WMP Data Through May 9: Still Ample Demand and Rates Continue to Drop, But Investors Still Prefer Short Maturity

Data from 金牛理财. The first chart is the 金牛 WMP Yield Index, which shows rates continue to trend lower in the WMP market. Yields came down on almost across the board this week, but the yield spreads remain in a generalized uptrend, most clearly the spread between shorter and longer maturities.

Here is the yield on large and state-owned bank products (yellow) versus small and medium banks (orange) and the spread (blue).

Here's the yield guaranteed (yellow) versus non-guaranteed (orange) and the spread (blue).

Here is short maturity yields (yellow) versus medium and long maturity (orange) and the spread (blue).