5月13日信用债异常成交跟踪

大幅折价个券成交跟踪简称剩余期限(年)估值价格偏离(%)估值净价（元）估值收益率偏离(bp)估值收益率(%)前一日估值收益率(%)隐含评级主体评级行业成交规模（元）24淄博城运MTN002B4.95-0.1699.803.512.942.91AA(2)AAA城投199324咸阳024.98-0.16100.143.503.573.53AA(2)AA+公用事业200024济运024.81-0.1498.803.234.284.25AA(2)AA+建筑装饰44623昆发020.51-0.13102.4819.062.452.26AA-AA城投70423利民041.12-0.11103.588.833.673.58AA-AA城投10923金霞022.45-0.11102.494.502.532.48AA(2)AA+城投410423利民020.82-0.10102.6810.223.603.50AA-AA城投642620利民债1.38-0.1082.527.553.573.49AA-AA城投743423江油012.32-0.09107.143.533.723.68AA-AA城投72821工投030.63-0.08102.559.583.513.42AA-AA城投204624正泰MTN001(科创票据)2.87-0.08100.273.063.103.07AAAA+电力设备200522美晨010.44-0.08101.3814.462.952.80AA-AA汽车474524鸿飞012.72-0.08102.882.823.813.78AA-AA城投101724厦国贸控MTN0071.96-0.07100.263.722.812.77AA+AAA交通运输280321青岛海创PPN0011.83-0.07101.493.743.093.06AA(2)AA+城投400523铜仁023.57-0.07104.491.975.565.54AA-AA城投260123景德城投MTN0030.34-0.07101.2512.942.482.35AA(2)AA城投202322远东三1.78-0.0697.544.123.443.40AAAAA非银金融195222江油011.07-0.06103.933.973.213.17AA-AA城投10223昆发010.10-0.05100.5220.952.252.04AA-AA城投50222珞璜建司PPN0011.21-0.04102.152.842.662.63AA(2)AA城投204222临空港MTN0010.93-0.04101.083.582.262.22AA(2)AA+城投1213821江油020.15-0.03100.635.613.052.99AA-AA城投5023景城D20.05-0.03100.229.262.372.27AA(2)AA城投15023咸金020.89-0.03103.890.492.972.97AAAA电子7360619泸投010.13-0.03100.601.242.532.52AA-AA城投100623古镇D20.08-0.03100.400.212.652.65AA(2)AA城投100421醴渌020.13-0.03100.561.232.532.52AA-AA+城投60321瀚投010.83-0.0377.800.203.063.05AA-AA城投161323长寿开投PPN0020.78-0.03103.360.312.542.54AA-AA+城投310119泰达020.08-0.03100.350.102.212.21AA-AAA城投53223城资010.82-0.03103.540.223.053.05AA-AA+城投30621华靖资产MTN0010.21-0.02100.682.992.102.07AA(2)AA+城投402823北辰010.86-0.02103.790.042.962.96AA-AA+城投309122宝投资0.17-0.02100.710.062.502.50AA-AA城投301121柳投020.86-0.02103.690.043.313.31AA-AA城投16621柳城020.87-0.02103.750.023.313.31AA-AA+城投45123景旅D40.13-0.02100.501.082.642.63AA-AA+城投300118陕投020.73-0.02102.750.402.212.21AA+AAA综合616921株循030.10-0.02100.381.372.412.40AA-AA城投3458资料来源：，国投证券研究中心大幅正偏离个券成交跟踪简称剩余期限(年)估值价格偏离(%)估值净价（）估值收益率偏离(bp)估值收益率(%)前一日估值收益率(%)隐含评级主体评级行业成交规模（万元）21万科042.026.1666.02-384.5627.9131.76AA+AAA房地产173021万科062.205.9762.14-344.2029.0332.47AA+AAA房地产202623万科MTN0032.095.6365.69-334.4726.4629.81AA+AAA房地产446423万科MTN0022.005.6066.06-350.3427.3330.83AA+AAA房地产150222万科MTN0051.635.1069.30-392.8529.2533.18AA+AAA房地产46221万科021.695.1069.29-379.0229.3933.18AA+AAA房地产370022万科MTN0041.595.0969.39-402.1929.7833.80AA+AAA房地产350020万科061.103.1379.16-348.1728.4531.93AA+AAA房地产226422万科031.073.1279.37-356.8827.8131.38AA+AAA房地产156222万科043.073.0359.55-122.5023.4624.68AA+AAA房地产66522万科063.153.0359.54-119.2523.1224.31AA+AAA房地产82822万科022.813.0359.56-134.8625.4626.81AA+AAA房地产755222万科071.472.2471.60-186.7929.9931.86AA+AAA房地产10822万科GN0011.192.2471.77-236.8536.1638.53AA+AAA房地产143520万科041.021.8880.03-221.9128.7931.01AA+AAA房地产236120万科081.501.4870.72-118.0931.2432.42AA+AAA房地产39622万科051.151.1675.99-115.9230.9432.10AA+AAA房地产512222龙湖022.670.9979.48-41.3613.5813.99AA-AAA房地产1411PR安方债1.680.9341.17-83.665.135.97AAA-城投77021龙湖062.250.8681.35-41.7313.9014.32AA-AAA房地产820万科020.840.8587.00-106.1621.4922.55AA+AAA房地产7021龙湖042.020.7983.46-42.2413.8614.28AA-AAA房地产97624三峡GN002(碳中和债)29.990.72100.20-3.542.732.77AAA+AAA公用事业1000021龙湖021.650.6887.13-44.2113.5513.99AA-AAA房地产36324诚通控股MTN010A19.900.67102.44-4.563.063.11AA+AAA综合1530824诚通控股MTN005B19.730.66102.58-4.573.063.11AA+AAA综合1021820龙湖拓展MTN001B1.170.5290.99-46.1013.2613.72AA-AAA房地产91024诚通控股MTN004B19.710.51104.77-3.573.063.10AA+AAA综合2509022龙湖041.140.5190.78-45.9113.2713.73AA-AAA房地产24724诚通控股MTN002B19.670.51105.93-3.573.063.10AA+AAA综合530624华能MTN00219.990.39100.08-2.562.732.76AAAAAA公用事业6795024苏交通MTN00519.990.3999.64-2.562.832.86AAAAAA交通运输15400020金地011.420.3878.79-25.6123.0723.33BB+AAA房地产820龙湖040.810.3693.88-42.6312.0212.45AA-AAA房地产89124农行二级资本债02B9.950.3398.68-3.752.642.68AAA-AAA银行5223021金地MTN0070.590.3282.52-34.5139.7940.14BB+AAA房地产515824中行二级资本债02B9.900.31100.58-3.662.642.68AAA-AAA银行401324华润MTN00314.990.31100.54-2.572.742.76AAAAAA综合12896424中交地产MTN0011.660.29101.05-18.523.093.27AAAA+房地产403324淮投014.920.29100.95-6.493.143.20AA(2)AA+城投4025资料来源：，国投证券研究中心表3：二永债成交跟踪二永债成交跟踪简称剩余期限(年)估值价格偏离(%)估值净价（元）估值收益率偏离(bp)估值收益率(%)前一日估值收益率(%)隐含评级主体评级银行分类成交规模（元）24农行二级资本债02B9.950.3398.68-3.752.642.68AAA-AAA国有行5223024中行二级资本债02B9.900.31100.58-3.662.642.68AAA-AAA国有行401324建行二级资本债01B9.730.28101.51-3.292.642.67AAA-AAA国有行304423中行二级资本债04B9.560.24106.08-2.942.642.67AAA-AAA国有行1272024邮储永续债014.850.22100.87-5.002.542.59AAA-AAA国有行13759424农行永续债014.840.22100.87-5.002.532.58AAA-AAA国有行11088023农行二级资本债03B9.470.22107.52-2.752.642.67AAA-AAA国有行3761723建行二级资本债02B9.450.22107.34-2.732.642.67AAA-AAA国有行214923邢台银行永续债014.540.22100.27-5.394.734.78A+AA城商行198124民生银行二级资本债014.960.2199.44-4.622.622.67AA+AAA股份行4465424浙商银行二级资本债014.930.2199.86-4.632.572.62AA+AAA股份行4886923海南银行永续债024.480.21100.33-5.344.714.76A+AA+城商行500624农行二级资本债02A4.950.2199.24-4.552.482.53AAA-AAA国有行14269324中行二级资本债02A4.900.21100.63-4.632.482.53AAA-AAA国有行15471224交行二级资本债01A4.960.2199.84-4.532.492.53AAA-AAA国有行9271624农行二级资本债01A4.730.21101.25-4.712.482.52AAA-AAA国有行13655924建行二级资本债01A4.730.21101.21-4.712.482.52AAA-AAA国有行3233724中行二级资本债01A4.720.21101.34-4.712.472.52AAA-AAA国有行32690123中行二级资本债02B9.360.20105.97-2.572.642.67AAA-AAA国有行3177923农行二级资本债02B9.340.20105.80-2.542.642.67AAA-AAA国有行1481723邮储永续债014.430.20103.72-4.942.522.57AAA-AAA国有行7364223海南银行永续债014.360.20100.45-5.144.684.73A+AA+城商行1800019工商银行二级024.870.20109.19-4.682.482.53AAA-AAA国有行6221019农业银行二级014.850.20109.25-4.692.482.53AAA-AAA国有行6765819农业银行二级034.910.19109.81-4.622.482.53AAA-AAA国有行4828423建行永续债024.370.19103.48-4.862.522.57AAA-AAA国有行3411219工商银行二级044.950.19110.16-4.542.482.53AAA-AAA国有行2090823中行二级资本债04A4.560.19103.53-4.572.472.52AAA-AAA国有行103523中信银行二级资本债01A4.600.19102.93-4.502.512.55AA+AAA股份行4627723交行二级资本债01A4.510.18103.50-4.512.472.51AAA-AAA国有行517423建行二级资本债03A4.510.18103.50-4.512.472.51AAA-AAA国有行11781723农行永续债014.290.18102.79-4.682.512.56AAA-AAA国有行6475224兴业银行永续债014.950.1899.22-3.942.562.60AA+AAA股份行13785224中信银行永续债014.950.1899.36-3.942.562.60AA+AAA股份行5459023浙商银行二级资本债024.540.18104.00-4.382.552.60AA+AAA股份行4365223农行二级资本债03A4.470.18104.10-4.432.472.51AAA-AAA国有行1977323建行二级资本债02A4.450.18104.09-4.412.472.51AAA-AAA国有行8304023中行二级资本债03A4.450.18104.01-4.402.472.51AAA-AAA国有行6024423杭州联合农商永续债014.510.17104.28-4.332.782.82AAAAA农商行312323招行永续债014.550.17103.70-4.232.542.58AA+AAA股份行22298资料来源：，国投证券研究中心商金债成交跟踪简称商金债成交跟踪简称剩余期限(年)估值价格偏离(%)估值净价（元）估值收益率偏离(bp)估值收益率(%)前一日估值收益率(%)隐含评级主体评级银行分类成交规模（万元）23徽商银行小微债012.530.17101.25-6.942.262.33AAA-AAA城商行202423华夏银行债052.540.17101.38-6.912.232.30AAA-AAA股份行3239123光大银行债032.490.17101.39-7.002.232.30AAA-AAA股份行1215823华夏银行债042.460.16101.37-7.032.232.30AAA-AAA股份行405424建行债01B4.800.16100.94-3.602.292.33AAAAAA国有行604524浦发银行债012.810.16100.27-5.852.252.31AAA-AAA股份行5209724浙商银行小微债012.850.15100.40-5.662.282.34AAA-AAA股份行3413524光大银行债012.850.15100.48-5.662.252.31AAA-AAA股份行12758124华夏银行债012.850.15100.48-5.662.252.31AAA-AAA股份行301424北京银行012.850.15100.40-5.642.282.34AAA-AAA城商行9730224建行债01A2.800.15100.32-5.712.232.29AAAAAA国有行4712324招商银行三农债2.870.15100.26-5.582.252.31AAA-AAA股份行501224浦发银行债022.870.15100.34-5.562.252.31AAA-AAA股份行17250524上海银行债012.910.15100.20-5.392.292.34AAA-AAA城商行7111624光大银行小微债2.950.1599.69-5.212.262.31AAA-AAA股份行1494924长沙银行债012.960.1599.88-5.182.322.37AA+AAA城商行3195623南京银行012.280.14100.73-6.592.242.31AAA-AAA城商行503523兴业银行小微债012.280.14100.71-6.572.212.28AAA-AAA股份行1609023中行债012.460.14101.37-6.092.212.27AAAAAA国有行506623交行债022.370.14101.13-6.032.202.26AAAAAA国有行606423华夏银行债032.220.13100.83-6.212.212.27AAA-AAA股份行201623上海银行债022.200.13100.81-6.092.242.30AAA-AAA城商行403124南洋银行032.820.12100.54-4.652.442.49AAAAA其他银行502423徽商银行2.160.12100.95-5.932.242.29AAA-AAA城商行1008323交行债012.190.12100.84-5.742.192.25AAAAAA国有行2620023江苏银行债012.060.11101.00-5.492.232.28AAA-AAA城商行1111123华夏银行债022.050.10101.00-5.422.202.25AAA-AAA股份行3229523珠海农商小微债2.610.10100.82-4.152.572.61AA-AA+农商行1511823中国银行绿色金融债012.010.10100.95-5.292.172.23AAAAAA国有行1412223交行绿债011.960.09101.14-5.122.172.22AAAAAA国有行5057资料来源：，国投证券研究中心表5：成交收益率高于10的个券表5：成交收益率高于10的个券高收益成交个券跟踪简称剩余期限(年)估值价格偏离(%)估值净价（元）估值收益率偏离(bp)估值收益率(%)前一日估值收益率(%)隐含评级主体评级行业成交规模（万元）21万科042.026.1666.02-384.5627.9131.76AA+AAA房地产173021万科062.205.9762.14-344.2029.0332.47AA+AAA房地产202623万科MTN0032.095.6365.69-334.4726.4629.81AA+AAA房地产446423万科MTN0022.005.6066.06-350.3427.3330.83AA+AAA房地产150222万科MTN0051.635.1069.30-392.8529.2533.18AA+AAA房地产46221万科021.695.1069.29-379.0229.3933.18AA+AAA房地产370022万科MTN0041.595.0969.39-402.1929.7833.80AA+AAA房地产350020万科061.103.1379.16-348.1728.4531.93AA+AAA房地产226422万科031.073.1279.37-356.8827.8131.38AA+AAA房地产156222万科043.073.0359.55-122.5023.4624.68AA+AAA房地产66522万科063.153.0359.54-119.2523.1224.31AA+AAA房地产82822万科022.813.0359.56-134.8625.4626.81AA+AAA房地产755222万科071.472.2471.60-186.7929.9931.86AA+AAA房地产10822万科GN0011.192.2471.77-236.8536.1638.53AA+AAA房地产143520万科041.021.8880.03-221.9128.7931.01AA+AAA房地产236120万科081.501.4870.72-118.0931.2432.42AA+AAA房地产39622万科051.151.1675.99-115.9230.9432.10AA+AAA房地产512222龙湖022.670.9979.48-41.3613.5813.99AA-AAA房地产141121龙湖062.250.8681.35-41.7313.9014.32AA-AAA房地产820万科020.840.8587.00-106.1621.4922.55AA+AAA房地产7021龙湖042.020.7983.46-42.2413.8614.28AA-AAA房地产97621龙湖021.650.6887.13-44.2113.5513.99AA-AAA房地产36320龙湖拓展MTN001B1.170.5290.99-46.1013.2613.72AA-AAA房地产91022龙湖041.140.5190.78-45.9113.2713.73AA-AAA房地产24720金地011.420.3878.79-25.6123.0723.33BB+AAA房地产820龙湖040.810.3693.88-42.6312.0212.45AA-AAA房地产89121金地MTN0070.590.3282.52-34.5139.7940.14BB+AAA房地产515821龙湖拓展MTN001(项目收益)0.570.2796.07-42.0910.7911.22AA-AAA房地产241320不动Y10.980.1590.35-11.9115.7515.87AA-AAA社会服务8421金地MTN0050.100.1497.98-26.9124.3324.60BB+AAA房地产601722万科MTN0010.710.1481.24-0.29