Money Market Interest Rate Center May Go Up Slightly.

At present, the risk aversion of market funds has increased, and IPO has been postponed and new funds have been lost.

The accelerated expansion interval of the Monetary Fund started at the end of June, when the market suffered a severe shock, and the risk aversion of investors increased accordingly.

After a sharp adjustment since mid June, the risk aversion of market funds has increased.

After the reprieve, new funds have been lost and the original investment targets have been lost. Therefore, many short-term idle funds want to seek relatively stable investment returns, and the paction oriented Monetary Fund has become the focus of attention of these funds.

Statistics show that as of August 12th, the size of the cash increase has reached 157 billion 500 million, which is 213.99% higher than that of 50 billion 161 million at the end of June.

Coincidentally, statistics show that since July 6th, as of July 30th, Yinhua RI has 19 consecutive trading day trading price is higher than the net value of the fund.

Some of the sensitive funds have begun to apply for arbitrage to obtain excess returns; as of August 12th, the fund has reached 32 billion 800 million sizes.

China ranked second only to Huabao Xingye, which was 234.15% higher than the end of June.

This is not a case. Since the market adjustment in June, the relatively stable field monetary fund began to continue to expand as a whole.

From the increase point of view, the size of the southern financial management fund H was 4 billion 200 million as of August 12th, and the scale of the first half of the year was only 767 million. The scale of the month's scale increased by 447.68%, and the expansion rate was the largest. The investment margin Express line B and Yi Fangda margin B also increased by 427.03% and 410.76% separately in the second half of the year, the current scale is 2 billion 414 million and 18.74 billion.

In the view of the industry, the risk aversion of the market funds has increased, and the new funds have been lost after IPO postponed. Therefore, many short-term idle funds want to seek relatively stable investment returns, and the paction oriented Monetary Fund has become the focus of these funds.

Statistics show that the expansion of the Monetary Fund in the field began at the end of June, when the market suffered severe shocks, and the risk aversion of investors increased accordingly.

"The monetary fund of the venue can achieve seamless connection with the investment stock, that is, the day when the purchase begins to enjoy the proceeds, and the selling day funds will be able to buy stocks and other products immediately, so it is called" field ".

".

A Shanghai based fund analyst said: "after a substantial adjustment since mid June, the risk aversion of current market funds has increased significantly. Many of the funds fled from the stock market want to seek relatively stable investment returns, and the monetary fund has become the first choice of these funds."

On the other hand, with the reprieve of IPO, some of the original big funds also lost their original investment targets. Besides the pformation of fixed income, the more stable but flexible field fund is also its concern.

Looking ahead, Xia Chenxi, the fund manager of Nanfang financial management H, believes that the early monetary policy has been greatly relaxed, but the liquidity has not been effectively entered the real economy, but a large number of deposits in the interbank market, and to a certain extent caused asset price bubbles, especially the recent sharp fluctuations in the stock market may lead to a certain adjustment of the policy. The possible path is to strengthen the directional tools, weaken the total quantity tools, pay more attention to the guidance of the capital to the real economy, and take into account that the future fiscal policy will further exert force. In general, the interest rate center of the money market may go up slightly.