美国最古老银行（BNY.N）首席执行官告诉路透社，今年基准10年期美国国债收益率触及的水平并非前所未有，因为政府债券的惨烈抛售推动收益率升至数十年来的高点。
The levels the benchmark 10-year US Treasury yield has touched this year are not unprecedented, the CEO of the oldest US bank (BNY.N) told Reuters, as a bruising selloff in government debt lifted yields to multi-decade highs.
10年期美国国债收益率是全球借贷成本和资产价格的基准，在7月至9月期间录得自1994年以来的最大涨幅。
The 10-year US Treasury yield, a yardstick for global borrowing costs and asset prices, posted its sharpest rise since 1994 in the July-September period.
“我们看到10年期利率达到大约五又四分之一。历史上，10年期利率处于这一水平并没有什么特别不寻常的地方。我们可以说已经处于非常低的水平很长时间了，”BNY首席执行官罗宾·文斯周四对路透社表示。
"We got 10-year rates to like, call it five and a quarter. There's nothing particularly unusual in history about 10-year rates at that level. We've had arguably low levels for a very long time," BNY CEO Robin Vince told Reuters on Thursday.
“人们对此反应过度。当然，这一变化发生得很快，但在我看来，这更像是收益率曲线的正常化。”BNY适用于普通股东的利润在截至9月30日的三个月里增长20%，达到16.1亿美元，即每股2.34美元，这得益于利息收入增长和市场行情改善，提升了客户资产的价值。托管和管理资产较去年同期增长10%，达到63.4万亿美元。
"People get very caught up. It has happened quickly, for sure, but with what I would view as more of a normalization of the curve." BNY's profit applicable to common shareholders jumped 20% to $1.61 billion, or $2.34 per share, in the three months ended September 30, driven by interest income growth and stronger market levels that boosted the value of client assets. Assets under custody and administration rose 10% to $63.4 trillion in the reported quarter from a year earlier.
全球债券市场今年承受巨大压力，因为能源价格仍居高不下，而人工智能热潮正在支撑经济增长，这种组合加剧了人们对通胀和利率上升的担忧。
Global bond markets have come under intense pressure this year as energy prices remain elevated, while the AI boom is supporting economic growth, a combination that has heightened worries about inflation and rising interest rates.
“可以说，美国经济的强劲实际上是通胀和利率上行的主要驱动力之一，”文斯表示。
"You can make a good case that it is actually the strength of the US economy that's one of the primary drivers of inflation and the move higher in rates," Vince said.
为人工智能基础设施建设而发行的债务激增也推动了债券收益率的上升。
A surge in debt issuance to fund the artificial intelligence buildout has also contributed to the upswing in bond yields.
“世界上只是债务更多了。需要买家来接盘。供需关系将施加向上的压力，”文斯说。
"There's just more debt in the world. There need to be buyers for that. The supply and demand is going to put upward pressure," Vince said.
然而，本周人工智能股票的暴跌却在一定程度上缓解了受创的债券市场压力，因为在科技股抛售中，投资者涌向避险的政府债券，推动美国国债收益率在整个曲线上下降。
This week's rout in AI stocks has, however, eased some pressure on the beaten-down bond markets, with investors flocking to safe-haven government debt in the face of the tech selloff, pushing US yields down across the curve.
10年期美国国债收益率周四正朝着自2025年8月初以来最大的单日跌幅前进。
The 10-year Treasury yield was headed for the largest one-day decline since early August 2025 on Thursday.
被问及人工智能交易和基础设施建设时，文斯表示，如果基于目前已经建设的规模出现供过于求，他会感到惊讶。
Asked about the AI trade and the infrastructure buildout, Vince said he would be surprised if there were a glut based on what's been built out so far.
“我们是否需要这些数据中心所生产的产品？我们是否会出现供过于求？我认为答案是我们会需要它们，”文斯说。
"Will we need the product that those data centers are producing? Will we have a glut? I think the answer is we will need them," Vince said.
纽约梅隆银行已成长为全球最大的托管银行。该公司位于全球资本市场的中心，负责保管和管理客户数万亿美元的资产，同时处理交易并在金融机构之间转移证券和现金。
BNY has grown into the world's largest custodian. The company sits at the center of global capital markets, safeguarding and administering trillions of dollars in client assets, while processing trades and moving securities and cash between financial institutions.
在一份声明中，文斯表示，客户需求持续增长，纽约梅隆银行在各产品和地区的销售及管道状况依然非常良好。
In a statement, Vince said that client demand is continuing to grow and BNY's sales and pipelines remain very healthy across products and regions.
纽约梅隆银行首席财务官德莫特·麦克唐诺告诉路透社，平均存款预计将在第四季度随着客户活动的增加而回升。
Average deposits are expected to pick up in the fourth quarter along with client activity, Chief Financial Officer Dermot McDonogh told Reuters.
总部位于纽约的公司也正受益于利率上升，因为它正以更高的收益率再投资到期投资证券所产生的现金。
The New York-based firm is also benefiting from a rise in interest rates as it reinvests cash from maturing investment securities at higher yields.
净利息收入——即资产收益与负债成本之间的差额——约占纽约梅隆银行收入的25%，麦克唐诺表示。
Net interest income — the spread between earnings from assets and costs on liabilities — accounts for roughly 25% of BNY's revenue, McDonogh said.