瑞达期货 发表于 2010-9-21 09:49

<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><B><SPAN style="FONT-SIZE: 14pt; FONT-FAMILY: 黑体; mso-bidi-font-size: 10.0pt; mso-hansi-font-family: 黑体">瑞达期货:<SPAN lang=EN-US>9</SPAN>月<SPAN lang=EN-US>21</SPAN>日宏观视点<SPAN lang=EN-US><?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p></SPAN></SPAN></B></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><B style="mso-bidi-font-weight: normal"><SPAN lang=EN-US><FONT face="Times New Roman">[</FONT></SPAN></B><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">全球主要股指</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">]<o:p></o:p></FONT></SPAN></B></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><FONT face="Times New Roman">9</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">20</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日收盘:上证指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2588.71</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">,跌</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.38%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">;沪深</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">300</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2849.83</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">,跌</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.40%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">;中小板指</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">6162.17</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">,跌</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.76%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">;恒生指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">21977.34</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">涨</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.03%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">;德</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">DAX 6294.58</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">涨</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1.37%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">;道琼工业</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">10753.60 </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">涨</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1.37%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">;纳斯达克</SPAN><SPAN lang=EN-US><FONT face="Times New Roman"> 2355.83</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">,涨</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1.74%</FONT></SPAN></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><B style="mso-bidi-font-weight: normal"><SPAN lang=EN-US><FONT face="Times New Roman">[</FONT></SPAN></B><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">瑞达国内宏观观点</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">]<o:p></o:p></FONT></SPAN></B></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-weight: bold; mso-bidi-font-family: 宋体">1. </SPAN><SPAN style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-weight: bold; mso-bidi-font-family: 宋体">欧元集团主席容克表示<SPAN lang=EN-US>10</SPAN>月<SPAN lang=EN-US>6</SPAN>日将在布鲁塞尔与温家宝和周小川会面,讨论汇率问题和货币政策。并表示人民币对欧元汇率仍被低估,欧洲需要向中方加大施压,以推动这一状况的改变。</SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美国总统奥巴马周一表示,中国未尽全力解决人民币问题。奥巴马的言论使美国对人民币汇改尖锐言辞继续升级,美国议员则正考虑通过新立法向中方施压。</SPAN><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-weight: bold; mso-bidi-font-family: 宋体"><o:p></o:p></SPAN></P>
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<P class=MsoNormal style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0cm; BORDER-TOP: medium none; PADDING-LEFT: 0cm; BACKGROUND: white; PADDING-BOTTOM: 0cm; MARGIN: 0cm 0cm 10.5pt; BORDER-LEFT: medium none; PADDING-TOP: 0cm; BORDER-BOTTOM: medium none; mso-border-alt: none black 0cm; mso-shading: windowtext; mso-pattern: solid white; mso-padding-alt: 0cm 0cm 0cm 0cm"><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-weight: bold; mso-bidi-font-family: 宋体">2. </SPAN><SPAN style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-weight: bold; mso-bidi-font-family: 宋体">今年以来,新兴产业政策、区域振兴规划持续成为资本市场关注的热点。以内蒙古资源、新疆基建投资、安徽产业转移、西藏经济增长为主的四大区域投资主题仍将成为市场的热点。<I><SPAN lang=EN-US><BR></SPAN></I><SPAN lang=EN-US>3. </SPAN></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">央行货币政策委员会委员夏斌表示,中国应该考虑允许存款利率自由浮动,以抵消通货膨胀上升的影响,而小幅加息在遏制物价上涨方面的效果并不明显。即使政府在此时上调利率,幅度也不会很大,因此在对实体经济很难奏效。</SPAN><SPAN lang=EN-US><BR><BR><FONT face="Times New Roman">4</FONT></SPAN><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-weight: bold; mso-bidi-font-family: 宋体">. </SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">中国指数研究院周一公布数据显示,上周</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">(9</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">13</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">-19</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">)</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">房市成交量多数上涨,多数城市已连续第四周出现上涨,</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">19</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">个城市价格环比上涨。同期,土地推出量增加,成交量环比微跌。</SPAN><SPAN lang=EN-US><BR><FONT face="Times New Roman">5</FONT></SPAN><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-weight: bold; mso-bidi-font-family: 宋体">. </SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">央行周日发布的季度调查结果显示,第三季度感觉物价“高,难以接受”的居民比例较上个季度略有下降,但预期未来物价上涨的居民有所增加。此外,当季有</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">72.2%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">的居民认为房价“过高,难以接受”,较上个季度略降</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.3</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">个百分点,不过较上年同期高</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">7</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">个百分点。未来</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">3</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">个月有购房意愿的居民占比为</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">15.6%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">,该比例与上个季度持平。</SPAN><SPAN lang=EN-US><BR><BR><FONT face="Times New Roman">6</FONT></SPAN><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-font-kerning: 0pt; mso-bidi-font-weight: bold; mso-bidi-font-family: 宋体">. </SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">香港二季度</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">GDP</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">同比实质上升</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">6.5</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">%</SPAN><FONT face="Times New Roman"> </FONT><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">,而第一季度的同比升幅为8%。由于客运及货运齐升,运输、仓库及通讯业第二季度的净产值升幅加快。股票市场出现整固以及集资活动转趋淡静致使金融、保险、地产及商用服务业第二季度的净产值升幅放缓。受到公营部门工程提速所带动,建造活动显著增加。</SPAN></P></DIV>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><FONT face="Times New Roman">1. </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美国</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">9</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月全国住房建筑商信心指数持平于</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">13</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">,该数据是一年半以来的最低水平,显示在住房市场停滞的环境下,多数建筑商信心持续低迷,对住宅销售前景持悲观态度。</SPAN></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><FONT face="Times New Roman">2. </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">欧盟经济和货币事务专员</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">Olli Rehn</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">周一称,欧盟委员会</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">(European Commission)</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">将在</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">9</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月份公布欧元区财政政策紧缩提案。该提案将令各业已实施趋紧财政政策的成员国承受更大压力。</SPAN></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><FONT face="Times New Roman">3</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">.澳大利亚央行行长</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">Glenn Stevens</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">周一表示,央行可能需要通过加息来抑制澳大利亚经济走强。由于一些国外的不确定因素,本月</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">7</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日的澳联储推迟加息行动,由于澳洲经济正受到</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">19</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">世纪以来最大的采矿和能源热潮推动,而且通胀有反弹迹象,所以预计今年年内加息的可能性非常大。</SPAN></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">今日关注重点:美联储公布利率决议;澳洲联储公布</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">9</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月货币政策会议记录;英国</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">8</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月政府收支短差;加拿大</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">8</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月消费者物价指数</SPAN></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt 10.95pt; TEXT-INDENT: -10.95pt; mso-char-indent-count: -1.04"><B style="mso-bidi-font-weight: normal"><SPAN lang=EN-US><FONT face="Times New Roman">[</FONT></SPAN></B><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">观点总结</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">]<o:p></o:p></FONT></SPAN></B></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">国内股市方面,沪综指周一小幅收低,尽管航空和金融板块受人民币升值及加息传言落空刺激走强,权重板块房地产股跌幅居前拖累大盘。中国官方表态继续落实楼市调控政策,且部分投资者在长假前无心恋战。</SPAN><SPAN lang=EN-US style="COLOR: black; mso-bidi-font-size: 10.5pt"><o:p></o:p></SPAN></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">国外方面,欧元</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">美元(利好);美元</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日元(利空);美指(利空);德国国债收益率(利空);美国国债收益率(利好);日本国债收益率(利好);</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">LIBOR</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: '

林子 发表于 2010-9-21 14:21

<FONT face=宋体>投资者在长假前无心恋战。<SPAN lang=EN-US style="COLOR: black; mso-bidi-font-size: 10.5pt"><?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p></SPAN></FONT>
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