Tianfeng Securities·2025-06-26 00:44Group 1 - The core idea of the report focuses on the potential for credit subject riding strategies, emphasizing the importance of selecting bonds with a relatively steep yield curve and longer remaining maturities to capture higher coupon rates and riding returns as bond maturities shorten [2][8] - The report highlights that despite a relatively flat yield curve across various credit products, there are still specific subjects with steeper yield curves that may offer riding returns [2][10] - The report provides a selection of credit subjects with larger outstanding bond scales to ensure better liquidity and compares the slope of their yield curves against the corresponding China bond yield curve [3][13] Group 2 - The report lists the results of screening for credit subjects across different maturity segments, focusing on those with outstanding scales above 5 billion and a yield curve slope exceeding the corresponding China bond yield curve slope by 0.05 [14][18] - Specific tables detail the preferred credit subjects for riding strategies in the 3-5 year, 4-6 year, 5-7 year, and 6-10 year maturity segments, including issuer names, credit ratings, and yield comparisons [15][19] - The report includes graphical representations of the yield situation for selected subjects, illustrating their performance against the corresponding China bond curve [11][17]