美联储按兵不动，0-4地债ETF(159816)横盘震荡

Group 1 - The core viewpoint of the news is that the 0-4 government bond ETF (159816) is experiencing a stable market with a recent price of 113.75 yuan and a notable performance over the past year and three years, with increases of 2.59% and 9.19% respectively [1] - The liquidity of the 0-4 government bond ETF is active, with a turnover rate of 71.43% and a trading volume of 1.269 billion yuan, indicating strong market engagement [1] - The latest Federal Reserve decision maintains the federal funds rate target range at 4.25%-4.5%, aligning with market expectations, and this marks the fourth consecutive month of rate stability [1] Group 2 - It is anticipated that the supply of government bonds will slow down in the second half of the year, easing pressure on the bond market, while demand remains strong due to banks' investment pressures and insurance fund requirements [1] - The 0-4 government bond ETF closely tracks the CSI 0-4 Year Local Government Bond Index, which consists of non-directional local government bonds with a remaining maturity of four years or less, calculated using a market capitalization weighting [2] - The 0-4 government bond ETF is positioned as the only short-duration local government bond ETF in the market, making it suitable for investors as a cash management tool [3]