十年国债ETF（511260）近5日净流入超5.2亿元，债券资产性价比逐步提升

Core Viewpoint - The current stock-bond seesaw effect highlights the increasing attractiveness of bond assets, making them a quality defensive allocation in a volatile market [1] Economic Environment - The economy is transitioning between old and new growth drivers, resulting in lower returns for the real economy, which creates a favorable environment for the bond market [1] - Continuous loose monetary policy and reasonable expectations for interest rate cuts next year, along with gradually improving inflation data, support the trend of economic recovery and further bolster the bond market [1] Ten-Year Government Bond ETF Performance - The Ten-Year Government Bond ETF (511260) 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] - Since its inception, the ETF has consistently achieved new net asset value highs, with historical performance remaining robust [1] - As of the end of Q2, the one-year return rate reached 5.88%, the three-year return rate was 16.13%, the five-year return rate was 22.41%, and the cumulative return since inception was 36.68% [1] - The ETF has maintained positive annual returns for all seven complete natural years from 2018 to 2024, positioning it as a potential asset allocation tool that can navigate through bull and bear cycles [1]