国债ETF5至10年(511020)、国开债券ETF(159651)交投活跃，机构称新规落地将是债市第二波行情的起点

Group 1 - The latest price for the 5-10 year government bond ETF (511020) is 115.58 yuan, while the government development bond ETF (159651) is priced at 106.67 yuan. The current scale of the 5-10 year government bond ETF has reached 1.631 billion yuan [1] - Recent trading activity shows that long-term interest rate bonds (20 years and above) experienced a net sell-off of 6.6 billion yuan by bond funds, while insurance funds bought 4.3 billion yuan. Over the past week, broker proprietary trading sold off 22.8 billion yuan, and bond funds sold 11.4 billion yuan, with insurance funds purchasing 23.3 billion yuan and rural commercial banks adding 6.4 billion yuan [1] - Institutions indicate that the recent adjustment in long-term interest rate bonds is primarily due to selling by broker proprietary trading and bond funds. There are ongoing rumors regarding new regulations on fund redemption fees, which are causing fluctuations in the bond market. The implementation of these new regulations is expected to mark the beginning of the second wave of the bond market in Q4 [1] Group 2 - The 5-10 year government bond ETF closely tracks the CSI 5-10 Year Government Bond Active Index, which includes bonds with maturities of 5, 7, and 10 years. The index is calculated using a non-market capitalization weighted method to reflect the overall performance of these bonds [2] - The government development bond ETF closely follows the China Bond 0-3 Year Development Bank Bond Index, which includes policy bank bonds with a maturity of up to 3 years. This index serves as a performance benchmark for investments in this category of bonds [2]