核心观点1)券商方面,市场交投活跃度维持高位,近期多家券商披露业绩快报,预计中报业绩延续高增,整体配置价值持续提升;另外保险方面,预期价值率提升继续驱动新业务价值高增;资产端权益市场延续上涨,预期投资收益及利润增长表现较好。当前估值隐含市场对长期投资的悲观假设,考虑中远期利差水平,当前估值仍然安全,看好集中度和负债成本改善。2)从盈利和分红的稳定性维度出发,我们持续推荐盈利增速和分红率稳定的...
Source Link核心观点1)券商方面,市场交投活跃度维持高位,近期多家券商披露业绩快报,预计中报业绩延续高增,整体配置价值持续提升;另外保险方面,预期价值率提升继续驱动新业务价值高增;资产端权益市场延续上涨,预期投资收益及利润增长表现较好。当前估值隐含市场对长期投资的悲观假设,考虑中远期利差水平,当前估值仍然安全,看好集中度和负债成本改善。2)从盈利和分红的稳定性维度出发,我们持续推荐盈利增速和分红率稳定的...
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