Bond Prices Plunged Quickly, And Treasury Futures Fell Even Once.

Sudden deleveraging is causing a huge wave of bond markets.

The bond market began to end in late October, and the U-turn futures were down.

After this wave of decline, most institutions do not feel pessimistic about the future performance of the bond market.

INVESCO the Great Wall fund told reporters that interest rate debt, the negative factors released after a better trading opportunities.

The market is in a mess. The bond funds invested in the bond market have been dragged down. The net value of the fourth quarter has plunged sharply. The 1257 bond funds (Class A, B separately, the same below) fell by 1.795% on average, basically swallowing the cumulative increase in the first three quarters of this year.

As of December 20th, 707 bond funds were negative.

In the past half a month, bond market turmoil has continued, bond prices have plunged rapidly, and Treasury futures have even declined.

Although the main responsibility lies in individuals who are suspected of criminal offences, in order to maintain the overall situation and fulfill their social responsibilities, I agree with the parties involved in the bond trading agreement, and are willing to share responsibilities with all participants. At the same time, our company will prosecuted the criminal liability of forged company seals according to law.

Although the state of the securities of the national sea, making the bond market a short period of time, treasury bond futures also rebounded on the same day, but not calm in December, the bond market is still a mess.

Statistics show that, as of December 20th, the average yield of bond fund products has fallen from the rise in year to December 20th, and the average 1275 bond funds have dropped by an average of 0.07%.

The fourth quarter is the key period of phagocytic revenue, and the average yield of bond funds is -1.795%.

B, a debt class with leverage, is even more vicious.

7 bond funds fell more than 10% in the four quarter, of which B was the largest, reaching 14.75%. In the first three quarters of this year, the fund's return was 8.71%, but the four quarter's diving not only smoothed the efforts of the first 9 months, but also showed a 7.33% loss.

For the fund's setback, Li Xiaofang, a researcher at the research center of the Heng fund research center, said in an interview with reporters that according to the three quarter position held by the fund, the three quarter increased by 78.24% of the bond positions, and the positions disclosed increased sharply to 152.62%.

Although the configuration of the past ten major securities companies is interbank deposit certificates and the main credit rating of the higher bills, but in the financial market to suppress asset bubbles in the big environment, such a counter trend and vigorously leverage, the net value of the fund will be more severe.

In addition to the B, the three products of Peng Hua Feng Xin grade debt B, Xincheng double surplus class B and Haitong double fortune B are all more than 14%.

A large private equity fund in Shanghai admitted in an interview with reporters that the phenomenon of agency holding is more common in the bond industry.

Since the bond market has been in the bull market, everyone's eyes are only income and no risk. The greater the leverage ratio in the bond market, the higher the profit.

In order to gain more profits, everyone is trying to add leverage, so once the liquidity is shrinking, the Domino bond market collapses, which may lead to stampede effect.

At present, the statement of the state securities is only a temporary solution to the problem of the bond market. Is there any risk point to be followed up?

But after this campaign, everyone's concern about liquidity will be raised to a new level.

"This month is really tough, and often sleepless in the evening.

The hard earned money in one year has not only sped back all the time, but also suffered a loss. Psychological pressure can not be great. The entrusted agency offered redemption at this juncture, and the proportion of some products is very high, or even more than half. Under such circumstances, the redemption can be imagined.

Since last week, the company has held meetings on the basis of the debt position and redemption every day, and at most three times a day, the pressure is enormous.

A fund manager of a large and medium-sized fund company in Shenzhen told reporters.

The "Davies double kill" at the end of the year will not only cause the fund's net worth to dive, but also the year-end bonus of the fund manager.

The head of the marketing department of a large fund company in Southern China says that the salaries of fund managers are generally divided into two basic salary and merit pay.

In most cases, the proportion of basic pay and merit pay is 1:2, and some companies even reach 1:6 or even higher.

At present, the yields of bond funds have plunged sharply, especially because some bank outsourcing funds do not meet the agreed income requirements. The fund companies do not have a performance commission, which is basically dry. In this case, performance pay is also shrinking dramatically.

"Even in November, when the bond fund manager was very excited, he expected the big bull market to have a fat year, but the excitement of the past month has turned into sadness, and the bonus has gone."

The above market department official said.

However, after this wave of decline, most institutions do not feel pessimistic about the future performance of the bond market.

Interest rate debt, the negative factors released after a better trading opportunities.

In terms of credit debt, in 2016, under the promotion of outsourcing funds, the strength of the broad fund as the main force is the main factor to lower the yield and spreads of credit bonds. However, under the general trend of strengthening financial supervision, the growth rate of off balance sheet financing in 2017 will be affected. The pressure of the broad fund allocation will be greatly alleviated, and the credit spreads at historic lows will be uplifted.

Estimated 2017 bonds

It will be recommended to defend primarily in 2016 than in 2016.

Sudden deleveraging

Big waves.

The bond market began to end in late October, and the U-turn futures were down.

After this wave of decline, most institutions do not feel pessimistic about the future performance of the bond market.

INVESCO the Great Wall fund told reporters that interest rate debt, the negative factors released after a better trading opportunities.

The market is in a mess. The bond funds invested in the bond market have been dragged down. The net value of the fourth quarter has plunged sharply. The 1257 bond funds (Class A, B separately, the same below) fell by 1.795% on average, basically swallowing the cumulative increase in the first three quarters of this year.

As of December 20th, 707 bond funds were negative.

In the past half a month, bond market turmoil has continued, bond prices have plunged rapidly, and Treasury futures have even declined.

Although the main responsibility lies in individuals who are suspected of criminal offences, in order to maintain the overall situation and fulfill their social responsibilities, I agree with the parties involved in the bond trading agreement, and are willing to share responsibilities with all participants. At the same time, our company will prosecuted the criminal liability of forged company seals according to law.

Although the statement of state securities made the debt market turmoil for a while, treasury bond futures also showed retaliatory rebounding on the same day. However, in December, the disquiet of the bond market still made a mess of the bond market.

Statistics show that as of December 20th, the average bond fund products during the year

The 1275 bond funds have dropped 0.07% on average.

The fourth quarter is the key period of phagocytic revenue, and the average yield of bond funds is -1.795%.

B, a debt class with leverage, is even more vicious.

7 bond funds fell more than 10% in the four quarter, of which B was the largest, reaching 14.75%. In the first three quarters of this year, the fund's return was 8.71%, but the four quarter's diving not only smoothed the efforts of the first 9 months, but also showed a 7.33% loss.

For the fund's setback, Li Xiaofang, a researcher at the research center of the Heng fund research center, said in an interview with reporters that according to the three quarter position held by the fund, the three quarter increased by 78.24% of the bond positions, and the positions disclosed increased sharply to 152.62%.

Although the configuration of the past ten major securities companies is interbank deposit certificates and the main credit rating of the higher bills, but in the financial market to suppress asset bubbles in the big environment, such a counter trend and vigorously leverage, the net value of the fund will be more severe.

In addition to the B, the three products of Peng Hua Feng Xin grade debt B, Xincheng double surplus class B and Haitong double fortune B are all more than 14%.

A large private equity fund in Shanghai admitted in an interview with reporters that the phenomenon of agency holding is more common in the bond industry.

Since the bond market has been in the bull market, everyone's eyes are only income and no risk. The greater the leverage ratio in the bond market, the higher the profit.

In order to gain more profits, everyone is trying to add leverage, so once the liquidity is shrinking, the Domino bond market collapses, which may lead to stampede effect.

At present, the statement of the state securities is only a temporary solution to the problem of the bond market. Is there any risk point to be followed up?

But after this campaign, everyone's concern about liquidity will be raised to a new level.

"This month is really tough, and often sleepless in the evening.

The hard earned money in one year has not only sped back all the time, but also suffered a loss. Psychological pressure can not be great. The entrusted agency offered redemption at this juncture, and the proportion of some products is very high, or even more than half. Under such circumstances, the redemption can be imagined.

Since last week, the company has held meetings on the basis of the debt position and redemption every day, and at most three times a day, the pressure is enormous.

A fund manager of a large and medium-sized fund company in Shenzhen told reporters.

The "Davies double kill" at the end of the year will not only cause the fund's net worth to dive, but also the year-end bonus of the fund manager.

The head of the marketing department of a large fund company in Southern China says that the salaries of fund managers are generally divided into two basic salary and merit pay.

In most cases, the proportion of basic pay and merit pay is 1:2, and some companies even reach 1:6 or even higher.

At present, the yields of bond funds have plunged sharply, especially because some bank outsourcing funds do not meet the agreed income requirements. The fund companies do not have a performance commission, which is basically dry. In this case, performance pay is also shrinking dramatically.

"Even in November, when the bond fund manager was very excited, he expected the big bull market to have a fat year, but the excitement of the past month has turned into sadness, and the bonus has gone."

The above market department official said.

However, after this wave of decline, most institutions do not feel pessimistic about the future performance of the bond market.

INVESCO the Great Wall fund told reporters that interest rate debt, the negative factors released after a better trading opportunities.

In terms of credit debt, in 2016, under the promotion of outsourcing funds, the strength of the broad fund as the main force is the main factor to lower the yield and spreads of credit bonds. However, under the general trend of strengthening financial supervision, the growth rate of off balance sheet financing in 2017 will be affected. The pressure of the broad fund allocation will be greatly alleviated, and the credit spreads at historic lows will be uplifted.

It is expected that the bond yields will rise in 2017 than in 2016. It is suggested that the operation should first focus on defense, reduce portfolio duration and position, and wait for the allocation opportunities after the adjustment of the bond market.

Ma Quansheng, chief strategist of Wells Fargo fund, told reporters that in the medium to long term, the downward trend of potential economic growth has not changed, and the more relaxed monetary policy will continue.

Next spring, before the middle of the year, the domestic bond market is a good window period.

When the market adjustment is in place, we can adopt the left trading thinking and advance the layout.

For more information, please pay attention to the world clothing shoes and hats net report.

Reduce portfolio duration and position and wait for the allocation opportunities after the bond market is adjusted.

Ma Quansheng, chief strategist of Wells Fargo fund, told reporters that in the medium to long term, the downward trend of potential economic growth has not changed, and the more relaxed monetary policy will continue.

Next spring, before the middle of the year, the domestic bond market is a good window period.

When the market adjustment is in place, we can adopt the left trading thinking and advance the layout.

For more information, please pay attention to the world clothing shoes and hats net report.