Trillions of Yuan anti epidemic rare national debt was issued, and experts said it did not cause pressure on the market fluctuation

 凤凰彩票app下载     |      2020-08-05 19:36
The issuance of

trillion yuan anti epidemic rare treasury bonds ended, experts said it did not cause pressure on market volatility

Bao Xingan, our reporter On July 30, the Ministry of Finance issued a tender for the fourth renewal of the anti epidemic rare national debt (phase IV) in 2020, which actually issued 70 billion yuan. At this point, under the mediation and mutual assistance of fiscal and monetary policies, 1 trillion yuan of anti epidemic rare treasury bonds were issued. Experts believe that, on the whole, the issuance of anti epidemic rare treasury bonds has not caused ups and downs pressure on the bank trading system and A-share market.

The idea of issuing the rare anti epidemic national debt this year is to raise financial funds and promote the prevention and control of new coronary fever and economic and social development. At the meeting of the Political Bureau of the CPC Central Committee held on March 27, the meeting of the Political Bureau of the CPC Central Committee held on March 27 first singled out the \

on June 18, the curtain of anti epidemic rare treasury bonds was officially launched. On that day, 100 billion yuan of Phoenix lottery app was issued. In June, 290 billion yuan of Phoenix lottery app was distributed around, and in July, 710 billion yuan of Phoenix lottery app download was distributed around, which was actively subscribed by investors.

Zhang Yiqun, vice chairman of the performance management committee of the China Finance Association, told the Securities Daily that the issuance of rare anti epidemic treasury bonds this year is characterized by the adoption of market-oriented means. On the basis of matching the exercise cycle of financial funds, the maturity products are mainly 10-year, and considering the market's bearing capacity, the weekly issuance volume has been greasy smoothed, and the market expectations have been calmed.

On the whole, the issuance of 1 trillion yuan anti epidemic rare treasury bonds has not caused ups and downs pressure on the bank trading system and A-share market Pan Helin, Dean and professor of Digital Economy Research Institute of Central South University of economics and law, told Securities Daily that it was better than mutual assistance in all aspects: on the one hand, the issuance period shortened the volume of light treasury bonds and local bonds; at the same time, the anti epidemic rare treasury bonds were issued 16 times in four phases, reducing the short-term pressure on market volatility power. On the other hand, the central bank closely monitors the volatility between bank movements and decides on the open market policy tools such as reverse repurchase and MLF medium-term convenience to keep the volatility consistent.

According to the data of Dongfang fortune choice, from June 18 to July 30, the central bank carried out 21 counter repurchase operations, with a total of 1.65 trillion yuan. Among them, 17 7-day reverse repurchase operations were carried out, with 1.28 trillion yuan around, 4 14 day reverse repurchase operations, with 370 billion yuan around. From June 18 to July 30, 1.57 trillion yuan of reverse repurchase was due 。 In addition, on July 15, the central bank launched a 400 billion yuan medium-term loan facility (MLF). According to the central bank, this MLF operation is a continuation of two MLF maturities and one targeted medium-term lending facility (tmlf) due in July. Among them, the renewal of tmlf can fluctuate continuously with a total term of three years.

\ However, Tao Jin believes that due to the weakening of the fluctuation policy of the central bank in the early stage, the fluctuation of investment has been weakened around and frequency. At the same time, due to the bank's fund behavior, the main force of purchasing anti epidemic rare treasury bonds, temporarily took away one-sided original funds used to purchase other bonds, resulting in a short-term pressure to pay off the bond market funds.

For the A-share market, the issuance of anti epidemic rare treasury bonds has little impact on the market capital. Due to the rarity of anti epidemic, the investment funds of treasury bonds still come from the bank trading system. These funds are not consistent with the investment in the A-share market, and have little impact on the ups and downs of a shares. \