4月3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）24陕煤化MTN0029.91-0.3699.074.363.413.37AA+AAA煤炭992524山西建投MTN003A2.98-0.2799.769.763.693.59AA(2)AAA建筑装饰2099124延安024.91-0.2099.564.443.603.55AA(2)AA+城投79224合川投资PPN0024.96-0.20100.594.464.064.01AA(2)AA城投735124邵新012.82-0.19101.277.193.523.44AA-AA城投202424长寿投资MTN0022.98-0.19100.186.703.443.37AA-AA+城投600024乌城投MTN0034.92-0.1599.973.392.882.84AA+AAA城投799522静安011.58-0.14100.359.252.612.52AA+AAA城投200722自贡城投MTN0011.49-0.14105.049.022.972.88AA-AA城投314924象屿MTN002B2.98-0.11100.013.983.503.46AAAAA交通运输899522自城011.09-0.10103.639.103.052.95AA-AA城投932523城控032.56-0.10103.754.183.093.05AAAA+城投414824开经012.78-0.10100.473.963.813.77AA(2)AA+城投363122乌城投债013.09-0.08102.542.712.782.75AA+AAA城投2055524北部湾MTN0012.78-0.08100.963.032.832.80AAAAA商贸零售403824潍坊城建MTN003A2.96-0.08100.012.793.313.28AA(2)AAA城投300022东泰021.57-0.07102.024.192.662.62AA(2)AA+城投306024蓝创014.96-0.0799.091.524.864.84AA-AA城投1322724吉控024.80-0.06103.491.403.303.29AA(2)AA+城投829823蓝创011.15-0.06103.964.203.623.57AA-AA城投20423绵控031.21-0.05102.694.052.692.65AA(2)AA+城投205322青岛城阳PPN0011.25-0.05100.964.112.782.74AAAA+城投101024象屿MTN002A1.98-0.05100.102.543.143.11AAAAA交通运输400022粤珠江MTN0041.28-0.04100.693.312.932.90AAAAA城投2014PR安发011.44-0.0441.453.464.694.65AA-AA城投20722远东租赁MTN0091.60-0.04100.932.603.373.35AAAAA非银金融202023漯河020.40-0.04101.496.592.792.73AA-AA城投406022新中泰MTN001(乡村振兴)1.06-0.03101.593.023.453.42AAAA+基础化工26422远东租赁MTN0101.66-0.03101.901.953.433.41AAAAA非银金融509622山西建投MTN005(科创票据)0.35-0.03100.687.762.722.65AA(2)AAA建筑装饰1057224淮北建投MTN0064.97-0.02100.540.423.383.38AA(2)AA+城投402124淮北建投MTN0054.95-0.0299.210.393.383.37AA(2)AA+城投99824温州国投SCP0020.71-0.0199.991.872.442.42AAAA食品饮料699924横店CP0010.70-0.01100.031.792.492.47AAAA+综合1800322远东五0.93-0.01101.020.722.862.85AAAAA非银金融202022新中泰MTN0020.43-0.01100.530.893.153.14AAAA+基础化工402423远东二0.93-0.01100.130.502.852.84AAAAA非银金融6306121华侨城MTN003A0.300.00100.181.052.522.51AAA-AAA社会服务200323远东租赁CP0030.160.00100.260.232.512.51AAAAA非银金融150424大众交通SCP0010.270.00100.020.302.352.35AA+AAA交通运输12001资料来源：，国投证券研究中心表2：净价上涨个券成交跟踪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）20旭辉021.154.3524.00-1192.99256.65268.58CCAAA房地产147922龙湖022.781.4172.12-59.9917.3917.99AA-AAA房地产34621龙湖062.361.3575.32-66.7217.2817.95AA-AAA房地产21321龙湖042.131.3177.57-71.4317.3818.10AA-AAA房地产83916龙湖041.921.2779.55-77.6417.9018.68AA-AAA房地产1821龙湖021.761.2282.99-79.3116.2017.00AA-AAA房地产65621金地MTN0050.201.0794.24-496.3032.6937.66BB+AAA房地产121221金地MTN0040.151.0596.40-659.1128.2634.85BB+AAA房地产19321万科030.130.4499.73-325.115.348.59AA+AAA房地产50920金地011.520.4472.60-32.4628.3728.69BB+AAA房地产3321瑞丽债4.440.38105.15-17.635.235.40AA-AA城投296324陕西金控MTN001B4.950.36100.26-7.902.983.06AAAAA非银金融399224浙金012.980.3299.69-11.222.943.05AA(2)AA城投2000024云能投MTN0072.980.30100.70-11.024.104.21AA-AAA综合2816724诚通控股MTN009A14.960.29100.16-2.503.203.22AA+AAA综合1000024诚通控股MTN007B14.920.2999.35-2.493.193.22AA+AAA综合2289422金地MTN0010.890.2973.82-33.1744.2944.62BB+AAA房地产165218宜昌绿色债NPB4.700.29110.20-7.043.553.62AAAA+城投766121金地042.010.2870.68-14.7224.4424.59BB+AAA房地产62424福建能化MTN0014.990.2899.93-6.012.852.91AA+AAA基础化工1000021通达投资债014.490.27105.52-12.234.074.19AA(2)AA城投315721金地MTN0070.700.2776.38-33.7748.5548.88BB+AAA房地产32823延经016.390.26106.89-7.014.684.75AA(2)AA城投3093PR新平011.810.2640.80-21.406.026.24AA-AA-城投1124蓉江024.950.2599.98-5.543.403.46AA(2)AA城投200024云建投MTN0062.210.25100.15-11.903.483.60AA-AAA城投1800723兴工016.090.25104.00-7.014.834.90AA(2)AA建筑装饰50924三门峡PPN0014.980.25100.90-5.533.763.81AA(2)AA+城投1200020滨旅021.620.23102.41-15.605.375.53AA-AA城投451819瑞丽债2.460.2362.75-16.964.634.80AA-AA城投3223商铁021.140.23102.87-20.973.383.59AA(2)AA城投205124诚通控股MTN003B19.800.22103.19-1.563.223.23AA+AAA综合620924诚通控股MTN004B19.820.22102.47-1.563.223.23AA+AAA综合413616滨旅债1.460.22100.96-15.994.965.12AA-AA城投5123威高012.230.22103.15-10.563.503.61AA(2)AA+建筑装饰199824南充发展PPN0013.980.21100.62-5.893.553.61AA(2)AA+城投400021万交012.200.21105.62-10.784.264.37AA-AA城投208821万科050.310.2198.75-64.187.147.78AA+AAA房地产54322GLP010.930.2196.56-22.948.278.50A+AAA交通运输17624漳龙Y12.970.20100.01-7.222.923.00AA+AAA城投3000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）23烟台银行永续债014.630.1999.43-4.554.934.98A+AA城商行992524邮储永续债014.960.18100.27-3.952.672.71AAA-AAA国有行6695224农行永续债014.950.18100.27-3.952.672.71AAA-AAA国有行11609223招行永续债014.660.17103.18-3.962.672.71AA+AAA股份行1441623汉口银行二级资本债024.670.16105.04-3.963.223.26AA-AA+城商行1048523徽商银行永续债014.570.16103.93-3.962.872.91AA+AAA城商行726023遂昌农商行二级资本债014.660.1697.90-4.015.825.86AA+农商行390523中信银行二级资本债01A4.710.16102.43-3.752.632.67AA+AAA股份行2045323浙商银行二级资本债024.650.16103.31-3.782.732.77AA+AAA股份行1031623宁波银行永续债014.270.15102.98-3.962.702.74AA+AAA城商行20623邮储永续债014.540.15103.25-3.702.652.69AAA-AAA国有行1547323工行二级资本债02A4.410.15102.02-3.752.582.61AAA-AAA国有行3260923农行永续债014.400.15102.33-3.762.642.68AAA-AAA国有行919523建行永续债024.480.15103.01-3.712.652.68AAA-AAA国有行617323浙商银行二级资本债014.150.15102.98-3.982.702.74AA+AAA股份行5038323建行永续债014.290.15102.63-3.822.632.67AAA-AAA国有行1229723成都农商行永续债014.360.15103.90-3.782.932.97AAAAA农商行207423厦门银行永续债014.280.15104.06-3.862.922.96AAAAA城商行72723工行二级资本债01A4.020.15103.51-4.042.562.60AAA-AAA国有行155023农行二级资本债02A4.450.15102.78-3.652.582.61AAA-AAA国有行1539523中行永续债014.200.15102.53-3.842.632.66AAA-AAA国有行614323苏州银行永续债014.140.15104.09-3.942.912.95AAAAA城商行1767323中行二级资本债02A4.470.15102.79-3.602.582.62AAA-AAA国有行1231923光大二级资本债01A4.020.15103.62-4.002.592.63AA+AAA股份行413923中原银行永续债014.370.15106.10-3.783.083.12AAAAA城商行3631123建行二级资本债01A3.980.14103.49-3.962.562.60AAA-AAA国有行87823重庆银行永续债014.550.14106.05-3.583.053.09AAAAA城商行819023农行二级资本债01A3.970.14103.48-3.932.562.60AAA-AAA国有行619923中行二级资本债01A3.970.14103.47-3.932.562.60AAA-AAA国有行413224桂林银行永续债014.980.1498.78-3.103.473.50AA-AAA城商行1800023中行二级资本债03A4.550.14103.59-3.342.582.62AAA-AAA国有行7552923建行二级资本债02A4.560.14103.68-3.322.582.62AAA-AAA国有行5799122杭州银行二级资本债013.490.14101.88-4.212.582.62AA+AAA城商行813623农行二级资本债03A4.580.14103.69-3.282.582.62AAA-AAA国有行3832922农行永续债023.420.14101.93-4.242.572.61AAA-AAA国有行1630222光大银行二级资本债01A3.400.14101.80-4.252.542.58AA+AAA股份行1930422华夏银行二级资本债013.390.13101.79-4.262.542.58AA+AAA股份行4880722建行永续债013.410.13102.02-4.242.572.61AAA-AAA国有行1426422宁波银行二级资本债013.340.13102.13-4.282.562.61AA+AAA城商行305623建行二级资本债03A4.620.13103.07-3.152.592.62AAA-AAA国有行37531资料来源：，国投证券研究中心表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2.980.0999.87-3.132.392.43AAA-AAA股份行199624浦发银行债022.980.0999.96-3.122.402.43AAA-AAA股份行1996924北京银行012.960.09100.02-3.142.422.45AAA-AAA城商行1199624华夏银行债012.960.09100.10-3.132.392.42AAA-AAA股份行22905524光大银行债012.960.09100.10-3.132.392.42AAA-AAA股份行2400324浙商银行小微债012.960.09100.02-3.132.422.45AAA-AAA股份行9298524浦发银行债012.920.0999.89-3.152.392.42AAA-AAA股份行199624平安银行小微债012.850.09100.21-3.212.382.42AAA-AAA股份行8105524平安银行三农债012.850.09100.21-3.212.382.42AAA-AAA股份行7307023徽商银行小微债012.640.09100.91-3.432.422.45AAA-AAA城商行1512723华夏银行062.710.09101.08-3.352.372.40AAA-AAA股份行1312723华夏银行债052.650.09101.09-3.422.372.40AAA-AAA股份行1009823浙商银行小微债022.600.09101.06-3.472.392.43AAA-AAA股份行1413623光大银行债032.600.09101.11-3.472.362.40AAA-AAA股份行1010323光大银行债022.480.08100.87-3.612.352.39AAA-AAA股份行5441823杭州银行022.400.08100.42-3.672.372.41AAA-AAA城商行2910623上海农商012.400.08100.44-3.672.372.41AAA-AAA农商行1003823兴业银行小微债012.390.08100.44-3.682.342.38AAA-AAA股份行702523南京银行012.390.08100.47-3.672.372.41AAA-AAA城商行8233823工商银行绿色金融债022.640.08100.89-3.342.352.38AAAAAA国有行201623华夏银行债032.330.08100.58-3.722.342.38AAA-AAA股份行3417023北京银行022.320.08100.56-3.722.372.40AAA-AAA城商行4019923江苏银行债022.310.08100.56-3.722.372.40AAA-AAA城商行3416623浙商银行债012.310.08100.56-3.722.372.40AAA-AAA股份行3417423上海银行小微债012.290.08100.58-3.732.362.40AAA-AAA城商行402123交行债022.480.08100.87-3.462.332.37AAAAAA国有行1813923徽商银行2.270.08100.66-3.732.382.42AAA-AAA城商行905523青岛农商小微债012.320.08100.56-3.612.402.43AA+AAA农商行602923长沙银行债012.310.08100.51-3.612.402.43AA+AAA城商行401823渤海银行022.310.08100.60-3.622.452.48AA+AAA股份行4023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）20旭辉021.154.3524.00-1192.99256.65268.58CCAAA房地产147922龙湖022.781.4172.12-59.9917.3917.99AA-AAA房地产34621龙湖062.361.3575.32-66.7217.2817.95AA-AAA房地产21321龙湖042.131.3177.57-71.4317.3818.10AA-AAA房地产83916龙湖041.921.2779.55-77.6417.9018.68AA-AAA房地产1821龙湖021.761.2282.99-79.3116.2017.00AA-AAA房地产65621金地MTN0050.201.0794.24-496.3032.6937.66BB+AAA房地产121221金地MTN0040.151.0596.40-659.1128.2634.85BB+AAA房地产19320金地011.520.4472.60-32.4628.3728.69BB+AAA房地产3322金地MTN0010.890.2973.82-33.1744.2944.62BB+AAA房地产165221金地042.010.2870.68-14.7224.4424.59BB+AAA房地产62421金地MTN0070.700.2776.38-33.7748.5548.88BB+AAA房地产32820不动Y11.090.0688.66-3.2116.5716.60AA-AAA社会服务9322龙湖010.780.0594.33-3.8111.2911.32AA-AAA房地产37720龙湖020.790.0594.32-3.7811.9511.99AA-AAA房地产1862PR黔南1.750.0538.94-3.6210.3210.36BBB+AA城投820龙湖061.340.0589.14-1.9013.6213.64AA-AAA房地产1820龙湖040.920.0493.49-3.0011.6211.65AA-AAA房地产37422龙湖041.250.0490.36-1.7912.8612.88AA-AAA房地产6422龙湖031.130.0491.86-1.9012.1412.16AA-AAA房地产19114天瑞020.230.0299.27-5.3011.0811.13A-AA建筑材料2021旭辉020.300.0024.00803.18951.88943.85CCAAA房地产192020中骏020.240.0044.28509.38483.19478.09CCAA+房地产20622旭辉010.230.0024.001282.651175.981163.16CCAAA房地产522万科010.92-0.2286.6332.9320.3720.04AA+AAA房地产55422万科MTN0010.82-0.3488.3052.7919.4418.91AA+AAA房地产16622万科MTN0020.87-0.3488.0249.5718.8518.36AA+AAA房地产162820万科020.95-0.7585.2699.1122.0921.10AA+AAA房地产39220万科041.13-0.8079.5095.9326.8225.86AA+AAA房地产184422万科063.26-1.5165.4359.0618.7818.19AA+AAA房地产2020万科081.61-1.9073.73153.8825.9524.41AA+AAA房地产101820万科06