策略日报：恐慌情绪的修正-2025-04-01

Group 1: Major Asset Tracking - The bond market shows a mixed performance with long-term bonds rising and short-term bonds slightly declining. The market has stabilized near the six-month line, indicating potential for allocation [16] - The stock market saw the Shanghai Composite Index rise by 0.38%, with a correction in overly pessimistic sentiment. The pharmaceutical and controllable nuclear fusion sectors experienced significant gains [19] - The foreign exchange market reported the onshore RMB against the USD at 7.2684, up 165 basis points from the previous close, indicating a strong support level around 7.1 [26] - The commodity market saw the Wenhua Commodity Index increase by 0.8%, led by gains in oil, coal, and construction materials, while feed, oils, and live pig sectors declined [33] Group 2: Important Policies and News - Domestic policies include support for insurance companies to establish private equity funds for long-term stock market investments, reflecting a push for financial innovation [36] - The March Caixin China Manufacturing PMI rose to 51.2, the highest in four months, indicating continued expansion in manufacturing activities [36] - Internationally, the Australian central bank maintains a cautious outlook on monetary policy, emphasizing the importance of returning inflation to target levels [39]