Group 1 - The report emphasizes the importance of monitoring technical indicators and support levels in the bond market under short-term speculative logic [1][8] - The recent Fourth Plenary Session of the Central Committee did not focus heavily on financial and bond markets, indicating a consistent policy direction to support the real economy [10][12] - Key upcoming events for the bond market include potential easing of US-China trade tensions and the implementation of new fund fee regulations, which may lead to a stabilization of the market [14][16] Group 2 - The bond market is expected to maintain a short-term operational mindset, focusing on structural opportunities rather than anticipating a significant downward trend in interest rates [9][21] - Technical analysis shows that previous resistance levels have become support levels, indicating a shift in market sentiment [22] - The report suggests a preference for 10-year government bonds and policy financial bonds, while ultra-long bonds should be approached cautiously [22][9] Group 3 - The report notes that the relative attractiveness of government bonds has changed, with most yield spreads narrowing, particularly between different maturities [36] - The bond market has experienced a structural recovery, with high elasticity varieties showing signs of fatigue, while 10-year government bonds demonstrate resilience [22][18] - The report highlights a potential decrease in year-end allocation power across various sectors, which may impact the bond market's performance in the fourth quarter [18][20]