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Report Title: Everbright Fixed Income Credit Spread Database_20240628
Report Release Date: June 29, 2024 Analyst: Zhang Xu Practicing Certificate Number: S0930516010001 Contact: Qin Fanghao
summary
Sector credit spreads rose broadly last week. Among the first-level industries in Shenwan, the AAA-rated industry credit spread has the largest upward trend for computers, with an upward trend of 7.5BP, and the largest downward trend is for automobiles, with a downward trend of 0.6BP; the largest upward credit spread of AA+ industry is light industry manufacturing, with an upward trend of 6.7BP, and the largest downward trend is building materials, with a downward trend of 19.8BP; the largest upward credit spread of AA-rated industries is commercial trade, with an upward trend of 5.1BP, and the largest downward trend is agriculture, forestry, animal husbandry and fishery, with a downward trend of 47.3BP. Coal credit spreads were mixed last week, while steel credit spreads rose overall. The three levels of coal credit spreads are up 5.4BP, 3.4BP up and 2.1BP downside respectively. AAA and AA+ steel credit spreads rose by 5.4BP and 6.3BP respectively. Credit spreads across all grades of urban investment and non-urban investment rose last week. The credit spreads of the three levels of urban investment rose by 3.9BP, 3.8BP and 2.9BP respectively, and the non-urban investment credit spreads of the three levels rose by 4.2BP, 4.6BP and 6BP respectively. Last week, the credit spreads of state-owned enterprises rose as a whole, and the credit spreads of private enterprises were mixed. The credit spreads of the three levels of central state-owned enterprises rose by 5.3BP, 3.4BP and 4.5BP respectively, the credit spreads of the three levels of local state-owned enterprises rose by 4BP, 4.6BP and 3.8BP respectively, and the credit spreads of the three levels of private enterprises rose by 9.1BP, 1.6BP and 7.8BP respectively. Credit spreads were mixed last week. Spread level: The three regions with the highest AAA credit spreads last week were Yunnan, Tianjin, and Henan, with credit spreads of 91, 67, and 65BPs, respectively; The AA+ credit spreads were the highest in Qinghai, Liaoning and Yunnan, with credit spreads of 143, 120 and 119BPs respectively. The AA-rated credit spreads were the highest in Shandong, Sichuan and Guangxi, with credit spreads of 152, 110 and 95BPs respectively. MONTH-ON-MONTH CHANGE: LAST WEEK, THE MOST UPSIDE AAA CREDIT SPREADS WERE CHONGQING, UP 7.9BP, YUNNAN, DOWN 9.2BP, INNER MENG, UP 4.7BP, YUNNAN, DOWN 7.3BP, AAA CREDIT SPREADS ROSE THE MOST, UP 32.1BP, AND SHANDONG, DOWN 12.3BP. Credit Spread Distribution (AAA)
Credit Spread Distribution (AA+)
Credit Spread Distribution (AA)
Annotation:
1. Each row represents a sector, the shade of color indicates the frequency of occurrence at that spread level, and the darker the color indicates the more concentrated the distribution; The first line is in %.
2. The data window is early 2014 to date.
3. The data source used in this database is Wind.
4. For details of the database bond selection standards and algorithms, please refer to the "Detailed Explanation of Credit Spread Algorithm - Modeling Instructions for Spread Database".
Spread profiles by attributes
Note: To download the full database, please contact Everbright Fixed Income Research Team
Provincial urban investment
Note: To download the full database, please contact Everbright Fixed Income Research Team
Credit spreads in key sectors
Note: To download the full database, please contact Everbright Fixed Income Research Team
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