--- title: "Funds are aggressively allocating to the value of government bonds, with the Guotai SSE 10-Year China Treasury Note ETF (511260) experiencing a net inflow of over 800 million yuan for four consecutive days" type: "News" locale: "en" url: "https://longbridge.com/en/news/282138661.md" description: "The Guotai 10-Year Treasury Note ETF (511260) has seen a net inflow of over 800 million yuan for four consecutive days, indicating a focus on treasury bond allocation. Despite international oil prices attracting investors, domestic commodity prices have retreated, and the liquidity remains ample with short-term interest rates operating at low levels. Technically, the bond market is experiencing narrow fluctuations, which do not constitute bear market conditions. In the medium to long term, the downward space for long-term bond yields is limited, and financing demand is relatively weak. Investors may pay attention to stable varieties, such as the Treasury Bond ETF (511010) and the 10-Year Treasury Note ETF (511260), which have shown stable historical performance, maintaining positive returns every year since their establishment" datetime: "2026-04-09T05:28:12.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/282138661.md) - [en](https://longbridge.com/en/news/282138661.md) - [zh-HK](https://longbridge.com/zh-HK/news/282138661.md) --- # Funds are aggressively allocating to the value of government bonds, with the Guotai SSE 10-Year China Treasury Note ETF (511260) experiencing a net inflow of over 800 million yuan for four consecutive days Funds are aggressively allocating to the value of government bonds, with the Guotai SSE 10-Year China Treasury Note ETF (511260) seeing a net inflow of over 800 million yuan for four consecutive days. Relevant institutions indicate that the government bond environment is not bad in terms of short-term winning rates. Although international oil prices have attracted the attention of the majority of investors, the prices of domestically priced bulk commodities (such as steel and building materials) have also seen some decline; the funding environment remains relatively loose, with short-term interest rates operating at low levels. Technically, the bond market is mostly experiencing narrow fluctuations, which do not currently constitute conditions for a bear market. However, from a medium to long-term perspective, there is limited room for long bond yields to break further downward, and no obvious signals have been seen temporarily. Firstly, there are certain fluctuations in China's economy, with overall financing demand not being strong, and domestic bulk commodities experiencing price declines. However, this fluctuation has not broken the overarching framework of "weak recovery." Currently, China is in a period of "new and old kinetic energy conversion," where the high growth rate of industrialization has passed, and the real estate cycle is declining, leading to reduced elasticity in overall financing demand, with weak social financing becoming a basic expectation. Despite short-term funding rates remaining very ample, the central bank's current statement of "maintaining a reasonable term interest rate spread" is aimed at securing greater space for policy. In a phase where there are no significant changes in the internal and external environment, a relatively steep curve shape may continue. At this time, some medium to short-term bonds may have more opportunities. Investors can pay attention to stable varieties with moderate duration, such as the government bond ETF (511010) and the Guotai SSE 10-Year China Treasury Note ETF (511260). In the current environment, the cost-effectiveness of excessive exposure to interest rate risk is limited. The Guotai SSE 10-Year China Treasury Note ETF (511260) tracks the SSE 10-Year Treasury Bond Index, selecting government bonds with a remaining maturity of 7 to 10 years that are listed on the Shanghai Stock Exchange as samples, maintaining a constant duration. From past performance, the Guotai SSE 10-Year China Treasury Note ETF (511260) has repeatedly set new highs in net value since its establishment, with historical performance remaining stable. According to the fund's regular report, as of the end of 2025, the one-year return rate is 0.4%, the three-year return rate is 14.23%, the five-year return rate is 23.19%, and the cumulative return rate since inception is 36.31%. It is worth noting that the Guotai SSE 10-Year China Treasury Note ETF has experienced a total of 8 complete calendar years from 2018 to 2025, maintaining positive returns each year, and is expected to become an asset allocation tool that can traverse bull and bear cycles. 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