美元/离岸人民币 (USDCNH) 加自选

根据中国汽车工业协会（CAAM）的数据，继5月份增长11.2%之后，2025年6月中国汽车销量同比增长13.8%。6月份新能源汽车销量激增26.7%，连续第四个月增长。2025年上半年，汽车总销量增长了11.4%，而新能源汽车销量增长了40.3%。全年汽车销量预计将增长4.7%，达到3290万辆，新能源汽车销量预计增长24.4%，达到1600万辆。2024年，汽车总销量增长4.5%，达到3143.6万辆，与2023年12%的增长率相比大幅放缓。

China's vehicle sales grew by 13.8% year-on-year in June 2025, following an 11.2% increase in May, according to data from the China Association of Automobile Manufacturers (CAAM). Sales of new energy vehicles (NEVs) surged 26.7% in June, marking the fourth consecutive monthly increase. In the first half of 2025, total vehicle sales climbed 11.4%, while NEV sales jumped 40.3%. For the full year, car sales are projected to grow by 4.7% to reach 32.9 million units, with NEV sales expected to rise by 24.4% to 16 million units. In 2024, total vehicle sales rose by 4.5% to 31.436 million units, a sharp slowdown from the 12% growth recorded in 2023.

周四，10年期美国国债收益率保持在4.33%左右，在10年期债券拍卖需求强劲的推动下，在前一交易日大幅下跌后趋于稳定。美联储最近一次会议的纪要还显示，大多数政策制定者对今年晚些时候降息持开放态度。此外，债券市场对唐纳德·特朗普总统要求将美联储基金利率下调300个基点的呼吁做出了回应，助长了对2026年鸽派美联储候选人的长期通胀预期和猜测。在贸易方面，特朗普以不公平的贸易行为为由，宣布自8月1日起对巴西进口商品征收50%的关税。他还向菲律宾、文莱、摩尔多瓦、阿尔及利亚、伊拉克、利比亚和斯里兰卡发出关税通知，从当天开始征收25%至30%的关税。市场现在期待与印度和欧盟达成潜在的贸易协议。

The yield on the 10-year US Treasury note held around 4.33% on Thursday, stabilizing after a sharp decline in the previous session, driven by strong demand in a 10-year bond auction. Minutes from the Federal Reserve’s latest meeting also revealed that most policymakers were open to cutting interest rates later this year. Moreover, bond markets responded to President Donald Trump's call for the Fed funds rate to be 300 basis points lower, fueling longer-term inflation expectations and speculation around a dovish Fed nominee in 2026. On the trade front, Trump announced a 50% tariff on Brazilian imports effective August 1, citing unfair trade practices. He also issued tariff notices to the Philippines, Brunei, Moldova, Algeria, Iraq, Libya, and Sri Lanka, imposing duties of 25% to 30% starting the same day. Markets now look ahead to potential trade agreements with India and the European Union.

上海50指数升至2762.00点，为2025年5月以来的最高点。在过去的4周里，上海50指数上涨了2.57%，在过去的12个月里，上涨了15.23%。

SHANGHAI 50 increased to 2762.00 Index Points, the highest since May 2025. Over the past 4 weeks, Shanghai 50 gained 2.57%, and in the last 12 months, it increased 15.23%.

美国总统唐纳德·特朗普周三宣布对铜征收50%的新关税，该关税将于8月1日生效。特朗普表示，此举是在“强有力的”国家安全评估之后做出的，该评估得出的结论是，关税对于保护被认为对多个行业至关重要的商品的国内生产是必要的。“铜是半导体、飞机、船舶、弹药、数据中心、锂离子电池、雷达系统、导弹防御系统甚至高超音速武器所必需的，我们正在建造其中的许多武器，”特朗普在Truth Social上的一篇帖子中说。根据美国地质调查局的数据，2024年，美国进口了81万吨精炼铜，几乎占其国内需求的一半。根据美国人口普查局的数据，智利、加拿大和墨西哥预计将受到新关税的影响最大，因为它们是2024年美国精炼铜、铜合金和铜产品的最大供应商。

US President Donald Trump announced on Wednesday a new 50% tariff on copper, set to take effect on August 1. Trump said the move followed a "robust" national security assessment that concluded tariffs were necessary to protect domestic production of a commodity deemed critical across multiple industries. “Copper is necessary for semiconductors, aircraft, ships, ammunition, data centers, lithium-ion batteries, radar systems, missile defense systems, and even hypersonic weapons, of which we are building many,” Trump said in a post on Truth Social. In 2024, the US imported 810,000 metric tons of refined copper—nearly half of its domestic needs—according to the US Geological Survey. Chile, Canada, and Mexico are expected to be most affected by the new tariff, as they were the top suppliers of refined copper, copper alloys, and copper products to the US in 2024, according to US Census Bureau data.