长端美债利率短期仍有上冲可能

Market Overview - A-shares and Hong Kong stocks collectively declined on Thursday, with the Shanghai Composite Index down 0.22% to 3,380 points, and the Hang Seng Index down 1.19%[16] - European markets closed lower due to concerns over the U.S. fiscal outlook, with the Stoxx 600 index down 0.64%[9] - U.S. stock indices showed mixed results, with the Dow Jones down slightly by 1 point, while the Nasdaq rose 0.28% to 18,925.7 points[9] Fixed Income - Long-term U.S. Treasury yields have risen sharply, with the 30-year yield reaching a 19-month high of 5.15%[9] - The U.S. House of Representatives narrowly passed a tax and spending bill, raising concerns about increasing fiscal deficits, which pressured long-term bonds[30] - Asian investment-grade bonds performed well, with spreads narrowing by 2-4 basis points, driven by strong demand for high-rated and sovereign bonds[30] Commodities and Forex - Oil prices fell to near two-week lows, with WTI crude down 0.6% to $61.2 per barrel, amid OPEC+ discussions to increase production significantly[27] - The U.S. dollar index rebounded, with G-10 currencies generally declining against the dollar, except for the Canadian dollar[27] - Gold prices retreated, with New York gold down 0.56% to $3,295.0 per ounce[27] Economic Indicators - Recent U.S. economic data showed mixed signals, with initial jobless claims rising and existing home sales unexpectedly dropping to a seven-month low[30] - The U.S. manufacturing PMI improved to 52.3 in May, indicating a slight expansion in the manufacturing sector[30] Corporate Highlights - Google announced significant upgrades to its AI models and plans to launch smart glasses in 2026, reflecting its ongoing innovation in AI infrastructure[8] - Xiaomi launched its self-developed SoC, showcasing advancements in technology and potential future growth in the smartphone and IoT sectors[14]