The downward adjustment of market interest rate means that the interest rate of bonds issued in the future is not as high as that issued in the past, so the price of bonds in the early stage will rise, while bond funds mainly invest in bonds, so the income will rise.

There are many kinds of interest rates, such as deposit interest rate and loan interest rate. There is no need to understand which interest rate is falling or rising. All interest rates fluctuate in the same direction.

So, how does the national debt fund fluctuate? Because they are speculating in bonds, rather than the bonds initially raised, and then holding them until maturity, they will trade in the secondary market, and there will be price fluctuations when trading.

Usually, if the interest rate falls, the bond index will rise, so the bond market is not good, so the interest rate adjustment will have an impact on the bond price, but the bond does not fluctuate like the stock market.