利空因素逐步释放，信用债ETF基金（511200）等迎来新的右侧做多阶段

Core Viewpoint - The People's Bank of China (PBOC) has resumed open market operations for government bonds after a ten-month hiatus, signaling a shift towards a more accommodative monetary policy aimed at stabilizing the banking sector and improving liquidity in the financial system [1]. Group 1: Monetary Policy and Market Reaction - On October 29, the PBOC injected a net amount of 419.5 billion yuan into the market, leading to a positive response in the government bond futures market, with the 30-year and 10-year main contracts rising by 0.1% and 0.18% respectively [1]. - The resumption of government bond trading is expected to enhance the funding capabilities of banks, potentially lowering certificate of deposit rates and improving overall liquidity in the market [1]. - Following several months of negative factors being fully priced in, market sentiment has shifted from cautious to optimistic, indicating the beginning of a new phase of buying in the bond market [1].