与此同时，一级交易商仅承接了本次发行的5.9%。由于一级交易商需吸收其他投资者未认购的剩余供 给，该比例处于较低水平，意味着终端投资者的实际需求已足以顺利消化全部发行规模，市场承接能力 充足。 Slok总结称，从此次国债拍卖的各项指标来看，美国长期国债"长端"依旧保持非常稳健的需求基础，显 示在当前环境下，投资者对长期美债的配置兴趣并未减弱。 拍卖结束后，Apollo首席经济学家Torsten Slok在点评中指出，多项竞标指标表现异常亮眼，显示出不同 投资者群体的广泛参与，反映出需求基础深厚。其中，公开竞标需求创下历史新高。 从海外资金动向来看，关键指标同样强于以往。被视为海外需求重要代表的间接竞标者此次获配比例高 达69.8%，明显高于64%的历史平均水平。分析认为，这一结果显示，全球投资者依然将长期美国国债 视为具备吸引力的资产配置选择，无论是出于收益率、避险属性，还是资产分散化的考虑。 智通财经APP获悉，在宏观不确定性仍存的背景下，美国长期国债依然受到投资者追捧。最新一期30年 期美国国债拍卖结果显示，市场对久期资产的需求保持强劲，凸显出投资者对长期美债的持续配置意 愿。 ...

Report Overview - The report is titled "ETF Performance Tracking and Fund Flow Weekly Report (2026.1.26 - 2026.1.30)" and was released on February 2, 2026 [1] Core Viewpoints - Overseas ETF funds showed a continuous return trend, with a net inflow of 2.055 billion yuan in the past week, which was lower than the previous week. Large - cap style targets such as CSI 300 and CSI A500 received significant capital inflows, and the electronics industry had the most concentrated capital inflow at the industry level. Overseas funds continued to be positive about the allocation of relevant ETFs, focusing on core assets at the industry level and being relatively balanced at the individual stock level [16] Key Points by Category 1. Broad - based ETFs Average Weekly Returns and Fund Flows - The report presents the average weekly returns and fund inflows/outflows of broad - based ETFs [1][2] Top 10 Funds with Inflows - Funds like LIELEAS NEASOOETF (fund code: 563360.OF) had a net inflow of 1.126 billion yuan, Tianhong CSI Science and Technology Innovation and Entrepreneurship 50 ETF (fund code: 159603.OF) had a net inflow of 928 million yuan, etc [4] Top 10 Funds with Outflows - E Fund CSI 300 ETF (fund code: 510310.OF) had a net outflow of 7.4857 billion yuan, Huatai - Peregrine CSI 300 ETF (fund code: 510300.OF) had a net outflow of 7.4319 billion yuan, etc [6] 2. Industry - themed, Smart Beta, and Hong Kong Stock Connect ETFs Average Weekly Returns and Fund Flows - It includes the average weekly returns and fund inflows/outflows of industry - themed, Smart Beta, and Hong Kong Stock Connect ETFs. For example, in the Smart Beta ETF, different categories such as cycle, green/ESG, etc., had different fund inflow/outflow situations [7][8] Hong Kong Stock Connect ETFs - The average weekly returns and fund inflows/outflows of Hong Kong Stock Connect ETFs in different categories like technology, finance, etc., are presented. For instance, the technology - themed Hong Kong Stock Connect ETF had a net inflow of 1.76 billion yuan [9][12] 3. Equity ETFs - The report provides statistics on the number, scale, and trading volume of equity ETFs, including different index - corresponding funds, their scale, scale proportion, trading volume, and trading volume proportion [13][14] 4. Overseas ETFs Weekly Fund Flows - Overseas ETF funds had a net inflow of 2.055 billion yuan in the past week. Large - cap style targets like CSI 300 and CSI A500 had significant capital inflows, with 1.562 billion yuan and 1.51 billion yuan respectively. The electronics industry had the most concentrated capital inflow of 384 million yuan [16][23] Individual Stock Capital Inflows - Among individual stocks, Kweichow Moutai had the largest capital inflow of 65 million yuan, followed by Contemporary Amperex Technology Co., Limited with 44 million yuan [16][17]