债市值言：中债收益率曲线和指数日评2026年3月3日

2026-03-03 18:54:56 来源：中债估值中心

　　债市观察

　　中债指数走势

　　今日债券市场指数小幅波动，其中不包含利息再投资的中债综合指数（净价）107.5826，上涨0.0077%，而包含利息再投资的中债综合指数（财富）256.9479，上涨0.0145%，平均市值法到期收益率为2.0367%，平均市值法久期为5.8135。

　　利率品种

　　今日利率债市场收益率小幅波动。具体来看，中债国债收益率曲线3M期限下行3BP至1.26%；2年期收益率下行1BP至1.35%；10年期收益率稳定在1.78%。

　　信用品种

　　今日信用债市场收益率小幅波动。具体来看，中债中短期票据收益率曲线（AAA）3M期限下行1BP至1.63%，3年期收益率下行1BP至1.80%，5年期收益率稳定在1.93%。中债中短期票据收益率曲线（A）1年期稳定在6.80%。

　　具体波动情况请见《各主要关键期限到期收益率两日变动》。

　　海外市场

　　3月2日美国国债收益率整体上行。具体来看，美国国债收益率曲线3M期限上行5BP至3.72%，3年期收益率上行10BP至3.49%，10年期收益率上行8BP至4.05%。

　　【注】

　　1、中债信用债收益率曲线基于中债市场隐含评级编制。

　　2、中债市场隐含评级变动见中债综合业务平台及下载通道“中债市场隐含评级”。

　　其他市场观察

　　公开市场

　　央行公告，2026年3月3日中国人民银行以固定利率、数量招标方式开展了343亿元7天期逆回购操作。

　　货币市场

　　今日Shibor小幅波动，隔夜Shibor报1.2670%，下行4.80个基点；一个月Shibor稳定在1.5500%。

　　国债期货

　　3月3日，2年期国债期货主力合约TS2606上行0.01%至102.470，对应期货收益率下行0.40个基点至1.3386%；5年期国债期货主力合约TF2606稳定在106.065，对应期货收益率上行0.12个基点至1.4912%；10年期国债期货主力合约T2606下行0.01%至108.500，对应期货收益率上行0.15个基点至1.6544%；30年期国债期货主力合约TL2606上行0.09%至112.770，对应期货收益率下行0.65个基点至2.3078%。

　　股票市场

　　今日沪深两市整体下跌，上证综指下跌59.91点（或-1.43% ）至4122.68点，深证成指下跌443.40点（或-3.07% ）至14022.39点，创业板指下跌84.68点（或-2.57% ）至3209.48点。

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　　中债公募REITs日报

　　2026年3月3日，已上市79只公募REITs收盘价较前一交易日平均上涨0.36%;平均换手率为0.56%,较前一交易日上升0.04%；平均成交量为164.70万份，较前一交易日增加3.75%；总成交金额为6.10亿元，较前一交易日增加7.89%。

　　中债估值方面，今日79只公募REITs中债估值价格平均上涨0.01元，其中经营权类REITs中航京能国际能源价格涨幅最大,达0.11元。估值收益率方面，79只公募REITs中债估值收益率平均下行2.81BP，其中华夏金隅智造工场REIT下行幅度最大，达21.35BP。

　　如需全量中债公募REITs估值数据，请与市场营销部联系。欢迎广大客户使用并提出宝贵意见。

　　联系方式：市场营销部400-898-8989

　　估值部 010-88174127

　　Bond Market Performance ChinaBond Index Trend Analysis ChinaBond Composite Index tracking general performance of bond market fluctuated today. The net price index excluding interest revenue rose by 0.0077%; and the total return index including interest reinvested revenue rose by 0.0145%. In addition, the Cap-weighted YTM was 2.0367%. And the Cap-weighted duration was 5.8135.

　　Sovereign Bonds The Sovereign Bonds market fluctuated slightly today. To be more specific, the ChinaBond Government Bond Yield Curve of 3M/2Y/10Y changed by -3BP, -1BP and 0BP to 1.26%, 1.35% and 1.78%.

　　Corporate Bonds The Corporate Bonds market fluctuated slightly today. To be more specific, the ChinaBond CP&Note Yield Curve (AAA) of 3M/3Y/5Y changed by -1BP, -1BP and 0BP to 1.63%, 1.80% and 1.93%, respectively; while the ChinaBond CP&Note Yield Curve (A) of 1Y was stable at 6.80%.

　　Further information about fluctuations of bond market yields please refer to the chart of Changes of The Key-Term YTM of Main Yield Curves.

　　Overseas market The US Sovereign Bonds market went up on March 2, 2026. To be more specific, the yield of US Treasury Yield Curve of 3M/3Y/10Y changed by 5BP, 10BP and 8BP to 3.72%, 3.49% and 4.05%, respectively.

　　Notes

　　1. The ChinaBond yield curves of corporate bonds are based on ChinaBond Market Implied Rating.

　　2. The daily update of ChinaBond Market Implied Rating please refer to Client terminal of ChinaBond Integrated Operation Platform and ChinaBond data download channel under ChinaBond Yield Curve and ChinaBond Market Implied Rating.

　　Data and Statistics OMO The People’s Bank of China conducted 7-day reverse repo operations in the amount of RMB34.3 billion through quantity bidding at a fixed interest rate on March 3, 2026.

　　Money Market The Shibor fluctuated slightly today. The overnight Shibor went down by 4.80BP to 1.2670% and 1M Shibor was stable at 1.5500%.

　　Treasury Futures On March 3rd, TS2606 went up by 0.01% to 102.470, the yield went down by 0.40BP to 1.3386%; TF2606 was stable at 106.065, the yield went up by 0.12BP to 1.4912%; T2606 went down by 0.01% to 108.500, the yield went up by 0.15BP to 1.6544%; TL2606 went up by 0.09% to 112.770, the yield went down by 0.65BP to 2.3078%.

　　Stock Market The stock markets went down today. SSE composite index went down by 59.91 points (or -1.43%) to 4122.68 points, Shenzhen component index went down by 443.40 points (or -3.07%) to 14022.39 points, and ChiNext price index went down by 84.68 points (or -2.57%) to 3209.48 points.

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