美股与美债，谁会先调整？

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美股与美债，谁会先调整？

张明宏观金融研究2021-07-27

当前美债与美股双双上涨的格局是难以维系的。 10年期美国国债收益率在最近1个月显著下跌，由6月23日的1.50%下跌至7月23日的1.30%（图1）。考虑到2021年6月美国核心CPI同比增速飙升至4.5%，达到了自1991年12月以来的新高，当前美国长债利率如此低迷，的确令人惊讶（图2）。1991年11月，美国核心CPI同比增速也为4.5%，但10年期国债收益率高达7.4%。根据美联储估计，...

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Yeenyeen
·2021-07-27
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