中短利率债为何持续偏弱？

Core Insights - The report discusses the continuous weakness in medium and short-term interest rate bonds since the beginning of the year, attributing this to a correction from the relatively strong performance observed last year [2] - The strong performance of medium and short-term bonds last year was primarily due to the central bank's warnings regarding long-term interest rate risks and the purchase of government bonds [2] - The report suggests that medium and short-term bonds may not continue to underperform and could follow market trends, especially if the central bank engages in government bond transactions [2] Industry Performance - The report highlights the top-performing industries over different time frames, with the communication sector showing a 49.0% increase over the past year, followed by comprehensive industries at 70.5% [1] - Conversely, the report notes the underperforming sectors, such as beauty care and coal, which have shown negative returns of -13.2% and -2.4% respectively over the past year [1]