债券基金净值整体回落！多只纯债基金短期跌幅超过1%

Core Viewpoint - The bond market has experienced adjustments due to rising bond yields influenced by "anti-involution" policies and increasing commodity prices, while the A-share market has shown signs of recovery, leading to a "see-saw" effect between stocks and bonds [1][3]. Group 1: Market Adjustments - Since July 21, bond market interest rates have risen sharply, with the 10-year government bond yield increasing from 1.66% to 1.75%, and the 30-year yield surpassing 1.99% [3]. - The adjustment in the bond market is attributed to multiple factors, including the introduction of "anti-involution" policies and rising expectations for industrial commodity prices, which have led to a passive adjustment in the bond market [3][4]. - As of August 1, the 10-year government bond yield has retreated to around 1.69%, and the 30-year yield has decreased to approximately 1.95% [3]. Group 2: Fund Performance - According to Wind statistics, from July 21 to August 1, the average return of pure bond funds, including medium- and short-term bond funds and bond index funds, was -0.12%, with nearly 80% of bond funds reporting negative returns [5][6]. - Nine funds experienced a decline of over 1%, with notable losses in funds such as Debon Ruiyu Rate Bond A (-1.37%), Huatai Baoxing Zunyi Rate Bond 6-Month Holding A (-1.30%), and others [5][6]. - The year-to-date returns for several funds have turned negative, with specific funds like Huatai Fenghe Pure Bond A and Guotai Huifeng Pure Bond A showing returns of -0.93% and -0.73%, respectively [6]. Group 3: Future Outlook - As market concerns ease, several institutions view the current bond market adjustment as a potential opportunity for reallocation [7]. - According to Fangzheng Securities, the bond market outlook remains optimistic, with expectations for a stable upward trend in August following the adjustment [7]. - Longcheng Securities suggests that the bond market will return to rationality with clearer policies, and the 10-year government bond yield is expected to stabilize around 1.7% [7].