Group 1: Silver Futures Market - The total silver futures warehouse receipts reported by the Shanghai Futures Exchange on August 11 amounted to 1,151,962 kilograms, with a decrease of 6,425 kilograms compared to the previous day [1][4] - The main silver futures contract opened at 9,260 yuan per kilogram, reached a high of 9,293 yuan, a low of 9,192 yuan, and closed at 9,210 yuan, reflecting a decline of 0.72% [1] Group 2: U.S. Labor Market and Economic Indicators - Following the Federal Reserve's July meeting, the labor market has shown significant changes, with July non-farm employment increasing by only 73,000, well below the market expectation of 104,000 [2] - The downward revision of the previous two months' employment data by a total of 258,000 marks the largest adjustment since 1979, leading to a three-month moving average employment increase of only 35,000 [2] - The unemployment rate rose by 0.1 percentage points to 4.2%, which remains low and aligns with expectations [2] - The upcoming Jackson Hole conference (August 21-23) is anticipated to be a critical window for Fed Chair Powell to adjust forward guidance based on the labor market data [2] Group 3: U.S. Treasury Yield Movements - Following the non-farm data release, the 2-year and 10-year Treasury yields fell by over 20 basis points and 10 basis points, respectively, indicating a market re-evaluation of policy expectations after the recent hawkish FOMC meeting [3] - The ability of U.S. Treasury yields, particularly the 10-year yield, to maintain an upward trend will depend on the upcoming CPI data on August 12 [3]

美联储哈玛克：在9月FOMC会议之前，还有更多数据需要公布。 ...

Core Viewpoint - The Federal Reserve's FOMC meeting commenced as scheduled on Tuesday morning at 9 AM local time [1] Group 1 - The FOMC meeting is a key event for monetary policy discussions and decisions [1]

Core Viewpoint - The overall performance of U.S. retail sales data is weak, with slight adjustments in market pricing for Federal Reserve rate cuts by the end of the year [1] Group 1: Retail Sales Data - The market pricing for Federal Reserve rate cuts was initially set at 49 basis points before the release of May retail sales data, which changed slightly to 48.5 basis points post-release [1] - The overall retail sales report showed weakness, but the control group, which is considered the best indicator of consumer conditions, performed slightly better than expected, with upward revisions to previous values [1] - The data series is currently difficult to interpret due to a significant increase in sales in March driven by tariff concerns, followed by two consecutive months of decline [1]

美联储表示，FOMC会议按计划于周三上午9点开始。 ...