Report Summary 1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - This week, influenced by multiple factors such as policy issuance, event announcements, and international situation changes, the market saw increased trading volume and rising indices. The base spreads of various varieties also showed an upward trend, and the term reversal strategy realized partial profits. The model predicts the movement directions of the base spreads of IH, IF, IC, and IM next week [2][3] 3. Summary by Related Contents Market News and Impact - Six ministries jointly issued the "Guiding Opinions on Financial Support for Boosting and Expanding Consumption", covering five aspects of specific measures. The National New Office announced the September Victory in the War of Resistance against Japanese Aggression commemorative activities and parade plan, stimulating market bullish sentiment. Guotai Junan International was approved to provide virtual asset trading services such as cryptocurrencies, driving up the stock prices of Hong Kong and A-share brokerage and financial technology sectors, but the hype quickly cooled down [2] - The Middle - East situation eased with a cease - fire between Israel and Iran, and the expectation of a US interest rate cut increased, promoting the rise of global stock markets and risk assets [2] Market Performance - The daily average trading volume was about 1.5 trillion, and the margin trading balance increased by over 20 billion. The broad - based indices showed three consecutive positive lines followed by continuous adjustments. The Shanghai Composite Index rose nearly 2% this week. The gains of the Shanghai 50 and CSI 300 narrowed to less than 2% this week, while the CSI 500 and CSI 1000 rose about 4% [2] Base Spread Situation - As the index rose this week, the base spreads of various varieties increased, and the historical quantiles rose significantly. The annualized discounts of IC and IM for the current quarter narrowed to around 7% and 10% respectively, with the term structure still higher in the near - month contracts. The far - near inter - term spreads also increased significantly, and the term reversal strategy realized partial profits [2] Forecast for Next Week - The model predicts that the base spreads of IH, IF, and IM will strengthen next week, while the base spread of IC will weaken [3]