鹏华基金认为,地缘政治博弈的反复性预计将导致原油价格维持高波动率,美联储主席沃什近期的表态整体偏鸽,但政策路径不确定性仍大。在能源价格冲击与政策预期反复叠加之下,美债市场波动性预计将进一步加剧,期限溢价双向波动空间扩大。
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