The yield of 2/10-year US Treasury bonds rose by more than 2 basis points. In late new york on Tuesday (December 10th), the yield of US 10-year benchmark treasury bonds rose by 2.32 basis points to 4.2244%, and the intraday trading was in the range of 4.1818%-4.2438%. The yield of two-year US bonds rose by 2.48 basis points to 4.1430%, and intraday trading ranged from 4.1099% to 4.1680%. The yield spread of three-month Treasury bonds /10-year US bonds rose by 3.624 basis points to -16.951 basis points. The yield spread of US bonds in 2002/10 was roughly flat, at +7.546 basis points. The yield of US 10-year inflation-protected treasury bonds (TIPS) fell by 0.90 basis points to 1.9233%.EIA: The net import of crude oil in the United States will drop by 20% in 2025. The us energy information administration (EIA) said on Tuesday that it is expected that the net import of crude oil in the United States will drop by 20% to 1.9 million barrels per day next year, which will be the lowest level since 1971, suggesting that the output of the United States will increase and the demand of refineries will decrease. EIA said in its Short-term Energy Outlook in December that the US oil production is expected to increase from 13.24 million barrels per day in 2024 to 13.52 million barrels per day in 2025. EIA also said that the crude oil processing capacity of refineries will be 16 million barrels per day in 2025, a decrease of 200,000 barrels per day compared with 2024. EIA now predicts that the average spot price of Brent crude oil in 2025 will be $73.58 per barrel, which is lower than the previous forecast of $76.06 per barrel. The average spot price of crude oil in the United States is $69.12 per barrel, which is lower than the last forecast of $71.60 per barrel.EIA: The net import of crude oil in the United States will drop by 20% in 2025. The us energy information administration (EIA) said on Tuesday that it is expected that the net import of crude oil in the United States will drop by 20% to 1.9 million barrels per day next year, which will be the lowest level since 1971, suggesting that the output of the United States will increase and the demand of refineries will decrease. EIA said in its Short-term Energy Outlook in December that the US oil production is expected to increase from 13.24 million barrels per day in 2024 to 13.52 million barrels per day in 2025. EIA also said that the crude oil processing capacity of refineries will be 16 million barrels per day in 2025, a decrease of 200,000 barrels per day compared with 2024. EIA now predicts that the average spot price of Brent crude oil in 2025 will be $73.58 per barrel, which is lower than the previous forecast of $76.06 per barrel. The average spot price of crude oil in the United States is $69.12 per barrel, which is lower than the last forecast of $71.60 per barrel.
CEO of Ferrari: We have seen opportunities in different countries, but we need to grow at the right speed. We still plan to launch (the first) electric vehicles in 2025.Brent crude oil futures closed at $72.19 a barrel, up 0.07%.Since December, overseas institutions have investigated 28 listed companies, focusing on three major industries. According to statistics, 32 overseas institutions have investigated 28 listed companies in the past seven trading days since December. Among them, Lubomai Fund has the largest number of research companies, and has investigated 3 listed companies, including Steady Medical, Shanghai Rural Commercial Bank and Weike Technology. In addition, four overseas institutions, including Manulife Finance, Boyu Capital and Leiya Investment, respectively investigated two listed companies. In terms of industries, overseas institutions mainly favor automobile, computer and mechanical equipment, with four research companies each, followed by electronics, food and beverage, medicine and biology, with two listed companies each being investigated by overseas institutions. According to statistics, Huichuan Technology, Desai Siwei, Hanzhong Seiki and Angang are the most concerned by overseas institutions, with 30, 8, 7 and 7 researchers respectively. According to the research activities, overseas institutions are mainly concerned about the competitive advantages of listed companies, the progress of internationalization, and the situation of reducing costs and increasing efficiency. (Securities Times)
Market information: Trump's nominee for finance minister, Bertrand Besson, said that Federal Reserve Chairman Powell can complete his remaining term.The "Debt Bull" was launched, and a number of treasury bonds futures reached new highs. According to the analysis, the downward trend of broad-spectrum interest rates is expected to continue to support the bull market in the bond market. On December 10, 30-year, 10-year, 5-year and 2-year treasury bonds futures all hit record highs. Looking at it for a long time, since the beginning of this year, 30-year treasury bond futures have risen by nearly 16%, 10-year treasury bond futures have risen by over 5%, and 5-year treasury bond futures have risen by over 3%. Analysts pointed out that the logic of broad-spectrum interest rate downward has run through the whole year of 2024, and it is expected to continue to form an important support for the bond market in the long run. The recent market strength is not only an emotional effect at the end of the year and the beginning of the year, but also a blocking point to dredge and guide the overall downward trend of interest rates. Shen Wanhongyuan believes that in the short term, profit-taking behavior may increase after the low interest rate, but this is not the core factor that dominates the market. Shen Wanhongyuan said that the rate cut of policy interest rate in 2025 may not be less than 30 basis points. After the deployment of relevant important meetings at the end of the year, specific policies may be gradually implemented in the first quarter of next year. According to Huaxi Securities, looking forward to 2025, the rate of single RRR cut and interest rate cut of monetary policy may not be less than 50 basis points and 20 basis points (the rate in 2024). (Securities Times)The rapid rise of long-term debt reflects the hot sentiment in the bond market. On December 10th, the transaction interest rate of the 10-year active bond "240011" further dropped to 1.84%, hitting a record low. By the close of the day, treasury bonds futures rose across the board, and the main contract of representative 10-year treasury bonds futures hit a record high. Experts said that the loose expectation of monetary policy and the strong demand for institutional allocation constitute an important supporting factor for the recent bond market to continue to go bullish. But at the same time, as bond prices rise and yields fall, market volatility may also rise. (CSI)
Strategy guide 12-14
Strategy guide
12-14