Macro price and money market review. This week (March 7, 2022 – March 13, 2022, the same below), the central bank’s open market reverse repo of 380 billion yuan expired, and the central bank’s open market reverse repo invested 50 billion yuan, realizing a net return of 330 billion yuan. For the whole week, the overnight, 7-day, 14 day, 21 day and one month inter-bank pledge repo interest rates in the inter-bank market changed by -0.289bp, 7.769bp, 5.3300bp, 18.92bp and 5.390bp to 2.0746%, 2.1624%, 2.2469%, 2.4026% and 2.4874% respectively.
Weekly asset performance review: in China’s equity market, this week, the CSI 300, CSI 500, SSE 50, gem and Kechuang 50 index rose or fell by – 4.22%, – 4.85%, – 4.14%, – 3.03% and – 3.48% respectively. In terms of style, CITIC finance, cycle, consumption, growth and stability index rose or fell by – 5.11%, – 4.47%, – 3.18%, – 3.66% and – 3.76% respectively this week. In terms of industries, the top five shenwanyi industries with yield this week are comprehensive, power equipment, food and beverage, medicine and biology and architectural decoration, with yield of – 0.08%, – 0.56%, – 2.06%, – 2.07% and – 2.54% respectively; The shenwanyi industries with the lowest yield are steel, petroleum and petrochemical, non-ferrous metals, household appliances and social services, with the yield of – 6.13%, – 6.99%, – 7.03%, – 7.54% and – 7.91% respectively.
In terms of overseas stock indexes, this week, the Nasdaq, S & P 500, Dow Jones industrial, Nikkei 225, France CAC40, UK FTSE 100 and Germany DAX index rose or fell by – 2.88%, – 1.99%, – 3.17%, – 3.53% and 2.41%, 4.07% and 3.28% respectively
The U.S. market, the U.S. market, from high to low this week, ranked energy, utilities, materials, real estate, finance, industry, optional consumption, medical treatment, communication, information technology and essential consumption. The CSI convertible bond index fell 3.18% this week. In terms of valuation, the weighted conversion premium rate, arithmetic average conversion premium rate, weighted implied volatility and arithmetic average implied volatility of convertible bonds changed by 1.642%, 0.26%, 0.38% and – 0.094% (absolute level) to 36.84%, 38.32%, 26.86% and 34.71% respectively.
Weekly fund strategy evaluation: this week, the yield ranking of various types of funds is stock long and short funds, pure debt funds, primary debt funds, partial debt hybrid funds, secondary debt funds, flexible allocation funds, balanced hybrid funds, stock funds, partial equity hybrid funds and index enhanced funds.
This week’s simulated portfolio: mixed strategy balanced portfolio has position adjustment operation in this period.
Risk tips: the economic impact of covid-19 virus variants exceeded expectations; The policy is not as expected; All assets allocated in the balanced portfolio of mixed strategies (including but not limited to convertible bonds, stocks, indexes, etc.) do not constitute investment purchase suggestions.
