固收指数月报 | 彭博中国综合指数录得正回报，逆转连续两月负值

Core Insights - Bloomberg is the first global index provider to include Chinese bonds in mainstream global indices, offering a unique perspective on the Chinese bond market through the Bloomberg China Fixed Income Index series [1][3] Group 1: April Key Insights - The Bloomberg China Aggregate Index recorded a positive return of 1.09% in April, following two consecutive months of negative returns, with a year-to-date return of 0.42% [3] - The 30-day volatility of the index showed a declining trend during this period [3] - The China Treasury and Policy Banks Index achieved a return of 1.17% in April, while the year-to-date return in local currency was 0.42%, ranking 24th among 27 currencies in the global composite index [3] Group 2: Index Performance - The performance of various indices in April is as follows: - China Aggregate Index: 1.09% return for the month, 0.42% year-to-date [5] - China Treasuries: 1.44% month-to-date return, 0.59% year-to-date [5] - China Corporate Index: 0.42% month-to-date return, 0.46% year-to-date [5] - 10+ Year Maturity Index: 3.08% month-to-date return, 1.64% year-to-date [5] Group 3: Foreign Investment Trends - In March, the proportion of foreign investors in interbank certificates of deposit rose to 6%, the highest level in six months, with foreign capital increasing holdings by 238.7 billion RMB in the first quarter [13] - If the current pace continues, foreign holdings of interbank certificates of deposit could exceed those of government bonds by 2026 [13]