Government bond ETF
- 1044.407
- +1.601+0.15%
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.
Government bond futures closed higher today. Industry insiders believe that the central bank has a firm stance on stabilizing long-term interest rates, and the 10-year government bond yield will fluctuate within a range.
① Today, both futures and stocks are strong, while short-term government bonds have fallen significantly. The central bank has ended its net withdrawal for four consecutive working days and has made a significant net injection. ② In the short term, long-term bond yields will continue to fluctuate due to central bank regulation, and the fluctuation range of the 10-year government bond yield will be between 2.1% and 2.3%.
At the crossroads of the bond market, with the net asset value of more than 3,000 bond funds retracting, and no way to avoid retailization, how should fund companies respond?
The average holding ratio of individual investors in public offering conservative products has increased from 25.61% in 2022 to 27.48% in 2023. One of the current focuses of public offerings is how to cope with the trend of retailization.
Understanding the Central Bank's Treasury Bond Borrowing Operation in One Article.
Analysis suggests that trade volume is key. Currently, the daily secondary turnover of national bonds is between 400-500 billion yuan. Therefore, if the central bank wants to influence interest rates by selling, the operation size cannot be too small. Even if it is less than 100 billion yuan, it still needs several hundred billion yuan. If it is within 10 billion yuan, the guidance effect is greater than the actual effect.