Future chat group - Chapter 847 Spot price, bias

The only worrying thing is that the future information will only deliver some information about the Thai bond market, but other than that, there will be no other relevant information.

In fact, now, Lei Hao also knows that future information is not 100% necessary for him. For example, in Thailand’s bond market, with the strength of Thunder, it is definitely feasible to enter and speculate.

Some things, whether you know it or not, the response is actually the same, Lei Hao clearly understood this.

But the feedback he received from CCB almost made Lei Hao think he had heard wrongly.

“Spot price? Using the spot price to buy bonds for delivery on April 1st is simply an April Fool’s Day joke.” After receiving the first price given by CCB, Lei Hao had the urge to overturn the table.

Business negotiations always proceed from determining intentions, to determining price ranges, to negotiating detailed terms. Under the central bank, there are state-owned financial institutions and private financial institutions. Currently, private financial institutions are led by Lei Lei, and among state-owned financial institutions The one with the best chance of winning this project is China Construction Bank.

The relationship between Thunderbolt and China Construction Bank is also very delicate. The two bidders secretly negotiate with each other and distribute the profits before submitting the plan.

For example, under the same conditions, both Thunderbolt and China Construction Bank can earn 100 yuan from this project. Then the two people discuss it, and Thunderbolt will give CCB a price difference of 50 yuan, and then let Thunderbolt do this business.

If it is a bond forward transaction that occurs several months after the spot price is executed, it is equivalent to CCB not only asking Thunder not to make money, but also having to pay for it.

Bond prices generally increase over time because of the coupon rate.

I bought a 100-yuan bond with an interest rate of 6% on January 1. After three months, the 100 yuan has become 101.5 yuan, and 1.5 yuan is the interest for three months.

Abandon all influencing factors and assume that bonds are rigidly redeemed (in fact, treasury bonds will basically be redeemed), the spot price is the current price, and the forward transaction means that I will trade with you one day in the future and use the spot price to buy forward bonds, that is Say…the bond is 100 yuan now, and I will buy it from you for 100 yuan a few months later. This is robbery.

“Mr. Lei.” Xia Yibei has not completely left the Thunder’s fixed income department. This matter is under his control, but he also woke up from the excitement in the morning and saw some unusual signs: “This is not our institution. They have to set rules for things that happen.”

“That can’t be the spot price!” Lei Hao’s expression was gloomy.

State-owned institutions have an absolute advantage in this type of business. Although the four major banks are all listed companies and are managed by boards of directors, everyone knows that the largest shareholder of these guys is the state, so their executives do not actually have much pressure to make profits.

Political performance is what state-owned institutions pursue.

Private financial institutions are different. Without profits, everything is in vain.

Perhaps this type of business can be calculated into the cost of information acquisition. Even if it loses money, as long as the loss is not too much, it is acceptable to Thunder, because they can extract a certain amount of information from these projects that is enough to affect the operation of funds. The money you spend can be earned back later.

But the spot price! Spot price! This is simply the most ridiculous thing in the world. This is bullying people in real life.

“The interest rates in the Thai market will not change much!” Lei Hao said this with certainty, but then he thought of something, pondered for a moment, and then said: “Yes, there should be no changes, but the fluctuations are It’s possible.”

Xia Yibei listened attentively and silently took note of what Lei Hao said. Thunder employees directly used Lei Hao’s analysis as a definite quantity.

“Ignore this, no matter how the market changes, use the spot price to buy forward bonds with me. Haha, CCB’s calculation is really good!” Lei Hao felt angry in his heart, “Do you really think there is nothing I can do against them!”

“In fact, we really can’t do anything to each other.” Xia Yibei didn’t dare to say these words, so he could only sigh silently in his heart.

If China’s private financial institutions face non-Chinese financial institutions, then the entire red capital system will definitely be behind them. But if they face Chinese state-owned financial institutions, it will be interesting. The natural weakness is not just talk. .

“Let’s talk about it. I believe this price is flexible.” Xia Yibei said with a grimace, showing a persuasive attitude in his words.

The situation is stronger than the people. This is a huge opportunity. Even if it loses money, the Thunder should be the next one.

Yes, logically speaking, Thunder should not accept this condition. China Construction Bank is going too far. The problem is that as long as you dare to let the news out, a large number of institutions in China that want to be exploited will jump out and say, “shoot at me.”

Xia Yibei persuaded him earnestly and kept saying that he would work hard to negotiate with the other party.

Lei Hao’s mood also calmed down. When he looked back, he realized that both himself and others in the company were a little too naive.

The moral integrity of state-owned financial institutions is that they have no moral integrity. If they talk about mutual benefit and long-term cooperation, get out of here. The style of the four major banks is to eat alone. Unfortunately, these “foods” were originally exclusive to state-owned financial institutions.

Now that we are going to implement financial marketization, the central government has begun to be a little more impartial. The sons of state-owned financial institutions can only accept it with pinched noses, but they will try to minimize their losses.

I don’t make money, so don’t even think about making money. Not only do I want to make money, but I also want to take it all away. You can just use the money in exchange for information, and don’t even think about other things.

In the long run, what will be the central bank’s attitude? Lei Hao thought it was most likely indulgence.

It is not unacceptable for the central bank and state-owned institutions, and state-owned institutions and private institutions to form three umbrella levels. After all, making money for state-owned institutions is equivalent to making money for the country, and sons are also biological or not.

“Or maybe the central bank has never thought about giving us profits, but is just too embarrassed to ask us to give money in exchange for information?” Lei Hao began to look at the matter objectively: “That’s right. For the country, private institutions They can exist and develop, but the most trustworthy ones are always state-owned institutions.”

“It’s really a group of people who want to build a memorial arch but also be…” Lei Hao almost cursed, but after confirming this, he couldn’t reason to blame.

Even if private institutions such as Thunder are not allowed to make profits from it, the central bank is promoting financial marketization, but it is not taking big steps, but making small moves.

Don’t blame it, it’s just a different stance. What belongs to the country always belongs to the country. From a legal perspective, what belongs to the country always has your share, as long as you are Chinese.

“Let’s analyze while we talk. Tomorrow at the latest, I want to see the conclusion and progress.” Lei Hao shook his head and ordered Xia Yibei.

Lei Hao is currently busy with wedding matters, so he doesn’t want to continue to be a workaholic, but this matter involves the group’s development plan, and he still has to ask about it.

Besides, as I said before, matters in the financial world must ultimately be left to the market to decide. Even if the opponent has the absolute upper hand, there is not necessarily no chance of turning defeat into victory?