1、沪深两市8月20日总成交量为2.08万亿，较上一交易日回落，跌至20日均线（2.32万亿）下方。 2、8月20日衡量A股杠杆水平的融资买入额占A股流动市值之比反弹至10.35%，年内一直围绕着10%波动，但5月以来波动明显加剧。 -------- 注：1、两市成交量反映了各大机构、游资、广大散户对A股看法，高于均线代表总成交量升高，市场情绪偏乐观，低于均线代表总成交量下降，市场情绪降温。 2、2015年以来，A股杠杆水平大部分时候维持在6%-10%，杠杆率超过10%意味着市场活跃度较高，可能接近或者处于牛市。达到15%以上意味着市场有过热风险，需要警惕风险。

The US Treasury said it will increase the size of long-term Treasury buybacks to help stabilize the bond market. Freddie Mac reported the average 30-year fixed mortgage rate fell to 6.65% from 6.67% a week earlier; a year ago it was 6.58%. Borrowing costs remain a concern for prospective buyers as elevated inflation risk tied to the ongoing Iran conflict persists. A Realtor.com senior economist said moves at the long end of the yield curve highlight market concern about inflation and the fiscal outlook, which could push mortgage rates higher in coming weeks.

On Aug. 20 the White House said President Trump signed a memorandum directing U.S. spaceports and related facilities should be capable of supporting more than 1,000 launches and re-entries per year by 2030. The memo instructs agencies to expand and upgrade launch and re-entry infrastructure, open federal launch ranges to commercial users, encourage private investment and public‑private partnerships and joint infrastructure development, and accelerate facility permitting and environmental reviews. NASA is tasked with developing a commercial lunar logistics architecture, exploring commercial robotic Mars landings, and outlining architectures for commercial crewed round‑trip Mars missions.