According to reports from Jinshi Data, Citic Securities research points out that there is still room for interest rate cuts by the central bank within the year. The behavior of residents 'moving deposits' will continue, and asset management institutions will expand their liabilities, increasing the demand for credit bond allocations.
With narrow fluctuations in short-term categories, medium to long-term credit varieties have a higher win rate, and the coupon interest has a stronger offensive attribute. With the launch of credit bond ETF products, actively managed credit bond fund products are expected to expand.
Currently, the holders of medium to long-term credit bond funds are mainly institutional investors. With the growth of FOF funds and the ongoing 'deposit moving' behavior, the influx of institutional and individual funds may promote a robust supply and demand for medium to long-term credit bond funds, highlighting investment value.