历史收益率远超近期表现 部分银行理财收益展示反差大，有何影响？

Core Viewpoint - Some banks are displaying higher annualized returns for their wealth management products than the actual recent returns, leading to concerns about transparency and accuracy in financial reporting [1][3]. Group 1: Discrepancy in Reported Returns - Investors have reported discrepancies between the annualized returns displayed on bank apps and the actual returns, with some banks showing significantly higher returns since the product's inception compared to recent performance [1][2]. - The discrepancy is attributed to a decline in bond market performance, which has affected the recent yields of wealth management products, while historical yields remain elevated due to previous market conditions [1][3]. Group 2: Regulatory and Compliance Issues - Current regulations do not explicitly prohibit banks from showcasing higher historical returns, which may lead to a preference for displaying more favorable figures [1][4]. - The China Banking Association's guidelines emphasize that past performance should accurately reflect the investment manager's capabilities and inform investors, but the current practices may inflate perceived product performance [4]. Group 3: Market Trends and Performance Analysis - The overall trend in fixed-income assets, which form the basis of many wealth management products, is downward, with recent yields significantly lower than historical averages [3][4]. - For instance, the annualized yield for bonds has dropped to 0.46% year-to-date, while the annualized yield over the past three years is 4.90% [3].