固定收益部市场日报-20260325

CMBI Credit Commentary Fixed Income Credit Commentary 25 Mar 2026 Glenn Ko, CFA 高志和 (852) 3657 6235 glennko@cmbi.com.hk Cyrena Ng, CPA 吳蒨瑩 (852) 3900 0801 cyrenang@cmbi.com.hk Trading desk comments 交易台市场观点 Yesterday, WESCHI 28-29 leaked 0.7-1.0pt. West China Cement reported a 15.3% yoy increase in revenue in FY25 yet weaker 2H25 results. See our comments yesterday. In Chinese IG space, XIAOMI 30-51 closed 1-4bps wider. Xiaomi's FY25 revenue was up 25% yoy to RMB457.3bn. See comments below. 5-10yr MEITUA tra ...