周五美国公布了10月非农数据,1.2万人的新增就业令市场大跌眼镜。不过美元和美债收益率短暂下跌之后,很快全部反弹回来,10年期美债收益率飙升至4.38%,日内上行10bp。 自9月18日美联储降息以来,10年期美债收益率已累计上涨 70 bp,这是历次降息周期以来都未出现的。 究竟发生了什么?我觉得有两点原因可以解释: 第一,非农其实并没有这么糟糕。 这次市场对于非农差已经早有预期,因为两次飓风...
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