发生了什么？全球公债收益率突然飙高

Group 1 - Strong precious metal prices have reached new highs, while global bond yields have surged, causing market concerns [1] - The sell-off of corporate bonds and budget worries in developed countries have led to declines in both stock and bond markets, impacting investor sentiment in the U.S. stock market [1] - The 30-year U.S. Treasury yield rose to 5% for the first time since July 11, with the 10-year yield increasing by 5.3 basis points to 4.279% [1] Group 2 - The UK 30-year bond yield soared to 5.697%, the highest level since May 1998, raising pressure on the Chancellor of the Exchequer [4] - France's 30-year bond yield reached 4.523%, the highest since June 2009, as the Prime Minister began negotiations to prevent government collapse [4] - Germany's 30-year bond yield hit a 14-year high of 3.42%, while Japan's 30-year yield rose to 3.28% amid political uncertainties [4] Group 3 - The surge in global bond yields is attributed to concerns over fiscal deficits and debt sustainability in major countries, compounded by political uncertainties and challenges to central bank independence [6] - The volatility in the global bond market has heightened risk aversion, leading to a pullback in stock markets, particularly affecting interest-sensitive tech stocks [8] - Financial stocks, especially banks, have benefited from rising interest rates due to an expanded net interest margin [8] Group 4 - Market expectations indicate a 90% probability of a 25 basis point rate cut by the Federal Reserve in September, but rising yields due to fiscal concerns may limit this easing [9] - Key economic data, such as the U.S. non-farm payroll report for August, will be crucial for predicting the Fed's policy direction [11] - Political developments in Europe, including the stability of the French government and the UK budget, will significantly influence market trends [11]