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Daily profit loss, monthly rate of return decline. The bond market is volatile and some banks' wealth management net asset values fluctuate significantly. Should investors stay or leave?
① The bond market has upward support logic, and it is highly unlikely that the bond market will experience a widespread and sustained decline like the "breaking point" period. ② Since the "breaking point" period in 2022, financial management companies have paid more attention to overall risk management of their products.
In the past five years, the average annual compound growth rate of residents' total assets is 9.3%. Asset management industry is discussing residents increasing their financial asset allocation. Will deposits enter the capital markets again?
①Since 2023, the proportion of residents' financial asset allocation in China has slightly declined, and the scale of the asset management market has increased by a small margin of 3.41% to 138.38 trillion yuan. ②Experts believe that in a low-yield environment, the proportion of residents' financial asset structure between assets with different risk-return characteristics may return to balance, and deposits are expected to re-enter the capital markets.
Bond Market Closing | Government Bond Market Term Rotation, Mid-term Varieties Interest Rates Rise More Than 1bp
Traders said that the equity market performed poorly, which is bullish for the bond market. The main contract of government bond futures TL opened high and rose 0.22%, with noticeable rotation in bond maturities. After consecutive declines in the short and medium term, the long and ultra-long term show higher cost-effectiveness.
Cross-month fund injection is in a two-tiered state, with insurance funds having a net purchase of over 100 billion yuan in a single week.
Long-term bond pricing rights may be mainly in the hands of insurance and rural commercial banks, and their institutional trading behavior is worthy of attention.
iShares Asia Trust Semi-annual Report
The US dollar is expected to lower interest rates, several banks have preemptively reduced the interest rates on US dollar deposits, and qdii bond funds have seen a counter-trend increase in returns.
① The yield level of USD deposit products will continue to be adjusted according to the frequency of interest rate cuts by the Federal Reserve, and currently the longer-term deposits are mainly being reduced. ② The QDII fund has strong growth momentum in terms of scale and shares, with a scale exceeding 500 billion to 523.673 billion yuan. ③ Considering that the current US Treasury yield curve is still inverted, short-term US Treasury investment with higher interest income as the main focus has relatively higher cost-effectiveness.
