4张表看信用债涨跌(4/21-4/25)

Report Summary Core View Among the top 50 AA urban investment bonds (subject rating) with the highest discount margins, "24 Lanchuang 01" has the largest deviation in valuation price. Among the top 50 individual bonds with the largest net price declines, "22 Guijing 01" has the largest deviation in valuation price. Among the top 50 individual bonds with the largest net price increases, "22 Vanke 06" has the largest deviation in valuation price. Among the top 50 Tier 2 and perpetual bonds with the largest net price increases, "23 Huaxing Bank Tier 2 Capital Bond 01" has the largest deviation in valuation price [2]. Summary by Directory 1. Top 50 AA Urban Investment Bonds with the Highest Discount Margins - The bond "24 Lanchuang 01" has a remaining term of 3.90 years, a valuation price deviation of -0.23%, a valuation net price of 102.86 yuan, a valuation yield deviation of 6.50 bp, a valuation yield of 3.85%, a coupon rate of 4.65%, an implied rating of AA-, a subject rating of AA, and a transaction date of April 23, 2025 [4]. 2. Top 50 Individual Bonds with the Largest Net Price Declines - The bond "22 Guijing 01" has a remaining term of 0.00 years, a valuation price deviation of -19.21%, a valuation net price of 80.79 yuan, a valuation yield deviation of 89.12 bp, a valuation yield of 5.26%, a coupon rate of 7.50%, an implied rating of A+, a subject rating of AA-, and a transaction date of April 25, 2025 [5]. 3. Top 50 Individual Bonds with the Largest Net Price Increases - The bond "22 Vanke 06" has a remaining term of 2.21 years, a valuation price deviation of 2.58%, a valuation net price of 86.96 yuan, a valuation yield deviation of -130.10 bp, a valuation yield of 10.61%, a coupon rate of 3.70%, an implied rating of AA+, a subject rating of AAA, and a transaction date of April 22, 2025 [9]. 4. Top 50 Tier 2 and Perpetual Bonds with the Largest Net Price Increases - The bond "23 Huaxing Bank Tier 2 Capital Bond 01" has a remaining term of 3.35 years, a valuation price deviation of 0.17%, a valuation net price of 104.40 yuan, a valuation yield deviation of -5.84 bp, a valuation yield of 3.26%, a coupon rate of 4.68%, an implied rating of AA-, a subject rating of AA+, and a transaction date of April 21, 2025 [12].