Core Viewpoint - The bond market experienced significant fluctuations, with both government and credit bond yields showing varied movements on July 29, as reported by the China Bond Information Network [1]. Group 1: Bond Market Overview - The China Bond Composite Index (net price) decreased by 0.1783% to 108.6615, while the China Bond Composite Index (wealth) fell by 0.1694% to 255.581 [1]. - The average market value yield was reported at 1.9343%, with an average duration of 6.066 [1]. Group 2: Government Bond Yields - The yield curve for government bonds saw an increase, with the 3-month yield rising by 1 basis point (BP) to 1.36%, the 2-year yield up by 3 BP to 1.44%, and the 10-year yield also increasing by 3 BP to 1.75% [1]. Group 3: Credit Bond Yields - The credit bond market showed mixed results, with the AAA-rated short-term note yield curve seeing a 1 BP decrease in the 3-month yield to 1.65%, while the 3-year yield increased by 3 BP to 1.90%, and the 5-year yield rose by 3 BP to 2.02% [1]. - For A-rated short-term notes, the 1-year yield increased by 1 BP to 6.97% [1].