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Some banks have started to sell ultra-long-term special treasury bonds. A reporter from the Shanghai Securities News learned on the 20th that China Merchants Bank and Zhejiang Merchants Bank today opened the first batch of 30-year ultra-long-term special treasury bonds to individual customers, and the purchase time is limited to today.
Some banks are open to individual purchases.
"the whole China Merchants Bank has a purchase quota of only 500 million yuan." The staff of a branch of China Merchants Bank in Beijing revealed to the reporter.
According to the staff member, individual customers can buy ultra-long-term special treasury bonds through the counter of China Merchants Bank or by logging in to online banking through computers. The purchase time is May 20, 10, 00, 15, 15, 30, and only for today. The starting purchase amount is 100 yuan, and it needs to be an integral multiple of 100 yuan. There is no purchase limit.
"individual customers need to meet the customer risk rating of A3 or above before they can buy, and the product has a risk rating of R3." The above staff member of China Merchants Bank said that the interest rate on the bond was 2.9stackspoker.57%, the term is 30 years, and the interest is paid semi-annually. It can not be paid in advance after purchase, but transactions can be carried out.
A staff member of a branch of Zheshang Bank in Beijing told reporters that customers can purchase ultra-long-term special treasury bonds in 2024 (first phase) through mobile bank App, with an interest rate of 2.57%, with a maturity of 30 years, starting at 100 yuan, with a risk rating of R2. The purchase time is the same as that of China Merchants Bank, which is also limited to May 20, 10, 00, 15, 15, 30.
Daxing has not taken action yet. After seeking confirmation from the staff of a number of large state-owned banks in Beijing today, the reporter learned that at present, he has not received the relevant notice of the sale of ultra-long-term special treasury bonds to individual investors.
"at present, we have been informed that the counter will not participate in the sale of 30-year special treasury bonds for the time being." The staff of a branch of the Construction Bank said.
"the current 30-year ultra-long-term special treasury bonds are sold only to financial institutions in the over-the-counter market for the time being." An ICBC financial manager told reporters that it is necessary to wait for relevant notice when to sell to individual customers.
Ultra-long-term special treasury bonds landed
Recently, ultra-long-term special treasury bonds have aroused widespread concern.
On May 13, the Ministry of Finance announced the arrangements for the issuance of ultra-long-term special treasury bonds this year. On the 17th, 30-year ultra-long-term special treasury bonds were officially issued. The bidding for the issue shows that the coupon rate of the bonds is 2.57%, and the issuance volume is 40 billion yuan. The bidding ended on May 20 for distribution and listed for trading on May 22.
In addition, according to the Q & An on the purchase of treasury bonds by individual investors issued by the Ministry of Finance on the 17th, the ultra-long-term special treasury bonds issued this year are bookkeeping treasury bonds, with three maturity varieties of 20 years, 30 years, and 50 years, and the specific purchase operation shall be handled according to the bookkeeping treasury bond purchase process.
In the primary market, bookkeeping treasury bonds are issued mainly to institutional investors through bookkeeping underwriting syndicates, and claims are recorded electronically at the Central Clearing Company, the Ministry of Finance said. After listing, individual investors can also buy from institutional investors in the secondary market.
The Ministry of Finance further said that when individual investors buy bookkeeping treasury bonds, they can open personal bond accounts and capital accounts in advance through any counter, online bank or mobile bank of the counter business of the national interbank bond market, and open bookkeeping treasury bond trading business.9stackspokerIt is also possible to open an ordinary A-share securities account and a capital account with a securities company in advance.
It is necessary to pay close attention to the price fluctuation after listing.
For ordinary investors, the attractiveness of the first 30-year special treasury bonds remains to be seen.
The CICC fixed income research team previously said in a research report that under the background of guiding deposit interest rates down and preventing high interest rates from attracting deposits, the scale of household and corporate deposits continued to fall, and the attractiveness of ultra-long bonds with relatively higher yields to individual investors may rise.
However, from the reporter's observation, individual investors have not yet shown obvious enthusiasm for ultra-long-term special treasury bonds.
"the term is too long, from the current point of view, it is generally attractive to customers." The above-mentioned China Merchants Bank staff told reporters that only one customer came to buy this morning, and the number of consultants was also very few. The staff of a branch of the Agricultural Bank of China also said that there are no customers to consult at present.
Some market participants have suggested that individual investors should pay close attention to the price fluctuations after the listing of ultra-long-term special treasury bonds.
The Ministry of Finance pointed out that the trading price of bookkeeping treasury bonds fluctuates with the market situation, and investors may gain trading gains due to rising prices or face the risk of losses due to falling prices. Therefore, the individual investors of bookkeeping treasury bonds who do not hold maturity but take profits from transactions should have certain investment experience and risk-bearing ability.
Wang Yifeng, chief financial analyst at Everbright Securities (activist), said that ultra-long bonds have higher coupon rates, greater price volatility and lower liquidity than short-term varieties. For individual investors, the allocation process should be combined with their own risk preference, investment duration, income targets and other factors. In addition, individual investors may need to allocate ultra-long-term treasury bonds through specific products.
A number of market participants suggested that the third quarter ultra-long-term special treasury bonds superimposed local government bonds and the intensive issuance of new special bonds may disturb the liquidity of the bond market. In addition, recently, the central bank has repeatedly warned that long-end interest rate risks and stable real estate policies continue to increase, it is expected that the upward range of interest rates may be limited and slow, bond market investment still needs to be cautious.