Remaining treasure income breaks 2, structured deposits out of the circle?
Recently, the yield of money funds has continued to fall.Among them, the large-scale budgeted Tianhong surplus treasure currency currency’s 7-year annualized rate of return ended on April 6 and replaced 1.978%, this is the first time this fund has broken the 2% mark for the first time since its establishment.On April 7, the reporter checked Alipay-Yuebao’s internal alternative currency funds and found that Tianhong Yuyuebao Fund, Noan Tiantianbao A, Baoying Currency A, Jingshun Great Wall Currency A, BOC Salary Wallet Currency and many other funds are currentlyThe 7-year annualized return rate is as low as 2%, and Changsheng Tianlibao Currency is only 1.64%.On going, Yingbao did not give a public response.So why does the yield of money funds fall?For investors, is there any allocation value of money funds?As the baby’s financial income continues to decline, will structured deposits become a more reasonable choice?Monetary fund returns fell nearly 50% of the 7-day annualized income fell by 2%. Earning treasure yields decreased. It was just a microcosm of the decline in the yield of money funds.Wind data shows that as of the latest closing date, traditional currency funds have an average annual return of about 1 on 7 days.97%, 2 of the same period last year.53% rating, decreased by 0.56 averages.Specifically, the 7-year annualized return rate of Huaxia Yield Bao B and Huaxia Yield Bao A reached 4, respectively.142% and 3.89%, at least, there are 11 currency funds such as China-Canada Currency C and Pacific Day Japan Gold B. The 7-day annualized return rate exceeds 3%, and more currency funds have a 2% annualized return decline on the 7th, about 325., Accounting for nearly 50% of the size of the 655 traditional currency funds available for inspection.Sauna, Yewang noticed that the yield of money funds on Tencent’s wealth management platform is basically about 2%, and there are too many broken 2, which is roughly equivalent to Yu’ebao. Among them, TEDA Manulife’s current friend A’s annual income in the past 7 daysThe rate reaches 2.888%.Recently, there are Yuyuebao investors wondering, “Why do the funds I hold on the 7th have a lower annualized return than others?”Actually, this is because there are multiple money fund alternatives within Yu’ebao. If an investor believes that his return on Yu’ebao’s rate of return gains, then you can select” View more products “in the fund details of Yingbao to switch products.The loose funds are the main reason. The RRR cuts have been made three times in each year. It is reported that money funds are mainly invested in money market instruments with low risk. Therefore, the increase in their yields is closely linked to the tightness of funds.Since the beginning of this year, after three reductions have been implemented, the cumulative release of long-term funds has exceeded one trillion yuan.On the most recent April 3, the transition decided to lower the reserve ratio for rural credit cooperatives, rural commercial banks, rural cooperative banks, rural banks and urban commercial banks operating only within the provincial administrative area by one amount, releasing a total of long-termThe fund is about 400 billion yuan.According to an analysis by a previous person, this year, affected by the new coronary pneumonia epidemic, major global stock indexes and commodities have experienced a decline in the deviation, and even gold-based safe-haven assets have not been spared.The liquidity investment has further increased, the loose funds have led to the continued decline in market interest rates, and the yield of money funds has inevitably declined.The Ping An Securities Research Report also stated that the yield of money funds continued to decline due to loose liquidity.April is an important observation window for the gradual implementation of RRR cuts and interest rate cuts. The large internal probability will not be like “overwhelming flooding” like overseas, releasing huge amounts of liquidity, and even assessing the indirect impact of domestic economic operations and overseas epidemics on the domestic economy.Adopting a moderate monetary policy, it is expected that liquidity will be appropriately relaxed under a controllable preset.Non-decreasing scale but increasing in scale Since the scale of February increased by 572.1 billion years, the New Coronary Pneumonia epidemic has become a “black swan” in the capital market, US stocks have repeatedly melted, and the world’s stock markets have experienced the largest single-day decline.In contrast, although the return rate of money funds is lower, the stability, safety, and liquidity are all better. Therefore, their scale does not decrease but increases.According to data released by the China Securities Investment Fund Industry Association, the size of the monetary fund increased by 5721 in February.3.5 billion yuan, by the end of January 7.51 trillion increased to 8 at the end of February.08 trillion yuan, also higher than the monetary fund at the end of last year7.The scale of 12 trillion yuan increased by about 13%.”The real thinking of investors is that the price of other assets fluctuates too much, so they use currency funds to avoid risks. In addition, a large number of people pay directly to Yulibao after paying wages, but during the epidemic, consumer spending fell again, then, precipitationOf funds has naturally increased.”A senior fund industry person told reporters.Some people believe that gold, bonds, cargo base, national debt repurchase and other varieties are generally the usual choices for most investors to hedge, but from the perspective of recent market performance, gold is also not “saved”, bond fund investment riskIncreased, especially when the market is faced with uncertain factors, the risk of high-yield debt breaks through.Therefore, on the whole, it can be predicted that the new coronary pneumonia epidemic will still have a profound impact on the global economy, and the capital market is still facing a crisis. At this time, the currency fund is still a good hedging option in fund investment.However, some investors still said, “The rate of return below 2 is too low. I will consider using the money in Yu’e Bao to invest in some other financial products.”The highest yield of structured deposits is a” second spike “cargo base, but it is necessary to be alert to the cargo base of declining risk traps. The yield rate of structured deposits is stable.The reporter learned from the United Nations Bank that most of the current structured deposit yields linked to the exchange rate are 1 in products sold.3% -3.Between 7%, the highest rate of return on structured deposits linked to gold exceeds 4%, while linked stocks are even higher.For example, BOC has some kind of structured deposits of US dollar to euro exchange rate, which is expected to replace annualized income.39% -3.59%; ICBC’s single structured deposit linked to the yen exchange rate is expected to increase annualized income by 1.35% -3%; China Merchants Bank’s first-grade linked gold bullish three-month structured deposits in the three-tier range are expected to produce an annualized yield of 1.35%, 4% or 4.2%; while Ping An Bank only links the structural deposits of Shanghai and Shenzhen 300 bullish shark fins 4004 period, the highest yield is expected to reach 7.5%.Ping An Bank linked the Shanghai and Shenzhen 300 bullish shark fin 4004 structural deposits, and expected the highest yield reachability7.5%. Screenshot from the official website.Relevant persons of Puyi Standard told reporters that the average maximum yield bid for RMB structured deposits was 4 in the past month.88%, with an average minimum return of 1.27%, but not all products will disclose the repeated rate of return.Some bank employees are competent. At present, the highest rate of return on some structured deposits has exceeded that of wealth management products over the same period.The list of product sales for several banks obtained by the reporter shows that the highest expected annualized return rate of many non-guaranteed financial management is only about 4%, and the rate of return on fixed income financial management has increased.The maximum rate of return on structured deposits is a “second spike” of large deposit certificates, and the purchase of door cloud computing.For example, the three-month large deposit income of the Commonwealth Bank increased by 1.595%, 1 for 6 months.885%, 2 for one year.25%, the initial deposit amount is 200,000 or 300,000 yuan, while the structural deposit is generally only 1 million.However, because the return of structured deposits is linked to the conversion index of currency exchange rates, bank interest rates, financial derivatives, etc., its risk coefficient is higher.According to the statistics of the general benefit standard, in the week of March 28-April 3, there are two structured deposit yields “bottoming out”, one is linked to the spot price of gold, and one is linked to the stock index, the highest expectedThe rate of return can reach 6.28% and 4.5%, but all ended up with 0.The minimum yield of 5% is fulfilled.During a recent investigation, the reporter also found that some bank employees still have the situation of “emphasis on historical earnings performance and less risk warning”.In early March of this year, a notice on strengthening deposit interest rate management was gradually issued, clearly replacing the structured deposit guaranteed yield with the scope of self-regulation management, and allocating the deposit interest rate management regulations and self-discipline requirements to the Macro Prudential Assessment (MPA).Senior financial person Bi Yanguang analyzed that this will restrict the bank ‘s high interest rate lending behavior. Although the red line of the deposit-loan ratio assessment has been cancelled in recent years, some small and medium-sized banks are still relatively under financial pressure.Scrambling to raise interest rates in Latin American deposits is still common. The notice is to regulate this behavior, otherwise excessive exposure will cause vicious competition.Sauna, Ye Wang Pan Yichun Cheng Weimiao Chen Peng Editor Chen Li proofread Li Ming