because the bond fund mainly invests in China's bond market, raising interest rates will directly lead to a decline in bond prices. Therefore, raising interest rates will affect the income of bond funds, and it will also lead to a decline in bond prices for the expectation of raising interest rates in the future. Therefore, in the short term, raising interest rates will have a negative impact on bond funds. However, through reasonable liquidity management, such as rolling short-term bonds with high liquidity to obtain stable income, bond funds can effectively alleviate the negative impact of interest rate hikes. In the long run, raising interest rates is good for bond funds, because it can improve the holding period return of bond funds. For investors, they should pay attention to the portfolio announced by bond funds. If the bond funds they hold have substantially adjusted their investment varieties, increased short-term bonds and reduced long-term bonds in the first half of this year, and controlled the investment duration of the funds at a relatively low level, there is no need for holders to redeem bond funds because of interest rate hikes. For investors who are going to invest in bond funds, bond funds that invest in short-term bonds are less affected by interest rate hikes and can still maintain a relatively stable rate of return compared with bond funds that invest in medium-and long-term bonds. In addition, the current stock market trend is improving, so investors should treat pure debt base, primary debt base and secondary debt base differently. Last week, the average net loss of pure debt funds was .58%, while the weekly average net loss of primary debt funds and secondary debt funds was .17% and .29% respectively, which was lower than that of pure debt funds, thanks to the stock investment in these bond funds. For the new debt base, raising interest rates may bring better opportunities for opening positions. Therefore, investors can pay attention to the new debt base at present.