（编辑 楚丽君） 证券日报网讯 1月9日，大地海洋在互动平台回答投资者提问时表示，公司股价波动受宏观经济环境、 行业政策调整、资金偏好等多种因素的影响。公司管理层始终坚信，扎实做好主营业务、持续提升公司 的内在价值，产业链布局价值释放，是应对市场波动、实现长远发展的根本。公司将继续专注提升经营 效率与核心竞争力，努力回报广大投资者的信任。 ...

华尔街主要投行对2026年英镑汇率走势的预测展现出一种谨慎乐观的共识：大多数机构预计英镑兑美元将走强或至少保持稳定，核心逻辑在于美 元普遍看跌的预期。以摩根士丹利、瑞银和RBC为代表的投行持鲜明看涨态度，预测英镑兑美元有望在2026年达到1.43至1.51的区间，甚至触及自 2016年英国脱欧公投以来的最高点。这些乐观预期主要基于美联储持续的降息周期将削弱美元的利差优势，同时英国央行预计将采取更为缓慢和 谨慎的降息步伐，从而使英镑更具吸引力。尽管存在对英国国内财政状况的担忧，但部分投行认为市场反应过度，提供了逢低买入的机会。 然而，市场并非铁板一块，高盛等机构持中性态度，认为英镑上涨动能可能在1.35-1.36附近停滞。高盛分析师在周二的一份报告中指出，随着英 国劳动力市场疲软，他们预计未来几个月英国整体通胀率将进一步下降。他们表示："因此，我们预计英国央行将在2026年三次降息，最终利率将 降至3%，低于目前的定价水平。" 智通财经APP获悉，周二，英镑兑欧元触及两个月来最高水平，兑美元汇率在假期交易清淡的情况下保持稳定，尽管当日并无太多消息足以大幅 冲击英镑走势。英镑兑欧元走势略显活跃，一度上涨至1欧元兑 ...

12月22日，2025年全球金属市场在剧烈波动中展现了代际级别的投资回报，GTC泽汇资本表示，白银以 超过127%的涨幅傲视群雄，铂金紧随其后增长120%，而黄金则在多年牛市的基础上稳步上升65%，铜 也录得了35%的显著收益。GTC泽汇资本认为，这一系列数据反映了宏观经济环境对避险及工业金属的 强力支撑。根据最新的金属市场调研，散户投资者目前对白银的追捧热度依然高涨，而行业专家则开始 预警铂金在2026年可能展现出更强的爆发力。在针对352名投资者的调查中，51%的受访者预计白银将 蝉联涨幅冠军，29%的人看好黄金，另有11%和10%的人分别看好铜与铂金的表现。 12月22日，2025年全球金属市场在剧烈波动中展现了代际级别的投资回报，GTC泽汇资本表示，白银以 超过127%的涨幅傲视群雄，铂金紧随其后增长120%，而黄金则在多年牛市的基础上稳步上升65%，铜 也录得了35%的显著收益。GTC泽汇资本认为，这一系列数据反映了宏观经济环境对避险及工业金属的 强力支撑。根据最新的金属市场调研，散户投资者目前对白银的追捧热度依然高涨，而行业专家则开始 预警铂金在2026年可能展现出更强的爆发力。在针对352名投资 ...

US sanctions, China, crypto ban. Photo by BeInCrypto China's yuan climbed to a fresh 14-month high against the dollar on Monday, adding another layer of complexity to an already turbulent macro environment for risk assets, including cryptocurrencies. The world's three largest central banks are now moving in distinctly different directions. The Federal Reserve just delivered a hawkish rate cut, the Bank of Japan is poised to raise rates this week, and China's PBOC is navigating yuan strength amid a slowing ...

今日周四(12月11日)欧盘时段，白银期货目前交投于14207一线上方，今日开盘于14300元/千克，截至发 稿，白银期货暂报14410元/千克，上涨2.51%，最高触及14665元/千克，最低下探14068元/千克，目前来 看，白银期货盘内短线偏向震荡走势。 【要闻速递】 美联储如市场一致预期，将政策利率再度下调25个基点至3.50%-3.75%区间，为今年9月以来的第三次降 息。尽管降息本身已经被市场充分消化，但政策声明与未来利率路径的指引却明显偏向温和，使得美元 的利差优势进一步下降。 另外地缘方面，俄罗斯外长拉夫罗夫表示，若不根除乌克兰危机根源，问题无法平稳解决，并警告已做 好应对欧洲派兵或资产没收等敌对行为的准备。美国总统特朗普则公开批评泽连斯基"必须现实一点"， 并唿吁乌克兰尽快举行大选、结束战争。地缘不确定性继续为贵金属提供潜在支撑。 其次荷兰国际集团称："展望2026年，我们预计白银价格将继续受到工业需求弹性、供应增长受限以及 更有利的宏观经济环境的良好支撑。" 【最新白银期货行情解析】 沪银本周看涨，依旧是绝对的强势，继续看上涨空间，下方支撑在14200附近，沪银看涨情绪依旧强 劲。沪银溢价 ...

富途证券首席分析师谭智乐表示，尽管面临利率变动、美联储减息周期及HIBOR上升等挑战，对港股 2026年的走势仍然持乐观态度。展望明年，受益于估值的修正及科技行业增长带动下，预测恒生指数 2026年目标为31000点；若宏观经济环境改善并且整体企业盈利收持续增长，乐观情境下目标有望可达 34000点。 2025年港股，尤其恒生指数及恒生科技指数表现优秀，跑赢多个大型国际市场指标，交投量显著增加， 反映大量资金流入，预期明年市况继续保持稳健增长。 谭智乐指，今年香港IPO市场明显回暖，多只大型新股来港引起热潮，带动证券市场表现。今年港股活 跃，恒指显著上升，大宗商品黄金及白银亦表现强势。 ...

Core Viewpoint - In November, the U.S. private sector experienced a surprising decline of 32,000 jobs, contrasting sharply with previous expectations of a 20,000 job increase [1] Employment Data Summary - The revised data for October indicates an increase of 47,000 jobs in the private sector [1] - Employment in the goods-producing sector decreased by 19,000 jobs, while the service sector saw a reduction of 13,000 jobs in November [1] - Small private enterprises lost 120,000 jobs, whereas medium and large enterprises added 51,000 and 39,000 jobs, respectively [1] - The Northeast and South regions of the U.S. saw declines of 100,000 and 43,000 jobs in the private sector, while the Midwest and West regions experienced increases of 45,000 and 67,000 jobs, respectively [1] Economic Trends - The data indicates a stagnation in job creation during the second half of the year, with a downward trend in wage growth [1] - Recruitment activities in manufacturing, professional and business services, information, and construction sectors were particularly weak in November [1] - The chief economist of the company noted that employers are facing cautious consumer sentiment and an uncertain macroeconomic environment, leading to fluctuations in the hiring market [1]

Group 1 - The cryptocurrency market experienced a significant downturn by the end of 2025, with Bitcoin crashing below critical price levels, leading to a collective decline across various cryptocurrencies [1][3] - Bitcoin's price fell sharply to below $87,000, marking a new low since April, with an intraday drop of up to 8% [3] - Ethereum also suffered, dropping below $2,800 with an intraday decline exceeding 6%, while other major cryptocurrencies like XRP and BNB faced similar downturns [5] Group 2 - Over 270,000 individuals faced liquidation in a single day, with total losses approaching $1 billion, highlighting the extreme volatility and panic in the market [5][7] - The sell-off was a continuation of a trend that began after Bitcoin reached an all-time high of $126,250 in early October, resulting in a cumulative decline of over 30% within a month and a half [7] - The turmoil in the cryptocurrency market has also impacted the stock market, with major U.S. indices declining and cryptocurrency-related stocks being particularly hard hit [9] Group 3 - The primary catalyst for the recent cryptocurrency crash is the cooling expectations for a Federal Reserve interest rate cut, with the probability of a December rate cut falling below 50% [12] - The tightening of dollar liquidity expectations has put pressure on non-yielding assets like Bitcoin, which Morgan Stanley noted would be directly affected if the Fed maintains its current stance [12] - The inherent "gray" nature of cryptocurrencies, which have been associated with illicit activities since their inception, has contributed to their volatility and market perception [10][14] Group 4 - The contrasting approaches of the U.S. and China towards cryptocurrencies reflect differing national interests, with the U.S. shifting from skepticism to a more accommodating stance to address its national debt issues [21][23] - The U.S. has integrated cryptocurrency into its financial system by requiring stablecoin issuers to back their assets with U.S. Treasury bonds, effectively linking speculative investments to government debt [23][25] - In contrast, China has taken a firm stance against cryptocurrencies, declaring them illegal and implementing strict measures to curb their use, emphasizing the protection of financial stability and investor safety [27][29]

周一（12月1日）亚洲时段，现货黄金继续保持涨势，一度刷新高点至4230.41美元/盎司。这种连续上 涨的格局并非偶然，而是受到了宏观经济环境和货币政策预期的双重支撑。投资者们将黄金视为对抗不 确定性的盾牌，尤其是在经济增速放缓的预期下，黄金的不孳息特性变得格外吸引人。周一的11月ISM 制造业PMI、周三的ISM服务业PMI、周四的周度失业救济申请，以及周五的10月核心PCE和密歇根大 学12月初步消费者信心调查，都将成为焦点。这些数据如果继续显示经济弱势，将进一步巩固降息预 期，推动金价向上突破。美元疲软走势放大黄金的吸引力与黄金上涨相呼应的是美元的持续走弱。上周 美元指数下跌0.69%，创下7月21日以来最大单周跌幅。这种势头直接源于市场对美联储降息的押注， 因为降息通常会削弱美元的吸引力。 地缘政治局势增添金价的不确定变量除了宏观经济因素，地缘政治风险也为黄金市场注入了额外的不确 定性。短期内，美乌代表团围绕俄乌"和平计划"展开的新一轮会谈备受关注。这次会谈于11月30日在美 国佛罗里达州举行，美方包括国务卿鲁比奥、中东问题特使威特科夫和总统特朗普的女婿库什纳，乌方 则由国家安全与国防委员会秘书乌梅罗 ...

Core Insights - CME Group experienced a trading halt across its platforms due to a cooling failure at a third-party data center, impacting key commodity prices like gold, silver, and copper [2][3] - Prior to the outage, COMEX silver futures reached a historic high of $54.6 per ounce, while COMEX gold futures surged to $4227 per ounce [2] - The outage lasted over 8 hours, leading to a significant loss of liquidity in the futures market [3] Group 1: Impact of the Outage - The cooling issue at CyrusOne data center prevented global traders from operating through the Globex system, exposing institutions relying on this platform for hedging and speculation to unmanageable risk [3] - The immediate consequence of the outage was a drastic reduction in market liquidity, with OTC spreads widening significantly [3] - The outage affected not only commodities but also forex, U.S. Treasury, and stock index futures, with CME's EBS forex platform also pausing trading [3] Group 2: Market Reactions and Expectations - Analysts noted that a significant portion of the recent rise in gold prices was driven by investor positioning for an anticipated low interest rate environment, with an 85% probability of a Fed rate cut in December according to CME's FedWatch tool [3] - The macroeconomic environment continues to support precious metal prices, as the dollar is experiencing its worst week since late July, enhancing the appeal of dollar-denominated assets like gold [3] - Market participants are currently limited to off-exchange operations, which may increase price volatility risks until trading resumes [4]