专题：遭穆迪下调信用评级 美国彻底告别“AAA”
摩根大通策略师Jay Barry在一份报告中表示，长期来看，穆迪下调美国评级可能会导致利息支出增加，此举将使美债相对于匹配期限的隔夜指数掉期（OIS） 价格走低。
他们在周日一份报告中写道，鉴于需求格局发生结构性转变，贸易和货币政策存在不确定性，短期内风险倾向于熊陡。
这一事件导致的波动程度应该会比4月初“解放日”关税公告后出现的波动更小，因为投资者的仓位现在更加中性，而且不太可能像上个月那样出现夸大基本面的市场波动。
报告还称，在其他条件相同的情况下，穆迪此次下调评级一档，应会使30年期掉期利差缩小约5个基点。然而，美债似乎已经显示出比其他类似评级的发达市场主权债券更高的风险溢价，表明价格降低的幅度可能比这些系数所暗示的要小。
责任编辑：王永生
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