【期货热点追踪】LME三个月期铜盘中一度跌至8月3日以来最低，随后在美国财政部扩大长债回购规模引发美元走弱的提振下反弹，库存急剧飙升，新奥尔良集中入库是否预示关税决定临近？

SSE 50 index futures (IH) most-active contract fell over 2.00% intraday to 2,848.2 points.

{"title":"Allianz\'s El-Erian: US Treasury buybacks lower long yields; watch for YIELD CONTROL risk, costs and short-lived effects","content":"Allianz chief economist El-Erian said long Treasury yields fell after the US Treasury expanded bond buybacks. He noted the buyback size is small in absolute terms and relative to net issuance, so the key market question is whether this foreshadows wider use of YIELD CONTROL. He warned YIELD CONTROL can suppress long-end yields and lower mortgage and other financing costs in the short term but carries side effects and unintended consequences. Such financial-engineering effects are typically short-lived; absent deeper policy changes, any yield compression is unlikely to be sustained."}