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????:2024-12-06 10:32:52 ??:????

????:2023?????????:????

???:????????????????

?????,????????“????”?

12??????????????5?,10???,10????????“24???????????????????11”???0.25BP(??????)????????????????????1.95%?

??12???????????????????2??????,10?2%????????????????????????,?????11?????????????????29???????????,«?????????????????????????»??????????,?????????????,????????,AAA????????????????9BP??????1.705%,?????????10?4BP????????????1.98%,?????2002?????????????????4??????????26???

?????:“‘???’?????,?????????????????,???????,????????????????20BP?”??????????,????,????,??????????????????,????,?????????????????

?????????,???????????2025??10?????????????1.6%~1.8%???????????????,2%???????????,?,????????????,???

“????”??????????????

?,??9?????????,???2%,????????1.77%,?????????????1.345%,?????????????50BP???????40BP?

??????????????????“????”??,?????????,???????????12????,????????????????,?????????????1?????1.70%,11?????1.83%~1.89%??????????????,12??????4???????????,????????(8.230, 0.04, 0.49%)????381????382???????,???1??3??,?????????1.6%?1.63%?

?????????,??????????????????,????????????????????,???????????7?,????????????0~1.5%?????????????

????????????????????,?????????10?,??????????????????????31.2????????????????,??????????,?15????????????????????,??????????????5??,???????7.31????????????,???????????????????8.2????

?????????????,????????????,??10%????????,??????,?????????????????10%,??1.5%????,??????????????30BP,?????????????????????,????

??????????????????????????,?30BP,??????????,??????????????

???????????????,?????,???????,???????????????????,??????,?????????????????????????????,???????????,?????

10???

??,11??,??????????,10????????????????????????2%,??????1.8%,2025???????????1.6%~2%?

??,??????????????,???????,???????????????????????,????????????????????,???;??,????????????,????????????????,??????

????????????,?????????????????????,????????????????????,????????????????,??????????,???????

????????????????,???????????,???????;??????????????2025????10????????1.8%??????????????,???????????2%??????????????????????,??????????????????????????????????,?;?????????????,??????????????????1~3?????????60%?,??????“??”???,???????????

?,11???PMI?????50.3%,?????????????,??????,???????????????????????????????????,??????????????,????????????????????????????????????????,?????????????

?????????????????,11???9.5%,????????????????30????18.5%,?????????????????,????????????????????????????????

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???????“??????????????????????????”,????,????,???????????????????????

????????????????,?????????(12?????????????3???????)?,?????????????????????????????

?,?????????????????????????????,???A????????????,???????????????????????12??10???????,????????????????????????????????

??:“?????,???3???????,???????????????,???????????”

??????,??????????????????,????????????????,??????????????,?????????,????????????

??????????,???????,????3.5%??????????4%??,???????????????????????4%?????,????????????,?????????????3%??????,?????

????????,??????,“????????????????”??????,??????????????,???????????????????,?,?12????,??????????????? ????:????????????

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