跷跷板效应显现部分债基遭遇大额赎回

Group 1 - The core viewpoint of the articles highlights a significant "see-saw effect" between the stock and bond markets, with the A-share market recovering while the bond market faces continuous adjustments, leading to substantial redemptions in bond funds [1][2][3] - As of July 25, pure bond funds have shown an average loss of -0.11% since July began, with less than 35% of products achieving positive returns, indicating a challenging environment for bond fund performance [2][3] - A total of 36 bond funds have raised their net asset value precision due to large redemptions since July, with the redemption intensity on July 24 being notably stronger than in February of this year, suggesting a trend of increasing investor caution [2][3] Group 2 - The recent pressure on the bond market is attributed to rising risk appetite in the stock and commodity markets, which has led to increased bond yields and affected the net values of some fixed-income funds [3][4] - Despite concerns about a potential ongoing redemption wave in bond funds, analysts believe that the current situation is primarily driven by precautionary measures from asset management institutions, and there is no significant outflow of retail funds from bond investments [4][5] - The outlook for the bond market remains cautiously optimistic, with expectations that it will find a new equilibrium amid adjustments, while emphasizing the importance of liquidity management and defensive strategies in the short term [5]