Continue to favor the financiers,
which gold master directly smashed?
After the central bank governor Yi Gang stated that he wanted to come up with real money to support the development of private enterprises, the China Insurance Regulatory Commission proposed to send “timely rain” to private enterprises: after three years, the banking industry’s loans to private enterprises accounted for new companies. The proportion of loans is not less than 50%!
In fact, in the private listed companies have been too optimistic in the past few years, lending too much money to expand, but also caught up with the lack of economic growth, the deterioration of the foreign trade environment, and a series of de-leverage policies This has led to the current depletion of liquidity. In his speech, Yi Gang also said that the crux of the problem is very clear: that is, the policies of various tightening are superimposed on each other, and the situation faced by enterprises is doubled. This principle is very understandable. Ten financial departments require the lender to return the loan in advance in order to complete the delevering requirement. The lender is allotted the loan, and the liquidity is quickly exhausted. Except for selling assets, there is no such thing. way.
Now that we know that the superposition effect of the policy is almost exponential, why is there a big superposition of water now? In the case of local governments to solve the problem of funds and brokers to solve the problem of relief funds, of course, there are insurance and trust institutions to pay for this business, and now the bank seems to have to release water.
I really knew this, why should I be at the beginning? When the newly-invested new regulations solicited opinions, everyone responded that the deleveraging was too urgent, and did not listen, not to say that everyone did not understand the situation and did not consider the issue in the overall situation. Ok, this is only less than ten months after it has been in force, and it’s anxious to turn around and think about how to put leverage. The latest news is: The National Council will ask for increased financial support to solve the problem of financing difficulties and financing for SMEs, and at the same time decide to expand the MLF qualified guarantee standard! One of the most important points came: Strive to reduce the average lending rate of small and micro enterprises newly issued by financial institutions in the fourth quarter by one percentage point from the first quarter!
Do you know which gold master is directly smashed? It is the bank! Deposit interest can not be reduced, the new small micro-loan income will be reduced by one percentage point! Because of the high operational risks of small and micro enterprises, the original loan is more expensive to make up for the cost. Now, the good quality loan that has just been recovered must be released with greater risk and low profit!
It is estimated that the lever that has just been recovered is really embarrassing and chasing others, and then the new small and micro enterprises are really afraid to lend. The result can only be a mad purchase of government bonds. Today, I took a glance. The local government’s platform debt actually had 50 times of subscription, and the crazy energy came up again. The paradise of financiers is coming again.
Then, the CSRC, which has always said that it wants to protect the interests of investors, has also joined in the fun of superimposing the policy: once again raising the high-handedness to the financing side: following the previous period of shortening the IPO by the company’s backdoor listing from three years to six months, it is necessary to actively launch The registration system was used to create a board, and then announced today: Allowing the basic use of the previous fundraising or the raised funds to be invested in a listed company that has not changed and invested as planned, applying for additional issuance, allotment, and non-public offering of shares for 18 months. Financing interval limit! But in principle it must be no less than 6 months!
Today's investors can't stand up to the financing interval of 18 months. Not to mention that they have fallen from 5178 points to 2499 points. This year, the Shanghai Composite Index has also fallen by about 28%! How many stock market values have already been swayed, and the refinancing interval has to be relaxed. The financing speed will not be reduced, but it will be 3 times faster! ?
How much has the Chinese stock market melted in the past 20 years? But why is the more money invested, the more money the company lacks? Companies that require financing are available every week, but are dividend-paying companies available every week? How many companies can make investors feel that investment is rewarding? Is the enterprise worth investing? We always say that good companies have gone abroad. In fact, this is the biggest lie. We are really reserved for A-shares, but our A-shares have evolved into the ultimate goal of business management. As long as we go public, we think about how to cash out. Now! Our supervision has not been placed on the company's sincere intention to benefit, but to allow listed companies to make financial fraud, and to speculate on high stocks to go away!
Looking at today's falling list, has the gold master already taken the lead?
(Data source is flush, the same below)
Everyone can look at it carefully. The two major sectors of the banking and insurance sectors are not only the bosses, but also the most powerful ones. 28 banks and 7 insurance companies have not risen today!
Looking at the rating B, the performance is more obvious.
Ten rating B funds with the biggest decline today：
Financial land B directly falls, of course, its trading volume is too small, perhaps not representative. In addition, the rating B of several banking classes has also fallen by more than 5%. Originally, the bank was the lowest valuation sector, and the relative dividends were relatively high. The design level B was a very good product. I did not expect that as long as the policy is in place, it can fall into the forefront of the decline list! There are not a few banks with a large volume of transactions below, and the declines are all above 4.5%.
Even the bank ETFs fell by 3% and fell to a discount. This shows that experienced investors have long been unaware of the banking sector.