If you use your power to suppress people, I will hurt people with my own strength, this is Lei Hao's approach. Pen, fun, pavilion www. biquge。 info

The target bonds of the foreign exchange business are Thai three-year and five-year treasury bonds, the numbers are 03XX01 to 03XX13 and 05XX01 to 05XX09, 03 and 05 represent three-year and five-year tenors, XX represents the year, and the following 01-13 and 01-09 represent tenors 1 to 13 and 1 to 9.

Thailand's three-year treasury bonds, there are currently 13 kinds of circulation, and there are 9 kinds of five-year bonds, each of which has a different price, Lei Hao's approach is to pull up 20 points, 0.2 baht per point, that is, to pull up 4 baht to absorb chips, just offset the 20 points in the option contract.

The option contract signed by CCB's Foreign Exchange and Fixed Income Department stipulates that if the option is exercised, the bond price will not be exercised at a certain instantaneous price, but at the average price of the day.

This is a common technique in the financial circle, for example, a price is issued every five minutes, and after the average weight is calculated, the number obtained is not the closing price or the price of a certain denominator, but the resulting number will reflect the average weight price of the day.

In other words, the Thunder will ensure that the bond price fluctuates in a specified range around the clock, raising the price by about 4 baht, and if Zhao Weihua exercises his rights, the price is inflated, and he is not happy to get 20 points below the inflated price.

But the bait that Lei Hao used to fish is the expectation of interest rate cuts and the expectation of inflation inflation rate, as long as the former is determined and the latter is low, the bond market is promising, and 20 points is nothing.

If the analysis is not proper, then ...... Thunder is following this method anyway, looking for the next time to fish.

There are also disadvantages of this, that is, it exerts huge pressure on the rhythm of arbitrage in the fixed income department, and it can be said that it is difficult for Xia Yibei to carry out high-frequency and technical operations in the case of inflated points.

Yanjing, CCB, Remittance and Savings Business Department.

Zhao Weihua, who has returned to the head office, is not at all as comfortable as some time ago, but has a sense of trembling in his heart.

Logically speaking, Thunder is a provocation to the entire bond market by inflating bond prices, and even the small Thai government bond market has a total of tens of billions of dollars, but the price paid by Thunder is not high.

The whole market seemed to be blind, and all the bond holders were collectively silent, they didn't want to face the thunder because of the 5 baht spread, they seemed to be trembling under the roar of the thunder.

No major institutions have started the work of clearing their bond holdings, there is no capital to enter the short sale, and when the Thai stock market and foreign exchange market began to fluctuate, institutional investors collectively ignored Thunder's "small" manipulation in the bond market.

"Thunder's prestige in the international market." Zhao Weihua's trembling feeling in his heart was even stronger, and he knew why.

No institution dared to confront Lei Hao because of the small bond market, HSBC, Keda and other institutions replaced their chips, and stood firm on the sidelines, while local financial institutions such as Siam and Taijing were silent, giving Thunder enough concessions, they did not want to enter the bond market.

After all, the difference between 20 points and 5 baht is too small, if the operator is not Thunder, everyone is still a little interested in making some extra money, but that is Lei Hao, Lei Hao, who has just beaten the North American capital forces in the Korean market, is a small pond like Thai treasury bonds, and he wants to play with him.

Lei Hao seemed to swagger into someone else's territory, and said that he would lend me the place first, and then everyone would be very face-saving and enter the spectator mode, and he stood there and began to wave to the CCB foreign exchange and savings business department.

"But that's what we're hoping for, isn't it?" Zhao Weihua's perception of Lei Hao is very complicated, but there is a fire slowly burning in his heart.

If, under such circumstances, he can win the Thunder on behalf of a state-owned institution, Zhao Weihua feels exciting to think about it, and he will become a star-level figure within the bank, and he can earn all his face and inside.

"Xiao Zhao, don't be pressured, the worst result is just to let Thunder get the same status as us to cooperate with the qualifications, and it is temporary, you have to remember that we are China Construction Bank! Don't be stressed. Zhao Weihua's boss also had time to look at this small hedge.

In terms of profits, in fact, the two sides are only competing for millions of dollars, but in fact, they are actually exploring a mode of cooperation between state-owned financial institutions and private financial institutions after the financial market is being explored.

Thunder is a special case, and Lei Hao is also a special case, but what Thunder has done and Lei Hao has done means that private financial institutions may also do it, and no matter how bad it is, it can be achieved by gathering under the banner of Thunder.

You take the difference of 20 points, you take the option, you have to let us see, you have the ability, you have to show us that these terms are necessary, if it doesn't work, then you can continue to take it, but do you have the face to take it?

If Thunder is a hospital, the CCB Foreign Exchange and Savings Business Department is equivalent to saying hello in advance, letting Thunder stay in a delivery room, and then ...... You're giving birth, if it's diarrhea, what kind of delivery room do you want?

This is a point of Lei Hao's calculation, he can give up profit margins, but the other option contract will become a slap in the face in front of the CCB foreign exchange and storage business department, which may be called down at any time.

"Active and passive can switch directions at any time, and the financial market is really a wonderful place." Zhao Weihua slowly stabilized his mind, opened the documents and materials sent by his subordinates, carefully read and analyzed them, and then began to call and communicate with various institutions and relevant personnel.

"Compared with the understanding of the bond market, CCB will not lose to the Thunder! And we have the strength to influence the attitude of the Thai authorities, as long as ...... The timing is right! Zhao Weihua felt a strong fighting spirit rise in his heart.

In Shanghai, Lei Hao took advantage of this incident to avoid some entertainment, and stayed in the Thunder Shanghai branch, not wanting to go anywhere, compared to some trivial things in life, he prefers to spend his time in the financial field.

Now Lei Hao has a tacit understanding with Qiu Yuting, he will not devote all his energy to official affairs, and Qiu Yuting will not bother him with those little things, the two are like early love students, using study as an excuse to avoid most of the trivial matters.

However, Lei Ting's participation in the remittance and savings business will indeed usher in a critical point in time at any time, and one thing is very clear within the group: Lei Hao has been seducing CCB to exercise its rights.

This shows that Lei Hao is bearish on the future of the bond market.

From past experience, this year's global financial market should have a slight year-end effect, and institutions have been recovering funds and selling various chips.

The great thing about Thunder is that their fund has no worries about being redeemed at all, and the gorgeous profit data on the books makes them not have to worry about recovering funds.

It is precisely because of the year-end effect that there may be a January effect, whether it is Lei Hao or others, they believe that all markets, including Thailand, will release the direction of the year's development at the end of December and early January, such as whether the Bank of Thailand really wants to lower the bank's benchmark interest rate.

On December 20, Wednesday evening, Thunder received a notice that the other party would exercise the rights at today's average price.