资金流入方面，30年国债ETF博时最新资金净流出5380.08万元。拉长时间看，近5个交易日内有3日资金净流入，合计"吸金"7.57亿元，日均净流入达1.51亿 元。 截至2025年11月21日 09:42，30年国债ETF博时(511130)上涨0.08%，最新价报107.53元。拉长时间看，截至2025年11月20日，30年国债ETF博时近1年累计上 涨4.18%。 流动性方面，30年国债ETF博时盘中换手1.35%，成交2.59亿元。拉长时间看，截至11月20日，30年国债ETF博时近1月日均成交33.69亿元。 11月21日，国债期货开盘多数上涨，30年期主力合约涨0.03%报115.960元，10年期主力合约涨0.07%报108.550元，5年期主力合约涨0.02%报105.935元，2年 期主力合约持平于102.462元。 11月20日，新一期LPR（贷款市场报价利率）出炉：中国人民银行授权全国银行间同业拆借中心公布，1年期LPR为3.0%，5年期以上LPR为3.5%。两个期限 品种LPR较前值均维持不变，截至目前LPR已连续6个月保持不变。11月份LPR保持不变符合市场预期。近期，主要政策利率7 ...

份额方面，30年国债ETF博时最新份额达1.75亿份，创近1月新高。 截至2025年11月17日 11:27，30年国债ETF博时(511130)上涨0.15%，最新价报107.98元。拉长时间看， 截至2025年11月14日，30年国债ETF博时近1月累计上涨1.48%。 流动性方面，30年国债ETF博时盘中换手9.64%，成交18.21亿元。拉长时间看，截至11月14日，30年国 债ETF博时近1月日均成交34.62亿元。 央行日前公告，为保持银行体系流动性充裕，11月17日将以固定数量、利率招标、多重价位中标方式开 展8000亿元买断式逆回购操作，期限为6个月（182天）。数据显示，11月有3000亿元6个月期买断式逆 回购到期。这意味着本月6个月期买断式逆回购加量续作5000亿元。此前，央行已于11月5日开展7000亿 元3个月期买断式逆回购，由于当月有同样规模3个月期买断式逆回购到期，因此月内为等量续作。 机构认为，年内来看，在短时间降息预期不强的情况下（根据浮息债与固息债的价格测算，当前市场对 于短期资金宽松和LPR下调均没有预期），长端国债利率和短端存单利率均很难有明显下行空间。年底 需要关注机 ...

Group 1 - The 30-year Treasury ETF from Bosera has seen a 0.32% increase, marking its fifth consecutive rise, with the latest price at 108.46 yuan [2] - Over the past week, the 30-year Treasury ETF has accumulated a 0.53% increase [2] - The trading volume for the 30-year Treasury ETF was 1.32 billion yuan, with a turnover rate of 0.73% [2] Group 2 - On November 5, the central bank conducted a reverse repurchase operation of 655 billion yuan at a fixed rate of 1.40%, with a total bid and awarded amount of 655 billion yuan [2] - The net withdrawal for the day was calculated at 4.922 billion yuan, based on the maturity of 5.577 billion yuan in reverse repos [2] Group 3 - Citic Securities reported a net injection of 20 billion yuan in government bonds in October, which is expected to support liquidity and stabilize market expectations [3] - The latest scale of the 30-year Treasury ETF from Bosera reached 18.031 billion yuan [3] - The net inflow for the 30-year Treasury ETF was 49.6959 million yuan, with a total of 112 million yuan in net inflows over the last five trading days [3]

Core Viewpoint - The 30-year government bond ETF from Bosera is experiencing a mixed market sentiment, with a recent price of 107.31 yuan and a 1.41% increase over the past two weeks, indicating active trading and liquidity in the domestic bond market [2]. Group 1: Market Performance - The 30-year government bond ETF has a current scale of 18.048 billion yuan [3]. - The ETF has seen a net inflow of 265 million yuan recently, with a total of 549 million yuan net inflow over the past five trading days, averaging 110 million yuan per day [3]. - The trading volume for the ETF reached 1.853 billion yuan, with a turnover rate of 10.26%, reflecting a vibrant market activity [2]. Group 2: Market Trends - The domestic bond market sentiment is currently high, with short-term bonds being heavily purchased and yields declining significantly, influenced by rumors of large banks buying newly issued bonds with maturities of three years or less [2]. - The central bank conducted a reverse repurchase operation of 557.7 billion yuan, resulting in a net injection of 419.5 billion yuan, leading to a loosening of the interbank market liquidity [2]. - Analysts predict three characteristics for the bond market in 2025: increased impact of central bank and regulatory attitudes on interest rate trends, a rise in risk appetite due to "anti-involution" policies, and a potential shift in the low-interest-rate support logic for the bond market due to stock market profitability [2].

Core Viewpoint - The resumption of government bond trading operations by the central bank is seen as a significant positive catalyst for the bond market, indicating improved market conditions and a supportive monetary policy environment [1][2]. Group 1: Market Performance - As of October 29, 2025, the 30-year government bond ETF from Bosera (511130) rose by 0.01%, marking a three-day consecutive increase, with the latest price at 107.56 yuan [1]. - Over the past week, the 30-year government bond ETF has accumulated a rise of 0.56% [1]. - The trading volume for the 30-year government bond ETF was 15.18 billion yuan, with a turnover rate of 8.49% [1]. Group 2: Central Bank Actions - On October 27, 2025, the central bank governor announced at the Financial Street Forum that the overall bond market is performing well and that the central bank will resume open market operations for government bonds [1]. - The resumption is driven by improved bond market conditions and the need for policy coordination, signaling a supportive monetary policy stance [1]. - This operation aims to enhance the monetary environment for fiscal efforts and improve the market's pricing benchmark for government bonds [1]. Group 3: Fund Flows and Size - The latest size of the 30-year government bond ETF from Bosera is 17.8 billion yuan [3]. - There was a net outflow of 165 million yuan from the 30-year government bond ETF, but over the past five trading days, there were net inflows on four days, totaling 449 million yuan [3]. - The ETF closely tracks the Shanghai Stock Exchange's 30-year government bond index, which reflects the overall performance of the corresponding maturity government bonds [3].

Market Overview - On October 28, the A-share market experienced a high and then a pullback, with the Shanghai Composite Index briefly surpassing 4000 points, marking a ten-year high [4] - The military, software, and lithium battery sectors showed strong performance, with several military and defense ETFs rising over 1% [4] ETF Performance - The Nasdaq 100 ETF (159660) led the gains with a 3% increase, and its premium rate surged to 9.9%, the highest since January of this year [4] - Various military and defense ETFs, including the military ETF (1.47%) and defense ETF (1.46%), also reported positive performance [5] Gold Market - In contrast, gold-themed ETFs continued to decline, with gold stock ETFs, gold ETFs, and Shanghai gold ETFs all dropping over 3% [2][6] - The total net outflow from gold ETFs exceeded 1.5 billion yuan, with some products experiencing five consecutive days of net outflows [2][8] Bond Market - Following the central bank's announcement to resume public market treasury bond trading, the bond market showed signs of recovery, with bond ETFs generally rising [3][7] - The 30-year treasury bond ETFs saw an increase of 0.61%, and trading volumes for short-term bond ETFs surged significantly [7] Investment Trends - The technology and cyclical sectors are expected to attract attention, with a focus on modern industrial systems and national security themes [9] - The market may experience a phase of volatility, with a potential slowdown in capital inflows into A-shares in the fourth quarter [9] New ETF Launches - The first public products investing in the Brazilian market, including the E Fund Itaú Brazil IBOVESPA ETF and the Huaxia Bradesco Brazil IBOVESPA ETF, are set to launch on October 31 [11]

Group 1 - The core viewpoint indicates that the 30-year government bond ETF from Bosera has shown signs of recovery in the bond market, supported by macroeconomic pressures and a loosening of monetary policy [1][2] - As of October 23, 2025, the 30-year government bond ETF has accumulated a weekly increase of 0.59%, with a current price of 106.91 yuan [1] - The recent issuance of a 7-year fixed-rate government bond by the Ministry of Finance, with a total competitive bidding amount of 118 billion yuan and a coupon rate of 1.78%, reflects ongoing government efforts to manage debt [1][2] Group 2 - The latest scale of the 30-year government bond ETF has reached 17.588 billion yuan, indicating significant investor interest [2] - Over the past three days, the ETF has experienced continuous net inflows, totaling 344 million yuan, with a peak single-day inflow of 166 million yuan [2] - The ETF closely tracks the Shanghai Stock Exchange's 30-year government bond index, which is designed to reflect the overall performance of corresponding maturity government bonds [2]

Core Insights - The 30-year government bond ETF from Bosera has seen a slight increase of 0.04%, marking a three-day consecutive rise, with the latest price at 107.24 yuan [3] - The ETF has accumulated a weekly increase of 1.31% as of October 22, 2025 [3] - The recent issuance of a government bond with a planned issuance of 55 billion yuan was fully subscribed, with an annual yield of 1.35% [3] Market Overview - As of the end of September 2025, foreign institutions held 3.78 trillion yuan in the interbank bond market, accounting for 2.2% of the total custody amount [4] - Among the bonds held by foreign institutions, 2.00 trillion yuan were government bonds, representing 52.9% of their holdings [4] - The market has seen the entry of 11 new foreign institutional entities into the interbank bond market in September [4] Economic Context - The uncertainty in geopolitical situations has eased, leading to a reduction in risk-averse sentiment [4] - There are ongoing concerns regarding insufficient domestic demand, necessitating a supportive monetary environment to stabilize demand [4] - The pressure to achieve economic growth targets for 2025 is relatively low, indicating strong resilience in the macro economy [4] ETF Performance - The latest scale of the Bosera 30-year government bond ETF reached 17.509 billion yuan [4] - The ETF closely tracks the Shanghai Stock Exchange's 30-year government bond index, reflecting the overall performance of corresponding maturity government bonds [5]

Group 1 - The 30-year government bond ETF from Bosera has shown a recent price of 106.81 yuan, with a weekly increase of 1.02% as of October 20, 2025 [1] - The trading volume for the 30-year government bond ETF reached 9.12 billion yuan, with an average daily trading volume of 39.10 billion yuan over the past week [1] - The People's Bank of China conducted a 1,595 billion yuan reverse repurchase operation with a stable interest rate of 1.40%, while major bond yields have generally increased [1] Group 2 - The National Bureau of Statistics reported that the GDP for the first three quarters reached 1,015,036 million yuan, with a year-on-year growth of 5.2% [2] - The GDP growth rates for the first three quarters were 5.4%, 5.2%, and 4.8% respectively, with a quarter-on-quarter growth of 1.1% in the third quarter [2] - Experts suggest that achieving the annual GDP growth target of 5% is feasible, with a projected fourth-quarter growth of 4.5-4.6% [2] Group 3 - Institutions believe that the bond market will seek balance amid fluctuations in interest rates and sentiment, with Southwest Securities noting the market's resilience after a challenging third quarter [3] - Despite constraints from strong equity markets and fluctuating funding rates, long-term funds from banks, wealth management, and insurance continue to increase allocations, indicating stable demand for bonds [3] Group 4 - The latest scale of the 30-year government bond ETF from Bosera is 17.216 billion yuan, closely tracking the Shanghai Stock Exchange's 30-year government bond index [4]

Group 1 - The 30-year government bond ETF from Bosera has seen a slight decline of 0.18% as of October 20, 2025, with a latest price of 106.93 yuan, but has accumulated a rise of 1.68% over the past week as of October 17, 2025 [1] - The trading volume for the 30-year government bond ETF reached 1.566 billion yuan with a turnover rate of 9.07%, and the average daily trading volume over the past week was 4.167 billion yuan [1] - The Ministry of Finance announced measures to support government bond market making and enhance liquidity in the secondary market, indicating a proactive approach to manage the yield curve [1] Group 2 - Guojin Securities reported that the fixed income market indicators show a balanced outlook with half of the 49 high-frequency indicators signaling positive trends, despite some negative signals from bill financing [2] - The latest scale of the 30-year government bond ETF from Bosera is 17.291 billion yuan, closely tracking the Shanghai Stock Exchange's 30-year government bond index [3]