Core Viewpoint - Multiple dollar-denominated wealth management products have been terminated early due to achieving performance targets, raising questions about their future investment value. Despite this, market enthusiasm for dollar-denominated products remains high, with issuance volumes continuing to rise [1][4]. Group 1: Early Termination of Dollar Wealth Management Products - Several dollar-denominated wealth management products, including the "Zhaoyin Wealth Management Zhaorui Dollar Overseas QDII" product, have been terminated early after reaching their target annualized return of 4.2% within just 7 months, compared to an original plan of 18 months [2][3]. - The early termination of these products is seen as beneficial for banks, allowing investors to lock in profits and enhancing the banks' reputation for market analysis and asset allocation [3]. Group 2: Growth in Issuance of Dollar Wealth Management Products - Despite some products being terminated early, the issuance of dollar-denominated wealth management products continues to rise, with a total of 161 new products launched in June, marking a peak for the first half of the year [4]. - As of July 17, 2023, the total scale of dollar-denominated wealth management products has surpassed 500 billion RMB, indicating strong market demand [4]. Group 3: Investment Value and Market Outlook - In the short term, dollar-denominated wealth management products still offer attractive yields compared to RMB-denominated products, primarily due to high U.S. base interest rates [7]. - However, long-term investment value may decline due to increasing expectations of interest rate cuts by the Federal Reserve, which could lead to lower yields and potential currency depreciation risks [8].

Core Viewpoint - The article discusses the recent trend of early termination of several dollar-denominated wealth management products due to achieving performance targets, while the market interest in these products remains high. The total outstanding scale of dollar wealth management products has surpassed 500 billion RMB, and despite short-term advantages in returns compared to RMB products, long-term investment value may decline due to expectations of interest rate cuts by the Federal Reserve [1][5][11]. Group 1: Early Termination of Dollar Wealth Management Products - Several dollar wealth management products, such as the "Zhaoyin Wealth Management Zhaorui Dollar Overseas QDII" product, have been terminated early after reaching their profit targets, with some ending 18 months ahead of schedule [3][4]. - These products typically invest in fixed-income assets like bank deposits and U.S. Treasury bonds, with a risk level classified as PR2 (medium-low risk) and a target annualized return of 4.2% [3][4]. - The early termination allows banks to lock in profits for investors and enhances their credibility in market analysis and asset allocation [4]. Group 2: Growth in Dollar Wealth Management Product Issuance - Despite some products being terminated early, the issuance of dollar wealth management products continues to rise, with a total of 161 new products launched in June, marking a new high for the first half of the year [6]. - As of July 15, 2023, the total number of newly issued dollar wealth management products reached 68, showing sustained market interest [6]. - The total outstanding scale of these products exceeded 500 billion RMB as of July 17, 2023, indicating robust market demand [7]. Group 3: Investment Value and Market Outlook - Short-term, dollar wealth management products still offer attractive returns compared to most other investment products, with average annualized returns around 4% [7][8]. - However, with increasing expectations of interest rate cuts by the Federal Reserve, the long-term investment value of these products may decline, and potential currency depreciation could further compress actual returns [10][11]. - Investors are advised to carefully assess interest rate, exchange rate, and policy risks when considering investments in dollar wealth management products [11].