Workflow
法国国债
icon
Search documents
陡峭化加剧!通胀升温与财政赤字风险叠加 全球长期公债收益率抬升
智通财经网· 2025-08-27 03:54
智通财经APP获悉,周二,从美国到法国和英国的长期债券价格大幅下跌,延续了今年因投资者对通胀 和政府开支的担忧加剧而引发的抛售潮。 在特朗普推动解除美联储理事莉萨·库克职务之后,30 年期美国国债的收益率上升至 4.9%。在英国,同 样期限的国债收益率接近 27 年来的最高点,而日本的国债收益率则已接近历史最高水平。与此同时, 由于法国总理宣布将举行信任投票,投资者也推高了法国的借贷成本。 这些举措出于不同的原因而相继发生,却共同凸显了今年令债券投资者深感忧虑的一系列问题:美联储 独立性的削弱、政治动荡以及不断扩大的财政赤字。 杰富瑞公司外汇业务全球主管Brad Bechtel表示:"全球债券市场的长期端正面临压力。"他还指出,日 本 30 年期国债收益率的"持续攀升"无疑正在加大对全球其他地区的压力。 美国国债 周二,5 年期和 30 年期美国国债收益率之间的差距扩大了 7 个基点,达到 117 个基点——这是自 2021 年以来的最大涨幅。彭博美元现货指数下跌了 0.2%。 投资者和策略师们猜测,如果特朗普成功让库克被一位更倾向于降低借贷成本的政策制定者所取代,那 么物价压力可能会进一步加剧。Neuber ...
每日机构分析:8月26日
Xin Hua Cai Jing· 2025-08-26 15:18
·法农信贷:预计美联储今年将降息两次终端利率为4% ·瑞讯银行:特朗普与美联储的最新戏剧性事件再次引发市场担忧 ·德国商业银行:美元的回升空间有限 ·德意志银行:美国公司可能更容易受到关税影响 ·法国国债因政治风险遭抛售吸引日本买家 ·马来亚银行:泰国央行可能在2026年底前再降息两次 【机构分析】 ·法国农业信贷银行目前预计美联储今年将两次降息,一次在9月,一次在12月。但与其他机构不同的 是,他们预计最终利率要高得多,他们预计政策暂停期将延长,目标利率为4.00%。该行认为,粘性通 胀将使美联储采取激进宽松政策的空间更加有限,尽管美国经济正在放缓,但尚未陷入衰退。关税转嫁 将导致通胀再次加速,尽管可能是暂时的。尽管最近数据有所恶化,但劳动力市场仍然相对健康,这将 使美联储有更大的空间不屈服于要求更激进宽松周期的呼声。 ·瑞讯银行分析师Ipek Ozkardeskaya表示,特朗普解雇美联储理事丽莎·库克让市场处于紧张状态,阻止 了美元的反弹,因为人们预计库克将被一名固执的降息派取代。库克此前直言不讳地谈到了关税对通胀 的影响,称关税可能推高物价,迫使政策制定者在更长时间内将利率维持在较高水平,从而使美联储 ...
法国国债因政治风险遭抛售,吸引日本买家
Sou Hu Cai Jing· 2025-08-26 06:26
一些日本投资者将法国政府垮台的风险引发的法国国债抛售视为买入良机。Five Vestar Asset Management Co.和Nissay Asset Management Corp.说,债市跌可能是在发过市场配置资金的一个窗口, 法国是日本基金的第三大海外投资目的地。他们提出的一个原因是,法国10年期国债对德国10年期国债 的收益率溢价创下4月份以来的最高水平。"我们正积极寻求买进法国国债的机会,因法国与德国国债的 利差正在扩大,"Nissay Asset Management Corp.驻东京战略投资部高级总经理Eiichiro Miura表示。"在信 任投票被否决之前,有可能达成某种妥协。"周二,在法国总理贝鲁呼吁在9月8日对其政府进行信任投 票以巩固支持之后,法国国债期货在亚洲交易市场跌至3月份以来的最低水平。 来源:金融界AI电报 ...
金十图示:2025年07月21日(周一)欧盘市场行情一览
news flash· 2025-07-21 11:06
Group 1: Precious Metals - Spot platinum (XPTUSD) is priced at 1446.940, increasing by 24.700 or 1.74% [2] - Spot palladium (XPDUSD) is priced at 1294.303, increasing by 14.188 or 1.11% [2] - Gold (COMEX) is priced at 3373.100, increasing by 17.400 or 0.52% [2] - Silver (COMEX) is priced at 38.845, increasing by 0.420 or 1.09% [2] Group 2: Foreign Exchange - Euro to USD (EURUSD) is at 1.165, increasing by 0.20% [4] - GBP to USD (GBPUSD) is at 1.346, increasing by 0.37% [4] - USD to JPY (USDJPY) is at 147.755, decreasing by 0.72% [4] - AUD to USD (AUDUSD) is at 0.651, increasing by 0.11% [4] - USD to CHF (USDCHF) is at 0.800, decreasing by 0.15% [4] Group 3: Cryptocurrencies - Bitcoin is priced at 118578.140, increasing by 1313.020 or 1.12% [5] - Litecoin is priced at 118.370, increasing by 1.780 or 1.53% [5] - Ethereum is priced at 3811.020, increasing by 54.330 or 1.45% [5] - Ripple (XRP) is priced at 3.552, increasing by 0.099 or 2.86% [5] Group 4: Treasury Bonds - The yield on the 2-year U.S. Treasury bond is at 3.848 [7] - The yield on the 5-year U.S. Treasury bond is at 3.913, decreasing by 0.048 or 1.21% [8] - The yield on the 10-year U.S. Treasury bond is at 4.376, decreasing by 0.055 or 1.24% [8] - The yield on the 30-year U.S. Treasury bond is at 4.950, decreasing by 0.049 or 0.98% [8] - The yield on the 10-year UK Treasury bond is at 4.627, decreasing by 0.047 or 1.01% [8] - The yield on the 10-year German Treasury bond is at 2.633, decreasing by 0.059 or 2.19% [8] - The yield on the 10-year French Treasury bond is at 3.329, decreasing by 0.068 or 2.00% [8] - The yield on the 10-year Italian Treasury bond is at 3.510, decreasing by 0.068 or 1.90% [8] - The yield on the 10-year Japanese Treasury bond is at 1.522, decreasing by 0.037 or 2.37% [8]
债务狂飙,法国总理警告财政处悬崖边,减支预算计划来袭
Hua Er Jie Jian Wen· 2025-07-15 20:25
Core Viewpoint - The French government, led by Prime Minister François Béru, is set to announce a significant fiscal deficit reduction plan, which includes approximately €40 billion ($47 billion) in spending cuts and tax increases aimed at narrowing the largest budget gap in the Eurozone [1]. Group 1: Fiscal Measures - The proposed budget plan for 2026 focuses on both revenue generation and expenditure reduction, facing substantial resistance in both areas [4]. - The government aims to restore "tax fairness" by closing loopholes in the tax code rather than implementing broad tax increases on households and businesses [4]. - The plan includes a commitment to withdraw a corporate tax increase aimed at large companies, which complicates the fiscal balance challenge [4]. Group 2: Economic Context - France's fiscal difficulties have impacted the bond market, leading to increased borrowing costs, with the five-year government bond yield nearing the highest level in the Eurozone and the 30-year yield reaching its highest since 2011 at 4.2140% [1][2]. - The public spending as a percentage of GDP in France stands at 57%, which is seven percentage points higher than Germany, indicating a significant fiscal burden [4]. Group 3: Political Challenges - The lack of a majority in the National Assembly complicates Béru's ability to push through deep fiscal reforms, echoing the challenges faced by his predecessor, Michel Barnier [3]. - The government's limited control over local authorities and the social security system hampers its ability to reduce costs effectively, as these areas have seen expenditure growth outpace central finances [5]. - Political and fiscal uncertainties are eroding confidence among businesses and households, putting pressure on investment and consumption, with France's economic growth expected to lag behind the Eurozone average this year [5].
金十图示:2025年07月11日(周五)美盘市场行情一览
news flash· 2025-07-11 13:48
Group 1: Precious Metals - Spot platinum (XPTUSD) is priced at 1372.340, up by 11.790 or 0.87% [2] - Spot palladium (XPDUSD) is priced at 1244.836, up by 50.257 or 4.21% [2] - Gold (COMEX) is priced at 3365.400, up by 32.400 or 0.97% [2] - Silver (COMEX) is priced at 38.415, up by 0.790 or 2.10% [2] Group 2: Foreign Exchange - Euro to USD (EURUSD) is at 1.170, increasing by 0.04% [3] - GBP to USD (GBPUSD) is at 1.351, decreasing by 0.48% [3] - USD to JPY (USDJPY) is at 147.015, increasing by 0.53% [3] - AUD to USD (AUDUSD) is at 0.658, decreasing by 0.07% [3] - USD to CHF (USDCHF) is at 0.796, decreasing by 0.13% [3] Group 3: Cryptocurrencies - Bitcoin is priced at 117453.350, up by 1443.350 or 1.24% [4] - Litecoin is priced at 96.000, up by 1.150 or 1.21% [4] - Ethereum is priced at 2985.910, up by 34.610 or 1.17% [4] - Ripple is priced at 2.727, up by 0.180 or 7.08% [4] Group 4: Treasury Bonds - The yield on the 2-year U.S. Treasury bond is 3.895, up by 0.027 or 0.70% [6] - The yield on the 5-year U.S. Treasury bond is 3.971, up by 0.040 or 1.02% [7] - The yield on the 10-year U.S. Treasury bond is 4.398, up by 0.041 or 0.94% [7] - The yield on the 30-year U.S. Treasury bond is 4.920, up by 0.058 or 1.19% [7] - The yield on the 10-year UK Treasury bond is 4.628, up by 0.027 or 0.59% [7] - The yield on the 10-year German Treasury bond is 2.683, up by 0.021 or 0.79% [7] - The yield on the 10-year French Treasury bond is 3.411, up by 0.020 or 0.59% [7] - The yield on the 10-year Italian Treasury bond is 3.605, up by 0.024 or 0.67% [7] - The yield on the 10-year Japanese Treasury bond is 1.529, up by 0.038 or 2.55% [7]
金十图示:2025年07月10日(周四)亚盘市场行情
news flash· 2025-07-10 02:01
Commodity Prices - Spot platinum (XPTUSD) is priced at 1373.405, showing an increase of 2.401 or 0.18% [2] - Spot palladium (XPDUSD) is priced at 1135.375, reflecting a decrease of 1.721 or 0.15% [2] - Gold (COMEX) is trading at 3331.500, up by 9.000 or 0.27% [2] - Silver (COMEX) is priced at 36.675, with an increase of 0.070 or 0.19% [2] Foreign Exchange Rates - Euro to USD (EURUSD) is at 1.174, increasing by 0.18% [3] - GBP to USD (GBPUSD) is at 1.361, up by 0.17% [3] - USD to JPY (USDJPY) is at 145.827, decreasing by 0.33% [3] - AUD to USD (AUDUSD) is at 0.654, increasing by 0.14% [3] - USD to CHF (USDCHF) is at 0.793, down by 0.17% [3] Cryptocurrency Prices - Bitcoin (BTC) is priced at 111299.990, with an increase of 65.990 or 0.06% [4] - Litecoin (LTC) is at 90.840, up by 0.230 or 0.25% [4] - Ethereum (ETH) is priced at 2776.220, increasing by 7.470 or 0.27% [4] - Ripple (XRP) is at 2.428, with an increase of 0.024 or 1.00% [4] Treasury Bond Yields - The yield on the 2-year US Treasury bond is at 3.839 [5] - The yield on the 5-year US Treasury bond is at 3.903, down by 0.017 or 0.43% [5] - The yield on the 10-year US Treasury bond is at 4.324, decreasing by 0.016 or 0.37% [5] - The yield on the 30-year US Treasury bond is at 4.859, down by 0.016 or 0.33% [5] - The yield on the 10-year UK Treasury bond is at 4.601, decreasing by 0.009 or 0.20% [5] - The yield on the 10-year German Treasury bond is at 2.631, down by 0.011 or 0.40% [5] - The yield on the 10-year French Treasury bond is at 3.357, decreasing by 0.005 or 0.15% [5] - The yield on the 10-year Italian Treasury bond is at 3.548, down by 0.013 or 0.37% [5] - The yield on the 10-year Japanese Treasury bond is at 1.491, decreasing by 0.014 or 0.93% [5]
德债两连跌后小幅反弹,英债走势分化
news flash· 2025-07-09 17:22
Group 1 - German government bonds saw a slight increase after two consecutive days of decline, with the 10-year yield dropping 3 basis points to 2.66%, retreating from a three-month high of 2.71% reached on Tuesday [1] - The 2-year yield in Germany fell by 1 basis point to 1.86% [1] - UK government bonds exhibited mixed performance, with short-term bond prices declining while long-term bonds rose slightly, leading to a flattening of the yield curve [1] Group 2 - The 10-year UK government bond yield decreased by 3 basis points to 4.60%, ending a three-day decline for long-term bonds [1] - The 10-year Italian government bond yield fell by 2 basis points to 3.52% [1] - The yield spread between Italian and German bonds remained stable at 85 basis points [1] Group 3 - The 10-year French government bond yield decreased by 1 basis point to 3.35% [2]
金十图示:2025年07月08日(周二)美盘市场行情一览
news flash· 2025-07-08 13:48
Group 1: Precious Metals - Spot platinum (XPTUSD) is priced at 1360.407, down by 9.091 or 0.66% [2] - Spot palladium (XPDUSD) is priced at 1117.850, up by 3.788 or 0.34% [2] - Gold (COMEX) is priced at 3330.900, down by 15.500 or 0.46% [2] - Silver (COMEX) is priced at 36.765, down by 0.175 or 0.47% [2] Group 2: Foreign Exchange - Euro to USD (EURUSD) is at 1.170, down by 0.03% [3] - GBP to USD (GBPUSD) is at 1.355, down by 0.34% [3] - USD to JPY (USDJPY) is at 146.854, up by 0.54% [3] - AUD to USD (AUDUSD) is at 0.652, up by 0.49% [3] - USD to CHF (USDCHF) is at 0.799, up by 0.06% [3] Group 3: Cryptocurrencies - Bitcoin is priced at 109033.000, up by 770.060 or 0.71% [4] - Litecoin is priced at 86.650, up by 0.600 or 0.70% [4] - Ethereum is priced at 2580.650, up by 38.360 or 1.51% [4] - Ripple is priced at 2.294, up by 0.023 or 1.00% [4] Group 4: Treasury Bonds - The yield on the 2-year US Treasury bond is 3.911, up by 0.008 or 0.20% [6] - The yield on the 5-year US Treasury bond is 3.994, up by 0.028 or 0.71% [7] - The yield on the 10-year US Treasury bond is 4.427, up by 0.032 or 0.73% [7] - The yield on the 30-year US Treasury bond is 4.972, up by 0.042 or 0.85% [7] - The yield on the 10-year UK Treasury bond is 4.646, up by 0.055 or 1.20% [7] - The yield on the 10-year German Treasury bond is 2.652, up by 0.045 or 1.73% [7] - The yield on the 10-year French Treasury bond is 3.365, up by 0.040 or 1.20% [7] - The yield on the 10-year Italian Treasury bond is 3.562, up by 0.041 or 1.16% [7] - The yield on the 10-year Japanese Treasury bond is 1.495, up by 0.030 or 2.05% [7]
英债收益率开盘小幅下跌,英债表现不及法国和德国国债。
news flash· 2025-07-04 07:17
Core Viewpoint - UK bond yields opened slightly lower, indicating underperformance compared to French and German bonds [1] Group 1 - UK bonds are showing a decline in yield, suggesting a potential shift in investor sentiment [1] - The performance of UK bonds is lagging behind that of French and German government bonds, highlighting a relative weakness in the UK bond market [1]