[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio527c08a6":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":80},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcio527c08a6","债券市场现在最可怕的信号，不是收益率又涨了，而是美国财政部出手之后，收益率还是压不住？","\u002Fdoc\u002Fdcio527c08a6","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\n\u003C\u002Fp>\u003Cp>\u003Cspan>\u003Cspan>美股投资网获悉，美国财政部把长期美债回购规模提高到\u003C\u002Fspan> 60 \u003Cspan>亿美元，相当于此前规模的三倍。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>正常情况下，官方加大回购长期债，市场至少应该看到一点缓和。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>但结果恰恰相反：\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>10\u003Cspan>年期美债收益率不仅没有回落，反而继续上冲，升破\u003C\u002Fspan> 4.85%\u003Cspan>，创下\u003C\u002Fspan> 2023 \u003Cspan>年\u003C\u002Fspan> 11 \u003Cspan>月以来新高，较公告前又上行约\u003C\u002Fspan> 15 \u003Cspan>个基点。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>这说明债券市场正在给美国财政政策投不信任票。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>过去市场担心的是“财政部会不会托底长债”；\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>现在真正的问题变成了：就算财政部托了，市场还买不买账？\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>更麻烦的是，伊朗战争还在继续，地缘风险推高油价和通胀预期，长端收益率自冲突爆发以来已经接近上行\u003C\u002Fspan> 100 \u003Cspan>个基点。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>如果战争风险迟迟不降温，\u003C\u002Fspan>10\u003Cspan>年期美债下周冲击\u003C\u002Fspan> 5% \u003Cspan>并不是小概率事件。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>这对市场意味着什么？\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>房贷利率会更高，企业融资成本会更贵，消费者贷款压力会更大，估值敏感的科技股也会继续被长端利率压制。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>美国财政部想给债市降温，但债市现在像是在反问一句：\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>你回购得过来，还是发债发得更快？\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>$TLT $SPY #\u003Cspan>美股\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>━━━━━━━━━━━━━━━━━━━━━━\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>【原创声明】\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>本文由美股投资网（\u003C\u002Fspan>TradesMax.com\u003Cspan>）研究团队原创完成。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>原创机构：美股投资网\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>英文品牌：\u003C\u002Fspan>TradesMax\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>本文基于公开财报、\u003C\u002Fspan>SEC\u003Cspan>文件、市场数据、机构资金、期权交易及产业链信息进行独立分析\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>如需引用本文，请注明：\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>“美股投资网（\u003C\u002Fspan>TradesMax.com\u003Cspan>）原创研究”。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>━━━━━━━━━━━━━━━━━━━━━━\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FT\u002FTLT\u002FTLT.jpg","2026-09-10T05:59:03","2026.09.10","2026\u002F09\u002F10",57970,[22],"TLT","Article",0,"免费","success",{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":28,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},[22],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure class=\"image\">\u003Ca href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\" rel=\"noopener noreferrer\">\u003Cimg src=\"\u002Fimg\u002Fstockwewebfiles\u002Fweb-202408-stk\u002F1586109431mceclip0.jpg\">\u003C\u002Fa>\u003C\u002Ffigure>\u003Cdiv class=\"text-center\">\u003Ch2 class=\"card-title mx-auto\">\u003Cbr>\u003Ca rel=\"noopener noreferrer\" href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\">案例介绍：英伟达深度研究报告\u003C\u002Fa>\u003C\u002Fh2>\u003C\u002Fdiv>",[33,37],{"productId":34,"serviceName":35,"priceText":36},"prod_PPxdDdK87QaiLv","月付","$12.95美元",{"productId":38,"serviceName":39,"priceText":40},"prod_PPxeMs3bix1da5","年付","$149.00美元",[],{"links":43,"images":71,"summaryHtml":76,"aboutTitle":77,"aboutHtml":78,"copyrightHtml":79},[44,47,50,53,56,59,62,65,68],{"label":45,"url":46},"深度报告","\u002Fcol\u002FdepthReport",{"label":48,"url":49},"VIP会员","\u002Fvip",{"label":51,"url":52},"期权推荐","\u002FOption",{"label":54,"url":55},"低价暴涨股","\u002FPenny",{"label":57,"url":58},"AI智能体","\u002FAiAgent",{"label":60,"url":61},"常见问题","https:\u002F\u002Fstockwe.com\u002FFAQ",{"label":63,"url":64},"美股课程","\u002Fcol\u002Fvideos",{"label":66,"url":67},"免责声明","\u002Fdisclaimer",{"label":69,"url":70},"联系我们","\u002FContactUs",[72,73,74,75],"\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploaderzic2tuwsol2_2025_09_11_18_21_07.gif","\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploadercakzdvydksw_2025_09_03_09_00_56.png","\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploadergtjyagwvoyk_2025_09_14_08_32_05.png","\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploader3u0tt4jhlqh_2025_09_23_22_30_48.png","邮箱: buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 \u003Ca href=\"https:\u002F\u002Fstockwe.com\" rel=\"noopener\">StockWe.com\u003C\u002Fa> 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理海量股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，美股买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":81,"search":82,"searchPlaceholder":82,"hotContent":83,"draft":84,"noData":85,"searchNoData":86,"courseContent":87,"more":88,"buyNow":89,"subscribeNow":90,"encoding":91,"paidContent":92},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]