Can convertible bonds really make money?
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Source: Wind Information The A-share market has been hotly opened since December last year, and convertible bonds are not far behind, and the upside is strong.
The new income from convertible bonds is still higher and is favored by investors.
The issue of convertible bonds has been hot since the New Year’s Day, and new convertible bonds have been launched on the Internet. Wind data shows that 5 have completed the purchase.
According to the online issuance date, 128 convertible bonds were issued last year, raising a total of 2689 funds.
7.9 billion yuan, a record high.
This is also the first time that the number of publicly issued convertible bonds has exceeded 100, compared with 67 issued in 2018 and financing 787.
500 million showed outstanding growth.
It is worth mentioning that the scale of issuance in 2019 even exceeded the total of the previous five years.
2020 has just begun, and 5 convertible bonds have now raised funds61.
If the issuance is maintained at a certain speed in the later period, the number and scale of convertible bonds this year may not be small.
However, with the relaxation of the fixed increase policy, the issuance of convertible bonds is expected to improve as early as 2019.
However, convertible bonds will not be completely replaced by a fixed increase, and its characteristics determine that the supply and demand for such assets in the market will still exist.
The growth of convertible bonds is booming. The recent strong growth of the stock market has also led to the overall upward trend in convertible bonds.
Wind data shows that the CSI convertible bond index has started a continuous growth trend since it bottomed out in early December, and the current gradual growth has gradually reached 6.
65%, in parallel with the Shanghai Composite Index, the growth is not worse than the stock.
The specific performance of the convertible bonds and corresponding underlying stocks has shown that wind data shows that the conversion to convertible bonds has continued to be listed and delisted. At present, there are 202 publicly-funded convertible bonds and normal transactions of their underlying shares.The comparison between convertible bonds and stocks is as follows: 1) In terms of convertible bonds: 202 convertible bonds that are normally traded have increased by 200, accounting for 99%.
Among them, the most active long letter convertible bonds increased by 47.
74% is far ahead, followed closely by four funds including Changqi Convertible Bonds and Youzu 深圳桑拿网 Convertible Bonds, all of which have grown more than 30%.
In this hot market, only Shenglu Convertible Bonds and Wanxin Zhuan 2 have fallen slightly, highlighting that convertible bonds are one of the best investment types.
2) In terms of stocks: the stock index continued to rise to record highs, and the stocks were naturally very popular.
Among them, there are 191 stocks that have risen, and they have almost achieved general rise.
The top performer of the main stock is Youzu Network, which rose to 79.
In addition, 21 companies such as Taijing Technology and Changshu Auto Decoration have performed well, and their progress has exceeded 30%.
However, in this round of hot market, there were also 11 declines. It can be seen that stocks fluctuate and gains are high, but the risks are also large.
The new enthusiasm has increased, and the winning rate has increased to the first day of the new convertible bonds listed earlier this year, all achieved substantial growth, and they all exceeded 10%.
Among them, Mingyang Convertible Bonds, Gold Convertible Bonds and Eagle 19 Convertible Bonds all increased significantly by more than 20% on the first day of listing.
Therefore, it has recently attracted more new investors. According to Wind data, according to the number of valid online subscriptions, on January 2 this year, the effective subscription of Huantai Convertible Bonds reached 197.
960,000 households, nearly 2 million households, became a recognized new high.
Among the convertible bonds that announced the number of valid subscriptions, in the past year, 17 online valid subscriptions have exceeded 1 million.
Driven by the money-making effect, the number of online purchasers has jumped since New Year’s Day, which was 173 at the peak in December 2019.
04 million households, an increase of more than 14%, showing the popularity of new.
Although the return rate after winning the lottery is high, but there are many purchasers of cocoa convertible bonds, and even the top box hits a new one, and the lottery rate is still acceptable.
Wind data show that the success rate of each cocoa convertible bond this year has decreased, especially Xintian Convertible Bonds, Huantai Convertible Bonds and Kairun Convertible Bonds.
1%, that is, the top grid does not necessarily win a number.
However, with a large number of issuances and perseverance, the chances of winning are not small, and steady returns should not be missed.
Don’t lose money? Convertible bonds are hot now, and Big Multimedia is proclaiming that it has a guaranteed bottom and no ceiling.
How can there be such a good thing in the world!
There are at least two facts that can lose money.
(1) On the day of listing, it broke below the face value of 100 yuan, which means a break!
This probability is relatively small, but it still exists.
The fact that there were relatively few breakouts on the first day of listing was relatively rare, but by 2018-19, it was transformed into the expansion of the debt market and the stock market turmoil, and the breakout was once normal.
(2) There is no break in the market, but you did not sell, and then fell below 100.
According to the guarantee, to achieve this, the following three conditions need to be met at the same time: (1) cheaper to buy.
Either the purchase price fell below 100 yuan of convertible bonds, or the newly issued convertible bonds (price of 100 yuan); especially the newly listed convertible bonds, be careful to chase the first day of listing and be buried.
(2) Must be held to maturity, there may be losses and profits in the middle; (3) The issuer of convertible bonds does not default!
When some media promoted convertible bonds to new high yields to retail investors, nobody seemed to pay attention to various terms such as renegotiation, resale, forced redemption, etc., and it was irrational to highlight the steady gains.