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Shrinkage, breakage, and filling

author:Invest in convertible bonds
Shrinkage, breakage, and filling

This article was originally sent yesterday evening.

On May 15, the Hong Kong stock market was closed, the market lacked external force to promote, the consolidation turned into a broken fall, the volume of energy continued to shrink, the gap on May 6 was about to be filled, and the Shanghai Composite Index shrank below the 10-day moving average.

Shrinkage, breakage, and filling

After the A-share market fills the gap, Hong Kong stocks will open on the 16th, and if Tencent Holdings pulls Hong Kong stocks bullish with good quarterly results, the A-share market may be able to regain its upward trend.

Shrinkage, breakage, and filling

On the disk, a few sectors such as aquatic products, real estate, hire-purchase rights, horse racing concepts, household goods, property management, PEEK materials, household appliances, building materials, and small and medium-sized banks rose; Most sectors such as shipping, securities, Sora concept, virtual power plants, innovative drugs, and immunotherapy fell.

Shrinkage, breakage, and filling

The convertible bond market was relatively resilient, with CSI convertible bonds falling by 0.23%, with a turnover of 60.6 billion yuan; The average underlying stock fell by 0.59%, the Ningyuan convertible bond equal-weight index fell by 0.28%, the overall pure debt premium rate fell to 21.1%, the low-risk pure debt premium rate fell to 11.3%, and the median premium rate fell to 23.7%.

Note: For the calculation method of Ningyuan Convertible Bond Equal Weight Index, please refer to "How Much Can Ordinary Retail Investors Earn on Convertible Bonds?" 》。

Micro-cap and super-large cap convertible bonds fell slightly, and low-risk convertible bonds rose slightly, which was the most resistant.

Shrinkage, breakage, and filling

TMA (trimellitic anhydride) price increase theme is coming again, Zhengdan convertible bonds ranked first in the increase, and Baichuan to 2 with the same theme also rose well, but it did not squeeze into the list of gainers.

The radio and television convertible bonds and Yokogawa convertible bonds on the list of gainers are still 1.4 months away from each other, and they will expire in 2.4 months, and they will plummet to around the redemption price of 110 yuan before expiration, which is extremely risky and investors need to be vigilant.

Shrinkage, breakage, and filling

For the views and principles of this article, please refer to "Value Convertible Bond Investment Strategy" (authors: Ning Yuanjun, Tang Bin).

Shrinkage, breakage, and filling

"In the end VS not in the end", "9 convertible bonds are not repaired, and there are still 6 worth looking forward to", "Alert! "Soaring Convertible Bonds or Forced Redemption" has been posted simultaneously on the WeChat public account, welcome to pay attention!

The relevant securities mentioned in this article do not constitute any investment advice, only for personal investment records and to share investment ideas, if netizens buy and sell according to the securities mentioned in the article, please bear your own risk!

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