银行理财产品周数据：股市吸金，银行理财是否会进入赎回负反馈？

Investment Rating - The report does not explicitly provide an investment rating for the banking wealth management industry Core Insights - The stock market has shown strong performance, with the Shanghai Composite Index increasing by 21.91% and the Wind All A Index rising by 26.30% during the week ending September 30, 2024, leading to concerns about potential negative feedback effects on wealth management products due to stock market capital absorption and bond market adjustments [1][8] - The wealth management product scale decreased by 962.8 billion to 28.91 trillion yuan, which is consistent with seasonal adjustments observed in the past three years [1][8] - Post-holiday, there was a noticeable redemption of wealth management products, with a redemption ratio around 2%, which is lower than the 5% observed in the previous year, indicating no immediate liquidity risks [1][8] Summary by Sections 1. Stock Market Impact on Wealth Management - The stock market's strong performance has raised concerns about potential negative feedback effects on wealth management products due to capital absorption from the stock market and adjustments in the bond market [1][8] - The wealth management scale saw a decrease of 962.8 billion yuan, aligning with historical seasonal trends [1][8] 2. Cash Management Product Yields - As of October 6, 2024, the annualized yield for cash management products was 1.71%, a decrease of 7 basis points from the previous week, while money market funds yielded 1.54%, down 10 basis points [9] 3. Performance Review of Wealth Management Products - The annualized yield for daily open fixed-income non-cash wealth management products was 2.25%, down 30 basis points from the previous week [10] - The annualized yield for closed 6-12 month fixed-income products was 3.43%, down 16 basis points, while the yield for closed 1-3 year fixed-income products increased by 57 basis points to 4.07% [10] 4. Redemption and Compliance Rates - During the week of September 23-29, 2024, the scale of maturing wealth management products was 455.1 billion yuan, with an average compliance rate of 55% [13] - Closed products showed a higher compliance rate of 79%, outperforming the overall compliance rate [13]