美国扩大国债回购规模前一天,投资者创纪录押注长期美债ETF

格隆汇
Aug 20
就在美国财政部意外宣布扩大长期国债回购规模、推动债市上涨的前一天,一名或多名投资者周二大举买入一只对美国长期国债收益率波动高度敏感的ETF。当天,规模达15亿美元的PIMCO 25年以上期零息美国国债指数ETF吸引了创纪录的1.23亿美元资金流入,成交量则跃升至520万股,接近2024年创下的此前峰值的两倍。该ETF投资于所谓的“剥离式国债”(STRIPS),即将债券本金和利息支付分离后形成的零息证券,因此能够放大对美国长期利率走势的押注。该ETF周三上涨3.2%,为自2024年11月以来的最大涨幅。然而,由于通胀和财政赤字引发的担忧影响了长期国债,今年该基金已累计下跌5.4%。该基金的债券持仓有效久期约为28年,这意味着收益率每下降1个百分点,其价格将上升约28%。

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