20180905-西证国际证券-固定收益日报_5页_343kb

报告摘要

本日报主要涵盖2018年9月5日当日的债市动态、近期新发债券信息以及国债/政府债券、投资级别债券、高收益债券的价格与收益率数据。内容聚焦于中资、港资及国际债券市场，旨在为专业投资者提供参考信息。

美国10年期美债收益率上升：截至9月4日尾盘，美国10年期美债收益率报2.90%，较8月31日上升6个基点，显示市场对通胀预期及经济前景有所升温。
阿根廷货币危机与美加贸易谈判：仍是国际市场的关注焦点，可能对全球资本流动产生影响。
中资企业债市表现：
- 投资级别发行人供应量增加，包括中广核、北京首创及中金公司，部分资金被锁定。
- BBB/BBB-评级债券价格微跌，利差扩阔1-3个基点。
- 中国恒大获得标普信用评级上调至B+，其债券微升0.1。
- 新城发展控股计划发行2年期美元债券，初步价格指引在7.25%上下。

Issuer	Coupon	Maturity	Price	Yield	Moody	S&P
AIA GROUP LTD	3.125	3/13/2023	97.64	3.70	N.A.	A
BANK OF CHINA/HONG KONG	3.875	6/30/2025	99.14	4.02	A1	N.A.
BANK OF EAST ASIA LTD	6.125	7/16/2020	104.21	3.76	Baa3	BBB
BOC AVIATION LTD	4.375	5/2/2023	101.35	4.05	N.A.	A-
STATE ELITE GLOBAL LTD	3.125	1/20/2020	99.45	3.54	A1	A
CHINA CITIC BANK INTL	6.875	6/24/2020	104.67	4.14	Baa3	N.A.
DAH SING BANK LTD	5.250	1/29/2024	100.42	4.15	Baa1	N.A.
FUBON BANK HONG KONG	6.125	11/30/2020	104.15	4.15	N.A.	BBB
HUA RONG FINANCE II	4.500	1/16/2020	100.56	4.07	Baa1	BBB+
HUA RONG FINANCE II	5.500	1/16/2025	109.69	4.94	Baa1	BBB+
CHARMING LIGHT INVST LTD	3.750	9/3/2019	99.98	3.77	Baa1	N.A.
CHARMING LIGHT INVST LTD	5.000	9/3/2024	102.59	4.50	Baa1	N.A.
CHINA CINDA FINANCE 2015	3.125	4/23/2020	98.78	3.91	Baa1	A-
CHINA CINDA FINANCE 2015	4.250	4/23/2025	97.79	4.64	Baa1	A-
HUA RONG FINANCE II	2.875	9/14/2021	93.42	5.26	Baa1	N.A.

Issuer	Coupon	Maturity	Price	Yield	Moody	S&P
CNOOC FINANCE 2011 LTD	4.250	1/26/2021	101.61	3.54	A1	A+
CNOOC FINANCE 2003 LTD	5.500	5/21/2033	112.41	4.35	A1	A+
KUNLUN ENERGY CO LTD	3.750	5/13/2025	98.33	4.04	A2	A
SINOPEC GRP OVERSEA 2015	2.500	4/28/2020	98.58	3.40	A1	A+
SINOPEC GRP OVERSEA 2015	3.250	4/28/2025	95.10	4.10	A1	A+
CHN CLEAN ENERGY DEVELOP	4.000	11/5/2025	97.31	4.44	Baa1	N.A.
ALIBABA GROUP HOLDING	3.125	11/28/2021	98.99	3.46	A1	A+
BAIDU INC	3.500	11/28/2022	98.61	3.86	A3	N.A.
BOOM UP INVESTMENTS LTD	3.800	8/2/2019	94.95	9.77	N.A.	N.A.
CALC BOND 2 LTD	4.900	8/22/2021	91.26	8.29	N.A.	N.A.
ZHONGRONG INT BOND 2016	6.950	6/21/2019	96.74	11.36	N.A.	BB-

Issuer	Coupon	Maturity	Price	Yield	Moody	S&P
CHINA OVERSEAS FIN KY V	3.950	11/15/2022	99.12	4.18	Baa1	BBB+
CHINA RESOURCES LAND LTD	6.000	2/27/2024	108.43	4.26	Baa1	BBB+
SINO OCEAN LD TRS FIN II	4.450	2/4/2020	99.94	4.49	Baa3	NR
SINO OCEAN LD TRS FIN II	5.950	2/4/2027	101.59	5.71	Baa3	NR
VANKE REAL ESTATE HK	3.950	12/23/2019	100.10	3.87	Baa2	BBB
COUNTRY GARDEN HLDGS	7.250	4/4/2021	100.94	6.84	Ba2	BB
COUNTRY GARDEN HLDGS	4.750	9/28/2023	90.22	7.08	Ba2	N.A.
GREENLAND HONG KONG	3.875	7/28/2019	96.96	7.46	Ba3	B+
GREENLAND GLB INVST	3.500	9/6/2019	96.93	6.73	Ba2	N.A.
GREENLAND GLB INVST	5.875	7/3/2024	86.11	8.99	Ba2	BB-
GREENTOWN CHINA HLDGS	5.875	8/11/2020	99.81	5.98	Ba3	B+
LONGFOR HOLDINGS LTD	3.900	4/16/2023	95.29	5.06	Baa3	N.A.
SHIMAO PROPERTY HLDGS	4.750	7/3/2022	96.24	5.86	N.A.	BB
SHIMAO PROPERTY HLDGS	8.375	2/10/2022	105.31	5.42	Ba3	BB
CENTRAL CHN REAL ESTATE	8.000	1/28/2020	100.64	7.50	B1	B+
CENTRAL CHN REAL ESTATE	8.750	1/23/2021	101.77	7.91	B1	B+
CENTRAL CHN REAL ESTATE	6.750	11/8/2021	95.86	8.26	B1	B+
RKI OVERSEAS FIN 2016 A	5.000	8/9/2019	100.09	4.89	B1	BB-
RKI OVERSEAS FIN 2016 B	4.700	9/6/2021	94.72	6.67	B1	BB-

Issuer	Coupon	Maturity	Price	Yield	Moody	S&P
LSD BONDS 2017 LTD	4.600	9/13/2022	95.75	5.80	N.A.	N.A.
ESTATE SKY LTD	4.875	8/8/2021	95.48	6.60	N.A.	N.A.
TREASURE GENERATOR LTD	4.750	10/14/2021	88.94	8.91	N.A.	N.A.

Issuer	Coupon	Maturity	Price	Yield	Moody	S&P
CAR INC	6.125	2/4/2020	97.70	7.88	Ba3	BB
CAR INC	6.000	2/11/2021	94.69	8.46	Ba3	BB
EHIC CAR SERVICES LTD	7.500	12/8/2018	100.28	6.27	N.A.	BB-
CHINA HONGQIAO GROUP LTD	6.850	4/22/2019	86.35	15.13	N.A.	N.A.
CHINALCO CAPITAL HOLDING	4.000	8/25/2021	96.87	5.15	N.A.	N.A.
NUOXI CAPITAL LTD	4.575	4/20/2020	96.06	7.19	N.A.	N.A.
FORTUNE STAR BVI LTD	5.250	3/23/2022	94.56	7.01	N.A.	N.A.
PRIME BLOOM HOLDINGS LTD	7.500	12/19/2019	91.25	15.23	B3	B-
HNA GROUP INTL CO LTD	8.125	12/3/2018	98.88	12.70	N.A.	N.A.
HNA GROUP INTL CO LTD	6.000	8/18/2019	93.41	13.64	N.A.	N.A.
HNA GROUP INTL CO LTD	6.250	10/5/2021	84.00	12.69	N.A.	N.A.
HAIKOU MEILAN AIRPORT	5.250	9/6/2019	95.59	10.01	N.A.	N.A.
HEALTH AND HAPPINESS H&H	7.250	6/21/2021	102.35	6.31	Ba3	BB
SHUI ON DEVELOPMENT HLDG	5.700	2/6/2021	100.00	5.70	N.A.	N.A.
SHUI ON DEVELOPMENT HLDG	4.375	10/5/2019	99.27	5.07	N.A.	N.A.
SUNAC CHINA HOLDINGS LTD	8.750	12/5/2019	101.93	7.09	B3	B
POWERLONG REAL ESTATE	5.950	7/19/2020	94.63	9.14	B2	B
POWERLONG REAL ESTATE	4.875	9/15/2021	87.49	9.75	B2	B
YUZHOU PROPERTIES CO LTD	6.000	10/25/2023	89.48	8.57	B1	N.A.
CHN AOYUAN PROPERTY GRP	6.350	1/11/2020	99.05	7.09	B2	B
CHN AOYUAN PROPERTY GRP	6.525	4/25/2019	100.50	5.70	B2	N.A.
CHINA SOUTH CITY HOLDING	6.750	9/13/2021	78.98	15.77	N.A.	CCC+
FANTASIA HOLDINGS GROUP	7.375	10/4/2021	81.91	14.92	B3	B
MODERN LAND CHINA CO LTD	6.875	10/20/2019	92.41	14.43	B3	N.A.

Issuer	Coupon	Maturity	Price	Yield	Moody	S&P
WANDA SPORTS FINANCE LTD	3.800	7/21/2019	96.72	7.75	N.A.	N.A.
WANDA PROPERTIES INTL	7.250	1/29/2024	96.72	8.01	Ba3	BBB+
AGILE GROUP HOLDINGS LTD	5.125	8/14/2022	92.98	7.20	Ba3	BB
AGILE GROUP HOLDINGS LTD	9.000	5/21/2020	104.76	5.19	Ba3	BB
CIFI HOLDINGS GROUP	7.750	6/5/2020	101.71	6.69	B1	B+
FUTURE LAND DEVELOPMENT	5.000	2/16/2020	98.74	5.92	N.A.	BB-
KWG GROUP HOLDINGS	5.200	9/21/2022	89.25	8.39	N.A.	N.A.
CHINA EVERGRANDE GROUP	7.500	6/28/2023	90.93	9.91	B2	B
CHINA EVERGRANDE GROUP	8.750	6/28/2025	89.61	10.95	B2	B
YUZHOU PROPERTIES CO LTD	6.000	10/25/2023	89.48	8.57	B1	N.A.
CHN AOYUAN PROPERTY GRP	6.350	1/11/2020	99.05	7.09	B2	B
CHN AOYUAN PROPERTY GRP	6.525	4/25/2019	100.50	5.70	B2	N.A.
CHINA SOUTH CITY HOLDING	6.750	9/13/2021	78.98	15.77	N.A.	CCC+
FANTASIA HOLDINGS GROUP	7.375	10/4/2021	81.91	14.92	B3	B
MODERN LAND CHINA CO LTD	6.875	10/20/2019	92.41	14.43	B3	N.A.