告别同步宽松时代 全球利率步入差异化正常化阶段

Core Viewpoint - The global interest rate market is transitioning from a phase of synchronized monetary easing among major economies to a phase of differentiated normalization, leading to varying stages of monetary policy across countries [1] Group 1: Monetary Policy Insights - Candriam suggests that duration should primarily be used as a hedging tool, focusing on relative value and curve positioning rather than solely on duration risk [1] - The Federal Reserve is expected to stabilize interest rates at neutral levels, which may result in a mild steepening of the U.S. Treasury yield curve [1] - The European Central Bank is advised to proceed cautiously and maintain interest rates at current levels for the time being [1] - The Bank of Japan is expected to pursue policy normalization through interest rate hikes [1]