{"id":30741,"date":"2023-12-07T09:48:55","date_gmt":"2023-12-07T09:48:55","guid":{"rendered":"https:\/\/masterskills.org\/blog\/rui-ro-thanh-khoan-cua-trai-phieu-liquidity-risk-of-bonds-la-gi.html"},"modified":"2023-12-07T09:48:55","modified_gmt":"2023-12-07T09:48:55","slug":"rui-ro-thanh-khoan-cua-trai-phieu-liquidity-risk-of-bonds-la-gi","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/rui-ro-thanh-khoan-cua-trai-phieu-liquidity-risk-of-bonds-la-gi.html","title":{"rendered":"R\u1ee7i ro thanh kho\u1ea3n c\u1ee7a tr\u00e1i phi\u1ebfu (Liquidity Risk of Bonds) l\u00e0 g\u00ec?"},"content":{"rendered":"
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\"Liquidity<\/div>\n
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H\u00ecnh minh h\u1ecda<\/p>\n<\/div>\n<\/div>\n

R\u1ee7i ro thanh kho\u1ea3n c\u1ee7a tr\u00e1i phi\u1ebfu (Liquidity Risk of Bonds)<\/font><\/h2>\n

\u0110\u1ecbnh ngh\u0129a<\/b><\/p>\n

R\u1ee7i ro thanh kho\u1ea3n c\u1ee7a tr\u00e1i phi\u1ebfu<\/b> trong ti\u1ebfng Anh l\u00e0 Liquidity Risk of Bonds<\/b>.\u00a0R\u1ee7i ro thanh kho\u1ea3n c\u1ee7a tr\u00e1i phi\u1ebfu<\/i> li\u00ean quan \u0111\u1ebfn vi\u1ec7c nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u1ea3i b\u00e1n tr\u00e1i phi\u1ebfu v\u1edbi gi\u00e1 th\u1ea5p h\u01a1n gi\u00e1 tr\u1ecb th\u1ef1c c\u1ee7a n\u00f3 ho\u1eb7c kh\u00f4ng th\u1ec3 thanh l\u00ed tr\u00e1i phi\u1ebfu \u0111\u01b0\u1ee3c.<\/p>\n

R\u1ee7i ro thanh kho\u1ea3n c\u1ee7a tr\u00e1i phi\u1ebfu c\u0169ng c\u00f3 th\u1ec3 hi\u1ec3u l\u00e0 r\u1ee7i ro m\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 kh\u00f4ng b\u00e1n \u0111\u01b0\u1ee3c tr\u00e1i phi\u1ebfu c\u1ee7a m\u00ecnh m\u1ed9t c\u00e1ch nhanh ch\u00f3ng do th\u1ecb tr\u01b0\u1eddng c\u1ee7a tr\u00e1i phi\u1ebfu \u0111\u00f3 qu\u00e1 nh\u1ecf v\u1edbi ch\u1ec9 v\u00e0i ng\u01b0\u1eddi mua v\u00e0 b\u00e1n.<\/p>\n

Thu\u1eadt ng\u1eef li\u00ean quan<\/font><\/h3>\n

Tr\u00e1i phi\u1ebfu (Bonds)<\/b> l\u00e0 lo\u1ea1i ch\u1ee9ng kho\u00e1n c\u00f3 thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh, n\u00f3 \u0111\u1ea1i di\u1ec7n cho m\u1ed9t ngh\u0129a v\u1ee5 t\u00e0i ch\u00ednh c\u1ee7a ch\u1ee7 th\u1ec3 ph\u00e1t h\u00e0nh, v\u1edbi l\u1eddi h\u1ee9a s\u1ebd thanh to\u00e1n m\u1ed9t kho\u1ea3n ti\u1ec1n x\u00e1c \u0111\u1ecbnh v\u00e0o m\u1ed9t ng\u00e0y c\u1ee5 th\u1ec3 trong t\u01b0\u01a1ng lai.<\/p>\n

Ch\u00eanh l\u1ec7ch gi\u00e1 mua v\u00e0 gi\u00e1 b\u00e1n (bid and ask spread)<\/b> l\u00e0 ph\u1ea7n v\u01b0\u1ee3t qu\u00e1 c\u1ee7a gi\u00e1 ch\u00e0o b\u00e1n so v\u1edbi gi\u00e1 ch\u00e0o mua c\u1ee7a m\u1ed9t t\u00e0i s\u1ea3n tr\u00ean th\u1ecb tr\u01b0\u1eddng.<\/p>\n

Ch\u00eanh l\u1ec7ch gi\u00e1 mua\u00a0–\u00a0gi\u00e1 b\u00e1n\u00a0v\u1ec1\u00a0c\u01a1 b\u1ea3n ch\u00ednh l\u00e0 s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa gi\u00e1 cao nh\u1ea5t m\u00e0 ng\u01b0\u1eddi mua mu\u1ed1n mua v\u1edbi gi\u00e1 th\u1ea5p nh\u1ea5t m\u00e0 ng\u01b0\u1eddi b\u00e1n mu\u1ed1n b\u00e1n.<\/p>\n

Nguy\u00ean nh\u00e2n<\/font><\/h3>\n

–\u00a0R\u1ee7i ro thanh kho\u1ea3n c\u1ee7a tr\u00e1i phi\u1ebfu<\/b> ch\u1ecbu t\u00e1c \u0111\u1ed9ng b\u1edfi nhi\u1ec1u y\u1ebfu t\u1ed1: do ho\u1ea1t \u0111\u1ed9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng s\u01a1 c\u1ea5p t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p, do ch\u1ee7 th\u1ec3 ph\u00e1t h\u00e0nh, do chi ph\u00ed giao d\u1ecbch cao, do ch\u00ednh s\u00e1ch thu\u1ebf c\u1ee7a Nh\u00e0 n\u01b0\u1edbc…<\/p>\n

\u0110\u1eb7c tr\u01b0ng<\/font><\/h3>\n

– \u0110o l\u01b0\u1eddng thanh kho\u1ea3n tr\u00ean th\u1ecb tr\u01b0\u1eddng s\u01a1 c\u1ea5p ch\u00ednh l\u00e0 s\u1ef1 ch\u00eanh l\u1ec7ch gi\u1eefa c\u00e1c m\u1ee9c gi\u00e1 ch\u00e0o mua v\u00e0 ch\u00e0o b\u00e1n (the bid and ask spread) c\u1ee7a c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0, nh\u00e0 m\u00f4i gi\u1edbi. S\u1ef1 ch\u00eanh l\u1ec7ch (spread) n\u00e0y c\u00e0ng l\u1edbn th\u00ec r\u1ee7i ro thanh kho\u1ea3n c\u00e0ng cao.<\/p>\n

– \u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u1ecbnh n\u1eafm gi\u1eef tr\u00e1i phi\u1ebfu cho \u0111\u1ebfn khi \u0111\u00e1o h\u1ea1n th\u00ec r\u1ee7i ro thanh kho\u1ea3n l\u00e0 kh\u00f4ng \u0111\u00e1ng k\u1ec3.<\/p>\n

Tuy nhi\u00ean v\u1edbi c\u00e1c nh\u00e0 qu\u1ea3n l\u00ed danh m\u1ee5c \u0111\u1ea7u t\u01b0 v\u00ec ph\u1ea3i th\u01b0\u1eddng xuy\u00ean theo d\u00f5i v\u00e0 \u0111\u00e1nh gi\u00e1 l\u1ea1i c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 theo gi\u00e1 th\u1ecb tr\u01b0\u1eddng, n\u00ean r\u1ee7i ro thanh kho\u1ea3n c\u00f3 th\u1ec3 d\u1eabn t\u1edbi nh\u1eefng k\u1ebft qu\u1ea3 kh\u00f4ng nh\u01b0 mong \u0111\u1ee3i, h\u1ecd bu\u1ed9c ph\u1ea3i t\u1ea1o ra nh\u1eefng v\u1ecb th\u1ebf mua b\u00e1n c\u00e1c t\u00e0i s\u1ea3n kh\u00e1c nhau \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o cho danh m\u1ee5c \u0111\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 hi\u1ec7u qu\u1ea3 nh\u1ea5t.<\/p>\n

– R\u1ee7i ro thanh kho\u1ea3n c\u00f3 th\u1ec3 thay \u0111\u1ed5i theo th\u1eddi gian.<\/p>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o: Gi\u00e1o tr\u00ecnh Th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh v\u00e0 c\u00e1c \u0111\u1ecbnh ch\u1ebf t\u00e0i ch\u00ednh, NXB Kinh t\u1ebf Th\u00e0nh ph\u1ed1 H\u1ed3 Ch\u00ed Minh;\u00a0Investopedia)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n R\u1ee7i ro thanh kho\u1ea3n c\u1ee7a tr\u00e1i phi\u1ebfu (ti\u1ebfng Anh: Liquidity Risk of Bonds) li\u00ean quan \u0111\u1ebfn vi\u1ec7c nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u1ea3i b\u00e1n tr\u00e1i phi\u1ebfu v\u1edbi gi\u00e1 th\u1ea5p h\u01a1n gi\u00e1 tr\u1ecb th\u1ef1c c\u1ee7a n\u00f3 ho\u1eb7c kh\u00f4ng th\u1ec3 thanh l\u00ed tr\u00e1i phi\u1ebfu \u0111\u01b0\u1ee3c.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30741"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=30741"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30741\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}