Core Viewpoint - The cost-effectiveness of long-term interest rate bonds has improved recently as the equity market sentiment has warmed up, leading to a narrow fluctuation in the bond market [1] Group 1: Market Trends - The bond market has entered a phase of narrow fluctuations, with 10-year and 30-year government bonds struggling to break previous lows [1] - Credit bonds and local government bonds have shown relatively strong performance, indicating a shift in investor preference during uncertain benchmark interest rate conditions [1] Group 2: Investment Insights - The compression of yield spreads has become a less significant obstacle in the current market environment [1] - From a comparative perspective, the cost-effectiveness of long-term interest rate bonds has seen a recovery [1]