全球大类资产配置周观察：如何理解美国CPI和PPI的表征分化？

—— 20250817 “”CPIPPI9PMI7 010-8092-7696yangchao_yj@chinastock.com.cnS0130522030004 17PPI2 2025-08-06 2025-07-31 8+2025-07-31 79 2025-07-16 A2025-07-15 2025A 7PPI9GDPA 2025-06-26 2025 2025-06-22 2025 2025-06-21 2025A 9GDP 2025-05-07 2025-05-052025-05-04 Catalog 2025811815815CPICPI2PPI966PMI 7“”“” PPI 912PPIA 8.58%106.00BP 105.74BP4.55%CBOT4.41%2253.73%2.84%CAC402.33%1.74%1.70%1.65%STOXX1.56%5000.94%SENSEX300.93%DAX0.81%0.81%0.69%LME0.57%LME0.55%0.54%1000.47%ICE0.45%LME0.15%NYMEX WTI0.08%0.22%0.39%0.43%DCE0.84%SHFE0.84%COMEX1.32%CBOT1.73%CBOT2.04%COMEX3.12%NYMEX4.78% Wind 7PPI+0.9%97“—”“9” Wind Wind Wind Wind WTI62-65/Brent65.85/OPEC20252026 97 Wind Wind 7 7 Wind Wind 858.670.5%60.9%9 Wind Wind Wind Wind 7PMI72.5%129 Wind Wind Wind Wind A 20258118159GDP 2253.73%CAC402.33%1.74%1.70%1.65%2001.49%5000.94%SENSEX300.93%DAX0.81%0.81%0.49%1000.47%IBOVESPA0.31% Wind Wind Wind Wind 20258112025815BP%500COMEXAPIEIA7PPIPMI20PMIGDPCPICPI815815 82019“” 308820993181www.chinastock.com.cn 0755-83471683 chengxi_yj@chinastock.com.cn0755-83479312 suyiyun_yj@chinastock.com.cn021-60387901 luyunru_yj@chinastock.com.cn021-20252671 liyangyang_yj@chinastock.com.cn010-80927721 tianwei@chinastock.com.cn010-80927755 chuying_yj@chinastock.com.cn