大规模的存款搬家，开始出现了？

Core Viewpoint - The article highlights a significant shift in deposit trends, indicating a movement of funds from traditional bank deposits to non-bank financial institutions, reflecting a more rational approach to investment amidst rising capital market activity [9][10][12]. Group 1: Deposit Data Analysis - In August, new corporate deposits increased by 299.7 billion yuan, a year-on-year decrease of 50.3 billion yuan, while new household deposits were 110 billion yuan, down 600 billion yuan compared to last year [3]. - In July, the stock of household deposits was approximately 1.11 trillion yuan, showing a year-on-year reduction of 780 billion yuan [4]. - Non-bank financial institutions, such as brokerages and funds, saw a significant increase in deposits, with non-bank deposits rising by 1.18 trillion yuan in August, a year-on-year increase of 550 billion yuan [6]. Group 2: Capital Market Dynamics - The movement of deposits from banks to non-bank institutions suggests that funds are being redirected into the capital market as its attractiveness increases [9]. - The current trend indicates that this round of fund migration is more rational, with funds flowing into relatively stable financial products rather than high-risk areas [12][14]. - The total increase in non-bank deposits for the first eight months of the year reached 5.87 trillion yuan, marking a historical high for the same period [8]. Group 3: Future Outlook - The speed of deposit migration is closely linked to the performance of stock indices; a rapid increase in indices could accelerate the movement of funds into the market [19][21]. - The article suggests that the current phase of deposit migration is just the beginning, with a potential for larger scale movements as market conditions evolve [26][28]. - The overall sentiment towards the capital market is directly correlated with the pace of index growth, influencing retail investor behavior [23][25].