數據顯示過去幾年，外國投資者持續減持美債和機構債，與此同時美國股票和公司債流入的資金大幅增加。 股票的12個月滾動淨買入已經接近9000億美元，處於歷史極高水平；公司債淨買入也明顯回升。相反，美國國債淨買入從2022—2023年的高位快速下降，機構債則接近零附近。 這種變化暗示海外資金不看好美國政府債務的風險收益比，但仍看好美國優秀企業的發展前景，股票和公司債提供的就是“美國企業信用”。

The US Treasury said it will increase the size of long-term Treasury buybacks to help stabilize the bond market. Freddie Mac reported the average 30-year fixed mortgage rate fell to 6.65% from 6.67% a week earlier; a year ago it was 6.58%. Borrowing costs remain a concern for prospective buyers as elevated inflation risk tied to the ongoing Iran conflict persists. A Realtor.com senior economist said moves at the long end of the yield curve highlight market concern about inflation and the fiscal outlook, which could push mortgage rates higher in coming weeks.

美國長債回購翻倍，金價瘋狂搶跑恐只是表面，而真正的主線已在過去三週依次擺進市場！這個細節纔是讀懂這輪動作信號的關鍵入口，點擊查看詳細拆解>>