交易咨询业务资格：证监许可【2012】1091号 聚烯烃早报 2025-8-26 大越期货投资咨询部 金泽彬 从业资格证号：F3048432 投资咨询证号： Z0015557 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我 司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 • LLDPE概述： • 1. 基本面：宏观方面，7 月中国官方制造业 PMI 为 49.3%，环比降 0.4 个百分点，连续 4 个月收缩，财新7月制造业 PMI 从 50.4 降至 49.5，同样收缩，7 月出口 3217.8 亿美元，同 比增 7.2%。8月20日，彭博社报道，针对石化与炼油行业的全面改革方案正在酝酿，拟解决长期 产能过剩，预计9月出台。供需端，农膜整体需求不及预期，膜类开工偏低。当前LL交割品现货 价7300（+0），基本面整体中性； • 2. 基差： LLDPE 2601合约基差-123，升贴水比例-1.7%，偏空； • 3. 库存：PE综合库存56.4万吨（+5.9），偏空； • 4. ...

广发早知道-汇总版 广发期货研究所 电 话：020-88818009 E-Mail：zhangxiaozhen@gf.com.cn 目录： 金融衍生品： 金融期货： 股指期货、国债期货 贵金属： 黄金、白银 集运欧线 商品期货： 有色金属： 铜、氧化铝、铝、铝合金、锌、锡、镍、不锈钢、碳酸锂 黑色金属： 钢材、铁矿石、焦煤、焦炭 农产品： 油脂、粕类、玉米、生猪、白糖、棉花、鸡蛋、红枣、苹果 能源化工： 原油、PTA、乙二醇、苯乙烯、短纤、尿素、瓶片、烧碱、PVC、LLDPE、 PP 特殊商品： 橡胶、玻璃纯碱、工业硅、多晶硅 2025 年 8 月 26 日星期二 投资咨询业务资格： 证监许可【2011】1292 号 组长联系信息： 张晓珍（投资咨询资格：Z0003135） 电话：020- 88818009 邮箱：zhangxiaozhen@gf.com.cn 刘珂（投资咨询资格：Z0016336） 电话：020-88818026 邮箱：qhliuke@gf.com.cn 叶倩宁（投资咨询资格：Z0016628） 电话：020- 88818017 邮箱：yeqianning@gf.com.cn 周敏波（投资咨 ...

日期 2025 年 8 月 26 日 021-60635740 pengjinglin@ccb.ccbfutures.com 期货从业资格号：F3075681 021-60635738 lijie@ccb.ccbfutures.com 期货从业资格号：F3031215 021-60635737 renjunchi@ccb.ccbfutures.com 期货从业资格号：F3037892 028-86630631 penghaozhou@ccb.ccbfutures.com 期货从业资格号：F3065843 021-60635570 liuyouran@ccb.ccbfutures.com 期货从业资格号：F03094925 021-60635727 fengzeren@ccb.ccbfutures.com 期货从业资格号：F03134307 行业 聚烯烃日报 能源化工研究团队 研究员：彭婧霖（聚烯烃） 研究员：李捷,CFA（原油燃料油） 研究员：任俊弛（PTA、MEG） 研究员：彭浩洲（尿素、工业硅） 研究员：刘悠然（纸浆） 研究员：冯泽仁（玻璃纯碱） 请阅读正文后的声明 每日报告 | 表1：期货市场行情 | ...

商 品 研 究 研 究 所 晨 会 观 投资咨询业务资格： 证监许可[2011]1771号 分[析Ta师ble_Report] 点 精 萃 从业资格证号：F0256916 投资咨询证号：Z0000671 电话：021-68756925 邮箱：jialj@qh168.com.cn 明道雨 从业资格证号：F03092124 投资咨询证号：Z0018827 电话：021-68758786 邮箱：mingdy@qh168.com.cn 刘慧峰 从业资格证号：F3033924 投资咨询证号：Z0013026 电话：021-68751490 邮箱：Liuhf@qh168.com.cn 刘兵 从业资格证号：F03091165 投资咨询证号：Z0019876 联系电话：021-58731316 邮箱：liub@qh168.com.cn 王亦路 从业资格证号：F03089928 投资咨询证号：Z0019740 电话：021-68757092 邮箱：wangyil@qh168.com.cn 冯冰 从业资格证号：F3077183 投资咨询证号：Z0016121 电话：021-68757092 邮箱：fengb@qh168.com. ...

2025年08月25日 国泰君安期货商品研究晨报-能源化工 观点与策略 | 对二甲苯：趋势偏强，正套 | 2 | | --- | --- | | PTA：趋势偏强，正套 | 2 | | MEG：趋势偏强 | 2 | | 橡胶：震荡运行 | 4 | | 合成橡胶：短期偏强，中期仍在区间震荡 | 6 | | 沥青：油价稍偏强，裂解愈回落 | 8 | | LLDPE：短期偏强震荡 | 11 | | PP：短线反弹，中期震荡市 | 12 | | 烧碱：偏多对待 | 13 | | 纸浆：震荡运行 | 14 | | 玻璃：原片价格平稳 | 16 | | 甲醇：短期震荡有支撑 | 17 | | 尿素：弱势运行 | 19 | | 苯乙烯：短期偏强，中期偏空 | 21 | | 纯碱：现货市场变化不大 | 22 | | LPG：进口成本存支撑，但供需缺乏明显改善 | 23 | | 丙烯：供需紧平衡，价格偏强整理 | 23 | | PVC：短期震荡，趋势仍有压力 | 26 | | 燃料油：涨势明显，短期强势延续 | 27 | | 低硫燃料油：相对高硫偏弱，外盘现货高低硫价差小幅反弹 | 27 | | 集运指数（欧线）：弱势震荡 | ...

| 商品 | | 动力煤 | （元/吨） | | | --- | --- | --- | --- | --- | | 日期 | 基差 | 5月-1月 | 9月-1月 | 9月-5月 | | 2025/08/22 | -97.4 | 0.0 | 0.0 | 0.0 | | 2025/08/21 | -97.4 | 0.0 | 0.0 | 0.0 | | 2025/08/20 | -97.4 | 0.0 | 0.0 | 0.0 | | 2025/08/19 | -99.4 | 0.0 | 0.0 | 0.0 | | 2025/08/18 | -100.4 | 0.0 | 0.0 | 0.0 | 运筹帷幄 决胜千里 宝城期货品种套利数据日报（2025 年 8 月 25 日） 一、动力煤 投资咨询业务资格：证监许可【2011】1778 号 二、能源化工 www.bcqhgs.com 2 杭州市求是路8号公元大厦东南裙楼1-5层 www.bcqhgs.com 1 杭州市求是路8号公元大厦东南裙楼1-5层 运筹帷幄 决胜千里 2025/08/22 2025/08/21 2025/08/20 2025/08/19 2025 ...

Report Overview - Report Title: Polyolefin Morning Report - Report Date: August 22, 2025 - Report Author: Jin Zebin from Dayue Futures Investment Consulting Department Industry Investment Rating - Not provided in the report Core Viewpoints - The LLDPE and PP markets are expected to oscillate today. The "anti-involution" policy-driven gains have subsided, crude oil prices are falling, and while the demand for agricultural films for LLDPE is below expectations, the downstream demand for PP in sectors like pipes and plastic weaving is slightly improving. The industrial inventories for both are neutral [4][7]. Summary by Content LLDPE Analysis - **Fundamentals**: In July, China's official manufacturing PMI was 49.3%, down 0.4 percentage points month-on-month, in contraction for four consecutive months. The Caixin manufacturing PMI dropped from 50.4 to 49.5. Exports in July were $321.78 billion, a year-on-year increase of 7.2%. The "anti-involution" policy improved commodity expectations, but the market has returned to fundamentals after the sentiment cooled. Short-term oil prices are oscillating downward. The overall demand for agricultural films is below expectations, and the film production start-up rate is low. The current spot price of LLDPE delivery products is 7,230 (+50), with the overall fundamentals being neutral [4]. - **Basis**: The basis of the LLDPE 2601 contract is -156, with a premium/discount ratio of -2.1%, indicating a bearish signal [4]. - **Inventory**: The comprehensive PE inventory is 564,000 tons (+59,000), which is bearish [4]. - **Market**: The 20-day moving average of the LLDPE main contract is downward, and the closing price is above the 20-day line, showing a neutral situation [4]. - **Main Position**: The main LLDPE position is net short, with an increase in short positions, which is bearish [4]. - **Expectation**: The LLDPE main contract is oscillating. Considering the factors such as the subsiding policy-driven gains, falling crude oil prices, and below-expected agricultural film demand, it is expected that PE will oscillate today [4]. - **Factors**: The bullish factor is cost support, while the bearish factors are weak demand and falling crude oil prices. The main logic is driven by cost, demand, and domestic macro policies [6]. PP Analysis - **Fundamentals**: Similar to LLDPE, the macro situation shows a contraction in the manufacturing PMI. The "anti-involution" policy impact has waned. Short-term oil prices are falling. Downstream demand is gradually entering the peak season, with a slight improvement in the demand for pipes and plastic weaving. The current spot price of PP delivery products is 7,030 (-0), with the overall fundamentals being neutral [7]. - **Basis**: The basis of the PP 2601 contract is -18, with a premium/discount ratio of -0.3%, indicating a neutral situation [7]. - **Inventory**: The comprehensive PP inventory is 572,000 tons (-15,000), which is neutral [7]. - **Market**: The 20-day moving average of the PP main contract is downward, and the closing price is below the 20-day line, showing a bearish situation [7]. - **Main Position**: The main PP position is net short, with a decrease in short positions, which is bearish [7]. - **Expectation**: The PP main contract is oscillating. Given the policy and market conditions, it is expected that PP will oscillate today [7]. - **Factors**: The bullish factor is cost support, while the bearish factors are weak demand and falling crude oil prices. The main logic is driven by cost, demand, and domestic macro policies [9]. Market Data - **Spot and Futures Prices**: The report provides detailed spot and futures prices for LLDPE and PP, including prices in different regions, changes, and prices of different contracts [10]. - **Inventory Data**: It shows the inventory types and quantities for LLDPE and PP, such as warehouse receipts, comprehensive factory inventories, and social inventories, along with their changes [10]. Supply and Demand Balance Sheets - **Polyethylene**: The supply and demand balance sheet from 2018 - 2025E shows data on capacity, production, net imports, apparent consumption, and other aspects, reflecting the industry's development trends over the years [15]. - **Polypropylene**: Similar to polyethylene, the supply and demand balance sheet for polypropylene from 2018 - 2025E presents relevant data to show the industry's supply and demand situation [17].

Report Industry Investment Rating - Not provided in the content Core View of the Report - The report presents the daily arbitrage data of various futures varieties of Baocheng Futures on August 22, 2025, including power coal, energy chemicals, black metals, non - ferrous metals, agricultural products, and stock index futures [1][5][21][27][39][50] Summary by Category Power Coal - The table shows the basis and spreads (5 - 1 month, 9 - 1 month, 9 - 5 month) of power coal from August 15 to August 21, 2025. The basis on August 21 was - 97.4 yuan/ton, and the spreads were all 0.0 [1][2] Energy and Chemicals Energy Commodities - Data on the basis of energy commodities (fuel oil, INE crude oil, crude oil/asphalt) from August 15 to August 21, 2025 are provided, along with the ratio of crude oil to asphalt and other information [7] Chemical Commodities - The basis data of chemical commodities (rubber, methanol, PTA, LLDPE, V, PP) from August 15 to August 21, 2025 are presented. For example, the basis of rubber on August 21 was - 920 yuan/ton [9] - The table shows the inter - period spreads (5 - 1 month, 9 - 1 month, 9 - 5 month) of chemical commodities (rubber, methanol, PTA, LLDPE, PVC, PP, ethylene glycol) and inter - variety spreads (LLDPE - PVC, LLDPE - PP, PP - PVC, PP - 3*methanol) from August 15 to August 21, 2025 [11] Black Metals - The basis data of black metals (rebar, iron ore, coke, coking coal) from August 15 to August 21, 2025 are given. For instance, the basis of rebar on August 21 was 199.0 yuan/ton [21] - The inter - period spreads (5 - 1 month, 9(10) - 1 month, 9(10) - 5 month) and inter - variety spreads (rebar/iron ore, rebar/coke, coke/coking coal, rebar - hot - rolled coil) of black metals are presented [20] Non - Ferrous Metals Domestic Market - The domestic basis data of non - ferrous metals (copper, aluminum, zinc, lead, nickel, tin) from August 15 to August 21, 2025 are shown. For example, the basis of copper on August 21 was 220 yuan/ton [28] London Market - Data on LME non - ferrous metals (copper, aluminum, zinc, lead, nickel, tin) on August 21, 2025 are provided, including LME premium/discount, Shanghai - London ratio, CIF, domestic spot price, and import profit and loss [34] Agricultural Products - The basis data of agricultural products (soybean No.1, soybean No.2, soybean meal, soybean oil, corn, etc.) from August 15 to August 21, 2025 are presented [39] - The inter - period spreads (5 - 1 month, 9 - 1 month, 9 - 5 month) of agricultural products (soybean No.1, soybean No.2, soybean meal, soybean oil, rapeseed meal, etc.) are shown [39] - The inter - variety spreads (soybean No.1/corn, soybean No.2/corn, soybean oil/soybean meal, soybean meal - rapeseed meal, etc.) of agricultural products from August 15 to August 21, 2025 are provided [39] Stock Index Futures - The basis data of stock index futures (CSI 300, SSE 50, CSI 500, CSI 1000) from August 15 to August 21, 2025 are given. For example, the basis of CSI 300 on August 21 was 5.87 [51] - The inter - period spreads (next month - current month, next quarter - current quarter) of stock index futures are presented [53]

2025年08月22日 国泰君安期货商品研究晨报-能源化工 | 观点与策略 | | --- | | 对二甲苯：趋势偏强，正套 | 2 | | --- | --- | | PTA：装置计划外停车，正套 | 2 | | MEG：趋势偏强 | 2 | | 橡胶：震荡运行 | 4 | | 合成橡胶：区间运行 | 6 | | 沥青：原油略强，裂解愈弱 | 8 | | LLDPE：区间震荡 | 11 | | PP：趋势偏弱，但低位追空要谨慎 | 12 | | 烧碱：偏多对待 | 13 | | 纸浆：震荡运行 | 15 | | 玻璃：原片价格平稳 | 17 | | 甲醇：区间震荡运行 | 18 | | 尿素：仍在区间震荡内，但上方压力逐步增加 | 20 | | 苯乙烯：压缩利润 | 22 | | 纯碱：现货市场变化不大 | 23 | | LPG：宏观情绪溢价支撑，进口成本预期上涨 | 24 | | 丙烯：供需收紧，价格存支撑 | 24 | | PVC：短期震荡，趋势仍有压力 | 27 | | 燃料油：震荡走势为主，短线转强 | 28 | | 低硫燃料油：偏弱怕盘整，外盘现货高低硫价差小幅反弹 | 28 | | 集运指数（欧 ...

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints - No clear core viewpoints are presented in the given content 3. Summaries by Related Catalogs Ferrous Metals - **Silicon Iron (SF51)**: The spot price is 5728, the futures price is 5622, the basis is 106, and the basis rate is 1.89% with a historical quantile of 70.60% [1] - **Silicon Manganese (SM601)**: The spot price is 6020, the futures price is 5836, the basis is 184, and the basis rate is 3.15% with a historical quantile of 56.80% [1] - **Rebar (RB2510)**: The spot price is 3402, the futures price is 3290, the basis is 112, and the basis rate is 5.04% with a historical quantile of 65.70% [1] - **Hot - Rolled Coil (HC2510)**: The spot price is 3430, the futures price is 3402, the basis is 28, and the basis rate is 0.82% with a historical quantile of 29.10% [1] - **Iron Ore (I2601)**: The spot price is 826, the futures price is 769, the basis is 57, and the basis rate is 7.35% with a historical quantile of 47.10% [1] - **Coke (J2601)**: The spot price is 1678, the futures price is 1624, the basis is 54, and the basis rate is 3.21% with a historical quantile of 32.64% [1] - **Coking Coal (JM2601)**: The spot price is 1175, the futures price is 1163, the basis is 12, and the basis rate is 1.03% with a historical quantile of 27.90% [1] Non - Ferrous Metals - **Copper (CU2509)**: The spot price is 79100, the futures price is 78890, the basis is 210, and the basis rate is 0.27% with a historical quantile of 67.29% [1] - **Aluminum (AL2510)**: The spot price is 20590, the futures price is 20545, the basis is 45, and the basis rate is 0.22% with a historical quantile of 63.12% [1] - **Alumina (AO2601)**: The spot price is 3245, the futures price is 3120, the basis is 125, and the basis rate is 4.01% with a historical quantile of 66.07% [1] - **Zinc (ZN2510)**: The spot price is 22205, the futures price is 22130, the basis is 75, and the basis rate is 0.34% with a historical quantile of 33.95% [1] - **Tin (SN2509)**: The spot price is 268090, the futures price is 266200, the basis is 1890, and the basis rate is 0.70% with a historical quantile of 10.41% [1] - **Nickel (NI2510)**: The spot price is 120825, the futures price is 120330, the basis is 495, and the basis rate is 0.41% with a historical quantile of 80.00% [1] - **Stainless Steel (SS2510)**: The spot price is 13270, the futures price is 12885, the basis is 385, and the basis rate is 2.99% with a historical quantile of 77.68% [1] - **Lithium Carbonate (LC2511)**: The spot price is 87540, the futures price is 85700, the basis is 1840, and the basis rate is 2.10% with a historical quantile of 27.31% [1] - **Industrial Silicon (212511)**: The spot price is 9250, the futures price is 8390, the basis is 860, and the basis rate is 10.25% with a historical quantile of 57.57% [1] Precious Metals - **Gold (AU2510)**: The spot price is 772.7, the futures price is 769.8, the basis is 2.9, and the basis rate is 0.37% with a historical quantile of 24.00% [1] - **Silver (AG2510)**: The spot price is 9042.0, the futures price is 9022.0, the basis is 20.0, and the basis rate is 0.22% with a historical quantile of 42.80% [1] Agricultural Products - **Soybean Meal (M2601)**: The spot price is 3160.0, the futures price is 2980, the basis is 180.0, and the basis rate is 5.70% with a historical quantile of 4.20% [1] - **Soybean Oil (Y2601)**: The spot price is 8500, the futures price is 8414.0, the basis is 86.0, and the basis rate is 1.02% with a historical quantile of 10.70% [1] - **Palm Oil (P2601)**: The spot price is 9554.0, the futures price is 9500, the basis is 54.0, and the basis rate is 0.57% with a historical quantile of 7.50% [1] - **Rapeseed Meal (RM601)**: The spot price is 2627.0, the futures price is 2610, the basis is 17.0, and the basis rate is 0.65% with a historical quantile of 44.50% [1] - **Rapeseed Oil (Ol601)**: The spot price is 9950, the futures price is 9828.0, the basis is 122.0, and the basis rate is 1.24% with a historical quantile of 49.40% [1] - **Corn (C2511)**: The spot price is 2260, the futures price is 2170.0, the basis is 90.0, and the basis rate is 4.15% with a historical quantile of 86.80% [1] - **Corn Starch (CS2511)**: The spot price is 2730, the futures price is 2489.0, the basis is 241.0, and the basis rate is 9.68% with a historical quantile of 94.60% [1] - **Live Hogs (H251)**: The spot price is 13850, the futures price is 13775.0, the basis is 75.0, and the basis rate is 0.54% with a historical quantile of 44.00% [1] - **Eggs (JD2510)**: The spot price is 3310, the futures price is 3072.0, the basis is 238.0, and the basis rate is 7.75% with a historical quantile of 51.20% [1] - **Cotton (CF601)**: The spot price is 15080, the futures price is 14055.0, the basis is 1025.0, and the basis rate is 7.29% with a historical quantile of 62.50% [1] - **Sugar (SR601)**: The spot price is 6030, the futures price is 5676.0, the basis is 354.0, and the basis rate is 6.24% with a historical quantile of 6.65% [1] - **Apples (AP510)**: The spot price is 8600, the futures price is 8064.0, the basis is 536.0, and the basis rate is 6.24% with a historical quantile of 42.00% [1] - **Jujubes (CJ601)**: The spot price is 11530.0, the futures price is 8300, the basis is 3230.0, and the basis rate is 28.01% with a historical quantile of 3.00% [1] Energy and Chemicals - **Paraxylene (PX511)**: The spot price is 6894.8, the futures price is 6844.0, the basis is 50.8, and the basis rate is 0.74% with a historical quantile of 40.20% [1] - **PTA (TA601)**: The spot price is 4778.0, the futures price is 4705.0, the basis is 73.0, and the basis rate is 1.53% with a historical quantile of 25.40% [1] - **Ethylene Glycol (EG2601)**: The spot price is 4515.0, the futures price is 4477.0, the basis is 38.0, and the basis rate is 0.85% with a historical quantile of 72.90% [1] - **Polyester Staple Fiber (PF510)**: The spot price is 6504.0, the futures price is 6490.0, the basis is 14.0, and the basis rate is 0.22% with a historical quantile of 40.20% [1] - **Styrene (EB2510)**: The spot price is 7285.0, the futures price is 7275.0, the basis is 10.0, and the basis rate is 0.14% with a historical quantile of 24.80% [1] - **Methanol (MA601)**: The spot price is 2424.0, the futures price is 2300.0, the basis is 124.0, and the basis rate is 5.12% with a historical quantile of 7.40% [1] - **Urea (UR601)**: The spot price is 1776.0, the futures price is 1770.0, the basis is - 6.0, and the basis rate is 0.34% with a historical quantile of 10.70% [1] - **LLDPE (L2601)**: The spot price is 7347.0, the futures price is 7255.0, the basis is 92.0, and the basis rate is 1.25% with a historical quantile of 4.00% [1] - **PP (PP2601)**: The spot price is 7056.0, the futures price is 7050.0, the basis is 6.0, and the basis rate is 0.09% with a historical quantile of 21.60% [1] - **PVC (V2601)**: The spot price is 5008.0, the futures price is 4720.0, the basis is 288.0, and the basis rate is 5.75% with a historical quantile of 8.70% [1] - **Caustic Soda (SH601)**: The spot price is 2655.0, the futures price is 2625.0, the basis is 30.0, and the basis rate is 1.13% with a historical quantile of 43.60% [1] - **LPG (PG2510)**: The spot price is 4478.0, the futures price is 4354.0, the basis is 124.0, and the basis rate is 2.85% with a historical quantile of 37.80% [1] - **Asphalt (BU2510)**: The spot price is 3530.0, the futures price is 3454.0, the basis is 76.0, and the basis rate is 2.20% with a historical quantile of 66.80% [1] - **Butadiene Rubber (BR2510)**: The spot price is 11900.0, the futures price is 11715.0, the basis is 185.0, and the basis rate is 1.58% with a historical quantile of 49.60% [1] - **Glass (FG601)**: The spot price is 1162.0, the futures price is 1072.0, the basis is 90.0, and the basis rate is 8.40% with a historical quantile of 34.03% [1] - **Soda Ash (SA601)**: The spot price is 1209.0, the futures price is 1309.0, the basis is - 100.0, and the basis rate is 8.27% with a historical quantile of 5.88% [1] - **Natural Rubber (RU2601)**: The spot price is 15675.0, the futures price is 14600.0, the basis is 1075.0, and the basis rate is 7.36% with a historical quantile of 23.75% [1] Stock Index Futures - **IF2509.CFF**: The spot price is 4271.4, the futures price is 4270.0, the basis is - 1.4, and the basis rate is 0.03% with a historical quantile of 58.30% [1] - **IH2509.CFE**: The spot price is 2851.2, the futures price is 2847.0, the basis is 4.2, and the basis rate is 0.15% with a historical quantile of 80.70% [1] - **IC2509.CFE**: The spot price is 6728.1, the futures price is 6695.2, the basis is - 32.9, and the basis rate is 0.49% with a historical quantile of 37.40% [1] - **IM2509.CFE**: The spot price is 7305.5, the futures price is 7276.0, the basis is - 29.5, and the basis rate is 0.40% with a historical quantile of 46.90% [1] Treasury Bond Futures - **2 - Year Treasury Bond (TS2509)**: The spot price is 102.32, the futures price is 100.26, the basis is 0.02, and the basis rate is 0.02% with a historical quantile of 34.10% [1] - **5 - Year Treasury Bond (TF2509)**: The spot price is 105.45, the futures price is 100.48, the basis is 0.06, and the basis rate is 0.06% with a historical quantile of 36.80% [1] - **10 - Year Treasury Bond (T2509)**: The spot price is 107.94, the futures price is 100.37, the basis is 0.05, and the basis rate is 0.05% with a historical quantile of 21.70% [1] - **30 - Year Treasury Bond (TL2509)**: The spot price is 131.12, the futures price is 116.24, the basis is 0.01, and the basis rate is