WTI crude rose 3.00% intraday to $81.85/bbl.

国外 1. 三菱日联：油价能否推升通胀成黄金短期走势关键。 2. 德意志银行：若美联储选择量化紧缩而非加息，美元可能走软。 3. 德意志银行：斯塔默向继任者移交的将是明显改善的英国经济。 4. 法兴银行：市场对欧洲央行鹰派定价已足够充分，欧债短端具配置价值。 国内 1. 中信证券：算电协同支撑国产算力高质量扩容。 2. 中信证券：预计原油短期走强后续仍大幅波动。 3. 中信证券：xAI中期增长将主要来自算力租赁与Cursor。 4. 中信建投：解锁不可成药靶点，RAS药物打开肿瘤治疗新格局。 5. 华西证券：大模型产业处于关键的商业化窗口期，关注三条投资主线。 6. 东方财富：市场正迎来今年的黄金买点。 7. 华泰证券：当前化工行业结构性机会凸显。

CSRC’s website shows the approval status for the first batch of active ETFs has changed to materials received and discloses the product names: Jianxin Competitive Advantage Active Management ETF; Guotai Xinhui Balanced Income Active Management ETF; Huabao Select Stable Equity Active Management ETF; ICBC Credit Suisse Dividend Active Management ETF; Dacheng Dividend Smart-Select Active Management ETF; Southern Large‑Cap Style Allocation Active Management ETF; Penghua Value Select Active Management ETF; Fullgoal Value Preferred Active Management ETF; China Merchants Value Smart‑Select Active Management ETF; Huatai‑PineBridge Value Select Active Management ETF; Tianhong Balanced Preferred Active Management ETF; Hua Xia Quality Value Select Active Management ETF; Huaan Quality Strict‑Select Active Management ETF; Yongying Prosperity Select Active Management ETF; Huitianfu Balanced Strategy Active Management ETF; E Fund Quality Future Active Management ETF; Ping An Industry Preferred Active Management ETF; Morgan Core Growth Active Management ETF. Most of the products are balanced-style mandates; a minority focus on growth.