债市值言：中债收益率曲线和指数日评2026年3月24日

2026-03-24 22:31:05 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）107.4403，上涨0.0304%，而包含利息再投资的中债综合指数（财富）256.9822，上涨0.0369%，平均市值法到期收益率为2.0326%，平均市值法久期为5.8217。

　　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期限稳定在1.18%；2年期收益率下行1BP至1.31%；10年期收益率稳定在1.83%。

　　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1.53%，3年期收益率稳定在1.78%，5年期收益率下行1BP至1.92%。中债中短期票据收益率曲线（A）1年期下行1BP至6.74%。

　　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23日美国国债收益率整体下行。具体来看，美国国债收益率曲线3M期限稳定在3.74%，3年期收益率下行5BP至3.85%，10年期收益率下行5BP至4.34%。

　　【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24日中国人民银行以固定利率、数量招标方式开展了175亿元7天期逆回购操作。

　　货币市场

　　今日Shibor小幅波动，隔夜Shibor报1.3180%，上行0.10个基点；一个月Shibor报1.5040%，下行0.55个基点。

　　国债期货

　　3月24日，2年期国债期货主力合约TS2606下行0.02%至102.478，对应期货收益率上行1.45个基点至1.3346%；5年期国债期货主力合约TF2606稳定在105.915，对应期货收益率上行0.36个基点至1.5306%；10年期国债期货主力合约T2606上行0.02%至108.165，对应期货收益率下行0.23个基点至1.7071%；30年期国债期货主力合约TL2606上行0.52%至111.240，对应期货收益率下行2.61个基点至2.3903%。

　　股票市场

　　今日沪深两市整体上涨，上证综指上涨68.00点（或1.78% ）至3881.28点，深证成指上涨191.04点（或1.43% ）至13536.56点，创业板指上涨16.32点（或0.50% ）至3251.55点。

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　　中债公募REITs日报

　　2026年3月24日，已上市79只公募REITs收盘价较前一交易日平均上涨0.20%;平均换手率为0.32%,较前一交易日下降0.04%；平均成交量为108.38万份，较前一交易日减少4.01%；总成交金额为3.87亿元，较前一交易日减少3.34%。

　　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国泰海通济南能源供热价格涨幅最大,达0.06元。估值收益率方面，79只公募REITs中债估值收益率平均下行1.60BP，其中招商高速公路REIT下行幅度最大，达12.67BP。

　　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 0.0304%; and the total return index including interest reinvested revenue rose by 0.0369%. In addition, the Cap-weighted YTM was 2.0326%. And the Cap-weighted duration was 5.8217.

　　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 0BP, -1BP and 0BP to 1.18%, 1.31% and 1.83%.

　　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, 0BP and -1BP to 1.53%, 1.78% and 1.92%, respectively; while the ChinaBond CP&Note Yield Curve (A) of 1Y went down by 1BP to 6.74%.

　　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 down on March 23, 2026. To be more specific, the yield of US Treasury Yield Curve of 3M/3Y/10Y changed by 0BP, -5BP and -5BP to 3.74%, 3.85% and 4.34%, 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 RMB17.5 billion through quantity bidding at a fixed interest rate on March 24, 2026.

　　Money Market The Shibor fluctuated slightly today. The overnight Shibor went up by 0.10BP to 1.3180% and 1M Shibor went down by 0.55BP to 1.5040%.

　　Treasury Futures On March 24th, TS2606 went down by 0.02% to 102.478, the yield went up by 1.45BP to 1.3346%; TF2606 was stable at 105.915, the yield went up by 0.36BP to 1.5306%; T2606 went up by 0.02% to 108.165, the yield went down by 0.23BP to 1.7071%; TL2606 went up by 0.52% to 111.240, the yield went down by 2.61BP to 2.3903%.

　　Stock Market The stock markets went up today. SSE composite index went up by 68.00 points (or 1.78%) to 3881.28 points, Shenzhen component index went up by 191.04 points (or 1.43%) to 13536.56 points, and ChiNext price index went up by 16.32 points (or 0.50%) to 3251.55 points.