blackjackcasino| Everbright Futures: Financial Daily, April 24

Stock indexBlackjackcasino:

Yesterday, the A-share market fluctuated slightly, and Wind closed down 0%.Blackjackcasino.46%, with a turnover of 780 billion yuan. CSI 1000 is down 0.Blackjackcasino.87%, CSI 500 down 1.39%, CSI 300 down 0.72%, SSE 50 down 0.53%. Recently, the central bank discussed the purchase of treasury bonds in the secondary marketBlackjackcasinoAs a result, market inflation expectations are likely to rise, and the index of small-cap stocks is expected to boost. Prior to this, the new edition of "National Nine articles" was released, which aims to further promote the overall and high-quality development of the financial market by strengthening the supervision of the capital market, so as to effectively protect the interests of investors. In the medium-and long-term dimension, the above measures will undoubtedly further improve the earnings quality of listed companies and promote the upward valuation center of A-shares as a whole. In addition, we have recently entered the end of the index earnings season, paying close attention to the impact of underperforming stocks on the index. In terms of basis difference, the IM2405 basis difference-66.63 Magi IC 2405 basis difference-22.67 Magna IF2405 basis difference 3.38 ~ IH2405 basis difference 4.06.

National debt:

Yesterday, treasury bond futures closed up across the board, with 30-year main contracts up 0.49% and 10-year contracts up 0.17%, with intraday record highs, while 5-year contracts rose 0.11%. 2-year contracts rose 0.03%. In terms of the open market, the central bank carried out 2 billion yuan 7-day reverse repurchase operation, as 2 billion yuan 7-day reverse repurchase expired, achieving zero release and zero withdrawal on the same day. Most of the interbank pledge repo rates fell. The 1-day variety was 1.7937%, up 1.26 basis points, and the 7-day variety was 1.8324%, down 0.27 basis points. The Ministry of Finance published an article saying that it supports the central bank to gradually increase the trading of treasury bonds in its open market operations. in the evening, the Financial Times issued a press release interviewed by the head of the relevant departments of the central bank, referring to the central bank's trading of treasury bonds in the secondary market. it can be used as a liquidity management method and a monetary policy tool reserve. As far as the bond market is concerned, the central bank's bond purchase in the secondary market has reduced the liquidity disturbance caused by the supply side of government debt to some extent, but as a way to enrich the policy toolbox, the central bank's buying and selling of treasury bonds is completely different from the quantitative easing (QE) operations of other central banks, which is good but limited to the bond market. In the short term, the situation of weak economic repair, easy money and no supply pressure continues, and the yield of short-term treasury bonds as a whole is still difficult to get rid of the current horizontal trend.

Precious metals:

Overnight gold and silver first suppressed and then rose. Us manufacturing PMI fell below the boom-bust line in April, with an initial value of 49.9, well below expectations of 52 and 51.9, the lowest level since December 2023. At the same time, factory cost pressures intensified and inflationary pressures emerged in April due to rising raw material and fuel prices. In addition, the U. S. short-term debt auction plan slightly exceeded expectations, indicating strong demand. The wobble of economic data has led the market to predict once again that the Fed will cut interest rates ahead of schedule, but judging from inflationary pressures, the Fed has actually shown a dilemma. Last night's gold price performance was more of a correction after a rapid decline in geopolitical factors. the suggestion is still operating with a medium-term adjustment mentality. Approaching May Day short holiday, in the face of the complex external environment, the volatility of the gold market may increase again, so it is recommended to reduce positions before the holiday.