Unwittingly, the popular science series of bond knowledge has been updated to issue 4, and in previous issues, Niuniu demonstrated the operation of the bond market, the reading rules of the bond prospectus, and the macro influence of the Federal Reserve. So, do you feel like you're one step closer to a bond connoisseur?

With so much knowledge, Niuniu will take you to PICK a bond that suits you, so let's talk about how the bonds are classified.

When it comes to the classification of bonds, it is really a broad and profound knowledge. At the risk of persuading you to quit, let me show you a picture.

How's it going? are you going to get dizzy? There are many kinds of bonds, and the classification methods also have their own reasons. Niuniu knows that everyone is so lazy (deducting wages! ), so here is a special bond constellation manual, come and see which bond is right for you!

01 Interest rate debt-- the first choice for conservative and pragmatic constellation investors

As the most practical of the four constellations, the earth sign will not put itself on the edge of the cliff at any time. When investing in bonds, they also follow a consistent low-key and pragmatic style, with low risk as the top priority. Therefore, the "interest rate debt" with national credit endorsement is their best choice.

Interest rate bonds are bonds mainly affected by benchmark interest rates, including treasury bonds, local government bonds, policy bank bonds and central bank bills. The issuer is the state or the government.

With his powerful father on his back, there is no need to worry that they will not be able to pay back the money. Investment interest rate debt can be said to be as stable as a rock, and the probability of credit default is extremely low, but it may also be affected by macroeconomic conditions, interest rate changes and inflation. Of course, low risk is accompanied by low yields. After all, God opens a window for you and must close a door. (poisonous chicken soup warning! )

In China, the national debt is guaranteed by the national financial reputation. With its extremely high credit safety rating, good liquidity and stable returns, it occupies a place in the prosperous bond market and won the crown of "gilts".

However, the purchase of interest rate bonds should be laid out in advance, after all, it is not an easy thing to buy with my uncle and aunt battle in line.

02 Credit debt-an adventurous and competitive fire sign investment player preference

The Fire constellation, who adheres to the concept of "earning one day and risking one day", is famous for his amazing drive and courage. As a member of the fire sign, Li Ka-shing praises "big money, big investment, big profit." In terms of bond investment, low-yielding interest-rate debt is not their type at all, and it may be labeled as a "pension product". In contrast, credit bonds with sizeable yields are more popular.

Credit debt, as the name implies, in addition to the interest rate, the issuer's credit (debt repayment ability) is an important factor affecting this kind of bonds. There are many kinds of credit bonds, the most common ones include financial bonds, corporate bonds, corporate bonds, medium-term notes and so on.

Financial bonds are bonds issued by banks and other financial institutions, including securities corporate bonds, insurance corporate bonds, commercial bank bonds and so on. They are often classified as corporate bonds in Europe and the United States. Because the credit rating of the boss behind is relatively high, the risk of default is smaller and safer. Although the yield is at the bottom of the whole credit family, it is also higher than the interest rate of treasury bonds and bank deposits. It is suitable for junior adventurers who want to try it.

Corporate bonds and corporate bonds sound like twin brothers. There is no difference between the two countries in Europe and the United States, but there is still a difference in the domestic bond market. Most of the issuers of corporate bonds are "big brother" enterprises with a national brand background, which are supervised by the National Development and Reform Commission, while corporate bonds are issued by joint-stock companies and limited companies and regulated by the Securities Regulatory Commission.

The yield on credit debt is often very attractive, which makes people "one after another" for this, but God has opened it for you.

The reason why credit debt is also called "unsecured risk" is that you need to bear a certain credit risk, accidentally and even have the danger of losing capital. As for how to avoid this kind of risk, Niuniu will tell you in the following article.

03 Bond Fund-- the third option

The non-extreme investors in front of the screen wonder whether this is not as conservative as the Earth constellation investors, but also unwilling to battle with the adventurous fire sign. In the end, it is really too complicated to buy a bond to weigh the risk and profit. As a lazy (cross out! For busy small investors, it is quite difficult to get a huge return by investing in a single bond, and it takes luck. So is there no place for small investors in the bond market?

In fact, in addition to buying and selling bonds directly, you can also enter the bond market by buying bond funds. This is really the first choice for the wind sign of intelligence and wisdom and the water sign that is good at observing words and colors.

On the one hand, the professional team of fund companies will fully investigate all kinds of bonds in the market and select the best bond portfolio, such as investing in foreign currency bonds, which is simply a "international one-stop service for making money". On the other hand, the fund team does not put eggs in one basket, so the "widely spread debt base method" is easier to spread risk to achieve sustainable returns.

Conclusion

A wide variety of bond markets are a battlefield of courage and wisdom, and no matter what type of astrological investor you are, you can't forget the delicate relationship between returns and risks. Compared with direct bond trading, buying bond funds optimizes the combination of risks and returns, which is a more convenient and worry-free choice.

Spoiler time:Next, Niuniu will take you into the value world of bonds and see how bonds bring returns.

To understand the investment of bond funds, come to the series of "playing the bond market". The articles are full of practical information.