瑞达期货 发表于 2011-3-3 09:20

<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><B><SPAN style="FONT-SIZE: 14pt; FONT-FAMILY: 黑体; mso-hansi-font-family: 黑体; mso-bidi-font-size: 10.0pt">瑞达期货：<?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:chsdate Year="2011" Month="03" Day="03" IsLunarDate="False" IsROCDate="False" w:st="on"><SPAN lang=EN-US>03</SPAN>月<SPAN lang=EN-US>03</SPAN>日</st1:chsdate>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''">全球主要指数</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"><st1:chsdate Year="2011" Month="3" Day="2" IsLunarDate="False" IsROCDate="False" w:st="on"><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''">月</SPAN><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''">日</SPAN></st1:chsdate><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">收盘：上证指数</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2913.81</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">0.18%</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">3243.30</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">0.36%</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">6719.86</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">0.57%</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"> 23022.20</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">1.60%</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 7181.12 </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">0.58%</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">12066.80</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">0.07%</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">2748.07 </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">0.39%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">；</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''">人民币兑美元中间价</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">6.5730</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">30</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">基点；</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">CRB</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">678.90 </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">0.75%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">；</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">BDI 1281 </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">1.51%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-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-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">煤炭价格周指（</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">NEWC INDEX 131.71 </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">4.00%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">，</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">RB INDEX 118.79 </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">0.61%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">）</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>
<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">&nbsp;</SPAN></FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">中国央行周二公布的数据显示，今年</SPAN><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''">月金融机构新增外汇占款达</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">5,016.47</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">亿元人民币，环比增近</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">25%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">，该数据远高于外商直接投资与外贸顺差之和。</SPAN><SPAN lang=EN-US style="BACKGROUND: white; FONT-FAMILY: Verdana; mso-hansi-font-family: ''Times New Roman''">2010</SPAN><SPAN style="BACKGROUND: white; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: Verdana">年，中国金融机构外汇占款新增</SPAN><SPAN lang=EN-US style="BACKGROUND: white; FONT-FAMILY: Verdana; mso-hansi-font-family: ''Times New Roman''">32,682.14</SPAN><SPAN style="BACKGROUND: white; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: Verdana">亿元人民币，月均为</SPAN><SPAN lang=EN-US style="BACKGROUND: white; FONT-FAMILY: Verdana; mso-hansi-font-family: ''Times New Roman''">2,720</SPAN><SPAN style="BACKGROUND: white; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: Verdana">亿元左右。</SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><BR><FONT face="Times New Roman">2.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN></FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">中国国务院周三宣布将提高工资薪金所得税免征额</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''">起征点</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''">，并调整级距级次，以加强税收对收入分配的调节作用，进一步减轻中低收入者的税收负担。</SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><BR><FONT face="Times New Roman">3.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN></FONT></SPAN><SPAN style="BACKGROUND: white; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: Verdana">中国人民银行周三表示，将继续扩大跨境贸易人民币结算试点，力争将试点扩大至全国范围，同时亦会继续扩大本币互换和本币结算的协议的签订。</SPAN><SPAN lang=EN-US style="BACKGROUND: white; FONT-FAMILY: Verdana; mso-hansi-font-family: ''Times New Roman''"><o:p></o:p></SPAN></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><FONT face="Times New Roman">4.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN></FONT></SPAN><SPAN style="BACKGROUND: white; FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: Verdana">中国金融时报报导，中国住房与城乡建设部已初步拟定第三批执行限购令的城市名单，将逐渐向未出台限购的大中型城市以及交易活跃的三线城市扩展。此举意味着限购将成为覆盖全国范围的楼市调控重要措施，而执行力度将大大增强。</SPAN><SPAN lang=EN-US style="BACKGROUND: white; FONT-FAMILY: Verdana; mso-hansi-font-family: ''Times New Roman''"><o:p></o:p></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="BACKGROUND: white; FONT-FAMILY: Verdana; mso-hansi-font-family: ''Times New Roman''"><o:p>&nbsp;</o:p></SPAN></P>
<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''">瑞达国际宏观观点</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><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''">美联储昨日公布的褐皮书显示，美国经济温和增长，就业市场略有改善，企业成本在上升，制造业增长强劲。美国</SPAN><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''">月</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">ADP</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">就业人数增加</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">21.7</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">万人，好于预期。受北非局势及对欧洲央行加息预期升温影响，昨日利好因素并未提振美元。</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''">欧元区</SPAN><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''">月生产者物价指数月率上升</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1.5%</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">，创下</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1982</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">年以来的最大月率增幅。通胀压力锐增，加息预期升温。但鉴于欧元区整体经济形势，尤其是外围国家现状，预计欧洲央行今日将举行的利率会议仍将维持当前基准利率水平。</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''">利比亚暴力冲突加剧，昨日该国原油设施遭到空袭，市场担忧原油供应中断，此外美国能源部报告显示上周原油库存意外下降，昨日纽交所原油期货继续走高，避险黄金期货则再创新高。</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：美国</SPAN><st1:chsdate Year="2011" Month="2" Day="25" IsLunarDate="False" IsROCDate="False" w:st="on"><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''">月</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">25</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">日</SPAN></st1:chsdate><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">当周季调后初请失业金人数；美国</SPAN><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''">月</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">ISM</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">非制造业指数；欧元区</SPAN><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''">月零售销售；欧元区第四季度</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''">修正值；欧洲央行公布利率决议；澳大利亚</SPAN><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''">月季调营建许可；澳大利亚</SPAN><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''">月商品及服务贸易帐</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>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US style="BACKGROUND: white; FONT-FAMILY: Verdana; mso-hansi-font-family: ''Times New Roman''"><o:p>&nbsp;</o:p></SPAN></P>
<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''">、</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">4</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月份央票到期量分别为</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">6670</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">亿元和</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">4930</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">亿元，而</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">5</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月份仅有</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">1870</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">亿元，后续月份也都在</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">2000</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">亿元之下，</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">4</FONT></SPAN><SPAN style="FONT-FAMILY: 宋体; mso-hansi-font-family: ''Times New Roman''; mso-ascii-font-family: ''Times New Roman''">月份以后公开市场到期资金将大幅减少。再加上</SPAN><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''">月份外汇占款增速超预期，预计央行近期将通过上调存款准备金来回收流动性。</SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-US><o:p><FONT face="Times New Roman">&nbsp;</FONT></o:p></SPAN></P>
<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''">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（利好）；美国国债收益率（利好）；日本国债收益率（利空）；</SPAN><SPAN lang=EN-US><FONT face="Times New Roman">LIBOR</FONT></SPAN><SPAN styl
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