国债：尘埃落定，关注流动性

FED9M1 1109 Z0016413gaoxiang@nawaa.com 20111290 1. 1.1 T2412106.530.34%TF2412105.10.2%TS2412102.6280.11%TL2412112.950.76%2.1%4.1bp1.04bp1.42% FED9M1 1 109 1.211FOMC 1.2.1 FFR25bp4.5%-4.75%250+350MBS25bp4.75%50004.84.55%1600 2%Inflation has made furtherprogress toward the Committee's 2 percent objective but remains somewhatelevated.2%has gained greater confidencethat inflation is moving sustainably toward 2 percent Job gains haveslowSince earlier in the year, labor market conditions have generally eased remains solid recalibration2% 2%somewhat elevated We are not on any preset course.We will continue to make our decisions meeting by meeting. 1.2.2 1FOMC25bp2%2%9 29Data dependent but not data point dependent 3 FEDTrumpTrade 3FED 4 2. 2.1 2.2 7 / 136310008400 8888 910www.nanhua.net603093