受最新通胀数据和强劲经济增长数据影响，美国10年期国债收益率周四徘徊在5%下方。
The 10-year U.S. Treasury yield hovered below 5% Thursday following the latest inflation data and a strong reading on economic growth.
作为从抵押贷款到信用卡等借贷成本基准的10年期国债收益率下跌逾7个基点，报4.97%。
The yield on the 10-year Treasury — used as a benchmark for borrowing costs ranging from mortgages to credit cards — was more than 7 basis points lower at 4.97%.
更贴近美联储短期政策的2年期国债收益率下跌1个基点，报4.635%；30年期国债收益率下跌逾4个基点，报5.312%。
The 2-year Treasury yield, which more closely tracks short-term Federal Reserve policy, lost 1 basis point to trade at 4.635%, while the yield on the 30-year Treasury was down by more than 4 basis points at 5.312%.
1个基点等于0.01%，即1%的百分之一；收益率与价格呈反向变动。
One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely to one another.
第三季度国内生产总值（GDP）按年率计算增长3.4%，好于经济学家预期的3.1%，与此同时9月通胀加速。美联储决策者密切关注的个人消费支出（PCE）价格指数经季节性调整后环比8月增长0.5%，符合道琼斯共识预期。同比上涨3.6%，略低于预期的3.7%，但仍高于8月读数，并高于美联储2%的目标。
Third-quarter gross domestic product increased at an annual rate of 3.4%, better than the 3.1% expected by economists, while inflation accelerated in September. The personal consumption expenditures price index — closely watched by Federal Reserve policymakers — increased a seasonally adjusted 0.5% compared with August, in line with the Dow Jones consensus estimate. It rose 3.6% year-over-year, slightly less than the 3.7% expected but still higher than August's reading and above the Fed's 2% target.
这些数据公布于美联储10月会议次日，该会议决定将基准利率维持在3.75%至4%区间。但会后声明承认通胀依然居高不下。
The data comes one day after the Federal Reserve's October meeting that saw the central bank hold its key interest rate in a range between 3.75% and 4%. But the post-meeting statement acknowledged that inflation remains elevated.
“沃什一直在努力阐明，联邦公开市场委员会（FOMC）不会对单个数据点做出反应，而是对委员会如何看待潜在趋势做出反应，而昨天新闻发布会的核心结论是，沃什认为经济强劲、通胀高于目标，且金融环境目前并不具有限制性，”21shares宏观主管斯蒂芬·科尔特曼表示。“今天的数据不会改变这一整体评估，投资者应预期联邦基金利率将因此继续上升。”
"Warsh has been at pains to make clear that the FOMC will not react to individual data points but instead to how the committee see the underlying trends, and the bottom-line from yesterday's press conference is that Warsh sees the economy as strong, inflation above target, and financial conditions as not currently restrictive," said Stephen Coltman, head of macro at 21shares. "Today's data will not change that overall assessment and investors should expect the Fed Funds rate to continue to rise as a result."
美联储主席凯文·沃什在周三最新会议后对记者明确表示，决策者并未走上既定路径，他说：“如果我们对货币政策的实施有了明确结论，今天就会大张旗鼓地宣布。”根据芝商所（CME）的“美联储观察”工具，市场目前预计美联储在12月加息25个基点的概率为83%。
Speaking to reporters on Wednesday after the latest meeting, Fed Chair Kevin Warsh made it clear that policymakers were not on a set path, saying, "If we had a firm conclusion about the conduct of monetary policy, we'd announce it to much fanfare today." Markets are currently pricing in an 83% chance of a quarter-point hike from the Fed in December, according to the CME's FedWatch tool.
Thornburg Investment Management投资组合经理阿里·哈桑在周三的一份报告中表示，市场似乎将美联储的最新表态解读为“政策路径转软，而非通胀惊吓”。
Ali Hassan, a portfolio manager at Thornburg Investment Management, said in a note on Wednesday that markets appeared to see the Fed updates as "a softer policy path, not an inflation scare."
哈桑说：“市场进一步削减了对后续加息的预期：仍预期12月会有行动，但对后续跟进不那么确信了。考验将在周五到来，届时禁声期解除（美联储决策者可发表进一步评论）。如果美联储讲话者重新把更多加息摆上桌面，他们可能会收回短端利率的宽松预期，并钝化这种自我挫败的动态。”
"The market trimmed hikes further out: it still expects a December move but is less convinced of the follow-through," Hassan said. "The test comes on Friday, when the blackout lifts [on Fed policymakers' additional commentary]. If Fed speakers put more hikes back on the table, they could claw back the front-end easing and blunt the self-defeating dynamic."