{"id":1163,"date":"2024-06-16T19:22:38","date_gmt":"2024-06-16T11:22:38","guid":{"rendered":"https:\/\/henrysfinancialnotes.com\/?p=1163"},"modified":"2024-06-16T20:36:54","modified_gmt":"2024-06-16T12:36:54","slug":"what-are-us-treasury-ivestment-grade-bond-emerging-market-bond-high-yield-bond","status":"publish","type":"post","link":"https:\/\/henrysfinancialnotes.com\/en\/what-are-us-treasury-ivestment-grade-bond-emerging-market-bond-high-yield-bond\/","title":{"rendered":"\u7f8e\u570b\u516c\u50b5\u3001\u6295\u7b49\u50b5\u3001\u9ad8\u6536\u76ca\u50b5\u3001\u65b0\u8208\u5e02\u5834\u50b5\u662f\u4ec0\u9ebc? \u54ea\u4e9b\u53ef\u4ee5\u8cb7\uff0c\u54ea\u4e9b\u53c8\u6700\u597d\u5225\u78b0\u5462?"},"content":{"rendered":"

\u4e3b\u6b0a\u50b5\u3001\u6295\u8cc7\u7b49\u7d1a\u50b5\u3001\u5783\u573e\u50b5\u3001\u65b0\u8208\u5e02\u5834\u50b5.. \u660e\u660e\u5c31\u662f\u56fa\u5b9a\u6bcf\u671f\u6536\u606f\uff0c\u6700\u5f8c\u62ff\u56de\u672c\u91d1\uff0c\u9019\u9ebc\u55ae\u7d14\u7684\u91d1\u878d\u5546\u54c1\uff0c\u70ba\u4ec0\u9ebc\u53ef\u4ee5\u8b8a\u51fa\u90a3\u9ebc\u591a\u82b1\u6a23\u5462\ud83e\udd14 \u800c\u5176\u5be6\u9019\u4e9b\u50b5\u5238\u6700\u4e3b\u8981\u7684\u5dee\u7570\u53ea\u6709\u4e00\u500b – \u767c\u884c\u4eba\u4e0d\u540c<\/strong>\uff0c\u4f46\u9019\u537b\u6703\u5c0d\u50b5\u5238\u6295\u8cc7\u4eba\u627f\u64d4\u7684\u98a8\u96aa\u3001\u6f5b\u5728\u7684\u7372\u5229\u6709\u91cd\u5927\u7684\u5f71\u97ff\u3002<\/p>\n\n\n\n

\u7f8e\u570b\u516c\u50b5<\/strong>(US Treasury) – \u6240\u6709\u7f8e\u5143\u50b5\u5238\u5229\u7387\u7684\u5b9a\u9328<\/h2>\n\n\n\n

\u5404\u570b\u653f\u5e9c\u767c\u884c\u7684\u50b5\u5238\u53c8\u7a31\u70ba\u516c\u50b5\u3001\u4e3b\u6b0a\u50b5\uff0c\u800c\u5176\u4e2d\u6700\u7279\u5225\u7684\u662f\u7f8e\u570b\u653f\u5e9c\u767c\u884c\u7684\u50b5\u5238 – \u7f8e\u570b\u516c\u50b5\u3002

\u7f8e\u570b\u516c\u50b5\u662f\u6295\u8cc7\u4eba\u516c\u8a8d\u5e02\u5834\u4e0a\u552f\u4e00\u7684\u300c0\u98a8\u96aa\u7684\u6295\u8cc7\u300d<\/strong>– \u56e0\u70ba\u5927\u5bb6\u76f8\u4fe1\u53ea\u6709\u7f8e\u570b\u653f\u5e9c\u4e0d\u6703\u9055\u7d04\u4e0d\u4ed8\u672c\u91d1\u5229\u606f\uff0c\u6240\u4ee5\u7f8e\u570b\u516c\u50b5\u6b96\u5229\u7387(\u5e02\u5834\u5229\u7387\uff0c\u8a3b1)\u4e5f\u88ab\u8996\u70ba<\/mark><\/strong>\u7121\u98a8\u96aa\u5229\u7387<\/strong><\/mark>\uff0c\u5176\u4ed6\u300c\u6709\u98a8\u96aa\u300d\u7684\u50b5\u5238\u767c\u884c\u6a5f\u69cb\u90fd\u8981\u8996\u98a8\u96aa\u9ad8\u4f4e\uff0c\u7d66\u50b5\u5238\u8cb7\u5bb6(\u6295\u8cc7\u4eba)\u4e0d\u540c\u7684\u5229\u7387\u88dc\u511f\uff0c\u6295\u8cc7\u4eba\u624d\u9858\u610f\u8cb7\u5165<\/mark><\/strong>\uff0c\u4f8b\u5982 :
2\u5e74\u5f8c\u5230\u671f\u7684\u7f8e\u570b\u516c\u50b5\u6b96\u5229\u7387\u662f4.5%\uff0c\u90a3\u5176\u4ed62\u5e74\u5f8c\u5230\u671f\u7684\u50b5\u5238\u6b96\u5229\u7387\u4e00\u5b9a\u662f4.5%\u4ee5\u4e0a<\/strong>
10\u5e74\u5f8c\u5230\u671f\u7684\u7f8e\u570b\u516c\u50b5\u6b96\u5229\u7387\u662f5%\uff0c\u90a3\u5176\u4ed610\u5e74\u5f8c\u5230\u671f\u7684\u50b5\u5238\u6b96\u5229\u7387\u4e00\u5b9a\u662f5%\u4ee5\u4e0a<\/strong>
\u203b\u50b5\u5238\u7684\u5229\u7387\u8981\u5728\u76f8\u540c\u5929\u671f\u7684\u57fa\u6e96\u4e0a\u6bd4\u8f03<\/strong>

\u90a3\u81f3\u65bc\u5229\u7387\u8981\u52a0\u591a\u5c11\u6295\u8cc7\u4eba\u624d\u6703\u8cb7\u55ae\u5462? \u5c31\u770b\u767c\u884c\u6a5f\u69cb\u4fe1\u7528\u597d\u58de\u4f86\u6c7a\u5b9a\u56c9!(\u4fe1\u7528\u8d8a\u5dee\u5229\u7387\u8d8a\u9ad8)<\/p>\n\n\n\n

\u6295\u8cc7\u7b49\u7d1a\u50b5<\/strong>(Investment Grade bond)<\/h2>\n\n\n\n

\u7531\u4fe1\u7528\u8a55\u7b49\u6709\u4e00\u5b9a\u6c34\u6e96\u4ee5\u4e0a\u7684\u516c\u53f8\u767c\u884c\u6240\u767c\u884c<\/strong>\uff0c\u9055\u7d04\u6a5f\u7387\u5728\u5ee3\u5927\u50b5\u6d77\u4e2d\u5df2\u7b97\u662f\u512a\u7b49\u751f\uff0c\u9019\u985e\u50b5\u5238\u98a8\u96aa\u76f8\u8f03\u65bc\u7f8e\u570b\u516c\u50b5\u7a0d\u9ad8\u4e00\u9ede\uff0c\u6240\u4ee5\u6839\u64da\u4e0a\u8ff0\u300c\u7f8e\u570b\u516c\u50b50\u98a8\u96aa\u300d\u7684\u5e02\u5834\u5171\u8b58\uff0c\u5229\u7387\u901a\u5e38\u4e5f\u8981\u9ad8\u4e00\u4e9b(\u8981\u88dc\u511f\u6295\u8cc7\u4eba\u627f\u53d7\u7684\u984d\u5916\u516c\u53f8\u9055\u7d04\u98a8\u96aa)<\/strong>\uff0c\u4f8b\u5982 :
5\u5e74\u5f8c\u5230\u671f\u7684\u7f8e\u570b\u516c\u50b5\u6b96\u5229\u7387\u662f4.7%\uff0c\u860b\u679c(APPL)5\u5e74\u5f8c\u5230\u671f\u7684\u50b5\u5238\u6b96\u5229\u7387\u53ef\u80fd\u6703\u662f4.9%<\/span>(\u9055\u7d04\u98a8\u96aa\u4f4e\uff0c\u6240\u4ee5\u6b96\u5229\u7387\u53ea\u7565\u9ad8\u65bc5\u5e74\u671f\u7121\u98a8\u96aa\u5229\u7387\u76844.7%)\uff0c\u4f46\u88fd\u9020\u696d\u5927\u5ee03M(MMM)5\u5e74\u5f8c\u5230\u671f\u7684\u50b5\u5238\u6b96\u5229\u7387\u53ef\u80fd\u9054\u52305.3%<\/span>(\u4fe1\u7528\u8a55\u7b49\u4f4e\u65bc\u860b\u679c\uff0c\u6240\u4ee5\u6295\u8cc7\u4eba\u6703\u8981\u6c42\u66f4\u9ad8\u7684\u5229\u7387\u4f86\u88dc\u511f3M\u9055\u7d04\u7684\u98a8\u96aa)<\/p>\n\n\n\n

\u5783\u573e\u50b5<\/strong>\u3001\u9ad8\u6536\u76ca\u50b5(Junk bond, High Yield bond)<\/h2>\n\n\n\n

\u4fe1\u7528\u4e0d\u826f\u7684\u516c\u53f8\u6240\u767c\u884c\u7684\u50b5\u5238\u5c31\u662f\u5783\u573e\u50b5<\/strong>\uff0c\u53ea\u8981 :
(1)\u7d93\u6fdf\u60c5\u6cc1\u60e1\u5316\u964d\u4f4e\u516c\u53f8\u7684\u71df\u5229\u80fd\u529b
(2)\u592e\u884c\u5347\u606f\u5c0e\u81f4\u516c\u53f8\u7684\u5229\u606f\u652f\u51fa\u8ca0\u64d4\u589e\u52a0
\u624b\u4e2d\u7684\u5783\u573e\u50b5\u4e00\u4e0d\u5c0f\u5fc3\u5c31\u6703\u8b8a\u6210..\u6441\uff0c\u573e\u5783\u4e86\u3002\u6240\u4ee5\u5783\u573e\u50b5\u7684\u6b96\u5229\u7387\u8981\u975e\u5e38\u9ad8\u624d\u80fd\u88dc\u511f\u6295\u8cc7\u4eba\u627f\u64d4\u7684\u9ad8\u98a8\u96aa<\/strong>\uff0c\u4f8b\u5982 :
5\u5e74\u5f8c\u5230\u671f\u7684\u7f8e\u570b\u516c\u50b5\u6b96\u5229\u7387\u662f4.7%\uff0c\u7f8e\u570b\u767e\u8ca8\u516c\u53f8JC Penney 5\u5e74\u5f8c\u5230\u671f\u7684\u50b5\u5238\uff0c\u6b96\u5229\u7387\u53ef\u80fd\u8981\u9ad8\u905410%\u624d\u6709\u6295\u8cc7\u4eba\u9858\u610f\u8cfc\u8cb7\u3002\u4e5f\u56e0\u70ba\u88ab\u53eb\u5783\u573e\u50b5\u591a\u5c11\u6703\u5f71\u97ff\u8ce3\u76f8.. \u6240\u4ee5\u83ef\u723e\u8857\u91d1\u7ae5\u5c31\u9806\u8457\u9ad8\u6b96\u5229\u7387\u7684\u7279\u6027\uff0c\u628a\u5783\u573e\u50b5\u6539\u53eb\u300c\u9ad8\u6536\u76ca\u50b5\u5238\u300d<\/span>\uff0c\u662f\u4e0d\u662f\u597d\u807d\u591a\u4e86\u5462?<\/p>\n\n\n\n

\u65b0\u8208\u5e02\u5834\u50b5<\/strong>(Emerging Market bond)<\/h2>\n\n\n\n

\u8208\u65b0\u5e02\u5834\u50b5\u6cdb\u6307\u7531\u767c\u5c55\u4e2d\u570b\u5bb6\u7684\u653f\u5e9c&<\/strong>\u516c\u53f8\u6240\u767c\u884c\u7684\u50b5\u5238\uff0c\u70ba\u4e86\u5411\u5168\u7403\u6295\u8cc7\u4eba\u52df\u8cc7\uff0c\u6240\u4ee5\u901a\u5e38\u4ee5\u7f8e\u5143\u767c\u884c\u3002<\/strong>\u98a8\u96aa\u8f03\u7f8e\u570b\u516c\u50b5\u3001\u6295\u8cc7\u7b49\u7d1a\u50b5\u9ad8\uff0c\u6240\u4ee5\u6b96\u5229\u7387\u4e5f\u66f4\u9ad8\uff0c\u800c\u4e3b\u8981\u7684\u98a8\u96aa\u4f86\u81ea\u65bc :
(1)\u958b\u767c\u4e2d\u570b\u5bb6\u4e00\u822c\u4f86\u8aaa\u7d93\u6fdf\u6ce2\u52d5\u8f03\u5927\uff0c\u5f71\u97ff\u653f\u5e9c\u7a05\u6536&\u4f01\u696d\u71df\u6536
(2)\u958b\u767c\u4e2d\u570b\u5bb6\u901a\u5e38\u653f\u6b0a\u8f03\u4e0d\u7a69\u5b9a\uff0c\u800c\u6709\u72c0\u6cc1\u6642\u901a\u5e38\u6703\u9023\u5e36\u5f71\u97ff\u653f\u5e9c\u53ca\u516c\u53f8\u7684\u511f\u50b5\u80fd\u529b(\u5167\u90e8\u56e0\u7d20)
(3)\u5df2\u958b\u767c\u570b\u5bb6(\u5c24\u5176\u662f\u7f8e\u570b)\u5347\u606f\u5c0e\u81f4\u8cc7\u91d1\u5927\u91cf\u6d41\u51fa\u3001\u532f\u7387\u91cd\u8cb6\uff0c\u767c\u884c\u4eba\u7121\u529b\u652f\u4ed8\u4ee5\u7f8e\u5143\u8a08\u50f9\u7684\u50b5\u52d9(\u5916\u90e8\u56e0\u7d20)\uff0c\u4ee5\u571f\u8033\u5176\u70ba\u4f8b :
\u5047\u8a2d\u571f\u570b\u653f\u5e9c\u57282022\u5e74\u4e2d\u767c\u884c10\u5104\u7f8e\u5143\u7684\u4e3b\u6b0a\u50b5\uff0c\u800c\u50b5\u5238\u5c07\u57282024\u5e74\u5230\u671f\u3002\u9019\u6bb5\u671f\u9593\u88e1\uff0c\u571f\u8033\u5176\u8ca8\u5e63\u91cc\u62c9(TRY<\/a>)\u514c\u7f8e\u5143\u56e0\u806f\u6e96\u6703\u66b4\u529b\u5347\u606f\u800c\u8cb6\u503c\u4e8650%\uff0c\u4f46\u571f\u570b\u653f\u5e9c\u7684\u7a05\u6536\u6536\u5165\u9084\u662f\u91cc\u62c9\uff0c\u9019\u5c31\u9020\u6210\u4e86\u50b5\u52d9\u8ca0\u64d4\u6574\u6574\u589e\u52a0100%!<\/p>\n\n\n\n

\u6240\u4ee5..\u6211\u8a72\u8cb7\u4ec0\u9ebc\u5462?<\/h2>\n\n\n\n

\u5982\u679c\u4f60\u662f..

1.<\/strong>\u4e0d\u559c\u6b61\u98a8\u96aa\u7684\u6295\u8cc7\u4eba\uff0c\u7f8e\u570b\u516c\u50b5\/\u6295\u8cc7\u7b49\u7d1a\u50b5\u5728\u90194\u7a2e\u5e38\u898b\u50b5\u5238\u7a2e\u985e\u4e2d\u6703\u662f\u8f03\u597d\u7684\u9078\u64c7 –
(1)\u9055\u7d04\u98a8\u96aa\u4f4e
(2)\u5728\u7d93\u6fdf\u8f49\u5dee\u6642\uff0c\u90192\u7a2e\u50b5\u5238\u50f9\u683c\u901a\u5e38\u6703\u4e0a\u5347(\u5229\u7387\u4e0b\u964d)\uff0c\u82e5\u6709\u505a\u80a1\u50b5\u914d\u7f6e<\/a>\u7684\u8a71\u9084\u53ef\u4ee5\u6709\u6548\u964d\u4f4e\u80a1\u7968\u50f9\u683c\u4e0b\u8dcc\u5c0d\u6295\u8cc7\u7d44\u5408\u9020\u6210\u7684\u8ca0\u9762\u5f71\u97ff

\u4f46\u98a8\u96aa\u548c\u6f5b\u5728\u5831\u916c(\u8a3b2)\u662f\u7e3d\u662f\u4e00\u9ad4\u5169\u9762\u7684\uff0c\u96d6\u7136\u7f8e\u570b\u516c\u50b5\/\u6295\u8cc7\u7b49\u7d1a\u50b5\u8b93\u4f60\u4e0d\u5fc5\u5e38\u5e38\u64d4\u5fc3\u50b5\u5238\u767c\u884c\u4eba\u6703\u4e0d\u6703\u7121\u529b\u511f\u9084\u672c\u91d1\uff0c\u751a\u81f3\u662f\u652f\u4ed8\u5229\u606f\uff0c\u4f46\u7f3a\u9ede\u5c31\u662f – \u5831\u916c\u7387\u76f8\u5c0d\u5e73\u5eb8\uff0c\u4f60\u4e0d\u6703\u7372\u5f97\u592a\u591a\u7684\u98a8\u96aa\u88dc\u511f\uff0c\u53ea\u80fd\u7a69\u7a69\u5730\u3001\u6162\u6162\u5730\u8cfa\u3002

2.<\/strong>\u548c\u54c8\u5229\u4e00\u6a23\u8ffd\u6c42\u9ad8\u5831\u916c\uff0c\u6211\u9084\u662f\u4e0d\u6703\u63a8\u85a6\u4f60\u8cfc\u8cb7\u9ad8\u6536\u76ca\u50b5\/\u65b0\u8208\u5e02\u5834\u50b5\ud83d\ude05\uff0c\u56e0\u70ba\u90192\u7a2e\u50b5\u5238\u548c\u7f8e\u570b\u516c\u50b5\/\u6295\u8cc7\u7b49\u7d1a\u50b5\u4e00\u6a23\u6703\u53d7\u7f8e\u570b\u5347\u964d\u606f\u5f71\u97ff\u5916\uff0c\u9084\u6709\u8ddf\u80a1\u5e02\u4e00\u6a23\u6613\u96a8\u7d93\u6fdf\u597d\u58de\u6ce2\u52d5\u7684\u7279\u6027\uff0c\u4e26\u4e0d\u80fd\u9054\u5230\u4e00\u822c\u4eba\u8cfc\u5165\u50b5\u5238\u7684\u76ee\u7684 –<\/strong>
(1)\u7a69\u5b9a\u3001\u6301\u7e8c\u5730\u7372\u5f97\u56fa\u5b9a\u5831\u916c
(2)\u5206\u6563\u6295\u8cc7\u98a8\u96aa\uff0c\u5728\u80a1\u5e02\u4e0b\u8dcc\u6642\u63d0\u4f9b\u6b63\u5831\u916c\uff0c\u62b5\u92b7\u90e8\u5206\u80a1\u50f9\u4e0b\u8dcc\u7684\u640d\u5931

\u8a3b1: \u6b96\u5229\u7387(Yield To Maturity) = \u5e02\u5834\u5229\u7387 = \u5e74\u5831\u916c\u7387<\/mark><\/strong> >>> \u53ea\u8981\u50b5\u5238\u50f9\u683c\u8b8a\u52d5\u5c31\u6703\u6539\u8b8a\uff0c\u8ddf\u56fa\u5b9a\u7684\u7968\u9762\u5229\u7387\u4e0d\u540c<\/strong>

\u8a3b2: \u70ba\u4ec0\u9ebc\u662f\u8aaa\u300c\u6f5b\u5728\u300d\u5462? \u56e0\u70ba\u5982\u679c\u767c\u884c\u4eba\u9055\u7d04\u4e0d\u4ed8\u9322\u7684\u8a71\uff0c\u8cb7\u9032\u6642\u518d\u597d\u7684\u6b96\u5229\u7387(\u8d8a\u9ad8\u7684\u8cb7\u9032\u5229\u7387\u4ee3\u8868\u8d8a\u4f4e\u7684\u8cb7\u50f9\u683c)\u90fd\u6703\u6210\u70ba\u904e\u773c\u96f2\u7159.. \u6240\u4ee5\u5728\u6700\u5f8c\u4e00\u671f\u62ff\u56de\u672c\u91d1\u524d\uff0c\u4f60\u8cfc\u8cb7\u7684\u300c\u6709\u98a8\u96aa\u50b5\u5238\u300d\u5831\u916c\u7387\u90fd\u9084\u4e0d\u662f100%\u78ba\u5b9a\u7684<\/p>","protected":false},"excerpt":{"rendered":"

\u4e3b\u6b0a\u50b5\u3001\u6295\u8cc7\u7b49\u7d1a\u50b5\u3001\u5783\u573e\u50b5\u3001\u65b0\u8208\u5e02\u5834\u50b5\u7684\u4e3b\u8981\u5dee\u7570\u5176\u5be6\u53ea\u6709\u4e00\u500b..<\/p>","protected":false},"author":1,"featured_media":1194,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37],"tags":[54,67,65,68,64,66],"class_list":["post-1163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","tag-54","tag-67","tag-65","tag-68","tag-64","tag-66"],"blocksy_meta":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/henrysfinancialnotes.com\/wp-content\/uploads\/2024\/06\/different-kind-of-bond-risk.png?fit=1920%2C1080&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/henrysfinancialnotes.com\/en\/wp-json\/wp\/v2\/posts\/1163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/henrysfinancialnotes.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/henrysfinancialnotes.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/henrysfinancialnotes.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/henrysfinancialnotes.com\/en\/wp-json\/wp\/v2\/comments?post=1163"}],"version-history":[{"count":5,"href":"https:\/\/henrysfinancialnotes.com\/en\/wp-json\/wp\/v2\/posts\/1163\/revisions"}],"predecessor-version":[{"id":1206,"href":"https:\/\/henrysfinancialnotes.com\/en\/wp-json\/wp\/v2\/posts\/1163\/revisions\/1206"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/henrysfinancialnotes.com\/en\/wp-json\/wp\/v2\/media\/1194"}],"wp:attachment":[{"href":"https:\/\/henrysfinancialnotes.com\/en\/wp-json\/wp\/v2\/media?parent=1163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/henrysfinancialnotes.com\/en\/wp-json\/wp\/v2\/categories?post=1163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/henrysfinancialnotes.com\/en\/wp-json\/wp\/v2\/tags?post=1163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}