The "butterfly effect" of convertible bonds in banks is emerging, fixed income + products have no choice but to find new bottom positions.

Since the second quarter, there has been a noticeable trend of concentrated conversion of convertible bonds in the banking industry. Recently, Nanjing Bank issued a notice indicating that the "Nan Yin Convertible Bonds" may meet the redemption conditions, making it the latest addition to the team of convertible bonds in the banking industry after Hangzhou Bank. Industry insiders have stated that the accelerated conversion of convertible bonds in the banking industry is beneficial for banks in supplementing Tier 1 capital. At the same time, it will also create a "butterfly effect" in asset allocation, increasing the scarcity of investment targets for products such as "fixed income +" etc.