债券专题报告：2020年利率债供给、发行节奏及债市影响

bp 1M 12M 1Y -37 -26 10Y -36 -27 [Table_PicQuote] S0550517100001010-58034582liuchenhan@nesc.cn 2020-02-16 2 / 21[Table_PageTop] 1. .................................................................................................................... 3 2. .................................................................................................................... 3 2.1. 2019.................................................................................................................. 3 2.2. 2020...................................................................................................................... 3 2.3. 2020...................................................................................................................... 6 3. ........................................................................................................ 7 3.1. 2019.................................................................................................................. 7 3.2. ............................................................................................... 8 3.3. 2020.................................................................................................................. 9 3.3.1.2020 ................................................................................................................................................................ 9 3.3.2.2020 .............................................................................................................................................................. 10 3.3.3.2020 ............................................................................................................................... 10 3.3.4.2020............................................................................................................................................. 10 4. ........................................................................................... 11 4.1. ............................................................................................................. 12 4.2. ............................................................................................................. 13 4.3. ............................................................................................................. 15 5. ..................................................................... 16 5.1. ............................................................................................................................. 16 5.2. ..................................................................................................................... 17 3 / 21[Table_PageTop] 1. 2. 2.1. 2.2. 4 / 21[Table_PageTop] 5 / 21[Table_P