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经济基本面、货币政策以及监管政策等方面的变化，增强操作的灵活性；同时注意做好持仓券种梳理，优化持仓结构，严控风险，争取抓住市场机会，为投资人带来理想的回报。","fund":{"_id":3000000018838,"__csrcFundId":12995,"stockCode":"018838","shortName":"广发添财30天持有债券(018838)","masterFundShortName":"广发添财30天持有债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":18838,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:09:23.581Z","status":"normal","exchange":"jj","fundCollectionId":4000050300000,"inceptionDate":"2023-09-17T16:00:00.000Z","name":"广发添财30天持有期债券型证券投资基金","setUpDate":"2023-09-17T16:00:00.000Z","setUpAssetScale":254438393,"setUpShares":254438393,"pinyin":"gftc30tcyqzqxzqtzjj","followedNum":2,"managers":[{"stockCode":"j101004007","stockType":"fund_manager","exchange":"fm","tickerId":32508248190,"name":"陈韫慧"}]},"announcement":{"linkText":"广发添财30天持有期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=1346970","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed2da7fea5b3eb0534446","date":"2025-03-30T16:00:00.000Z","stockId":3000000018838,"sao":"2025年一季度，债市收益率整体上行。1月，中短端利率大幅上行，长端利率小幅下行，主要原因在于央行货币政策宽松节奏变化，资金面明显收紧。2月至3月下旬，债市利率全面上行，长端利率也出现较大幅度的上行，主要受1月至2月的经济及金融数据好于预期、两会修正降息预期等因素影响。3月底，央行开始呵护流动性，债市利率有所回落。全季来看，债市调整幅度较大，利率曲线平坦化上行。报告期内，组合密切跟踪市场动向，灵活调整组合久期、杠杆和持仓券种。展望二季度，债券市场方面重点关注资金面、基本面和机构行为的变化。3月底以来，流动性紧张情绪缓和，债券市场或将从此前的快速下跌转为震荡修复。二季度将继续密切关注资金利率中枢的变化，更加注重结合金融市场情况、央行维持金融稳定的功能进行流动性相关分析；基本面方面，尤其关注地产和出口部门的变化，若基本面出现明显变化，则债市预计也将迎来更为明确的机会；此外，机构行为方面，密切关注机构的久期分化和策略调整等。","declarationDate":"2025-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:02:02.308Z","fund":{"_id":3000000018838,"__csrcFundId":12995,"stockCode":"018838","shortName":"广发添财30天持有债券(018838)","masterFundShortName":"广发添财30天持有债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":18838,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:09:23.581Z","status":"normal","exchange":"jj","fundCollectionId":4000050300000,"inceptionDate":"2023-09-17T16:00:00.000Z","name":"广发添财30天持有期债券型证券投资基金","setUpDate":"2023-09-17T16:00:00.000Z","setUpAssetScale":254438393,"setUpShares":254438393,"pinyin":"gftc30tcyqzqxzqtzjj","followedNum":2,"managers":[{"stockCode":"j101004007","stockType":"fund_manager","exchange":"fm","tickerId":32508248190,"name":"陈韫慧"}]},"announcement":{"linkText":"广发添财30天持有期债券型证券投资基金2025年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1266200","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed2da7fea5b3eb0534445","date":"2024-12-30T16:00:00.000Z","stockId":3000000018838,"sao":"2024年，债券利率整体下行，下行幅度和斜率较2023年有所扩大，全年走势可大致分为三个阶段：1月至9月，受国内经济新旧动能转换、信用收缩和货币政策宽松、存款手工补息被规范等因素影响，债券利率持续下行；9月底至10月底，利率快速上行，随后震荡，主要驱动因素在于稳增长政策发力，导致投资者预期和行为短期急剧变化；10月底到12月底，货币政策宽松预期大幅发酵，利率再度转为下行。 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25BP，市场的货币宽松预期进一步升温。但是央行始终未调降OMO和MLF政策利率，资金利率总体围绕政策利率波动，未有明显下行。全季来看，债市较为强势，久期策略明显占优。报告期内，组合基于信用利差赔率的情况，适度增加利率债与金融债仓位，整体保持中性久期与杠杆操作。展望二季度，预计债券市场的主线在于财政政策节奏和基本面恢复情况。基本面或将延续修复态势，若财政节奏加快，则微观数据与宏观数据预计会走向收敛，基本面对债市的影响预计也会显性化。因此，二季度需要关注财政和信贷脉冲等对债市的扰动。但我国房地产市场正在从过去的高速发展转向平稳发展，在一定程度上制约了基本面向上的弹性，利率上行空间预计也较为有限，债市预计整体偏震荡，此时赔率和筹码分布的分析更为重要。具体操作方面，预计资金面将延续平稳态势，组合将继续以票息策略为主，综合考虑利差赔率，灵活调节组合杠杆。","declarationDate":"2024-04-18T16:00:00.000Z","lastUpdated":"2026-03-09T14:02:02.296Z","fund":{"_id":3000000018838,"__csrcFundId":12995,"stockCode":"018838","shortName":"广发添财30天持有债券(018838)","masterFundShortName":"广发添财30天持有债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":18838,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:09:23.581Z","status":"normal","exchange":"jj","fundCollectionId":4000050300000,"inceptionDate":"2023-09-17T16:00:00.000Z","name":"广发添财30天持有期债券型证券投资基金","setUpDate":"2023-09-17T16:00:00.000Z","setUpAssetScale":254438393,"setUpShares":254438393,"pinyin":"gftc30tcyqzqxzqtzjj","followedNum":2,"managers":[{"stockCode":"j101004007","stockType":"fund_manager","exchange":"fm","tickerId":32508248190,"name":"陈韫慧"}]},"announcement":{"linkText":"广发添财30天持有期债券型证券投资基金2024年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1065460","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed2da7fea5b3eb0534441","date":"2023-12-30T16:00:00.000Z","stockId":3000000018838,"sao":"2023年，债券利率整体震荡下行，全年可大致分为三个阶段：1月至8月，债券利率在走高后大幅下行，主要驱动因素在于经济恢复斜率放缓、财政政策收敛和货币政策宽松；8月底到10月底，利率震荡上行，中短端利率上行幅度较大，主要驱动因素在于一线城市地产政策放松、财政政策发力，与此同时，货币政策重心转向稳汇率、防空转；10月底到12月，利率再度转为下行，核心原因在于经济基本面恢复放缓，风险偏好低迷。报告期内，组合密切跟踪市场动向，灵活调整持仓券种结构、组合杠杆和久期分布。","declarationDate":"2024-01-18T16:00:00.000Z","lastUpdated":"2026-03-09T14:02:02.294Z","mo":"展望2024年，美债利率大幅下行后，外需出现边际企稳迹象，出口与制造业部门有望率先回暖。内需方面，地产政策在需求端放开限制，对经济拖累有所弱化，财政政策适度发力支持稳增长。因此，2024年债券市场可能会逐步由利率快速下行进入震荡阶段。债市再次回到胜率仍在、赔率不足的格局，组合操作上将进一步提高精细化管理，密切跟踪市场机构动向，寻找预期差交易机会。在整体利差偏低的情景下，提高持仓结构的流动性，防范风险。","fund":{"_id":3000000018838,"__csrcFundId":12995,"stockCode":"018838","shortName":"广发添财30天持有债券(018838)","masterFundShortName":"广发添财30天持有债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":18838,"currency":"CNY","masterFundFlag":1,"lastUpdated":"2026-05-01T02:09:23.581Z","status":"normal","exchange":"jj","fundCollectionId":4000050300000,"inceptionDate":"2023-09-17T16:00:00.000Z","name":"广发添财30天持有期债券型证券投资基金","setUpDate":"2023-09-17T16:00:00.000Z","setUpAssetScale":254438393,"setUpShares":254438393,"pinyin":"gftc30tcyqzqxzqtzjj","followedNum":2,"managers":[{"stockCode":"j101004007","stockType":"fund_manager","exchange":"fm","tickerId":32508248190,"name":"陈韫慧"}]},"announcement":{"linkText":"广发添财30天持有期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=1053211","linkType":"PDF","source":"csrc_pdf"}}]}