2014-03-09

Newly Issued Trusts Surge, But Newly Established Trusts Plunge; WMPs Investors Continue To Choose Safer, Shorter Maturities

As usual, these are estimated numbers from 金牛理财. Bars represent the value, the blue line is the number of trusts. If the newly issued trusts (top chart) are the future, then the industry could turn the corner here and avoid a crisis. The data looks like an outlier given that the other big spike came on February 16, the week when China opened for business after the Spring Festival. Given everything else going on, I need to see confirmation.

As for WMPs.

First up is a look at the yield spread between short-term (yellow line) and medium to long-term products (orange), which continues to widen.

Here's the spread between guaranteed (yellow) and non-guaranteed (orange) products.

Finally the yields/spread for big/state-owned and small/medium banks.

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