Affected by Tuesday's rise in yields, Yu'e Bao's seven-day annualized yield also rose slightly. ←

Compared with other money market funds and wealth management products, Yu Yu Bao can see how much money it has earned every day, which is also a place that attracts people.

What's more, calculated that the interest of Yu'e Bao is indeed higher than that of the bank.

As for the risk, my husband also explained that it is to buy treasury bonds and lend them to the bank, and if there is a problem with lending to the bank, then they will also have a problem with depositing in the bank.

After seeing the seven-day annualized rate of return of Yu Bao rise, more people have joined the ranks of Yu Bao .

Affected by the large outflow of funds, the overnight lending rate of banks soared again on Wednesday.

Not only were the banks busy borrowing money from everywhere, but the money market fund also collapsed.

Because the yield of money market funds is low, and it takes one or two working days to redeem, the income obtained by individual investment is not much higher than that of banks, and it takes one or two working days to wait, so individual investors are not very interested in money market funds, and the main investors are still large institutions.

Individuals cannot participate in the interbank market, but a considerable number of large institutions can, but in the past, the overnight lending rate of banks was not high, so they preferred to invest in money market funds.

But the soaring interest rates in the interbank market have tempted these institutions to redeem their funds from money market funds and prepare to lend money to banks.

There are also many people who buy money market funds who see the income of Yu Yu Bao rising, and they also redeem the money market funds they bought before and switch to Yu Yu Bao.

In the face of a large number of redemptions, money market funds can only sell the fund's investment bonds, fortunately, the China AMC cash money market fund linked to Yu Bao has been taking over, otherwise other money market funds may be difficult to cash.

But selling early obviously drives down prices, and many money market funds are losing money.

The entire financial circle in China is in chaos.

Previously, the regulator approved the redemption of T+O by the China AMC Money Market Fund, and many institutions predicted that it would cause a shock in the financial industry, but no one expected it to come so violently.

The deep-pocketed ICBC was the first to react by ordering its branches to stop accepting agreement deposits from the money market fund.

"ICBC blocked Yu Bao. Agreement deposits of money market funds are no longer accepted. ”

On Wednesday afternoon, the news spread on the Internet, causing heated discussions on the Internet.

Some industry insiders also explained to netizens what an agreement deposit is.

Agreement deposits are deposits with interest rates and maturities agreed upon by institutions and banks with large amounts of funds, and agreement deposits of money market funds belong to the category of interbank deposits, that is to say, banks do not need to pay deposit reserves to the central bank after obtaining the deposits of money market funds, and can be used for loans or investments.

Money market funds, on the other hand, have access to higher interest rates and enjoy the benefit of no penalty.

For example, the money market fund and the bank agree to deposit for 1 year, and the interest rate is 5%, but when it is 7 months, the money market fund must be withdrawn in advance. The bank will not reduce the interest to the interest on current savings, of course, only at the interest rate of 5% for seven months.

If it is an ordinary person's deposit, if it is withdrawn in advance, the interest will definitely be punished to the current interest rate of o.36%.

Benefiting from Wang Zixuan's influence, many people only learned in the past few days that the original bank deposit interest is not the same.

Yu Bao now undoubtedly represents the interests of the grassroots, seeing that just three days ago, ICBC banned Yu Bao, and netizens scolded ICBC on the Internet.

Many netizens who originally thought that Yu'e Bao was not attractive also expressed that they wanted to transfer their deposits to Yu'e Bao, especially the deposits of ICBC.

These days. Wang Zixuan stayed in the capital, ready to solve the micro at any time. Letters, Yu Bao may lead to problems.

Wang Zixuan did not let the situation continue to unfold, and soon after the news spread, he put a scarf: "The agreement deposit is originally a matter of your affection and willingness, and ICBC has abundant sources of funds." It is also a market behavior that the demand for agreement deposits is small, and the agreement deposits with high interest rates are not accepted. Yu Bao's investment in ICBC is very small. ICBC's failure to accept money market fund agreement deposits will not affect the operation of Yu'e Bao. ”

After seeing Wang Zixuan's scarf, some netizens who were a little worried about Yu Bao were also relieved.

Many people continue to join the ranks of Yue Bao users.

On Wednesday afternoon, Prince Technology announced for the first time that the micro. The number of users of the letter. The global user base has exceeded 500 million, and the domestic user has exceeded 40 million. The letter expands faster than the AP.

This number once again shocked Europe and the United States.

Compared to AP. Small. The social function of the letter is stronger and the value is higher.

In media interviews, some people on Wall Street have given micro. The valuation of more than $2oo million is close to the valuation of Facebook.

However, the most concerned thing in China is the dispute between Yu Yu Bao and the bank.

Although Wang Zixuan scarred and said that the agreement deposit is a matter of your willingness, it still caused a lot of controversy.

Among them, Niu Wen, the executive editor-in-chief and commentator of CCTV Securities Information Channel, has the most intense blog post, and the title in front of his name is also the most eye-catching.

"Yu Bao has impacted the financing cost of the entire Chinese society, and the economic security of the entire Chinese society.

When Yu'e Bao and its front-end money market fund put 1% of the income into their own pockets, and distribute about 3% of the income to thousands of Yu'e Bao customers, the entire real economy of China, that is, the final loan customers, will become the final buyers of this cost.

Yu Yu Bao is a vampire lying on the bank, a typical financial parasite.

They do not create value, but rather raise the economic costs of the whole society and profit from it. Tongguò conveys a small profit to the public, earns itself a huge profit, and at the same time makes the whole society pay for it.

Specifically, we assume that the average income of Yu'e Bao 2ooo billion yuan is 4%, the profit is 8 billion yuan, Yu'e Bao and the money market fund will swallow about 2 billion yuan (2% of 4ooo yuan), and other Yu'e Bao customers will share 6 billion yuan.

We all accuse commercial banks of profiteering, but after all, banks only obtain risk returns after operating loan risks; But Yu Bao? They can take 2o billion yuan from the 8o billion yuan of income when they fall asleep, and the risk is less than robbery, isn't this a huge profit? I think it's more like "violence".

I am certainly against bank profiteering, but to eliminate bank profiteering must be to return it to Chinese industrial enterprises, not to financial parasites.

I think that for any market economy, for any financial regulator who still has some IQ, it should be clear that Yu Yu Bao should be suppressed.

Because it interferes with the interest rate market, interferes with bank liquidity, and raises the financing costs of industrial enterprises, thereby exacerbating the vicious circle between finance and industry, and threatening China's financial and economic security.

There is no doubt that my proposal is to ban Yu Bao and return China to a normal financial order. (To be continued!)

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