Is there any way to obtain high returns from OTC bases and arbitrage returns from OTC bases? Of course, that is to put money in the external monetary base at ordinary times, and reverse operation at the end of the quarter or the end of the year when the expected market funds may be tight. Buying high discount currency ETF can also obtain considerable short-term investment returns. This is because the more the market is short of money, the more institutional investors want to raise money from all directions, and they will sell their currency ETFs to buy other products with higher returns. At this time, there will be greater selling pressure in the secondary market. The sudden increase of selling orders and the corresponding increase of buying orders will not occur. In the short term, supply will exceed demand, and the price will fall, which will lead to a discount. Sometimes, the sudden rise of stock prices will also lead to a large discount of currency ETFs, because many shareholders want to sell their own bases, Buy stocks to make a lot of money. This kind of behavior of seizing the opportunity to make a speculative transaction in a specific market environment or a special market opportunity is commonly known as "pulling wool". But not every quarter or the end of the year, the market will be short of money. How can we predict whether the short-term market will be short of money in the future? Do you want to collect a handful of wool? At this time, you only need to look at one indicator, that is Shibor.
Shibor Shanghai Interbank Offered Rate, the interest rate indicator is the interest rate of borrowing between banks in mainland China. Banks are the core of finance, and finance is the lifeblood of the economy. Therefore, there must be no difference in the liquidity between banks. In order to prevent the crisis, financial regulators in various countries will make various rigid agreements on capital security for banks. For example, the most important indicator is that the capital adequacy ratio must be higher than 8%. Regulators generally inspect banks once every quarter, so at the end of each quarter, those who lend too aggressively have insufficient liquidity, That is, banks with insufficient cash have to raise money everywhere to deal with this regulation. However, the bank's demand for funds is too large, and asking people to borrow money is not enough, so it can only ask other banks to borrow money to meet the demand. Therefore, it must establish a capital financing market between banks, and everyone helps each other to make a fortune together. The interest rate in this market is not determined by the central bank, and it is completely market-oriented. When most banks are not short of money, the interest rate is low, and the big ones are short of money, the interest rate will soar.
According to the different borrowing time, Shibor's interest rate can be divided into overnight, one week, two weeks, one month, three months, six months, nine months, and one year. One of the key indicators that can best reflect whether the short-term funding of the market is tight is the overnight lending rate. Shibor is an indicator that will affect the price of all assets in China, as well as the goods base, debt base, stock market, including house prices. This is a very important economic indicator.
If you want to obtain shibor data, you can view it on the official shibor website. When the overnight interest rate of Shibor rises sharply, not only the arbitrage space of currency ETF will increase rapidly, but also the yield of the base itself will increase significantly.
Similar to the currency ETF, the investment variety that is also greatly affected by Shibor and has the opportunity to collect wool is called treasury bond reverse repurchase. National debt is the bond issued by the state. Repurchase is a kind of transaction mode, which is to buy back the things that were originally sold. The forward operation is called positive repurchase, and the reverse operation is called reverse repurchase. For those institutional investors who have some treasury bonds that have not yet matured, they may be short of money, so they can borrow money from the market with treasury bonds as collateral. When the borrowing time is up, they can return it to the borrower and then take back the pledged treasury bonds. The behavior of institutions is called treasury bond repurchase. Our individual investors are their counterparties. What we rarely see is not their treasury bonds, but the interest they are willing to pay us. We first take their treasury bonds as collateral, then lend money to each other, and then receive interest from each other to return the treasury bonds. This behavior is called treasury bond reverse repurchase.
According to the borrowing period, the reverse repurchase of treasury bonds can be divided into: one day, two days, three days, four days, seven days, fourteen days, twenty-eight days, ninety-one days, and one hundred and eighty-two days. Among them, the most active ones are those within seven days, especially those within one day. For ordinary investors over seven days, we don't need to think about it because the deadline is too long.
There are two stock exchanges in Shanghai and Shenzhen in China, so the reverse repo of treasury bonds can also be divided into two versions: Shanghai Stock Exchange and Shenzhen Stock Exchange. The trading threshold and return rate of Shanghai and Shenzhen stock markets are different. The price of a reverse repo of treasury bonds in Shanghai Stock Exchange is 1000 yuan, starting from 100 shares, and the transaction threshold is up to 100000 yuan. Therefore, each transaction of the reverse repo of treasury bonds in Shanghai Stock Exchange should be either 100000 yuan to buy or 100000 yuan to sell, with an increase or decrease in the unit of 100000 yuan. However, the pricing of a reverse repurchase of treasury bonds in Shenzhen Stock Exchange is very humanized. The price is 100 yuan, and 10 shares are sold at the beginning, so the investment threshold is only 1000 yuan. Just because their thresholds are different, the interest rates are also different. The interest rate in Shenzhen is lower than that in Shanghai. However, it should be noted that unlike the investment money base, there is a service charge for the reverse repurchase of treasury bonds.
The price fluctuation of T-bond reverse repo is very large. The minimum may be only 1, and the maximum may be 65,. Why are prices so volatile? It turns out that the price of reverse repurchase of treasury bonds is its annualized interest rate. When you place an order to buy at a price of 5, it means that the annual interest rate of your investment is 5%. However, it should be noted that the reverse repo method of buying and selling treasury bonds is the opposite of our usual investment method. When we want to buy treasury bonds with money for reverse repo, we need to click sell, and vice versa. Remember here.
When shibor changes, it is also the time when we can make a small profit on the reverse repurchase of treasury bonds. Although there is no arbitrage mechanism for the reverse repo of government bonds, if the timing is right, the actual effect of pulling wool may not be worse than the monetary ETF. However, it should be noted that compared with currency ETFs, the reverse repo of government bonds has a huge weakness, that is, it is unable to do intra day turnaround transactions. The reverse repurchase of treasury bonds purchased on the same day is irrevocable, and the funds can only be used after being held until the holding period.
However, the money making information of high game varieties such as monetary funds and treasury bond reverse repo is not available on traditional fund information websites. One is to look in the stock market software. The other is to go A collection of thoughts Website to get. On the home page of Jisilu website, click "cash management" to see the reverse repurchase of government bonds, currency ETFs and relatively simple bank T 0 financial products.
