Do more than $short gold, or the most popular and
all the financial media these days surrounded by treasure to buy vanke, natural care insurance institutions of money market, how to, here is more on details:
Insurance funds into the market or mismatch "leverage" During the years of asset shortages, high-yielding assets hard, but universal risks, the risks of these high yield of insurance products is issued by insurance company attracted a lot of money, expected rate of return of such products to investors generally in 5% or more than 6%.Since this year, the rapid expansion of the scale of this kind of product.The China times reported that first 10 months of 2015, universal risk and investment risk rose 91%, to 656.4 billion yuan, 100% even risks can cast stocks, universal coverage of 80% can be used to vote shares.This period of life can treasure owned by sea before the universal coverage reached 48.1 billion yuan, but compared with the "tomorrow" obvious dwarfed, huaxia tianan life life, life, life and the first 10 months of this year 200 billion universal risk scale.Although many expectations of insurance funds will be a lot of play, in turn, promote market expectations, but it
seems to wide hair negotiable securities, the current in the market of insurance funds is a kind of mismatch "leverage", behind the larger risk - now "safe-haven" organization configuration "risky asset" main lever funding sources, this belongs to a kind of "passive and leverage", have a greater risk of mismatch "assets".Push up in the first half of this year "mad cow" money has two sources: one is the broker "two" balance is increased, the other one is all kinds of otc with information and eventually through brokers to provide interfaces to market, mainly to add leverage brokerages, which is a kind of visible, and leveraged funds generally have higher risk appetite.The current insurance institutions to issue universal insurance high-yielding of insurance products, and ultimately to the stock market, quite so insurance has become the new add lever body;And buy insurance money itself belongs to a kind of "hedge funds", using "hedge funds" to configure the stock "risky asset", the obvious mismatch.
Narrator: this is just an explanation, the key is the takeover of the listed company itself, there are some problems: the paper lay a lot of cash and assets, yields are preliminary gradually lower, plus a group of his management team.After the purchase of insurance funds, literally point rich assets liquidation, is
enough to pay for universal coverage that 6% interest.You every day the young man's sister, young people must be your company.All Internet financial era, everyone have a plenty of ways to impact the old order, or asset management company has a new move to large Banks non-performing assets, the difficulty of digestion:
Asset management companies, taobao "wholesale" Banks non-performing assets
The main source of traditional non-performing assets is a bank.Upon completion of non-performing assets acquisition, asset management companies to assume the rights and obligations between Banks and borrowers.Through bad assets restructuring, litigation and sales, asset management companies will be able to implement or expand the value of his purchase of toxic assets.But asset management companies since 2011 to absorb most of the debt is from non-financial institutions.Asset management companies and purchased from Banks and non-bank financial institutions of the restructuring of the non-performing assets.According to the Wall Street journal reported that China's asset management company now for these "useless things" is very excited, they found that these "assets" on taobao auction easier.Wall Street journal article
writes, "compared to using more laborious time-consuming, traditional method of non-performing assets restructuring, asset management companies in China are now more inclined to auction their holdings of stocks. China huarong asset management corporation in China's largest e-commerce sites -- taobao recently auctioned off a lot of bad assets. Huarong asset management corporation according to the assets is the biggest non-performing assets in China."Huarong plan on taobao auction 1.5 billion yuan worth of bad loans.China cinda asset management plans on the Internet auction 4 billion yuan worth of bad loans.Barclays said, "under the current credit cycle, rising non-performing loans supply. Asset management companies started to more frequent use a" wholesale model "to deal with non-performing loans (for example, sells fast acquisition of non-performing loans to other companies, through to make less profit for asset values rising earnings).".In other words, Chinese organizations in the rate of non-performing loans is faster, so that the asset management companies need to use the "wholesale" means to keep up with the rhythm.According to the report, through the network platform to sell
non-performing loans to the highest bidder could help Banks and the so-called "bad bank" to digest more bad loans.However,
taobao has not answered the question of running such platform need permission.Taobao does not answer the question of whether or not to need to auction permits, this is the provisions of the offline sale of non-performing loans.Industry sources quoted the taobao, taobao is an asset auction platform, itself is not for sale, so there is no need to license.
Narrator: if you want to buy toxic assets, taobao is willing to buy what kind of assets?Anyway, Banks bad debts rate soaring, how to deal with this kind of bad assets, and test means of asset management companies.New financial began to collapse of the old order, order is on the rise.Estimated before this is creditor's rights and economic stake in the economic transition, China's banking biggest bad shed, after the estimate is very difficult to have.For registered company determined to carry out the next year, in the future on the bad debts are reflected in the stock market crash, the Banks should have been hit less: Shaw just: can use the National People's Congress authorized to carry out the system of registration
Today on the 18th session of the twelfth session of the standing committee of the National People's Congress, the securities and futures commission chairman xiao entrusted by the state council is on the authorization of the state council in
implementing stock issuance of registration system reform to adjust for the decision of the relevant provisions of the "securities law of the People's Republic of China > (draft)" (hereinafter referred to as the "draft").Xiao said the draft rules on the three aspects, including the authorized matters, implementation period (the implementation of the
authorization decision deadline for two years), and related requirements.Authorized matters, the standing committee of the National People's Congress examined and approved after the authorization decision, will according to the authorization of the state council, to be listed on the Shanghai stock exchange, shenzhen stock exchange trading stock public offerings, adjustment for the securities law of the People's Republic of China on the relevant provisions of the stock ipo approval system, make relevant system arrangement on specific matters.Details, including the registration organ, audit requirements, information disclosure and the responsibilities of the agency and the corresponding things afterwards
supervision measures and punishment enforcement arranged by the state council, reported to the standing committee of the National People's Congress for the record.Implementation period, the SFC spokesman Deng Ge 11 at a regular press
conference stressed that the draft of the "two year period", refers to from the standing committee of the National People's Congress to decide the date of the specific
implementation.Form a complete set of requirements.9 the state council executive meeting mentioned, wait for after the authorization of the standing committee of the National People's Congress, relevant departments will formulate relevant rules, solicit opinions in public after implementation, and strengthen the regulation of things after the event, to protect investors' legitimate rights and interests. Narrator: the situation being urgent, can't wait, simply let the National People's Congress authorized to solve the
problem.Management at all afraid of the big steps at the eggs.Because this is the system construction of anti-corruption work, rise to political level, the comrades not urgent express processing, great leadership is very dissatisfied.So so much stock emerging market, the valuation system will collapse?In fact the shortage of global liquidity, as energy prices tumbled to deflationary expectations, is still very strong:
The American people celebrate international oil prices tumbled Ready to drive in the passing of americans will be delighted to discover, Christmas in gasoline prices have fallen below $2, it is
more than 6 years since the price of gasoline is very cheap for the first time.At present, two-thirds of American gas stations sell petrol prices are even lower at $1.99 a gallon.Just a month ago, oil was $2.11, in the same period last year is $2.44.Under the stimulus prices decline, the U.S. consumer demand for gasoline is on the rise.According to the energy information administration, gasoline demand has been at the highest level since 2007.The United States, according to data from the American petroleum institute oil refinery in November this year average daily production of 9.83 million barrels of gasoline, up 2.3% from a year earlier.The American automobile association spokesman Michael Green, said americans saved $100 billion in total gasoline this year, on average, the equivalent of everyone saved $350.
Narrator: the Chinese people?This, we have not much said, is not the same as the state of the union.But the effect of the shale gas revolution is too big, can't see the inflation in the short term trend, and the global energy situation is affected by: The United States officially lifted for 40 years crude oil export bans
U.S. President barack Obama signed Friday in government spending and tax bill, 40 years after the officially lifted crude oil
export bans, part of the industry think that Europe and Asia will get a new import choice, also some people said the move several years won't have too big effect on the global market.In the early 1970 s, the oil crisis, soaring oil prices in the United States, in order to ensure the security of its oil supplies, the United States in 1975 the energy policy and energy
conservation law, strictly limit the U.S. crude oil exports.In recent years, under the impetus of the shale gas revolution, American oil production is increased, the United States calls the rising domestic demand lifted the ban on crude oil
exports.China and South Korea china-australia fta in operation of more than 4000 goods will avoid tariffs in China.After the implementation of two agreements will be in accordance with the list of tariff concession tariff cuts.Among them, China and South Korea free trade agreement, under no. 6108 of the income tax under the Chinese origin of goods, no. 1649 of the income tax under the south Korean origin of the goods will be shipped immediately by the other party, enjoy zero
tariff;China-australia free trade agreement, under no. 5662 of the income tax under the Chinese origin of goods, no. 2402 of the income tax under the Australian origin of the goods will be shipped immediately by the other party, enjoy zero tariff.On
January 1 next year, the two agreements will be implemented for the second time lower taxes, tariffs cut further.After a transitional period, the vast majority of the goods under the two agreements will eventually achieve zero tariff.At present, our country is multiple free trade talks back on track, including the regional comprehensive economic partnership agreement (RCEP), China - the gulf cooperation council free trade area, China - Norway's free trade area, China, Japan and South Korea free trade, free trade zone between China and Sri Lanka and China - the maldives free trade area, etc.In addition, in the negotiations on trade between China and Singapore upgrade in the second stage, China - Pakistan fta negotiations and the cross-strait economic cooperation framework agreement, the follow-up negotiations.
Narrator: now, try very hard to bargain, Saudi Arabia and other countries to get shale oil development no profit, but the crude oil export ban opened up, as long as oil prices rose slightly larger, America estimates shale oil exports will frighten dead.So the estimate for oil prices will rise up, so now the global financial assets are bullish on the dollar, bearish gold: Hedge funds shorted gold scale innovation record
In the past 9 weeks, gold has 8 weeks finally closing at