<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><o:p><FONT face="Times New Roman"> </FONT></o:p></SPAN></P>
<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-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">全球主要指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">]<o:p></o:p></FONT></SPAN></B></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><o:p><FONT face="Times New Roman"> </FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><st1:chsdate Year="2010" Month="12" Day="27" IsLunarDate="False" IsROCDate="False" w:st="on"><SPAN lang=EN-US><FONT face="Times New Roman">12</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">27</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">日</SPAN></st1:chsdate><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">收盘：上证指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2781.40</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，跌</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1.90%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-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-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">3099.71</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，跌</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2.00%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">；中小板指</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">6593.00</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，跌</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2.53%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">；恒生指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman"> 22833.80</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，跌</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.30%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">；德</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">DAX 6970.73 </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">跌</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1.23%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">；道琼工业</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">11555.03 </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">跌</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.16%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">；纳斯达克</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2667.27 </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">涨</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.06%</FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><o:p><FONT face="Times New Roman"> </FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">人民币对美元中间价</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">6.6305</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，跌</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">66</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">个基点；</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">CRB</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">619.64 </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">涨</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.24%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">；</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">BDI -.- </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">跌</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">-.-%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">；</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">GlobalCoal</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">煤炭价格周指（</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">NEWC INDEX 124.75 </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">涨</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">6.57%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">RB INDEX 121.23 </FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">涨</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">7.88%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">）</SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><o:p><FONT face="Times New Roman"> </FONT></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><B style="mso-bidi-font-weight: normal"><SPAN lang=EN-US><BR><FONT face="Times New Roman">[</FONT></SPAN></B><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-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>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="COLOR: black; mso-bidi-font-size: 10.5pt"><BR></SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1.<SPAN style="mso-spacerun: yes"> </SPAN></FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">国家统计局周一公布，</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1-11</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月全国规模以上工业企业实现利润</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">38,828</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">亿元人民币，同比增长</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">49.4%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，增幅比</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1-10</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月份回落</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2.2</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">个百分点。</SPAN><SPAN lang=EN-US><BR><BR><FONT face="Times New Roman">2.<SPAN style="mso-spacerun: yes"> </SPAN></FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">积极财政政策继续留守</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2011</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">年，但财政赤字规模缩小方向已经基本确定。</SPAN><st1:chsdate Year="2010" Month="12" Day="27" IsLunarDate="False" IsROCDate="False" w:st="on"><SPAN lang=EN-US><FONT face="Times New Roman">12</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">27</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">日</SPAN></st1:chsdate><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">全国财政工作会议在京召开，部署明年积极财政政策的力度和方向。据悉，明年财政赤字将定在</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">9000</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">亿元的水平，比今年</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">10500</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">亿元的规模减少</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1500</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">亿元。</SPAN><SPAN lang=EN-US><BR><BR><FONT face="Times New Roman">3. <SPAN style="mso-spacerun: yes"> </SPAN></FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">明年</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">日起，境外旅客离境退税政策将正式在海南试点实施。退税率统一为</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">11%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，起退点为</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">800</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">元人民币。</SPAN><SPAN lang=EN-US><BR><BR><FONT face="Times New Roman">4.<SPAN style="mso-spacerun: yes"> </SPAN></FONT><st1:chsdate Year="2010" Month="12" Day="27" IsLunarDate="False" IsROCDate="False" w:st="on"><FONT face="Times New Roman">12</FONT><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''"><SPAN lang=EN-US>月</SPAN></SPAN><FONT face="Times New Roman">27</FONT><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''"><SPAN lang=EN-US>日</SPAN></SPAN></st1:chsdate><SPAN lang=EN-US style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">出版的《人民日报》在</SPAN><FONT face="Times New Roman">17</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">版以接近整版的篇幅，发表题为《土地财政不可持续》的文章。文章直指地方政府以地生财的做法，提出从制度层面解决地方政府“钱少事多”的现实难题，其中备受外界瞩目的房产税即为制度选择之一。据统计</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2009</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">年全国土地出让金收入相当于同期地方财政总收入的</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">46%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">左右。</SPAN><SPAN lang=EN-US><BR><B style="mso-bidi-font-weight: normal"><BR><FONT face="Times New Roman">[</FONT></B></SPAN><B style="mso-bidi-font-weight: normal"><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">瑞达国际宏观观点</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">]<BR style="mso-special-character: line-break"><BR style="mso-special-character: line-break"></FONT></SPAN></B></P>
<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-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">．美国昨日公布数据好坏参半，</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">11</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月芝加哥联储中西部制造业数据从</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">10</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月份的</SPAN><st1:chmetcnv w:st="on" TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="80.8" UnitName="升"><SPAN lang=EN-US><FONT face="Times New Roman">80.8</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">升</SPAN></st1:chmetcnv><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">至</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">81.1</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">；达拉斯联储公布的数据显示，</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">12</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月达拉斯联储商业活动指数增长放缓，从</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">11</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月的</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">16.2</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">下滑至</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">12.8</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，但就业指数从</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">11</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月份的</SPAN><st1:chmetcnv w:st="on" TCSC="0" NumberType="1" Negative="False" HasSpace="False" SourceValue="5.8" UnitName="升"><SPAN lang=EN-US><FONT face="Times New Roman">5.8</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">升</SPAN></st1:chmetcnv><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">至</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">15.0</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">。美国经济的复苏动力仍然令人担忧。</SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><o:p><FONT face="Times New Roman"> </FONT></o:p></SPAN></P>
<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-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">欧元区</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">11</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月谘商会领先指标综合指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">11</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月份上升</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.7%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，至</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">114.3</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，该数据暗示</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2011</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">年上半年经济活动将持续扩张；但政府削减开支对经济增长的抑制作用将会日趋明显，未来经济增长仍充满不确定性。</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-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">英国</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">12</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月房价指数月率下降</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">0.4%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">，为连续第</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">6</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">个月下降，抵押贷款条件严格，需求持续疲弱，</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2011</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">年英国房地产市场持续疲软的可能性较大。</SPAN></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">今日关注重点：美国</SPAN><SPAN lang=EN-US><FONT face="Times New Roman"> 12</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月里奇蒙德联储制造业指数；法国第三季度</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">GDP</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">终值；日本</SPAN><SPAN lang=EN-US><FONT face="Times New Roman"> 11</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月全国消费者物价指数；日本</SPAN><SPAN lang=EN-US><FONT face="Times New Roman"> 11</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月失业率；日本</SPAN><SPAN lang=EN-US><FONT face="Times New Roman"> 11</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">月零售销售</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-ascii-font-family: ''Times New Roman''; mso-hansi-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-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">最近五日，人民币悄无声息地走上升值道路，预计受加息后中美利差扩大以及明年加大进口等利好因素的影响，人民币对美元有一定的上升空间。</SPAN></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">欧元</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">美元（利空）；美元</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">/</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''Times New Roman''; mso-hansi-font-family: ''Times New Roman''">日元（利好）；美指（利好）；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-U ddddddddddddddddddddddd
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