The exercise represents the transfer of risk exposure, and the position is slightly higher than the market price, offsetting the spread obtained by the CCB foreign exchange and storage business department, which is equivalent to not making any profit.
On the other hand, it can also be said that CCB's remittance and savings business department is very decisive and confident, for them, even if there is no money to make, it is not unacceptable, but the thunder is equivalent to being kicked out of the game for the first time.
Because Lei Hao didn't make any money, Thunder was equivalent to helping CCB directly complete the position.
"Sooner rather than later, the longer you stay in the high position, the more floats you will absorb, but we don't want you to enter."
Zhao Weihua made his choice in a very short time.
I don't care what your attitude is, I only need my position, if you dare to yin me, I will dare to kick you out.
Before January arrived, the Thunder completed this single remittance business, which seemed to be a good thing, but it was actually educated once.
For a moment, the thunder was silent, one second they were still proud of their operation, and the next moment CCB pulled it back, and the loss of the position was enough to make the thunder's situation embarrassing.
The exercise of the rights of the CCB foreign exchange and savings business department means that Thunder can only use 2oo billion baht to earn bond coupon interest in the end, which is equivalent to helping the CCB foreign exchange and savings business department hold bonds.
If the exercise method is a futures contract, the interest will be severed "The big enterprises are really domineering."
"These guys are really as domineering as ever."
"Is this a tear in the face?"
In the Shanghai market, thunder, and fixed income departments, many people have helpless expressions on their faces.
Everything is a contradiction caused by the foreign exchange and storage business, at first the state-owned enterprises wanted to suppress the thunder and get the established advantages, and then the contract was signed, the thunder hurt people and slapped the past, and now it is the CCB foreign savings business department that turned its face and directly kicked the thunder away.
Market behavior represents the will of institutions, and from these actions, people in the industry can easily smell a strong smell of gunpowder.
"I don't know what Lei will always do" Thunder's fixed income department employees, now looking forward to Lei Hao's reaction.
In Lei Hao's office, Xia Yibei also oozed some sweat on his forehead, and he was a little nervous.
While the Fixed Income Department did nothing wrong, the consequences were not so rosy.
"What's there to be nervous about" Lei Hao looked at Xia Yibei's expression, but his face was full of smiles, "The fixed income department is operating in the direction I pointed out, do you think I will dump the pot?"
"It's not."
Being interrupted by Lei Hao like this, Xia Yibei was a little dazed, but after a pause, his nervousness quickly subsided, and he said with a wry smile: "I'm just a little nervous, after all, it's CCB." ” "But we've pulled things into the market," Lei Hao said with satisfaction: "All along, our goal is to eliminate other influencing factors of things, pull the other party into the market, and use the market to speak, isn't it?"
"That's true, but we don't have any positions."
Xia Yibei frowned.
"Only the governor is allowed to set fires, aren't the people allowed to light lamps" Lei Hao was very happy in his heart, and said: "I am very satisfied with the current progress." ” Lei Hao didn't lie, he was indeed satisfied with the current situation.
In fact, it is also a tacit understanding, both Chinese-funded financial institutions, under the watchful eye of the central bank, Thunder is not suitable for too much conflict with state-owned institutions, but the urine nature of state-owned institutions is understood by everyone, and Thunder cannot accept the old way of exploitation.
There is suppression, there is resistance, but you can't get your head to break the blood, so things are very simple, CCB and Thunder, just use the Thai bond market to test each other, and finally tacitly promote the progress of things to the current situation.
Under the prospect that everyone must strengthen cooperation, it is very normal for everyone to play each other's hands, and the central bank is happy to see the thunder and the state-owned enterprises fighting, otherwise, why should the thunder be pulled into the business competition for the restructuring of the foreign exchange reserves Now everyone's situation is also very clear, when Zhao Weihua takes the position, it is also equivalent to taking risks, and when Thunder loses the position, it also means that there are no scruples.
It's a mule, it's a horse, and it's a horse that comes out for a walk.
"For CCB's OTC trading offer for the Remittance Savings Business Department, we shorted 200 million baht of Thai government bonds and let them take orders."
Lei Hao opened his mouth and commanded.
Xia Yibei thought about it and agreed, but before he could give the next instruction, a surprised expression suddenly appeared on his face.
OTC trading can be over-the-counter trading, that is to say, Thunder wants the CCB foreign exchange savings business department to increase the bond market risk exposure of 2oo billion baht to 4oo billion, because the other party already holds 2oo billion baht of face value bonds, and Thunder shorts the past, which is equivalent to the opponent taking another 2oo bullish position.
This kind of thing is not something that the foreign exchange savings business department will do, and CCB also has a bond income department and other departments similar to the Thunder fixed income department, but the thunder bypasses all departments and makes a direct offer, the purpose of which is to show the attitude of accepting the offer.
Then, if you open a position, you have to have the next operation, how we suppress the bond price, how we use the capital advantage, this series of things must be solved.
Xia Yibei waited for Lei Hao's instructions, but what he saw was Lei Hao's finished expression.
"That's it for now."
Lei Hao saw Xia Yibei's expectant expression, and immediately guessed the other party's thoughts, but he didn't explain, waved his hand and asked him to go out to work.
As the leader of the Thunder Fixed Income Department, he is ready to take over the senior management of KH Guoyin at any time, if Xia Yibei can't understand this kind of thing, Lei Hao must consider changing someone.
Thunder's operation in the Thai market has continued, the bond market is only secondary, and the information fed back to the bond market by Thunder's actions in other areas is bearish, so Lei Hao does not need too many actions at all.
And Thunder and CCB are just a small fight, if you increase the range of action, believe it or not, CCB will dare to find the corresponding capital forces to exert pressure, but it is better to control this matter within a certain range, and everyone will give the right to speak to the market.
"Take 10,000 yuan to make a profit of 10,000 yuan, that's called ability, take a million yuan to make a profit of 10,000 yuan, that's a joke, and the interest is higher than this."
In the CCB Foreign Exchange and Savings Business Department, Zhao Weihua was also talking, and he almost didn't blow up the suggestions of his subordinates to invest extra strength.
Will Thunder lose to CCB Zhao Weihua didn't even think about these things, he casually accepted the transaction offer from Thunder, and then silently prayed that the analysis conclusions within himself and the bank were not wrong.
Thunder is bearish on the bond market, but CCB is bullish, but the reason for CCB's bullishness is that the support of interest rate cuts for the bond market will be higher than the suppressive effect caused by the increase in inflation, however From the beginning to the end, Lei Hao never thought that Thailand would cut interest rates
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