window.pageData = {"stock":{"_id":3000000011968,"stockCode":"011968","shortName":"农银金盛债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","fundCollection":{"exchange":"jjgs","stockType":"fund_collection","stockCode":"50600000","tickerId":50600000,"name":"农银汇理基金管理有限公司"},"managers":[{"name":"郭振宇","stockType":"fund_manager","stockCode":"db20668224","exchange":"fm","tickerId":72625197580}],"hotMetrics":{"fss":{"stockId":3000000011968,"type":"fss","f_s_s_d":"2024-06-29T16:00:00.000Z","f_ins_h_s_r":0.9990000000000001,"f_ins_h_s_r_c_hy":0.0006000000000000449,"f_ins_h_s_r_c_1y":0,"f_ind_h_s_r":0.001,"f_ind_h_s_r_c_hy":-0.0006000000000000001,"f_ind_h_s_r_c_1y":0,"f_h_a":531,"f_h_s_a":25030201,"last_data_date":"2025-12-30T16:00:00.000Z"},"fpr":{"stockId":3000000011968,"type":"fpr","f_p_r_fys_ssc":7425,"f_p_r_fys_ssrp":0.2746497844827586,"f_p_r_m1_ssc":7697,"f_p_r_m1_ssrp":0.2017931392931393,"f_p_r_m3_ssc":7587,"f_p_r_m3_ssrp":0.12694437121012392,"f_p_r_m6_ssc":7445,"f_p_r_m6_ssrp":0.15542718968296615,"f_p_r_y1_ssc":7024,"f_p_r_y1_ssrp":0.31112060373059947,"f_p_r_y2_ssc":6110,"f_p_r_y2_ssrp":0.2586348011131118,"f_p_r_y3_ssc":5019,"f_p_r_y3_ssrp":0.22817855719410124,"f_cagr_p_r_fs_ssc":7417,"f_cagr_p_r_fs_ssrp":0.2371898597626753,"f_p_r_y5_ssc":3462,"f_p_r_y5_ssrp":0.18289511701820282},"fp":{"stockId":3000000011968,"type":"fp","f_p_r_fys":0.018567567619674374,"f_p_r_m1":0.0020622606304625535,"f_p_r_m3":0.008474831987716147,"f_p_r_m6":0.017058131390243814,"f_p_r_y1":0.023809552583524463,"f_cagr_p_r_fs":0.03629155886786006,"f_p_r_d1":-0.00019333011116484666,"f_p_r_y2":0.06071680830595816,"f_p_r_y3":0.10806404786513446,"last_data_date":"2026-07-26T16:00:00.000Z","f_i_d":"2021-06-28T16:00:00.000Z","f_p_r_y5":0.19175968753070727},"ff":{"stockId":3000000011968,"type":"ff","f_m_f":13092574,"f_m_f_r":0.003,"f_c_f":4364191,"f_c_f_r":0.001,"f_m_a_c_f":17456765,"f_m_a_c_f_r":0.004,"f_m_c_f_d":"2024-06-29T16:00:00.000Z","f_c_fr":0.0007,"f_fr_d":"2026-06-28T16:00:00.000Z","f_m_fr":0.002,"f_mac_fr":0.0027},"f_nlacan":{"stockId":3000000011968,"type":"f_nlacan","f_nv_d":"2026-07-26T16:00:00.000Z","f_nv":1.0204,"f_nv_cr":-0.0000979911807936773},"f_as":{"stockId":3000000011968,"type":"f_as","f_tas":15399178342.3485,"f_tas_d":"2026-06-29T16:00:00.000Z"}},"masterSlaveFunds":[],"bondHoldings":[{"_id":"6a5dd8f084efc9493b46f46e","date":"2026-06-29T16:00:00.000Z","declarationDate":"2026-07-19T16:00:00.000Z","fundId":3000000011968,"stockCode":"260005","stockName":"26附息国债05","holdings":18000000,"marketCap":1814384088,"netValueRatio":0.1178,"lastUpdated":"2026-07-20T08:14:40.567Z"},{"_id":"6a5dd8f084efc9493b46f46f","date":"2026-06-29T16:00:00.000Z","declarationDate":"2026-07-19T16:00:00.000Z","fundId":3000000011968,"stockCode":"230407","stockName":"23农发07","holdings":16000000,"marketCap":1640046904,"netValueRatio":0.1065,"lastUpdated":"2026-07-20T08:14:40.571Z"},{"_id":"6a5dd8f084efc9493b46f470","date":"2026-06-29T16:00:00.000Z","declarationDate":"2026-07-19T16:00:00.000Z","fundId":3000000011968,"stockCode":"250210","stockName":"25国开10","holdings":7500000,"marketCap":755428767,"netValueRatio":0.0491,"lastUpdated":"2026-07-20T08:14:40.574Z"},{"_id":"6a5dd8f084efc9493b46f471","date":"2026-06-29T16:00:00.000Z","declarationDate":"2026-07-19T16:00:00.000Z","fundId":3000000011968,"stockCode":"09250202","stockName":"25国开清发02","holdings":7000000,"marketCap":704702273,"netValueRatio":0.0458,"lastUpdated":"2026-07-20T08:14:40.577Z"},{"_id":"6a5dd8f084efc9493b46f472","date":"2026-06-29T16:00:00.000Z","declarationDate":"2026-07-19T16:00:00.000Z","fundId":3000000011968,"stockCode":"230018","stockName":"23附息国债18","holdings":6100000,"marketCap":655671475,"netValueRatio":0.0426,"lastUpdated":"2026-07-20T08:14:40.580Z"}]},"list":[{"_id":"6a5dd68484efc9493b468db5","date":"2026-06-29T16:00:00.000Z","declarationDate":"2026-07-19T16:00:00.000Z","stockId":3000000011968,"sao":"2026年第二季度债市收益率整体窄幅波动。银行信贷需求继续下滑，提升了机构对债券配置的需求；但绝对收益率持续走低下，央行担忧过低利率可能影响金融体系稳定，通过货币政策微调调整债券投资者的做多预期。债市整体难上难下，组合整体以骑乘策略为主，重点配置2-4年和7-9年政策性金融债，整体保持中性偏积极久期，并灵活开展10年和30年的长债交易。尽管并未完全把握交易性机会，但偏积极的骑乘策略依旧取得了一定的收益。　　展望2026年下半年，经济压力升温下中央是否继续推出一定的经济刺激政策是债市波动的关键。央行整体仍以观望态势为主，但隔夜逆回购的推出小幅提升了下半年降息的可能性。在缺乏一揽子刺激政策下，经济有可能再度转为下行，阶段性提升了一定长债交易性机会。预计债市整体延续震荡走势，组合拟继续以骑乘配置为主，波段交易为辅，以求积极提升组合的超额收益。","lastUpdated":"2026-07-20T08:04:20.899Z","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2026年第二季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1527235","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69e7d5816201787ae129f28a","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-20T16:00:00.000Z","stockId":3000000011968,"sao":"2026年第一季度债市收益率整体震荡下行。受实体需求疲软影响，银行信贷新增有限，机构对债券的配置需求大幅增加；央行维持流动性合理宽松，银行整体流动性宽裕，压制了债券收益率上行；但与此同时，通胀预期开始升温，小幅制约债券做多情绪。组合在一季度担忧通胀预期演绎，大幅降低久期和仓位，但市场在月初三个交易日调整后开始持续下行，组合错失了收益率下行的大部分行情，整体跑输市场；随后在二月份调整后组合积极增加久期和仓位，及时把握了10年内债券收益率整体下行的行情。　　展望2026年二季度，通胀预期演绎仍然是决定债市走势的关键。货币政策整体保持稳定，尽管仍有降准降息预期，但在通胀有所回升的基础上，央行仍以按兵不动为主。预计债市大概率继续延续震荡走势，挖掘利差仍是市场主要策略，同时在收益率波动区间有限下，组合拟积极开展波段交易，争取进一步提升组合的超额收益。","lastUpdated":"2026-04-21T19:52:33.181Z","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2026年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1471518","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69ca13f40daeb17084fb2a7d","date":"2025-12-30T16:00:00.000Z","declarationDate":"2026-03-29T16:00:00.000Z","stockId":3000000011968,"sao":"2025年债市收益率整体波折上行。第一季度受央行管控流动性影响，资金价格走高，叠加经济有企稳迹象，收益率整体有所上行；二季度受关税战及央行降息影响，收益率转而下行；下半年，受通胀预期升温影响，收益率再度上行，同时收益率呈陡峭化走势。组合在一季度大幅降低久期和仓位后，整体保持偏谨慎基调，并于期间根据市场情绪变化积极开展了一定的波段交易，尽管取得了一定超额收益，但由于市场整体调整，组合仍然遭受一定程度回撤。","lastUpdated":"2026-03-30T06:11:00.471Z","mo":"展望2026年，通胀预期演绎仍然是决定债市走势的关键。货币政策整体保持稳定，尽管仍有降准降息预期，但考虑央行仍以择机为主，短期内是否兑现仍有不确定性。预计债市大概率继续延续震荡走高态势，但在宽松货币及财政发力的背景下，收益率整体向上的空间仍将有限。收益率波动区间有限下，组合拟积极开展波段交易，力争提升组合的超额收益。","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2025年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1452653","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f4074","date":"2025-09-29T16:00:00.000Z","declarationDate":"2025-10-26T16:00:00.000Z","stockId":3000000011968,"sao":"第三季度，中美关系总体缓和，经济缓慢复苏，政策总体保持稳健。央行维持流动性合理宽松，资金价格总体保持稳定。但反内卷下通胀预期开始升温，权益资产持续走好提振风险偏好，债券收益率持续走高，收益率曲线整体陡峭化。组合在三季度整体减持长债，但由于底仓2-5年品种也遭受了较大程度调整，使得组合遭受了一定程度的明显回撤。　　展望四季度，货币政策预计继续宽松格局，权益资产短期有所波动，风险偏好整体趋于稳定，经历一季度调整后债市具有一定配置性价比，叠加年底机构配置需求，债市可能有一定反弹行情。但在通胀逻辑整体并未消散下，债市上涨空间有限。组合计划继续加大区间波段操作和券种置换力度，争取在机会有限的市场环境中获取一定超额收益。","lastUpdated":"2026-03-09T13:45:12.991Z","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2025年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1370943","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f4073","date":"2025-06-29T16:00:00.000Z","stockId":3000000011968,"sao":"上半年，宏观层面临较大不确定性，中美关税战开始升温，但经济基本面整体表现稳定，经济数据仍在预期范围内运行。面临不确定环境，央行货币政策维持整体宽松，并在二季度进行了一次降准和一次降息，流动性保持合理宽裕。债券收益率整体呈震荡走势，资金面宽松压制收益率上行，但与此同时，风险偏好抬升也开始约束收益率下行；震荡行情下套息交易活跃，信用利差、期限利差、品种利差等明显压缩，信用债的表现好于利率债。组合在上半年维持灵活仓位运作，久期在2-6年区间进行调整应对波动市场，在整体震荡环境中依靠交易策略维持了一定的收益。","declarationDate":"2025-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.988Z","mo":"展望下半年，货币政策预计继续宽松格局，但风险偏好有所抬升，权益市场开始表现出一定赚钱效应，因此，尽管债市仍有一定套息空间，但收益率继续下行空间有限。预计在没有更多基本面因素变化前提下，债市整体维持震荡走势。组合计划加大区间波段操作和券种置换力度，争取在机会有限的市场环境中获取一定超额收益。","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2025年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1339172","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f4072","date":"2025-03-30T16:00:00.000Z","stockId":3000000011968,"sao":"第一季度，央行暗示市场收益率过低，在货币政策基调上进行了一定程度微调；基本面开始出现积极信号，科技行业、消费政策均有一定预期的改善，基本面的悲观预期有所减弱。受货币政策和基本面预期变化的双重影响，债市大幅调整。组合尽管先后降低了杠杆和久期，但由于应变较慢，受市场调整影响也出现了明显回撤。　　展望二季度，货币政策短期有一定放松，叠加关税不确定性大幅抬升，基本面仍有较大压力，债市整体难以明显调整；但与此同时，收益率连续下行至年内前低位置，市场的谨慎心态升温，在没有超预期货币政策前提下，市场下行空间有限。因此，债市以区间震荡为主，组合计划加大波段操作力度，在低套息环境下，力争增加资本利得的超额收益。","declarationDate":"2025-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.986Z","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2025年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1266621","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f4071","date":"2024-12-30T16:00:00.000Z","stockId":3000000011968,"sao":"2024年，经济呈现逐步走弱态势，通胀整体处于低位，市场对于经济的信心逐步走弱，政策维持整体宽松。债券收益率整体大幅下行，超长端表现更优。但9月底中央开始转变政策基调，从稳健转变为积极，风险偏好大幅抬升，债市出现一定扰动，但随着基本面的改善仍然有限，市场对于经济的信心仍然不足，收益率年底再度下行。组合操作方面，整体维持中性偏高的久期策略，但其中也跟随政策的变化灵活调整，把握了部分交易机会，也跟随市场遭受了一定程度的回撤，如9月底对政策基调转变的应变不足等。","declarationDate":"2025-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.983Z","mo":"展望2025年，经济低位企稳，利率仍将处于较低水平，但短期可能受风险偏好及政策态度转变影响有所波动。组合计划整体维持中性久期仓位，加大久期的波动区间，增加区间操作，争取在震荡市场中获取超额收益。","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2024年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1248963","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f4070","date":"2024-09-29T16:00:00.000Z","stockId":3000000011968,"sao":"第三季度，央行从警示长债风险转为实际卖出长债，债市有所调整，收益率明显上行；但8月末的公告暗示央行同时买入短期国债，保持流动性净投放，反映央行货币政策仍然在宽松范畴，叠加经济持续低迷大幅降息预期升温，收益率再度走低并创出年内新低；9月底央行联合各部委召开假期前重要政策会议，推出一系列刺激经济的重大政策，暗示经济政策从稳健转为积极，政策的大幅转变提振了风险偏好，稳健型资产债券需求下降，债市大幅调整。组合跟随市场变化灵活调整持仓，但由于市场变化较快，且组合延续此前较高久期和仓位操作，导致9月底大幅调整时遭受了一定程度的净值回撤。　　展望四季度，经济企稳回升仍然需要宽松货币政策支撑，但短期风险偏好抬升也将削弱债券的吸引力，预计债市整体呈震荡走势。组合计划在区间波段操作上挖掘更多超额收益。","declarationDate":"2024-10-23T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.980Z","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2024年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1170187","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f406f","date":"2024-06-29T16:00:00.000Z","stockId":3000000011968,"sao":"上半年，中国经济基本面开始走弱，央行货币政策主要以支持经济增长为主，年初大幅降准，维持了流动性合理充裕，资金持续涌入债市，收益率尤其长端收益率大幅下行；但在二季度收益率大幅下行后，央行开始暗示长债风险，长债和超长债进入震荡整理态势；但手工补息取消、地产政策对地产整体影响有限，同时稳健收益资产继续缺失，大量资金继续涌入债市，中短端收益率明显下行。组合年初择机增加了久期和仓位，把握一季度的整体下行行情，但二季度在央行警示后，开始陆续降低久期和仓位，尽管长端收益率维持震荡，但也错失了短端收益率继续下行带来的市场机会。","declarationDate":"2024-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.978Z","mo":"展望下半年，市场对于经济的悲观预期开始升温，债券市场的基本面仍然向好；但在收益率连续下行后，央行开始实质性警示长债风险，对收益率继续下行造成明显制约，债市延续上半年大幅下行的概率不大。预计债市继续保持曲线陡峭化，在下行有底的制约下，收益率预计保持区间震荡概率较大。组合计划保持较为中性的久期和仓位，根据市场变化灵活开展交易，力争增厚组合收益。","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2024年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1143755","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f406e","date":"2024-03-30T16:00:00.000Z","stockId":3000000011968,"sao":"第一季度，经济基本面延续疲态，地产投资继续下滑，实体融资需求仍然整体偏弱；政策仍聚焦于稳定增长方向，同时引导实体融资成本稳步走低是货币政策的重要目标之一，1月份央行超预期降准0.5%为市场注入充足流动性。债券市场收益率整体明显下行，其中超长端表现更为优异，下行幅度明显大于中短端。组合年初保持了较高的久期和仓位，随着收益率下行，陆续止盈中长债，但亦错失了3月份的收益率再度下行行情。　　展望第二季度，经历年初以来的收益率大幅下行，市场止盈需求强烈，同时二季度发债压力增大，叠加股市逐步回暖，市场可能步入震荡。组合仓位调整为中性仓位，同时在期限结构上挖掘超额收益，力图保持净值稳健增长。","declarationDate":"2024-04-17T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.975Z","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2024年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1064705","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f406d","date":"2023-12-30T16:00:00.000Z","stockId":3000000011968,"sao":"2023年，宏观经济呈现先强后弱的走势，一季度受疫情后复苏影响，经济开始反弹，消费逐步走强；但随后二季度经济开始意外放缓，地产销售开始走弱，经济再度步入房地产周期下滑的趋势当中；尽管中央加大了经济刺激力度，二三季度连续降息，同时四季度开始转向财政刺激，增发1万亿国债，且推出特殊再融资专项债解决地方政府债务问题，但经济改善迹象不明显，四季度PMI连续走低，地产销售持续下滑，市场对经济增长的信心不足。全年收益率整体下行，仅在一季度受经济走强影响和三季度受财政发力及央行维稳汇率影响出现两波小幅度调整。组合根据宏观经济变化及时调整组合久期，尽管一季度担忧疫情后复苏影响保持较低的久期和仓位，但在二季度观测到经济再度走弱后持续提高组合久期和仓位，基本把握了全年收益率下行行情。","declarationDate":"2024-01-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.972Z","mo":"展望2024年，收益率经历连续下行，市场对于降息的再宽松预期定价已基本充分，叠加当前收益率水平股市开始企稳回升，利率水平对经济的支撑开始体现，今年延续去年整体收益率下行的难度较大，组合将继续根据经济和货币政策变化择机对持仓进行调整。","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2023年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1051535","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f406c","date":"2023-09-29T16:00:00.000Z","stockId":3000000011968,"sao":"第三季度，宏观经济有所企稳，PMI开始逐步回到枯荣线以上；货币政策仍然维持边际宽松态势，央行分别进行了一次降息和降准操作，政策基调总体稳健的同时开展了部分逆周期操作。债券市场收益率先下后上，一方面反映了经济开始回升的预期，另一方面也是前期上涨行情下止盈需求的体现。组合于8月份前后减持部分长债，但由于货币政策整体并未转向，因此组合仍然维持了较为中性的杠杆和久期，导致在9月份的调整中，跟随市场表现出现了较大幅度的回撤。　　展望四季度，经历一个多月的调整后，债券的配置价值有所提升，叠加年末往往是银行等配置机构的建仓窗口，预计市场表现可能好于三季度，组合拟择机增加仓位和久期，并根据收益率曲线变化灵活调整持仓结构。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.970Z","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2023年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=991611","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f406b","date":"2023-06-29T16:00:00.000Z","stockId":3000000011968,"sao":"上半年，疫情解封后经济出现脉冲性反弹，年初市场对经济预期良好，债市整体出现小幅调整，利率持续上行，组合认为调整有持续的可能，第一季度整体减仓；但进入二季度，组合观测到中国经济增长开始明显放缓，总需求不足下通胀也开始持续走低，客观上抬升了实际利率水平，包括有效投资不足、居民积极提前还贷都是实际利率偏高的反应，因此，在降低实体融资成本的背景下，无风险利率有继续走低的可能，基本面总体对债市有利，组合增加了债券仓位和久期，博取无风险利率下行中的债券价格上涨。在期限和品种选择上，一季度主要参与骑乘较高的中短期限品种为主，但二季度随着对债市整体看多，开始逐步过渡到中长久期债券，组合在一季度遭遇明显回撤后，二季度基本把握了债市上涨行情。","declarationDate":"2023-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.967Z","mo":"展望下半年，一揽子组合的刺激政策可能陆续出台，但政府报告暗示仍将保持政策定力，因此刺激力度预计仍然温和，经济大概率延续弱复苏态势，因此债券收益率可能呈低位震荡态势，可能受政策面波动影响出现小幅调整，但预计调整空间较为有限。组合计划密切跟踪政策和市场变化，保持中性久期，获得稳定票息收益的同时，也积极避免市场大幅调整带给组合的回撤。","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2023年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=952259","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f406a","date":"2023-03-30T16:00:00.000Z","stockId":3000000011968,"sao":"今年一季度，经济持续处于复苏态势，但节奏先快后慢；货币政策总体稳健，3月份为满足流动性合理充裕需要，央行全面降准0.25个百分点，显示对流动性的呵护，同时政策基调仍以稳健为主。债券市场走出结构性行情，去年底超跌的信用债收益率持续下行，走出一波独立的牛市行情，而利率债收益率先上后下，总体呈震荡走势。　　组合运作方面，组合主要以利率债持仓为主，1月份认为经济处于复苏周期债券难有大行情，整体仓位维持中性谨慎，规避了1-2月份的调整行情；但在3月份市场开始走强时，由于对债市的观点仍以谨慎为主，并未明显增加仓位，错失了一波利率债走牛行情。同时在期限选择上，仍然坚守1-3年政策性金融债，导致组合略跑输市场。　　展望二季度，经济复苏持续但缓慢，通缩的呼声开始提升，但预计货币政策仍将保持稳健，央行更多观察3月降准后的效果，避免表现大幅宽松的倾向，因此，债券收益率仍将以震荡走势为主。组合在震荡市场中，将主要以票息策略和骑乘策略为主，择机进行区间波段交易获取超额收益。","declarationDate":"2023-04-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.964Z","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2023年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=880346","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f4069","date":"2022-12-30T16:00:00.000Z","stockId":3000000011968,"sao":"回顾2022年，市场的核心因素在于疫情，疫情的爆发和对经济的影响超过市场预期，与此同时货币政策保持偏宽松的基调，资金价格持续维持低位。组合根据疫情事件的进展进行宏观分析，基本把握了二季度疫情爆发的债券做多行情；同时在过去历史经验的学习中，认为偏宽松态势维持的时间不会过长，在三季度末陆续降低仓位，使得组合在11月后的大跌后减少了一定程度回撤。但在具体操作中仍然没有克服一定的心理承受力，导致部分细节操作仍然做的有所欠缺。","declarationDate":"2023-01-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.961Z","mo":"展望2023年，疫情后复苏是宏观经济的基调，货币政策的边际变化将直接影响债券市场的走势。总体而言，2023年债券市场可能处于一个偏弱的震荡环境，但在预期差变化中寻找交易机会是跑赢市场的关键。","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2022年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=864293","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f4068","date":"2022-09-29T16:00:00.000Z","stockId":3000000011968,"sao":"2022年第三季度，继续受疫情频发和房地产下行两个负面因素影响，中国经济仍有较大下行压力，货币政策在7月份再度进行降息操作，显示其合理充裕偏宽松的基调和稳就业、稳经济的工作重心。尽管受通胀小幅抬升和海外货币政策紧缩的双重影响，债券市场仍然走出一波收益率下行走势。组合于7月份果断提高久期和仓位，把握了降息后的一波收益率下行机会，但随后过早的止盈操作也错过剩余的持续走强行情。  展望四季度，央行暗示当前合理充裕偏宽松的基调有利于提振当前疲软的经济走势，但宽松不宜维持过长时间，且人民币汇率开始承压也限制了货币政策进一步宽松的空间；与此同时，临近年底配置需求开始涌现，收益率也难以出现明显上行，预计收益率整体维持震荡走势，区间操作可能是下一步组合运作的主要策略。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.957Z","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2022年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=811456","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f4067","date":"2022-06-29T16:00:00.000Z","stockId":3000000011968,"sao":"2022年上半年，在地产下行和疫情再度爆发的双重负面影响下，中国经济仍有较大下行压力，货币政策基调仍然延续稳就业和稳经济增长的目标，流动性维持合理充裕。债券市场总体处于波动态势，组合大部分时间维持了较高杠杆配置，把握了资金宽松带来的套息机会，但在波段交易上表现平平，仅把握了4月份上海疫情爆发产生的一波下行机会，但在2月和6月的调整中，缺乏提前预判，导致组合遭受了一定的回撤。","declarationDate":"2022-07-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.955Z","mo":"展望下半年，经济仍处于缓慢复苏当中，通胀预计也将控制在合理范围内，货币政策短期退出难度较大，叠加利率债整体供应不如上半年，预计收益率大幅上行概率不大；但趋势性下行的可能也较低，毕竟海外货币政策紧缩周期下对国内政策的制约仍在，在政策没有进一步宽松下，长端收益率整体亦难明显下行；但资金宽松下中短端具有较好的息差空间，选择骑乘效应高的利率债进行套息交易可能仍是有效策略。","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2022年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=783571","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f4066","date":"2022-03-30T16:00:00.000Z","stockId":3000000011968,"sao":"2022年第一季度，组合根据债券市场交易逻辑的变化进行灵活调整。1月份在货币政策仍有进一步宽松预期下，组合维持较为激进的策略，组合仓位和久期均维持较高水平；随后2月份公布的1月社融数据大超市场预期，债券市场交易逻辑转为宽信用发力，债市随之出现明显调整，组合根据市场逻辑的变化，及时降低久期和仓位；进入3月份，宽信用的负面影响开始减弱，但上海等地疫情开始发酵引发经济进一步走弱的预期，与此同时美债收益率飙升的背后是通胀预期的升温，债券市场的多空逻辑交织运行，债市整体维持震荡，组合总体保持仓位和久期不变。  展望二季度，疫情下的经济走弱、进一步宽松和宽信用发力均已被市场充分预期，后续相关影响因素对债市走势整体影响不大；但国内较为平稳的通胀可能受欧美各国持续高增的通胀影响有走高的风险，进而限制债市表现，二季度债市走势预计整体平稳。","declarationDate":"2022-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.952Z","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2022年第一季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=726702","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f4065","date":"2021-12-30T16:00:00.000Z","stockId":3000000011968,"sao":"组合主要配置2-3年利率债作为底仓，并采用一定程度杠杆运作；同时通过5-10年活跃利率债作为组合久期调整的工具，获取资本利得。产品成立在2021年7月份，市场已经处于央行降准后的上涨行情，但组合认为市场对于经济下行的预期不足，债市仍有机会，组合在建仓时果断增持中长期债券，继续把握了一波收益率下行行情。","declarationDate":"2022-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.949Z","mo":"展望2022年，货币政策大概率延续合理充裕的态势，但是否存在进一步宽松机会，需要观察实体经济的恢复情况；同时美联储加息进程的变化也将开始对国内货币政策形成一定制约；通胀是否卷土重来仍有一定概率，也将限制货币政策的宽松程度及债券市场表现。相比于2021年，债市的行情预期可能有所降低，预计十年国债收益率波动区间在2.7%-2.9%；但大级别的调整需要货币政策转向才可能出现，短期概率也不大。","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2021年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=710798","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aecee87fea5b3eb04f4064","date":"2021-09-29T16:00:00.000Z","stockId":3000000011968,"sao":"今年第三季度，央行于7月初意外降准暗示当前经济仍有一定下行压力，随后出炉的宏观和金融数据陆续印证了中国经济增长开始放缓，债券市场转而以基本面走弱为主要交易逻辑，各期限收益率明显下行20-30bp。进入9月，宽信用开始升温，政府债券发行开始提速，尽管央行强调流动性仍将合理充裕，但资金面开始出现明显波动，收益率低位连续震荡后开始小幅反弹。组合运作方面，7月份产品成立后组合开始建仓，配置券种仍以稳健型的2-5年政策性金融债为主；9月初认为收益率短期下行难度加大，叠加通胀预期开始升温，组合开始小幅降低仓位。展望第四季度，通胀预期明显升温，但限电、地产下行等因素下中国经济明显反弹概率不大，预计货币政策仍然以稳健为主，流动性大概率继续合理充裕。债券市场方面，收益率波动可能加大，但整体大幅上行概率仍然不大，如通胀预期开始放缓，央行仍有进一步宽松的可能，收益率整体仍将低位震荡为主。","declarationDate":"2021-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:45:12.947Z","fund":{"_id":3000000011968,"__csrcFundId":9449,"stockCode":"011968","shortName":"农银金盛债券(011968)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":11968,"masterFundFlag":1,"lastUpdated":"2026-07-24T21:20:05.322Z","status":"normal","exchange":"jj","inceptionDate":"2021-06-28T16:00:00.000Z","name":"农银汇理金盛债券型证券投资基金","fundCollectionId":4000050600000,"currency":"CNY","followedNum":2,"setUpDate":"2021-06-28T16:00:00.000Z","setUpAssetScale":2300346687.6,"setUpShares":2300346687.6,"pinyin":"nyhljszqxzqtzjj","masterFundShortName":"农银金盛债券","managers":[{"stockCode":"db20668224","stockType":"fund_manager","exchange":"fm","tickerId":72625197580,"name":"郭振宇"}]},"announcement":{"linkText":"农银汇理金盛债券型证券投资基金2021年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=653562","linkType":"PDF","source":"csrc_pdf"}}]}