利率債專題房?jī)r(jià)與消費(fèi)探析，“財(cái)富”還是“擠出”

1、目錄目錄房?jī)r(jià)與消費(fèi)探析，房?jī)r(jià)與消費(fèi)探析，“財(cái)富財(cái)富”還是還是“擠出擠出”................................................................................6理論：不同角度下的兩大主流觀點(diǎn)..............................................7實(shí)際：財(cái)富效應(yīng)與擠出效應(yīng)共存...........................

2、.....................8解釋：房地產(chǎn)的雙重屬性.....................................................10前瞻：穩(wěn)定房?jī)r(jià)，拉動(dòng)消費(fèi)...................................................12國(guó)內(nèi)宏觀：國(guó)內(nèi)宏觀：BDI指數(shù)上漲，豬肉價(jià)格下跌蛋價(jià)上漲指數(shù)上漲，豬肉價(jià)格下跌蛋價(jià)上漲........................

3、......................................14高頻數(shù)據(jù)：.................................................................14通貨膨脹：豬肉價(jià)格下跌、雞蛋價(jià)格上漲、工業(yè)品價(jià)格漲跌互現(xiàn)...................15重大事件回顧.....................................................

4、..........17國(guó)際宏觀：美國(guó)經(jīng)濟(jì)疲軟，歐元區(qū)經(jīng)濟(jì)增長(zhǎng)放緩國(guó)際宏觀：美國(guó)經(jīng)濟(jì)疲軟，歐元區(qū)經(jīng)濟(jì)增長(zhǎng)放緩..................................................................18流動(dòng)性監(jiān)測(cè)：銀質(zhì)押利率全面下行流動(dòng)性監(jiān)測(cè)：銀質(zhì)押利率全面下行....................................................................

5、......................19公開(kāi)市場(chǎng)操作：預(yù)計(jì)本周自然回籠資金2200億元...............................19國(guó)際金融市場(chǎng)：美股、歐股全面上行國(guó)際金融市場(chǎng)：美股、歐股全面上行......................................................................................20美國(guó)市場(chǎng)：美股上周全面上行.......

6、..........................................20歐洲市場(chǎng)：歐股上周全面上行.................................................21債市數(shù)據(jù)盤(pán)點(diǎn)：利率債收益率整體下行債市數(shù)據(jù)盤(pán)點(diǎn)：利率債收益率整體下行..............................................................................

7、....21一級(jí)市場(chǎng)：本周預(yù)計(jì)發(fā)行利率債10只..........................................21插圖目錄插圖目錄圖20：大宗商品價(jià)格........................................................17圖21：CRB指數(shù)同比領(lǐng)先PPI同比...........................................17圖22：銀行間回購(gòu)加權(quán)利率.

8、.................................................20圖23：銀行間回購(gòu)加權(quán)利率周變動(dòng)............................................20圖24：標(biāo)普500和標(biāo)普500波動(dòng)率(VIX)......................................................................20圖25：美國(guó)國(guó)債收益率.

9、.....................................................20圖26：歐洲交易所指數(shù)......................................................21圖27：歐元區(qū)公債收益率....................................................21圖28：利率債發(fā)行到期.....................

10、.................................22圖29：國(guó)債中標(biāo)利率與二級(jí)市場(chǎng)水平..........................................22圖30：國(guó)開(kāi)債債中標(biāo)利率與二級(jí)市場(chǎng)水平......................................22圖31：進(jìn)出口債中標(biāo)利率與二級(jí)市場(chǎng)水平......................................22圖32：農(nóng)發(fā)

11、債中標(biāo)利率與二級(jí)市場(chǎng)水平........................................22圖33：主要利率債產(chǎn)品上周變動(dòng)..............................................24圖34：銀行間國(guó)債收益率走勢(shì)................................................24圖35：銀行間國(guó)債每日變動(dòng)（相較上周末）...................

12、.................24圖36：銀行間非國(guó)開(kāi)政策性金融債收益率走勢(shì)..................................24圖37：銀行間非國(guó)開(kāi)債每日變動(dòng)（相較上周末）................................24圖38：銀行間國(guó)開(kāi)行金融債債收益率走勢(shì)......................................25圖39：銀行間國(guó)開(kāi)債每日變動(dòng)（相較上周末）........

13、..........................25圖40：銀行間國(guó)開(kāi)行定存浮息債扯平利率走勢(shì)..................................25圖41：國(guó)開(kāi)定存浮息債每日變動(dòng)（相較上周末）................................25圖42：銀行間國(guó)開(kāi)行SHIB浮息債扯平利率.................................25圖43：國(guó)開(kāi)SHIB浮息債每日變動(dòng)（較上周末）

14、.............................25表格目錄表格目錄表1：上周公開(kāi)市場(chǎng)操作情況.................................................19表2：上周發(fā)行利率債產(chǎn)品...................................................23表3：本周計(jì)劃發(fā)行利率債產(chǎn)品......................................