【申万固收|机构行为】中长期利率型债基久期抬升，但分歧扩大——机构行为观察周报20251231

Core Viewpoint - The article discusses the behavior of institutional investors in the bond market, highlighting an increase in the duration of medium to long-term interest rate bond funds, while also noting a widening divergence in investment strategies among institutions [2] Group 1: Institutional Behavior - Institutional investors are increasing the duration of their medium to long-term interest rate bond funds, indicating a shift in investment strategy [2] - There is a growing divergence in the approaches taken by different institutions, reflecting varied expectations regarding interest rate movements and economic conditions [2] Group 2: Market Trends - The report suggests that the bond market is experiencing significant changes, with institutions adapting their strategies in response to evolving market dynamics [2] - The analysis indicates that these changes may lead to increased volatility in the bond market as institutions react differently to economic signals [2]