逾百只货基7日年化收益率跌破1%

Core Insights - The yield of money market funds has been declining, with over 100 products having a seven-day annualized yield below 1% as of December 17, indicating a significant shift in the market [1][2] - Despite the low yields, the core value of money market funds as liquidity management tools remains unchanged, catering to investors who prioritize safety and liquidity [2][3] Group 1: Yield Trends - As of December 17, the average seven-day annualized yield for all money market funds is 1.22%, with 102 funds (over 10%) yielding below 1% [1] - The number of funds yielding between 1% and 1.2% has reached 469, making up nearly half of the market [1] - The average yield has decreased from 1.5% at the end of Q1 to 1.25% by the end of Q3, with the number of funds yielding below 1% increasing significantly [1] Group 2: High Yield Anomalies - Some funds, such as Pengyang Tongli Money B and Taiping Daily Gold Money B, have temporarily high yields exceeding 2%, but these are not indicative of normal operations [2][3] - The fluctuations in yields are often due to the realization of floating profits and large redemptions, which are not sustainable over the long term [3] - The seven-day annualized yield is a lagging indicator, and spikes in yield are typically followed by a return to normal levels [3]