The risk is inflation. The real interest rate is coupon rate minus the inflation rate. Taking the current situation as an example, the interest rate of listed varieties in the exchange bond market is mostly 3-4%, but the CPI rises as high as 7%, so the actual rate of return is negative. This is also the reason why the ten-issue treasury bonds issued on June 23 have been trading poorly since their listing. The way to avoid this risk is to diversify investment. Don't allocate too many assets in bonds, but invest some funds in higher-yielding investment methods, such as stocks, funds and futures.

The last major risk is liquidity risk. For example, if you meet a good investment opportunity like last year's "bull market" and want to sell your bonds, but the main force of the market has shifted from the bond market to the stock market, and you find someone willing to trade in a short time, you must buy stock funds at a low price. There are many kinds of bond funds, which can be divided into short-term debt funds and long-term debt funds, as well as pure debt funds, ordinary bond funds and investment targets according to the term. According to the investment market, it can be divided into domestic bond funds and global bond funds.

The choice of short-term debt fund and long-term debt fund mainly depends on the change of interest rate. We can directly refer to the yield of 10-year treasury bonds. You can choose a long-term debt fund when the interest rate is high, and a short-term debt fund when the interest rate is low. In terms of choice, Class A is suitable for large funds, Class B is more suitable for most investors, and Class C is suitable for short-term holding.

When the stock market is in a downturn, convertible bonds and ordinary bonds (especially partial debt funds) are preferred. When the stock market rises sharply, pure bond funds are mainly considered. There are generally three charging methods for bond funds, among which Class A stands for front-end charging, Class B stands for back-end charging, and Class C does not have subscription and redemption fees, but has Class A sales service fees, so Class A is suitable for large funds, Class B is more suitable for most investors, and Class C is suitable for short-term holding.