债基如何穿越波动周期？东财基金宝音：通胀与房价连续回升是转向关键信号

Core Insights - The article emphasizes the importance of timing, drawdown control, and flexibility as core competencies in navigating risks within the bond market [1][5][6] - The investment philosophy of the company is centered around the principle that "investment is the only standard to test research" [5][10] Group 1: Investment Philosophy - The company believes that practical experience in trading is essential for validating research and investment strategies [2][5] - The investment approach is built on three key concepts: timing, drawdown control, and flexibility, which are interdependent and form a comprehensive methodology [6][7] Group 2: Market Strategy - The company recognizes the challenges of predicting market movements in the short term but maintains that a clear understanding of uncertainty allows for resilient strategies [2][9] - The current bond market is viewed as having upward potential, with the company identifying key signals such as inflation and housing prices as indicators for market direction [8][9] Group 3: Team Collaboration - The company employs a differentiated management strategy among its fund managers, allowing for independent decision-making while maintaining a unified strategic framework [7] - The use of futures for hedging is highlighted, with a distinction made between short-term risk management and mid-term hedging strategies [7][9] Group 4: Market Outlook - The company anticipates that the bond market will face upward pressure due to ongoing trade tensions and economic conditions, which provide a fundamental support for bond prices [9][10] - The company advises that ordinary investors should engage with the bond market through bond funds rather than direct participation in high-risk derivatives [10]