研究中心宏观团队 2025/06/13 | | 全 球 资 产 市 场 表 现 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 主要经济体10年期国债收益率 | | | | | | | | | | | 美国 | 英国 | 法国 | 德国 | 意大利 | 西班牙 | 瑞士 | 希腊 | | 2025/06/12 | 4.361 | 4.475 | 3.180 | 2.475 | 3.404 | 3.076 | 0.233 | 3.210 | | 最新变化 | -0.061 | -0.076 | -0.045 | -0.059 | -0.041 | -0.041 | -0.031 | -0.033 | | 一周变化 | -0.032 | -0.140 | -0.071 | -0.104 | -0.121 | -0.081 | -0.038 | -0.087 | | 一月变化 | -0.177 | -0.237 | -0.198 | -0.222 | -0.306 | -0.240 | -0.121 | -0.248 ...

日本20年期国债收益率下跌3个基点，至2.365%。 ...

Group 1 - The US Producer Price Index (PPI) for May showed a lower-than-expected growth rate, indicating continued moderate inflation, which has increased market expectations for a Federal Reserve interest rate cut [1][2] - The 10-year US Treasury yield fell by 6.11 basis points to 4.36%, reaching a new low since early May, while the 20-year and 30-year yields also dropped over 7 basis points [1] - The US Treasury issued $22 billion in 30-year bonds with a bid-to-cover ratio of 2.43, indicating strong demand despite a slight decrease in the indirect bid ratio [1][2] Group 2 - The May PPI increased by 0.1% month-on-month, below the expected 0.2%, while the year-on-year growth was 2.6%, slightly higher than April's 2.4% [2] - Core PPI, excluding food and energy, rose by 0.1% month-on-month, lower than the expected 0.3%, and the year-on-year increase was 3.0%, slightly above expectations [2] - The probability of a Federal Reserve rate cut before September has risen to approximately 80%, reflecting increased investor confidence in a potential easing of monetary policy [2]

Core Viewpoint - The yield on Japan's 5-year government bonds has decreased by 5 basis points to 0.96%, marking the lowest level since May 12 [1] Group 1 - The decline in the 5-year bond yield indicates a potential shift in investor sentiment towards safer assets [1] - The current yield level reflects ongoing economic conditions and monetary policy considerations in Japan [1]

智通财经6月13日电，美国10年期国债收益率下跌2个基点至4.34%。 ...

美国10年期国债收益率下跌2个基点至4.34%。 ...

美国国债全线上涨，10年期国债收益率下跌4个基点至4.32%。 ...

Core Viewpoint - The U.S. 10-year Treasury yield decreased by 6.11 basis points, closing at 4.3592%, indicating a downward trend throughout the day [1] Group 1: Treasury Yields - The 10-year Treasury yield traded within a range of 4.4184% to 4.3396% during the day [1] - The 2-year Treasury yield fell by 4.38 basis points, ending at 3.9077%, with intraday trading between 3.9494% and 3.8743% [1] Group 2: Economic Indicators - The decline in yields occurred ahead of the release of the U.S. employment weekly report and PPI at 20:30 Beijing time, which caused a sharp drop in yields [1]

Group 1 - The upcoming $22 billion 30-year Treasury auction is seen as a critical test for the market, especially as the yield approaches a 20-year high [1] - The proposed tax reform by Trump is expected to increase the U.S. budget deficit by trillions, potentially leading to more bond issuance [1] - Investor demand for long-term U.S. debt has weakened, with higher yields being demanded as compensation, pushing the 30-year yield to 5.15%, the highest in nearly two decades [1][2] Group 2 - The 5% yield threshold has become a focal point for the market, attracting buyers as it is perceived as a ceiling before the auction [2] - There is a consensus among bond managers, including DoubleLine Capital and PIMCO, to favor shorter-duration U.S. Treasuries while reducing exposure to long-term bonds due to refinancing risks and the tax reform's impact [3] - Some analysts, like Guneet Dhingra from BNP Paribas, suggest that the current levels of 30-year Treasuries reflect worsening fiscal conditions and may rebound if auction demand is strong or deficit concerns ease [3]

美元指数短线下跌约20点，现报97.70。美国10年期国债收益率短线下跌，现报4.371%。美股期货短线 小幅拉升，纳斯达克100指数期货跌幅收窄至0.5%。现货黄金短线波动不大，现报3384.72美元/盎司。 ...