Group 1: Report's Industry Investment Rating - No relevant content Group 2: Report's Core View - For the TL2512 variety, the short - term, medium - term, and overall view is "oscillation", with an intraday view of "oscillation on the weak side". The core logic is that short - term interest rate cut expectations have declined, while medium - and long - term easing expectations still exist [1]. - For varieties TL, T, TF, TS, the intraday view is "oscillation on the weak side", the medium - term view is "oscillation", and the overall reference view is "oscillation". Due to the persistent problem of insufficient effective demand in the macro - aspect, a moderately loose monetary environment is needed in the long - term to stabilize the demand side, which strongly supports bond futures. However, the pressure to achieve the annual economic growth target is not high, so the possibility of an overall interest rate cut in the short - term is low, and the upward momentum of bond futures is limited. In general, bond futures will mainly oscillate and consolidate in the short - term [5]. Group 3: Summary by Related Catalogs Variety View Reference - Financial Futures Index Sector - For the TL2512 variety, short - term is "oscillation", medium - term is "oscillation", intraday is "oscillation on the weak side", overall view is "oscillation", and the core logic is that short - term interest rate cut expectations have declined, while medium - and long - term easing expectations still exist [1]. Main Variety Price and Market Driving Logic - Financial Futures Index Sector - For varieties TL, T, TF, TS, intraday view is "oscillation on the weak side", medium - term view is "oscillation", overall reference view is "oscillation". Bond futures oscillated and consolidated yesterday. Due to insufficient effective demand in the macro - aspect, a moderately loose monetary environment is needed in the long - term to support bond futures. But the pressure to achieve the annual economic growth target is not high, so short - term overall interest rate cut possibility is low, and bond futures' upward momentum is limited. In the short - term, bond futures will mainly oscillate and consolidate [5].

国债期货日报 2025年6月 10日 消息博弈 观点：部分止盈，持仓观望 南华研究院 高翔（Z0016413） 投资咨询业务资格：证监许可【2011】1290号 盘面点评： 国债期货高开低走，午盘拉升翻红后窄幅震荡，全天小幅收涨。公开市场共4545亿逆回购到期，央行新 做1986亿，当日净回笼1738亿。 日内消息： 1.财政部社会保障司负责人葛志昊6月10日在国新办新闻发布会上表示，在"一老一小"服务方面，财政部 积极配合有关部门完善养老育幼服务体系，推进社区支持的居家养老服务，加强失能老年人照护服务，促 进普惠托育服务高质量发展，抓紧建立实施育儿补贴制度，有关工作正在加快推进，确保更好满足人民群 众对"一老一小"方面的服务需求。 行情研判： 资金依旧不贵，公开市场净回笼2559亿元，但早盘银行间匿名隔夜依旧有大量资金在1.35%附近， DR001加权1.36%较周一进一步走低，但非银流动性小幅收敛，交易所资金价格有所上行，但利率水平不 高。 T主力：净基差与基差 source： wind,南华研究 元 T净基差：主连 T基差：主连 10/31 12/31 02/28 04/30 -0.2 0 0.2 0. ...