Core Insights - The recent inclusion of credit bond ETFs in the pledged repo trading has significantly boosted trading activity, with two benchmark market-making credit bond ETFs exceeding transaction volumes of 10 billion yuan on June 11 [1][2] - The rapid influx of capital has led to four credit bond ETFs, established for less than six months, joining the "100 billion club" [1][2] Trading Activity - On June 11, the Southern CSI Benchmark Market-Making Corporate Bond ETF recorded a transaction volume exceeding 15.5 billion yuan, marking an increase of over 7 billion yuan from the previous trading day and setting a new single-day transaction record [2] - Other ETFs, such as the E Fund CSI Benchmark Market-Making Corporate Bond ETF, also saw significant trading volumes, with over 9 billion yuan, while several others surpassed 6 billion yuan [2] Fund Inflows - In the past month, four major credit bond ETFs have seen net inflows exceeding 5 billion yuan, with the E Fund and Southern ETFs leading the way [3] - The inclusion of credit bond ETFs in the pledged repo has enhanced liquidity and provided a tool for liquidity management, allowing investors to use these ETFs for financing during tight liquidity periods [3] Investment Strategies - The inclusion of credit bond ETFs in pledged repo trading is viewed as a key measure to address developmental shortcomings, significantly enhancing their investment appeal [4] - Investors can utilize a "buy ETF - pledge financing - reinvest" leverage strategy to increase returns, improving overall capital efficiency for institutional investors [4] - Various investment strategies, including pure bond strategies, multi-asset strategies, and structured investment strategies, can benefit from leveraging credit bond ETFs [4]