物价预期有望支持债市，资金抢筹债市，十年国债ETF（511260）近10日净流入近5亿元

Group 1 - The core viewpoint indicates that future price trends may diverge from market expectations, with the CPI for 2026 likely remaining in positive territory due to tailwind factors, but without exceeding expectations [1] - The tailwind factors contributing positively include the strong performance of gold in the second half of 2025 and the inclusion of goods at original prices in the CPI after national subsidies, leading to an inflated CPI [1] - Current consumer sentiment is mixed, making it difficult to conclude a rebound in domestic demand, which may further support the bond market throughout the year [1] Group 2 - The Ten-Year Treasury ETF (511260) tracks the Shanghai Stock Exchange's 10-year government bond index, selecting bonds with a remaining maturity of 7 to 10 years listed on the exchange, maintaining a constant duration [1] - Historical performance shows that since its inception, the Ten-Year Treasury ETF (511260) has consistently achieved new net asset value highs, with a one-year return of 0.4%, a three-year return of 14.23%, a five-year return of 23.19%, and a cumulative return of 36.31% since inception as of the end of 2025 [1] - Notably, the Ten-Year Treasury ETF has maintained positive returns every year since its establishment, spanning eight complete calendar years from 2018 to 2025, positioning it as a potential asset allocation tool across market cycles [1]