今日周五(1月9日)亚盘时段，COMEX白银目前交投于77.05一线下方，今日开盘于76.67美元/盎司，截 至发稿，comex白银暂报76.95美元/盎司，上涨0.35%，最高触及77.30美元/盎司，最低下探75.15美元/盎 司，目前来看，comex白银盘内短线偏向看跌走势。 打开APP，查看更多高清行情>> 【要闻速递】 实现这一目标的主要机制是通过房利美和房地美的自留投资组合，根据它们与美国财政部的现有协议， 这两家公司（每家公司）持有的抵押贷款投资不得超过2250亿美元。 截至2025年11月，两家公司在这些投资组合中各持有约1240亿美元，这意味着它们各自可以再购买1000 亿美元的住房抵押贷款支持证券。 另外，路透社引述四名知情人士透露，特朗普政府正积极讨论一项前所未有的计划，建议向格陵兰居民 一次性支付高额款项，以此诱使当地人支持脱离丹麦统治，进而加入美国。据报，美方官员曾探讨向每 位格陵兰居民发放1万至10万美元（约7.8万至78万港元）不等的补偿金。 【最新comex白银行情解析】 3月白银期货本周的价格走势引发市场对日线图上形成看跌双顶反转形态的担忧。多头的下一个上行价 格目标是收盘价 ...

·美国国会预算办公室预计美联储利率将在第四季度降至3.4% ·联合国发言人：美国若继续"欠费"或失去联大投票权 ·日本央行对全国所有9个地区的经济形势评估维持不变 ·芝商所再出手近期第三次上调贵金属期货保证金 【资讯导读】 ·特朗普指示购买2000亿美元住房抵押贷款支持证券 【市场资讯】 ·美国总统特朗普表示，他正在下令购买2000亿美元的住房抵押贷款支持证券，此举被其视为在11月中 期选举前降低住房成本的最新举措。 ·美联储理事米兰表示，希望在2026年降息约150个基点。 ·美国上周初请失业金人数升至20.8万人，略低于市场预期，仍处于历史低位区间，前值上修1000人至20 万人。美国挑战者报告显示，去年12月裁员人数为35553人，创17个月新低。 ·美国国会预算办公室预计，美联储利率将在2026年第四季度降至3.4%。 ·美国国会参议院8日举行程序性投票，决定推进一项民主、共和两党议员共同提出的决议草案，以期限 制总统特朗普在未经国会授权的情况下对委内瑞拉采取进一步军事行动。 ·乌克兰总统泽连斯基8日表示，乌克兰与美国的双边安全保障协议文本已基本就绪，将由乌美两国总统 亲自敲定。 ·联合国秘书长发言人 ...

1、美股三大指数收盘涨跌不一，道指涨0.55%，标普500指数微涨，纳斯达克 综合指数跌0.44%；纳斯 达克中国金龙指数收涨1.09%，阿里巴巴涨5.2%，虎牙涨14.6%； 军工股全线走强，存储概念普跌，英 伟达跌超2%。 2、WTI原油 期货收涨超3%，报58.65美元/桶；布伦特原油期货收涨超3%，报63美元/ 桶；现货 白银收跌1.59%，报76.94美元/盎司；现货铂金收跌1.29%；纽约期金站上4480美元/盎司。 3、 矿业巨头嘉能可与力拓重启合并谈判，双方正就可能的业务合并进行初步商谈，或涵盖部分或全部业 务，包括全股合并，若达成将打造企业价值超2600亿美元的矿业巨头，力拓需在2026年2月5日前作出决 定。 4、美国总统特朗普指示购买2000亿美元住房抵押贷款支持 证券，称此举将降低抵押贷款利率和月 供成本。 5、特朗普表示已决定下一任美联储主席人选，但未透露具体人选；美国财长贝森特称美联储 主席人选将于本月晚些时候公布。 6、美国参议院通过战争权力决议，限制特朗普在未获得国会授权情 况下对委内瑞拉采取进一步军事行动。 7、特朗普政府考虑向格陵兰居民发放一次性款项，金额每人1 万至10万 ...

隔夜股市 | 标的 | 涨跌 | | --- | --- | | 上证指数 | -0.07% | | 深证成指 | -0.51% | | 恒生指数 | -1.17% | | 日经225指数 | -1.63% | | 韩国KOSPI | 0.03% | | 德国DAX30 | 0.02% | | 英国富时100 | -0.04% | | 法国CAC40 | 0.12% | | 欧洲斯托克50 | -0.33% | | 道琼斯指数 | 0.55% | | 标普500指数 | 0.01% | | 纳斯达克指数 | -0.44% | 美东时间周四，美股三大指数收盘涨跌不一，道指涨0.55%，标普500指数涨0.01%，纳指跌0.44%。热 门中概股多数上涨，纳斯达克中国金龙指数涨1.09%。 市场交易员目前至少计入了美联储今年两次降息的预期，尽管美联储在去年12月释放出明显分歧信号， 暗示2026年可能仅有一次降息。美联储预计将在本月会议上维持利率不变。因此，周五公布的12月美国 就业报告将成为市场关注的关键数据。 商品市场 | 标的 | 涨跌 | | --- | --- | | NYMEX WTI原油 | 3.16 ...

今天分享的是：2025年结构融资：境外资产证券化市场回顾及热点洞察 总体而言，全球资产证券化市场在调整中稳步发展，产品结构日益复杂，创新活力不减。资产担保债券的评级突破与跨境房地产投资信托基金的运营实践， 为市场参与者提供了重要参考。随着技术进步与监管演进，该市场预计将继续向多元化、透明化与精细化的方向演进。 以下为报告节选内容 报告共计：23页 2025年结构融资：境外资产证券化市场趋势与热点解析 岁末年初，全球金融市场回顾与展望成为焦点。标普信评近日发布报告，对境外资产证券化市场进行了全面梳理。报告显示，尽管经历周期波动，资产证券 化产品仍是国际资本市场重要组成部分，并在结构、资产类型与监管框架方面持续演进。 美国市场虽从2021年峰值回落，但地位稳固。2024年资产证券化产品占固收市场发行规模约19%。市场主要分为住房抵押贷款支持证券和资产支持证券两大 类，底层资产涵盖住房贷款、汽车贷款、信用卡债权、学生贷款及商业地产等多类资产。2022年受加息周期影响发行规模大幅收缩，2024年起逐步回暖。欧 洲市场则呈现稳步复苏态势，2024年发行规模同比增长约15%。值得关注的是，欧洲自推行"简单、透明、标准化" ...

今天分享的是：结构融资：境外资产证券化市场回顾及热点洞察（一） 报告共计：23页 境外资产证券化市场回顾及热点洞察总结 本文围绕境外资产证券化市场展开全面分析，涵盖市场概览、热点产品、投资洞察及发展趋势等核心内容。 在市场概览方面，美国资产证券化市场虽占固定收益市场比例较巅峰时期有所下降，但仍是资本市场重要组成部分。其产品分为住房抵押贷款支持证券和资 产支持证券两大类，受宏观经济、政策等因素影响，发行规模波动较大，2021-2022年创历史新高后因加息等因素下滑，2023年起逐步恢复。欧洲资产证券 化市场存量规模可观，2023年以来发行回暖，分为配售型和自留型产品，配售型占比波动上升，且STS框架推动下相关产品占比持续提升，两地底层资产均 以车贷、信用卡、消费贷款等为主。 市场热点聚焦资产担保债券，这一由资产池担保的债务工具，因双重追索权受投资者青睐，全球已有超三十个国家发行，2024年发行量创历史新高，欧洲是 主要市场。该产品可突破主权评级"天花板"，三大国际评级机构均有相应评级方法，标普采用五步分析法，惠誉和穆迪为两步分析法，核心均围绕法律监 管、抵押品质量、超额抵押等因素评估。 市场洞察部分重点分析了持 ...

Core Insights - UBS shares rose by 1.8% in pre-market trading following an agreement with the U.S. Department of Justice to resolve legacy issues related to Credit Suisse's sale of mortgage-backed securities in the U.S. [1] Group 1: Agreement Details - UBS Group announced that it has reached an agreement with the U.S. Department of Justice to address unresolved consumer relief obligations stemming from Credit Suisse's past activities [1] - Credit Suisse Securities (USA) LLC will pay $300 million to settle all outstanding consumer relief obligations under a 2017 settlement agreement [1] Group 2: Financial Implications - UBS expects to recognize credit income from non-core and legacy businesses, which will arise from the release of contingent liabilities established during the purchase price allocation process of acquiring Credit Suisse [1]

Group 1 - UBS Group has reached an agreement with the U.S. Department of Justice to resolve legacy issues related to Credit Suisse's sale of residential mortgage-backed securities in the U.S. [1] - Credit Suisse Securities (USA) LLC will pay $300 million to settle all outstanding consumer relief obligations under a 2017 settlement agreement by August 1, 2025 [1]

Group 1: Overview of the U.S. Housing Assistance System - The U.S. housing assistance system is primarily reliant on the private housing market, with only 2.7% of the total population benefiting from it, indicating a low coverage compared to other developed countries [3][7][23] - The system has evolved over nearly a century, undergoing multiple revisions and improvements, which have led to the establishment of fair and efficient institutional arrangements worth studying [3][23][26] Group 2: Structure and Functioning of the Housing Assistance System - The housing assistance system is funded by the federal government and executed by state and local governments, providing support to low-income families through three main forms: public rental housing, project-based rental assistance, and housing vouchers [4][5][7] - As of 2023, approximately 5.13 million units are included in the housing assistance system, accounting for 3.6% of the total housing stock in the U.S., with 9.05 million residents receiving assistance [7][14] Group 3: Historical Development and Current Status - The U.S. housing assistance system dates back to the 1930s, initially aimed at providing affordable housing during the Great Depression, but has faced challenges such as high costs and inefficiencies [4][5][14] - By 2023, the number of public rental housing units has decreased to 886,000, reflecting a shift towards a model that relies more on private housing sources [5][7] Group 4: Evaluation and Oversight Mechanisms - The U.S. Department of Housing and Urban Development (HUD) has established a multi-dimensional evaluation system to monitor and assess the performance of local public housing agencies, ensuring accountability and quality in service delivery [12][27] - Local public housing agencies are required to submit data to HUD for performance evaluation, which influences funding and operational oversight [12][14] Group 5: Financing Support for Homebuyers - In addition to housing assistance, the federal government has created official or semi-official institutions to provide mortgage insurance and support mortgage securitization, thereby improving financing conditions for homebuyers [15][17] - The U.S. mortgage market has grown significantly, with the total mortgage balance nearing $14 trillion by 2023, reflecting a robust financing environment for homeownership [17][19] Group 6: Lessons and Insights - The U.S. housing assistance system demonstrates the importance of a balanced relationship between federal oversight and local execution, ensuring efficiency while addressing local needs [26][27] - The evolution of the system highlights the necessity of effective incentive and constraint mechanisms to prevent mismanagement and ensure that assistance reaches those in need [27][28] - The reliance on private housing markets, coupled with government support, illustrates a model that could be beneficial for other countries to consider in their housing policies [28][29]

Core Viewpoint - The article discusses the U.S. housing assistance system, which primarily relies on the private housing market and has a low coverage of social security functions, benefiting only 2.7% of the total population. Despite its small scale, the system has nearly a century of history, undergoing multiple revisions and improvements, and has developed some equitable and efficient institutional arrangements worth studying and learning from [2][4][26]. Group 1: Overview of the U.S. Housing Assistance System - The U.S. housing assistance system is funded by the federal government and executed by state and local governments, providing support to low-income families through three main forms: public rental housing, project-based rental assistance, and housing vouchers [2][5][6]. - The system has evolved since the 1930s, with significant changes in the 1960s to incorporate the private sector, leading to a shift towards a model where private housing sources dominate, and public housing plays a supplementary role [6][9]. - As of 2023, approximately 5.13 million units are included in the housing assistance system, accounting for 3.6% of the total housing stock, with public housing making up only 17.3% of the assistance forms [9][12]. Group 2: Evaluation and Management of Public Housing - The federal government has established a multi-dimensional public housing evaluation system to monitor and assess local public housing agencies, ensuring efficiency and quality in operations [3][15]. - Local public housing agencies are responsible for managing applications and setting rent standards, with eligibility typically requiring income below 80% of the area median income [15][16]. - Due to insufficient funding and limited housing stock, many eligible families face long waiting times, averaging 25 months, to receive assistance [16]. Group 3: Financing Support for Homebuyers - Beyond public housing, the federal government has set up official or semi-official institutions to provide mortgage insurance and support mortgage securitization, helping homebuyers improve financing conditions and reduce costs [18][20]. - The establishment of the Home Owner's Loan Corporation in 1933 and the Federal Housing Administration in 1934 marked significant steps in providing long-term, fixed-rate mortgage products to stabilize the housing market [19][20]. - By 2023, the U.S. housing mortgage market has grown to nearly $14 trillion, with the mortgage-to-GDP ratio exceeding 50%, indicating a robust financing environment for homebuyers [20][23]. Group 4: Lessons and Insights - The U.S. housing assistance system, while limited in scope, has developed effective practices over nearly a century that balance equity and efficiency, such as the division of responsibilities between federal and local governments [26][30]. - The establishment of a comprehensive evaluation and incentive mechanism by the Department of Housing and Urban Development (HUD) helps prevent local agencies from neglecting management in favor of supply [31]. - The relationship between government and the market is crucial, as the system relies heavily on private housing resources while the government provides necessary support to facilitate homeownership [32].