周四，美国国债全曲线走高，推动长端收益率降至一个月低点，因市场对人工智能交易持久性的疑虑重燃，投资者转向避险资产。
Treasuries climbed across the curve Thursday, pushing long-end yields to the lowest in a month, as renewed doubts about the durability of the artificial intelligence trade drove investors toward havens.
美国国债收益率至少下跌三个基点，亚洲股市走低，此前大型企业财报未能缓解市场对人工智能估值过高的担忧。30年期国债收益率下跌三个基点至5.38%，为9月23日以来的最低水平。
US government bond yields fell at least three basis points as Asian equities retreated after earnings from megacap companies failed to ease jitters about stretched AI valuations. The 30-year yield dropped three basis points to 5.38%, its lowest since Sept. 23.
“近几日市场情绪似乎更加不稳，投资者正在重新评估人工智能相关资产，”星展银行高级利率策略师廖裕铭表示。“对盈利能力和投资回报的谨慎情绪似乎正逐渐渗透。鉴于美国收益率按近期标准仍处高位，投资者可能希望通过在美债中寻求避险来对冲部分这些风险。”对人工智能交易可持续性的担忧，为美国国债带来一定喘息，此前几周因市场担心财政赤字扩大和油价高企，收益率曾触及多年高点。彭博美国国债回报指数在9月录得近两年来最大月度跌幅后，10月已上涨约1.2%。
“Sentiment seems to be shakier these days as investors reconsider AI-related assets,” said Eugene Leow, senior rates strategist at DBS Bank Ltd. “A bit more caution on profitability, return on investments appear to be creeping in. With US yields still elevated by recent standards, investors may want to hedge off some of these risks by seeking safety in Treasuries.”Concerns about the sustainability of the AI trade are offering some relief to US government bonds after yields hit multi-year highs in recent weeks on fears about widening fiscal deficits and elevated oil prices. A Bloomberg gauge of returns on Treasuries has climbed about 1.2% in October after rounding off its biggest monthly drop in almost two years in September.
