国外 1. 花旗：预计9月核心通胀将有所降温 花旗经济学家预计，9月份核心CPI将上涨0.28%，低于8月份的0.35%。虽然关税可能会使商品价格保持 坚挺，但住房通胀放缓应会缓解整体服务通胀。政府关门可能会推迟数据的发布，但花旗表示，劳动力 市场走软和房价降温降低了持续通胀的风险。 2. 巴克莱：黄金上涨反映市场对现有财政与货币秩序的不信任 巴克莱全球研究主席Ajay Rajadhyaksha在一份报告中表示，今年黄金价格的上涨，标志着市场对现有财 政和货币秩序的不信任感正在加剧。他指出，四个主要经济体——美国、英国、法国和日本——的债务 负担均超过各自GDP的100%，而它们的财政状况仍在恶化。他补充说："最重要的是，几乎没有政治意 愿去进行财政整顿。"与此同时，其他传统的避险资产，例如日元和瑞士法郎，正在失去部分吸引力。 Rajadhyaksha称，黄金通常在经济摇摇欲坠或金融市场崩溃时上涨。他认为，尽管金融市场目前表现健 康，但黄金最近的上涨应该引起政策制定者的警惕。 3. 荷兰国际：预计黄金牛市将持续，但"世界和平"可能导致金价下跌 荷兰国际集团认为黄金的牛市仍有进一步上涨空间。该机构预计黄金价格将 ...

Group 1 - French Agricultural Credit Bank analysts indicate that Japan's corporate capital expenditure is expected to become cautious due to U.S. tariffs and concerns over global economic slowdown, potentially leading to a quarter-on-quarter contraction in Japan's economy in Q3 2025 [2] - Barclays Bank reports a surge in European high-yield bond issuance driven by refinancing needs and increased dividend payments, with issuance surpassing €80 billion since 2025, marking the second-highest level for the period [2] - ING analysts suggest that if geopolitical risks ease, the dollar may face downward pressure due to reduced safe-haven demand, while strong U.S. inflation data has led to a reassessment of Federal Reserve rate cut expectations, supporting the dollar [3] Group 2 - Analysts believe the Bank of England may maintain a cautious interest rate stance for the remainder of 2025, with expectations to pause rate cuts in September and December, providing key support for the pound [4]

Group 1 - The core viewpoint of the articles highlights a significant increase in the allocation of eurozone government bonds by official institutions, with their subscription rate rising from 16% last year to 20% this year [1][2] - Concerns over the dollar's status as a safe-haven currency have emerged due to fluctuating U.S. trade policies and criticism of the Federal Reserve, leading to a 9% decline in the dollar and a 12% increase in the euro [1][2] - The relative political stability, lower budget deficits, and inflation levels in Europe make eurozone bonds more attractive to central banks [1][2] Group 2 - Barclays' analysis indicates that official institutions, including central banks and sovereign wealth funds, have significantly increased their subscriptions to eurozone government bonds, with notable demand from Asian institutions [2] - The issuance of bonds through syndication has raised over €200 billion (approximately $232.4 billion) for eurozone governments last year, making it a crucial financing channel [2] - Despite the rising demand for eurozone bonds, industry experts caution that it is too early to determine if central banks are meaningfully adjusting their currency allocations due to ongoing focus on U.S. dollar assets [3]

Group 1 - Eurozone government bond yields fell after the release of U.S. data [1] - The yield on Germany's 10-year government bonds increased by 0.5 basis points to 2.53% [1]

Group 1 - Eurozone government bond yields increased following the release of U.S. data [1] - The yield on Germany's 10-year government bonds narrowed its decline to 2 basis points, reporting at 2.47% [1]

智通财经4月23日电，三菱日联金融集团全球市场研究主管哈尔潘尼表示，投资者对美国资产失去信 心，欧元区政府债券有可能从中受益。哈尔潘尼说，德国国债的表现一直优于美国国债，而法国国债与 德国国债的收益率差相对稳定。 三菱日联：市场对美国资产丧失信心 欧元区债券可能受益 ...