Group 1 - Bank of America predicts gold prices may reach $6,000 per ounce within the next 12 months, while silver prices could exceed $100 per ounce again this year despite current demand concerns from solar panel manufacturers [1] - Citigroup analysts indicate that emerging markets are expected to be the most favored trading markets this year, with major asset management firms investing in emerging market stocks and bonds, betting on strong global economic growth and a weaker dollar [1] - ING suggests that investors looking to avoid volatility in the U.S. stock market due to AI developments may find European government bonds attractive, as they offer relatively stable yields amid rising U.S. market volatility [1] Group 2 - JPMorgan forecasts that the Bank of Thailand will maintain its policy interest rate at 1% until 2027 to preserve policy space amid rising uncertainties, with the Thai economy expected to accelerate further due to political stability post-election [2] - CITIC Securities reports that Zimbabwe's ban on lithium exports is likely to lead to a significant increase in lithium prices, as the country is projected to account for 12% of global lithium resource output by 2026 [3] - Huatai Securities notes that the U.S. designation of phosphate-based agricultural inputs as strategic resources could impact market prices, particularly if demand increases due to supply stability concerns [3] Group 3 - CITIC Securities believes that the non-ferrous metals bull market is far from over, suggesting that investors should hold positions but avoid blindly chasing prices, with opportunities arising during market corrections [4][5] - CICC reports that recent policy adjustments in Shanghai may help stabilize housing prices in key cities, as the supply-demand structure shows positive changes [5][6] - Galaxy Securities indicates that the real estate industry may see overall valuation recovery as housing demand is expected to be released, leading to a healthier market development [6][7]

新华网北京2月25日电（记者侠克）全年固定资产投资预计917亿元，150个重点项目9月底前全部开工，大红门博物馆群建设全面推进，丽泽商务 区站等13个轨道微中心加速落地……春节假期最后一天，丰台区2026年度重点工作任务部署暨目标责任书签订大会举行，一系列重点任务集中发 布，在开局之年奋力跑好"十五五"第一程。 图为南中轴国际文化科技园。（北京市丰台区供图） 超级TOD示范区建设提速，让丰台的城市发展与轨道交通深度融合。聚焦大红门站、丽泽商务区站、草桥站等13个轨道微中心，年内完成用地功 能优化、项目谋划及方案制定，具备条件的项目年内进入审批环节，一步步稳扎稳打，让"轨道上的丰台"更具发展活力。 今年，丰台还将深化宛平博物馆之城建设，推动"馆桥城园岛河"一体化发展，让历史街区与自然景观相映相融；以"两园一河"建设为抓手，统筹 生态修复与文旅融合，打造兼具生态价值与文化内涵的发展廊道，让历史文化与现代生活相融共生。同时，60公里城市公园环绿道将在年内全部 完工；4个全龄友好公园、25块小微绿地年内建成投用，让市民推窗见绿、出门入园成为常态。 民生保障方面，丰台聚焦教育、医疗、养老、就业等关键领域，织密织牢民生保 ...

Core Viewpoint - The Shanghai Stock Exchange has approved Everbright Securities Co., Ltd. to provide primary market-making services for the Ping An CSI 500 Exchange-Traded Fund (ETF) starting from February 27, 2026, to enhance market liquidity and stability [1] Group 1 - The Ping An CSI 500 ETF is identified by the fund code 510590 [1] - The approval is in accordance with the Shanghai Stock Exchange's self-regulatory rules regarding market-making for listed funds [1] - The announcement was made on February 26, 2026, by the Shanghai Stock Exchange [1]

上证公告（基金）【2026】396号 为促进平安沪深300交易型开放式指数证券投资基金（以下简称平安300，基金代码:510390）的市 场流动性和平稳运行，根据《上海证券交易所基金自律监管规则适用指引第2号——上市基金做市业 务》等相关规定，本所同意光大证券股份有限公司自2026年02月27日起为平安300提供主做市服务。 特此公告。 上海证券交易所 2026年02月26日 ...

2026年02月26日 MACD金叉信号形成，这些股涨势不错！ 为促进华宝中证细分食品饮料产业主题交易型开放式指数证券投资基金（以下简称食品ETF，基金 代码:515710）的市场流动性和平稳运行，根据《上海证券交易所基金自律监管规则适用指引第2号—— 上市基金做市业务》等相关规定，本所同意中国银河证券股份有限公司自2026年02月27日起为食品ETF 提供主做市服务。 特此公告。 上海证券交易所 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 上证公告（基金）【2026】393号 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 上海证券交易所 上证公告（基金）【2026】399号 特此公告。 2026年02月26日 为促进兴业中证科技优势成长50策略交易型开放式指数证券投资基金（以下简称科技成长，基金代 码:563560）的市场流动性和平稳运行，根据《上海证券交易所基金自律监管规则适用指引第2号——上 市基金做市业务》等相关规定，本所同意中信证券股份有限公司自2026年02月27日起为科技成长提供主 做市服务。 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 特此公告。 上海证券交易所 2026年02月26日 上证公告（基金）【2026】392号 为促进华宝中证大数据产业交易型开放式指数证券投资基金（以下简称数据产业，基金代 码:516700）的市场流动性和平稳运行，根据《上海证券交易所基金自律监管规则适用指引第2号——上 市基金做市业务》等相关规定，本所同意中国银河证券股份有限公司自2026年02月27日起为数据产业提 供主做市服务。 ...

为促进华宝中证消费龙头交易型开放式指数证券投资基金（以下简称消费龙头，基金代 码:516130）的市场流动性和平稳运行，根据《上海证券交易所基金自律监管规则适用指引第2号——上 市基金做市业务》等相关规定，本所同意中国银河证券股份有限公司自2026年02月27日起为消费龙头提 供主做市服务。 上证公告（基金）【2026】391号 特此公告。 上海证券交易所 2026年02月26日 ...

2026年开年以来，中国债券利率市场不同期限继续长短分化，如果追溯回2025年5月8日"降息"以来，截 至2月14日，1年期至3年期短端利率因资金面宽松稳步下行，而5年期以上中长久期利率却出现不同程度 抬升，30年期超长端利率更是较"降息"之时上行近50个基点。这种"短降长升"的曲线形态，揭示出当前 利率市场正经历货币政策、通胀预期与财政融资三大因素驱动的"久期分割"新格局。 2025年5月"降息"后，中债曲线出现结构性分化。货币政策牢牢掌控短端，资金面持续宽松与国债买卖 常态化形成双重支撑，导致1—3年期利率围绕政策利率波动。通胀预期则主导中端，5—10年期利率走 势则主要反映当前市场对"再通胀"前景的分歧，对GDP平减指数、PPI等指标敏感度显著提升。若年中 物价回升超预期，流动性宽松局面可能边际收敛，推动10年期利率再次向2.0%关键位靠拢。 芦哲强调，财政融资成为超长端利率波动的主导变量。随着2026年"两会"临近，超长期特别国债发行高 峰将至。历史数据显示，每当政府债供给放量，30年期利率便出现陡峭化上行。当前30年与10年期利差 维持在45个基点附近时，在供需压力下可能扩张至50—60个基点。值得 ...

- The report discusses the valuation of the convertible bond market, indicating that the pricing deviation indicator for the convertible bond market is at 14.56%, which is at the 99.8th percentile level since 2018 and 2021[1][7] - The report introduces a rotation strategy between convertible bonds and a stock-bond portfolio based on the pricing deviation indicator, where the weight of convertible bonds is adjusted according to the Z-score of the pricing deviation[11] - The low valuation strategy is constructed using the CCB_out pricing model, selecting the 15 convertible bonds with the lowest pricing deviation in each of the debt, balanced, and equity-biased categories, forming a pool of 45 convertible bonds[22] - The low valuation + strong momentum strategy combines the pricing deviation factor with the momentum factor of the underlying stock, using the equal-weighted scores of the stock's momentum over the past 1, 3, and 6 months[25] - The low valuation + high turnover strategy selects the 50% of convertible bonds with the lowest valuation and then uses the turnover rate factor to select the most actively traded convertible bonds[29] - The balanced debt-enhanced strategy selects the 50% of convertible bonds with the lowest valuation, removes equity-biased convertible bonds, and uses the turnover rate factor and the momentum factor of the underlying stock for the debt-enhanced pool, and the turnover rate factor for the balanced pool[32] - The credit bond substitution strategy selects convertible bonds with a yield to maturity (YTM) + 1% greater than the YTM of 3-year AA-rated credit bonds, and then selects the 20 convertible bonds with the strongest 1-month momentum of the underlying stock[35] - The volatility control strategy selects the top 15 convertible bonds with the highest scores of low valuation + strong momentum in each of the debt-enhanced, balanced-enhanced, and equity-enhanced categories, and controls the portfolio volatility at 4%[38] - The convertible bond market pricing deviation indicator is 14.56%[1][7] - The rotation strategy between convertible bonds and a stock-bond portfolio shows stable excess returns[11] - The low valuation strategy achieves an annualized return of 20.9% and an excess return of 8.8% since 2018[22] - The low valuation + strong momentum strategy achieves an annualized return of 25.2% and an excess return of 12.7% since 2018[25] - The low valuation + high turnover strategy achieves an annualized return of 23.6% and an excess return of 11.3% since 2018[29] - The balanced debt-enhanced strategy achieves an annualized return of 22.8% since 2018[32] - The credit bond substitution strategy achieves an annualized return of 7.1% since 2018[35] - The volatility control strategy achieves an annualized return of 9.7% since 2018[38]