市场担心沃什重启QT?但真正的工具可能是SOMA

华尔街见闻
Feb 02

特朗普提名Kevin Warsh(凯文·沃什)担任下任美联储主席,引发市场对资产负债表收缩的担忧。虽然沃什以资产负债表鹰派立场著称,但花旗认为完全重启QT(量化紧缩)的可能性不大。 花旗分析师认为,真正值得关注的是美联储SOMA投资组合的加权平均到期期限(WAM)调整——通过将到期券种转为短期国债,美联储可以在不引发市场动荡的情况下实现资产负债表"瘦身"。这一策略可能在2026年下半年至2027年...

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