债市延续向好态势，可转债ETF(511380)午后冲高，盘中交投活跃

Core Insights - The China Securities Convertible Bond and Exchangeable Bond Index (931078) increased by 0.58% as of October 29, 2025, with the Convertible Bond ETF (511380) rising by 0.55% to a latest price of 13.51 yuan [2] - The recent report from the Central Committee emphasizes the need for proactive macroeconomic policies to stabilize growth, employment, and expectations, while also enhancing risk management in key areas such as real estate and local government debt [2] - The issuance of convertible bonds by banks is viewed as a cost-effective financing method, which can bolster core Tier 1 capital and support business expansion and risk resilience [3] Market Activity - The Convertible Bond ETF recorded a turnover rate of 13.16% with a trading volume of 7.825 billion yuan, indicating active market participation [2] - Over the past week, the Convertible Bond ETF has accumulated a rise of 0.83% [2] - The latest scale of the Convertible Bond ETF reached 59.363 billion yuan, with a net outflow of 638 million yuan recently [3] Investment Opportunities - Despite ongoing market uncertainties, investment opportunities are emerging, particularly in equity assets benefiting from the AI wave and policy support in the technology growth sector [3] - The recent trend shows that in the last 10 trading days, there were net inflows on 6 days, totaling 863 million yuan, with an average daily net inflow of 8.632 million yuan [3] - The Convertible Bond ETF closely tracks the performance of the China Securities Convertible Bond and Exchangeable Bond Index, which is composed of convertible and exchangeable bonds listed on the Shanghai and Shenzhen exchanges [3]