Institution: A small interest rate cut by the European Central Bank may have a neutral impact on euro credit. Analysts of Yuxin Bank said in a report that the European Central Bank is expected to announce a 25 basis point interest rate cut tonight, which should have a neutral impact on euro-denominated credit. Analysts said that if the central bank cuts interest rates by 50 basis points further, it is unlikely to be beneficial to euro credit, because it will raise concerns about economic growth in the euro zone. According to the data of LSEG Refinitiv, the possibility that the market expects the European Central Bank to cut interest rates by 25 basis points is 83%, while the possibility of cutting interest rates by 50 basis points is 17%. Yuxin Bank said that as the European Central Bank continues to cut interest rates, the euro credit spread may fluctuate slightly or tighten slightly in the coming months.The Polish minister said that Poland hopes that more countries will participate in Baltic policing, the EU must spend at least 100 billion euros on national defense, and the conditions for sending Polish MIG -29 fighters to Ukraine have not been met.The RMB exchange rate is expected to appreciate again at the end of the year. The research team of the Financial Market Department of Agricultural Bank of China said that the market transactions have shown obvious narrative-driven characteristics in recent years. Considering some recent changes, the RMB exchange rate is expected to stabilize and rebound again in the future. First, the pricing of Trump transactions in the international market has come to an end. Second, there has been a major shift in domestic macro policies. Since late September, financial policies such as lowering the RRR, cutting interest rates, supporting the stock market and the real estate market, and fiscal debt measures have boosted market confidence. Third, there has been a favorable change in supply and demand in the domestic foreign exchange market. The end of the year is the traditional peak season for enterprises to settle foreign exchange, and the continuous forward discount will lead to the backlog of foreign exchange settlement, which will further amplify the demand for foreign exchange settlement at the end of the year. Further considering the overall situation of the game between China and the United States, Trump's return not only means the enhancement of external shocks, but also the upgrading of internal policies. The RMB exchange rate will maintain two-way fluctuations next year, and it is no longer a steady profit for enterprises to hold US dollars and postpone foreign exchange settlement. While stabilizing domestic foreign trade and foreign investment, continuing to expand high-level opening-up and expanding domestic demand in an all-round way implies the certainty of economic stabilization and recovery, which is expected to promote the return of short-term securities investment and medium-and long-term direct investment and help the RMB stop falling and rebound.
Treasury futures turned green for 30 years, and treasury futures turned down. The 30-year main contracts turned green and fell by 0.03% to 116.94. The 10-year main contract was reported at 108.17, and the increase narrowed to 0.02%.Schlegel, Governor of the Swiss National Bank: Since the last interest rate decision, the inflation rate has been lower than expected. The development of the Swiss franc is still an important factor.Schlegel, Governor of the Swiss National Bank: Since the last interest rate decision, the inflation rate has been lower than expected. The development of the Swiss franc is still an important factor.
Adobe's US stocks fell about 9% before the market, and the company's annual performance guidance was worse than expected.The OpenAI webpage shows that API, ChatGPT and Sora are all running normally.Since January 1, 2025, Chongqing maternity allowance has been issued to the insured female employees themselves. Recently, Chongqing Medical and Social Security Bureau issued the Notice on Adjusting the Payment Method for Maternity Insurance Benefits, and adjusted the payment method for maternity insurance benefits. From January 1, 2025, the application and method of maternity insurance benefits for the insured shall be applied by the insured himself or his client and issued to him by the medical insurance agency. In order to optimize the processing flow of maternity allowance, the service of "enjoy the maternity allowance immediately upon application" has been opened, that is, when the designated medical institutions in Chongqing settle the maternity medical expenses (delivery and termination of pregnancy), the medical insurance system automatically obtains the maternity-related information to calculate the maternity allowance, and the maternity allowance is paid to the insured after being approved by the medical insurance agency, and the insured or their clients do not need to provide relevant information to the medical insurance agency to declare the offline maternity allowance.
Strategy guide
Strategy guide