关注债市压舱石，十年国债ETF（511260）盘中飘红，近20日净流入超7.1亿元

Core Viewpoint - The ten-year government bond ETF (511260) has seen a net inflow of over 710 million yuan in the past 20 days, indicating strong interest in the bond market despite a generally volatile outlook [1]. Group 1: Market Analysis - The central bank's resumption of government bond trading has set a yield ceiling for the bond market, while external risks have eased, limiting the ten-year bond yield's potential drop to 1.6% [1]. - The overall volatility in the bond market is expected to be low, and investors are advised to adopt a trend-following approach with modest expectations for yield [1]. Group 2: Investment Strategy - From an asset allocation perspective, bonds are viewed as a hedge against stock market risks, with the ten-year government bond ETF (511260) recommended for balanced stock-bond allocation [1]. - The ten-year government bond ETF tracks the Shanghai Stock Exchange 10-year government bond index, selecting bonds with a remaining maturity of 7 to 10 years listed on the exchange [1]. Group 3: Performance Metrics - Since its inception, the ten-year government bond ETF has consistently achieved positive annual returns, making it a potential asset allocation tool across market cycles [1]. - As of the end of Q2, the one-year return rate for the ETF is 5.88%, the three-year return rate is 16.13%, the five-year return rate is 22.41%, and the cumulative return since inception is 36.68% [1].