德国财政扩张推升收益率预期 多家大行警示德债风险

Core Viewpoint - Germany's fiscal expansion is increasing debt supply and driving economic growth, leading to warnings from major global banks regarding German government bond risks [1] Group 1: Economic Impact - The fiscal spending actions in Germany are expected to boost economic growth [1] - Major banks are adjusting their forecasts for German bond yields due to this fiscal expansion [1] Group 2: Yield Predictions - Goldman Sachs strategists predict that the 10-year German government bond yield will reach 2.80% by the end of 2025 and 3.25% by 2026 [1] - HSBC's Chris Attfield and other strategists have raised their yield forecasts, citing fiscal expansion and the potential for the European Central Bank to reduce bond purchases next year [1] - The 10-year yield forecast for the end of 2025 has been increased by 25 basis points to 2.45%, while the 30-year yield forecast has been raised by 45 basis points to 3% [1]