新闻 > 经济
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China

长盛基金李琪:债市配置时机已至

2017-09-25 07:01:53   中国经济网

不确定性减少

债市配置时机已至“今年以来,债券市场大环境不是很理想,不过,对后市尤其是明年的债券市场还是偏乐观的。今年四季度肯定还会有些不确定性的因素,但明年,债市的相对确定性更高,市场会比今年有明显改善,债市配置时机已经到来。”李琪就此向《证券日报》基金新闻部记者道出五点缘由:

一是宏观经济面比较平稳,监管大环境导致资金整体明显上行,融资成本提升增加制造业投资会有下降压力,对债市有利;二是房地产销量回落已经传导到投资,房地产新开工、投资数据均现回落,同样利多债市;三是政府加大了对于地方债务风险的管控,地方政府获取资金的难度在加大;四是货币政策可能趋于放松,至少边际上会放松,对债券市场有利;五是经历了近一年的调整之后,债券市场整体定价已显现,其风险得到极大释放,债券价值正慢慢提升。

当然,债市投资的风险也不容忽视。在李琪看来,宏观经济窄幅波动对债券投资者心理预期有较大影响;当下金融环境是强监管、防风险、去杠杆,政策背景已经确定,交易性机会越来越小,且不会有趋势性机会;三是信用风险,企业的融资环境在变差,特别对于那种民营企业、垃圾债来说,风险仍存;此外,采暖季环保限制政策,对黑色商品价格形成短期冲击,对债券市场同样带来危险。

“投资是一种不完全信息下的决策,讲概率,需要坚持理性策略、控制风险。个人认为,在制定了合理的风险收益目标和投资策略后,需要顺应市场、尊重市场并时刻保持冷静理性。”李琪在采访即将结束时补充说,作为投资者来说,经历了近一年的时间周期调整之后,债券市场的配置价值在提升而不是在削弱,在这个时间点,投资者不应考虑现在是熊市撤出来,而是需要逆向思维积极去配置。

上一页2/2下一页
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China

相关阅读

404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China
分享到:
0 0
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China

美图推荐

404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China

为您推荐

加载更多>>
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China
404 Not Found

404 Not Found

Sorry for the inconvenience.
Please report this message and include the following information to us.
Thank you very much!

URL: http://3g.china.com:8080/act/news/11155042/20170925/31509502_2.html
Server: cms-8-252
Date: 2024/12/26 17:39:34

Powered by China
China