一周两个交易日换手率超100%，科创债ETF广发（511120）交投活跃

Group 1 - The core viewpoint is that the recent stabilization of the bond market and the inclusion of repurchase pledge transactions have led to an increase in the turnover rate of the Sci-Tech Bond ETFs, particularly the Guangfa Sci-Tech Bond ETF (511120), which saw an average daily turnover rate exceeding 80% during the last week of August [1] - The turnover rate is a key indicator of trading activity and liquidity in bond ETFs, with a high turnover rate indicating strong investor participation and confidence in the product [1] - After a decline in investor participation in early August, the turnover rate for the Guangfa Sci-Tech Bond ETF rebounded to an average of 70% in late August, following the stabilization of the bond market [1] Group 2 - Since the end of July, fluctuations in the bond market have resulted in significant discounts for bond ETFs, with many Sci-Tech Bond ETFs experiencing weekly average discounts exceeding 20 basis points [2] - Despite the current market conditions, Minsheng Securities believes that the overall macro environment remains favorable for credit bonds, suggesting that the Sci-Tech Bond sector may not face significant downward adjustment risks [2] - There is potential for expansion in the Sci-Tech Bond ETF market, with 14 public fund institutions having reported a second batch of Sci-Tech Bond ETFs, which could enhance the demand for underlying securities and create structural investment opportunities [2][3]