机构预计降准降息有望很快落地，30年国债ETF(511090)交投活跃，早盘成交额超63亿元

Core Viewpoint - The news highlights the performance and liquidity of the 30-year government bond ETF, indicating a mixed market response and ongoing investor interest in long-term bonds amid changing monetary policy dynamics [1][2][3]. Group 1: Market Performance - As of April 10, 2025, the majority of government bond futures have declined, with the 30-year main contract down by 0.32% and the 10-year main contract down by 0.05% [1]. - The 30-year government bond ETF (511090) has decreased by 0.20%, with the latest price at 125.32 yuan [1]. - The trading volume for the 30-year government bond ETF was active, with a turnover of 39.02% and a total transaction value of 6.392 billion yuan [1]. Group 2: Fund Flows and Leverage - The latest scale of the 30-year government bond ETF reached 16.444 billion yuan [2]. - Over the past 22 trading days, there have been net inflows on 14 days, totaling 1.859 billion yuan, with an average daily net inflow of 84.4913 million yuan [2]. - The latest margin buying amount for the 30-year government bond ETF is 365 million yuan, with a financing balance of 245 million yuan [2]. Group 3: Monetary Policy Insights - According to Guosheng Securities, the central bank's monetary policy has evolved significantly since 2020, with economic fundamentals, exchange rates, and market volatility being key considerations [3]. - The central bank's policy framework has shifted towards a more nuanced approach, balancing multiple objectives and tightening liquidity in response to economic pressures [3]. - Looking ahead, increased export pressures and a potential acceleration in government bond issuance may lead to imminent rate cuts [3]. Group 4: ETF Characteristics - The 30-year government bond ETF closely tracks the China Bond 30-Year Government Bond Index, which includes publicly issued bonds with maturities of 25-30 years [4]. - The ETF is considered a valuable tool for portfolio management, offering low trading thresholds and high trading efficiency, with a minimum transaction unit of 100 shares, approximately 10,000 yuan [4]. - Multiple market makers provide liquidity for the ETF, ensuring immediate transaction execution and ample market depth [4].