Group 1 - The core viewpoint of the articles indicates that the bond market is experiencing adjustments, with the 10-year and 30-year government bond yields reaching new highs, influenced by the issuance of bonds at higher-than-expected rates [1] - The stock market's recent rise above 3500 points has caused short-term disturbances in the bond market, but the differing risk preferences of funds directed towards stocks and bonds suggest minimal crowding out effects [1] - The negative correlation between the Shanghai Composite Index and the 10-year bond yield over the past two years indicates that the interaction between the stock and bond markets is weak, contributing to a dual bull market in both [1] Group 2 - Looking ahead, the current round of anti-involution may raise commodity prices but could also lead to business exits, with the central bank expected to maintain a loose monetary policy to support economic activity [3] - From a valuation perspective, the 10-year government bond yield around 1.70% presents a good allocation value, and investors are advised to continue monitoring the 10-year bond ETF [3]
资金面预计维持宽松，关注十年国债ETF（511260）
Sou Hu Cai Jing·2025-07-15 02:08