Sold out in two minutes, ultra-long-term special treasury bonds are "empty in seconds" again

National Business Daily

2024-05-27 16:52Published on the official account of Sichuan Daily Economic News

Every reporter: Song Qinzhang Every editor: Chen Xing

Ultra-long-term special treasury bonds were once again sold out in seconds.

On May 27, the 20-year special treasury bond was put on sale. The reporter of "Daily Economic News" learned that the "24 special treasury bonds 02" of some banks were robbed within two minutes.

Industry insiders once told every reporter that individuals who buy long-term treasury bonds need to conduct a comprehensive assessment of their own investment amount, term, interest rate, etc., and at the same time fully understand the terms of treasury bonds, early redemption, transfer, etc.

There is a bank "24 special treasury bonds 02" sold out in two minutes

The 20-year special treasury bonds began to be distributed today after the closing of the tender and will be listed for trading on May 29.

The reporter learned in the early stage that many bank outlets have not received the notice of distributing ultra-long-term special treasury bonds to individual investors, and individual investors can only purchase them through some bank counters or mobile banking such as China Merchants Bank and Zheshang Bank.

Early in the morning of May 27, the reporter came to a branch of China Merchants Bank, and a customer commissioner said that it could be snapped up on mobile banking, and distribution would start at 10:00, and it might be sold out in two or three minutes.

At 10:01, the reporter opened the sales page of "24 Special Treasury Bonds 02" on the mobile banking of China Merchants Bank, and the page displayed "1,607,723 shares of available for purchase", and after a few seconds, the reporter refreshed it, and immediately became "0 shares of available shares", and the button at the bottom of the page immediately changed from "buy" to "sold out".

A customer commissioner of China Merchants Bank told every reporter that compared with the last 30-year special treasury bonds, the maturity of this special treasury bonds is shorter, and the amount of distribution by China Merchants Bank is also less, "only 500 million yuan", which may be the reason for the relatively fast sell-out.

The client said that if the client wants to earn coupon income, in fact, the coupon income of ultra-long-term special treasury bonds is not high; If the client wants to earn capital gains, it is advisable to buy a little.

He also told every reporter that the ultra-long-term special treasury bonds subscribed on the mobile bank can also be traded in the secondary market. "After buying here, you can open a transfer custody, such as transferring to another securities company, and you can trade."

In addition, the reporter learned that although some banks distribute ultra-long-term special treasury bonds, they are not for individuals. For example, a staff member of a branch of China CITIC Bank told reporters: "This is for the enterprise version, not for individuals." ”

According to the product information of China Merchants Bank's "24 Special Treasury Bonds 02", the type of bonds is book-entry treasury bonds, the risk level is R3 medium risk, the coupon rate is 2.49%, the term is 20 years, the interest payment method is regular payment, the interest payment cycle is 6 months, the value date is May 25, 2024, and the maturity date is May 25, 2044. This ultra-long-term special treasury bond can be sold at 10:00~15:30 on the trading day, and the funds will arrive in real time.

The ultra-long-term special treasury bonds offered by Zheshang Bank are also popular. The reporter saw on the mobile phone that the "24 Special Treasury Bonds 02" on the mobile banking of Zheshang Bank went on sale at 10:00 a.m. At 10:06, the reporter found that the "24 Special Treasury Bonds 02" had been sold out. But at noon, when the reporter opened the Zheshang Bank APP again, "24 Special Treasury Bonds 02" changed back to a subscribeable state.

A staff member of a branch of Zheshang Bank told reporters that the bank's "24 special treasury bonds 02" had indeed been sold out before 10:30 a.m., but the bank added an additional 100 million yuan at 10:30 a.m.

Individuals purchasing long-term treasury bonds are subject to a comprehensive assessment

The 2024 government work report proposes that in order to systematically solve the funding problem of some major projects in the process of building a strong country and national rejuvenation, it is planned to issue ultra-long-term special treasury bonds for several consecutive years starting from this year, which will be used for the implementation of major national strategies and security capacity building in key areas, and 1 trillion yuan will be issued this year.

On May 13, the Ministry of Finance issued the Notice on Announcing the Relevant Arrangements for the Issuance of General Treasury Bonds and Ultra-Long-term Special Treasury Bonds in 2024. According to the arrangement, the maturity of ultra-long-term special treasury bonds includes 20 years, 30 years and 50 years, and interest is paid on a semi-annual basis. From the initial offering on May 17 to the completion of the issuance in mid-November, a total of 22 issuances were issued, and the issuance time was mainly concentrated in the third quarter.

Previously, Wu Suwei, a private wealth manager, told reporters that the current long-term income is stable and safe assets are relatively scarce, and the interest rate and safety of long-term treasury bonds will be favored by many investors. However, he also mentioned that individuals who buy long-term treasury bonds need to conduct a comprehensive assessment of their investment amount, term, interest rate, etc., and at the same time fully understand the terms of treasury bonds, early redemption, transfer, etc.

In addition, the risk of price fluctuations in the secondary market of special treasury bonds also deserves attention. The Ministry of Finance has reminded that the trading price of book-entry treasury bonds fluctuates with market conditions, and investors may obtain trading gains due to rising prices after buying, or they may face the risk of losses due to falling prices. Therefore, individual investors in book-entry treasury bonds who do not hold them to maturity but make profits from trading should have certain investment experience and risk-taking ability.

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