The counter repo rate of the Treasury bonds soared

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original title: the counter repo rate of national debt soared continuously

near the end of the year, the stock market low-spirited, Treasury reverse repo rate is nitian. December 26th SSE overnight reverse repo rate bonds (GC001) hit a high of 15.55% yesterday, the highest again soared to 17%. Analysts point out that the price rise of exchange funds shows the increase in capital demand for non silver institutions before New Year's day.

reverse repo rate bonds soared

by the end of the surface tension of funds, the past few days reverse repo rate bonds directly to the balance of treasure and bank financing all seckill. Yesterday, the SSE overnight reverse repo rate bonds (GC001) opened at 8.8%, near around 2:30 in the afternoon soared to 17.005%, and near the close, GC001 also did not like the past like a big diving, eventually closing at 12.57%. According to understanding, GC002, GC003, GC004 closed up to 13.295%, 14.525%, 14.250%, the highest reach of 15.915%, 16.095%, 16.11% in the disk. The close of R-001, R-002, R-003 and R-004 closed down to 3.15%, 8.85%, 9.60% and 9.50% respectively, and the highest prices were 15%, 14.10%, 14.2% and 14.11% respectively.

On Tuesday, the counter repo rate of the exchange treasury bonds was pulled up at the end of

, the highest in the Shanghai Stock Exchange's GC001 plate to 15.550%, closing at 8.36%.

according to the law of the past year, as the end of the year is approaching, the yield of various kinds of counter repurchase of national debt is likely to soar further. Historical data can also explain the problem. Taking the reverse repurchase of the 1 - day treasury bond in Shanghai as an example, it was basically soared in the last 5 trading days at the end of the year. In recent years, in addition to the relatively low rate of return on the chassis in 2015, all the other years have been soaring to more than 20%, of which the end of 2012 soared to 57% at the end of the year.

deep market 1 days of national debt counter buy back varieties of the same performance, in 2012 and 2013, the return rate of the chassis was more than 30%. At that time, investors were rewarded far beyond the market average.

Under the situation that

is not easy to make money in the stock market, the reverse repurchase profit of the national debt appears to be very precious. The annual return rate of 15% of the counter repurchase of national debt is calculated. If you have 10 million on hand, one year is 1 million 500 thousand income, and one day is 4109 yuan. In this analogy, you have 1 million, then a day is 411 yuan income. If you have 100 thousand funds, then one day is 41 yuan income, which is also called "can make a dish money" by investors.

cross year funds are especially tense

in addition to the counter repurchase of national debt, the recent "treasure" products are also rising on the way. Take the largest treasure fund of the largest Monetary Fund in China as an example, its 7 day annual yield reached 6.7630% in January 2014. After that, the yield gradually declined and reached the lowest level in 2.2950% in the middle of September 2016. But then the balance treasure return rate back to the rising channel, the recent period of time continued to climb, yesterday has reached 4.160%.

is worth mentioning that on the 27 day, the central bank's open market operation has been suspended for fourth days. The 40 billion yuan reverse repurchase which expired yesterday has returned to the net naturally, which is a net return for fifth consecutive days.

traders said that at the end of the year, the financial expenditure failed to alleviate the tension of the cross year financing, and the central bank tightened up the "money bag", which increased the psychological pressure of the market organization. The market funds had been tightened recently.

China Merchants Securities Xu Hanfei believes that small and medium-sized banks interpretation of "normal resonance debt shortage and excess reserve rate low at the end of the financial pressure suddenly increased to. However, pessimistic optimism is that on the one hand, the marginal interest rate of IRS has slipped and liquidity expectations have already improved. Secondly, fiscal deposits are slow but not absent. The scale of over trillions of funds is expected to slow down institutional pressure.

"gold securities" correspondent of the bond of bond figures judge yesterday, the back of the counter repurchase interest rate fell, indicating that the end of the fund pressure has eased. return to the Sohu, see more

editor:


From: 国债逆回购利率连续飙升
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