10年期通胀保值国债（TIPS）收益率跌2.41个基点，至1.7551%，本周累跌12.25个基点；两年期TIPS收 益率跌0.59个基点，至0.7077%，本周累跌0.25个基点；30年期TIPS收益率跌1.99个基点，至2.4636%， 本周累跌12.01个基点。 格隆汇2月14日｜周五（2月13日）纽约尾盘，美国10年期国债收益率跌4.98个基点，报4.0483%，本周 累计下跌15.77个基点，整体震荡下行。两年期美债收益率跌5.45个基点，报3.4014%，北京时间21:30发 布美国CPI通胀数据时跌至3.3951%，创最近2022年以来新低，本周累跌9.62个基点；30年期美债收益率 跌3.75个基点，报4.6953%，本周累跌15.57个基点。2/10年期美债收益率利差涨0.477个基点，报+64.486 个基点，本周累跌5.945个基点。 ...

2月13日，美国1月未季调CPI年率从2.7%回落至2.4%，创2025年5月以来新低，市场预期中值2.5%。1月未季调核心CPI年率从2.6%回落至2.5%，创2021年 3月以来新低，符合市场预期。 CPI数据公布后，美元指数回落至97关口下方，美股三大期指温和反弹。现货黄金涨逾1%，现货白银涨幅扩大至近5%。两年期美债收益率跌至3.4%附 近，创去年10月以来新低。 据智通财经，美国利率期货小幅提高美联储6月放宽政策的概率至69%，高于CPI数据公布前的63%。交易员们预计美联储今年降息第三次的概率为50%。 在CPI数据公布后，2026年美联储降息幅度预期已升至61个基点，而此前仅为58个基点。 | W | | 伦敦会现 | | | | --- | --- | --- | --- | --- | | | | SPTAUUSDOZ.IDC | | | | 4981.550 | 昨结 | | 4924.304 | 开营 4927.743 | | +57.246 | +1.16% | 总量(kq) 0.00 | | 现手 O | | 最高价 | 4999.940 | 持 仓 | 0 | A 물 0 | | ...

Group 1 - The latest Consumer Price Index (CPI) data from the U.S. Bureau of Labor Statistics indicates a further slowdown in inflation growth, prompting the market to reassess the Federal Reserve's policy path [1] - In January, the overall CPI increased by 0.2% month-on-month, below the market expectation of 0.3%, and the year-on-year growth rate recorded 2.4%, also below the expected 2.5%, marking the smallest increase since May of the previous year [1] - The core CPI, excluding volatile food and energy prices, rose by 0.3% month-on-month, in line with market expectations, while the year-on-year growth rate fell to 2.5%, matching expectations and indicating the slowest growth since March 2021 [1][3] Group 2 - The decline in inflation is primarily attributed to a significant drop in energy prices, with the energy index falling by 1.5% in January, and gasoline prices dropping by 3.2%, alleviating upward pressure on overall inflation data [3] - Housing costs remain a major contributor to inflation, increasing by 0.2% in January, but this increase is relatively mild compared to previous years, providing strong support for the inflation outlook [3] - Current CPI levels suggest that the Federal Reserve is nearing its 2% inflation target, although the market may not price in an earlier rate cut, a slight reduction in terminal rates is deemed reasonable based on current data [3]

Group 1 - The yield on the 10-year U.S. Treasury rose by 0.40 basis points to 4.2469%, reaching a daily low of 4.2310% before rebounding to a high of 4.2747% later in the day [1] - The 2-year Treasury yield increased by 2.35 basis points to 3.6079%, accelerating its rise since 20:00 and hitting a high of 3.6206% at 00:10 [1] - The yield on the 30-year Treasury decreased by 1.64 basis points to 4.8457% [1] Group 2 - The 2/10 year Treasury yield spread fell by 1.548 basis points to +63.881 basis points [1] - The yield on the 10-year Treasury Inflation-Protected Securities (TIPS) rose by 1.90 basis points to 1.8804%, rebounding after the release of the 10-year TIPS auction results [1] - The 2-year TIPS yield increased by 3.53 basis points to 0.9974%, while the 30-year TIPS yield rose by 0.24 basis points to 2.5838% [1]

Core Insights - The two-year U.S. Treasury yield rose sharply, increasing by over 6.2 basis points this week, closing at 3.5945% [1] - The 10-year Treasury yield also saw an increase of 5.75 basis points, closing at 4.2269%, with a weekly rise of 5.96 basis points [1] - The 30-year Treasury yield increased by 3.96 basis points, closing at 4.8355%, with a weekly rise of 2.24 basis points [1] Treasury Yield Movements - The yield spread between the 2-year and 10-year Treasury notes increased by 2.723 basis points to +62.833 basis points, with a weekly decline of 0.285 basis points [1] - The 10-year Treasury Inflation-Protected Securities (TIPS) yield rose by 2.16 basis points this week to 1.8813% [1] - The two-year TIPS yield increased by 0.62 basis points to 1.0411%, while the 30-year TIPS yield rose by 0.41 basis points to 2.5822% [1]

Group 1 - The two-year U.S. Treasury yield rose rapidly, increasing by 6.24 basis points this week, with a final rate of 3.5945% [1] - The ten-year Treasury yield increased by 5.96 basis points this week, reaching 4.2269% [1] - The thirty-year Treasury yield saw a rise of 2.24 basis points this week, ending at 4.8355% [1] Group 2 - The yield spread between the two-year and ten-year Treasury notes increased by 2.723 basis points, totaling +62.833 basis points, with a weekly decline of 0.285 basis points [2] - The ten-year Treasury Inflation-Protected Securities (TIPS) yield rose by 2.16 basis points this week, reaching 1.8813% [2] - The two-year TIPS yield increased by 0.62 basis points this week, totaling 1.0411% [2]

Group 1 - The yield on the 10-year U.S. Treasury rose by 5.75 basis points to 4.2269%, with a cumulative increase of 5.96 basis points for the week [1] - The 2-year U.S. Treasury yield increased by 3.03 basis points to 3.5945%, with a weekly rise of 6.24 basis points following President Trump's comments on the likelihood of White House advisor Hassett becoming the Federal Reserve Chairman [1] - The 30-year U.S. Treasury yield climbed by 3.96 basis points to 4.8355%, with a total weekly increase of 2.24 basis points [1] Group 2 - The yield spread between the 2-year and 10-year U.S. Treasuries increased by 2.723 basis points to +62.833 basis points, with a weekly decline of 0.285 basis points [1] - The yield on the 10-year Treasury Inflation-Protected Securities (TIPS) rose by 2.16 basis points to 1.8813% for the week [1] - The 2-year TIPS yield increased by 0.62 basis points to 1.0411%, while the 30-year TIPS yield rose by 0.41 basis points to 2.5822% [1]

市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 风险提示及免责条款 现货黄金日内跌幅达1.5%，报4546.43美元/盎司。 标普跌0.18%，纳指跌0.2%，半导体指数涨幅收窄至 0.8%。 两年期美债收益率涨幅扩大至2.6个基点，刷新日高至3.59%上方。 美元指数短线从99.20点下方 反弹，重返99.33一线。 特朗普称，希望哈塞特继续担任白宫顾问。 ...

Group 1 - The core viewpoint of the article highlights the fluctuations in U.S. Treasury yields, with the 10-year yield rising by 3.15 basis points to 4.1635% during the trading session [1] - The 2-year Treasury yield increased by 5.24 basis points, reaching 3.5620%, with a notable short-term rally observed at 21:30 Beijing time [1] - The 30-year Treasury yield saw a modest rise of 0.71 basis points, closing at 4.7909% [1] Group 2 - The yield spread between the 2-year and 10-year Treasury notes decreased by 1.881 basis points, now at +59.937 basis points [1] - The 10-year Treasury Inflation-Protected Securities (TIPS) yield rose by 2.87 basis points to 1.8426% [1] - The 2-year TIPS yield increased by 5.75 basis points to 1.0582%, while the 30-year TIPS yield saw a slight increase of 0.12 basis points to 2.5527% [1]

Group 1 - The core viewpoint of the article highlights the mixed performance of U.S. Treasury yields at the end of December, with the 10-year benchmark yield rising while the 2-year yield experienced a significant decline throughout the year [1] - The 10-year Treasury yield increased by 4.51 basis points to 4.1670%, with a cumulative decline of 40.2 basis points for 2025, trading within a range of 4.5871%-3.8564% [1] - The 2-year Treasury yield rose by 2.47 basis points to 3.4730%, with an annual cumulative drop of 76.86 basis points, trading between 4.4214%-3.3737% [1] Group 2 - The yield spread between the 2-year and 10-year Treasury notes increased by 1.837 basis points to +68.986 basis points, with a cumulative increase of 36.457 basis points for the year [1] - The 10-year inflation-protected Treasury yield rose by 3.24 basis points to 1.8984%, with an annual cumulative decline of 32.93 basis points [1] - The 10-year Treasury yield reached its annual low on April 4, while the 2-year yield hit its low on October 17 [1]