Bond prices generally continue to rise, alert to deal with credit

Bond prices generally continued the rally in Beijing in February 15th to alert the credit debt news reporter Cao Li Ji Cong reports: water temperature after the Spring Festival, the bond market remarkable performance, bond prices generally continued gains yields showed a downward trend. By the end of February 15th, the Shanghai Composite Index rose 0.14%, reaching 155.54 points. Corporate bond index closed at 199.16 points, up 0.15%; corporate bond index closed at 172.29 points, up 0.11%. XinDa securities fixed income analyst Hu Jiani said that the recent global financial turmoil, stimulating the risk aversion is the main reason for the bond market performance is not good. During the Spring Festival, the stock market in developed economies was shaking violently, and the Nikkei index was the biggest single week drop since the international financial crisis. In this case, the desire to hedge asset into the bond market is strong. Fixed income based analyst Xiangcai Securities believes that the domestic macroeconomic and policy side effects to the bond market is relatively stable, there is no change in the logic, cattle debt is still expected to continue. First of all, before the holiday, the central bank through open market repurchase operation to release funds to maintain signal stable, although the money market interest rates fluctuate slightly due to seasonal factors, but overall is relatively stable; secondly, during the Spring Festival, the domestic and overseas consumption to maintain good growth momentum, showing the growth of domestic demand is still in power. Insiders also reminded, should be vigilant credit bond credit spreads again expand. Sino Thai securities analyst Xiang Feiyan said in the research report, from the credit spreads of various types of bonds, the recent credit spreads mainly shocks. Within 1 years, the credit spreads of short term bonds are slightly larger, while the rest of the term is slightly increased. The gap between the ratings of corporate bonds is obvious, among which the rating spreads between AA- bonds and other deadlines remain high. For corporate debt, it is still in the phase of upward credit spreads. Therefore, the investment value of the postganglionic corporate bonds is still not high. Enter Sina Financial shares] discussion

债券价格普遍延续涨势 警惕应对信用债    本报北京2月15日讯 记者曹力水温济聪报道:春节后的债券市场表现可圈可点,债券价格普遍延续涨势,收益率呈现下行态势。截至2月15日收盘,上证国债指数涨幅0.14%,达155.54点。企业债指数报收于199.16点,上涨0.15%;公司债指数报收于172.29点,上涨0.11%。    信达证券固定收益分析师胡佳妮表示,近期全球金融市场动荡刺激避险情绪是债市表现不俗的主要原因。春节期间,发达经济体股市震动剧烈,日经指数创下国际金融危机以来最大单周跌幅。在此情况下,避险资产进入债市意愿强烈。    湘财证券固定收益总部分析师认为,国内宏观经济和政策面较为平稳,影响债券市场走向的逻辑没有变化,债牛仍有望持续。首先,春节假期前,央行通过公开市场逆回购操作释放出维持资金面稳定的信号,货币市场利率虽因季节性因素影响略有波动,但整体较为稳定;其次,春节期间国内和海外消费均保持良好增长态势,显示出内需增长动力仍在。    也有业内人士提醒,应警惕信用债信用利差的再次扩大。中泰证券分析师项飞燕在研报中表示,从各类债券的信用利差上看,近期信用利差以震荡为主。中短票据1年以内超短期限债券的信用利差下降幅度稍大,其余期限以小幅上升为主。企业债各评级间的差距明显,其中,AA-级债券与其他期限间的评级利差持续维持高位。对公司债而言,目前依旧处于信用利差逐渐上行的阶段。因此节后公司债的投资价值仍不高。 进入【新浪财经股吧】讨论相关的主题文章:


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