贝森特频施“组合拳”,特朗普政府或谋求渐进式弱美元

格隆汇
Sep 10
美国财长贝森特近期动作频繁:与日本协调采取联合干预措施以提振日元,推动韩国采取类似干预措施,同时在幕后努力控制美国国债收益率。这三项行动,叠加过去18个月的保护主义政策和一系列双边贸易安排,让估值过高的美元贬值。Eurizon SLJ货币基金经理Stephen Jen近期指出,要从整体上设计出美元走弱极其困难,尤其是在不损害海外投资者巨额美股和美债持仓的情况下。他认为,美国政府可能选择了一条更加“碎片化”的路径,以达到整体效果。一种方式是设计若干个小型的“海湖庄园协议”(即通过与主要贸易伙伴逐一进行小规模的汇率政策协调),来逐步削弱美元价值,同时避免让市场形成美元未来将持续走弱的普遍预期。

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