1.原文连结:
https://reurl.cc/lV2Za6
2.原文内容:
United States Oil Fund Receives Green Light to Issue New Shares
By Reuters June 12, 2020
USO's registration of 1 billion new shares has been declared effective by the
Securities and Exchange Commission, the fund said, and hence it can once again
allow authorized purchasers, or market makers for exchange-traded products, t
o issue new USO shares.
USO shares were little changed on Friday at $26.35.
On April 21, the fund stated that it had issued all of its registered shares a
nd was thus suspending the creation of new shares. As a result of the suspensi
on, there was a significant discrepancy between the fund's trading price and t
he performance of the oil futures it held.
Following a sharp plunge in oil, in which expiring May U.S. crude contracts tr
aded at negative prices, USO took in heavy inflows from investors betting on a
rebound.
Oil prices have in fact risen substantially since then. Even with losses this
week, U.S. crude was trading near $36 a barrel on Friday, about $10 higher tha
n a month ago.
Even so, because later-dated oil futures are currently trading at higher price
s than nearer-dated futures - a phenomenon called contango - USO's structure r
equires it to sell cheaper futures to buy more expensive ones as nearer-dated
contracts expire. As a result, investors who hold USO could wind up with losse
s.
3.心得/评论:
虽然不是"很新的新闻" 但还是分享一下
USO被停至少8周不得新增单位期间,被唯一期货商RBC暂停买期货合约,USO (不得不找合
作商) 5/28新增合作期货经纪商-Marex Spectron
现在这时候又准它再增新单位(赌盘再开)
不过持有合约还是继续跨月,目前最多还是12月的
还是分享一下Fed Observer的评论
对最后他的疑问也是心有戚戚…
https://youtu.be/lF_qjCeGkqY
什么都包进ETP,你看似"公开交易流动性很好",retail就通通可以交易,结果背后他挂
钩的是别的商品市场,流动性又是另一回事,但是个人造业个人担 。面向大众的公募基
金不开放商品(黄金.能源.地产),只能投公司股票,但包成ETP就可以了。
再核准新赌盘,不代表买了一定又贴近真实油价,还是要劝世一下,不要买了忘记
想个矛盾心里,摆长无法避免多数时期的contango,即使有时会补血,但哪个心里不是希
望长期看好未来油价上涨,那为什么要期待靠时间然后遇到补血情况。
下面来源是bloomberg文章,截图来源:https://reurl.cc/8GR587
主要重点在,当WTI今年来下跌40%时,USO价值蒸发70%…。
https://i.imgur.com/y3mJz1U.jpg
影片也有 比较 XOM vs USO 走势,当作劝世,其实板上之前也有很多人作这样的衡量,
因为还是看到身边很多人跳入这档商品的情况,还是提供一下资讯参考。
https://i.imgur.com/CAPWfRd.jpg