美元现金理财收益率跌落至“3字头”

Core Insights - The report highlights the performance of public cash management products issued by financial companies over the past six months, indicating a downward trend in yields for both USD and RMB cash products [5][6]. Group 1: USD Cash Management Products - As of November 27, 2025, there are 30 USD cash management products in existence, primarily investing in low-risk assets such as cash, bank deposits, and USD bonds [5]. - The average annualized yield for USD cash products has dropped to the "3" range, with a six-month average yield of 3.825% [5]. - The Federal Reserve's two rate cuts in September and October 2025, totaling 50 basis points, have contributed to the decline in yields for underlying assets [5]. Group 2: RMB Cash Management Products - There are 5018 RMB cash management products currently in existence, with a six-month average annualized yield of 1.336% [6]. - Only 17 RMB products have yields exceeding 2%, while the number of products with yields below 1% has increased to 23 [6]. - The top-performing RMB cash management products are from Beiyin Wealth Management and Suyin Wealth Management, with average yields of 1.670% and 1.649%, respectively [6]. Group 3: Performance of Specific Products - The "Qiyuan Cash 4号N" from Suyin Wealth Management remains the top product, although its yield has been on a downward trend since mid-October, reaching 2.92% by November 27 [6].