【中国银河】全球大类资产配置周观察：美联储降息预期变化，多数资产价格受益-250119（12页）.pdf

1、?2025?1?19?l?分?性?克德?德楼?点?l?续?德?德?类 TikTok?分?点?绪?德?点?续?全?德?德?点?绪?德楼?l?续?德?CPI?.?%?类?绪?绪?点?受?德?德?续?德?绪?点?德?l?续?德?.?%?分?绪?德?点?受?德?续?点?绪?续?德?点?l?德?点?德?CPI?.?%?点?l?德?(?010-8092-7696*?yangchao_?S?2025-01-14?2025?2024-12-31?2025?分?2024-12-27?2025?2024-12-26?2025?A?2024-12-19?12?2024-12-13?2024-12-09?12?202

2、4-11-20?2024-11-19?2025:?2024-11-13?A?2024-11-08?2024-11-08?2024-11-06?2024-11-03?A?2024?A?1?Catalog?.?.?.?.?.?.?.?.?.?.?.?.?.?.?.?2?全?点?德?类?德?CPI?.?%?德?德?德?劲?德?德?GDP?%?全?GDP?.?%?分?意?分?性?克德?德楼?点?DCE?.?%?SHFE?.?%?.?%?LME?.?%?德 CAC?.?%?.?%?.?%?德 DAX?.?%?STOXX?.?%?德?.?%?CBOT?.?%?.?%?.?%?LME?.?%?德?.?.?%

3、?.?%?CBOT?.?%?.?%?ICE?.?%?NYMWX WTI?.?%?CBOT?.?%?LME?.?%?COMEX?.?%?.?%?.?%?.?%?.?%?.?%?.?%?COMEX?.?%?SENSEX?.?%?NYMEX?.?%?.?%?德德?1?2025?1?13?2025?1?17?分?BP?分?%?Wind?-20-15-10-50510DCE?SHFE?LME?德CAC40?德DAX?STOXX?德?100CBOT?500?LME?10?德?CBOT?ICE?NYMEX WTI?CBOT?LME?COMEX?COMEX?SENSEX30NYMEX?22510?德德?（%）

4、（BP）?3?续?德?CPI?.?%?点?德?受?续?德?TikTok?类?德?克?德?点?分?绪?德?点?COMEX?.?/?.?/?2?德?德?3?VIX?COMEX?Wind?Wind?4?分?5?Wind?Wind?1900210023002500270029001.01.52.02.53.02023-12-292024-01-292024-02-292024-03-312024-04-302024-05-312024-06-302024-07-312024-08-312024-09-302024-10-312024-11-302024-12-31?德?德?:10?（美元/盎司）（%）

5、190021002300250027002900102030402023-12-292024-01-292024-02-292024-03-312024-04-302024-05-312024-06-302024-07-312024-08-312024-09-302024-10-312024-11-302024-12-31?500?(VIX)?(?):COMEX?（美元/盎司）240002500026000270002800029000300002022-052022-082022-112023-022023-052023-082023-112024-022024-052024-082024-

6、11分?:?:?/?01002003004002023-12-292024-01-292024-02-292024-03-312024-04-302024-05-312024-06-302024-07-312024-08-312024-09-302024-10-312024-11-302024-12-31?（1985-2019年=100）?4 续?OPEC+?受?分?德?德?点?绪?德楼?WTI?.?/?BRENT?.?/?6?德 EIA?API?7?+19?分?德?分?Wind?Wind?续?德?CPI?.?%?德?类?绪?德?绪?点?受?德德?.?%?德德?.?%?-1000-500050