美国期货

Search documents
STARTRADER星迈:OPEC+增产预期导致油价下跌
Sou Hu Cai Jing· 2025-09-29 11:08
周五核心个人消费支出(PCE)数据公布后,美国期货和黄金期货价格上涨。 OPEC+增产预期导致油价下跌。 阿斯利康两地上市助力富时100指数上涨。 油市早盘走低,布伦特原油价格回落至每桶69美元以下,因伊拉克库尔德斯坦地区恢复出口,而OPEC+似乎准 备在周五的会议上再次增产。STARTRADER星迈据悉报告显示,11月份全球石油产量可能至少增加13.7万桶/ 日,随着年底临近,OPEC+的增产步伐明显放缓。OPEC+继续专注于从美国手中夺回市场份额,油价因此承 压。尽管如此,随着乌克兰继续袭击俄罗斯石油设施,以及中国通过进口俄罗斯石油来增加战略储备,过去一 周油价的走强凸显了目前市场相对均衡的格局。 在大西洋彼岸,美国市场有望延续上周的势头,周五公布的核心个人消费支出(PCE)通胀指标稳定在2.9%,这得 益于月度通胀数据0.2%。这意味着过去五个月中,美国已有四个月的月度通胀数据达到0.2%,这为美联储在未 来几个月继续降息提供了必要的支撑。金价飙升至每盎司3,816美元的历史高位,这清楚地表明市场预计未来政 策将放松,随着美联储最终改变政策方向,预计实际收益率将小幅下降。话虽如此,但并非一帆风顺:政府关 ...
国际固定收益平台的发展趋势
Sou Hu Cai Jing· 2025-06-19 02:48
Group 1 - The article discusses the development characteristics of global fixed income platforms over the past decade, emphasizing that the evolution of electronic trading platforms impacts liquidity discovery, trading behavior, and regulatory approaches in the fixed income market [1] - Electronic trading in the bond market has rapidly evolved since the late 1990s, becoming the mainstream trading method, with platforms transitioning from offline processes to self-structured online trading workflows [1] Group 2 - Over the past decade, electronic platforms have expanded their business scope, leading to the integration of various sub-markets to enhance liquidity and diversify investment products [2] - Major acquisitions include CME's purchase of NEX Group in 2018 and ICE's acquisition of TMC Bonds, which have transformed them into comprehensive trading service providers [2][3] - Data services have become a significant revenue source for trading platforms, with many focusing on index services that combine data and bond trading [3] Group 3 - The implementation of MiFID II has increased the demand for transaction reporting services, prompting platforms like Bloomberg and MarketAxess to expand their reporting capabilities through acquisitions [4] - The electronicization of the issuance market remains underdeveloped compared to the secondary market, indicating future growth potential for service providers [5] Group 4 - The trend in the fixed income market shows a contraction of single-dealer platforms and an expansion of multi-dealer platforms, with many single-dealer platforms closing down [6][7] - Multi-dealer platforms are favored due to their ability to provide liquidity from multiple sources, which is crucial for bond investors [7] Group 5 - Global trading platforms are increasingly attractive to investors, with emerging market bonds yielding higher returns than developed market counterparts, leading to a preference for platforms that offer a wide range of tradable assets [8][11] - The dominance of platforms like Bloomberg, MarketAxess, and Tradeweb among EMEA-based institutions highlights the trend towards global trading solutions [8][11] Group 6 - Control over data rights is critical for trading platforms' success, with comprehensive platforms like Bloomberg leveraging proprietary data to enhance their competitive edge [12][13] - The integration of multiple functionalities, such as communication tools and transaction cost analysis, makes platforms more appealing compared to those with limited capabilities [14] Group 7 - Trading platforms are increasingly focusing on technological advancements and geographic expansion, with significant investments in fintech and acquisitions to enhance their service offerings [19][20] - New entrants in the market are targeting niche areas, such as data sharing networks and user-friendly technology solutions, to meet the evolving demands of asset management firms [21][22][23] Group 8 - The article suggests that domestic trading platforms can learn from international trends by focusing on core asset classes to attract participants and enhance service offerings [25] - Emphasizing data rights and technological integration will be essential for platforms to remain competitive in a rapidly evolving market [27]