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面整体维持均衡；2季度，“双降”超预期落地，央行加大流动性投放，资金面明显转松。  债券市场方面，2025年上半年，收益率先上后下，收益率曲线呈现平坦化。1月份，主要受资金面收敛影响，中短端品种收益率明显调整，长端品种收益率走势相对偏强，收益率曲线呈现一定熊平。2月份，央行暂停国债买卖，叠加资金面持续偏紧，以及权益市场震荡走强的背景下，进一步压制债券市场情绪，收益率曲线震荡抬升。3月份，收益率“先上后下”，中上旬“两会”召开，央行行长在经济主题记者会提及“长期限国债收益率短期内快速下行问题”，引发市场对于债市防风险、货币政策宽松延后的担忧，收益率曲线呈现陡峭化上行；而中下旬，随着央行加大流动性投放，资金面边际转松，债市谨慎情绪明显缓和，收益率高位回落。4月份，美国“对等关税”超预期落地，避险情绪、货币宽松预期升温，收益率大幅回落后维持震荡。5月份，货币政策“双降”落地，中美关税谈判取得积极进展，市场风险偏好有所回暖，收益率陡峭化小幅上行。6月份，央行加大流动性投放，呵护市场意图明显，资金面维持宽松，叠加央行重启买债预期有所发酵，收益率小幅回落。  本报告期内本基金以持有利率债为主，基于经济基本面、货币政策和机构行为等因素，灵活调整组合久期和杠杆，力争为投资人创造中长期持续稳健回报。","declarationDate":"2025-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T14:10:35.005Z","mo":"从经济基本面来看，2025年以来，国内经济修复动能边际放缓，结构走势延续分化，其中，出口、固定资产投资增速小幅冲高后有所回落，消费增速延续回暖，工业生产基本稳定。往后看，考虑国内宏观政策保持定力，下半年随着财政政策边际退坡，抢出口效应边际放缓，国内经济下行压力或有所增加。对于债市而言，短期宽信用政策加码力度有限，下半年国内经济下行压力增加，货币政策总体仍偏呵护，后续也存在加码空间，下半年债市环境总体偏友好。","fund":{"_id":3000000206015,"__csrcFundId":3234,"stockCode":"206015","shortName":"鹏华纯债债券(206015)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":206015,"masterFundFlag":1,"lastUpdated":"2026-05-01T07:02:52.439Z","status":"normal","inceptionDate":"2012-09-02T16:00:00.000Z","name":"鹏华纯债债券型证券投资基金","exchange":"jj","followedNum":2,"fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华纯债债券","pinyin":"phczzqxzqtzjj","managers":[{"stockCode":"db20796555","stockType":"fund_manager","exchange":"fm","tickerId":230710211880,"name":"吴国杰"}]},"announcement":{"linkText":"鹏华纯债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=1340017","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed4da7fea5b3eb055136b","date":"2025-03-30T16:00:00.000Z","stockId":3000000206015,"sao":"1季度以来，国内固定资产投资、消费增速边际改善，出口增速有所回落，工业生产维持韧性，经济基本面总体保持稳定。通胀数据方面，CPI同比涨幅维持低位，PPI同比跌幅有所收窄，“通缩”压力仍有待缓解。货币政策方面，“适度宽松”基调维持，“降息降准”更侧重择机执行，资金面整体维持均衡。  债券市场方面，1月份，主要受资金面收敛影响，中短端品种收益率明显调整，长端品种收益率走势相对偏强，收益率曲线呈现一定熊平。2月份，央行暂停国债买卖，叠加资金面持续偏紧，以及权益市场震荡走强的背景下，进一步压制债券市场情绪，收益率曲线震荡抬升。3月份，收益率“先上后下”，中上旬“两会”召开，央行行长在经济主题记者会提及“长期限国债收益率短期内快速下行问题”，引发市场对于债市防风险、货币政策宽松延后的担忧，收益率曲线呈现陡峭化上行；而中下旬，随着央行加大流动性投放，资金面边际转松，债市谨慎情绪明显缓和，收益率高位回落。整体来看，1季度债券收益率明显调整。  本报告期内基金以持有利率债为主，总体维持中性偏低的久期和杠杆水平，期间参与了部分长期险利率债的波段交易。","declarationDate":"2025-04-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:10:34.988Z","fund":{"_id":3000000206015,"__csrcFundId":3234,"stockCode":"206015","shortName":"鹏华纯债债券(206015)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":206015,"masterFundFlag":1,"lastUpdated":"2026-05-01T07:02:52.439Z","status":"normal","inceptionDate":"2012-09-02T16:00:00.000Z","name":"鹏华纯债债券型证券投资基金","exchange":"jj","followedNum":2,"fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华纯债债券","pinyin":"phczzqxzqtzjj","managers":[{"stockCode":"db20796555","stockType":"fund_manager","exchange":"fm","tickerId":230710211880,"name":"吴国杰"}]},"announcement":{"linkText":"鹏华纯债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=1269225","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed4da7fea5b3eb055136a","date":"2024-12-30T16:00:00.000Z","stockId":3000000206015,"sao":"2024年以来，国内经济运行存在一定波折，1季度，在出口偏强等因素带动之下，经济数据边际改善；2-3季度，受工业生产、固定资产投资、消费等因素拖累，经济修复动能有所放缓；4季度，随着增量政策落地见效，国内工业生产、消费增速边际改善，带动经济下行压力明显缓解。通胀数据方面，在基数等因素影响下，PPI同比跌幅小幅收窄，CPI同比增速维持低位，“通缩”压力有待缓解。货币政策方面，1月份降准50BP；2月份5年期LPR调降25BP；7月份OMO调降10BP，MLF利率调降20BP；9月份OMO调降20BP，MLF利率调降30BP，存款准备金率调降50BP；同时，通过买断式回购、国债买卖等政策工具持续维护流动性充裕，货币政策基调偏宽松。  债券市场方面，2024年以来，债券收益率曲线明显下移。1月份，权益市场震荡下挫，市场风险偏好回落，叠加资金面维持宽松，降准政策“靴子”落地，收益率快速下行；2月份，政府债发行持续弱于预期，叠加5年期LPR大幅调降25BP，保险资管存款纳入同业存款等因素影响下，“资产荒”逻辑进一步演绎，收益率进一步下行；3月份，“两会”政策基本符合预期，而超长债供给信息持续扰动市场，叠加1-2月份经济数据，以及跨季因素扰动下，收益率总体偏震荡；4月份，在经济融资数据转弱，“手工补息”整改，地产政策放松传言，以及央行“提示利率风险”等因素影响下，收益率“先下后上”；5月份，在经济金融数据偏弱、特别国债“平滑”发行，以及地产政策放松落地等因素影响下，收益率整体偏震荡；6月份，在经济金融数据继续走弱，权益市场震荡下行，以及央行流动性呵护下，跨季资金面均衡偏松等因素影响下，债市情绪明显走强，收益率震荡下行。7月份，在上旬央行“卖债”担忧，以及下旬央行意外调降OMO和MLF利率等因素影响之下，债券收益率“先上后下”；8月份，主要受大行“卖出国债”，债券交易监管限制等因素影响之下，债券收益率同样“先上后下”；9月份，市场走势出现明显“反转”，中上旬主要受央行国债合计“净买入”，货币政策宽松预期等因素影响，债市乐观情绪有所延续，收益率小幅回落，而后随着国新办发布会上央行官宣降息、降准等一系列重磅政策，9月政治局会议“意外”讨论经济议题，释放出强烈的稳增长信号，国内经济预期出现一定程度的扭转，叠加权益市场的大幅反弹，债券市场受到“压制”，收益率快速调整；10月份，主要受权益市场冲高回落，市场风险偏好降温，以及财政发力预期等因素影响，债券收益率“先下后上”；11月份，随着人大会议财政政策靴子落地，市场对于宽信用担忧缓解，债券收益率震荡下行；12月份，政治局会议定调货币政策“适度宽松”，中央经济工作会议明确“适时降准降息”，市场继续抢跑宽松政策落地，收益率加速下行。  本报告期内本基金以持有利率债为主，基于经济基本面、货币政策和机构行为等因素，灵活调整组合久期和杠杆，力争为投资人创造中长期持续稳健回报。","declarationDate":"2025-01-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:10:34.980Z","mo":"从经济基本面来看，2024年以来，国内经济运行呈现一定波折，其中1季度经济修复有所延续，2-3季度经济修复动能明显放缓，4季度经济下行压力有所缓解。展望2025年，国内宏观政策定调偏积极，其中更加积极的财政政策，以及适度宽松的货币政策，或将对经济修复形成一定支撑。但是考虑2025年主要的财政增量或用于化债，而实际用于经济增量发展的财政增量或相对有限，同时考虑地产、居民消费的内在约束，以及外部关税等贸易摩擦所带来的外需的不确定性，预期国内经济基本面修复力度或相对有限。对于债市而言，在经济修复力度相对有限，通胀压力相对低迷的背景下，货币政策定调适度宽松，全年来看，货币政策降息降准均有空间，债市环境总体仍偏友好。从短期角度来看，在人民币汇率等因素约束下，国内货币政策面临一定掣肘，叠加国内稳增长政策靠前发力，短期经济修复动能或有所延续，货币政策明显放松的必要性或不强，预计债市总体或略偏震荡。而从略中期角度来看，随着国内稳增长政策效力“衰减”，关税等贸易摩擦加剧出口压力，国内经济下行压力或有所增加，货币政策放松或有所加码，债券市场或再度迎来阶段性机会。","fund":{"_id":3000000206015,"__csrcFundId":3234,"stockCode":"206015","shortName":"鹏华纯债债券(206015)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":206015,"masterFundFlag":1,"lastUpdated":"2026-05-01T07:02:52.439Z","status":"normal","inceptionDate":"2012-09-02T16:00:00.000Z","name":"鹏华纯债债券型证券投资基金","exchange":"jj","followedNum":2,"fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华纯债债券","pinyin":"phczzqxzqtzjj","managers":[{"stockCode":"db20796555","stockType":"fund_manager","exchange":"fm","tickerId":230710211880,"name":"吴国杰"}]},"announcement":{"linkText":"鹏华纯债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=1249464","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed4da7fea5b3eb0551369","date":"2024-09-29T16:00:00.000Z","stockId":3000000206015,"sao":"3季度以来，国内工业生产、固定资产投资、消费增速有所回落，出口增速相对稳定，经济下行压力有所增加。通胀方面，在基数等因素影响下，CPI同比增速延续温和修复，而PPI同比跌幅则略有扩大，“通缩”压力仍有待缓解。货币政策方面，7月份OMO调降10BP，MLF利率调降20BP；9月份OMO调降20BP，MLF利率调降30BP，同时调降存款准备金率50BP，货币政策宽松明显加码。债券市场方面，7月份，债券收益率“先上后下”：上旬，央行公布借入国债细节，市场担忧央行“卖债”压力，收益率出现快速调整；中下旬，国内三中全会召开，稳增长诉求明显提升，央行意外调降OMO和MLF利率，市场做多情绪明显提振，收益率快速回落。8月份，债券收益率“先上后下”：上旬，央行指导大行“卖出国债”，叠加限制部分券种的做市交易，以及农商行严监管，市场做多情绪明显降温，收益率出现快速调整；中下旬，大行“卖债”力度减弱，“买债”力度明显增加，叠加央行加大流动性投放，市场谨慎情绪有所消退，收益率震荡回落。9月份，债券收益率“先下后上”：中上旬，央行公告8月份国债合计“净买入”，市场乐观情绪有所延续，叠加美联储“首次”降息预期下，国内货币政策宽松预期明显升温，收益率快回落；下旬，国新办发布会上央行官宣降息、降准等一系列重磅政策，随后9月政治局会议讨论经济议题，释放出强烈的稳增长信号，国内经济预期出现一定程度的扭转，叠加权益市场的大幅反弹，债券市场受到“压制”，收益率快速调整。整体来看，3季度，信用品种和利率品种收益率走势有所分化，其中利率债收益率震荡略有所回落，信用债收益率出现小幅上行。  本报告期内基金以持有利率债为主，总体维持中性略高的久期和杠杆水平，并根据市场变化灵活调整。","declarationDate":"2024-10-23T16:00:00.000Z","lastUpdated":"2026-03-09T14:10:34.968Z","fund":{"_id":3000000206015,"__csrcFundId":3234,"stockCode":"206015","shortName":"鹏华纯债债券(206015)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":206015,"masterFundFlag":1,"lastUpdated":"2026-05-01T07:02:52.439Z","status":"normal","inceptionDate":"2012-09-02T16:00:00.000Z","name":"鹏华纯债债券型证券投资基金","exchange":"jj","followedNum":2,"fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华纯债债券","pinyin":"phczzqxzqtzjj","managers":[{"stockCode":"db20796555","stockType":"fund_manager","exchange":"fm","tickerId":230710211880,"name":"吴国杰"}]},"announcement":{"linkText":"鹏华纯债债券型证券投资基金2024年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1171718","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed4da7fea5b3eb0551368","date":"2024-06-29T16:00:00.000Z","stockId":3000000206015,"sao":"2024年上半年，国内经济延续修复，1季度，在出口偏强等因素带动之下，经济数据边际改善，而进入2季度，受基建放缓等因素拖累，经济修复动能略有放缓。通胀方面，上半年在基数等因素影响下，PPI同比跌幅明显收窄，CPI同比温和抬升，“通缩”压力持续缓解。货币政策方面，国内政策基调总体偏积极，1月份降准50BP，2月份5年期LPR调降25BP，资金面维持均衡偏松格局。债券市场方面，2024年上半年，债券收益率曲线明显下移。1月份，权益市场震荡下挫，市场风险偏好回落，叠加资金面维持宽松，降准政策“靴子”落地，收益率快速下行；2月份，政府债发行持续弱于预期，叠加5年期LPR大幅调降25BP，保险资管存款纳入同业存款等因素影响下，“资产荒”逻辑进一步演绎，收益率进一步下行；3月份，“两会”政策基本符合预期，而超长债供给信息持续扰动市场，叠加1-2月份经济数据，以及跨季因素扰动下，收益率总体偏震荡；4月份，在经济融资数据转弱，“手工补息”整改，地产政策放松传言，以及央行“提示利率风险”等因素影响下，收益率“先下后上”；5月份，在经济金融数据偏弱、特别国债“平滑”发行，以及地产政策放松落地等因素影响下，收益率整体偏震荡；6月份，在经济金融数据继续走弱，权益市场震荡下行，以及央行流动性呵护下，跨季资金面均衡偏松等因素影响下，债市情绪明显走强，收益率震荡下行。  本报告期内本基金以持有利率债为主，基于经济基本面、货币政策和机构行为等因素，灵活调整组合久期和杠杆，力争为投资人创造中长期持续稳健回报。","declarationDate":"2024-07-17T16:00:00.000Z","lastUpdated":"2026-03-09T14:10:34.963Z","mo":"从经济基本面来看，2024年以来，国内经济延续波折式修复，结构走势明显分化，其中，出口、制造业领域相对偏强，基建、消费板块有所放缓，地产链条维持疲弱。往后看，下半年广义财政资金加速落地、设备更新贷款财政贴息政策对于基建和制造业投资存在一定支撑，而地产和消费或延续温和修复，出口链条则在海外大选、政治震荡等因素影响下不确定性将明显增加。对于债市而言，从短期角度来看，人民币汇率等因素约束下，国内货币政策面临一定掣肘，叠加央行短期维稳市场的背景下，“借券卖出”等政策风险尚未充分释放，债券市场或面临一定扰动。而从略中期角度来看，在国内经济下行压力尚未明显缓解的背景下，后续随着海外货币政策的明显放松，国内货币政策仍存在放松的空间，债券市场或再度迎来阶段性机会。","fund":{"_id":3000000206015,"__csrcFundId":3234,"stockCode":"206015","shortName":"鹏华纯债债券(206015)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":206015,"masterFundFlag":1,"lastUpdated":"2026-05-01T07:02:52.439Z","status":"normal","inceptionDate":"2012-09-02T16:00:00.000Z","name":"鹏华纯债债券型证券投资基金","exchange":"jj","followedNum":2,"fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华纯债债券","pinyin":"phczzqxzqtzjj","managers":[{"stockCode":"db20796555","stockType":"fund_manager","exchange":"fm","tickerId":230710211880,"name":"吴国杰"}]},"announcement":{"linkText":"鹏华纯债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=1143389","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed4da7fea5b3eb0551367","date":"2024-03-30T16:00:00.000Z","stockId":3000000206015,"sao":"1季度以来，在出口、消费等因素带动之下，国内经济数据边际改善。通胀方面，PPI同比继续维持低位，CPI同比小幅抬升，“通缩”压力略有缓解。货币政策方面，政策基调总体偏积极，1月份降准50BP，2月份5年期LPR调降25BP，资金面均衡偏松。  债券市场方面，1月份，权益市场震荡下挫，市场风险偏好回落，叠加资金面维持宽松，降准政策“靴子”落地，收益率快速下行；2月份，政府债发行持续弱于预期，叠加5年期LPR大幅调降25BP，保险资管存款纳入同业存款等因素影响下，“资产荒”逻辑进一步演绎，收益率进一步下行；3月份，“两会”政策基本符合预期，而超长债供给信息持续扰动市场，叠加1-2月份经济数据，以及跨季因素扰动下，收益率总体偏震荡。整体来看，1季度，收益率曲线整体明显下移。  本报告期内本基金以持有利率债为主，总体维持偏低的久期和杠杆水平，并根据市场变化灵活调整。","declarationDate":"2024-04-18T16:00:00.000Z","lastUpdated":"2026-03-09T14:10:34.954Z","fund":{"_id":3000000206015,"__csrcFundId":3234,"stockCode":"2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利率，收益率快速下行；3季度后半段，海外紧缩预期下，人民币汇率阶段性承压，叠加国内稳增长政策持续加码，地产放松政策密集落地，以及跨季因素下资金面持续收紧，收益率震荡调整。  报告期内，本基金以持有利率债为主，总体维持偏低的久期和杠杆水平，并根据市场变化灵活调整。","declarationDate":"2022-10-24T16:00:00.000Z","lastUpdated":"2026-03-09T14:10:34.893Z","fund":{"_id":3000000206015,"__csrcFundId":3234,"stockCode":"206015","shortName":"鹏华纯债债券(206015)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":206015,"masterFundFlag":1,"lastUpdated":"2026-05-01T07:02:52.439Z","status":"normal","inceptionDate":"2012-09-02T16:00:00.000Z","name":"鹏华纯债债券型证券投资基金","exchange":"jj","followedNum":2,"fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华纯债债券","pinyin":"phczzqxzqtzjj","managers":[{"stockCode":"db20796555","stockType":"fund_manager","exchange":"fm","tickerId":230710211880,"name":"吴国杰"}]},"announcement":{"linkText":"鹏华纯债债券型证券投资基金 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债券市场或呈现为区间震荡的格局。但考虑海外经济复苏的不同步，以及疫情冲击之后的信用风险暴露等问题，国内经济仍然面临较大不确定性，年初在中央经济工作会议“不急转弯”的定调下，货币政策退出仍较为谨慎，未来如果信用环境收缩，经济下行压力或有所加大，政策可能出现边际放松，债券市场或迎来一定投资机会。","fund":{"_id":3000000206015,"__csrcFundId":3234,"stockCode":"206015","shortName":"鹏华纯债债券(206015)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":206015,"masterFundFlag":1,"lastUpdated":"2026-05-01T07:02:52.439Z","status":"normal","inceptionDate":"2012-09-02T16:00:00.000Z","name":"鹏华纯债债券型证券投资基金","exchange":"jj","followedNum":2,"fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华纯债债券","pinyin":"phczzqxzqtzjj","managers":[{"stockCode":"db20796555","stockType":"fund_manager","exchange":"fm","tickerId":230710211880,"name":"吴国杰"}]},"announcement":{"linkText":"鹏华纯债债券型证券投资基金2020年年度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=556358","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed4da7fea5b3eb0551359","stockId":3000000206015,"sao":"报告期内，国内经济基本面持续改善，政策组合由“宽货币、宽财政”逐步向“稳货币、宽财政”转向。随着结构性存款的持续压降，政府债券缴款等因素影响，商业银行负债压力明显增加，同业存单发行利率持续提价，叠加资金面边际收紧，债券市场出现明显调整。考虑短期内短端利率易上难下，也进一步制约长端下行空间，债券市场预计仍将维持震荡态势。  报告期内组合整体维持中性的久期水平，类属方面以优质信用债为主，并保持了适当的杠杆水平，业绩表现稳健。","date":"2020-09-29T16:00:00.000Z","declarationDate":"2020-10-27T16:00:00.000Z","lastUpdated":"2026-03-09T14:10:34.854Z","fund":{"_id":3000000206015,"__csrcFundId":3234,"stockCode":"206015","shortName":"鹏华纯债债券(206015)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":206015,"masterFundFlag":1,"lastUpdated":"2026-05-01T07:02:52.439Z","status":"normal","inceptionDate":"2012-09-02T16:00:00.000Z","name":"鹏华纯债债券型证券投资基金","exchange":"jj","followedNum":2,"fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华纯债债券","pinyin":"phczzqxzqtzjj","managers":[{"stockCode":"db20796555","stockType":"fund_manager","exchange":"fm","tickerId":230710211880,"name":"吴国杰"}]},"announcement":{"linkText":"鹏华纯债债券型证券投资基金2020年第三季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=494033","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed4da7fea5b3eb0551358","stockId":3000000206015,"sao":"2020年上半年债券市场收益率先下后上，年初至4月末债券市场整体表现较好，新冠疫情的持续发酵成为主导债市的主要因素。为了应对疫情对经济带来的冲击，政策方面逆周期调控措施持续加码，国内债券市场在宽松的流动性环境下收益率大幅下行。5月以来，随着经济基本面持续改善，货币政策保持定力，资金面明显收紧，6月初央行创新宽信用政策出台，总量型政策宽松预期明显降温，债券收益率震荡上行。  报告期内本基金以持有中高评级信用债为主，并保持了适当的杠杆水平。","date":"2020-06-29T16:00:00.000Z","declarationDate":"2020-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:10:34.849Z","mo":"预计后续在经济下行压力下，财政等刺激政策将进一步落地，货币政策将维持“稳健的货币政策更加灵活适度”的基调，基于疫情发展仍然面临较大的不确定性，内外需均处于缓慢修复的过程中，经济基本面反弹力度可能较为有限，债券市场将维持震荡态势。","fund":{"_id":3000000206015,"__csrcFundId":3234,"stockCode":"206015","shortName":"鹏华纯债债券(206015)","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":206015,"masterFundFlag":1,"lastUpdated":"2026-05-01T07:02:52.439Z","status":"normal","inceptionDate":"2012-09-02T16:00:00.000Z","name":"鹏华纯债债券型证券投资基金","exchange":"jj","followedNum":2,"fundCollectionId":4000050060000,"currency":"CNY","masterFundShortName":"鹏华纯债债券","pinyin":"phczzqxzqtzjj","managers":[{"stockCode":"db20796555","stockType":"fund_manager","exchange":"fm","tickerId":230710211880,"name":"吴国杰"}]},"announcement":{"linkText":"鹏华纯债债券型证券投资基金2020年中期报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=464846","linkType":"PDF","source":"csrc_pdf"}}]}