Newsletter summary
30-year special treasury bonds are popular in Shanghai and Shenzhen stock markets.Pennbattle3dx8000It rose more than 13% on the first day and stopped on the first day; analysts reminded investors to pay attention to the risk of price fluctuations in ultra-long-term treasury bonds and invest rationally.
Text of news flash
[30-year ultra-long-term special treasury bonds performed strongly on the first day of trading in the secondary market] yesterday, a new type of 30-year ultra-long-term special treasury bonds made their debut in the secondary market, showing a strong upward momentum. The treasury bonds with the symbol "24 Special Administrative region 01" on the Shanghai Stock Exchange quickly climbed more than 13% after the opening of the market, triggering a temporary suspension mechanism. After resuming trading, the increase further expanded to 25%, halted for the second time in intraday trading, and resumed trading at 15:27. The same amount of treasury bond "Special Administrative 2401" on the Shenzhen Stock Exchange closed up 19%.Pennbattle3dx8000.7%, hit 23% at one point in intraday trading, also experienced a temporary suspension before resuming trading at 13:14:21. This batch of bonds are classified according to the object of issue, belonging to bookkeeping treasury bonds, which are mainly issued to institutional investors and recorded electronically in the Central Clearing Company. After the listing of the secondary market, individual investors also have the opportunity to buy, its price fluctuates with the market, but if held to maturity, investors will receive stable principal and interest income. The coupon of the 30-year special treasury bond is set at 2.57%, which can be traded on both the Shanghai and Shenzhen exchanges, and the interest is paid every six months and remitted directly to the current account. Sun Yulong, chief analyst of national debt, pointed out that 30-year ultra-long-term special treasury bonds are actively traded in the Shanghai and Shenzhen stock markets, and the purchase demand is strong. This phenomenon reflects that in an asset shortage and low interest rate environment, some market participants are more likely to buy stable and safe assets to meet their savings needs. It is reported that in April, the scale of new social financing in China was-198.7 billion yuan, a decrease of 1.42 trillion yuan compared with the same period last year, which was the first negative growth in new social financing since November 2005. Due to the suspension of large time deposits by a number of banks, deposit business is under great pressure. Since the beginning of the year, the demand for bank asset allocation has been strong, and banks may be the main force in this round of buying ultra-long-term government bonds. The investment manager of a financial institution stressed that the 30-year ultra-long-term special treasury bond market is currently too hot, and prices are likely to return to normal range later. At present, the maturity yield of "24 Special country 01" is only 1.53%, which is relatively low, so there is a risk of taking orders at a high level. For individual investors, in view of the long maturity cycle of ultra-long-term treasury bonds, investment should be cautious. Everbright futures treasury bonds Zhu Jintao warned that although ultra-long-term special treasury bonds do not contain credit risk, for investors who do not hold maturity, abnormal fluctuations in bond prices may bring investment risks. While enjoying the investment income, investors also need to be on guard against the potential loss risk, pay attention to the transaction risk and maintain rational investment. Sun Yulong further pointed out that at present, the maturity yield of 30-year treasury bonds is low, and the economy of continuous buying is relatively low. At the same time, as there is a significant negative correlation between 30-year treasury bonds and economic growth, investors need to be alert to the selling pressure of ultra-long-term treasury bonds once the economic recovery and the "asset shortage" situation is alleviated. According to the reminder of the Ministry of Finance, as the trading price of bookkeeping treasury bonds will fluctuate with the market situation, investors may gain trading gains due to rising prices or face the risk of losses due to falling prices. For individual investors who are not for the purpose of holding maturity, but for the purpose of trading profits, they should have certain investment experience and risk-bearing ability.