股指每日观察
　　[市场回顾):周四国债期货全天震荡上行，尾盘小幅收涨。。
　　[资金市场):公开市场共有730亿逆回购到期，央行开展30亿7天逆回购，当日净回笼资金700亿元。隔夜加权利率回落，交易所短端资金利率小幅回落,3月以来资金中枢平稳回落，流动性合理充裕，短期内资金对行情影响有限。
　　[行情研判]:早盘统计局公布2月通胀数据，CPI与PPI增速均弱于预期，CPI中除食品价格大幅回落外，核心CPI增速再度回落至0.6%。在分析此前货币政策执行报告的时候我们曾指出，领导层对于通胀的关注有所回落,而今日数据再次告诉我们，当下需求端仍有待提振，通胀水平较为温和，并不会对货币政策空间形成干扰。尽管近期预期偏弱，但十年活跃券220025利率到2.9%以下后，继续下行的阻力明显增加，当前预期颇为纠结，交易盘需注意参与节奏，建议及时止盈。.

研究报告全文：73030770032CPIPPICPICPI0622002529TFTS10020510083510074001000500254360479464024538509869-8350168298994225721834866831534合约走势150000000持仓变动10150101001000000001010010090500000001005010080000001000010070-50000000995010060990010050-100000000-1500000002023021520230216202302172023021820230219202302202023022120230222202302232023022420230225202302262023022720230228202303012023030220230303202303042023030520230306202303072023030820230309TFTTSRHS20230214TSTFT1000000000主力合约成交量主力合约持仓量200000000080000000080000000016000000006000000006000000001200000000400000000400000000800000000200000000200000000400000000000000000000000TSTFTTFTTSRHS2年期活跃券基差1020TS-TF跨品种价差1010040060100803510150500301006025040101010040200301005015100201002010001000220028200005RHS价差右元TS2306CFETF2306CFE5年期活跃券基差2TS-T跨品种价差1212101030351111101010053030090910003025080807079953020060699030150505230002220022RHS价差右元TS2306CFET2306CFE162010年期活跃券基差2TF-T跨品种价差151020102418141015102210201316101012101810051114101610001010141209995101208109901010220017220025RHS价差右元T2306CFETF2306CFE22582536270728402880-162-144052-0370751Y3Y5Y7Y右10Y右曲线形态272983010252882325002782126820-10191725815-201Y3Y5Y7Y10Ybp右2023-03-082023-03-07中美利差bpbp美债10-2利差5003000040020000200001500030010000100002000005000100-10000000000-20000-5000-10000-15000中美利差RHS美债10Y国债10YDR001162019712603995-143052DR007192037780057-13064DR0142016-27324901293R001171619396266121-175172R00720841436020148077R0142230-22095567101bp银存间资金价格走势资金日变动35303000292320002017100011051000000-1000DR001DR007DR014DR021DR1MDR2MDR3MDR001DR007DR014bp右2023-03-082023-03-07千元bp质押式回购成交量资金分层120000000000000750010000000000000055008000000000000035006000000000000015004000000000000020000000000000-50000000-25002022-12-062023-01-062023-02-062023-03-06DR001R001隔夜七天