下半年双降预期或升温，关注十年国债ETF（511260）

Core Viewpoint - The bond market is experiencing fluctuations due to the interplay between stock and bond performance, with the 10-year yield recently rising to 1.7175% after a previous decline [1] Group 1: Market Conditions - The bond market is expected to maintain volatility ahead of several international uncertainties, with a potential for the Federal Reserve to resume interest rate cuts in September [2] - The current economic environment is characterized by weak demand and initial stages of anti-deflation, suggesting limited downside for bond prices despite recent corrections [1] Group 2: Economic Indicators - Recent global PMI data indicates a weakening trend, with a month-on-month decline in demand [1] - Container shipping data showed a significant drop in the last week of July, indicating a potential year-on-year decrease in exports compared to June [1] - The Producer Price Index (PPI) remains low at -3.6%, reflecting insufficient domestic demand [1] Group 3: Investment Strategy - It is recommended to consider opportunities around the 10-year government bond yield of approximately 1.75%, and to continue investing in the 10-year government bond ETF (511260) [2] - The strategy suggests taking advantage of market adjustments while being flexible with duration limits [2]