每经AI快讯，8月27日，央行公开市场开展3799亿元7天期逆回购操作，操作利率持平于1.40%。 ...

（原标题：今日看点｜国新办将举行介绍中国服务贸易发展和2025年服贸会筹备工作进展情况新闻发布 会） 8月26日重点关注的财经要闻与资本市场大事： 1、国新办将举行介绍中国服务贸易发展和2025年服贸会筹备工作进展情况新闻发布会 8月27日上午10时，国新办将举行新闻发布会，商务部副部长盛秋平、北京市副市长司马红介绍中国服 务贸易发展和2025年服贸会筹备工作进展情况，并答记者问。 2、国台办将举行例行新闻发布会，发言人就近期两岸热点问题回答记者提问 8月27日上午10时，国台办将举行例行新闻发布会，发言人就近期两岸热点问题回答记者提问。 3、中国贸促会将召开8月例行新闻发布会 5、8.69亿元市值限售股今日解禁 8月27日，共有4家公司限售股解禁，合计解禁量为3832.96万股，按最新收盘价计算，合计解禁市值为 8.69亿元。 从解禁量来看，1家公司解禁股数超千万股。源飞宠物、长鸿高科、华测导航解禁量居前，解禁股数分 别为3090.51万股、358.2万股、357.25万股。从解禁市值来看，1家公司解禁股数超亿元。源飞宠物、华 测导航、长鸿高科解禁市值居前，解禁市值分别为6.78亿元、1.33亿元、5659 ...

投资咨询业务资格:证监详可【2012】31号 宏观金融数据日报 | | 项目 | 当月合约 | 下月合约 | 当季合约 | 下季合约 | | --- | --- | --- | --- | --- | --- | | | IF升贴水 | -1. 76% | -0.37% | 0.83% | 1.05% | | | IH升贴水 | -1. 05% | -0.72% | -0.37% | -0.47% | | | IC升贴水 | 8.88% | 7.44% | 7.55% | 7.18% | | 情 | IM升贴水 | 12. 79% | 10.38% | 9.08% | 8.72% | | ਮ 貼 水 况 | | | | | | 注. 括号里的数值为年化计算后的升贴水率(标绿为升水,标红为贴水）。 颈据来源:wind 本报告中的信息均源于公开可获得的资料,国贸期货力求准确可靠,但不对上述信息的准确 性及完整性做任何保证。本报告不构成个人投资建议,也未针对个别投资者特殊的投资目标 免责 、财务状况或需要,投资者需自行判断本报告中的任何意见或建议是否符合其特定状况,据 此投资,责任自负。本报告仅向特定客户推送,未经 ...

人民财讯8月26日电，2025年8月26日中国人民银行以固定利率、数量招标方式开展了4058亿元7天期逆 回购操作。操作利率1.40%，与此前持平。 ...

研究报告 股指周报 上周 A 股市场评述 摘要： 【行情复盘】 8 月 22 日，A 股延续强势表现，沪指一举突破 3800 点，再创 十年新高。截止收盘，沪指涨 1.45%，收报 3825.76 点；深证成 指涨 2.07%，收报 12166.06 点；创业板指涨 3.36%，收报 2682.55 点；科创 50 指数涨 8.59%，收报 1247.86 点。行业板块涨多跌少， 半导体、电子化学品、证券、教育、计算机设备、软件开发板块 涨幅居前，燃气、化肥行业、石油行业、银行板块跌幅居前。沪 深两市成交额达到 25467 亿，较昨日放量 1227 亿。 【债券】 上周，国债期货集体上涨。具体如下： | | 主力合约名称 | 上周涨跌幅(%) | 上周收盘价(元) | | --- | --- | --- | --- | | 30 | 年期国债期货 | -1.05 | 115.980 | | 10 | 年期国债期货 | -0.52 | 107.660 | | 5 | 年期国债期货 | -0.28 | 105.370 | | 2 | 年期国债期货 | -0.06 | 102.318 | | 华龙期货投资咨询部 | ...

1. 公开市场操作 央行公告称，8月20日以固定利率、数量招标方式开展了6160亿元7天期逆回购操作，操作利率1.40%，投标量6160亿元，中标量6160亿元。Wind数据显 示，当日1185亿元逆回购到期，据此计算，单日净投放4975亿元。 （*数据来源：Wind-央行动态PBOC） 2. 资金面 月度缴税渐远，央行逆回购持续大额投放呵护，银行间资金面早盘仍延续收敛态势，不过午后资金好转，流动性趋于均衡。CNEX资金情绪指数全市场一 度冲高至67，尾盘回落至48。DR001加权利率上行不足1bp在1.47%附近，DR007加权利率上行逾2bp在1.57%附近。 海外方面，最新美国隔夜融资担保利率为4.34%。 （IMM） // 债市综述 // 3. 同业存单 全国和主要股份制银行一年期同业存单最新成交在1.67%位置，较上日变化不大。 （*数据来源：Wind-同业存单-发行结果） 4. 银行间主要利率债收益率 多数上行 （*数据来源：Wind-利差分析） （*数据来源：Wind-国际货币资金情绪指数、资金综合屏） | （*数据来源：Wind-成交统计BMW） | | --- | 5. 近期城投债（AAA） ...

Group 1: Market Data and Central Bank Operations - DROO1 closed at 1.47 with a 2.26 bp increase, DR007 at 1.55 with a 3.08 bp increase, GC001 at 1.70 with a 46.50 bp increase, and GC007 at 1.60 with a 10.50 bp increase. SHBOR 3M was at 1.55 with a 0.10 bp increase, LPR 5 - year at 3.50 with no change. 1 - year, 5 - year, and 10 - year Chinese treasury bonds were at 1.39 (0.44 bp increase), 1.63 (-0.56 bp decrease), and 1.77 (-1.82 bp decrease) respectively, while 10 - year US treasury bonds were at 4.34 with a 1.00 bp increase [4] - The central bank conducted 580.3 billion yuan of 7 - day reverse repurchase operations, with 114.6 billion yuan of reverse repurchases maturing, resulting in a net injection of 465.7 billion yuan [4] - The central bank released its Q2 2025 monetary policy report. Overseas, US tariff policies increase global economic recovery uncertainty and some economies have sticky inflation. Domestically, with measures to regulate low - price competition and boost consumption, the central bank believes there are more positive factors for a moderate recovery in price levels and expects an improvement. Monetary policy continues the tone of the Politburo meeting at the end of July, emphasizing the implementation of a moderately loose monetary policy [4] Group 2: Stock Index Performance - The CSI 300, SSE 50, CSI 500, and CSI 1000 closed at 4223 (-0.38%), 2812 (-0.93%), 6655.3 (-0.19%), and 7242.8 (0.07%) respectively. The trading volume of the Shanghai and Shenzhen stock markets was 2.5884 trillion yuan, a decrease of 175.8 billion yuan from the previous day. Industry sectors showed more gains than losses, with sectors like automobile services, brewing, real - estate services leading the gains, and insurance, electronic chemicals, shipbuilding, and securities leading the losses [5] - Yesterday, stock indices rose first and then fell. Currently, the valuation still provides support. Taking the CSI 300 as an example, although the current P/E ratio has risen to 15.9 (at the 83% historical percentile), the equity risk premium (ERP) remains at a relatively high historical level (about the 68% percentile). This means that from the perspective of the relative cost - effectiveness of stock - bond investment, stocks can still provide higher potential return compensation compared to risk - free assets. With the liquidity support from Huijin, valuation factors are expected to continue to play a supporting role. At the macro level, attention should be paid to the Fed's September interest - rate cut expectation and its potential impact on domestic interest - rate cut space [6] Group 3: Futures Contract Data - For IF, the current - month, next - month, current - quarter, and next - quarter contracts had an annualized premium rate of 2.00%, 1.75%, 1.75%, and 1.84% respectively; for IH, -1.25%, -0.70%, -0.66%, and -0.52% respectively; for IC, 9.79%, 9.18%, 8.65%, and 8.12% respectively; for IM, 10.64%, 9.93%, 9.39%, and 9.26% respectively [7] - The trading volume and open interest of IF, IH, IC, and IM contracts all decreased. IF trading volume decreased by 27.3 to 109,269, and open interest decreased by 5.6 to 258,257; IH trading volume decreased by 15.8 to 62,436, and open interest decreased by 3.3 to 103,724; IC trading volume decreased by 22.3 to 102,352, and open interest decreased by 2.3 to 220,750; IM trading volume decreased by 19.4 to 236,188, and open interest decreased by 4.0 to 376,950 [5]

Core Viewpoint - The People's Bank of China conducted a 7-day reverse repurchase operation amounting to 616 billion yuan at an interest rate of 1.40%, maintaining consistency with previous operations [1] Group 1 - On August 20, the People's Bank of China executed a reverse repurchase operation totaling 616 billion yuan [1] - The interest rate for the operation was set at 1.40%, unchanged from prior rates [1] - A total of 118.5 billion yuan in reverse repos matured on the same day [1]

Group 1 - The latest LPR values for 1-year and 5-year loans will be announced on August 20, with the current rates at 3.0% and 3.5% respectively, unchanged from June [2] - A total of 711.8 billion yuan in reverse repos will mature next week, with specific maturities scheduled from Monday to Friday [3] - The Hang Seng Index Company will announce the results of the second quarter index review on August 22, with changes effective from September 8, 2025 [4] Group 2 - The Jackson Hole Global Central Bank Conference will take place from August 21 to 23, featuring a speech by Federal Reserve Chairman Jerome Powell on August 22 [5] - The Federal Reserve will release the minutes of its monetary policy meeting on August 21, amid a pause in interest rate cuts since early this year, with current rates between 4.25% and 4.5% [6] - Nearly 100 billion yuan in market value of restricted stocks will be unlocked next week, with 35 stocks facing unlocks, including 29.54 billion yuan from United Imaging Healthcare [7][8] Group 3 - One new stock, Balanshi, is set to be issued next week on August 19, with approximately 19 million shares expected to raise nearly 300 million yuan [11]

Core Viewpoint - The People's Bank of China (PBOC) announced a buyout reverse repurchase operation of 500 billion yuan to maintain ample liquidity in the banking system, set to take place on August 15, 2025, with a term of 6 months [1]. Group 1 - The operation will be conducted using a fixed amount and interest rate bidding method, with multiple price levels for bidding [1].