6月金融数据分析：货币政策框架的演进及其投资指向

2. 财政支出节奏变化的风险。 雨兴证券研究所 图2:1 年期国债收益率与商业银行同业存单收益率 3.5 中国:中债困债到期收益率:1年 96 中债商业银行网业存单到期收益率 3.0 (AAA):1年 % 2.5 2.0 1.5 1.0 LO-610Z LO-EZOZ LO+ZOZ I O-I ZOZ LO-I ZOZ I O-E ZOZ I O � ZOZ 0-2202 10-0202 LO-OZOS 10-ZZOZ 用兴证券研究所 资料来源: Wind, | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|---------|-----------|------- ...