利率上行，债市或可布局，关注十年国债ETF（511260）

Group 1 - Recent interest rates have risen, influenced by the "stock-bond seesaw," suggesting that pullbacks may present good investment opportunities [1] - The "anti-involution" policy has positively impacted market sentiment, but weak demand cannot be improved solely by "controlling prices" [1] - A simultaneous effort on both supply and demand sides is necessary for economic recovery, similar to the previous supply-side reform policies that included monetary support for housing [1] Group 2 - There is a possibility of interest rate cuts and reserve requirement ratio reductions in the second half of the year, with expected cuts of 10 to 20 basis points [1] - If no reserve requirement ratio cut occurs, liquidity may be supported through measures like restarting government bond trading and increasing reverse repos [1] - The ten-year government bond remains a favorable investment option, being the most traded single bond in the market [1] Group 3 - The ten-year government bond ETF (511260) offers three trading advantages: flexible trading with T+0, high collateral utilization with a pledge rate of about 94%, and suitability for arbitrage strategies [1] - Investors are encouraged to continuously monitor investment opportunities in the ten-year government bond ETF (511260) [1]