The Sino-Singapore Jingwei client April 7th, the era of telegram earning is over! Market liquidity continues to be loose, and money fund yields continue to decline. According to Alipay data, as of April 6, Tianhong Yuebao Money Market Fund's annualized return on the 7th was 1.9780%, which fell below 2% for the first time since its establishment in 2013.
Alipay screenshot
According to public information, with the marketization of interest rates and the adjustment of monetary policy, the yield of the cargo base has been in a downward channel in recent years. According to WIND data, as of April 6, of the 667 traditional cargo bases, the number of funds with annualized returns of less than 2% on the 7th was 335, and currently only 13 cargo bases have a return of more than 3%.
WIND screenshot
Information shows that Tianhong Yu'ebao was launched in 2013, and its annualized return on 7 days exceeded 6%. Since then, the yield has fluctuated downward: from 2015 to 2016, it fell to around 2.3%, and in 2017 it rose again to more than 4%; in 2018, it continued to decline from 4.3%-3%, 2.5%, 2.3%, and successively broke the position.
Netizen message screenshot
Regarding Tianhong Yuebao's 7th annualized return rate of the first break 2%, some netizens said: pork can not run.
Huatai Securities report screenshot
Huatai Securities pointed out that the current 7-year annualized interest rate of the cargo base is around 2%, which is already close to the upper limit of the one-year time deposit interest rate (up 40%). If the cargo base interest rate falls further, it is expected to alleviate the deposit moving effect. Superimposing administrative measures such as the central bank's crackdown on high-interest deposits and other deposits eventually pushed down the interest rates of large deposit certificates and structured deposits. (Sino-Singapore Jingwei app)