Rebirth: Back to 1993 as the richest man

Chapter 416 Treasury Bond Futures

327 is the national bond code, referring to the 1992-year treasury bond issued in 3.

It seems that this is just an ordinary financial futures product in the form of national debt, but Chu Tianyao clearly remembers that it was precisely because of this 327 national debt that it triggered the darkest day in the history of Huaxia Securities.

Before 1990, treasury bills were issued through administrative distribution, and it was only in this year that a national secondary market was formed. Many individual investors began to purchase treasury bonds as a means of long-term savings.

Beginning in the 90s, referring to the international financial market, the higher-ups decided to carry out financial innovations in the issuance of treasury bonds. It was impossible to engage in stock index futures, which would be too risky, so treasury bond futures came into being.

At the end of 1992, the Shanghai Stock Exchange issued the first design and trial launch of 12 types of futures contracts, including 327 treasury bonds.

However, for ordinary people, treasury bond futures are too unfamiliar, and almost ninety-nine percent of them have no experience in futures investment, so the 327 treasury bonds launched this time have become more of a battle between financial giants. fight.

And around the 327 national debt, it is nothing more than a game between short sellers and long sellers.

One o'clock.

in the hotel room.

Du Guoying had already left, and Chu Tianyao was sitting alone in the room, lighting up cigarettes one after another.

It would be fine if he didn't know about this incident, but as someone who had been in the business world in his previous life, how could Chu Tianyao not know about the famous 327 national debt incident.

"Want to go in?"

Chu Tianyao took a deep breath, exhaled a long puff of smoke, and his expression suddenly became serious.

Originally, what he should have worried about was the cooperation with Datong Trading, but the sudden emergence of the 327 national debt caused Chu Tianyao's originally calm heart to set off a huge wave.

If the trajectory of history has not changed, then this is an unprecedented opportunity for him.

Because Chu Tianyao knew the next direction of the 327 national debt.

This is equivalent to holding the lottery numbers of the next lottery in his hand. If he doesn't buy them, it will be a waste of this excellent opportunity to get rich.

Right now, both Xingyao Liquor and Xingyao Technology need a lot of funds for market expansion. If they can suddenly make a sum of money, this will naturally solve Chu Tianyao's big troubles, and even save him at least one or two dollars. Year layout time.

With the money, he can build a large number of factories in a short period of time and occupy the northern market before Wanyan Company, so there will be no suspense in the VCD battle.

However, does Chu Tianyao dare to ask for this money?

Just think about it, winning a lottery with a double bet can be said to be luck, but if you win a lottery jackpot with a hundred times, no one will believe it.

The 327 national debt is even more so.

This is an extremely hot potato, and many people have been imprisoned because of the 327 national debt.

"Right now, Guan Jinsen of Wanguo Securities is the short seller of the 327 national debt. If I remember correctly, his biggest opponent should be Chairman Wei of CICC."

Tapping the table with his fingers, Chu Tianyao recalled quickly in his mind, obviously weighing the pros and cons.

Needless to say, Guan Jinsen is the general manager of Wanguo Securities, the largest brokerage firm in China. He is also known as the godfather of securities, which is enough to show his status.

From the 80s to the early 90s, almost everyone in the domestic financial circles admired him.

After the issuance of 327 treasury bonds above, Guan Jinsen is the short seller in this game. In Guan Jinsen's view, the coupon rate of 327 treasury bond cash bonds is 9%. 5 yuan.

然而在1991——1994年中，国内通胀率一直居高不下，所以上头对327国债的贴息率一直都在7到8个点。

The reason why Guan Jinsen chose to short is because he saw this, so he thought that the final redemption price of the 327 national debt should not exceed 132 yuan, so when the market price fluctuated at 147 yuan, he decisively chose to short it.

Not only was he short selling himself, Guan Jinsen also formed a short selling alliance with the Gao Brothers of the Liao Guofa Group. The two major capitals entered the market, and Guan Jinsen was naturally extremely confident in his heart.

To be reasonable, if you only look at the strength of the short side, no one will feel that the result is in suspense.

However, Guan Jinsen's opponent is Wei Dong from CICC.

The founder of the Yongjin Department was only 28 years old at the time. He was in charge of the Securities Department of CICC just two years after graduating from graduate school. He is a rising star in the Chinese financial industry.

However, Chairman Wei is not a key figure. What really makes people awe-inspiring is the background of CICC.

Huaxia Economic Development Trust & Investment Company, referred to as CICC!

CICC is affiliated to the Ministry of Finance.

It goes without saying who Jinsen will fight against.

Different from Guan Jinsen's idea, Wei Dong advocates doing more on the 327 treasury bond futures. He believes that the special nature of the 327 treasury bond futures is bound to make it impossible for the higher authorities to make them open high and go low.

Ever since, the two major funds have been fighting on the 327 treasury bond futures.

As for who will win this battle in the end, no one knows right now, but for Chu Tianyao, the answer is already in his heart.

The only thing he was worried about was whether or not to get involved.

After the 327 national debt incident, the short side suffered a disastrous defeat, and the leader Guan Jinsen went to jail.

And do you think the whole army will win if you are long?

If Chu Tianyao remembers correctly, the four winners who made profits from the 327 National Debt incident all ended in misery.

Wei Dong, who was long-term, made a profit of more than [-] million in the First World War. Later, he simply withdrew from CICC and founded the "Yongjin Department", which included the famous Jiuzhitang, Qianjin Pharmaceutical and other companies.

However, just over ten years later, Wei Dong was investigated by his superiors and jumped from a tall building in the capital, leaving a huge mystery in the Chinese financial circle.

In addition to Wei Dong, the long side also included Zhou Zhengyi, the later Shanghai stock market tycoon, Yuan Baojing, the No. 1 stock market in China, and Liu Han, a billionaire in Sichuan Province.

None of the three escaped from prison.

Common people seem to be ignorant of the great changes that have taken place in the financial world. However, as a latecomer, Chu Tianyao deeply understands what this great change means to the entire Chinese financial system.

Right now, there is such an opportunity to pick up money in front of him. As long as Chu Tianyao is willing, he can even surpass Wei Dong and others and become the biggest beneficiary.

However, in this way, there will be countless pairs of eyes behind Chu Tianyao.

Is the opportunity in front of you really worth the risk?

At some point, Chu Tianyao's cigarette burned more than half of it between his fingers, and the slight burning sensation woke him up from his contemplation.

Bang bang bang!

He could even hear his own heartbeat clearly.

"Forget it, if you want to make a lot of money, you must spend all the money in the Xingyao Liquor and Xingyao Technology accounts. Just this point will fall into the hands of others, and if you do too much, you will be suspected."

Chu Tianyao thought for a while, but finally shook his head.

It would be a lie to say that you don't feel sorry for giving up such an excellent opportunity to make money.