Group 1 - The report indicates a divergence in the performance of simulated portfolios, with most strategies experiencing a decline in returns, while some credit style portfolios saw a rebound [2][14][15] - In the interest rate style portfolios, the city investment ultra-long and city investment barbell strategies achieved returns of 0.22% and 0.17% respectively, while in the credit style portfolios, the city investment ultra-long and city investment barbell strategies had returns of 0.5% and 0.3% respectively [2][15] - The weekly average return of the city investment heavy bond portfolio increased to 0.2%, up by 9.1 basis points from the previous week, with the ultra-long city investment strategy showing significant recovery, achieving a weekly return of 0.5% [2][17] Group 2 - The report highlights that the cumulative excess returns of various credit strategies have shown divergence over the past four weeks, with the city investment barbell, duration, and short-end sinking strategies yielding cumulative excess returns of 23.1 basis points, 14.4 basis points, and -0.2 basis points respectively [4][31] - The financial bond strategies have not shown excess returns in the past month, with the secondary capital bond bullet-type and broker bond duration strategies both deviating negatively from the benchmark by over 10 basis points [4][31] - The ultra-long city investment strategy achieved an excess return of 18.7 basis points, while the industrial ultra-long and secondary ultra-long strategies underperformed their respective benchmarks [4][34]