However, when Yu 'ebao's income fell below 2%, the so-called "investors" who were as insensitive as the ring were still shocked. The low income of Yu 'ebao not only means that financial management is meaningless, but also marks the arrival of a new cycle in the property market.
According to Alipay data, as of April 6th, the annualized rate of return of Tian Hong Yu 'ebao Market Fund on the 7th was 1.978%, which fell below 2% for the first time since the establishment of 20 13.
It's not just the decline in Yu 'ebao's income. Wind data shows that as of April 3rd, the average 7-day annualized rate of return of 667 traditional money funds is 1.98%.
Behind the money fund's yield falling below 2%, many countries have introduced monetary easing measures to alleviate this global crisis. As the market liquidity continues to be loose, the yield of goods-based funds continues to decline.
Domestically, on March 30th, the Economic and Financial Outlook Report for the Second Quarter of 2020 issued by China Banking Research Institute held that in the first quarter, the sharp drop in commodity prices and the violent turmoil in the financial market had a great impact on the economic operation, and China's economy was suffering the most serious impact since the reform and opening up, with a rare negative GDP growth. Looking forward to the second quarter, China's economy will continue to face multiple pressures due to the risk of epidemic "backward flow", and GDP is expected to resume positive growth (about 3%) in the second quarter.
Therefore, since 2020, the central bank has lowered the RRR three times, releasing long-term funds of 1.75 trillion yuan. In addition, the two interest rate cuts totaled 30 basis points. In the long run, the number of deficit ratio in China will increase, special government bonds will be issued to deal with the epidemic, and local special bonds will be issued, which may lower the deposit interest rate in the future.
In America, floods are more intense. In March, the Federal Reserve cut interest rates twice in "extraordinary meetings", and the interest rate dropped by 150 basis points, approaching zero interest rate. In addition, the fiscal stimulus policy of $2.2 trillion is superimposed on the monetary policy, and the accumulated water release is $6.2 trillion.
In addition, the communiqué of the G20 Summit stated that the G20 will launch an economic plan with a total value of US$ 5 trillion to cope with the negative impact of the epidemic on the global society, economy and finance, and support central banks to take measures to promote financial stability and enhance global market liquidity.
In order to counter the strong shock wave brought by this special period, many support policies on the property market have been intensively introduced.
According to the statistics of RealData, the national real estate-related policies have reached 307 times this year, and these policies exert their strength in both supply and demand.
Supply-side policies mainly include postponing or paying the land transfer fee in installments, postponing the completion, adjusting the pre-sale conditions of commercial housing, and adjusting the proportion of bid bond for land transfer to help enterprises get out of trouble, such as the new land policy issued by Shanghai, Xi, Wuxi, Nanchang and Nanjing.
Demand-side policies mainly include increasing housing provident fund support, granting housing subsidies, and lowering the threshold for talents to settle down. For example, Foshan's new talent purchase policy stipulates that secondary school or college education can buy a house. Jiaxing City, Zhejiang Province stipulates that the maximum loan period for purchasing new commercial housing is 30 years, and the maximum loan period for purchasing second-hand housing is adjusted from 20 years to 30 years.
In terms of housing enterprises, the data shows that the debt due in the real estate industry this year is about 1.46 trillion, and it will peak in July, reaching149 billion that month. According to the Annual Inventory Report of 100 Cities in China released by Yiju Research Institute, by the end of February of 20 19, the total inventory of newly-built commercial housing in 100 cities nationwide was 483.42 million square meters, up 2. 1% from the previous month and 5.7% from the same period last year.
Under the dual pressure of debt maturity and inventory, housing enterprises have embarked on the old road of exchanging price for quantity. For example, Evergrande took the lead in adopting "combination boxing", and achieved full-caliber sales of 47 billion yuan in February, up by 1 18.3% year-on-year, taking the lead in seizing the opportunity in the frozen property market.
Stimulated by the further strengthening of market liquidity, closed three-dimensional regulation and price reduction promotion of housing enterprises, the property market showed signs of partial recovery in impatience.
Take Shenzhen as an example. The mansion Taiziwan was opened three times, which caused a heat wave in the market and sold out in a short time.
Shenzhen's "sky-high tea fee" has reappeared in the rivers and lakes, causing heated discussion in the market-a house with a square meter of 1 16 in Xinjin, Shenzhen, has a tea fee of1000 yuan, and a house with a square meter of 97-1000 in Yunxi, Rongjiang also has a tea fee of 750,000 yuan.
Not only luxury homes, but also the overall data of Shenzhen property market is showing a good trend. According to data from Shenzhen Zhongyuan Research Center, in March, 3 152 sets of new houses were sold in Shenzhen, up 279.8% from the previous month. The transaction area was 324,000 square meters, up 279.9% from the previous month; 8008 sets of second-hand houses were sold in Shenzhen, up 3.8 times from the previous month, and the average transaction price was 59048 yuan/square meter, up 0.95% from the previous month.
In addition, there are similar phenomena in other regions. For example, Beijing 800 suite sold out in 20 minutes, Suzhou sold 65.438+0.2 billion in 60 seconds, and Hangzhou reappeared 10,000 people to buy a house. ...
The property markets in various places are picking up one after another, which just confirms the judgment of the official WeChat account "Xiaobo Liu on Finance" on the market: when money and water flow into the dry riverbed, it is only a matter of time before the ship of asset price "floats" and "sets sail". Therefore, the recovery of the property market or even the beginning of the "new cycle" is a high probability event.
It may be appropriate to describe the present retaliatory house purchase with a passage that Huan Huan once said in an article.
"Now, the spring of the property market is still in the subtle feeling of seemingly absent, bright future, budding and fleeting. When the sun is shining, the sun is shining, and the trend is clear, the best node of opportunity is gone forever. "