As the COVID-19 epidemic continues to spread around the world, which coupled with the fact that OPEC and its oil-producing allies did not reach any production reduction agreement over the weekend, global stock markets have suffered a "serial collapse" for several consecutive trading days. Market risk aversion rose sharply again, and investor asset allocation demand began to shift to bonds, gold and other assets. Many fund companies seize the opportunity, so that bond funds ushered in a wave of issuance.
Relevant data show that as of March 13, a total of 34 bond funds are being issued in the market. Of these, 10 have been issued since March and 4 have been issued for the New year. In addition, according to the statistics of the subscription start date, up to March 11, a total of 3 bond funds were established in March, accounting for 30% of all newly established funds, which is also an increase over February. Market participants said that the intensive issuance of bond funds has something to do with the turmoil in the external markets, and overseas risk aversion and expectations of further easing may be good for the domestic bond market.
It is worth noting that, in addition to the increase in volume, bond funds have also frequently ended their offerings ahead of schedule in recent days, which proves the principle of "doomsday proportional confirmation" and"living paycheck to paycheck funds " are no longer the patents of equity funds.
According to incomplete statistics, up to now, 14 bond fund products have ended the offering ahead of time in March because the fund raising scale and the number of subscribers have reached the filing conditions for the entry into force of the fund contract, and at the same time meet the conditions agreed in the fund share sale announcement to end the offering ahead of schedule.
As for the direction of the bond market and bond funds in the future, experts said that monetary policy has increased credit support to the real economy, so the market liquidity is very abundant. As a result, the bond bull market is bound to continue this year. Specifically, there are good investment opportunities for medium and high-grade bonds, such as interest rate bonds, bank certificates of deposit, urban investment, industrial state-owned enterprises, high-quality private enterprises and so on.