The essence of reverse repurchase of government bonds is short-term loans. Individuals lend their own funds through the national debt repurchase market to obtain fixed interest income. Among them, the reverse repurchase of government bonds can be divided into Shanghai market and Shenzhen market according to the trading place. What is the threshold for reverse repurchase of government bonds in Shanghai market? Let's take a look at the threshold of reverse repurchase of government bonds in Shanghai market!

What is the threshold for reverse repurchase of national debt?

The full name of national debt reverse repurchase is "bond pledged reverse repurchase". On May 16, 2023, the new series of rules for bond trading in Shanghai and Shenzhen Stock Exchanges were formally implemented. According to the new regulations, the name of bond pledged repo is adjusted to bond general pledged repo, and its threshold is also adjusted.

Before adjustment:

Shanghai Stock Exchange: From RMB 6,543,800+,the minimum change unit of declared price is 0.005.

Shenzhen market: from 1000 yuan, the minimum change unit of the declared price is 0.00 1.

After adjustment:

Shanghai Stock Market: Starting from 1000 yuan or its integer multiple, the minimum change unit of the declared price is 0.005.

Shenzhen stock market: 1000 yuan or its integer multiple, and the minimum change unit of the declared price is 0.005.

Generally speaking, the threshold of reverse repurchase of government bonds has been lowered a lot, giving many investors with less funds an opportunity to increase the value of spare money.

When is the highest income from reverse repurchase of government bonds?

The reverse repurchase of government bonds is suitable for conservative investors, and its interest rate is mainly related to the price of funds. In the period of tight capital, the interest rate of reverse repurchase of government bonds is also high, so it will be relatively high in the following period.

1 Generally, there is a lack of money at the end of the quarter, half a year and the end of the year, which may lead to an increase in interest rates.

On the National Day, Spring Festival and other important holidays, the capital demand is relatively high, because financial institutions need to prepare enough funds to meet the people's capital demand, and the yield of reverse repurchase of government bonds may soar. According to the historical situation, it usually reaches its peak in the first two days of the holiday.

The tax payment period is generally in the middle of each month, while the tax payment months in China are concentrated in June 5438+0, April, May, July and June 5438+00. During the tax period, the reverse repurchase rate of government bonds is also higher than usual.

The threshold for reverse repurchase of government bonds in Shanghai market is 1 1,000 yuan, which increases by integer multiples of 1 1,000, and the minimum change amount is 0.005 yuan. At the same time, investors are required to open Shanghai shareholder accounts for reverse repurchase of government bonds in the Shanghai market.

In addition, the reverse repurchase of government bonds has the following trading rules and trading skills:

1, trading rules

Trading unit

The threshold for reverse repurchase of government bonds in Shanghai and Shenzhen stock markets is 1 1,000 yuan, which increases by an integer multiple of 1 1,000, with a minimum change of 0.005 yuan.

transaction cost

The handling fee and commission for the reverse repurchase of treasury bonds are about 0.00 1%-0.030%, and the minimum charging standard of some securities companies is 1 yuan, that is, when each transaction is less than 1 yuan, the cost rate of reverse repurchase of treasury bonds is different in different periods. The trading time of reverse repurchase of government bonds is 9: 30-60 every trading day. 13:00- 15:30。

2. Trading skills

Buy one-day treasury bonds on Thursday for reverse repurchase.

Investors buy 1 day treasury bonds on Thursday for reverse repurchase, and calculate the actual income three days later. At the same time, the funds can still be used for investment, and gains will be made on Friday.

Buying government bonds and reverse repurchase before holidays

The yield of reverse repurchase of national debt is related to the capital of the market. The tighter the funds, the higher the rate of return. Generally speaking, the market demand for funds at the end of the month and the end of the year is large, which leads to a higher rate of return on reverse repurchase of government bonds. At the same time, you can enjoy more interest income by purchasing reverse repurchase of government bonds the day before holidays.

Buy government bonds for reverse repurchase when the market interest rate rises.

When the market interest rate rises, the yield of reverse repurchase of government bonds will also rise. On the contrary, when the market interest rate falls, the yield of reverse repurchase of government bonds will fall.

The threshold of reverse repurchase of government bonds in Shanghai market

According to media reports, some new bond trading rules such as "Shanghai Stock Exchange Bond Trading Rules" will be implemented on May 16, 2023. The standards of Shanghai and Shenzhen stock markets began to be unified. The threshold of reverse repurchase of government bonds in Shanghai Stock Exchange was adjusted from the previous 1 10,000 yuan to 1 10,000 yuan, and Shenzhen Stock Exchange continued to maintain the threshold standard of 1 10,000 yuan.

According to the new regulations, the name of bond pledged repo is changed to bond general pledged repo. Generally, the bond pledged repo transaction only adopts matching transaction at the initial stage, and the implementation time of other trading methods will be notified separately by the Shanghai Stock Exchange. If the bond pledged repo generally adopts matching transaction and negotiation transaction, the declared amount of a single transaction is 1000 yuan or its integer multiple. The minimum change unit of the declared price is 0.005. The declared amount of national debt reverse repurchase in Shenzhen Stock Exchange is still 1 1,000 yuan or its integer multiple, and the minimum change unit of declared price is changed from 0.00 1 to 0.005.

In response to the adjustment of this threshold, the Shanghai Stock Exchange also made a simple explanation. According to the drafting instructions of the new regulations on bond trading, there are great differences in the number of units and quantity control of bond repurchase transactions in domestic bond markets at present, which affects the efficiency and convenience of market participants participating in bond repurchase transactions, and is not conducive to the interconnection between different bond markets.

According to the principle of connecting with similar businesses in domestic and foreign markets, the reporting unit of quantity is adjusted to "denomination", which is consistent with the interbank market; Set the declared number of ordinary repo matching transactions to 1000 yuan denomination or its integer multiple, which is consistent with Shenzhen Stock Exchange.

In addition, this new regulation also changes the expression of bond pledged repo to general bond pledged repo. The Exchange said that in order to accurately reflect the business characteristics of the existing "bond pledged repo" and its differences from other pledged repo businesses such as agreement repo and tripartite repo, and to facilitate cross-market investors to participate in different bond market repo businesses and connect with domestic and foreign bond markets, the name and related terms of pledged repo have been readjusted.