2024-08-14
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[The probability of negative feedback in the current wealth management market is low. On the one hand, the net asset value ratio of the wealth management market has not risen, and the possibility of a redemption wave recurring is limited; on the other hand, the current bond market correction has not driven a significant widening of credit spreads. At the same time, the current market risk appetite is low, and it is difficult for investors to find better investment products in a short period of time, and their tolerance for short-term fluctuations has increased.]
The bond market has been correcting for several consecutive days, and many investors have begun to worry about the negative feedback of financial management.
According to statistics from market institutions, affected by the sharp adjustment in the bond market last week, the yield of wealth management products fell by nearly 200BP month-on-month that week, and the yield of wealth management products with bond assets as underlying assets fell the most significantly.
In the view of industry insiders, the recent deep adjustment in the bond market was mainly affected by policy factors. While many non-bank institutions were selling, insurance funds and other funds chose to buy, and the probability of a wave of redemption of wealth management products was low.
Financial yields fluctuate amid bond market correction
"Low-volatility financial management feels like playing with stocks. I can lose thousands of dollars a day." An individual investor told reporters that the fixed-income financial management and bond funds on hand have fallen sharply recently, and the yields have been significantly lower than in previous weeks, basically turning from positive to negative.
Since August, the bond market has adjusted again. Under pressure, the outstanding scale and yield of bank wealth management products have also changed. Many bond funds have also suffered large-scale redemptions, causing investors to worry about whether the "redemption wave" will reappear.