智通财经APP获悉，日本首相高市早苗即将推出一项由额外预算资助的经济刺激方案，规模较前任首相 石破茂一年前公布的支出计划高出约27%，这凸显了她推行扩张性财政政策的决心。 根据文件，该刺激方案预计将结合减税与特别账户支出，使得一般账户支出达17.7万亿日元(约合1120 亿美元)。这一拟议的追加预算规模超过了石破茂去年提出的13.9万亿日元。知情人士表示，鉴于追加 预算规模更大，新增国债发行量也将超过去年。此外，文件显示，包括部分已列入预算的项目在内，该 刺激方案总价值达21.3万日元。 在对债务水平上升的担忧下，日本国债收益率走高。截至发稿，日本20年期国债收益率涨近5个基点， 报2.856%;30年期与40年期国债均涨超4个基点，分别报3.382%和3.749%。日本5年期和10年期国债收益 率在周四早些时候则升至2008年以来的最高水平。与此同时，日元进一步走软，美元兑日元汇率升至 157上方。 | ● 日本15年期国债 | 2.776 2.728 2.795 2.728 +0.048 | +1.76% | | --- | --- | --- | | ● 日本20年期国债 | 2.856 2.808 2 ...

来源：恒力期货 海南封关运作准备就绪 再有一个月，海南自贸港全岛将正式封关运作。11月18日，海南自贸港10个"二线口岸"同步展开合成演 练。"封关"到底怎么封？将对海南岛内外产生怎样的影响？封关倒计时30天，各项准备工作进展如何？ 首先，封关并非封岛。它是一项自由化便利化的政策制度，是要将海南岛全岛建成一个海关监管特殊区 域，基本特征是"'一线'放开、'二线'管住、岛内自由"。 （来源：恒力期货） 海关总署11月18日举行记者通报会，有关负责人介绍，目前，海南自由贸易港封关运作各项准备工作已 基本就绪。 从11月18日起，海南自贸港"二线口岸"启动了7x24小时热运行。 （来源：央视新闻） 市场信心不足 日本国债遭投资者抛售 当地时间19日，日本新发10年期国债收益率升至1.76%，为2008年6月以来新高。 由于市场担忧日本首相高市早苗提出的扩张性财政政策会导致财政状况进一步恶化，日本国债遭投资者 抛售，长期利率持续上升。 （来源：环球网） "一线"放开，就是将海南自贸港与我国关境外其他国家和地区之间作为"一线"，实施一系列自由便利进 出举措；"二线"管住，就是将海南自贸港与内地之间作为"二线"，针对"一 ...

近期，日本首相高市早苗发表有关台湾问题和历史认知上的错误言论，引发多方质疑和担忧，给日本经 济也带来诸多负面影响。 编辑 陈艳婷 日本东京股市两大股指19日继续承压下跌。日经225种股票平均价格指数收盘下跌0.34%，东京证券交 易所股票价格指数下跌0.17%。 据央视新闻消息，总台报道员当地时间11月19日获悉，日元对美元汇率跌破1美元兑换156日元。 （总台报道员 柏春洋） 当地时间19日，日本新发10年期国债收益率升至1.76%，为2008年6月以来新高。此外，在日本财务省 19日实施的20年期国债招标中，最高中标收益率达到2.833%，高于上一次的2.684%。这是自1999年7月 以来，时隔约26年的高水平。由于市场担忧日本首相高市早苗提出的扩张性财政政策会导致财政状况进 一步恶化，日本国债遭投资者抛售，长期利率持续上升。 ...

由于市场担忧日本首相高市早苗提出的扩张性财政政策会导致财政状况进一步恶化，日本国债遭投资者 抛售，长期利率持续上升。 此前一天，日本股债汇遭"三杀"。日本东京股市日经225指数18日收于48702.98点，大跌3.22%，跌幅为 今年4月初以来最大。同一天，日本国债也遭抛售，日元汇率下挫。 △日本央行总部（资料图） 当地时间19日，日本新发10年期国债收益率升至1.76%，为2008年6月以来新高。 来源：央视新闻客户端 ...

此前一天，日本股债汇遭"三杀"。日本东京股市日经225指数18日收于48702.98点，大跌3.22%，跌幅为 今年4月初以来最大。同一天，日本国债也遭抛售，日元汇率下挫。（总台记者 刘耀鸿） 编辑 辛婧 据央视新闻消息，当地时间19日，日本新发10年期国债收益率升至1.76%，为2008年6月以来新高。 由于市场担忧日本首相高市早苗提出的扩张性财政政策会导致财政状况进一步恶化，日本国债遭投资者 抛售，长期利率持续上升。 ...

Core Viewpoint - Japan's Prime Minister Sanna Takashi plans to initiate a new growth strategy through the first economic stimulus plan, focusing on investments in 17 key sectors including semiconductors, critical minerals, and defense industries [1] Group 1: Key Investment Areas - The economic plan emphasizes investments in sectors deemed crucial for Japan's economic growth, including semiconductors, artificial intelligence, shipbuilding, defense industries, and critical minerals [2] - Additional areas covered by the plan include supply chain strengthening, nurturing startups, financial growth promotion, and helping companies increase wages [3] Group 2: Fiscal and Monetary Policy Coordination - Takashi has indicated a shift towards more expansionary fiscal policies, aiming for wage growth that exceeds inflation rates to address high consumer prices [4] - The expert group suggests that the government should enhance the financial foundation of international cooperation banks and Japan Trade Insurance to ensure the implementation of investment plans related to the Japan-U.S. tariff agreement [3][4] - The scale and nature of the economic plan, along with the supplementary budget for funding, will serve as indicators of Takashi's commitment to fulfilling campaign promises without alarming investors [4] Group 3: Economic Outlook and Concerns - Economists expect the scale of the new economic plan to exceed last year's, but excessive spending may raise concerns in the bond market, potentially increasing long-term yields and triggering strong inflation [5]

Group 1 - The core viewpoint of the article is that Japanese Prime Minister Sanna Takashi aims to initiate a new growth strategy through a stimulus plan, focusing on "crisis management investment and growth investment" to drive strong growth [1] - An expert group has been tasked with formulating a new growth strategy for Japan by next summer, emphasizing the importance of investing in 17 key sectors identified by Takashi, including semiconductors, artificial intelligence, shipbuilding, defense industry, and critical minerals [1] - Takashi signals a shift towards a more expansionary fiscal policy, stating that Japan has only made half the journey towards stable inflation supported by wage growth, and expresses a cautious approach as the Bank of Japan gradually raises interest rates [1]

Group 1 - The IMF projects that the U.S. government debt will exceed 143.4% of GDP by 2030, increasing by over 20 percentage points from current levels [1] - U.S. Treasury Secretary Yellen praised Japan's expansionary fiscal policy during a meeting with Japan's Finance Minister, although no discussions on monetary policy details took place [1] - The negotiations between South Korea and the U.S. regarding a $350 billion investment project are currently stalled, with key issues such as investment methods, amounts, and timelines still under dispute [2] Group 2 - Argentina's ruling coalition led by President Milei won the midterm elections, alleviating investor concerns about potential stagnation in economic reforms [2] - The German business climate index rose from 87.7 to 88.4 in October, indicating improvements in manufacturing, services, and trade, despite a decline in business satisfaction for the third consecutive month [2] Group 3 - The Dow Jones Industrial Average increased by 0.71% to 47,544.59 points, while the S&P 500 rose by 1.23% to 6,875.16 points, and the Nasdaq Composite climbed by 1.86% to 23,637.46 points, all reaching new historical highs [3] - COMEX gold futures fell by 3.40% to $3,997.00 per ounce, and silver futures dropped by 3.61% to $46.83 per ounce [4] Group 4 - U.S. oil futures rose by 0.08% to $61.55 per barrel, while Brent crude futures decreased by 0.09% to $65.14 per barrel [5] - The 2-year U.S. Treasury yield fell by 0.64 basis points to 3.482%, with similar declines observed across other maturities [5] Group 5 - The U.S. dollar index decreased by 0.12% to 98.82, while the euro and British pound appreciated against the dollar [6]

Core Viewpoint - The appointment of Japan's first female Finance Minister, Katsuyuki Mayu, marks a significant shift in the country's political landscape, raising market concerns about future economic policies and the potential impact on the yen's value [1][3][5]. Group 1: Market Reactions - Following the announcement of Katsuyuki Mayu's appointment, the yen fell to a low of 150.50 against the dollar before recovering slightly above 151, indicating market uncertainty regarding the new government's economic direction [1]. - The market's initial reaction suggested expectations of increased government spending and a cautious approach to early interest rate hikes by the Bank of Japan [5][13]. Group 2: Political Significance - The appointment of both Katsuyuki Mayu and Prime Minister Sanna Takashi represents a breaking of significant "glass ceilings" in Japanese politics, with both women holding key leadership roles [3][15]. - This political shift is seen as a potential reformation of Japan's political culture, traditionally dominated by men, with the new leadership symbolizing a progressive change [15]. Group 3: Economic Policy Implications - Katsuyuki Mayu is expected to advocate for expansionary fiscal policies, which may lead to increased government spending, but could also result in further volatility in the yen's exchange rate [5][14]. - The current economic environment presents challenges, including rising inflation and a weakening yen, complicating the fiscal and monetary policy landscape compared to the era of Abenomics [14][16]. Group 4: Future Challenges - The coordination between fiscal policy under Katsuyuki Mayu and monetary policy from the Bank of Japan will be crucial in addressing rising living costs and maintaining economic stability [16][17]. - The upcoming months will be critical as the government navigates pressures from both domestic economic conditions and external influences, particularly from Washington regarding interest rate policies [16][17].

Group 1 - The Japanese yen continues to weaken, being the worst performer among G10 currencies, with the USD/JPY exchange rate surpassing 153, reflecting a cumulative depreciation of approximately 1.5% this week, more than double the decline of other G10 currencies [1] - Newly appointed Prime Minister Sanna Takashi is expected to implement a "strategic and responsible" expansionary fiscal policy, potentially leading to "Abenomics 2.0" to revitalize Japan's sluggish economic growth [3] - The anticipated spending plan under Takashi is expected to exceed the previous 13.9 trillion yen proposal by former Prime Minister Shigeru Ishiba, indicating a significant increase in fiscal stimulus [3] Group 2 - Takashi's stance on fiscal stimulus has led to new highs in the Japanese stock market, although it exerts pressure on the yen and Japanese government bonds, which saw a slight increase as no significant bond issuance was mentioned [3] - The new Finance Minister Satsuki Katayama hinted at the possibility of issuing additional government bonds if existing resources are insufficient to fund Takashi's economic plans, indicating a reliance on higher-than-expected tax revenues and unused budget funds [4] - Market participants are closely monitoring the monetary policy outlook for both Japan and the US, with upcoming discussions on interest rates by both central banks, particularly focusing on the US CPI data and the Bank of Japan's policy meeting [4]