Hello, the bond fund has held various bonds issued in the past, so the fluctuation of interest rate will affect the net value of the bond fund. For example, if the interest rate rises, the relative yield of the bonds already held by the fund will fall (because the yield of the bonds already held is fixed and will not change because of the increase in interest rate). At this time, the price of bonds will fall, and the net value of bond funds will also fall, so investors should not buy bond funds if they predict that interest rates will continue to rise in the future. On the contrary, interest rates fall. . . . . . The net value of bond funds will rise. Now, some bond funds have higher income, which is related to the higher income of new share subscription. The more new shares are issued, the higher the listing income, and the higher the income of such funds. The income of such bond funds is closely related to the income of new shares (the correlation with the income of investment bonds itself is reduced).