日本五年期国债发行需求创2025年6月以来新高

格隆汇
Aug 18
周二日本五年期国债拍卖需求创下2025年6月以来新高,较高的收益率支撑了买盘。此次拍卖的投标倍数为4.15,高于上一次的3.43,也高于过去12个月3.34的平均水平。另一个投资者兴趣浓厚的迹象是, 尾价 (即平均价格与最低成交价之间的差距)为0.02,而上月为0.03。近几周来,日本国债收益率持续上升,据称日本首相高市早苗领导的政府支持日本央行近期加息。隔夜指数掉期显示,市场预计日本央行在9月前加息的概率为75%,10月加息则已被市场完全定价。收益率飙升之际,全球投资者对债券的信心正在减弱,投资者要求获得更高的补偿,以承担久期风险。30年期美国国债收益率升至近20年来最高水平,反映出投资者对政府支出激增、长期债券大量发行以及通胀持续的担忧。

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