The Convertible Bond Market Continued To Expand And The Stock Size Exceeded 860 Billion Yuan Within The Year

Since the beginning of this year, the convertible bond market has continued to expand. As of June 27, the stock size of convertible bonds in the Shanghai and Shenzhen stock markets has reached 860.654 billion yuan, an increase of 21.831 billion yuan compared to the beginning of the year. In terms of market performance, the volatility of the convertible bond market has intensified since the beginning of this year, but the performance of new bonds on their first day of listing remains stable and there has been no breakthrough. "In the first half of this year, the convertible bond market faced many uncertainties, such as the 'unexpected and reasonable' events like the delisting and redemption risk of low price bonds, and the impact of the sharp adjustment of the conversion price of high price bonds." Mingming, the chief economist of CITIC Securities, said that from the perspective of positive shares, some convertible bonds were dominated by theme speculation, driving the structural market of convertible bonds. The result of this is that convertible bond investment has entered the deep water zone, and the differentiation of individual bond yields continues to increase. There are high-quality individual bonds in the convertible bond market at every time period, but the ability to grasp them further tests investors' ability to choose bonds.