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转自:财联社

财联社4月22日讯(编辑刘蕊)摩根士丹利泛市场固收主管维沙尔·坎杜贾(VishalKhanduja)表示,随着美国长期国债周一持续下跌,美国例外论正面临某些威胁。

在这一背景下,原本从美元流失的资金将流向欧洲和日本,而不少避险资金选择流向了黄金。

美债收益率曲线愈发陡峭

坎杜贾表示,美国债券市场对美国关税的反应主要有两种方式:与通胀上升相比,零至五年期美债收益率曲线更能反映出“经济增长的下行风险”,相比之下,7-30年期美债收益率曲线部分更反映出市场“对美国持续的赤字问题的担忧”,以及美国财政部内部的需求的担忧。

展望未来,坎杜贾表示,在过去五到七年里,美元一直存在“过度配置”的情况,但他“不会断言美元时代已经结束”。他补充说,美国需要提出明确和可持续的赤字削减计划。

坎杜贾发表这一言论之后,本周二,国际金价继续创下历史新高,截至发稿现货黄金已经将历史高位刷新至3470美元/盎司。

坎杜贾表示,“原本预期流入美国市场的美元现在流入黄金…我认为,至少从我们密切跟踪的市场来看,如果你这样看的话,这(黄金)似乎是目前在全球资产配置框架中赢得避险赌注的大类市场。”

(财联社刘蕊)

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