金融和理财市场11月报：ETF加速扩容，券商版跨境理财通上线

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The financial market has shown a mixed performance post-National Day, with both stock and bond markets experiencing fluctuations. The 1-year government bond yield rose to 1.42% by the end of October, up 5.88 basis points from the end of September [1][9] - The issuance of wealth management products in October reached 306.1 billion yuan, a 7.65% increase from September, with wealth management companies dominating the market [1][19] - Public fund net value reached 31.62 trillion yuan by the end of October, with significant growth in stock funds driven by ETF issuance [1][23][25] - The cross-border wealth management program 2.0 was launched, with significant growth in the number of participants and cross-border fund transfers [1][19] Summary by Sections Financial Market Overview - Post-holiday policies have shifted market sentiment, leading to a mixed performance in both stock and bond markets. The "North Certificate 50" index saw a notable increase of 43.8% by the end of October [1][12] - Market trading volume remains high, indicating sustained investor interest, with new fund issuance showing a significant increase, particularly in stock funds [1][7] Bank Wealth Management - The total outstanding scale of bank wealth management products reached 29.32 trillion yuan by the end of October, with fixed-income products dominating the market [1][14] - The performance benchmark for wealth management products has continued to decline, with the overall benchmark dropping to 2.76% [1][19] Resident Savings - By the end of September, total savings reached 148.84 trillion yuan, reflecting a 1.5% month-on-month increase. However, a slowdown in savings growth is anticipated due to recent interest rate cuts [1][20][21] Public Funds - The public fund market saw a net value increase of 4.4 trillion yuan since the beginning of the year, with money market funds leading in scale [1][23] - Stock fund issuance in October reached a record high, surpassing bond fund issuance for the first time this year, indicating a shift towards equity asset allocation [1][25] Trust Products - Trust products maintained a stable issuance level, with a significant portion of new issuances being securities investment trusts [1][19] Cross-Border Wealth Management - The cross-border wealth management program has seen a substantial increase in participants and fund transfers, indicating growing interest in cross-border investment opportunities [1][19]