If investors demand higher liquidity, they can choose money funds. If investors pursue higher returns, they can choose reverse repurchase of government bonds. The yield of reverse repurchase of national debt is higher than that of money fund, but the liquidity is lower than that of money fund. Money fund is a kind of fund, which mainly invests in money market instruments, such as deposits, certificates of deposit, interbank lending, short-term bonds and so on. Reverse repurchase of national debt is a kind of bond. Reverse repurchase of national debt means taking national debt as collateral, lending it money and giving you certain interest. 1. Average value of national debt repurchase and reverse repurchase: 1. Treasury bond repurchase refers to the credit behavior of borrowing funds with treasury bonds listed on the exchange as collateral. In fact, the holders of spot treasury bonds use their securities as collateral to obtain a certain right to use funds, and then return the borrower's funds and interest after maturity. 2. The reverse repurchase of government bonds refers to a short-term lending method, that is, individuals lend their own funds in the government bond repurchase market and then obtain fixed interest income from it. 2. What is a money fund? What is a money fund? Money fund is actually the abbreviation of money fund, which refers to the open-end fund whose investment scope is money market. Money market is a short-term capital market, which refers to a financial market with a financing period of less than one year. It is an important part of the financial market. Because the financial instruments contained in this market are mainly short-term credit instruments issued by the government, banks and industrial and commercial enterprises, which have the characteristics of short term, strong liquidity and low risk, they are called "quasi-currency" after cash currency and deposit currency in the level of money supply. What exactly is a money fund? Monetary fund assets mainly invest in short-term monetary instruments (generally within one year, with an average term of 120 days), such as treasury bonds, central bank bills, commercial bills, bank time deposit certificates, government short-term bonds, corporate bonds (with high credit rating), interbank deposits and other short-term securities, which ordinary people cannot directly buy, but need to be purchased through fund companies and then divided into several shares with everyone.