Group 1 - The core viewpoint indicates that domestic total demand is still in need of repair, and the foundation for inflation recovery remains unstable, which marginally benefits the bond market [1] - The widening yield spread is unfavorable for monetary policy transmission, but under a loose liquidity environment, the decline in short-term interest rates is expected to transmit to long-term rates [1] - Long-term bonds still hold allocation value in the long run, considering the relatively controllable fiscal pressure for the next year and the pending implementation of broad monetary tools [1] Group 2 - The 10-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 10-Year Government Bond ETF has consistently achieved new net value highs, with a one-year return of 4.17%, a three-year return of 14.04%, a five-year return of 23.39%, and a cumulative return of 35.77% since inception [1] - The ETF has maintained positive annual returns for seven complete natural years from 2018 to 2024, positioning it as a potential asset allocation tool across market cycles [1]
十年国债ETF（511260）近20日净流入超6亿元，债市或迎边际利好
Sou Hu Cai Jing·2025-12-23 08:21