Several Chinese bond ETFs have seen net inflows exceeding CNY2 billion since
Oct. Institutional players remain mildly constructive but expect October’s bond
market to trade with wide swings; key drivers to watch are fiscal and monetary
policy implementation, evolving RRR and rate-cut expectations, and crowded
positions in high-duration bond funds that could prompt profit-taking. Recent
inflows are attributed to post-quarter liquidity easing, stronger easing bets,
equity-led flight to safety, and demand from wealth-management rebalancing and
amortized-cost bond funds building positions; market participants flag
opportunities in mid-credit coupons and cross-year allocation.