中信证券研报认为特朗普正式签署“大而美”法案(简称“OBBB法案”)内容涵盖保守派的广泛政治议程并到2034年使政府赤字

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中信证券研报认为特朗普正式签署“大而美”法案(简称“OBBB法案”)内容涵盖保守派的广泛政治议程并到2034年使政府赤字累计扩大3.4万亿美元。关于美债市场法案进一步提升美国未来债务压力预计这将导致中长期长端美债利率中枢上行。关于美股市场6月下旬以来美股业绩预期的修正已企稳反弹OBBB法案利空美股医疗和新能源可关注估值和业绩更为匹配的科技行业、受益于再工业化进程和政策利好的制造业、中上游资源品以及核电行业。关于美股科技板块法案利好科技巨头、AI、半导体设备等。关于能源产业法案使新能源受到冲击但储能政策有所缓和;法案积极推动传统能源的复兴可关注核电等行业的发展。

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