Group 1 - The external environment has become increasingly uncertain in 2023, with fluctuating tariffs from Trump and a declining trend in domestic interest rates, leading to a focus on safe-haven assets in investment portfolios [1] - The 10-year government bond is viewed as a preferred investment choice for many investors due to its status as a benchmark for risk-free rates and its ability to cover a complete economic cycle [2] - The 10-year government bond ETF (511260) has shown consistent positive returns since its inception, with annual returns of 9.02%, 16.65%, and 25.06% over the past year, three years, and five years respectively, indicating stable performance [3][4] Group 2 - The 10-year government bond ETF offers multiple advantages, including flexibility with "T+0" trading, low management fees of approximately 0.2% per year, and transparency in holdings [4] - The trading volume and scale of the 10-year government bond ETF have been increasing, with an average daily trading volume of 1.127 billion yuan and a net inflow of over 4.2 billion yuan in recent days, outperforming the market [4] - The fund manager anticipates a potential trend in the bond market in the third quarter, driven by economic cycles in both domestic and U.S. markets, presenting investment opportunities in the 10-year government bond ETF [4]