今天上午，沪深交易所国债逆回购收益率大幅拉升，多个期限的国债逆回购品种年化收益率突破2%。 行情数据显示，今天上午，沪市1天期、2天期、3天期、4天期、7天期国债逆回购品种均强劲上涨，沪 市2天期国债逆回购品种盘中最高年化收益率达到2%，涨幅超过20%；沪市3天期、4天期国债逆回购品 种盘中最高年化收益率均超过2%，创出近期新高；沪市7天期国债逆回购品种盘中年化收益率最高达 2.150%。 临近2026年元旦小长假，沪深交易所国债逆回购收益率又开始大幅上涨，在计息天数方面也迎来比较好 的窗口期。 根据沪深交易所国债逆回购计息规则测算，今天（2025年12月29日）和明天（2025年12月30日）或是本 次小长假前较好的国债逆回购操作时间窗口，能享受相对较多的计息天数，其中在今天操作3天期至7天 期的国债逆回购，计息天数均达到7天。 沪深交易所多个期限国债逆回购收益率大涨 深市1天期、2天期、3天期、4天期、7天期国债逆回购品种也有类似的表现，其中，除1天期品种外，其 他品种盘中最高年化收益率均超过2%。 今明两天或是元旦小长假前最佳时间"窗口" 根据目前沪深交易所的规定，国债逆回购的计息天数为资金实际占用天数 ...

临近2026年元旦小长假，沪深交易所国债逆回购收益率又开始大幅上涨，在计息天数方面也迎来比较好的窗口期。 根据沪深交易所国债逆回购计息规则测算，今天（2025年12月29日）和明天（2025年12月30日）或是本次小长假前较好的国债逆回购操作时间窗口，能享 受相对较多的计息天数，其中在今天操作3天期至7天期的国债逆回购，计息天数均达到7天。 沪深交易所多个期限国债逆回购收益率大涨 今天上午，沪深交易所国债逆回购收益率大幅拉升，多个期限的国债逆回购品种年化收益率突破2%。 行情数据显示，今天上午，沪市1天期、2天期、3天期、4天期、7天期国债逆回购品种均强劲上涨，沪市2天期国债逆回购品种盘中最高年化收益率达到 2%，涨幅超过20%；沪市3天期、4天期国债逆回购品种盘中最高年化收益率均超过2%，创出近期新高；沪市7天期国债逆回购品种盘中年化收益率最高达 2.150%。 深市1天期、2天期、3天期、4天期、7天期国债逆回购品种也有类似的表现，其中，除1天期品种外，其他品种盘中最高年化收益率均超过2%。 | | | | 上交所回购 | | | | --- | --- | --- | --- | --- | --- | ...

临近2026年元旦小长假，沪深交易所国债逆回购收益率又开始大幅上涨，在计息天数方面也迎来比较好的窗口期。 根据沪深交易所国债逆回购计息规则测算，今天（2025年12月29日）和明天（2025年12月30日）或是本次小长假前较好的国债逆回购操作时间窗口，能享 受相对较多的计息天数，其中在今天操作3天期至7天期的国债逆回购，计息天数均达到7天。 沪深交易所多个期限国债逆回购收益率大涨 今天上午，沪深交易所国债逆回购收益率大幅拉升，多个期限的国债逆回购品种年化收益率突破2%。 | | | | 上交所回购 | | | | | --- | --- | --- | --- | --- | --- | --- | | 名称 ▲ | 现价 | 涨跌 | 涨跌幅 | 成交量 | 持仓 年初至今 | | | GC001 | 1.945 | 0.260 | | 15.43% 5789.081 | | 8.66% | | GC002 | 1.970 | 0.350 | | 21.60% 328.68亿 | - | 11.61% | | GC003 | 2.015 | 0.355 | | 21.39% 239.67亿 | - | 19 ...

Core Viewpoint - The yield of government bond reverse repos on the Shanghai and Shenzhen exchanges has significantly increased ahead of the National Day holiday in 2025, creating a favorable window for investors to engage in these transactions [2][3]. Group 1: Yield Increase - The yield for the 1-day government bond reverse repo (GC001) on the Shanghai Stock Exchange surged by over 40%, reaching an annualized yield close to 2%, marking a two-month high [3]. - The Shenzhen Stock Exchange's 1-day government bond reverse repo also saw a rise exceeding 50%, with its annualized yield nearing 2% [3]. - Other maturities, including the 2-day and 3-day reverse repos, experienced increases of over 30% in annualized yield [5]. Group 2: Interest Calculation - The interest calculation for government bond reverse repos is based on the actual days the funds are occupied, with today (September 29, 2025) being particularly advantageous for transactions [7]. - For 1-day reverse repos executed today, the interest calculation period is 9 days, while for 2-day to 7-day reverse repos, it is 10 days [8]. - If transactions are delayed until tomorrow (September 30, 2025), the interest calculation period will drop to just 1 day, making it less favorable [7][8]. Group 3: Historical Context - Historically, yields for government bond reverse repos have often increased by over 10% near quarter-end, year-end, and significant holidays, with some instances exceeding 50% [8]. - Despite a general decline in market interest rates, yields for government bond reverse repos remain higher than those for bank deposits and wealth management products during these key periods [8]. Group 4: Investment Considerations - Government bond reverse repos are considered low-risk investments, often referred to as "gold-edged bonds," making them an attractive option for investors with cash in stock accounts during the holiday period [8].

Core Viewpoint - The article highlights a significant increase in the yield of government bond reverse repos on the Shanghai and Shenzhen exchanges, particularly as the National Day holiday approaches, presenting a favorable window for investors to engage in these transactions [1][2][3]. Summary by Sections Market Performance - The yield for the 1-day government bond reverse repo (GC001) on the Shanghai exchange surged by over 40%, reaching an annualized yield close to 2%, marking a two-month high [3]. - The Shenzhen exchange's 1-day government bond reverse repo also saw a rise exceeding 50%, with similar yield levels [3]. - Other maturities, including 2-day and 3-day reverse repos, experienced increases of over 30% in annualized yields [5]. Timing and Strategy - The article emphasizes that today (September 29, 2025) is an optimal time for executing government bond reverse repos due to favorable interest calculation days, with 1-day repos yielding 9 days of interest and 2 to 7-day repos yielding 10 days [8][10]. - In contrast, executing these transactions tomorrow (September 30, 2025) would result in only 1 day of interest, making it less advantageous [8][10]. - Historical data indicates that yields often rise significantly before key dates such as quarter-end and holidays, with past instances showing increases over 10% and even exceeding 50% [10]. Investment Considerations - The article notes that government bond reverse repos are considered low-risk investments, often referred to as "gold-edged bonds," making them an attractive option for investors with cash in stock accounts [10]. - Current average annualized yields for money market funds are around 1.3%, with some funds like Tianhong Yu'ebao dropping to new lows of just over 1% [11]. Operational Guidance - Investors are advised to choose between Shanghai and Shenzhen markets based on which offers higher annualized yields for the same maturity [12]. - The article outlines various maturities available for reverse repos, including 1-day to 182-day options, allowing investors to select based on their cash flow needs [13]. - It also provides practical instructions for placing orders and highlights that most brokerage platforms now feature user-friendly interfaces for executing these transactions [15][16].