点击 "简七读财" ，发送消息" 理财 " 小白轻松入门~ 晚上好，我是简七~ 最近，有小伙伴来问：不是说纯债基金很稳吗？怎么也会「跳水」呢？ 我看了看，她说的这只债基，一周跌了6%，净值打回两年前，相当于投资两年白干了。 图源：天天基金 今天，我们就从这次「暴雷」说起，聊聊债基到底是怎么回事，以及我们该怎么挑、怎么买。 *风险提示：本文所提及的基金，仅为示例参考，不构成任何投资建议。市场有风险，投资需谨慎。请务必将决策权，牢牢握在自己手中~ 01 这次雷，到底是怎么回事？ 纯债基金，就是基金经理拿我们的钱，买几十、上百只债券。 那什么是债券呢？本质上TA是「欠条」： 买国债，就是把钱借给国家；买企业债，就是把钱借给企业。到期了，对方连本带息还给你。 听起来很稳，对吧？ 首先，我们要相信概率和常识。 咱们买债基，买的是几十、上百只债券。 哪怕真遇到一个还不上钱的公司，因为分散了，对整体的影响通常也是可控的。像这次跌幅这么大的，属于比较极端的个例。 另外，咱们债基也别认准某一支，把「求稳」的钱也再分散到不同产品中。 确实，在大多数情况下，借钱的一方都会按时还钱。所以债基给人的印象一直是「稳稳的幸福」。 但是，万 ...

Group 1 - The report highlights a significant decline in US Treasury yields, driven by rising global risk aversion and expectations of a potential interest rate cut by the Federal Reserve due to weakening economic data [7][9][27] - European long-term government bond yields have reached near-decade highs, particularly in the UK, France, and Germany, influenced by fiscal expansion and political uncertainties, leading to a sell-off in European bonds [8][9][10] - The report suggests a shift in global capital flows, indicating increased risk aversion and a preference for high-quality, liquid bonds amid diverging monetary policies across major economies [8][9][10] Group 2 - The US Treasury yield curve has shifted downward, with the 10-year yield falling to 4.08% and the 30-year yield decreasing by 16.8 basis points to 4.76%, reflecting heightened demand for safe-haven assets [9][10][11] - In contrast, UK 30-year government bond yields have surged to their highest levels since 1998, with significant increases in yields for French and German bonds as well, indicating a divergence in bond market performance [9][10][11] - The report notes that Asian government bonds have remained stable, with limited yield fluctuations, highlighting a risk diversion effect in the market [9][10][11] Group 3 - The issuance of credit bonds has primarily involved high-rated entities, focusing on sectors such as infrastructure, real estate, and transportation, with maturities mainly between 1-3 years [17][19] - The offshore RMB bond market has shown a slight widening of the yield spread between dim sum bonds and domestic bonds, indicating a stable long-term outlook for offshore RMB liquidity [15][16][21] - The report emphasizes the importance of maintaining a diversified credit exposure, particularly in high-rated corporate bonds and sovereign debt, while being cautious of over-concentration in any single sector or credit rating [33][34]