美国国债收益率周五小幅走高，此前在美联储官员鹰派言论和强于预期的经济数据推动下，抛售压力加剧。
U.S. Treasury yields inched higher on Friday as recent selling pressure intensified following hawkish Fed commentary and stronger-than-expected economic data.
基准10年期美国国债收益率上涨不足一个基点，报5.17%，周四曾触及2007年6月以来最高水平。该债券收益率持平于5.463%，此前曾飙升至2004年以来未见水平。2年期国债收益率也基本持平，报4.899%。一个基点等于0.01%，收益率与价格呈反向变动。
The benchmark 10-year Treasury note was up less than one basis point to 5.17%, after reaching its highest rate since June 2007 on Thursday. The bond was flat at 5.463%, after surging to levels not seen since 2004. The 2-year note yield was also little changed at 4.899%.
投资者权衡了本周的全球债券抛售潮，日本国债、英国长期国债、德国国债及其他欧元区债券收益率均刷新高位。周五，欧元区和日本国债收益率小幅回落。
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
美联储理事巴尔周三在演讲中表示，预计将有“进一步的政策调整”以将通胀降回目标水平，其鹰派言论推高了国债收益率。其他因素包括顽固的高油价和采购经理指数报告升至四年多来最高水平。
Investors weighed a global bond selloff this week as Japanese government bonds, U.K. gilts, German bunds and other eurozone bonds hit fresh highs. Eurozone and Japanese government bond yields edged lower on Friday.
根据CME“美联储观察”工具，交易员目前预计10月加息的概率接近71%。周五，投资者将关注密歇根大学消费者信心指数报告和耐用品订单数据。
Treasury yields have been driven higher by hawkish comments from Federal Reserve Governor Michael Barr, who said in a speech on Wednesday that "further policy adjustments" can be expected to bring inflation down to target. Other factors included stubbornly high oil prices and the purchasing managers' index report hitting its highest level in more than four years.
“展望未来，我们认为目前已有足够的加息担忧被计入价格，足以应对感知到的通胀风险，”荷兰国际集团美洲区研究主管Padhraic Garvey和高级利率策略师Benjamin Schroeder周五在报告中写道。
Traders were last pricing in a nearly 71% chance of a rate hike in October, according to the CME FedWatch tool On Friday, investors will watch the University of Michigan consumer sentiment report and durable goods data.
但从纯债务动力学理论来看，政府债券收益率有望继续承压，这转化为掉期利差面临一定程度再度走阔的压力，尤其是在10年期领域。
"Ahead, we think that there are enough rate hike fears discounted at this juncture, and certainly enough to take care of perceived inflation risks," ING's regional head of research for the Americas Padhraic Garvey and senior rates strategist Benjamin Schroeder wrote in a note on Friday.
迄今为止，财政部长贝森特的回购计划实际上已取得成功，因为其后掉期利差随之收窄。
"But, government bond yields are primed to remain under pressure on a pure debt dynamic theory, which translates into pressure for some re-widening in swap spreads, and especially in the 10yr area."
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