A股震荡，债市交投活跃，国债ETF（511010）近10日净流入超1.5亿元

Core Viewpoint - The fourth quarter bond market is expected to perform reasonably well, with improved sentiment for long positions following the People's Bank of China's announcement to restart government bond trading on October 27, which has limited the upward space for government bond yields [1] Economic Conditions - The macroeconomic pressures in China have become more evident, particularly after the October PMI fell below expectations, indicating a weakening economic environment [1] - Structural issues remain, with insufficient domestic demand being the primary concern, compounded by tariff disruptions affecting October exports [1] - Companies are facing difficulties in raising prices, which hampers the effectiveness of "anti-involution" policies in transmitting benefits downstream [1] Investment Recommendations - Despite the weak fundamentals, there is still potential for a decline in government bond yields, suggesting that investors should consider focusing on the 10-year government bond ETF (511260) and the government bond ETF (511010) [1]