2020年下半年信用债投资策略：迎接挑战 挖掘机遇

2020GDP-6.8%-3.2%-9.6%-5.2%2020A2017201820192020-696201720182019902325827352298

2020A2020-696201720182019-1596-2438-2530-2188

2018

陆家嘴论坛还提到，“下半年货币政策还将保持流动性的合理充裕，预计带动全年贷款新增近20万亿，社融规模增量超过30万亿元”，这意味着下半年社融增速仍将继续回升。

201620196，638177，452157，311

20202020100

2020

6%+00~+-100%~6%-100%

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5AA-19

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20112011AA-AA180BP

2014-2016AA-AA2016180BP

20181AA-AA50BP

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AA-1AA-AA20181112197BP117BP80BP20205BP3AA-12020113AA-

1AA-2016

490AA26.9%AA-37.7%A+9.4%C9.2%AA-AAA-4.7%AA+14.8%AA34%AA-24.6%A+6.8%C9.2%39%AA-47%