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但市场预期及信心回升对资产价格走势产生了巨大影响。　　债券市场方面，经济基本面偏弱叠加央行在7月接连降息，推动收益率持续回落。期间央行主动提示长端利率风险，债券市场有所波动，但收益率依然在震荡中不断下行。直到9月底一系列稳增长政策推出，市场对经济的悲观预期明显改善，风险偏好回升，债券市场则在短期内出现明显调整，收益率快速回升。整个三季度，债券收益率呈先下后上走势，利率债收益率小幅下行，信用债收益率则普遍较二季度末出现回升。　　报告期内，本产品继续以利率债和金融债投资为主，并适度提升了底仓债券久期水平，同时密切跟踪市场波动及预期变化，参与了部分中长久期利率债的波段交易。","declarationDate":"2024-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:55:44.832Z","fund":{"_id":3000000015597,"__csrcFundId":11248,"stockCode":"015597","shortName":"方正富邦稳泓3个月定开债券(015597)","masterFundShortName":"方正富邦稳泓3个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15597,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:40:17.851Z","status":"normal","exchange":"jj","name":"方正富邦稳泓3个月定期开放债券型证券投资基金","inceptionDate":"2022-06-28T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":0,"setUpDate":"2022-06-28T16:00:00.000Z","setUpAssetScale":2700054359.98,"setUpShares":2700054359.98,"pinyin":"fzfbwh3gydqkfzqxzqtzjj","managers":[{"stockCode":"j101020437","stockType":"fund_manager","exchange":"fm","tickerId":2625255970,"name":"郑瑛"}]},"announcement":{"linkText":"方正富邦稳泓3个月定期开放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=1176244","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1607fea5b3eb051c909","date":"2024-06-29T16:00:00.000Z","stockId":3000000015597,"sao":"上半年国内经济先企稳回升后再次转弱，外需是重要支撑，但国内需求明显不足。具体看，一季度国内经济出现了一定企稳迹象，部分数据较2023年四季度有所回升，3月制造业PMI指数时隔五个月重回50以上，需求、生产等分项指标也都明显改善。一季度GDP同比增长5.3%，高于2023年四季度及2023全年增速，明显好于市场预期。进入二季度，国内经济复苏动能转弱，虽然出口保持较快增长、制造业投资在设备更新带动下维持高增，都对经济形成重要支撑，但地产投资下行趋势仍未缓解，居民消费也明显偏弱，基建投资由于资金投放缓慢、缺乏优质项目，增速也开始逐步回落，且实物工作量明显更慢。最终二季度GDP同比增长仅4.7%，明显低于一季度，上半年累计增速5.0%，略低于市场预期。通胀方面，基数回落推动下，CPI同比由负转正，PPI同比跌幅收窄，但包括核心CPI、GDP平减指数等指标依然偏弱，价格低迷指向总需求偏弱依然是当前经济面临的主要矛盾，尤其国内需求总体较差。　　上半年债券市场表现较好，收益率显著回落。1-2月为经济数据的真空期，叠加市场供给较少、股票市场下跌带动市场风险偏好明显回落，收益率持续下行，尤其超长端收益率出现显著回落。进入3月经济数据边际回暖，市场对经济的悲观预期有所修正，叠加两会提出将新增1万亿特别国债，引发投资者对超长债券供给担忧，市场收益率结束持续下行趋势转为震荡。二季度经济数据再次转弱对债券市场形成支撑，收益率再次下行，但走势出现一定分化。信用债方面，经济转型背景下地产、城投融资需求显著回落，优质资产供给偏少，缺资产再次成为市场主要矛盾，叠加货币政策总体宽松、资金面保持平稳，因此信用债配置价值相对突出，收益率不断回落。利率债方面，二季度新增万亿特别国债及地方政府债大规模发行带来的供给压力预期扰动市场，更重要的是随着收益率回落，二季度以来央行多次提示长债利率风险，导致利率债走势有所反复，尤其是长久期、超长久期利率债波动明显加大。 　　报告期内，本产品继续以利率债和金融债投资为主，并适度提升了底仓债券久期水平，同时密切跟踪市场波动及预期变化，参与了部分中长久期利率债的波段交易。","declarationDate":"2024-07-18T16:00:00.000Z","lastUpdated":"2026-03-09T13:55:44.829Z","mo":"展望下半年，国内有效不足的局面仍有待缓解，包括地产投资、居民消费、基建投资等，外需将面临欧美加征关税导致的“抢出口”效应减退、美国补库存需求回落等不利因素，也存在回落风险。宏观政策如何发力解决总需求不足的问题将成为决定下半年经济走势的重要因素。　　债券市场方面，在经济没有真正企稳之前货币政策将维持相对宽松，下半年政策利率、存款利率仍然存在下调空间，叠加经济转型背景下资产荒继续对债券市场形成支撑，因此下半年债券市场机会仍然大于风险。","fund":{"_id":3000000015597,"__csrcFundId":11248,"stockCode":"015597","shortName":"方正富邦稳泓3个月定开债券(015597)","masterFundShortName":"方正富邦稳泓3个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15597,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:40:17.851Z","status":"normal","exchange":"jj","name":"方正富邦稳泓3个月定期开放债券型证券投资基金","inceptionDate":"2022-06-28T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":0,"setUpDate":"2022-06-28T16:00:00.000Z","setUpAssetScale":2700054359.98,"setUpShares":2700054359.98,"pinyin":"fzfbwh3gydqkfzqxzqtzjj","managers":[{"stockCode":"j101020437","stockType":"fund_manager","exchange":"fm","tickerId":2625255970,"name":"郑瑛"}]},"announcement":{"linkText":"方正富邦稳泓3个月定期开放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=1147975","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1607fea5b3eb051c908","date":"2024-03-30T16:00:00.000Z","stockId":3000000015597,"sao":"一季度债市在配置力量主导叠加供给相较往年减少的情况下，收益率维持去年末以来的下行趋势。分阶段看，春节前在降准预期兑现下收益率快速下行，其中长端收益率下行幅度大于短端，利率曲线平坦化。春节后随着权益市场回暖，债市短暂调整，但LPR超预期调降后收益率再度下行，10年国债突破2.3%创下年内新低。但进入3月中旬央行缩减OMO操作量引发市场对防止资金空转的担忧，叠加二季度债券供给增加的预期，债市再度调整，但随着央行月末加量进行跨月OMO操作，市场对资金紧张预期缓解，短端收益率再度创下年内新低。报告期内，基金主要使用利率债和金融债的投资策略，在严控信用风险的提前下，根据收益率曲线形态变化及个券利差进行择券。","declarationDate":"2024-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:55:44.826Z","fund":{"_id":3000000015597,"__csrcFundId":11248,"stockCode":"015597","shortName":"方正富邦稳泓3个月定开债券(015597)","masterFundShortName":"方正富邦稳泓3个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15597,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:40:17.851Z","status":"normal","exchange":"jj","name":"方正富邦稳泓3个月定期开放债券型证券投资基金","inceptionDate":"2022-06-28T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":0,"setUpDate":"2022-06-28T16:00:00.000Z","setUpAssetScale":2700054359.98,"setUpShares":2700054359.98,"pinyin":"fzfbwh3gydqkfzqxzqtzjj","managers":[{"stockCode":"j101020437","stockType":"fund_manager","exchange":"fm","tickerId":2625255970,"name":"郑瑛"}]},"announcement":{"linkText":"方正富邦稳泓3个月定期开放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=1076780","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1607fea5b3eb051c907","date":"2023-12-30T16:00:00.000Z","stockId":3000000015597,"sao":"2023年经济基本面呈现修复趋势，债券市场交易主线围绕经济新旧动能转换展开。全年收益率走势分为上行筑顶回落以及反弹回升再震荡回落两个阶段，阶段内的拐点分别出现在一季度末和四季度中后期。开年生产、消费和投资等主要经济指标全面回升，经济修复的趋势得到确认，债市整体在弱现实强预期的逻辑驱动下走势分化，表现为利率债收益上行及信用债收益的下行，长端债券收益率至3月中收益率筑顶后初现下行。二季度开始主要经济指标大多低于市场预期，其中工业增加值同比见顶回落，房地产投资增速降幅进一步扩大拖累投资增速走弱，出口增速降至负值，融资需求边际下降导致金融数据走弱，都令市场投资者对经济增长修复预期降温，国内需求偏弱，收益率一路震荡下行持续至8月中旬。在8月中旬央行宣布降低MLF操作利率后，10年国债下行至年内最低点，但随后银行间资金面边际收紧、政府债券发行量不断提升及房地产优化政策密集出台，收益率震荡回升，该趋势持续至11月，随后在地方化债政策逐步落地，债券发行高峰渡过以及银行存款利率下调等因素的推动，年末收益率重回下行轨道。 报告期内，基金主要采用金融债投资策略，在严控信用风险的前提下，根据经济增长预期变化及收益率曲线形态变化进行组合久期调整，并在组合久期目标控制下，根据个券利差进行择券。","declarationDate":"2024-01-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:55:44.823Z","mo":"展望2024年，在年底中央经济工作会议强调坚持稳中求进、以进促稳基调下，GDP增速目标设定预计将偏向积极。在积极的GDP目标下，央行维持偏宽松的货币政策概率较大，同时实体融资需求在居民部门就业和收入预期转弱以及政府债发行量加大的情况下将维持偏弱增长，叠加全球紧缩性货币政策转向预期带来的资本外流及人民币贬值压力缓解，债市收益率中枢预计将继续下移，但空间将相较于2023年收窄。在低利率、发债更趋严格以及资产供给相对不足延续逻辑下，债券的信用利差、期限利差总体将维持低位，各品种信用利差波动及城投再定价区域带来的交易机会将成为组合超额收益的重要来源。","fund":{"_id":3000000015597,"__csrcFundId":11248,"stockCode":"015597","shortName":"方正富邦稳泓3个月定开债券(015597)","masterFundShortName":"方正富邦稳泓3个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15597,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:40:17.851Z","status":"normal","exchange":"jj","name":"方正富邦稳泓3个月定期开放债券型证券投资基金","inceptionDate":"2022-06-28T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":0,"setUpDate":"2022-06-28T16:00:00.000Z","setUpAssetScale":2700054359.98,"setUpShares":2700054359.98,"pinyin":"fzfbwh3gydqkfzqxzqtzjj","managers":[{"stockCode":"j101020437","stockType":"fund_manager","exchange":"fm","tickerId":2625255970,"name":"郑瑛"}]},"announcement":{"linkText":"方正富邦稳泓3个月定期开放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=1060521","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1607fea5b3eb051c906","date":"2023-09-29T16:00:00.000Z","stockId":3000000015597,"sao":"三季度债券收益率总体先下后上，7月上旬央行公布的上月金融数据显示居民中长期贷款增长低迷，进入中旬统计局公布的6月和二季度经济数据低于市场预期，叠加市场对政策加码预期逐步减弱，债市做多力量主导，驱动债券收益率震荡下行。7月末中央政治局会议政策定调较为相对积极，市场对后续稳增长政策出台预期升温，一度带动收益率出现短暂调整。但紧接着8月上中旬公布的信贷、通胀和经济数据均低于市场预期，叠加月中央行宣布降息，10年期国债利率快速下行至2.54%的年内低点。但降息落地后，银行间回购利率反而边际回升，加上政府债券发行量不断加码及房地产优化政策密集出台，债市带来利空扰动，10年国债收益率从低位回升至季末2.7%附近位置。报告期内，基金使用利率债及金融债投资策略，根据收益率曲线形态变化及个券利差进行择券，并通过灵活的组合久期暴露策略获取超越基准的收益。　　展望四季度，虽然地产改善仍存在不确定性，但在各项政策逐步落地推动下，全年经济增长目标完成概率较大，因此四季度政策加力的迫切性不高。通胀方面，四季度PPI同比离转正预计仍有一定难度，CPI同比预计维持1%以下的较低水平。银行间资金面方面，四季度央行货币政策预计将维持中性偏松的基调，但受到汇率压力的影响，资金利率波动幅度可能增大。在此背景下，债券收益率预计将继续保持下行的趋势，重点关注外需，商品房销售及政府债供给情况的变化。","declarationDate":"2023-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T13:55:44.821Z","fund":{"_id":3000000015597,"__csrcFundId":11248,"stockCode":"015597","shortName":"方正富邦稳泓3个月定开债券(015597)","masterFundShortName":"方正富邦稳泓3个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15597,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:40:17.851Z","status":"normal","exchange":"jj","name":"方正富邦稳泓3个月定期开放债券型证券投资基金","inceptionDate":"2022-06-28T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":0,"setUpDate":"2022-06-28T16:00:00.000Z","setUpAssetScale":2700054359.98,"setUpShares":2700054359.98,"pinyin":"fzfbwh3gydqkfzqxzqtzjj","managers":[{"stockCode":"j101020437","stockType":"fund_manager","exchange":"fm","tickerId":2625255970,"name":"郑瑛"}]},"announcement":{"linkText":"方正富邦稳泓3个月定期开放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=991340","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1607fea5b3eb051c905","date":"2023-06-29T16:00:00.000Z","stockId":3000000015597,"sao":"上半年经济在一季度触底回升后二季度开始环比回升幅度放缓，二季度主要经济指标大多低于市场预期，其中工业增加值同比见顶回落，房地产投资增速降幅进一步扩大拖累投资增速走弱，出口增速降至负值，融资需求边际下降导致金融数据走弱，都令市场投资者对经济增长修复预期降温。债市方面，上半年收益率整体走势先扬后抑，1-2月在经济增长复苏脉冲的带动下债市走弱，10年国债收益率一度突破2.9%关口，但随着两会对经济增长目标的定调、二季度经济增长数据比下行幅度超过市场预期，以及央行宣布降低公开市场操作利率水平，10年国债收益率从高点快速回落并突破2.6%关口。报告期内，基金主要配置利率债和商业银行金融债，二季度组合通过增加部分利率债长债配置提高组合久期暴露，为组合贡献了较好的投资收益。在信用债投资方面，短期信用风险仍大，基金维持中高评级配置思路，择优选取标的，避免信用下沉带来的风险。","declarationDate":"2023-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T13:55:44.818Z","mo":"展望下半年，由于需求端的制约，经济去库存周期短期难以扭转，经济增长环比动能大幅提升概率较低，而经济旧动能的减速将压制原材料价格的回升幅度，通胀预计仍将维持低增长的水平。货币政策方面，上半年存款利率市场化改革推进，为政策利率调降打下基础，而海外方面在发达国家经济、就业及通胀降温趋势已基本确立下，加息的终点已接近，我国货币政策宽松约束有望下降，下半年降低政策利率预计仍是可选项。在此背景下，债券市场在下半年面临利多因素仍将占主导，收益率的波动中枢有望继续下行。","fund":{"_id":3000000015597,"__csrcFundId":11248,"stockCode":"015597","shortName":"方正富邦稳泓3个月定开债券(015597)","masterFundShortName":"方正富邦稳泓3个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15597,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:40:17.851Z","status":"normal","exchange":"jj","name":"方正富邦稳泓3个月定期开放债券型证券投资基金","inceptionDate":"2022-06-28T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":0,"setUpDate":"2022-06-28T16:00:00.000Z","setUpAssetScale":2700054359.98,"setUpShares":2700054359.98,"pinyin":"fzfbwh3gydqkfzqxzqtzjj","managers":[{"stockCode":"j101020437","stockType":"fund_manager","exchange":"fm","tickerId":2625255970,"name":"郑瑛"}]},"announcement":{"linkText":"方正富邦稳泓3个月定期开放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=966713","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1607fea5b3eb051c904","date":"2023-03-30T16:00:00.000Z","stockId":3000000015597,"sao":"一季度经济触底回升，从已披露的经济数据看，1-2月生产、消费、投资等主要经济指标全面回升，经济修复的趋势得到确认，但修复的强度仍在市场预期范围内。债市在弱现实强预期的逻辑驱动下走势分化，在配置力量的推动下，信用债在经历去年四季度较大幅度的收益率上行后一季度有所修复，而利率债在一季度收益率延续上行。报告期内，基金使用利率债投资策略，根据收益率曲线形态变化及个券利差进行择券，并通过灵活的组合久期暴露策略获取超越基准的收益。　　展望二季度，国内经济在去年的低基数下同比将继续呈现回升态势，主要的拉动因素在于内需层面，但《政府工作报告》中指出今年经济增速目标设定为 5%左右，增速目标设定较为谨慎，短期内出台大规模经济刺激政策的概率较低。国外方面，美联储加息对发达经济体的金融系统及实体经济影响逐步体现，海外银行体系风险事件发酵，企业信用扩张预计一定程度上受阻，外需下滑幅度需密切观察。在此背景下货币政策预计继续维持偏中性偏松，精准发力以巩固经济增长动能。债券市场将预计将维持区间震荡，待经济修复动能进一步确认。","declarationDate":"2023-04-21T16:00:00.000Z","lastUpdated":"2026-03-09T13:55:44.815Z","fund":{"_id":3000000015597,"__csrcFundId":11248,"stockCode":"015597","shortName":"方正富邦稳泓3个月定开债券(015597)","masterFundShortName":"方正富邦稳泓3个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15597,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:40:17.851Z","status":"normal","exchange":"jj","name":"方正富邦稳泓3个月定期开放债券型证券投资基金","inceptionDate":"2022-06-28T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":0,"setUpDate":"2022-06-28T16:00:00.000Z","setUpAssetScale":2700054359.98,"setUpShares":2700054359.98,"pinyin":"fzfbwh3gydqkfzqxzqtzjj","managers":[{"stockCode":"j101020437","stockType":"fund_manager","exchange":"fm","tickerId":2625255970,"name":"郑瑛"}]},"announcement":{"linkText":"方正富邦稳泓3个月定期开放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=887241","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1607fea5b3eb051c903","date":"2022-12-30T16:00:00.000Z","stockId":3000000015597,"sao":"回顾2022年，疫情背景下居民支出和负债意愿较弱，存款高增叠加上央行上缴利润和定向工具投放，银行负债端资金充裕，使得银行间回购利率维持低位，另外在全面净值化运作的理财产品主导下，偏短久期的配置策略成为市场主流，资金利率较低叠加理财短久期配置策略盛行，压低了中短端利率债和信用债的收益率，并形成一段时间的平衡。但这种平衡在年末最后两个月被打破，随着大行融出减少，回购利率上行和疫情防控优化及地产政策频出扭转市场预期，以理财赎回的加剧击穿市场整体的平衡状态，并在不断的负反馈效应下，债市调整幅度被显著放大。报告期内，基金使用利率债为主的配置及交易策略，根据收益率曲线形态变化及个券利差进行择券，并通过灵活组合久期暴露策略获取超越基准的收益。","declarationDate":"2023-01-19T16:00:00.000Z","lastUpdated":"2026-03-09T13:55:44.809Z","mo":"展望今年，国内经济增长有望温和复苏，主要驱动因素在于国内经济的需求端，随着防疫政策不断优化并更趋科学精准，居民消费增速将较去年水平有一定提升，但在居民收入改善幅度较慢，以及疫情仍可能对经济的形成阶段性扰动的情况下，消费复苏或难以一蹴而就。固定资产投资方面，基建投资仍将是托底经济的重要抓手，但随着出口增速下行压力加大，制造业投资需求和能力预计将下降，制造业投资增速走低概率增大。地产投资方面，在去年下半年“三只箭”政策及预售监管资金优化等措施的陆续落地后，房企现金流紧张问题得到一定缓解，但未来购房需求恢复仍有赖于未来居民收入和信心的恢复，地产投资回升空间仍有待观察。通胀方面，今年CPI及PPI同比增速预计先下后上，呈现V型走势，整体表现温和。在经济复苏和通胀温和背景下，对货币政策难以形成明显制约。在此背景下，货币政策将转向精准和阶段性的发力，在经济增长趋势明朗前预计仍将保持较宽松的状态。债券市场将仍会呈现震荡走势，运行中枢预计略高于去年水平，但大幅上行的概率较低。","fund":{"_id":3000000015597,"__csrcFundId":11248,"stockCode":"015597","shortName":"方正富邦稳泓3个月定开债券(015597)","masterFundShortName":"方正富邦稳泓3个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15597,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:40:17.851Z","status":"normal","exchange":"jj","name":"方正富邦稳泓3个月定期开放债券型证券投资基金","inceptionDate":"2022-06-28T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":0,"setUpDate":"2022-06-28T16:00:00.000Z","setUpAssetScale":2700054359.98,"setUpShares":2700054359.98,"pinyin":"fzfbwh3gydqkfzqxzqtzjj","managers":[{"stockCode":"j101020437","stockType":"fund_manager","exchange":"fm","tickerId":2625255970,"name":"郑瑛"}]},"announcement":{"linkText":"方正富邦稳泓3个月定期开放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=871461","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed1607fea5b3eb051c902","date":"2022-09-29T16:00:00.000Z","stockId":3000000015597,"sao":"回顾三季度债市走势，流动性超预期宽松叠加央行降低MLF操作利率推动收益率整体下行，具体看三季度收益率先下后上，以8月中旬公布的经济数据以及央行下调公开市场利率为分水岭，7月采用疫情控制手段的城市增加，商品房交楼问题爆发销售走弱，经济增长预期转为悲观，同时银行间回购拆借利率创年内新低，10年期国债下行2.7%附近。8月中旬公布经济金融数据均低于预期，央行迅速回应下调公开市场操作利率，利率出现快速下行，10年向下突破2.6%。9月随着国内疫情边际好转，8月经济数据未进一步下行，美联储加息后美元指数快速上行，美元对人民币汇率承压，中美利差倒挂情况加剧令投资者转向谨慎，收益率总体回调。  展望四季度，从对经济增长具有指示作用的金融数据看经济复苏的持续性仍需观察，叠加疫情反复、出口回落及地产投资增速下滑等不确定性仍未解除，央行预计仍维持稳健货币政策的实施力度，加力巩固经济恢复发展基础。但同时受到全球通胀影响，货币政策的分化加剧，我国与发达国家的利差倒挂幅度扩大，给利率和汇率带来一定的压力，预计债券收益率将维持低位震荡徘徊的走势。报告期内基金处于建仓期，根据市场节奏逐步配置资产至目标水平。","declarationDate":"2022-10-25T16:00:00.000Z","lastUpdated":"2026-03-09T13:55:44.806Z","fund":{"_id":3000000015597,"__csrcFundId":11248,"stockCode":"015597","shortName":"方正富邦稳泓3个月定开债券(015597)","masterFundShortName":"方正富邦稳泓3个月定开债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":15597,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T00:40:17.851Z","status":"normal","exchange":"jj","name":"方正富邦稳泓3个月定期开放债券型证券投资基金","inceptionDate":"2022-06-28T16:00:00.000Z","fundCollectionId":4000050670000,"followedNum":0,"setUpDate":"2022-06-28T16:00:00.000Z","setUpAssetScale":2700054359.98,"setUpShares":2700054359.98,"pinyin":"fzfbwh3gydqkfzqxzqtzjj","managers":[{"stockCode":"j101020437","stockType":"fund_manager","exchange":"fm","tickerId":2625255970,"name":"郑瑛"}]},"announcement":{"linkText":"方正富邦稳泓3个月定期开放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=806970","linkType":"PDF","source":"csrc_pdf"}}]}