Core Viewpoint - Schroders Investment indicates that the current rise in global bond yields is an overreaction to the anticipated interest rate hikes, presenting attractive entry points for investors as the likelihood of an economic "soft landing" increases [1] Group 1: Economic Outlook - The probability of an economic "soft landing" has been raised, while the chance of a "hard landing" has been lowered, reflecting initial signs of stabilization in labor market indicators such as small business hiring intentions [1] - Schroders predicts a mild economic slowdown by Q4 2025, considering a moderate inflation outlook and the potential dovish stance of the new Federal Reserve Chair [1] Group 2: Investment Opportunities - The recent rise in bond yields provides a good opportunity for long-term positioning in cautious economies like the Eurozone, and offers more strategic bond market investment opportunities in Japan and Canada [2] - Short-term UK government bonds (five years or less) are viewed positively for long-term positioning due to signs of easing labor market conditions and fiscal tightening expected in 2026 [3] Group 3: U.S. Interest Rate Outlook - The U.S. interest rate outlook suggests that the yield curve will steepen, with 10-year and 30-year bonds underperforming compared to 2-year and 5-year bonds, reflecting the weak fiscal situation of the U.S. economy [3] - The Federal Reserve's recent decision to expand its balance sheet through asset purchases is seen as a positive for short-term U.S. Treasury bonds and global liquidity, although it is not considered a traditional form of quantitative easing [4] Group 4: Credit Market Insights - In the corporate credit space, Schroders maintains a cautious view due to narrow spread valuations but has slightly upgraded ratings across various credit assets, anticipating better opportunities if spreads widen [4] - Agency Mortgage-Backed Securities and covered bonds remain the preferred choices in bond allocation for Schroders [4]

Group 1 - The core viewpoint is that the recent rise in bond yields has been excessive, and the potential for an economic "soft landing" presents attractive entry points for investors [1] - Schroders has increased the probability of a "soft landing" scenario while lowering the chances of a "hard landing," reflecting early signs of stabilization in labor market indicators [1] - The recent rise in bond yields provides an opportunity for cautious economies, such as the Eurozone, to establish long positions in bonds, with Japan and Canada also presenting strategic investment opportunities [1] Group 2 - The outlook for UK short-term government bonds is positive due to signs of inflation easing, a loosening labor market, and anticipated slight fiscal tightening in 2026 [2] - The US economy is expected to maintain good growth through 2026, supported by the "One Big Beautiful Bill," despite a weak local labor market [2] - The US interest rate curve is expected to steepen, reflecting the weak fiscal situation characterized by a large budget deficit and rising debt-to-GDP ratio [2] Group 3 - The December FOMC meeting resulted in a rate cut and an expansion of the balance sheet through asset purchases, which is seen as a positive for short-term US government bonds and global liquidity [3] - The corporate credit outlook remains cautious due to narrow spread valuations, but slight upgrades in ratings have been made considering the supportive macro environment [3] - Agency Mortgage-Backed Securities and covered bonds continue to be preferred choices in bond allocations [3]

上述债券规模为96,000,000美元、息票率为7.0%、将于2028年到期(ISIN：XS3051026790)，该债券由抚 州市数字经济投资集团有限公司发行并由江西省信用融资担保集团股份有限公司(Jiangxi Province Credit Financing Guarantee Group Co., Ltd)提供无条件且不可撤销担保。 本次发行已委托保利证券、信银资本、中国银河国际担任联席全球协调人、联席承销商及联席帐簿管理 人，博威环球证券、国泰证券香港、申投证券、中信证券、民银资本、德林证券(香港)、英皇证券、远 东宏信国际、金裕富证券、国信证券(香港)、海通国际、瑞丰国际证券、华瑞证券、山证国际、中合国 际证券、浦银国际、星河证券、星空证券、淞港国际证券、天晟证券、天风国际、汇生证券、圆通环球 证券担任联席帐簿管理人及联席承销商。 久期财经讯，4月29日，抚州市数字经济投资集团有限公司(Fuzhou Digital Economy Investment Group Co Ltd.，简称"抚州数字经济投资集团")发布公告称，如发行通函中所述(日期为 2025 年 4 月 23 日发行通 函)，仅面 ...