Research Of Factors Affecting The Return Rate Of "Yuebao" Money Fund Portfolio

In 2018,"Yuebao" became the monetary fund portfolio through the multi-interface model,and its weighted return rate showed a downward trend throughout the year.In order to study its deep-seated reasons,this paper expounds the connotation change of "Yuebao" products and analyzes its yield rate.It introduces multiple factors to form a time series.Through the empirical analysis methods of multiple regression and variance decomposition of dependent variables,the paper draws the basis.In the conclusion of the statistical results,the decline of financial bond interest rate and stock market is the main contributing factor to the decline of Yuebao's yield.After retrospecting the two factors,we find that the decline of the return on social investment is the economic background,and the formation of this background is highly related to the beginning and end of the development of the "real estate economy".The results of the study provide a theoretical explanation for the fiscal and monetary easing policies implemented by policy makers at present,and point out that "Yuebao" can still improve its income by accessing more monetary funds.At a macro level,to solve the problem of low return on social investment,the key point is to restore the vitality of private economy and traditional industries.