摘要
本文借鉴国际次级债市场的成熟经验,结合国内银行业自身特征及政策环境,分析认为国内银行发行的次级债务与国债的利差基本合理,而次级债券与国债的利差偏小。在次级债的供求方面,本文预计能基本取得平衡,但次级债的投资群体需要进一步多元化,以分散风险。
Based on overseas experience of junior bondmarket as well as review of Chinese circumstances, the authorbelieves that interest gap is basically reasonable betweenChinese junior debts and TB, while the gap between juniorbonds and TB is slightly narrow. The demand and supply ofjunior debts is believed to be in overall balance, but theinvesting base shall be diversified to disperse risks.
出处
《证券市场导报》
北大核心
2004年第12期66-68,共3页
Securities Market Herald
