2月6日央行开展315亿元7天期逆回购操作 中新网2月6日电 据央行网站消息，2026年2月6日，中国人民银行以固定利率、数量招标方式开展了315 亿元7天期逆回购操作。 | | 7天期逆回购操作情况 | | | | --- | --- | --- | --- | | 期限 | 操作利率 | 投标量 | 中标量 | | 7天 | 1.40% | 315亿元 | 315亿元 | 来源：中国新闻网 编辑：郭晋嘉 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 图片来源：央行网站截图 同时，以固定数量、利率招标、多重价位中标方式开展了3000亿元14天期逆回购操作。 ...

2月5日央行开展1185亿元7天期逆回购操作 中新网2月5日电 据央行网站消息，2026年2月5日，中国人民银行以固定利率、数量招标方式开展了1185亿元7天期逆回购 操作。 | 期限 113220508 | 操作利率 Company of | 投标量 Concession of the | 中标量 BAND STATES | | --- | --- | --- | --- | | 7天 | Company of the company 1.40% | 1185亿元 A 1900 100 | 1185亿元 Controller | 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 图片来源：央行网站截图 来源：中国新闻网 编辑：张澍楠 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 ...

| | | | | 20260205申万期货品种策略日报-双焦(JI&J) | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 申银万国期货研究所 沈击奉 (从业编号F03148029 交易咨询号Z0022842) | | | | | | shenyb@sywggh.com.cn 021-50582113 | | | | | | | | | | | 111 | | | 11 | | | | 9 层 | 1月 | 5月 | | 1月 | 5月 | 9 H | | | 前1日收盘价 | 1445.0 | 1209. 0 | 1281.5 | 1913.0 | 1770.0 | 1831.5 | | | 前2日收盘价 | 1410.0 | 1167.5 | 1245.5 | 1874.0 | 1715.0 | 1784. 0 | | EH | 煮跌 | 35.0 | 41.5 | 36.0 | 39.0 | 55.0 | 47.5 | | स्त | 煮跌幅 | 2. 48% | 3.55% | 2. 89% | 2. 08% | ...

09:25 A股开盘丨三大指数集体低开 上证指数低开0.66%，深证成指低开0.96%，创业板指低开1.02%，科创综指低开1.60%。 | 代码 | 名称 | 两日图 | 现价 | 消費 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | 1W | 4075.03 | -27.18 | -0.66% | | 399001 | 深证成指 | VW | 14020.84 | -135.43 | -0.96% | | 399006 | 创业板指 | MW | 3277.72 | -33.79 | -1.02% | | 000680 | 科创综指 | ﮐ | 1756.94 | -28.48 | -1.60% | 盘面上，黄金、基本金属板块重拾跌势，光伏、算力硬件、半导体、AI应用、金融科技概念股走弱；银行板块局部走强。 09:23 央行公开市场开展1185亿元7天期逆回购操作，操作利率1.40%。同时开展了3000亿元14天期逆回购操作。今日3540亿元逆回购到期。 盘面上，黄金、基本金属板块重拾跌势，光伏、算力硬件、半导体、AI应用、金 ...

央行公告，2026年2月5日，中国人民 银行以固定利率、数量招标方式开展了1185亿元7天期逆回购操 作，操作利率为1.40%，投标量与中标量均为1185亿元。同时，以固定数量、利率招标、多重价位中标 方式开展了3000亿元14天期逆回购操作。 ...

每经AI快讯，2月5日，央行开展1185亿元7天逆回购操作，操作利率为1.40%。 ...

| | | 20260204申万期货品种策略日报-双焦(JI&J) | 申银万国期货研究所 沈击奉 (从业编号F03148029 交易咨询号Z0022842) | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | shenvb@sywggh. con. cn 021-50582113 | | | | | | | | | IL | | | | | | 18 | | | 1月 | | | 5月 | 9月 | 1月 | 5月 | 9月 | | 前1日收盘价 | 1410.0 | | 1167.5 | 1245.5 | 1874. 0 | 1715.0 | 1784.0 | | 前2日收盘价 | 1397.5 | | 1141.5 | 1226.0 | 1840.0 | 1680. 5 | 1746.5 | | 楽時 | 12.5 | Ele | 26.0 | 19.5 | 34. 0 | 34.5 | 37.5 | | 煮跌幅 | 0. 89% | स्त | 2. 28% | 1.59% | 1.85% | 2. 05% | 2.1 ...

| 申银万国期货研究所 沈击奉 (从业编号F03148029 交易咨询号Z0022842) | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | shenvb@sywggh. con. cn 021-50582113 | | | | | | | | | IL | | | | | | 18 | | | 1月 | | | 5月 | 9月 | 1月 | 5月 | 9月 | | 前1日收盘价 | 1410.0 | | 1167.5 | 1245.5 | 1874. 0 | 1715.0 | 1784.0 | | 前2日收盘价 | 1397.5 | | 1141.5 | 1226.0 | 1840.0 | 1680. 5 | 1746.5 | | 楽時 | 12.5 | Ele | 26.0 | 19.5 | 34. 0 | 34.5 | 37.5 | | 煮跌幅 | 0. 89% | स्त | 2. 28% | 1.59% | 1.85% | 2. 05% | 2.15% | | | | 10 | | | | | | | 成交童 | ...

每经AI快讯，2月4日，央行开展750亿元7天逆回购操作，操作利率为1.40%，与此前持平。 ...

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Viewpoints - The bond market oscillates between stable growth and easing expectations. Influenced by the stock market, the Political Bureau meeting signaled loose monetary policy, the LPR remained unchanged, and the Fed's rate - cut expectations and global trade uncertainties increased the uncertainty of foreign capital inflows. Short - term attention should be paid to policy signals at the end of the month [3]. 3. Summary by Directory I. Interest Rate Pricing Tracking Indicators - **Price Indicators**: China's CPI (monthly) had a 0.20% month - on - month increase and a 0.80% year - on - year increase; China's PPI (monthly) had a 0.20% month - on - month increase and a - 1.90% year - on - year decrease [9]. - **Monthly Economic Indicators**: Social financing scale was 442.12 trillion yuan, with a month - on - month increase of 2.05 trillion yuan (+0.47%); M2 year - on - year growth was 8.50%, with a month - on - month increase of 0.50% (+6.25%); Manufacturing PMI was 49.30%, with a month - on - month decrease of 0.80% (-1.60%) [10]. - **Daily Economic Indicators**: The US dollar index was 97.61, up 0.49 (+0.50%); The offshore US dollar to RMB exchange rate was 6.9411, down 0.011 (-0.16%); SHIBOR 7 - day was 1.49, down 0.10 (-6.01%); DR007 was 1.49, down 0.10 (-6.40%); R007 was 1.68, up 0.17 (+11.44%); The 3 - month inter - bank certificate of deposit (AAA) was 1.58, unchanged (+0.00%); The AA - AAA credit spread (1Y) was 0.09, unchanged (+0.00%) [11]. II. Overview of the Treasury and Treasury Futures Market The report provides multiple charts showing the trends and proportions related to the treasury futures market, including the closing prices, price changes, precipitation of funds, positions, and net positions of various treasury futures varieties [13][14][18]. III. Overview of the Money Market Liquidity The report presents charts on the inter - bank pledged repurchase transaction statistics, local government bond issuance, the spread between China Development Bank bonds and treasury bonds, treasury bond issuance, Shibor interest rate trends, and the yield trends of inter - bank certificates of deposit (AAA) [24][27][29]. IV. Spread Overview The report shows the trends of inter - period spreads of various treasury futures varieties and the spreads between spot bond term spreads and futures cross - variety spreads through multiple charts [34][35][37]. V. Two - Year Treasury Futures The report includes charts on the implied interest rate and the maturity yield of the two - year treasury futures main contract, the IRR of the TS main contract and the funding rate, and the three - year basis and net basis trends of the TS main contract [43][45]. VI. Five - Year Treasury Futures The report provides charts on the implied interest rate and the maturity yield of the five - year treasury futures main contract, the IRR of the TF main contract and the funding rate, and the three - year basis and net basis trends of the TF main contract [47][55]. VII. Ten - Year Treasury Futures The report offers charts on the implied yield and the maturity yield of the ten - year treasury futures main contract, the IRR of the T main contract and the funding rate, and the three - year basis and net basis trends of the T main contract [56][57]. VIII. Thirty - Year Treasury Futures The report contains charts on the implied yield and the maturity yield of the thirty - year treasury futures main contract, the IRR of the TL main contract and the funding rate, and the three - year basis and net basis trends of the TL main contract [62][67]. 4. Strategies - **Unilateral**: As the repurchase rate declines, the prices of treasury futures oscillate [4]. - **Arbitrage**: Pay attention to the decline of the 2603 basis [4]. - **Hedging**: There is medium - term adjustment pressure, and short - sellers can use far - month contracts for moderate hedging [4].