20180606-西证国际证券-固定收益日报_5页_322kb

报告摘要

固定收益日报总结 - 2018年6月6日

核心内容概览

本日报主要涵盖全球及亚洲地区固定收益市场动态，包括债市重点新闻、近期新发债券、国债/政府债券价格、到期收益率曲线、投资级债券价格、高收益债券价格以及免责声明等内容。文档提供了各类债券的票面利率、到期日、价格和收益率等关键信息，并强调了所有价格仅供参考，实际交易需联系指定机构。

债市重点新闻

美国10年期国债收益率：在6月5日尾盘下跌至2.91%，较6月4日的2.94%有所回落，反映出市场对贸易战影响的担忧。
贸易战影响：加拿大与墨西哥均披露了对美国关税的报复措施，市场忧虑加剧，限制了因美国经济强劲而带来的乐观情绪。
海航集团：计划在11月和12月发行美元债券，其中11月到期的3亿美元票据票息为8.875%，最新参考价为97.6，参考收益率为14.96%。12月到期的两笔合计5亿美元票据也计划发行。

近期新发债券

富力地產：增发一项3年期优先无抵押票据，定价收益率为8.08%，增发规模为2亿美元，获惠誉BB-评级。

国债/政府债券价格（参考价格）

中国国债（AA-评级）

Security	Yield
3 year	3.350
5 year	3.450
10 year	3.660
30 year	3.950

美国国债（AAA评级）

Security	Price	Yield
3 year	99.00	2.625
5 year	99.88	2.775
10 year	99.48	2.935
30 year	100.75	3.086

香港政府债（AAA评级）

Security	Price	Yield
3 year	101.24	2.066
5 year	95.00	2.261
10 year	91.90	2.256
15 year	94.30	2.394

到期收益率曲线

中国国债：收益率曲线图显示AA-评级债券的收益率走势。
美国国债：AAA评级债券的收益率曲线图显示市场趋势。
香港政府债：AAA评级债券的收益率曲线图显示市场预期。

投资级债券价格（参考价格）

非地产类（中资）

Issuer	Coupon	Maturity	Price	Yield	Moody	S&P
AIA GROUP LTD	3.125	3/13/2023	97.72	3.65	N.A.	A
BANK OF CHINA/HONG KONG	3.875	6/30/2025	99.16	4.01	A1	N.A.
BANK OF EAST ASIA LTD	6.125	7/16/2020	104.83	3.71	Baa3	BBB
BOC AVIATION LTD	4.375	5/2/2023	101.08	4.13	N.A.	A-
STATE ELITE GLOBAL LTD	3.125	1/20/2020	99.41	3.50	A1	A
CHINA CITIC BANK INTL	6.875	6/24/2020	105.46	4.06	Baa3	N.A.
CNOOC FINANCE 2003 LTD	5.500	5/21/2033	112.39	4.36	A1	A+

地产类（中资）

Issuer	Coupon	Maturity	Price	Yield	Moody	S&P
CHINA OVERSEAS FIN KY V	3.950	11/15/2022	99.11	4.17	Baa1	BBB+
CHINA RESOURCES LAND LTD	6.000	2/27/2024	108.59	4.29	Baa1	BBB+
SINO OCEAN LD TRS FIN II	4.450	2/4/2020	100.26	4.28	Baa3	NR
SINO OCEAN LD TRS FIN II	5.950	2/4/2027	104.26	5.33	Baa3	NR
VANKE REAL ESTATE HK	3.950	12/23/2019	100.38	3.70	Baa2	BBB

香港地产类

Issuer	Coupon	Maturity	Price	Yield	Moody	S&P
WANDA SPORTS FINANCE LTD	3.800	7/21/2019	99.64	5.69	N.A.	N.A.
WANDA PROPERTIES INTL	7.250	1/29/2024	98.86	7.50	Ba3	B+
COUNTRY GARDEN HLDGS	7.250	4/4/2021	102.29	6.35	Ba2	BB
COUNTRY GARDEN HLDGS	4.750	9/28/2023	94.08	6.07	Ba2	N.A.
GREENLAND HONG KONG	3.875	7/28/2019	97.00	6.65	Ba3	B+
GREENLAND GLB INVST	3.500	9/6/2019	97.16	5.90	Ba2	N.A.
GREENLAND GLB INVST	5.875	7/3/2024	90.65	7.84	Ba2	BB-
GREENTOWN CHINA HLDGS	5.875	8/11/2020	100.95	5.40	Ba3	B+
LONGFOR PROPERTIES	3.900	4/16/2023	96.13	4.80	Baa3	N.A.
SHIMAO PROPERTY HLDGS	4.750	7/3/2022	95.77	5.94	N.A.	BB
SHIMAO PROPERTY HLDGS	8.375	2/10/2022	106.07	5.25	Ba3	BB
SUNAC CHINA HOLDINGS LTD	8.750	12/5/2019	102.45	6.99	B3	B
POWERLONG REAL ESTATE	5.950	7/19/2020	96.90	7.56	B2	B
POWERLONG REAL ESTATE	4.875	9/15/2021	89.57	8.60	B2	B
YUZHOU PROPERTIES CO LTD	6.000	10/25/2023	90.22	8.29	B1	N.A.
CHN AOYUAN PROPERTY GRP	6.350	1/11/2020	99.08	6.96	B2	B
CHN AOYUAN PROPERTY GRP	6.525	4/25/2019	100.57	5.84	B2	N.A.
CHINA SOUTH CITY HOLDING	6.750	9/13/2021	81.73	13.89	N.A.	B-
FANTASIA HOLDINGS GROUP	7.375	10/4/2021	90.73	10.76	B3	B
MODERN LAND CHINA CO LTD	6.875	10/20/2019	97.85	8.56	B3	N.A.
LSD BONDS 2017 LTD	4.600	9/13/2022	95.88	5.70	N.A.	N.A.
ESTATE SKY LTD	4.875	8/8/2021	95.19	6.58	N.A.	N.A.
TREASURE GENERATOR LTD	4.750	10/14/2021	90.50	8.04	N.A.	N.A.

高收益债券价格（参考价格）

非地产类

Issuer	Coupon	Maturity	Price	Yield	Moody	S&P
CAR INC	6.125	2/4/2020	98.74	6.94	Ba3	BB
CAR INC	6.000	2/11/2021	97.38	7.09	Ba3	BB
EHI CAR SERVICES LTD	7.500	12/8/2018	100.31	6.85	N.A.	BB *-
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	100.43	6.32	N.A.	N.A.
CHINA H