债市，崩了！

Core Viewpoint - The A-share market experienced significant gains, creating multiple historical records, while the bond market faced a sharp sell-off, indicating a shift in investor sentiment from fixed income to equities [2][4][7]. Group 1: A-Share Market Performance - On August 18, the A-share market saw all three major indices rise, with the Shanghai Composite Index increasing by 0.85%, the Shenzhen Component Index by 1.73%, and the ChiNext Index by 2.84% [7]. - A total of 4,037 stocks rose, with 122 hitting the daily limit up, while 1,222 stocks declined [8]. - The market set several records, including the Shanghai Composite Index breaking through 3,731 points, reaching a ten-year high, and the total market capitalization of A-shares surpassing 100 trillion yuan for the first time [9][14]. Group 2: Bond Market Performance - The bond market faced significant selling pressure, with the 10-year government bond yield rising by 3 basis points to 1.775%, and the 30-year yield increasing by approximately 5 basis points to 2.1% [4]. - The 30-year government bond ETF fell over 1%, reflecting the broader trend of investors withdrawing from fixed income products [5][6]. - The Ministry of Finance announced measures to support the liquidity of government bonds in the secondary market, indicating a proactive approach to stabilize the bond market [7]. Group 3: Sector Highlights - AI hardware stocks, such as liquid-cooled servers and CPOs, continued to perform strongly, with several stocks hitting the daily limit up [15]. - Financial stocks also saw significant gains, with Longcheng Securities achieving a four-day limit up and other brokerage firms experiencing notable increases [19][20]. - The overall trading volume in the A-share market reached a record high of 2.76 trillion yuan, an increase of 519.6 billion yuan from the previous trading day [13].