股指期货早盘收盘，主力合约多数上涨。沪深300股指期货(IF)主力合约涨0.09%，上证50股指期货(IH)主力合约跌0.49%，中证500股指期货(IC)主力合约涨0.44%，中证1000股指期货(IM)主力合约涨0.84%。

Katy Gallagher, Australian Minister for Finance, says "uncertainty has made it more challenging to land the federal budget" as the impact of the Iran war comes through, prompting the government to focus on issues like securing fuel security, and resilience. She speaks with Bloomberg's Paul Allen in Canberra on "Bloomberg: The Asia Trade". (Source: Bloomberg)

根據美國白宮公布的行程，美國總統特朗普將於本周國事訪問中國期間，與國家主席習近平一同參觀北京天壇。天壇被列為世界文化遺產，是古代皇帝祭祀的場所。 根據中央電視台(CCTV)網站資料，明、清兩代皇帝在天壇祭祀，代表天、人之間的聯繫，皇帝成為天的兒子，天子的命令就是天命，而中國自古就流傳「天命不可違」的說法。天壇被認為是皇權的符號。建築特色之一的雷公柱，象徵著「皇權至上」。 天壇建於1420年，1998年被聯合國教科文組織列為世界文化遺產。中新社指，祈年殿是天壇的核心建築，皇帝會在該處祭天，祈求豐收。層層收攏的圓形屋頂直指天空，象徵「通天」思想。另一個重要建築是圜丘壇，也是祭天的地方。 有南京大學國際關係學者接受新加坡《聯合早報》訪問時指，特朗普的宗教意識很強，而天壇是古時舉行祭祀儀式的地方，相關行程很大程度上反映「特朗普的口味」。 美國前總統福特，以及澳洲總理阿爾巴內塞，亦曾分別在1975年和2023年訪華期間參觀天壇。

Worawee Meepian/iStock via Getty Images Executive Summary • We increased our overweight to mortgage-backed securities during the quarter; our MBS allocation has been a heavy contributor to our annual performance. For the quarter, Agency MBS spreads widened as volatility spiked due to the war in Iran, however, the sector still managed to have 16 basis points of excess returns to US Treasuries. Thus, our strong performance was primarily driven by our allocation to MBS. • Over the trailing 1-year period, Thrivent Government Bond Fund has outperformed the Bloomberg US Treasury Index by 109 bps due to an allocation to MBS and strong duration risk management. Performance factors During the quarter, the Fund outperformed the Bloomberg US Treasury Index by 4 bps. Our allocation to mortgage-backed securities (MBS), which saw spreads start the quarter tighter, ultimately widened into the volatility surge due to the war in Iran. Generically, MBS spreads underperform as rate volatility rises, thus with more uncertainty around geopolitical risks, we saw MBS spreads widen into quarter-end. However, due to the additional carry of MBS over US Treasuries, the excess return was still positive 16 bps for the quarter, contributing to the small outperformance of the Fund. For the quarter, rates moved higher, and the curve flattened. The 10-year rate closed 15 bps higher, while the 2-year rate was up 32 bps. Therefore, the 2-year versus 10-year US Treasuries curve movement was flatter by 17 bps, ending the quarter with a positive 52 bps basis. We had entered the quarter with a muted duration position; a similar curve and duration position versus the benchmark. We have added duration during the quarter and entered the 2nd quarter positioned for rates to rally. Duration positioning negatively contributed to performance of the Fund for the quarter. Over the last twelve months, the Fund outperformed the Bloomberg US Treasury Index by 109 bps. Consistent performance basically throughout 2025 ...

百度智能雲：已服務逾1000間AI硬件公司 AASTOCKS.com

Warren Buffett has been dispensing investment advice for over 70 years. Some might say his annual letters to Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) shareholders are required reading for anyone interested in learning how to build and manage a stock portfolio. While Buffett's no longer writing the annual letters for Berkshire (he left that duty to new CEO Greg Abel), he's still commenting on what he sees in the market. And in an interview at Berkshire Hathaway's shareholder meeting earlier this month, he provided a major warning for stock investors. Image source: The Motley Fool. Continue reading

百度智能雲：已服務逾1000間AI硬件公司財經新聞Financial News AASTOCKS.com

百度智能雲：已服務逾1000間AI硬件公司 AASTOCKS.com

百度智能雲：已服務逾1000間AI硬件公司 AASTOCKS.com

高盛表示，美元短期内料将进一步走强，能源价格冲击料将收益率维持在高位，而经济增长仍相对具备韧性 资料图：美元纸币。图：视觉中国

财联社5月13日讯（编辑 胡家荣） 受益于市场对PCB产业链关注度显著提升，相关个股领涨。 截至发稿，大族数控(03200.HK)涨5.65%，建滔积层板(01888.HK)涨4.59%，胜宏科技(02476.HK)涨2.41%。 消息方面，在AI算力基础设施建设全面提速的背景下，PCB行业迎来结构性增长机遇。东吴证券研报指出，AI算力需求井喷正从量与质两个维度重塑产业链价值。量方面，英伟达H200 GPU服务器大规模部署后，单台AI服务器PCB用量较传统服务器增长3-5倍，价值量提升8-12倍，PCB在AI服务器中的成本占比已从传统3%-5%跃升至8%-12%。 技术代际升级方面，英伟达预计2026年下半年量产的Rubin服务器将采用M9级CCL基材，直接推动HVLP4铜箔、碳氢树脂、Low-Dk电子布等高端材料需求进入新一轮爆发期，为产业链带来长期增长动力。 CCL价格持续上涨 受下游需求攀升及电子布、铜箔等原材料价格上涨影响，覆铜板(CCL)价格持续上行。4月28日，建滔集团宣布CCL涨价10%，继4月3日首次涨价10%后，月内实现二次提价，充分彰显头部企业成本转嫁能力与顺畅的顺价机制。 胜宏科技在机构调研中表示，公司目前在手订单饱满，业务进展顺利，订单生产和交付均正常履行。随着新产品层数增加、板厚增厚、材料等级提高等技术变化，PCB制造工艺要求大幅提高，部分工序加工时间更长、复杂度更高，对公司高端产能消耗显著增加。 胜宏科技明确表示将巩固现有核心客户合作基础，深化与科技巨头的战略合作，持续扩大GPU加速卡、TPU配套板等核心产品供应规模。目前在ASIC相关客户业务进展顺利，未来有望成为公司业绩增长的核心动力之一，充分把握AI算力基础设施建设带来的历史性机遇。

在Create 2026百度AI开发者大会上，百度集团执行副总裁、百度智能云事业群总裁沈抖披露，百度智能云去年成功支持了超过2000万辆L2级辅助驾驶新车交付。沈抖介绍，百度智能云通过芯云模体新全栈AI云，目前支持涵盖主机厂、电池、芯片、无人车等产业链领军企业的研发、训练、仿真、测试和量产交付多个环节，客户包括吉利、蔚来、宁德时代等。（人民财讯）

Source: Bloomberg, 21:40

由于对汉坦病毒安第斯型毒株传播方式仍存在不确定性，“洪迪厄斯”号邮轮上的乘客正以多种不同方式被遣返回国，这种分散应对反映出防控这场致命疫情的复杂性

日本周三公布的最新国际收支数据显示，日本投资者在3月份卖出美国国债，为连续第二个月卖出。 当月净卖出美国国债2.2万亿日元（140亿美元），2月净卖出2.77万亿日元。 3月份日本基金也净卖出了5206亿日元的德国主权债券，为2025年4月以来最大减持力度。 责任编辑：于健 SF069

According to its SEC filing dated May 11, 2026, Endeavour Capital Advisors increased its stake in National Bank Holdings Corporation (NYSE:NBHC) by 400,478 shares. The estimated transaction value was $16.05 million, calculated using the average share price for the quarter ending March 31, 2026. The value of the position at quarter-end rose by $15.88 million, reflecting both new purchases and share price movements. National Bank Holdings Corporation operates as a regional bank holding company with a diversified portfolio of financial services, focusing on both lending and deposit-gathering activities. Its strategy leverages a strong regional presence and a broad product offering to address the needs of businesses and individuals in its core markets. The company’s competitive edge is supported by its integrated treasury management solutions and a scalable branch and ATM network. Endeavour Capital’s focus is on regional banks, and it already had a substantial position in National Bank Holdings before its recent purchase. This was a relatively large addition to its portfolio, however, propelling it into the No. 4 position among its holdings. Continue reading

Trump, Xi to weigh rare earth truce extension, but China's curbs still bite Reuters

管理着580亿美元资产的美国知名财富管理平台Sanctuary Wealth的首席投资策略师玛丽·安·巴特尔斯（Mary Ann Bartels）日前表示，标普500指数将在2030年进入长期熊市，这将标志着一个长达20年的周期的开始，在此期间，股票回报率将接近于零。不过，巴特尔斯表示，她预计标普500指数在正式步入熊市之前，会先迎来一波“惊人”的涨幅。她估计，到2030年，标普500指数有望涨至10000-13000点。这意味着标普500指数将从当前水平再上涨高达75%。

格隆汇5月13日｜商业航天板块低开后震荡回升，航空航天ETF华夏(159227)涨0.95%，成交额达2.8亿元，居同类第一，持仓股华力创通涨14%，航发动力、航亚科技涨7%，该ETF已连续10个交易日获得资金净流入，合计“吸金”6.49亿元。通用航空ETF华夏(159230)涨1.24%。 5月商业航天板块迎密集发射与资本化提速： ①国内“超级发射潮”开启：5月国内商业航天发射排期密集，合计约8次任务。其中，长征十号乙可重复使用火箭计划5月中下旬首飞，验证海上回收技术；星河动力的“智神星一号”计划5月30日首飞；蓝箭航天的“朱雀三号”遥二箭计划在5-6月再次挑战一级回收。可回收技术是商业航天降本增效的核心，其进展直接关乎产业链订单预期与估值重估。 ②海外巨头动作频频：据外媒报道，SpaceX正与谷歌就火箭发射协议进行谈判。同时，SpaceX已于4月向美国SEC提交招股书，估值高达1.5万亿美元，有望在6-7月登陆纳斯达克，成为史上最大IPO之一，有望为全球商业航天资产定价提供新锚。 相关产品： 打包空天军工核心力量：航空航天ETF华夏(159227)，最新规模54.88亿元，规模居同标的第一，指数商业航天概念权重占比超70%，成份股包含光启技术（超材料隐身技术）、中航沈飞（歼击机整机制造）、航发动力（航空发动机）、中航成飞（无人机系统制造）、长城军工（兵装集团弹药及智能武器系统）等。 聚焦低空经济：通用航空ETF华夏(159230)，权重股包含万丰奥威、洪都航空、航天彩虹、中直股份等。

随着伊朗战争和霍尔木兹海峡几乎关闭导致供应中断，一家日本炼油商采购了墨西哥原油，为自2023年以来首次。

Chinese equities should have moderate upside over the next 12 months on improved earnings, more dominance in upstream supply chains globally and yuan strength against the dollar, Morgan Stanley says. The investment bank set new price targets for 2Q 2027 at 28,400 for Hang Seng, 91 for MSCI China, 9,900 for HSCEI and 5,400 for the CSI-300, which implies upsides of 8%, 12%, 11% and 11%, respectively. "The sheer size of opportunities in China's equity market at the single stock and thematic level – fueled by solid fundamentals and promising themes... should allow investors to construct a targeted Chinese portfolio that outperforms other peers," Morgan Stanley strategists led by Laura Wang said. The investment bank names stocks with strong tech and innovation capabilities as one of its top picks, citing the closer alignment with China's 15th Five-Year Plan, as well as those showing potential to make a bigger global footprint to meet energy demand. "Other catalyst-driven stock ideas, such as U.S.-China summit beneficiaries and Southbound inclusion, are also worth considering," it added. China's highly competitive supply chain also makes the country best positioned in the high-end power and green tech space, given that energy gets more priority globally amid the Middle East conflict, the strategists said. The investment bank reckons that China's focus on tech localization with policy support, particularly in the AI, semiconductor and bio-tech space, will be buoyed by ongoing China-U.S. competition. Meanwhile, the Trump-Xi meeting later this week may also lead to some "symbolic deliverables" such as selected sets of trade relaxations, and resumption of talks on issues which include fentanyl and climate, Morgan Stanley noted. "Moderate index level upside is possible as a result of this, as investors direct attention back to China somewhat, after being occupied by the ME/Hormuz situation, as well as the AI-related supercycle that has been making some neighboring markets stan...

Welcome To The World's Largest Aircraft 'Boneyard': Where B-52s & F-16s Are Laid To Rest Authored by Allen Stein via The Epoch Times, They are the dinosaurs of the modern age—hulking retired aircraft baking in the Arizona sun, stretching in rows across the desert. Once America’s defenders of the sky—B-52 Stratofortress and B-1B Lancer bombers, F-16 Fighting Falcon fighters, C-130 Hercules and C-5 Galaxy cargo planes—they now sit idle, preserved for parts or history. Maintaining and reclaiming these aircraft is no small task at the nation’s only military aircraft “boneyard.” At Davis–Monthan Air Force Base, the 309th Aerospace Maintenance and Regeneration Group (AMARG) oversees that work. “Most of these planes have been decommissioned, but the parts are still very useful. The parts are all viable,” public relations manager Robert Raine said during an April 21 tour of the 2,600-acre (4-square-mile) AMARG facility in Tucson. Each aircraft is secured for long-term storage, drained of fluids, stripped of explosive components, and preserved against the slow wear of the desert. Depending on the aircraft, some could be brought back into service, Raine said. Since 1964, the maintenance group has served as the sole designated storage, salvage, and disposal center for U.S. military and government organization aircraft. (Top) A row of military helicopters in storage at the 309th Aerospace Maintenance and Regeneration Group in Tucson, Ariz., on April 21, 2026. (Bottom) A C-5 Galaxy cargo plane with a 223-foot wingspan overshadows other military aircraft in storage at the “Boneyard” at Davis-Monthan Air Force Base in Tucson, Ariz., on April 21, 2026. Allan Stein/The Epoch Times The facility employs more than 700 workers and encompasses more than half a million square feet of industrial space. Here, aircraft come to die, hibernate, or be reborn, their components cleaned, repaired, and repurposed for use in other machines—for conflicts now and those yet to come. The facility opened...

财联社5月13日讯（编辑 马兰） 近几周来，现货原油与期货之间的溢价已经大幅收窄，从高峰时期的50美元/桶跌至接近平价，甚至略有折价。然而，这并不意味着原油危机已经得到解决。 现期货原油溢价的大幅收窄与炼油商调整采购行为有关，炼油商放弃采购近150美元/桶的现货原油，寄希望于美伊冲突能够尽快得到解决，霍尔木兹海峡可以尽快开放。 过去几周，炼油商降低了炼油厂的开工率，积极采购国际能源署协调释放的4亿桶战略储备原油，其中一些炼油厂还决定提前进行春季检修，为夏季生产高峰期做准备。 但分析人士指出，这种喘息之机可能十分短暂，随着炼油厂开工高峰期的临近，以及霍尔木兹海峡堵塞问题迟迟得不到解决，市场缓冲空间一旦耗尽，现货价格可能很快就会再次飙升。 缓冲有限 市场情报机构Sparta Commodities的高级石油市场分析师Neil Crosby指出，现货石油市场总体上并没有反映出灾难性的供应紧张局面。 现期货原油溢价收窄主要是因为亚洲买家进入最低需求模式。其中，中国市场的进口量大幅下降是压低石油价格的关键因素之一，官方数据显示，4月进口量预计为每日925万桶，这是2022年7月以来的最低水平。 Vortexa首席经济学家David Wech对中国原油需求下降的情况感到惊讶，并称其是这场历史上最严重的石油供应危机中市场重新平衡努力的支柱之一。然而，这种情况不可能持续太久。 Crosby还在一份报告中指出，实物原油溢价甚至低于2024/25年平均水平，考虑到目前的市场状况，这相当疯狂。 过去几周，买家不愿意购买昂贵的现货，以免美伊和平取得突破而导致溢价暴跌。但随着最新和平协议达成的希望逐渐破灭，炼油商和贸易商都将不得不出手采购，以应对即将到来的季节性高需求。

贝达药业5月12日在业绩说明会上表示，全球首个重组人白蛋白注射液（水稻）奥福民于2025年7月获批上市，公司已与禾元生物签署《药品区域经销协议》并启动区域商业化销售。该产品有效填补了临床血浆制品的供应缺口，具有广阔的市场前景。目前奥福民的商业化推广尚处于初期阶段，公司将结合市场准入、医院开发等工作，逐步扩大其覆盖范围。（人民财讯）

百度沈抖：百度智能雲去年支持超2000萬輛L2級輔助駕駛新車交付 Moomoo

百度沈抖：百度智能雲去年支持超2000萬輛L2級輔助駕駛新車交付 Moomoo

SCS Capital Management trims Broadcom Inc. stake by 6,503 shares TipRanks

受股票奖励价值缩水影响，英伟达首席执行官黄仁勋在2026财年的总薪酬下降27%至3630万美元 资料图：黄仁勋。图：视觉中国

海南板块震荡走强，金盘科技涨超10%，海南瑞泽、海南橡胶、海汽集团、新大洲A、中钨高新、海马汽车跟涨。