高盛:美国长期利率波动显现财政担忧

金融界
31 Jul

高盛策略师在一份报告中称,美国利率波动呈现出前端利率波动骤降与尾部曲线长期端波动之间的反差,基于财政方面的担忧,“长期端波动中的风险溢价比直接收益率中体现得更为明显”。过去一个月,尽管 “宏观不确定性犹存,且对美联储独立性的担忧暗流涌动”,但前端隐含波动率持续压缩——其可能的驱动因素包括关税风险的清晰度提高以及 “美国潜在通胀趋势放缓”。策略师们写道,与以往的利率周期相比,前端波动率的压缩存在...

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