Core Viewpoint - The 30-year government bond ETF from Bosera has shown a positive performance with a recent price increase and significant trading volume, indicating strong market interest and support despite a relatively stable interest rate environment [1][3]. Group 1: Market Performance - As of June 12, 2025, the 30-year government bond ETF from Bosera rose by 0.08%, marking its fifth consecutive increase, with the latest price at 112.17 yuan [1]. - The ETF has a recent trading volume of 6.94 billion yuan, with an average daily trading volume of 21.47 billion yuan over the past month [1]. - The ETF's latest scale reached 8.09 billion yuan, with a net outflow of 32.48 million yuan recently, but it has seen a net inflow of 373 million yuan over the last five trading days [3]. Group 2: Performance Metrics - The ETF has achieved a 14.94% increase in net value over the past year, ranking 4th out of 390 in its category [3]. - Historical performance shows a maximum monthly return of 5.35% and a longest consecutive monthly increase of 4 months, with an average monthly return of 2.20% [3]. - The ETF has a 100% probability of profit over a one-year holding period, with a monthly profit probability of 68.48% [3]. Group 3: Risk and Fees - The maximum drawdown since inception is 6.89%, with a relative benchmark drawdown of 1.28% [4]. - The management fee for the ETF is 0.15%, and the custody fee is 0.05% [5]. - The tracking error over the past two months is 0.067%, indicating strong tracking precision [6].

Core Insights - The 30-year government bond ETF from Bosera has shown a price increase of 0.41%, reaching 111.72 yuan as of June 9, 2025, indicating active market trading with a turnover of 14.11% and a transaction volume of 1.095 billion yuan [1] - The fund's latest scale has reached 7.748 billion yuan, marking a one-year high [2] - The fund's shares have also reached a one-year high of 69.5397 million shares, with a net inflow of 67.8564 million yuan recently [3] Liquidity and Market Conditions - Liquidity is expected to remain balanced and ample in June, with the central bank potentially resuming government bond purchases in June or the second half of the year [1] - The core fluctuation range for 10-year government bonds is anticipated to be between 1.5% and 1.8%, with a flat yield curve expected to persist for an extended period [1] Performance Metrics - As of June 6, 2025, the fund has achieved a net value increase of 14.56% over the past year, ranking 4th out of 390 in the index bond fund category [3] - The fund's highest monthly return since inception was 5.35%, with the longest consecutive monthly gains being 4 months and a maximum increase of 10.58% [3] - The average monthly return during rising months is 2.20%, with a monthly profit percentage of 64.29% and a monthly profit probability of 69.23% [3] - The historical one-year profit probability stands at 100% [3] Risk and Fees - The maximum drawdown since inception is 6.89%, with a relative benchmark drawdown of 1.28% [4] - The management fee for the fund is 0.15%, and the custody fee is 0.05% [5] Tracking Accuracy - The tracking error for the fund over the past year is 0.072% [6]

Core Viewpoint - The recent decline in government bond futures and the first decrease in LPR rates this year indicate a potential shift in monetary policy, with expectations of further interest rate cuts in the second half of the year due to external uncertainties and low domestic inflation [3][4]. Group 1: Government Bond Futures - As of May 20, 2025, all government bond futures are down, with the 30-year main contract falling by 0.10%, the 10-year by 0.02%, the 5-year by 0.08%, and the 2-year by 0.04% [3]. - The 30-year government bond ETF (博时) rose by 0.01%, with a latest price of 111.86 yuan, indicating active market trading [3]. Group 2: LPR Rates - On May 20, 2025, the 1-year LPR is set at 3.0% and the 5-year LPR at 3.5%, both down by 10 basis points from previous values, marking the first decline in LPR this year [3]. Group 3: 30-Year Government Bond ETF (博时) - The 30-year government bond ETF (博时) has reached a new high in scale at 6.783 billion yuan and a new high in shares at 60.5697 million [4]. - The ETF has seen continuous net inflows over the past 8 days, with a maximum single-day net inflow of 226 million yuan, totaling 491 million yuan in net inflows [4]. - The ETF's performance over the past year shows a net value increase of 15.91%, ranking 3rd out of 378 index bond funds [5]. Group 4: Performance Metrics - The ETF has a maximum monthly return of 5.35% since inception, with a historical one-year profit probability of 100% [5]. - The management fee for the ETF is 0.15%, and the custody fee is 0.05%, with a tracking error of 0.071% over the past year [5].