高盛：全球信用利差收窄至2007年以来最低水平 建议做好对冲

Core Viewpoint - Goldman Sachs warns investors to hedge risks as global credit spreads narrow to the lowest level since 2007, despite signs of economic weakness and the absence of clear signals from the Federal Reserve regarding interest rate cuts [1] Group 1: Credit Spreads and Economic Indicators - The global investment-grade corporate bond credit spread has narrowed to 79 basis points, the lowest level since July 2007, just before the onset of the global financial crisis [1] - Recent trade agreements between the U.S. and its trading partners have clarified tariff prospects, leading investors to overlook short-term economic growth weaknesses as long as recession risks remain manageable [1] Group 2: Federal Reserve and Market Signals - Despite the narrowing credit spreads and the S&P 500 index reaching a new all-time high, the Federal Reserve has not provided clear signals of imminent interest rate cuts, indicating a need for more data to confirm that inflation risks are not persistent [1] - Goldman Sachs emphasizes that there are still significant downside risks, suggesting that investors should maintain some hedging measures in their portfolios [1]