瑞达期货国债期货日报-20260330

1. Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - On March 27, the National Bureau of Statistics announced the profit data of industrial enterprises above designated size from January to February. The profits of national industrial enterprises above designated size increased by 15.2% year-on-year, and the growth rate accelerated by 14.6 percentage points compared with the whole previous year. The profits of industries such as non-ferrous metals, chemicals, and semiconductors soared in the first two months of this year [2]. - The State Council executive meeting emphasized the need to fully tap the development potential of the service industry, promote the specialization of producer services and their extension to the high - end of the value chain, and promote the high - quality, diversified, and convenient development of consumer services [3]. - The conflict between the US, Israel, and Iran continues to be intense and stalemated. Iran has stepped up its attacks on the US and Israel, and the frequency and intensity of air - raids on Tehran have increased significantly. The market's inflation expectations have generally risen, and the pricing logic of the bond market is gradually shifting from inflation factors to concerns about economic slowdown [3][4]. - The yields of treasury bond spot bonds generally declined on Monday. Treasury bond futures strengthened across the board. The DR007 weighted average interest rate fell back to around 1.43%. With the support of existing and incremental policies, the production side has significantly accelerated at the beginning of the year, and the profits of most industries have rebounded. The central bank will adhere to a supportive monetary policy stance and continue to implement a moderately loose monetary policy [4]. 3. Summary by Relevant Catalogs 3.1 Futures Market - Futures Prices and Trading Volumes: The closing prices of T, TF, TS, and TL main contracts increased by 0.15%, 0.1%, 0.04%, and 0.38% respectively. The trading volumes of T and TL main contracts increased by 6510 and 6722 respectively, while those of TF and TS main contracts decreased by 533 and 3353 respectively [2]. - Futures Spreads: Most of the spreads showed changes, such as the TL2606 - 2609 spread decreased by 0.03, and the T2606 - 2609 spread increased by 0.01 [2]. - Futures Positions: The main contract positions of T, TF, TS, and TL all increased. Among the top 20 long and short positions, there were different changes in each contract [2]. 3.2 Bond Market - CTD Bonds: The net prices of several CTD bonds increased, such as 260007.IB (6y) increased by 0.1233 [2]. - Active Treasury Bonds: The yields of 1 - 10y active treasury bonds generally declined, with the 1y yield decreasing by 0.75bp, the 3y yield decreasing by 1.15bp, etc. [2]. 3.3 Interest Rates - Short - term Interest Rates: The silver - pledged overnight rate decreased by 1.41bp, and the Shibor overnight rate increased by 0.10bp. The silver - pledged 7 - day rate decreased by 1.23bp, and the Shibor 7 - day rate decreased by 1.00bp, etc. [2]. - LPR Rates: The 1y and 5y LPR rates remained unchanged at 3.00% and 3.5% respectively [2]. 3.4 Open Market Operations - The issuance scale of reverse repurchase operations was 2695 billion yuan, the maturity scale was 80 billion yuan, and the interest rate was 1.4% for 7 days [2]. 3.5 Key Events and Data to Watch - March 31, 09:30, China's official manufacturing PMI for March - April 3, 20:30, US seasonally - adjusted non - farm payrolls for March [4]