Group 1 - The core viewpoint of the news highlights the performance and liquidity of the credit bond ETF, specifically the Bosera Credit Bond ETF, which has shown a slight increase and strong trading volume in recent months [3][4] - As of September 16, the Bosera Credit Bond ETF has accumulated a 1.32% increase over the past six months, ranking it in the top quarter among comparable funds [3] - The ETF has a recent trading volume of 1.08 billion yuan, with an average daily trading volume of 2.8 billion yuan over the past year, ranking first among comparable funds [3] Group 2 - The recent monetary policy includes two buyout reverse repurchase operations in September, with a total of 9,000 billion yuan in six-month buyout operations planned [3] - The Ministry of Finance emphasized risk prevention and resolution in key areas during a press conference, focusing on local government debt management and the establishment of a legal debt management system [3] - Research institutions note that since July, the rebound in short-term and low-grade credit bond yields has been limited, but there are still favorable factors supporting credit bonds in September [4]

Core Viewpoint - The current credit bond market remains favorable for capital, with high carry space observed this year, suggesting that mid-to-short term carry leverage strategies may continue to be advantageous [1] Group 1 - The chief analyst of fixed income at Shenwan Hongyuan, Huang Weiping, indicated that as of September 16, the funding environment for credit bonds is still positive [1] - The carry space is at a high level compared to earlier this year, which supports the attractiveness of carry strategies [1] - Mid-to-short term carry leverage strategies are likely to remain dominant in the current market conditions [1]