30 billion-dollar e-bonds to be on sale today

Reporter yesterday from the Ministry of Finance website learned that from today until December 6, there are two issue of national debt for individual investors to issue. The 1-year par annual interest rate is 2.6%, the issuance amount is 15 billion yuan, the 3-year par annual interest rate is 3.73%, the issue amount is 15 billion yuan.　　The establishment of diplomatic relations between workers and peasants, as well as joint-stock banks. Reporters from the Ministry of Finance notice that the two issue of national debt from November 20 onwards, according to simple interest payments. In terms of nominal interest rates, the 3-year Treasury note is 0.4% higher than the same period, while the 1-year Treasury bond rate is only about 0.35% per cent higher than the same period, which seems to be more cost-effective for three years.　　But with many researchers predicting that the central bank will raise interest rates next year, whether investors should buy 1-year bonds or 3-year bonds, they seem to think about it. Industry insiders to the press account: Assuming that the central bank will raise interest rates next year, so now buy 1-year bonds in the holding period is bound to encounter at least one bank interest rate rise, its interest rate advantage is reduced by at least 0.27% to 0.08%. Take 100,000 yuan investment as an example, buy the government bond income is 2600 yuan, the deposit and deposit income is 2250 yuan, buys the government bond income to be compared with the fixed deposit to be more than to set aside 350 yuan, but if raises interest rate once, spreads spreads reduces to 80 yuan.　　However, since the 1-year Treasury bonds will expire next November, then the payment of principal and interest will be deposited in the bank also in time, so the opportunity cost of buying now is not high, or relatively cost-effective. and 3-year bonds are different, after entering the interest rate channel, the holding period may encounter a number of bank interest rate hikes, and as long as the interest rate reached 2 times, the yield of Treasury bonds was lost to the bank deposits.　　Thus, in terms of profitability, it may not be cost-effective for ordinary individual investors to buy 3-year bonds. However, the industry also told reporters that, although the income is relatively low, but the national debt has its own unique advantages, such as low risk, stable earnings, unlike other financial products, once the economy appears to be in trouble, may lose money.　　Therefore, for investors with more funds, the appropriate configuration is also possible. (Chen Chunlin)