成交额超3000万元，国债ETF5至10年(511020)近8个交易日净流入6215.46万元

Group 1 - The core viewpoint is that despite adjustments in government bonds, it is expected that the bond market will stabilize, leading to a compression in the yield spread between government bonds and policy bank bonds, as well as a continued compression in the credit spread of secondary bonds [1] - The sentiment in the bond market was poor recently, but the negative factors are not strong in the short term, suggesting a cautious but not overly bearish outlook on the bond market [1] - The 10-year government bond yield is considered to have value when it is above 1.9% [1] Group 2 - As of January 5, 2026, the China Bond 5-10 Year Treasury Active Bond Index (net price) decreased by 0.04%, while the government bond ETF for 5 to 10 years was trading at 115.24 yuan [3] - The liquidity for the 5-10 year government bond ETF showed a turnover of 1.53% with a transaction volume of 30.72 million yuan, and the average daily transaction volume over the past month was 609 million yuan [3] - The latest scale of the 5-10 year government bond ETF reached 2 billion yuan, with a net inflow of 62.15 million yuan over the last eight trading days [3] Group 3 - The 5-10 year government bond ETF closely tracks the China Bond 5-10 Year Treasury Active Bond Index, which includes bonds with maturities of 5, 7, and 10 years, calculated using a non-market capitalization weighted method [4] - The management fee for the 5-10 year government bond ETF is 0.15%, and the custody fee is 0.05% [3]