Group 1 - Japan's stock market faced a significant decline, with the Nikkei 225 index dropping over 2% to 49,224.94 points, and closing down 1.89% at 49,303.28 points [1][2] - Japanese government bonds plummeted due to renewed expectations of interest rate hikes, with the 2-year bond yield surpassing 1% for the first time since 2008, and the 10-year yield rising to 1.85%, marking the highest levels since June 2008 [1][2] - The probability of a Bank of Japan interest rate hike in December increased to 64%, as Governor Kazuo Ueda signaled a potential adjustment to the monetary policy [2] Group 2 - The cryptocurrency market continued to decline, with Bitcoin falling to around $86,000, down 5.34%, and Ethereum dropping over 5%, while other cryptocurrencies like Solana and Dogecoin fell more than 7% [2] - Over the past 24 hours, more than 210,000 individuals in the cryptocurrency market faced liquidation, totaling approximately $639 million [2]

General Naming Logic - Stock index futures contracts are typically named based on the underlying index, expiration date, and contract type, with slight variations across different markets [4] - The name or code usually consists of the following components: 1. Underlying index identifier: Specifies the stock index tracked by the contract (e.g., CSI 300, S&P 500, Nikkei 225) 2. Expiration date identifier: Indicates the month and year of expiration 3. Contract type (optional): Some markets differentiate between main contracts and continuous contracts, though this is not usually reflected in official naming [4] Specific Market Cases Mainland China (CFFEX) - The China Financial Futures Exchange (CFFEX) has a typical naming rule structured as "index code + last two digits of the expiration year + expiration month," with specific letter codes to distinguish different indices [5] - Current index codes include: - IF: CSI 300 index futures - IC: CSI 500 index futures - IM: CSI 1000 index futures - For example, IF2406 indicates CSI 300 index futures expiring in June 2024 [6] Contract Month Rules - CFFEX stock index futures contracts are available for the current month, the next month, and the following two quarterly months (March, June, September, December) [7] U.S. Market (CME Group) - U.S. stock index futures, primarily traded on the Chicago Mercantile Exchange (CME), follow a naming convention that emphasizes "index abbreviation + contract type + expiration month code," with month codes represented by letters [8] - For example, E-mini S&P 500 futures are coded as ES, followed by the expiration month code and the last two digits of the year [9] Month Code Rules - CME uses a letter-to-month correspondence system, where: - F = January - G = February - H = March - J = April - K = May - M = June - N = July - Q = August - U = September - V = October - X = November - Z = December [10] Japanese Market (Osaka Exchange) - Japanese stock index futures, primarily based on the Nikkei 225 index, have a naming convention similar to that of the U.S., but the month codes may be simplified [11] - For instance, NKD2412 indicates Nikkei 225 futures expiring in December 2024 [11] Summary - The article provides a comprehensive overview of the naming conventions for stock index futures contracts across different markets, highlighting the common elements and specific rules applicable to each market [12]

Group 1: Oil Market Insights - Trend-following strategies (CTA) are shifting focus to shorting the dollar and going long on gold after a significant short covering in crude oil [1] - WTI crude oil futures surged 13% last week, with a notable 4.9% increase on Wednesday driven partly by forced large-scale liquidations by trend followers [1][4] - Geopolitical factors, such as Israel's strikes on Iran, contributed to the recent price surge, indicating a potential positive trend for crude oil futures in the medium term [4] Group 2: Currency Market Dynamics - The dollar's short positions are nearing extreme levels, with CTAs showing strong consensus on shorting the dollar against the euro, pound, and Mexican peso [6] - Current dollar positions have not yet reached liquidation trigger levels, but a sharp rebound in the dollar could pose risks [11] - The extreme bearish positioning on the dollar reflects deep market pessimism, which could lead to a chain reaction if large-scale liquidations occur [11] Group 3: Gold Market Positioning - Gold is positioned as a key asset in CTA's portfolio, with 100% bullish positioning across all trend models, indicating unprecedented optimism towards the precious metal [12] - Current gold prices are at $3,451 per ounce, with no sell signals triggered in various price path forecasts, reflecting concerns over inflation and geopolitical risks [14] - The one-sided positioning in gold could expose potential systemic risks, as sudden shifts in market sentiment may lead to significant price volatility [14] Group 4: Equity and Fixed Income Trends - There is a noticeable divergence in trend-following models within the equity and bond markets, with long-term models shorting Russell 2000 and Nikkei 225 futures, while short- and medium-term models are bullish on S&P 500, Nasdaq 100, and Nikkei 225 futures [15] - In fixed income, CTAs are shorting 10-year U.S. Treasury futures, while showing a more diversified approach in other global bond futures [16]