贝莱德:日本利率重置影响已超越国界

格隆汇
Sep 09
贝莱德策略师在一份研究报告中表示,随着资本竞争加剧,日本利率重置的影响已超越其国界。策略师认为,债券市场之间存在一个反馈循环:“美国利率上升可能削弱日元,并施压日本央行加快行动;而日本利率上升可能吸引更多资本回流,削弱对美国国债的需求,从而推高美国借贷成本。”他们指出,数十年来日本国内超低收益率使该国成为主要的资本输出国,目前持有约1.1万亿美元美国国债。日本投资者若将5%的资金汇回国内,将相当于550亿美元,约为去年外国投资者增持美债总额的四分之一

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