window.pageData = {"stock":{"_id":3000000022307,"stockCode":"022307","masterFundShortName":"摩根90天持有期债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":22307,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"摩根90天持有期债券A","name":"摩根90天持有期债券型证券投资基金","pinyin":"mg90tcyqzqxzqtzjj","fundCollectionId":4000050380000,"inceptionDate":"2025-03-13T16:00:00.000Z","setUpAssetScale":92163016.5,"setUpDate":"2025-03-13T16:00:00.000Z","setUpShares":92163016.5,"fundCollection":{"exchange":"jjgs","stockType":"fund_collection","stockCode":"50380000","tickerId":50380000,"name":"摩根基金管理（中国）有限公司"},"managers":[{"name":"任翔","stockType":"fund_manager","stockCode":"8801620636","exchange":"fm","tickerId":1824193290}],"hotMetrics":{"fss":{"stockId":3000000022307,"type":"fss","last_data_date":"2025-06-29T16:00:00.000Z","f_ins_h_s_r":0.4439,"f_ind_h_s_r":0.5561,"f_h_a":225},"fpr":{"stockId":3000000022307,"type":"fpr","f_cagr_p_r_fs_ssc":7305,"f_cagr_p_r_fs_ssrp":0.7513691128148959,"f_p_r_m1_ssc":7606,"f_p_r_m1_ssrp":0.8474687705456936,"f_p_r_m3_ssc":7521,"f_p_r_m3_ssrp":0.7007978723404256,"f_p_r_m6_ssc":7353,"f_p_r_m6_ssrp":0.7967899891186072,"f_p_r_fys_ssc":7460,"f_p_r_fys_ssrp":0.77624346427135,"f_p_r_y1_ssc":6875,"f_p_r_y1_ssrp":0.36223450683735814},"fp":{"stockId":3000000022307,"type":"fp","last_data_date":"2026-05-26T16:00:00.000Z","f_cagr_p_r_fs":0.023174818861844804,"f_p_r_m1":0.0009737098344695383,"f_p_r_m3":0.0057724293122003445,"f_p_r_m6":0.00972399567822424,"f_p_r_fys":0.00883218842001976,"f_p_r_y1":0.023292852876766856},"ff":{"stockId":3000000022307,"type":"ff","f_fr_d":"2025-06-29T16:00:00.000Z","f_m_fr":0.002,"f_c_fr":0.0005,"f_mac_fr":0.0025},"f_nlacan":{"stockId":3000000022307,"type":"f_nlacan","f_nv_d":"2026-05-26T16:00:00.000Z","f_nv":1.028,"f_nv_cr":0.00009728572818357151},"f_as":{"stockId":3000000022307,"type":"f_as","f_tas":24761976.660800003,"f_tas_d":"2026-03-30T16:00:00.000Z"}},"masterSlaveFunds":[{"_id":3000000022308,"name":"摩根90天持有期债券型证券投资基金","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","status":"normal","stockCode":"022308","tickerId":22308,"shortName":"摩根90天持有期债券C","currency":"CNY","__csrcFundId":14781,"exchange":"jj","masterFundFlag":null,"indexFundFlag":null,"activeFundFlag":null,"etfFundFlag":null,"lofFundFlag":null,"pensionTargetFlag":null,"feederFundFlag":null,"classificationFlag":null,"closedEnd":null,"lastUpdated":"2025-03-24T07:59:59.141Z","inceptionDate":"2025-03-13T16:00:00.000Z","pinyin":"mg90tcyqzqxzqtzjj","fundCollectionId":4000050380000}],"bondHoldings":[{"_id":"69e8fbb01398d79843003cdd","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000022307,"stockCode":"019790","stockName":"25国债17","holdings":135000,"marketCap":13641905,"netValueRatio":0.2588,"lastUpdated":"2026-04-22T16:47:44.778Z"},{"_id":"69e8fbb01398d79843003cde","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000022307,"stockCode":"102326","stockName":"国债2601","holdings":100000,"marketCap":10026402,"netValueRatio":0.1902,"lastUpdated":"2026-04-22T16:47:44.782Z"},{"_id":"69e8fbb01398d79843003cdf","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000022307,"stockCode":"210316","stockName":"21进出16","holdings":50000,"marketCap":5153842,"netValueRatio":0.0978,"lastUpdated":"2026-04-22T16:47:44.785Z"},{"_id":"69e8fbb01398d79843003ce0","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000022307,"stockCode":"019785","stockName":"25国债13","holdings":42000,"marketCap":4239940,"netValueRatio":0.0804,"lastUpdated":"2026-04-22T16:47:44.788Z"},{"_id":"69e8fbb01398d79843003ce1","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","fundId":3000000022307,"stockCode":"092202005","stockName":"22国开行二级资本债01A","holdings":40000,"marketCap":4123024,"netValueRatio":0.0782,"lastUpdated":"2026-04-22T16:47:44.792Z"}]},"list":[{"_id":"69e8ec6e1398d79843fe9dff","date":"2026-03-30T16:00:00.000Z","declarationDate":"2026-04-21T16:00:00.000Z","stockId":3000000022307,"sao":"一季度债市整体走强但呈现明显分化，中短期债券均大幅下行，尤其是短期信用债下行幅度最大，信用利差呈现明显压缩态势，而超长期利率债表现一般，维持震荡态势，债券曲线走陡。2025年末公募债基赎回费新规落地，整体好于此前市场预期，因此年初债基负债端有一定改善，对中短信用债资产积极买入，市场情绪有所回暖。但市场对波动较高的超长利率债保持谨慎。配置盘对信用债的买入力量维持高位，短端债券表现良好。2月跨年期间资金面维持宽松，期间央行多次定调宽松货币政策，持续对市场形成净投放，银行间借贷成本维持低位，短端债券套息空间充裕，收益率不断下行。3月以来中东地缘摩擦对市场造成较大干扰，油价大幅上行使得市场对输入性通胀有所担忧，叠加CPI和PPI数据环比走强，对债券市场情绪形成冲击，收益率震荡上行，超长利率债受影响更甚。而在资金面呵护下短端利率和信用债维持稳定偏强，收益率曲线陡峭化。　　本基金在一季度保持了中性久期，聚焦于短期限金融债和政金债，保持了较好的流动性，同时辅以波段操作，取得了较为稳健的回报。　　展望后市，债市分化行情或将持续。资金面或维持宽松态势，短债继续获得支撑，信用债杠杆套息策略有望继续占优，而长期限利率债可能继续面临风险偏好的压制，随着油价高企和其他大宗商品价格回升，二季度PPI有望转正，CPI也可能继续好转，交易型机构对长期限利率债的交易情绪偏弱，超长期限利率可能仍会面临抛压，曲线仍有继续走陡压力。但从基本面角度出发并不支撑债市大幅走熊，当前信贷需求仍相对偏弱，银行存款表现则强于预期，存贷差有所拉大，银行配债力量可能维持高位，因此债券的调整应存在边界。信用债的展望相对好于利率，预计理财规模在二季度仍将稳步提升，中短期信用债仍将处在有利的供需环境中，预计其信用利差维持低位。我们将在把握基本面定价的基础上，结合短期技术面因素及政策和焦点事件演变，灵活调整基金久期，把握债券交易机会。","lastUpdated":"2026-04-22T15:42:38.222Z","fund":{"_id":3000000022307,"__csrcFundId":14781,"stockCode":"022307","masterFundShortName":"摩根90天持有期债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":22307,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"摩根90天持有期债券(022307)","lastUpdated":"2026-05-01T03:28:25.915Z","name":"摩根90天持有期债券型证券投资基金","pinyin":"mg90tcyqzqxzqtzjj","fundCollectionId":4000050380000,"inceptionDate":"2025-03-13T16:00:00.000Z","setUpAssetScale":92163016.5,"setUpDate":"2025-03-13T16:00:00.000Z","setUpShares":92163016.5,"managers":[{"stockCode":"8801620636","stockType":"fund_manager","exchange":"fm","tickerId":1824193290,"name":"任翔"}]},"announcement":{"linkText":"摩根90天持有期债券型证券投资基金2026年第1季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1480213","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3c17fea5b3eb05411db","date":"2025-12-30T16:00:00.000Z","declarationDate":"2026-01-21T16:00:00.000Z","stockId":3000000022307,"sao":"2025年四季度债市收益率曲线呈现陡峭化特征，并走出分化行情，中短信用债表现偏强且估值波动小，长期限信用债和超长期利率债则持续偏弱。具体来看，季度初，中美贸易摩擦再生变局，市场避险情绪升温，收益率随之下行。此后该事件对市场形成持续扰动，市场反复博弈冲突的加剧及缓和。10月末央行宣布恢复公开市场国债买卖操作，点燃了市场做多热情，多数期限收益率均大幅下行。进入11月，市场增量信息有限，债市横盘震荡。临近月末，市场情绪走弱，叠加受到万科拟展期兑付到期本息的消息，收益率上行。12月8日，中共中央政治局召开会议，确认了维持适度宽松的货币政策，债券市场迎来一波修复。中短端下行明显，但长期限及超长期限债券受制于供需结构较弱，整体保持弱势震荡。　　本基金在四季度保持了中性偏低的久期，聚焦于短期限金融债和政金债，保持了较好的流动性，同时辅以波段操作，取得了较为稳健的回报。　　展望后市，预计2026年债券市场将呈现震荡格局并有一定分化。当前信贷增长仍存一定压力，居民信贷仍待企稳，房地产投资仍面临一定下行压力，而财政政策的拉动效应在2026年可能有所放缓，因此基本面并不支撑债市大幅走熊。预计资金面大概率将维持宽松态势，中短债或可继续获得支撑，杠杆套息策略有望继续占优，而长期限利率债则可能继续受制于供需格局维持偏弱的态势。我们将在把握基本面定价的基础上，结合短期技术面因素及政策和焦点事件演变，灵活调整基金久期，把握债券交易机会。","lastUpdated":"2026-03-09T14:05:53.473Z","fund":{"_id":3000000022307,"__csrcFundId":14781,"stockCode":"022307","masterFundShortName":"摩根90天持有期债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":22307,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"摩根90天持有期债券(022307)","lastUpdated":"2026-05-01T03:28:25.915Z","name":"摩根90天持有期债券型证券投资基金","pinyin":"mg90tcyqzqxzqtzjj","fundCollectionId":4000050380000,"inceptionDate":"2025-03-13T16:00:00.000Z","setUpAssetScale":92163016.5,"setUpDate":"2025-03-13T16:00:00.000Z","setUpShares":92163016.5,"managers":[{"stockCode":"8801620636","stockType":"fund_manager","exchange":"fm","tickerId":1824193290,"name":"任翔"}]},"announcement":{"linkText":"摩根90天持有期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=1459219","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3c17fea5b3eb05411da","date":"2025-09-29T16:00:00.000Z","declarationDate":"2025-10-27T16:00:00.000Z","stockId":3000000022307,"sao":"跨过半年末后，资金面趋于宽松，债市有所修复，但随后权益市场持续强势的表现对债券情绪形成压制，在“反内卷“、“雅鲁藏布江水电工程”等政策的助推下，债券收益率明显上行，十年国债月内上行近10BP。7月末，中美经贸会谈在瑞典举行，就会谈结果看，并无特别超预期事件，短期内的宏观不确定性落地，债市得以喘息，并迎来一波超跌反弹行情。进入8月，虽然经济、金融数据仍难言乐观，资金面方面央行亦较为呵护，整体而言基本面和资金面对债券而言都偏向利好，然而在权益市场的亮眼表现下，债券缺乏做多热情，特别是8月中下旬，权益市场呈现加速向上的迹象，债券市场惯性下跌。9月份，《公开募集证券投资基金销售费用管理规定（征求意见稿）》成为债券市场不确定性的主要因素，市场担忧新规或通过投资者行为影响债券市场，收益率震荡上行。　　本基金在三季度随市场调整小幅增加了久期，但整体久期水平处于低位，较好抵御了市场调整，获得了较为稳健的回报。　　三季度以来，股债跷跷板效应明显，但其本质是两类资产的投资者各自对前期的预期进行了修正，故而形成了基本面与市场表现看似脱钩的现象。长期来看，市场定价终将回归基本面，目前的经济及政策环境下，债券趋势性大幅走弱的概率较低。当然对于市场来说，亦有不少潜在的扰动因素，例如中美经贸问题、前述公募基金新规的最终落地情况等。我们将在把握基本面定价的基础上，结合短期技术面因素及政策和焦点事件演变，灵活调整基金久期，把握债券交易机会。","lastUpdated":"2026-03-09T14:05:53.468Z","fund":{"_id":3000000022307,"__csrcFundId":14781,"stockCode":"022307","masterFundShortName":"摩根90天持有期债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":22307,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"摩根90天持有期债券(022307)","lastUpdated":"2026-05-01T03:28:25.915Z","name":"摩根90天持有期债券型证券投资基金","pinyin":"mg90tcyqzqxzqtzjj","fundCollectionId":4000050380000,"inceptionDate":"2025-03-13T16:00:00.000Z","setUpAssetScale":92163016.5,"setUpDate":"2025-03-13T16:00:00.000Z","setUpShares":92163016.5,"managers":[{"stockCode":"8801620636","stockType":"fund_manager","exchange":"fm","tickerId":1824193290,"name":"任翔"}]},"announcement":{"linkText":"摩根90天持有期债券型证券投资基金2025年第3季度报告","linkUrl":"http://eid.csrc.gov.cn/fund/disclose/instance_show_pdf_id.do?instanceid=1380540","linkType":"PDF","source":"csrc_pdf"}},{"_id":"69aed3c17fea5b3eb05411d9","date":"2025-06-29T16:00:00.000Z","stockId":3000000022307,"sao":"2025年年初债市延续了2024年12月以来的强势表现，但后续随着监管对债券收益率下行过快风险的关注以及央行宣布阶段性暂停买入国债的影响，市场情绪走弱，进入震荡行情，叠加资金面持续紧张、跨年资金价格高企，短端收益率上行尤为明显。春节过后，资金面未如预期转松，资金利率居高不下，十年期国债收益率一度接近1.90%位置。二季度债市受关税政策影响较大，4月3日美国的“对等关税”政策大超市场预期，十年期国债收益率连续下行，市场避险情绪高涨。5月7日央行宣布降低存款准备金率0.5%，下调OMO利率10BP，符合市场预期。5月12日中美发布日内瓦经贸会谈联合声明，关税冲突的缓和再次超出市场预期，市场风险偏好快速提升，十年期国债收益率快速上行，随后维持震荡。自5月中以来资金面不断改善，资金利率趋于下行且波动降低，非银机构杠杆率有所提升并加大了信用债的买入，使得信用债表现相对强于利率债。5月20日六大国有行及部分股份行官宣下调存款利率，市场预期银行资金可能进一步流入非银机构，使得信用债需求继续提升，信用债情绪保持高位。6月5日，央行首次提前预告买断式逆回购操作，提振债市情绪，收益率继续向下。6月最后一周，权益市场表现较强，一定程度上对债券市场形成压制，收益率震荡略有上行。　　本基金于3月中成立并于3月底开始陆续建仓，本基金在二季度保持了略高的久期和杠杆率，配置上以高等级信用债和短期利率债为主，保持了较高的流动性，同时辅以波段操作，回撤控制较好，取得了较为稳健的回报。","declarationDate":"2025-07-20T16:00:00.000Z","lastUpdated":"2026-03-09T14:05:53.465Z","mo":"展望后市，基本面对债市仍偏友好，关税政策扰动下三季度出口对经济的拉动预计将有所下滑，地产投资按当前趋势可能继续保持偏弱水平，后续重点关注消费端的刺激政策以及其他潜在的增量财政政策，预计长端收益率维持震荡偏强态势。信用债的展望相对乐观，预计后续资金面大概率维持稳定偏宽松状态，非银机构的杠杆率可能继续提升，信用债配置需求将持续偏强。存款利率下调的影响下，理财规模在三季度有望继续提升，对信用债需求形成支撑，信用利差或可进一步压缩。我们将综合判断政策及焦点事件的演变，争取把握债券配置和交易机会。","fund":{"_id":3000000022307,"__csrcFundId":14781,"stockCode":"022307","masterFundShortName":"摩根90天持有期债券","fundSecondLevel":"bond","stockType":"fund","areaCode":"cn","market":"a","tickerId":22307,"currency":"CNY","masterFundFlag":1,"status":"normal","exchange":"jj","shortName":"摩根90天持有期债券(022307)","lastUpdated":"2026-05-01T03:28:25.915Z","name":"摩根90天持有期债券型证券投资基金","pinyin":"mg90tcyqzqxzqtzjj","fundCollectionId":4000050380000,"inceptionDate":"2025-03-13T16:00:00.000Z","setUpAssetScale":92163016.5,"setUpDate":"2025-03-13T16:00:00.000Z","setUpShares":92163016.5,"managers":[{"stockCode":"8801620636","stockType":"fund_manager","exchange":"fm","tickerId":1824193290,"name":"任翔"}]},"announcement":{"linkText":"摩根90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=1345694","linkType":"PDF","source":"csrc_pdf"}}]}