【申万固收|转债】风偏或波动，中期看成长——2025年4季度可转债市场展望

Core Viewpoint - The article discusses the outlook for the convertible bond market in the fourth quarter of 2025, highlighting the potential for growth amidst volatility and risk appetite shifts [2] Group 1: Market Trends - The convertible bond market is expected to experience fluctuations in risk appetite, influenced by macroeconomic factors and investor sentiment [2] - Growth prospects are anticipated in the medium term, driven by underlying economic conditions and corporate performance [2] Group 2: Investment Opportunities - The article suggests that investors should focus on sectors with strong growth potential, as these may offer better returns in the convertible bond space [2] - It emphasizes the importance of selecting convertible bonds from companies with solid fundamentals to mitigate risks associated with market volatility [2]