新三板

The new SanBan

　　@陈栎枫：新三板扩容以后对目前集中于中小板、创业板的市场供应会产生一定的分流，类似的企业上市渠道将不再唯一，上市稀缺性会降低。从这个角度来讲，它会有效缓解当前A股市场比较大的IPO压力。

@ Chen oak maple:The new SanBan flash after currently focused on small and medium-sized plate/Gem market supply will produce certain shunt,Similar enterprise listed channel will no longer the only,Listed scarcity will reduce.From this perspective,It will effectively ease the current a-share market IPO bigger pressure.

　　@飘若浮云：目前，新三板企业挂牌并不融资，短期而言，大量企业挂牌并不会分流太多A股市场资金。但是，挂牌的企业可以通过定向增资的方式从新三板市场融资。所以，挂牌公司越多，定增融资的也就越多，未来还是会分流一部分资金，这对A股投资者心理层面的打击很大。

@ floating drift:At present,The new SanBan enterprise listing is not financing,In the short term,A large number of enterprise listed will not split too much a-share market funds.but,Listed company through the orientation of the new SanBan capital market financing way.so,Listed company more,Constant increase financing are also more,The future will split a part of the capital,The A shares investors psychological blow.

　　@何兴华：新三板的发展潜力很大，有估值较低的高成长公司，但风险远高于创业板，监管层设置了较高的投资门槛。新三板可以“淘金”，但当前的投资价值洼地仍在主板，具有罕见投资价值的还是蓝筹股。虽然新三板分流资金的担心存在，但只要其扩容循序渐进，短期对主板“难掀大浪”。

@ HeXingHua:The development of new SanBan great potential,A low valuations high growth companies,But the risk is much higher than gem,Supervision layer set higher investment threshold.The new SanBan can"gold",But the current investment value depression is still in the motherboard,Has the rare investment value or blue chip.Although the new SanBan shunt funds concerned about,But as long as the flash step by step,Short-term on the main board of the"Difficult to lift the".

　　B股

B shares

　　@幺西西：沪市B股时隔7年再现15连阳。很多人都在问，B股为什么会大涨？其实，B股上涨并不需要什么理由。长期以来绝大多数B股的价格要低于A股，如果所有B股都成功转为H股的话，存在一倍以上的溢价空间。在转板及其他有关B股改革的预期下，越来越多的B股价格会超过对应的A股价格。

@ MAO and:Shanghai B shares after 7 years representation and even Yang.Many people are asking,B shares rose why?In fact,B shares rise do not need any reason.For A long time the vast majority of B shares is lower than the price of A share,If all B shares are successful to H share words,There is a times more premium space.In turn plate and other relevant B shares reform under the expected,More and more B shares the price will be more than the corresponding A share price.

　　@曹忠：本周B股终结15连阳，出现回调，但随着B转H的预期增强，B股未来仍然有一定空间。由于本轮反弹的逻辑是建立在经济趋势好转的基础上，只要该逻辑继续成立，无论是B股还是A股，中期趋势仍偏乐观，投资者可以利用整理期多加关注绩优成长品种以及A、B股价差较大的品种。

@ CaoZhong:B shares this week end and even Yang,Appear callback,But as the B turn H expected to strengthen,B shares in the future there is still a certain space.Because of this the bounce of the logic is built on the basis of better economic trends,As long as the logic continue to exist,Whether B shares or A share,The medium term trend is still partial optimistic,Investors can use finishing period more attention performance optimal growth and A variety/B share price difference greater variety.

　　债券ETF

Bond ETF

　　@阿童木：由于国债ETF的流动性比较好，其债券组合作为负债现金流对冲工具的功能，超过了获取超额收益的投资功能，因而国债ETF为机构投资者进行负债管理或大类资产配置提供了明显的便利，它也将进一步推动债券市场的快速发展。

@ astro boy:Due to the national debt ETF liquidity is better,The bond combination as a liability cash flow hedging tool function,More than get excess profits of investment function,Therefore national debt ETF for institutional investors to liability management or kinds of asset allocation provides significant convenience,It also will further promote the rapid development of the bond market.

　　@冰凝：国债ETF来了，获批后会弥补很多市场空白，相当于给投资者一个更大的空间。具备跨市场投资能力的投资者，可以有效利用银行间国债、交易所国债、国债ETF三者之间的定价差异进行套利活动，这有助于抹平两个市场间的定价差异，提升交易所债券市场的活跃度。

@ ice setting:Treasury bonds to the ETF,After approved will make up for a lot of gap in the market,Equivalent to give investors a bigger space.Have the ability of investors across the market investment,Can effectively use between bank debt/Exchange Treasury/National debt ETF between the three pricing differences arbitrage activities,This will help trowelling two market pricing differences between,Ascension exchange the bond market active degree.

　　（益楠 整理）

(Profit nan finishing)