Stock index:

Yesterday, the A-share market generally rebounded, of which the small-cap index rose more significantly. Wind all-A closed up 3.Videopokervideo.06%, with a turnover of 920 billion yuan. CSI 1000 rose 4.Videopokervideo.36%, CSI 500 rose 2.85%, CSI 300 rose 1.55%, and SSE 50 rose 1.14%. Each index basically made up for the previous day's decline. In addition, CSI 2000 rose 6.66 per cent and the Wande microdisk index rose 9.68 per cent. Recently, the new edition of "National Nine articles" has been released, which is committed to further promoting the overall 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 this context, the Shanghai and Shenzhen stock exchanges issued a draft of stock listing rules to raise the entry threshold of financial indicators of listed companies and improve the dividend requirements of listed companies. At the same time, the CSRC issued the "opinions on the strict implementation of the delisting system", and the delisting requirements for illegal and illegal matters such as falsification of financial statements have become more stringent. In response to market concerns, the CSRC issued a statement late Tuesday that the delisting target adjustment is not aimed at small-cap stocks, but to a great extent stable.VideopokervideoThe mood of the market. 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 terms of basis difference, IM2405 basis difference-55.46 Magi IC 2405 basis difference-14.95 Magna IF2405 basis difference-2.4 Magi IH2405 basis difference 3.14.

National debt:

Most treasury bond futures closed up, the 30-year main contract rose 0.18%, the 10-year main contract rose 0.02%, the 5-year main contract closed flat, and the 2-year main contract closed flat. In terms of the open market, the central bank carried out a seven-day reverse repurchase operation of 2 billion yuan, and the winning interest rate was 1.8%, the same as before. Due to the 170 billion yuan 1-year mid-term loan facility (MLF) and 2 billion yuan 7-day reverse repurchase due, the net withdrawal of 170 billion yuan was achieved on the same day. Most of the inter-deposit pledge repo rates rose. The one-day variety was 1.7318%, up 1.61 basis points.VideopokervideoThe 7-day period was 1.8326%, up 1.71 basis points. Real GDP grew 5.3 per cent in the first quarter from a year earlier, higher than the 4.9 per cent expected by the market. Mainly driven by fixed asset investment, social zero fell in March under the high base last year, and the real estate market continued to be depressed. March economic data show that the current problem of insufficient demand still exists, and Treasury yields continue to fluctuate as a whole. In the short term, against the backdrop of loose money and the central bank's focus on long-term interest rates, the steepening of the yield curve for short-term government bonds is expected to continue.

Precious metals:

Overnight gold rose and fell back; silver followed suit. The Fed's beige book released last night showed that price increases were generally stable and moderate, with little change from the previous reporting period, with little increase in consumer spending, but consumer price sensitivity remained high. The Fed still actively manages market sentiment through expectations of interest rate cuts. In addition, the Fed is sending more signals to end quantitative tightening in the future, with the New York Fed warning that it may stop shrinking next year. The swaying interest rate cut expectations of the United States and geopolitical factors are still the main factors supporting gold, but from the perspective of overseas financial markets, the performance of risky assets such as US stocks and BTC is poor, and gold is also weak, indicating that the strong bullish atmosphere in the early stage is gradually turning neutral, at this time we should pay attention to the risk of correction under the crowded trading performance of bulls, and the risk of gold market chasing higher is increasing.