【申万固收|机构行为】纯债基金久期上升，债市杠杆和换手率均下行——机构行为观察周报20260214

Core Viewpoint - The article discusses the recent trends in the bond market, highlighting the increase in duration of pure bond funds, alongside a decline in market leverage and turnover rates among institutions [2] Group 1: Institutional Behavior - The duration of pure bond funds has increased, indicating a shift in investment strategy among institutions towards longer-term bonds [2] - There has been a noticeable decline in leverage within the bond market, suggesting a more cautious approach by institutional investors [2] - The turnover rate in the bond market has decreased, reflecting reduced trading activity and possibly a more stable investment environment [2]