Wall Street, New York.

As a member of Wells Fargo, every day is full and busy.

From getting up in the morning to catch the subway to work, to leaving after nightfall, it is the most common normal part of work.

Don't say that foreigners don't work overtime, those are just losers, who get a meager salary every day, and live his 9-to-5, inactive, year after year life.

There is no real elite who does not work overtime, and for them work is a part of life.

People only see them flying planes, yachts, and mansions when they go on vacation, but they never think about what they pay for it.

Just as recently there was a new business in Wells Fargo, for which all employee leave was canceled, but no one will complain.

Wall Street has had a frenzied overtime culture since its heyday, with regular daily hours not being exchanged for high-paying jobs and good incomes.

Newcomers to the industry basically have to maintain a workload of more than 15 hours a day in order not to be eliminated by the job or harder colleagues.

Moreover, there are a large number of elites out there who lost their jobs in the Great Depression, waving their resumes in the hope of getting a job on Wall Street again.

Don't work overtime?get out.

"Ma'am, this is the issuance of new FCA bonds. The secretary placed the new proposal on Julie's desk.

"What is the current FCA debt ratio?" said Julie, without looking up.

Julie is very optimistic about Chrysler's plan to issue bonds again to seek to expand production and occupy market share.

As one of the three giants in the U.S. auto sector, Chrysler never had to worry about sales when it issued new shares and bonds.

It's just that this is not the same as in the past, and now it is no longer the roaring 20s, and people's blind follow-up to the financial market will not appear again in the short term.

Chrysler's issuance of new debt this time has put forward an underwriting requirement for rich countries, which has increased the risks and pressures of rich countries.

Chrysler is normal to be worried about this, their recent financial statements are very ugly, losing money for five quarters in a row, how to keep investors confident.

This is not the era of the Internet, everyone is looking at the future compared to the debt.

In this era, five consecutive quarters of losses can make a large company abandon all investors.

This is also put on Chrysler, if it were other companies, it would probably have gone bankrupt, and what kind of bond underwriting would it be.

Responsible for underwriting, although it seems that it has nothing to do with Wells Fargo, but in fact, in the eyes of people, Wells Fargo has become a representative of the issuer in disguise from an independent third party.

If the bonds recommended by them cause creditors to lose their investment, the reputation of rich countries will also suffer.

Underwriting also has its advantages, they can get 2 points in terms of fees.

The higher the total value of the bonds issued, the lower the fee ratio.

Like large enterprises, national bonds, and city bonds, there are generally large-scale bidding meetings, and whoever has the lowest price will be handed over to underwriting.

The advantage of this is that there are more choices, and you can get the actual benefits, and the cost is less, and the disadvantages are the extension and instability of the cycle.

"At present, the FCA's debt ratio is 57%, and the evaluation given by the risk control department is B. The secretary said respectfully.

b, there is a small amount of risk factors, comprehensive good assets, except for market factors or customer subjective information deception, the security is higher than 65%.

70 percent, in terms of financial markets, is only one level worse than 100%.

"Getting everyone moving, getting the required materials and reports done as quickly as possible, this is the first battle... We're going to play nicely. "Julie is very serious about this release.

Whether the rich countries can be recognized and gain a firm foothold in the investment field depends on whether they can complete the FCA's bond underwriting business beautifully this time.

In Julie's opinion, the best outcome is to sell out all the bonds during the issuance period, and it is best to not let the rich country take any risks.

But if it doesn't, Wells Fargo will have to buy the remaining unsold bonds at the end of the issuance period and sell them to new buyers or hold them themselves.

At the same time, Julie also wanted to satisfy Chrysler, and Manhattan Chase was right to hand over the client to them.

But whether it can be maintained, and for how long, depends on the ability of rich countries.

Don't think you just have to do a good job!

In order to satisfy the father of the gold owner, Fu Guo sent six people to be responsible for accompanying the shareholders' daughters and sons to walk, shop, and buy everywhere.

Chrysler will issue $200 million in bonds with a maturity of two years, with interest payments made in a lump sum at maturity and a lump sum settlement at maturity.

The handling fee of Wells Fargo is 24 million, which is a very objective income.

But in fact, the benefits they get are much more than that, knowing that the issuance takes a certain amount of time, and the payment funds will be frozen before the amount reaches the predetermined amount.

These funds are frozen at Manhattan Chase,' and the bond issuance cycle is generally 12-14 weeks, about three and a half months.

In other words, during this period, Manhattan Chase will have a total of $200 million in additional funds.

Maybe it's only tens of millions in the early stage, or maybe it's just about to end the issuance period.

But even if it is tens of millions, it can create a lot of benefits for Chase in three months.

Of course, this money is also to be paid for benefits.

The cost of issuing corporate bonds is paid with the interest generated by the frozen funds during the issuance period.

Under a series of measures such as Roosevelt's ban on gold exports, the issuance of treasury bonds to provide loans to enterprises, and the depreciation of the currency to enhance export competitiveness, the economy is growing rapidly.

The Fed's interest rate fell back to 2 percent from 3.6 percent previously.

The savings bank, which is still in the direction of dividing its business and seizing the market, has set a current interest rate of 2.8 percent per annum.

If the issuance cost of a financial bond is less than the interest income generated by the frozen funds during the issuance period, the difference is regarded as the premium income of the issued bonds.

If the interest generated from the frozen funds during the issuance period is insufficient to cover the issuance costs, the difference is small and directly included in the current profit or loss.

That is to say, if there is more interest, even if it is the issuance premium income, if the company needs to discount the money, it will be directly included in the company's payment, and the profit and loss will be calculated at the end of the year.

4 million for 200 million, whether the interest is enough is very cost-effective for enterprises.

In short, bonds are a very troublesome thing, and they are far more complex than the stock market, not to mention the so-called 'portfolio bonds'. ’

Portfolio financial products can be so complex that even people in the industry can't understand, 'What the hell is this?'

If you want to play the bond market well, you must not only have a good brain, but also have a good enough team.

Otherwise, even if you are a god, you will have to lose money in the bond market.