MFS投资管理公司高级常务董事班诺特·安在最新研报中指出,当前债券市场存在多个异常特征,其中最显著的是美国短期与长期利率走势出现的重大分歧。
数据显示,自3月底以来,两年期美债收益率已下跌8个基点,而10年期美债收益率却攀升22个基点。
“这种相关性崩溃并不常见,”安表示,“两年期与10年期收益率的相关性上次出现如此低位还要追溯到2022年,当时处于完全不同的货币政策环境。”他解释道,彼时前端利率主导市场走势,反映出美联储释放的鹰派政策信号。
责任编辑:王许宁
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