流动性充裕支撑债市情绪，科创债ETF鹏华(551030)多空胶着

Group 1 - The central bank conducted a 900 billion yuan one-year MLF operation, indicating a clear signal to maintain ample liquidity [1] - The central bank governor reiterated that there is still room for rate cuts and reserve requirement ratio reductions this year, reinforcing expectations for policy easing [1] - Short-term funding conditions appear stable, with clear easing tools expected in the medium term, likely supporting bond market sentiment in the near term [1] Group 2 - As of January 26, 2026, the Penghua Science and Technology Innovation Bond ETF (551030) experienced a slight pullback [1] - The ETF tracks the Shanghai Stock Exchange AAA-rated technology innovation corporate bond index, selecting bonds with AAA ratings and implied ratings of AA+ and above [1] - Compared to single bond investment strategies, the Science and Technology Innovation Bond ETF offers advantages such as low fees, low trading costs, high transparency, high diversification, and efficient "T+0" redemption, which helps to mitigate investment portfolio risks and improve capital efficiency [1] Group 3 - Penghua Fund has established a long-term strategy for "fixed income tool-type products" since the second half of 2018, actively laying out in areas such as interest rate bond index products, ETFs, credit bond indices, and certificate of deposit indices [1] - The company aims to build a comprehensive fixed income tool library and strives to become a domestic "fixed income index expert" [1] - Leveraging its professional bond index investment management capabilities and rich product operation experience, Penghua Fund will continue to provide high-quality bond index investment tools for investors [1]