利率债2026年策略:中性震荡 关注回调配置机会

东兴证券股份有...
Dec 22, 2025

回顾2025:10 年期国债收益率呈“N”型走势,在1.6-1.9%区间震荡,利率上行调整主要因素是央行多目标平衡下阶段性收紧流动性、股债跷跷板效应、通胀预期扰动。下半年 “反内卷”政策推进和股市继续回暖加大了长端利率扰动,导致期限利差走阔。2025 年国内经济呈量偏强价偏弱、外需偏强内需偏弱的特征。全年实际GDP 预计可实现5%的增长目标,外需韧性与财政扩张兑现构成核心驱动力。(1)全年出口增速...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10