.03% [2] Group 2: Foreign Exchange - Euro to USD (EURUSD) is at 1.174, increasing by 0.30% [3] - GBP to USD (GBPUSD) is at 1.363, up by 0.20% [3] - USD to JPY (USDJPY) is at 146.111, with a slight increase of 0.03% [3] - AUD to USD (AUDUSD) is at 0.651, rising by 0.33% [3] - USD to CHF (USDCHF) is at 0.797, decreasing by 0.16% [3] Group 3: Cryptocurrencies - Bitcoin is priced at 107880.120, down by 382.820 or 0.35% [4] - Litecoin (LTC) is at 85.760, decreasing by 0.290 or 0.34% [4] - Ethereum (ETH) is trading at 2531.090, down by 11.200 or 0.44% [4] - Ripple (XRP) is at 2.257, decreasing by 0.014 or 0.61% [4] Group 4: Treasury Bonds - The yield on the 2-year US Treasury bond is at 3.893 [6] - The yield on the 5-year US Treasury bond is at 3.960, down by 0.006 or 0.15% [7] - The yield on the 10-year US Treasury bond is at 4.388, decreasing by 0.007 or 0.16% [7] - The yield on the 30-year US Treasury bond is at 4.917, down by 0.013 or 0.26% [7] - The yield on the 10-year UK Treasury bond is at 4.577, decreasing by 0.014 or 0.30% [7] - The yield on the 10-year German Treasury bond is at 2.606, increasing by 0.040 or 1.54% [7] - The yield on the 10-year French Treasury bond is at 3.321, up by 0.042 or 1.28% [7] - The yield on the 10-year Italian Treasury bond is at 3.517, increasing by 0.045 or 1.30% [7] - The yield on the 10-year Japanese Treasury bond is at 1.476, up by 0.011 or 0.75% [7]
金十图示:2025年07月01日(周二)美盘市场行情一览
news flash· 2025-07-01 13:48
Group 1: Precious Metals - Spot platinum (XPTUSD) is priced at 1359.948, increasing by 8.048 or 0.60% [2] - Spot palladium (XPDUSD) is priced at 1123.684, increasing by 16.944 or 1.53% [2] - Gold (COMEX) is priced at 3359.100, increasing by 44.100 or 1.33% [2] - Silver (COMEX) is priced at 36.575, increasing by 0.245 or 0.67% [2] Group 2: Foreign Exchange - Euro to USD (EURUSD) increased by 0.13% to 1.180 [3] - GBP to USD (GBPUSD) remained unchanged at 1.373 [3] - USD to JPY (USDJPY) decreased by 0.63% to 143.114 [3] - AUD to USD (AUDUSD) decreased by 0.15% to 0.657 [3] - USD to CHF (USDCHF) decreased by 0.45% [3] Group 3: Virtual Currency - Bitcoin (BTC) is priced at 106427.170, decreasing by 719.330 or 0.67% [4] - Litecoin (LTC) is priced at 85.020, decreasing by 0.980 or 1.14% [4] - Ethereum (ETH) is priced at 2433.590, decreasing by 51.880 or 2.09% [4] - Ripple (XRP) is priced at 2.186, decreasing by 0.050 or 2.24% [4] Group 4: Treasury Bonds - The 2-year U.S. Treasury yield is at 3.740, increasing by 0.019 or 0.51% [6] - The 5-year U.S. Treasury yield is at 3.811, increasing by 0.017 or 0.45% [7] - The 10-year U.S. Treasury yield is at 4.235, increasing by 0.033 or 0.79% [7] - The 30-year U.S. Treasury yield is at 4.765, decreasing by 0.010 or 0.21% [7] - The 10-year UK Treasury yield is at 4.439, decreasing by 0.051 or 1.14% [7] - The 10-year German Treasury yield is at 2.562, decreasing by 0.035 or 1.35% [7] - The 10-year French Treasury yield is at 3.252, decreasing by 0.021 or 0.64% [7] - The 10-year Italian Treasury yield is at 3.468, decreasing by 0.025 or 0.72% [7] - The 10-year Japanese Treasury yield is at 1.394, decreasing by 0.032 or 2.24% [7]
美联储主席鲍威尔:国债市场在经历巨大压力下依然正常运作。
news flash· 2025-06-24 15:38
Core Viewpoint - The U.S. Treasury market is functioning normally despite experiencing significant pressure, as stated by Federal Reserve Chairman Jerome Powell [1] Group 1 - The Treasury market has shown resilience under stress, indicating stability in its operations [1] - Powell's remarks suggest confidence in the market's ability to handle current challenges [1]
金十图示:2025年06月23日(周一)美盘市场行情一览
news flash· 2025-06-23 13:51
Group 1: Precious Metals - Spot platinum (XPTUSD) is priced at 1287.270, increasing by 17.640 or 1.39% [2] - Spot palladium (XPDUSD) is priced at 1072.851, increasing by 28.742 or 2.75% [2] - Gold (COMEX GC) is priced at 3398.000, increasing by 13.600 or 0.40% [2] - Silver (COMEX SI) is priced at 36.145, increasing by 0.195 or 0.54% [2] Group 2: Foreign Exchange - Euro to USD (EURUSD) decreased by 0.30% to 1.149 [3] - GBP to USD (GBPUSD) decreased by 0.18% to 1.342 [3] - USD to JPY (USDJPY) increased by 0.82% to 147.298 [3] - AUD to USD (AUDUSD) decreased by 0.85% to 0.640 [3] - USD to CHF (USDCHF) decreased by 0.12% to 0.817 [3] Group 3: Cryptocurrencies - Bitcoin (BTC) is priced at 101999.990, increasing by 1036.120 or 1.03% [4] - Litecoin (LTC) is priced at 81.820, increasing by 1.610 or 2.01% [4] - Ethereum (ETH) is priced at 2289.400, increasing by 61.700 or 2.77% [4] - Ripple (XRP) is priced at 2.024, increasing by 0.007 or 0.35% [4] Group 4: Treasury Bonds - The yield on the 2-year U.S. Treasury bond is 3.887 [6] - The yield on the 5-year U.S. Treasury bond is 3.928, decreasing by 0.033 or 0.83% [7] - The yield on the 10-year U.S. Treasury bond is 4.338, decreasing by 0.037 or 0.85% [7] - The yield on the 30-year U.S. Treasury bond is 4.861, decreasing by 0.028 or 0.57% [7] - The yield on the 10-year UK Treasury bond is 4.511, decreasing by 0.030 or 0.66% [7] - The yield on the 10-year German Treasury bond is 2.502, decreasing by 0.013 or 0.52% [7] - The yield on the 10-year French Treasury bond is 3.231, decreasing by 0.014 or 0.43% [7] - The yield on the 10-year Italian Treasury bond is 3.514, decreasing by 0.013 or 0.37% [7] - The yield on the 10-year Japanese Treasury bond is 1.409, increasing by 0.016 or 1.15% [7]
金十图示:2025年06月20日(周五)亚盘市场行情
news flash· 2025-06-20 01:45
Group 1: Precious Metals - Spot platinum (XPTUSD) is priced at 1308.760, showing an increase of 2.520 or 0.19% [2] - Spot palladium (XPDUSD) is priced at 1047.500, with a rise of 10.000 or 0.96% [2] - Gold (COMEX) is trading at 3377.000, down by 10.400 or 0.31% [2] - Silver (COMEX) is at 36.320, decreasing by 0.040 or 0.11% [2] Group 2: Foreign Exchange - Euro to US Dollar (EURUSD) is at 1.152, increasing by 0.19% [4] - British Pound to US Dollar (GBPUSD) is at 1.348, up by 0.10% [4] - US Dollar to Japanese Yen (USDJPY) is at 145.327, down by 0.09% [4] - Australian Dollar to US Dollar (AUDUSD) is at 0.648, decreasing by 0.04% [4] - US Dollar to Swiss Franc (USDCHF) is at 0.816, down by 0.02% [4] Group 3: Cryptocurrencies - Bitcoin (BTC) is priced at 104524.000, down by 140.230 or 0.13% [5] - Litecoin (LTC) is at 84.890, decreasing by 0.220 or 0.26% [5] - Ethereum (ETH) is priced at 2523.990, increasing by 2.870 or 0.11% [5] - Ripple (XRP) is at 2.162, down by 0.003 or 0.15% [5] Group 4: Treasury Bonds - The yield on the 2-year US Treasury bond is at 3.929 [7] - The yield on the 5-year US Treasury bond is at 3.979, down by 0.010 or 0.25% [8] - The yield on the 10-year US Treasury bond is at 4.394, increasing by 0.035 or 0.80% [8] - The yield on the 30-year US Treasury bond is at 4.898, up by 0.002 or 0.04% [8] - The yield on the 10-year UK Treasury bond is at 4.535, increasing by 0.002 or 0.04% [8] - The yield on the 10-year German Treasury bond is at 2.518, up by 0.020 or 0.80% [8] - The yield on the 10-year French Treasury bond is at 3.272, increasing by 0.057 or 1.77% [8] - The yield on the 10-year Italian Treasury bond is at 3.547, up by 0.070 or 2.01% [8] - The yield on the 10-year Japanese Treasury bond remains unchanged at 1.419 [8]
金十图示:2025年06月17日(周二)美盘市场行情一览
news flash· 2025-06-17 13:48
Group 1: Precious Metals - Spot platinum (XPTUSD) is priced at 1254.750, showing an increase of 11.930 or 0.96% [2] - Spot palladium (XPDUSD) is at 1042.850, up by 20.300 or 1.99% [2] - Gold (COMEX) is trading at 3414.400, with a rise of 10.100 or 0.30% [2] - Silver (COMEX) is priced at 37.140, increasing by 0.770 or 2.12% [2] Group 2: Foreign Exchange Rates - Euro to USD (EURUSD) is at 1.156, up by 0.04% [3] - GBP to USD (GBPUSD) is at 1.355, down by 0.19% [3] - USD to JPY (USDJPY) is at 144.828, increasing by 0.04% [3] - AUD to USD (AUDUSD) is at 0.654, up by 0.18% [3] - USD to CHF (USDCHF) shows an increase of 0.08% [3] Group 3: Cryptocurrency - Bitcoin (BTC) is priced at 105315.360, down by 1479.170 or 1.39% [4] - Litecoin (LTC) is at 85.330, decreasing by 1.340 or 1.55% [4] - Ethereum (ETH) is trading at 2549.510, up by 5.200 or 0.20% [4] - Ripple (XRP) is priced at 2.213, down by 0.025 or 1.13% [4] Group 4: Treasury Bonds - The yield on the 2-year U.S. Treasury bond is at 3.960 [6] - The yield on the 5-year U.S. Treasury bond is 4.015, down by 0.021 or 0.52% [7] - The yield on the 10-year U.S. Treasury bond is 4.425, decreasing by 0.025 or 0.56% [7] - The yield on the 30-year U.S. Treasury bond is 4.932, down by 0.024 or 0.48% [7] - The yield on the 10-year UK Treasury bond is 4.537, up by 0.003 or 0.07% [7] - The yield on the 10-year German Treasury bond is 2.525, down by 0.005 or 0.20% [7] - The yield on the 10-year French Treasury bond is 3.239, increasing by 0.004 or 0.12% [7] - The yield on the 10-year Italian Treasury bond is 3.501, up by 0.012 or 0.34% [7] - The yield on the 10-year Japanese Treasury bond is 1.482, increasing by 0.024 or 1.65% [7]