3月28日信用债异常成交跟踪

表1：折价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（万元）23济南城建MTN0039.46-0.32107.514.053.173.13AA+AAA城投17253PR渤海022.06-0.2945.4628.343.102.81AA-AAA城投278722津渤海MTN0010.81-0.23100.7728.772.882.60AA-AAA城投889121津渤海MTN0010.77-0.23101.9328.762.882.59AA-AAA城投611123百福投资MTN0011.50-0.19104.9512.723.052.92AA-AA城投419824华旅012.83-0.19104.017.143.973.90AA-AA城投10424云建投MTN0062.22-0.19100.238.813.443.35AA-AAA城投801824津投064.98-0.1899.814.023.593.55AAAAA城投500023曲文控MTN0021.75-0.17102.0010.113.683.58AA(2)AAA城投307324津城建MTN0093.41-0.1799.485.223.273.21AAAAA城投199319津投275.71-0.15106.803.043.753.72AAAAA城投107423饶资011.54-0.15102.989.722.902.81AA(2)AA+城投308923云能投MTN0051.69-0.15101.418.932.782.69AAAAA综合466823云能投MTN0041.66-0.15101.319.002.782.69AAAAA综合152222黄冈F33.48-0.14103.074.282.962.91AAAA+城投309624津城建MTN0102.92-0.1399.664.773.113.06AAAAA城投2394524津投032.92-0.1399.414.763.113.06AAAAA城投993624津城建MTN0052.81-0.13101.424.793.113.06AAAAA城投101423津城建MTN0162.73-0.13102.294.783.113.06AAAAA城投614520曲文控PPN0011.28-0.12103.499.403.643.55AA(2)AA+城投51823银创030.34-0.12101.3030.363.363.06AA-AA+城投1037824淮北建投MTN0064.98-0.11100.782.503.333.30AA(2)AA+城投1606324淮北建投MTN0054.96-0.1199.442.493.323.30AA(2)AA+城投500024商古034.93-0.11100.282.503.743.71AA(2)AA城投400024宏建014.91-0.11100.622.514.654.63AA(2)0建筑装饰603823津渤海SCP0190.34-0.10100.1829.572.822.53AA-AAA城投1002820青城Y11.09-0.10101.099.402.652.55AA+AAA城投806523柳控011.81-0.10105.925.433.843.79AA-AA+城投137319筑城010.61-0.10101.8514.552.952.81AA-AAA城投305420青岛城投MTN0021.01-0.10101.329.472.632.54AA+AAA城投607823柳控021.91-0.09106.024.833.873.82AA-AA+城投153124惠临011.83-0.09100.915.302.952.89AA-AA城投99720富阳经开债013.58-0.0983.474.392.742.70AAAA城投166823黄冈城投MTN0032.05-0.09101.834.512.752.70AAAA+城投509524国康K12.85-0.09100.053.343.633.59AAAAA非银金融30124上合控股PPN0011.77-0.09100.695.152.962.91AA(2)AAA非银金融403224中化股MTN0022.98-0.09100.123.052.712.68AA+AAA石油石化35015G23柳控12.19-0.09106.633.883.783.74AA-AA+城投170523中铁开投MTN0012.70-0.08101.023.092.872.84AAAAA建筑装饰909023青资012.70-0.08102.603.124.554.52AA-AAA基础化工500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（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）22万科051.281.2879.37-118.2123.6524.84AA+AAA房地产419521龙湖062.371.0471.74-51.6719.6820.20AA-AAA房地产190022龙湖022.800.9868.69-41.9419.4619.88AA-AAA房地产115720万科020.970.9683.83-116.5923.9225.09AA+AAA房地产247321龙湖042.150.9474.08-51.5619.8820.39AA-AAA房地产675021金地042.030.8769.69-51.5225.1525.66BB+AAA房地产51116龙湖041.930.8576.17-51.5320.5221.03AA-AAA房地产2621龙湖021.780.8079.40-51.8819.0519.57AA-AAA房地产113621万科042.140.7171.19-38.5021.9022.29AA+AAA房地产99020龙湖061.360.6586.72-52.9315.8316.36AA-AAA房地产86520万科061.230.6280.59-58.0323.8824.46AA+AAA房地产99322龙湖041.270.6188.00-52.9015.1115.64AA-AAA房地产71220龙湖拓展MTN001B1.300.6085.37-51.3118.0618.57AA-AAA房地产44122龙湖031.140.5590.14-52.5113.8914.41AA-AAA房地产17422金地MTN0010.910.4072.95-50.2745.4445.95BB+AAA房地产31321金地MTN0070.720.3575.49-49.2049.7650.25BB+AAA房地产33221龙湖拓展MTN001(项目收益)0.700.3594.40-50.2912.2612.76AA-AAA房地产262221金地MTN0060.620.3377.90-49.6749.8650.36BB+AAA房地产50723河源012.730.31101.68-11.963.343.46AA(2)AA房地产30523焦发062.710.30102.75-11.833.593.71AA(2)AA城投414023纳兴012.550.28105.10-12.145.205.32AA-AA城投297220醴陵债1.610.2682.56-20.173.333.53AA(2)AA城投81821东昱011.860.25103.21-14.703.683.83AA(2)0城投1040823威投V12.410.23102.79-10.314.174.27AA(2)AA建筑装饰710221醴高014.490.22104.81-10.054.564.66AA(2)AA城投51524长经012.940.2299.42-7.923.213.29AA(2)AA城投300024重庆交投MTN0019.990.20100.42-2.403.023.05AA+AAA城投200021兴蒲债4.250.20105.92-10.093.944.04AA(2)AA城投259224红谷滩MTN0014.970.20100.65-4.513.263.30AA(2)AA+城投402723威高012.250.20102.20-9.733.954.05AA(2)AA+建筑装饰203324建工K19.940.2099.43-2.383.023.04AA+AAA建筑装饰100024延安城投MTN0024.980.20100.85-4.503.964.00AA(2)AA+城投300023延经016.400.20105.92-5.334.934.98AA(2)AA城投52824首开MTN0032.990.20100.28-7.013.403.47AAAAA房地产498524济金012.940.1999.32-6.993.253.32AAAA+非银金融45921金地MTN0050.220.1992.60-49.0138.8439.33BB+AAA房地产226623兴工026.310.19106.15-5.304.864.91AA(2)AA建筑装饰409924济运012.810.19102.87-7.323.703.77AA(2)AA+建筑装饰201622GLP021.500.1992.10-12.7210.1010.23A+AAA交通运输2924能投012.850.19100.76-6.963.063.13AAAAA综合352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（万元）22农行永续债023.440.06101.67-2.002.652.67AAA-AAA国有行3556022建行永续债013.430.06101.76-2.002.652.67AAA-AAA国有行2095122杭州银行二级资本债013.510.06101.59-1.962.672.68AA+AAA城商行3655622光大银行二级资本债01A3.420.06101.51-1.952.632.65AA+AAA股份行3145522华夏银行二级资本债013.410.06101.51-1.942.632.65AA+AAA股份行10654822泉州银行二级资本债013.410.06103.01-1.873.003.02AA-AA+城商行2671722杭联农商行二级资本债023.330.06102.32-1.862.762.78AAAAA农商行409122上海银行二级资本债013.280.06102.81-1.892.652.67AA+AAA城商行2568223苏州银行永续债014.160.06103.91-1.522.952.97AAAAA城商行207722华融湘江二级资本债013.290.05103.07-1.872.902.92AAAAA城商行1030024恒丰银行二级资本债014.860.05100.15-1.202.972.98AAAAA股份行299717滨海农商二级013.150.05101.08-1.894.624.64A+AA+农商行400022成都银行二级资本债013.710.05103.87-1.622.782.80AAAAA城商行934322汉口银行二级013.240.05105.14-1.882.972.99AA-AA+城商行105123唐山银行永续债014.000.05105.59-1.543.383.40AA-AAA城商行4643422百信银行二级023.200.05103.95-1.883.363.38AA-AAA其他银行20823成都银行二级资本债014.410.05102.10-1.302.832.85AAAAA城商行2855122东莞农商行二级资本债013.750.05104.77-1.582.942.95AAAAA农商行2190722南京银行永续债013.570.05101.97-1.582.732.75AA+AAA城商行4478823厦门国际二级资本债014.290.05103.85-1.352.982.99AAAAA城商行1348022广州银行二级资本债013.750.05106.02-1.582.792.80AAAAA城商行2330723苏州银行二级014.720.05102.31-1.202.862.87AAAAA城商行1022223泰隆商行二级资本债券014.040.05105.22-1.453.013.02AAAAA城商行105123天津银行二级资本债014.040.05105.96-1.453.113.12AAAAA城商行529823广州农商行二级资本债014.010.05106.51-1.452.952.97AAAAA农商行851423光大二级资本债01A4.040.05103.34-1.372.672.68AA+AAA股份行206623泰隆商行二级资本债024.480.05105.19-1.273.043.05AAAAA城商行513722中国银行永续债023.080.05102.98-1.742.632.65AAA-AAA国有行1338023中行永续债014.220.05102.28-1.252.692.70AAA-AAA国有行920123宁波银行永续债014.280.05102.72-1.222.762.78AA+AAA城商行1949822民生银行永续债013.220.05103.73-1.642.962.98AA+AAA股份行20822中国银行永续债013.040.05102.95-1.682.632.64AAA-AAA国有行1336922杭州联合农商二级013.010.05103.55-1.702.722.74AAAAA农商行621023浙商银行二级资本债014.170.04102.71-1.212.772.78AA+AAA股份行7256923建行永续债014.310.04102.38-1.152.702.71AAA-AAA国有行1227323温州银行永续债024.230.04105.85-1.243.393.40AA-AA+城商行2100123中原银行永续债014.390.04105.95-1.183.123.14AAAAA城商行1905322泰隆银行二级012.980.04103.32-1.672.922.94AAAAA城商行206622成都农商二级012.970.04102.90-1.652.722.74AAAAA农商行174923大连银行永续债013.810.04105.67-1.363.293.30AA-AAA城商行2831资料来源：，国投证券研究中心商金债成交跟踪表4：商金债成交跟踪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）24招商银行三农债2.990.0699.76-2.032.432.45AAA-AAA股份行100024北京银行012.980.0699.91-2.032.462.48AAA-AAA城商行8787824浙商银行小微债012.980.0699.91-2.042.462.48AAA-AAA股份行1698224江苏银行绿色债012.960.0699.77-2.032.462.48AAA-AAA城商行199424光大银行债012.980.0699.99-2.042.432.45AAA-AAA股份行5099024华夏银行债012.980.0699.99-2.042.432.45AAA-AAA股份行4796724贵阳银行绿色债012.960.0699.60-2.022.542.56AA+AAA城商行995822江苏银行三农债01B3.500.06101.23-1.742.492.50AAA-AAA城商行1921924浦发银行债012.930.0699.77-2.022.432.45AAA-AAA股份行5384224建行债01A2.930.0699.86-2.002.402.42AAAAAA国有行299324平安银行小微债012.860.05100.09-1.942.432.45AAA-AAA股份行1400323杭州联合农商绿色债2.700.05100.88-1.912.482.49AA+AAA农商行806523工行绿债032.670.05100.79-1.902.392.41AAAAAA国有行503823长沙银行小微债2.650.05100.80-1.902.472.49AA+AAA城商行604923湖南银行绿色债012.590.05100.94-1.882.472.49AA+AAA城商行100923华夏银行062.730.05100.96-1.792.422.44AAA-AAA股份行1008923中行债012.580.05101.00-1.872.382.40AAAAAA国有行1615323交行债022.500.04100.76-1.842.382.40AAAAAA国有行10171323渣打银行012.490.04100.77-1.842.662.68AA+AAA其他银行3022923华夏银行债052.670.04100.97-1.732.422.43AAA-AAA股份行100923北京农商小微债2.460.04100.44-1.832.462.48AA+AAA农商行1707523重庆银行小微债012.460.04100.67-1.842.462.48AA+AAA城商行1710623徽商银行小微债012.650.04100.79-1.712.472.48AAA-AAA城商行1208923光大银行债032.620.04100.99-1.682.412.43AAA-AAA股份行3129123浙商银行小微债022.610.04100.93-1.672.442.46AAA-AAA股份行8374323华夏银行债042.580.04100.98-1.642.412.43AAA-AAA股份行1614823长沙银行债012.330.04100.39-1.782.452.47AA+AAA城商行200723齐鲁银行小微债012.330.04100.43-1.772.452.47AA+AAA城商行7827423渤海银行022.330.04100.48-1.782.502.52AA+AAA股份行200923厦门银行小微债012.330.04100.77-1.782.452.47AA+AAA城商行60425资料来源：，国投证券研究中心高收益成交个券跟踪简称剩余期限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）22万科051.281.2879.37-118.2123.6524.84AA+AAA房地产419521龙湖062.371.0471.74-51.6719.6820.20AA-AAA房地产190022龙湖022.800.9868.69-41.9419.4619.88AA-AAA房地产115720万科020.970.9683.83-116.5923.9225.09AA+AAA房地产247321龙湖042.150.9474.08-51.5619.8820.39AA-AAA房地产675021金地042.030.8769.69-51.5225.1525.66BB+AAA房地产51116龙湖041.930.8576.17-51.5320.5221.03AA-AAA房地产2621龙湖021.780.8079.40-51.8819.0519.57AA-AAA房地产113621万科042.140.7171.19-38.5021.9022.29AA+AAA房地产99020龙湖061.360.6586.72-52.9315.8316.36AA-AAA房地产86520万科061.230.6280.59-58.0323.8824.46AA+AAA房地产99322龙湖041.270.6188.00-52.9015.1115.64AA-AAA房地产71220龙湖拓展MTN001B1.300.6085.37-51.3118.0618.57AA-房地产44122龙湖031.140.5590.14-52.5113.8914.41AA-AAA房地产17422金地MTN0010.910.4072.95-50.2745.4445.95BB+AAA房地产31321金地MTN0070.720.3575.49-49.2049.7650.25BB+AAA房地产33221龙湖拓展MTN001(项目收益)0.700.3594.40-50.2912.2612.76AA-AAA房地产262221金地MTN0060.620.3377.90-49.6749.8650.36BB+AAA房地产50721金地MTN0050.220.1992.60-49.0138.8439.33BB+AAA房地产226622GLP021.500.1992.10-12.7210.1010.23A+AAA交通运输2921金地MTN0040.160.1794.76-49.6036.4736.97BB+AAA房地产401021万科021.820.1374.68-6.3222.3422.40AA+AAA房地产99423大连万达MTN0010.980.0486.37-1.3823.7623.77BB+AAA房地产344820遵经021.260.0497.08-2.