收盘日评：银行间债券市场

1y3y5y7y1.35001.39501.47601.57001.34001.39901.47751.5665-0.01000.00400.0015-0.00351 y3y5y1.48001.58001.66501.48001.58001.66000.00000.0000-0.00501.49001.55501.59001.48751.55501.5900-0.00250.00000.0000评级1M3M6MAAA1.711.691.69AA+1.751.71.74AA1.761.731.78AA-1.891.952.02（BP）AAA1.7101.72-31.74-5AA+1.7501.74-41.75-1AA1.78-21.76-31.79-1AA-1.91-22-52.020 10y30y1.67201.88801.66801.8830-0.0040-0.00507y10y1.74001.76501.73501.7600-0.0050-0.00501.70001.73001.69501.7265-0.0050-0.00359M12M1.691.761.721.771.81.822.021.991.72-31.7601.75-31.81-41.84-41.8201.86161.990 1.96%低估值1bp位置。5Y及以上期限，25电网MTN015（AAA，9.76Y）在2.025%低估值1bp成交；25中化股MTN004（AAA，9.82Y）成交在2.165%低估值3bp位置。总体而言，今日中票收益下行。评级1y3y5y7y10y绝对收益率AAA+1.721.821.912.11NoneAAA1.791.912.04NoneNoneAA+1.842.032.34NoneNoneAA1.962.252.5NoneNone与昨日收益变动对照（BP）AAA+1.73-11.83-11.92-12.13-2NoneNoneAAA1.8-11.9102.05-1NoneNoneNoneNoneAA+1.8402.04-12.35-1NoneNoneNoneNoneAA1.97-12.2412.491NoneNoneNoneNone今日企业债成交活跃，基金，券商，保险，理财均有参与。可质押方面，25东证S1AAA成交在1.65%。21国信06AAA成交在1.68%，基金卖出，基金买入。24国券G5AAA成交在1.77%，银行卖出，基金买入。城投方面，22张公G5AAA成交在1.74%。23北城01AA+成交在1.83%，券商资管卖出，基金买入。25通城01AAA成交在2.00%，银行理财卖出，银行理财买入。长端方面，沪国投K1AAA成交在22.0925%。25中化01AAA成交在22.24%。25诚通06AAA成交在2.28%。今日银行债市场成交情绪相对清淡，成交以3-5Y的大行二永为主。1-3年的二永主要成交在估值-3BP到估值+1BP之间，主要为基金和银行出给理财和基金；3-5年的二永主要成交在估值-5BP到+1BP之间，主要为银行和券商出给银行和券商。21浙商银行永续债（1.44Y+NY）今日成交多笔在1.80%，为基金出给基金；24广发银行永续债01（4Y+NY）今日成交多笔在1.95%（-0.33），为券商出给券商；24建行二级资本债03BC（4.53Y+5Y）今日成交多笔在1.895%（+0.29）到1.9%（+0.79）位置，为基金和券商出给券商和基金。商金方面，成交主要以1-3年为主，成交在估值-3BP到估值+1.5BP之间，卖盘主要为银行和基金，买盘主要为券商和银行。23交行债02（1.27Y）今日成交多笔在1.69%（-0.17）位置，为基金出给基金和银行。周五板块差异明显。投资级方面，交投较为清淡。城投板块，市场延续配置情绪，28年到期山东黄金在4.56%成交小量，27年到期荆州城投成交在5.26%。高收益方面，地产板块小幅走弱，路劲寻求实物付息消息值得曲线下跌3-5pt，万科下跌0.125-0.25pt，其余下跌0-0.125pt。今日短融成交剩余天数债券代码债券代码（发行机构）评级收益率（%）5D042480327.IB24电网CP005AAA1.736D042480331.IB24电网CP009AAA1.726D042480332.IB24电网CP008AAA1.726D042480331.IB24电网CP009AAA1.727D012484050.IB24浙资运营SCP001AAA1.737D012580969.IB25蒙牛SCP006AAA1.737D012581303.IB25伊利实业SCP007AAA1.77D012580969.IB25蒙牛SCP006AAA1.737D012580656.IB25苏国信SCP005AAA1.7214D012580208.IB25远东租赁SCP001AAA1.8914D012580208.IB25远东租赁SCP001AAA1.8914D012580208.IB25远东租赁SCP001AAA1.8914D042480340.IB24扬子国资CP002AAA1.7523D(休1)012580574.IB25淮安淮安SCP002AA1.8923D(休1)012580574.IB25淮安淮安SCP002AA1.8926D012580226.IB25金龙鱼SCP001AAA1.7726D012580226.IB25金龙鱼SCP001AAA1.7727D072510109.IB25中金公司CP003AAA1.6628D012580050.IB25海通恒信SCP001AAA1.8328D012581389.IB25华能江苏SCP003AAA1.7534D072510047.IB25东财证券CP003AAA1.6635D012483466.IB24华润置地SCP007AAA1.7835D012483466.IB24华润置地SCP007AAA1.7835D012581223.IB25电网SCP011AAA1.7241D012483506.IB24中航产融SCP008AA+2.942D012581399.IB25核风电SCP001AAA1.72