加皇资本市场分析师Tom Narayan写道，鉴于当前的地缘政治局势， 大众汽车 的2026年预期要求息税前利润率在4%-5.5%的宽泛区间内。该预期计入了30亿欧元的关税，这一数字是基于墨西哥27.5%的关税水平作出的假设。不过，得益于《美国-墨西哥-加拿大协定》的解决方案，情况可能会好于预期， 加拿大皇家银行 认为这很有可能。加拿大皇家银行补充说，4月份的投资者日将是一次重要的信息发布活动。第四季度及全年业绩基本符合预期。核心品牌和奥迪表现强劲，而保时捷则如预期般面临挑战，金融服务业务则受到一次性和解准备金的冲击。股价上涨2.6%。 责任编辑：何云

格隆汇3月10日｜腾讯音乐(TME.US)美股盘前涨2.8%报14.12美元。消息上，据悉，腾讯音乐已推出“鹅票票”购票平台，成为继猫眼、大麦后的又一票务新玩家。从平台界面可见，鹅票票在北京地区的各类演出内容，涵盖华语流行演唱会、怀旧金曲演出、艺术展览等多个品类。据了解，鹅票票已上架部分艺人演出售票窗口，成为演唱会购票的新渠道，为用户提供了更多购票选择。

这是2022年8月外贸增速跌入个位数之后首次重回两位数增长 于2025年顶住关税战压力保持正增长的中国外贸，今年开局再次展现出韧性。 据海关统计，2026年前2个月，我国货物贸易进出口总值7.73万亿元人民币，同比（下同）增长18.3%。其中，出口4.62万亿元，增长19.2%；进口3.11万亿元，增长17.1%。 第一财经梳理过去几年的月度进出口数据（按美元计）发现，这也是在2022年8月中国外贸增速跌入个位数乃至随后经历负增长之后，首次重回两位数增长。 超预期高增长的推动因素 上海财经大学公共政策与治理研究院首席专家杨畅对第一财经表示，今年开年中国外贸增长其实比较平稳，增速高主要因为去年基数低。而2025年前2个月基数低，则受到2024年末“抢出口”效应的影响——2024年11月，特朗普当选美国总统，行业对于加关税的预期或担忧迅速提升。 从金额看，杨畅分析称，考虑到春节错位，今年前2个月，出口合计金额约6565.78亿美元，月均金额约3282.89亿美元，还略低于2025年四季度均值3309.85亿美元，与2025年3-12月均值3232.78亿美元基本持平，表明出口相对平稳。这也意味着，重回两位数高增长的出口乃至进出口，主要受2025年同期基数走低的影响。 根据海关数据，2024年12月中国进出口、出口和进口分别为5664.16亿美元，3356.27亿美元，2307.89亿美元。其中，进出口较2024年11月、10月和9月的月度数值高出约400亿美元，出口和进口也均明显增加。 东方金诚宏观研究发展部执行总监冯琳也认为，今年年初两个月出口超预期高增，主要推动因素之一是春节错期导致上年同期出口基数偏低，而今年春节长假偏晚，2月节前赶工出口效应显著。另外，全球AI投资潮也带动了半导体产业链大幅涨价。作为我国最大单一出口商品，前2个月芯片（集成电路）出口金额同比增长72.6%，增速较前值加快24.8个百分点。与此同时，其出口数量同比增长13.7%，增速仅较前值加快1.8个百分点，“涨价”拉动效应明显。 国内制造业转型升级推动汽车、高技术产品出口高增亦是重要原因。根据海关数据，1-2月汽车出口数量、金额分别同比增长57.9%和67.1%，高技术产品出口金额同比增长26.9%。 机电产品不管是出口还是进口，均实现超过20%的增长：前2个月，我国出口机电产品2.89万亿元，...

【佛山市禅城区：推出面向公众的“小龙虾”免费部署服务】财联社3月10日电，佛山市禅城区政府官网刊发禅城区政务服务和数据管理局消息称，为助力市民进一步拥抱新技术、助力新经济，禅城区携手中国电信佛山分公司（简称“佛山电信”），推出面向公众的“小龙虾”（openclaw）免费部署服务。即日（3月9日）起，市民只需要携带个人电脑（支持macOS、Windows、Linux等跨平台）到中国电信禅城汾江南营业厅（或申请天翼AI云电脑服务），即可免费享受由中国电信客户服务工程师提供一站式服务，涵盖轻量化版本安装部署、模型配置及热门技能解锁。

德国初创企业 Polarise 计划新建一座 30 兆瓦 的人工智能数据中心，此举将使德国本土运营的算力规模翻倍。当前欧洲各国正力争在关键技术基础设施领域掌握更大自主权。 该公司向路透社表示，这座数据中心将于 2027 年年中 在巴伐利亚州安贝格市投入运营，未来最终可扩容至 120 兆瓦 。 据德国数字行业协会 Bitkom 数据，截至去年年底，德国境内人工智能数据中心总容量为 530 兆瓦 ，但其中大部分由非德国企业运营。 受全球紧张局势（包括关税争端、军事冲突）以及网络内容监管规则巨大差异的影响，欧洲国家正推动在数据及人工智能相关基础设施领域 提升主权掌控力 。 一期投资成本达 “数亿欧元级别” 该项目将成为德国最大数据中心之一，相关规划此前未对外披露。 谷歌 、 亚马逊 AWS 等大型科技企业通常运营规模在 100 兆瓦及以上的数据中心。 Polarise 目前在德国及海外运营 13 座 数据中心，该公司拒绝披露此次项目所需投资规模。 Polarise 营销总监马克・加齐沃达表示：“最终投资额很大程度上取决于有多少客户选择部署自有服务器或租赁算力。” 他补充称，该项目 未获得政府补贴 ，投资规模可能存在浮动。 据接近该公司的消息人士透露，项目一期成本将处于 **“数亿欧元区间”**，其中包含主体基础设施建设费用，但不包含芯片采购成本。最终造价将取决于所需芯片数量及具体型号。 德国电信 估算，Polarise 上月在慕尼黑启用的一座 12 兆瓦 数据中心耗资 10 亿欧元 （约合 11.6 亿美元）。该设施已使德国本土运营算力规模翻倍。 随着油价突破每桶 100 美元，高耗能数据中心的能源成本正受到越来越多关注。 Polarise 表示，其合作伙伴 WV Energie 将为该数据中心建设 风电与太阳能电站 ，并配备储能电池以实现电力临时存储。 责任编辑：郭明煜

文章提及标的 金开新能 -- 沪股通 -- 金开新能（600821）今日涨2.11%，成交额67.02亿元，换手率33.82%，盘后龙虎榜数据显示，沪股通（885520）专用席位买入1.19亿元并卖出1.36亿元，有2家机构专用席位净卖出4.60亿元。

文章提及标的 中曼石油 -- 沪股通 -- 中曼石油（603619）今日跌8.32%，成交额22.83亿元，换手率13.03%，盘后龙虎榜数据显示，沪股通（885520）专用席位买入7412.71万元并卖出8556.38万元，1家机构专用席位净买入4489.36万元，有2家机构专用席位净卖出1.15亿元。

文章提及标的 中远海能 -- 沪股通 -- 中远海能（HK1138）今日涨2.38%，成交额46.95亿元，换手率5.67%，盘后龙虎榜数据显示，沪股通（885520）专用席位买入3.10亿元并卖出2.28亿元，2家机构专用席位净买入2.03亿元，有3家机构专用席位净卖出3.95亿元。

P. Kijsanayothin/E+ via Getty Images By Min Joo Kang , Senior Economist, South Korea and Japan GDP revised up from 0.2% quarter-on-quarter to 1.3% annualised The upward revision to Japan’s fourth-quarter GDP was mostly due to strong business spending (1.3% vs flash 0.2%). Private consumption also rose a bit to 0.3% (vs flash 0.1%). Government spending is expected to rise in the current quarter, while energy subsidies and strong wage growth are set to boost private consumption. Inventory was a drag on growth for the second straight quarter. But we expect the restocking cycle to reverse and begin contributing positively to the current quarter. Downside risks increased, but we expect steady growth ahead thanks to government support Source: CEIC, ING estimates Household spending dropped unexpectedly, but underlying trend appears to remain firm Household spending unexpectedly dropped 1.0% year-on-year in January (vs -2.6% in December, 2.4% market consensus). The decline was mainly driven by significant declines in housing (-12.3%) and education (-22.6%). Meanwhile, spending increased in food (1.5%), furniture (13.5%), and culture and recreation (10.8%). Despite the soft headline, underlying spending on goods and private services still seems resilient. Combined with solid wage data (real wage growth of 1.4% YoY in January) from yesterday, recent trends support our view that private spending is expected to remain firm in the current quarter. Gasoline price hikes are limited despite the heavy dependence on Middle East oil Recent global oil price increases have had a limited impact on domestic inflation, largely due to government measures. Gasoline prices rose 2.4% between the end of February and 9 March, according to a price comparison website. There has been an acceleration in the last two days, but no queuing at gas stations, indicating that market sentiment remains controlled. The government has subsidised petroleum companies to stabilise prices. It also abolished the ga...

syahrir maulana/iStock via Getty Images The following segment was excerpted from Royce Small-Cap Opportunity Fund FY 2025 Manager Commentary. Five of the portfolio’s 10 equity sectors made a positive impact on performance in 2025, with Industrials, Information Technology, and Financials making the largest positive contributions were while Consumer Discretionary, Energy, and Consumer Staples had the biggest negative effect. At the industry level, aerospace & defense (Industrials), electronic equipment, instruments & components (Information Technology), and construction & engineering (Industrials) contributed most for the calendar year period, and IT services (Information Technology), textiles, apparel & luxury goods (Consumer Discretionary), and software (Information Technology) were the largest detractors. Our top contributor at the holdings level was nLIGHT ( LASR ) , which designs, manufactures, and sells a range of high-power semiconductor and fiber lasers that are typically integrated into laser systems or tools built by its manufacturing customers. The company also provides components and integrated solutions to high-energy laser systems for directed energy and laser sensing systems used in a wide range of defense applications. nLIGHT differentiates its business by its vertical integration, domain knowledge, and manufacturing capabilities to combine dedicated resources and facilities with deep technical expertise to deliver cutting-edge solutions, increasingly to government and defense organizations. Its shares have outperformed due to upward revisions to the outlook for its aerospace & defense customers. We remain constructive on the prospects for addressable market expanding product launches and a recovery in manufacturing-driven end-markets. Astronics Corporation ( ATRO )( ATROB ) supplies flight-critical electrical power, inflight entertainment and connectivity, lighting and safety, and test solutions to the aerospace, defense, and mass transit industries. ...

Key Points Tesla's electric-vehicle business produced declining sales in each of the last two years, driving a sharp drop in the company's revenue and earnings. Tesla's future products, like the Cybercab robotaxi and Optimus humanoid robot, are intriguing, but it could take years for them to achieve scale. Tesla stock is currently more expensive than every other stock in the $1 trillion club by a very wide margin. These 10 stocks could mint the next wave of millionaires › The U.S. is currently home to 10 companies valued at $1 trillion or more. These are: Nvidia: $4.4 trillion. Apple: $3.8 trillion. Alphabet: $3.6 trillion. Microsoft: $3 trillion. Amazon: $2.3 trillion. Meta Platforms: $1.6 trillion. Tesla (NASDAQ: TSLA) Broadcom: $1.5 trillion. Berkshire Hathaway: $1 trillion. Walmart: $1 trillion. However, one of them is substantially more expensive than the rest when measured by a key valuation metric. Considering this company's core business produced shrinking sales in each of the last two years, its premium valuation is increasingly difficult to justify. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » That company is Tesla. Investors have piled into the stock because the company's future product platforms, like the Cybercab autonomous robotaxi and the Optimus humanoid robot, have enormous potential. But here in the present, 73% of the company's total revenue still comes from its passenger electric-vehicle (EV) business, where demand continues to decline. Here's why I predict Tesla will drop out of the exclusive $1 trillion club before the end of 2026. EV sales declined at an accelerated pace in 2025 Tesla delivered 1.79 million EVs to customers in 2024, which was a 1% decline from the previous year. But in 2025, deliveries came in at 1.63 million cars, which was an even sharper year-over-year...

ORCL reports fiscal third-quarter 2026 results after the U.S. market closes on Tuesday, March 10, 2026, with management scheduled to host its earnings call at 4:00 p.m. Central Time. Ahead of the release, ORCL stock last traded at $151.56 on March 9, leaving it deep in correction territory and putting unusual weight on tonight's numbers, guidance, and commentary on AI infrastructure spending. That price tells an important story. Oracle stock is down about 22% in 2026 so far, and it is roughly 54% below its September 10, 2025, closing peak of $326.90. The market is no longer rewarding Oracle for AI excitement alone as investors now want proof that cloud demand, backlog growth, and heavy spending can translate into durable returns. Markets' Expectation for Oracle Earnings Today Metric Current setup Revenue About $16.9 billion expected Adjusted EPS About $1.70 to $1.71 expected Last reported cloud revenue $8.0 billion, up 34% Last reported OCI revenue $4.1 billion, up 68% Last reported RPO $523 billion, up 438% 2026 funding plan $45 billion to $50 billion Wall Street is looking for roughly $16.9 billion in revenue and about $1.70 to $1.71 in adjusted EPS. On the surface, that would imply a sharp improvement from the year-ago quarter, when ORCL reported $14.1 billion in revenue and $1.47 in non-GAAP EPS. Tonight's report is especially significant. ORCL's second-quarter results demonstrated strong cloud growth, with $8.0 billion in cloud revenue, $4.1 billion in cloud infrastructure revenue, and $523 billion in remaining performance obligations. However, the quarter also highlighted the increasing capital demands of AI expansion. Additionally, Oracle plans to raise between $45 billion and $50 billion in gross cash proceeds by 2026 to support the expansion of OCI. This funding strategy shifted the market's focus from growth alone to the quality of that growth. ORCL Stock Recent Performance: 1 Week, 1 Month, 6 Months Before analyzing potential impacts on the stock, it's he...

文章提及标的 *ST精伦 -- *ST精伦（600355）公告，公司股票2026年3月10日总市值为4.72亿元，已连续两日低于5亿元。根据《上海证券交易所股票上市规则》规定，公司股票存在可能因市值低于5亿元、股价低于1元被终止上市的风险。

European bonds rebounded on Tuesday as traders seized on a drop in energy prices to dial back the extreme moves seen at the start of the week. In the UK, bets on the direction of Bank of England policy took a U-turn, with prices now leaning toward an interest-rate cut this year instead of the hike envisaged on Monday. That sent gilts rallying, with the yield on 10-year notes tumbling nine basis points to 4.56%. Italian bonds led the recovery in the euro area, with equivalent yields falling 10 basis points to 3.51%. Traders are also fading wagers for European Central Bank interest-rate hikes, pricing in around 20 basis points of monetary tightening compared with more than a half percentage point at one stage on Monday. Soaring energy prices have hammered European markets since the war in Iran started over a week ago, threatening the worst energy supply shock since Russia’s invasion of Ukraine in 2022. Tuesday’s recovery follows a prediction from US President Donald Trump that the war will end soon, which sent oil and European natural gas prices lower. While the recovery in bonds is tentative, investors are keen to fade what many characterized as extreme moves. “Investors realize that the instability in the region could extend for a prolonged period, but focus is now whether it could soon become a regional conflict rather than one that could have profound impact on the global economy,” said Mohit Kumar , chief strategist for Europe at Jefferies. He said Monday’s moves in sterling and euro rates pricing were driven more by “position squaring” than fundamentals. Balyasny, Millennium, Point72 Hit by Iran Conflict in Wild Week Europe is particularly exposed to the fallout given its dependence on energy imports. As oil punched past $100 a barrel on Monday, the region’s bond yields jumped — while currencies sank — as traders raced to price the potential for accelerating inflation alongside a slowing economy. There was relief on Tuesday as benchmark natural gas futures fell ...

东方证券（HK3958）公告，近日收到中国证监会《关于同意东方证券（HK3958）股份有限公司向专业投资者公开发行次级债券注册的批复》，同意公司向专业投资者公开发行面值总额不超过150亿元次级债券。本次发行次级债券应严格按照报送上海证券交易所的募集说明书进行。批复自同意注册之日起24个月内有效，公司可在有效期内分期发行次级债券。

东方证券（600958）公告，公司于近日收到中国证监会《关于同意东方证券（600958）股份有限公司向专业投资者公开发行公司债券注册的批复》，同意公司向专业投资者公开发行面值总额不超过400亿元公司债券的注册申请。本次发行公司债券应严格按照报送上海证券交易所的募集说明书进行。批复自同意注册之日起24个月内有效，公司可在注册有效期内分期发行公司债券。

BING-JHEN HONG ASE Technology ( ASX ) reported consolidated net revenues for February 2026 of NT$52,097M ($1,653M), marking a 13.2% drop from January 2026 and a 15.9% Y/Y rise from February 2025. Net revenue from the ATM assembly, testing, and material segment came in at NT$34,972M ($1,110M), showing a 7.1% decline and a 28.0% Y/Y growth; in USD terms, revenue fell 7.2% sequentially but increased 32.8% Y/Y. ASE Technology ( ASX ) stock traded higher at $22.06 in pre-market. More on ASE Technology ASE Technology Holding Co., Ltd. 2025 Q4 - Results - Earnings Call Presentation ASE Technology Holding Co., Ltd. (ASX) Q4 2025 Earnings Call Transcript ASE Technology: AI Is Driving A Great LEAP Forward ASX January revenue jumps 21% Y/Y ASE Technology targets $3.2B LEAP revenue in 2026 driven by AI demand and advanced packaging

Cambria Investment Management L.P. grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 240.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,555 shares of the social networking company's stock after acquiring an additional 1,098 shares during the period. Cambria Investment Management L.P.'s holdings in Meta Platforms were worth $1,142,000 at the end of the most recent quarter. A number of other institutional investors have also modified their holdings of META. Norges Bank bought a new stake in Meta Platforms in the second quarter valued at about $23,155,393,000. Laurel Wealth Advisors LLC lifted its holdings in Meta Platforms by 73,443.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company's stock worth $6,212,506,000 after buying an additional 8,405,558 shares during the last quarter. State Street Corp grew its position in shares of Meta Platforms by 1.9% in the 2nd quarter. State Street Corp now owns 86,925,674 shares of the social networking company's stock worth $64,158,971,000 after acquiring an additional 1,650,435 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Meta Platforms by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company's stock worth $142,149,566,000 after acquiring an additional 1,532,568 shares in the last quarter. Finally, Concentrum Wealth Management grew its position in shares of Meta Platforms by 948.7% in the 3rd quarter. Concentrum Wealth Management now owns 1,243,577 shares of the social networking company's stock worth $913,000 after acquiring an additional 1,124,998 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock. Get Meta Platforms alerts: Sign Up Analyst Ratings Changes Several equities research analysts...

GW&K Investment Management LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,308 shares of the social networking company's stock after buying an additional 3,788 shares during the quarter. GW&K Investment Management LLC's holdings in Meta Platforms were worth $25,195,000 at the end of the most recent quarter. A number of other hedge funds and other institutional investors have also added to or reduced their stakes in META. Norges Bank purchased a new stake in shares of Meta Platforms in the 2nd quarter worth $23,155,393,000. Laurel Wealth Advisors LLC grew its holdings in Meta Platforms by 73,443.1% during the second quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company's stock valued at $6,212,506,000 after purchasing an additional 8,405,558 shares during the period. State Street Corp increased its position in Meta Platforms by 1.9% in the second quarter. State Street Corp now owns 86,925,674 shares of the social networking company's stock worth $64,158,971,000 after buying an additional 1,650,435 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Meta Platforms by 0.8% in the second quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company's stock worth $142,149,566,000 after buying an additional 1,532,568 shares during the period. Finally, Concentrum Wealth Management lifted its position in shares of Meta Platforms by 948.7% during the 3rd quarter. Concentrum Wealth Management now owns 1,243,577 shares of the social networking company's stock valued at $913,000 after buying an additional 1,124,998 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors. Get Meta Platforms alerts: Sign Up Insider Buying and Selling In related news, CFO Susan J. L...

全球最大石油出口商沙特阿美公司周二表示，如果伊朗战争继续扰乱霍尔木兹海峡的航运，全球石油市场将面临“灾难性后果”。 沙特阿美首席执行官阿明·纳赛尔在财报电话会议上对记者表示，这一扰乱不仅冲击航运和保险行业，还可能对航空、农业、汽车等多个行业产生严重的连锁影响。 纳赛尔指出，全球石油库存已降至五年来最低水平，当前危机将加快库存消耗速度，并强调恢复海峡航运至关重要。 他说：“全球石油市场将面临灾难性后果，而且干扰持续时间越长，对全球经济造成的冲击就越严重。” 纳赛尔还表示，上周针对阿美公司拉斯塔努拉炼油厂（其国内最大炼厂）的袭击引发了一场小型火灾，但火势已迅速被扑灭并得到控制，该炼厂目前正准备重新启动。 伊朗伊斯兰革命卫队周二表示，如果美国和以色列的攻击持续，他们将不允许“哪怕一升石油”从中东运出。对此，美国总统唐纳德·特朗普警告称，如果伊朗阻断这一关键能源产区的出口，美国将对伊朗进行更强烈打击。 纳赛尔发表上述言论之际，沙特阿美刚公布其年度利润下降12%，主要由于原油价格走低。公司还宣布将最多回购30亿美元股票，这是其首次实施股票回购计划。 责任编辑：陈钰嘉

ARK Invest CEO Cathie Wood is projecting a massive shift in global markets, predicting that post-war Iran and a transition into the “electric vehicle realm” will send oil prices plunging as geopolitical tensions ease. The ‘Coiled Spring’ Of The Middle East In her latest “In The Know” episode, Wood highlighted a 90% drop in Iranian missile and drone activity, suggesting the regime has been significantly diminished. This cooling of conflagration aligns with President Donald Trump's recent characterization of the conflict as “very complete.” Wood views Iran's young, well-educated population as a “coiled spring” ready to explode into the global tech economy once freed from repressive constraints. “You’ve got a coiled spring in terms of a population just really wanting to join this very exciting world, especially the world of technology and innovation,” Wood stated. Tesla And The $50 Oil Forecast Central to Wood’s thesis is the collapse of traditional energy dominance. She argues that the Middle East is aggressively diversifying because leaders recognize the impending dominance of autonomous mobility. Wood predicts oil, currently near $90, could drop “below $50 per barrel, and perhaps much lower over the next 5 to 10 years.” Palantir And The AI ‘PC Moment’ Wood noted that enterprise platforms like Palantir are helping companies navigate “all-at-once” moments in automation, driving a “step function increase” in productivity that could reach 5% annually. By combining Trump's signals of regional peace with the rapid adoption of AI, Wood suggests the market is climbing a “wall of worry” toward a technology-driven boom. TSLA, PLTR Underperform In 2026 Shares of Tesla have declined 11.35% year-to-date, it was up 14.90% over the last six months and 51.78% over the year. TSLA maintains a weaker price trend over the short and medium terms but a strong trend in the long term, with a solid quality ranking, as per Benzinga's Edge Stock Rankings. Meanwhile, Palantir was down 11.99% Y...

热景生物（688068）公告，控股子公司舜景医药自主研发的创新药（886015）SGC001注射液Ⅱ期临床研究完成首例受试者入组给药。SGC001是一款由舜景医药研发团队联合首都医科大学北京市心肺血管疾病研究所共同开发研制的急救用单克隆抗体药物，适用于急性心肌梗死(Acute Myocardial Infarction,AMI)患者的急救治疗。

加拿大皇家银行（RBC）的资本市场大宗商品策略全球主管Helima Croft认为，如果战事演变为持续数周的拉锯战，被关停的原油产能将迟迟无法重返市场

Airline SAS hikes prices on higher jet fuel cost following Iran war Reuters

在美国总统特朗普暗示伊朗战争或即将结束后，亚洲信用保护成本创下八个多月来最大跌幅。 交易员数据显示，周二亚洲投资级债券的 信用违约互换（CDS） 价格下跌 4 个基点。据 Markit iTraxx 指数数据，这是自去年 6 月下旬以来的最大单日降幅。 此前，特朗普称战争将 “很快” 结束，引发美国信贷市场反弹，并带动全球股市与整体风险情绪回升。此前两个交易日，亚洲 CDS 价格曾飙升超 7 个基点，因油价暴涨及中东冲突持续的担忧，加剧了市场对经济增长放缓与通胀反弹的恐慌。 “特朗普‘战争或很快结束’的言论，点燃了市场对中东冲突快速平息的希望，大幅提振了风险资产，” 瑞穗证券亚洲信贷策略主管马克・里德表示。“但我们认为，在导弹停火、石油运输恢复之前，利率与信贷市场的波动仍将持续。” 一级债券市场也显现初步回暖迹象。此前受市场剧烈波动影响，美欧发行人周一纷纷暂停发债。塔塔集团旗下捷豹路虎周二正与投资者举行会议，商讨潜在美元债券发行事宜。 责任编辑：郭明煜

Singapore Exchange Ltd . will launch futures tied to government bonds of some Asian countries as investors seek to hedge their risks. The bourse plans to launch the futures in the coming weeks, Singapore Exchange Chief Executive Officer Loh Boon Chye said at an event in Florida, confirming an earlier report by Bloomberg. “There’s clear demand,” he said. The rollout comes as bond markets tumbled amid anxiety about the global economy after crude oil prices surged. Loh added that there was already a growing divergence in monetary policy between different countries in the region before the Iran war. Such products would allow investors to hedge their exposure to interest-rate swings by buying or selling bonds at a later date on exchanges. Singapore Exchange plans to offer contracts on notes from India, Indonesia, Malaysia, Thailand and the Philippines, people familiar with the matter have said. The bourse will offer bond futures of three, five- and 10-year maturities per country, they said. The futures would be settled in dollars, with pricing based on average yield of a basket of no more than three sovereign bonds. Global funds continued to be net buyers of bonds in the Philippines and Thailand this year. Investors have also poured around $16 billion into India’s bonds since the country’s inclusion in JPMorgan Chase & Co.’s flagship index in June 2024, according to clearing house data compiled by Bloomberg. At present, the Singapore Exchange offers Japanese government bond futures, Singapore overnight rate average futures and Tokyo overnight average rate futures, according to its website. The bourse has ventured into new offerings in recent months, as it looks to expand into new segments popular with investors such as crypto futures. Read more: Singapore Bourse Targets Global Macro Funds in Japan Rates Push