作者 2026 年 1 月 26 日 日本央行按兵不动，地缘风险扰动全球市场 ——海外宏观周报（2026.1.19-2026.1.25） | | | 名称 | 2026/1/25 | 一周涨跌幅 | 年初至今涨跌幅 | | --- | --- | --- | --- | --- | --- | | 作者 | | 上证指数 | 4136 | 0.84% | 4.22% | | 东方金诚 研究发展部 | | 深证成指 | 14440 | 1.11% | 6.76% | | | | 标普 500 | 6916 | -0.35% | 1.02% | | 分析师 徐嘉琦 | | 道琼斯工业指数 | 49099 | -0.53% | 2.15% | | | | 纳斯达克指数 | 23501 | -0.06% | 1.12% | | 执行总监 冯琳 | 股市 | 英国富时 100 | 10143 | -0.90% | 2.14% | | | | 德国 DAX | 24901 | -1.57% | 1.68% | | | | 法国 CAC40 | 8143 | -1.40% | -0.08% | | | | 日经 225 | ...

每经AI快讯，1月26日，日本两年期国债收益率上涨2个基点至1.27%，创1996年以来新高。 ...

每经AI快讯，5年期日本国债收益率下跌2.5个基点，至1.665%。 （文章来源：每日经济新闻） ...

两年期日本国债收益率下跌1.0个基点，至1.240%。 ...

Report Core View - The structural interest rate cut has been implemented, increasing the demand for medium - and long - term bonds. The abundant capital, stable liquidity, and moderate inflation support bond prices. However, the slight decline in Treasury bond yields implies weakening demand, and the rising US Treasury yields increase the pressure of capital outflows. It is recommended to pay attention to the MA60 support level and maintain a wait - and - see position [2] Data Presented 1. Yield and Interest Rate - The report shows the trends of 2Y, 5Y, 10Y, 30Y, and 7Y Treasury bond yields from 2024/04 to 2025/12, the trends of deposit - type institutional pledged repurchase weighted interest rates for 1 - day and 7 - day and 7 - day reverse repurchase rate from 2023/12 to 2025/12, and the trends of 7Y - 2Y and 30Y - 7Y Treasury bond term spreads from 2024/04 to 2025/12 [3] 2. Futures Position and Transaction Volume - The trends of 2 - year, 5 - year, 10 - year, and 30 - year Treasury bond futures positions from 2015/12 to 2025/12 and the trends of their trading volumes from 2024/04 to 2025/12 are presented [5][6] 3. Futures Basis and Spread - The trends of the basis of 2 - year, 5 - year, 10 - year, and 30 - year Treasury bond futures' current - quarter contracts are shown. Also, the trends of the current - quarter minus next - quarter spreads of 2 - year, 5 - year, 10 - year, and 30 - year Treasury bond futures are presented. Additionally, the trends of TS*4 - T and T*3 - TL cross - variety spreads are provided [7][14][16]

Group 1 - The core viewpoint of the article highlights the fluctuations in French government bond yields, with the 10-year yield decreasing by 2.2 basis points to 3.494% and a total decline of 2.4 basis points for the week [1] - The 2-year French bond yield increased by 0.5 basis points, remaining stable for the week at 2.278% [1] - The 30-year French bond yield fell by 3.3 basis points to 4.396%, with a cumulative decline of 1.3 basis points for the week [1]

每经AI快讯，周五(1月23日)欧市尾盘，意大利10年期国债收益率跌0.2个基点，报3.513%，本周累涨5.9 个基点。西班牙10年期国债收益率涨0.1个基点，报3.272%，本周累涨5.2个基点。希腊10年期国债收益 率涨0.2个基点，报3.510%，本周累涨16.1个基点。 ...

每经AI快讯，周五(1月23日)欧市尾盘，英国10年期国债收益率涨3.8个基点，报4.512%，本周累涨11.2 个基点；两年期英债收益率涨4.9个基点，报3.731%，本周累涨6.5个基点；30年期英债收益率涨2.5个基 点、本周累涨11.9个基点。 ...

每经AI快讯，1月23日，英国10年期国债收益率将创下自4月以来的最大单周涨幅，累计上涨12个基 点。 ...

每经AI快讯，1月23日，英国国债延续跌势，两年期国债收益率上涨5个基点至3.74%。 ...