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地方债个券与曲线估值差异(单位:%)
地方债个券与曲线估值差异(单位:%)
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所属报告:
【民生证券】流动性跟踪与地方债策略专题:11月资金面需要担忧吗-251104(24页).pdf
打包全文图表
相关数据
图42、2015年1-4月转债个券表现
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行业数据
2025-12-12
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图43、2015年5-6月转债个券表现
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行业数据
2025-12-12
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转债个券周度涨跌幅分布(纵轴单位:只;横轴单位:%)
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行业数据
2025-12-01
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转债个券周度涨跌幅分布(纵轴单位:只;横轴单位:%)
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行业数据
2025-11-17
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地方债个券与曲线估值差异(单位:%)
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行业数据
2025-10-22
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转债个券周度涨跌幅分布(纵轴单位:只;横轴单位:%)
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行业数据
2025-10-20
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地方债个券与曲线估值差异(单位:%)
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行业数据
2025-10-15
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地方债个券与曲线估值差异(单位:%)
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行业数据
2025-10-10
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地方债个券与曲线估值差异(单位:%)
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行业数据
2025-09-24
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建议关注的业绩改善转债个券(数据截至2025.08.29)
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行业数据
2025-09-22
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业绩优秀板块建议关注的转债个券(数据截至2025.08.29)
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行业数据
2025-09-22
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地方债个券与曲线估值差异(单位:%)
<|begin_of_box|>| 地区   | 2025/8/22 | 3Y-一般老券 | 3Y-一般新券 | 3Y-专项老券 | 3Y-专项新券 | 5Y-一般老券 | 5Y-一般新券 | 5Y-专项老券 | 5Y-专项新券 | 7Y-一般老券 | 7Y-一般新券 | 7Y-专项老券 | 7Y-专项新券 | 10Y-一般老券 | 10Y-一般新券 | 10Y-专项老券 | 10Y-专项新券 | 15Y-一般老券 | 15Y-一般新券 | 15Y-专项老券 | 15Y-专项新券 | 20Y-一般老券 | 20Y-一般新券 | 20Y-专项老券 | 20Y-专项新券 | 30Y-一般老券 | 30Y-一般新券 | 30Y-专项老券 | 30Y-专项新券 |
|--------|-----------|-------------|-------------|-------------|-------------|-------------|-------------|-------------|-------------|-------------|-------------|-------------|-------------|---------------|---------------|---------------|---------------|---------------|---------------|---------------|---------------|---------------|---------------|---------------|---------------|---------------|---------------|---------------|
| 安徽   |           | 1.63        | 1.65        | 1.61        | 1.74        | 1.74        | 1.76        | 1.76        | 1.77        | 1.86        | 1.91        | 1.88        | 1.87        | 1.91          | 1.94          | 1.93          | 2.18          | 2.18          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          |
| 北京   |           | 1.58        | 1.62        | 1.61        | 1.72        | 1.74        | 1.76        | 1.76        | 1.85        | 1.86        | 1.91        | 1.86        | 1.91        | 1.98          | 1.94          | 2.17          | 2.18          | 2.18          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          |
| 大连   |           | 1.63        | 1.66        | 1.74        | 1.74        | 1.77        | 1.76        | 1.84        | 1.91        | 1.86        | 1.91        | 1.91        | 1.94        | 2.18          | 2.18          | 2.33          | 2.23          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          |
| 福建   |           | 1.61        | 1.66        | 1.74        | 1.74        | 1.77        | 1.76        | 1.85        | 1.91        | 1.86        | 1.91        | 1.91        | 1.94        | 2.18          | 2.18          | 2.33          | 2.23          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          |
| 甘肃   |           | 1.63        | 1.67        | 1.78        | 1.80        | 1.85        | 1.87        | 1.89        | 1.97        | 1.89        | 1.97        | 1.96        | 1.99        | 2.28          | 2.19          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          |
| 广东   |           | 1.58        | 1.61        | 1.72        | 1.75        | 1.76        | 1.85        | 1.87        | 1.91        | 1.91        | 1.91        | 1.98        | 1.93        | 2.18          | 2.18          | 2.33          | 2.23          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          |
| 广西   |           | 1.64        | 1.65        | 1.78        | 1.80        | 1.87        | 1.89        | 1.90        | 1.97        | 1.90        | 1.97        | 1.96        | 1.99        | 2.27          | 2.21          | 2.33          | 2.23          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          |
| 贵州   |           | 1.62        | 1.65        | 1.74        | 1.76        | 1.89        | 1.85        | 1.86        | 1.91        | 1.86        | 1.91        | 1.98        | 1.94        | 2.17          | 2.18          | 2.33          | 2.23          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          |
| 海南   |           | 1.62        | 1.65        | 1.73        | 1.77        | 1.83        | 1.86        | 1.88        | 1.91        | 1.86        | 1.91        | 1.97        | 1.94        | 2.18          | 2.31          | 2.21          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          |
| 河北   |           | 1.62        | 1.65        | 1.73        | 1.77        | 1.89        | 1.86        | 1.91        | 1.88        | 1.86        | 1.91        | 1.97        | 1.94        | 2.18          | 2.16          | 2.33          | 2.23          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          |
| 河南   |           | 1.64        | 1.68        | 1.78        | 1.80        | 1.87        | 1.89        | 1.89        | 1.96        | 1.89        | 1.96        | 1.99        | 2.19        | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          |
| 黑龙江 |           | 1.63        | 1.66        | 1.73        | 1.77        | 1.76        | 1.85        | 1.87        | 1.91        | 1.87        | 1.91        | 1.91        | 1.98        | 1.94          | 2.16          | 2.19          | 2.21          | 2.23          | 2.33          | 2.24          | 2.33          | 2.24          | 2.33          | 2.24          | 2.33          | 2.24          | 2.33          |
| 湖北   |           | 1.65        | 1.69        | 1.78        | 1.80        | 1.76        | 1.85        | 1.85        | 1.91        | 1.88        | 1.90        | 1.97        | 1.96        | 1.99          | 2.14          | 2.18          | 2.23          | 2.33          | 2.24          | 2.33          | 2.24          | 2.33          | 2.24          | 2.33          | 2.24          | 2.33          | 2.24          |
| 湖南   |           | 1.64        | 1.69        | 1.78        | 1.80        | 1.85        | 1.87        | 1.88        | 1.91        | 1.88        | 1.91        | 1.94        | 2.18        | 2.20          | 2.23          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          |
| 吉林   |           | 1.58        | 1.61        | 1.74        | 1.75        | 1.85        | 1.87        | 1.87        | 1.91        | 1.87        | 1.91        | 1.93        | 2.18        | 2.18          | 2.18          | 2.23          | 2.24          | 2.33          | 2.24          | 2.33          | 2.24          | 2.33          | 2.24          | 2.33          | 2.24          | 2.33          | 2.24          |
| 江西   |           | 1.60        | 1.65        | 1.73        | 1.76        | 1.84        | 1.89        | 1.88        | 1.91        | 1.88        | 1.91        | 1.94        | 2.17        | 2.20          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          |
| 辽宁   |           | 1.65        | 1.68        | 1.78        | 1.79        | 1.86        | 1.89        | 1.89        | 2.01        | 1.89        | 1.96        | 1.96        | 1.99        | 2.19          | 2.22          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          |
| 内蒙古 |           | 1.64        | 1.68        | 1.78        | 1.79        | 1.85        | 1.88        | 2.01        | 1.96        | 1.88        | 1.96        | 1.99        | 2.19        | 2.22          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          | 2.24          | 2.35          |
| 宁夏   |           | 1.63        | 1.66        | 1.74        | 1.76        | 1.84        | 1.85        | 1.88        | 1.91        | 1.86        | 1.91        | 1.94        | 2.15        | 2.18          | 2.21          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          |
| 青海   |           | 1.60        | 1.65        | 1.73        | 1.75        | 1.85        | 1.86        | 1.86        | 1.91        | 1.86        | 1.91        | 1.94        | 2.18        | 2.18          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          |
| 山东   |           | 1.63        | 1.65        | 1.73        | 1.76        | 1.77        | 1.91        | 1.88        | 1.91        | 1.88        | 1.91        | 1.98        | 1.94        | 2.18          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          |
| 山西   |           | 1.62        | 1.65        | 1.74        | 1.76        | 1.89        | 1.86        | 1.88        | 1.91        | 1.88        | 1.91        | 1.98        | 1.94        | 2.16          | 2.19          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          |
| 陕西   |           | 1.61        | 1.65        | 1.74        | 1.77        | 1.85        | 1.87        | 1.87        | 1.91        | 1.87        | 1.91        | 1.94        | 2.15        | 2.18          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          |
| 上海   |           | 1.58        | 1.61        | 1.71        | 1.76        | 1.76        | 1.84        | 1.86        | 1.91        | 1.86        | 1.91        | 1.98        | 1.93        | 2.27          | 2.18          | 2.33          | 2.19          | 2.33          | 2.19          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          |
| 深圳   |           | 1.54        | 1.61        | 1.74        | 1.77        | 1.76        | 1.84        | 1.88        | 1.97        | 1.88        | 1.91        | 1.98        | 1.94        | 2.18          | 2.33          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          |
| 四川   |           | 1.64        | 1.65        | 1.74        | 1.76        | 1.86        | 1.87        | 1.88        | 1.91        | 1.88        | 1.91        | 1.98        | 1.94        | 2.18          | 2.21          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          |
| 天津   |           | 1.62        | 1.65        | 1.73        | 1.76        | 1.84        | 1.86        | 1.86        | 1.91        | 1.86        | 1.91        | 1.94        | 2.18        | 2.19          | 2.21          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          |
| 西藏   |           | 1.60        | 1.68        | 1.73        | 1.76        | 1.84        | 1.86        | 1.86        | 1.91        | 1.86        | 1.91        | 1.94        | 2.18        | 2.19          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          |
| 新疆   |           | 1.61        | 1.65        | 1.74        | 1.76        | 1.85        | 1.87        | 1.87        | 1.91        | 1.87        | 1.91        | 1.94        | 2.18        | 2.19          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          |
| 云南   |           | 1.64        | 1.67        | 1.78        | 1.80        | 1.87        | 1.90        | 1.90        | 1.96        | 1.90        | 1.96        | 1.99        | 2.17        | 2.18          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          | 2.24          |
| 浙江   |           | 1.58        | 1.62        | 1.73        | 1.76        | 1.76        | 1.85        | 1.87        | 1.97        | 1.87        | 1.91        | 1.98        | 1.93        | 2.18          | 2.33          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          | 2.33          | 2.23          |
| 重庆   |           | 1.63        | 1.65        | 1.74        | 1.77        | 1.86        | 1.87        | 1.87        | 1.91        | 1.87        | 1.91        | 1.94        | 2.18        | 2.18          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          | 2.23          |

资料来源：iFinD，民生证券研究院<|end_of_box|>
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行业数据
2025-08-27
原图定位
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隐含税率超过6%的地方债个券列表(单位:%)
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2025-08-27
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转债个券正股研究至关重要,且与权益类产品的研究方法一致
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2025-07-22
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