什么是债市“核心资产”

Group 1 - The core asset in the stock market is the CSI 300 index, recognized for its strong representation, high market acceptance, active trading, and large allocation [1] - The bond market has not experienced the anticipated bull market in the first half of the year, instead showing a "V-shaped" fluctuation due to various factors including changes in monetary policy and liquidity [3][4] - The 10-year government bond yield reached a high of 1.90% in March before stabilizing around 1.66% by July 10, 2025, indicating a return to a more stable environment [3][6] Group 2 - The external environment, including tariff policies and domestic economic factors, suggests a favorable environment for the bond market in the second half of the year, with expectations of a downward trend in bond yields [6][7] - The 10-year government bond is considered the core asset of the bond market, widely accepted as a benchmark for measuring interest rates and market yields [8] - The 10-year government bond ETF (511260) has shown consistent positive returns since its inception in August 2017, making it suitable for investors seeking stability [9][12] Group 3 - The 10-year government bond ETF offers advantages such as T+0 trading, low management fees of approximately 0.2% per year, and transparency in holdings, making it an attractive option for investors [12] - The rapid growth of the 10-year government bond ETF, surpassing 15 billion, reflects the market's recognition of this core asset [12]