凯投宏观：美债期限溢价或下行 发达市场主权债券收益率料随势微跌

Core Viewpoint - The analysis suggests that the U.S. term premium is expected to decline, leading to a slight decrease in sovereign bond yields across most developed markets [1] Group 1: U.S. Treasury Market - The anticipated decline in the U.S. term premium is linked to easing trade tensions, which may reduce the compensation investors require for holding long-term bonds [1] - The report indicates that if the predicted decline in the 10-year U.S. Treasury term premium occurs, it would not be surprising to see a moderate decrease in the term premiums of other high-rated 10-year government bonds [1]