今年以来美国、英国、法国和日本等国的较长期主权债券收益率大幅攀升使得收益率曲线达到数年来最陡水平之一。但尽管这种重估常被归因于政府大量借贷和财政赤字贝莱德投资与投资组合解决方案全球负责人Alex Brazier则认为这些全球走势并不反映市场对财政状况的担忧而是市场对利率中性水平的预期以及为了让投资者愿意买入长期债券而非短期债券所需的溢价。贝莱德认为如今中性利率水平高于过去部分原因在于更宽松的财政政策但也包括高投资支出等因素尤其是人工智能领域的投资。
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