南非兰特兑美元目前涨0.4%，北京时间23:55暂报19.5826兰特，脱离北京时间20:10刷新的日高19.3073 兰特。 非洲股市｜周二（4月8日），南非富时/JSE非洲领先40可交易指数收涨2.34%，报77245.68点。 ...

Summary of Key Points from the Conference Call Industry or Company Involved - The conference call primarily discusses the foreign exchange market, specifically focusing on the USD/CNY exchange rate and its projections [1][6]. Core Points and Arguments - **Model Projections**: The projected USD/CNY fix is 7.2669, which is 894 pips higher than the previous projection of 7.1775. The model projection with a counter-cyclical factor is 7.2148, indicating a 373 pips increase from the previous fix [1]. - **Recent Model Errors**: There is a mention of recent model errors without counter-cyclical factor adjustments, although specific details are not provided in the summary [4]. - **Calendar of Events**: A calendar of significant events involving China is outlined, including: - The signing of the America First Trade Policy by Trump, which aims to address trade and currency issues with China [7]. - Implementation of 25% tariffs on oil imports from Venezuela and auto imports, as well as potential tariffs on semiconductors, pharmaceuticals, and agricultural products [7]. - A deadline for tariff exemptions on Mexican and Canadian goods, which is set to expire on April 2, 2025 [7]. - Trump's consideration of reducing tariffs on China if a deal regarding TikTok is reached [7]. Other Important but Possibly Overlooked Content - **Analyst Certification**: Analysts Craig Chan, Wee Choon Teo, and Vicky Chen certify that their views reflect personal opinions and are not influenced by compensation related to specific recommendations [8]. - **Important Disclosures**: The document includes disclosures about the availability of research and potential conflicts of interest, emphasizing that the information is based on reliable sources but has not been independently verified [9][10]. - **Valuation Methodology**: The report discusses the valuation methodology for fixed income, which includes technical factors, fundamental analysis, and quantitative analysis [13][16]. - **Investment Risks**: The document warns that investment in securities markets is subject to risks and advises investors to read all related documents carefully before making investment decisions [18]. This summary encapsulates the essential points from the conference call, focusing on the foreign exchange market and related economic policies, while also highlighting the importance of disclosures and investment risks.

文 | 银行螺丝钉 （转载请注明出处） 近几年，大家对「养老」的重视度日渐提高，也是很多朋友比较关注的话题。 美元汇率有关。 例如2024年9月下旬，美元汇率出现了大 幅贬值。当时全球非美股市场，涨幅就超 过美股，欧股、亚太地区股市普涨。 2025年1月中旬至3月中旬，美元再次贬 值，美股这段时间也跑输市场，欧股、A 股港股上涨较多，港股涨幅成为这段时间 里的全球第一。 为啥汇率波动对金融市场影响这么大呢? 比如： 为了帮助大家掌握【 养老规划的方法 】，这里为大家准备了一门限时免费的课程，详细介绍了个人养老规划的相关问题。 长按识别下方二维码，添加@课程小助手，回复「 个人养老 」即可领取～ ◆◆◆ · 养老，到底需要多少钱？ · 储备养老金，真的有必要很早就开始规划吗？ · 如 果要为养老做补充，有哪些品种值得考虑呢？ 虽然股票市场比较出名，但从成交量上， 外汇市场的成交量，是全球股票市场成交 量的数倍。 外汇市场是最大的一个金融市场。 所以汇率稍有波动,对其他金融资产也会 产生冲击。 汇率，可以简单理解为，一个国家所对应 的全部资产之和。 汇率升值，对一个国家对应的资产有利。 不过，汇率并不是呈现"单边 ...

边际效应决定价格，这是经济学的规律。债券价格同样如此。虽然大的趋势是由总需求和总供给来决定的，但更微观的交易价格则是由边际来决定的。 我们研究债券价格，从 根本上需要研究资金面的总量及其边际变化，再往资金面上游研究就是货币政策的边际变化了。 ——笔记哥《分析》 昨晚美国10月CPI数据完全符合预期，早盘债市情绪平稳，10Y国债利率平开在2.0875%。 今日股市大幅下跌，债市静待明日经济数据与央行流动性投放情况（明日为本月缴税截止日且有14500亿元MLF到期），10Y国债利率在2.085%附近窄幅 震荡。 自上周三特朗普赢得大选以来，一通企业老板式的s操作后，美元指数持续强势上涨，今日已逼近107，是2023年11月以来的最高。的确不服不行，就在美 国这几年经济增长牛冠西方之时，川老板还要成立"政府效率部(DOGE)"，砍掉无效部门和低效公务员，太不人道了！就不考虑就业吗？！美国人民选上 川普这种人，真不知道是荣幸，还是不幸。 受此影响，人民币汇率贬值。从汇率盘面看昨天央妈或出手干预，但很难与趋势对抗，短期内可能要"看汇做股债商"了。 -------------------------- 【今日盘面】 24 ...