Chongqing Bank | Daily Financial Report (March 16)

Many things seemed like setbacks at the time, but looking back, I realize everything was the best arrangement.

U.S. mortgage rates rise to 6.19%

According to the Mortgage Bankers Association (MBA), as of March 6, the contract rate for 30-year mortgages increased by 10 basis points to 6.19%, marking the largest rise since September 2025. As Iran’s war disrupts oil supplies and inflation concerns grow, borrowing costs are rising sharply, in tandem with the yield on the 10-year U.S. Treasury.

Germany’s industrial output down 1.6% year-over-year in January

Data from the Federal Statistical Office of Germany shows that, driven by a significant increase in automotive production, seasonally and working-day adjusted industrial output in Germany rose 2% month-over-month in January. However, after adjusting for working days, January’s industrial output was down 1.6% year-over-year. Additionally, the Federal Statistical Office revised the December 2025 month-over-month decline from 2.4% to 1.5%.

Global physical gold ETF inflows around $5.3 billion in February

According to the World Gold Council, in February 2026, global physical gold ETFs continued their inflow trend, adding about $5.3 billion, marking the strongest start to the year in recent years and the ninth consecutive month of net inflows. In February, total holdings of gold ETFs worldwide reached a record high, increasing by 26 tons to 4,171 tons. Gold prices further rose, boosting total global asset management under management (AUM) to $701 billion, a new record.

Cumulative China-Europe freight train departures reach 3,501 in the first two months

According to China State Railway Group, from January to February 2026, a total of 3,501 China-Europe freight trains operated, transporting 352,000 TEUs, representing year-over-year increases of 32% and 25%, respectively. The quantity and quality of shipments are both improving, and the international logistics brand of China-Europe trains continues to strengthen its market competitiveness.

Hong Kong and Shanghai collaborate to build an off-exchange gold central clearing system

Recently, the Hong Kong SAR Government’s Financial Services and the Treasury Bureau announced that Hong Kong is accelerating cooperation with the Shanghai Gold Exchange to develop an off-exchange gold central clearing system in Hong Kong. They also plan to increase Hong Kong’s gold reserves to over 2,000 tons in the next three years, further improving key aspects such as storage, clearing, trading, and product development to create a more complete gold market ecosystem.

Chongqing releases spring and autumn holiday arrangements for primary and secondary schools

Recently, the Chongqing Municipal Education Commission, together with relevant city departments, officially issued the “Guiding Opinions on Exploring the Implementation of Spring and Autumn Holidays in Primary and Secondary Schools,” marking the official implementation of Chongqing’s spring and autumn holiday policy starting in 2026. The policy states that each school year will have one spring and one autumn holiday, generally in April-May and November, each lasting 2-3 days, aligned with statutory holidays, weekends, minority festivals, sports events, and Labor Week.

Public mutual funds’ self-purchases exceed 900 million yuan this year

Data from Public Mutual shows that as of March 11, 2026, 42 public fund institutions have made 81 self-purchases of their own funds, totaling 945 million yuan, showing growth compared to the same period in 2025. Among these, 67 self-purchases involved equity funds, amounting to 714 million yuan, accounting for 75.56% of the total self-purchases.

Over 10 trillion yuan in interbank deposits may see interest rate cuts

Recently, the Market Rate Pricing Self-Discipline Mechanism convened a meeting with some banks, requiring strengthened self-discipline management. The proportion of interbank demand deposits exceeding the policy rate of 1.4% for reverse repos (7-day) at the end of the quarter should not exceed 10-20%, involving interbank deposits exceeding 10 trillion yuan.

New uses for ultra-long-term special government bonds

Recently, the Ministry of Finance revised the 2026 government revenue and expenditure classification, adding a new category under the government fund budget expenditure: “Expenditure from ultra-long-term special government bonds,” reflecting financial expenditures funded by the income from these bonds.

National retail sales of passenger cars hit 1.034 million units in February

Data from the China Passenger Car Association shows that in February 2026, retail sales of passenger cars nationwide totaled 1.034 million units, down 25.4% year-over-year. Among these, new energy passenger vehicle retail sales were 464,000 units, down 32% year-over-year.

Global PC shipments expected to decline 12% in 2026

Omdia’s latest forecast indicates that due to rising memory prices—potentially up to 60%—global desktop, laptop, and workstation shipments are expected to fall 12% in 2026, reaching 245 million units.

Global semiconductor sales to reach $791.7 billion in 2025

According to WSTS (World Semiconductor Trade Statistics), in 2025, global semiconductor sales increased by 25.6% year-over-year to $791.7 billion. It is estimated that in 2026, the global semiconductor market will continue to grow strongly, with a year-over-year increase of 26.3%, reaching $975 billion.

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