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综述丨债务风险担忧加剧 多国长债收益率攀升
Xin Hua Wang·2025-09-04 13:18

Group 1 - Global long-term bond yields have surged due to concerns over government debt, potential inflation, and political instability, leading to increased uncertainty and risk for investors holding long-term bonds [1] - The yield on the US 30-year Treasury bond approached 5%, with the yield spread between 2-year and 30-year bonds reaching its highest level since December 2021, indicating investor worries about the sustainability of US government debt and rising inflation [1] - Japan's 30-year bond yield hit a historic high of 3.28%, while the UK's reached 5.752%, the highest since 1998, and Germany's rose to 3.37%, nearing a 14-year peak, reflecting widespread concerns about fiscal discipline and debt sustainability [1] Group 2 - In the UK, rising long-term borrowing costs are attributed to investor anxiety regarding the upcoming autumn budget and fiscal measures, with the Chancellor set to announce plans on November 26 [2] - Germany's significant investments in infrastructure and defense have raised concerns about fiscal expansion potentially increasing long-term interest rates in the Eurozone, as noted by economists [2] - France's long-term borrowing costs surged to their highest level since 2011, driven by fears of political instability affecting fiscal consolidation efforts, which could lead to increased debt levels [2]