黄金大涨,美元美债双双重挫……国际贸易新秩序正在酝酿,资产逻辑也正悄然转向。 过去几十年,我们习惯于用“美元实际利率”来锚定黄金,用“通胀与增长预期”来判断美债。 但当市场不确定性增加,全球资金体系发生结构性变化,旧有范式正在失效。 黄金为何屹立不倒? 美债收益率为何暴涨? “去美元化”趋势下,“锚”还稳得住吗? 美国还撑得起全球信用体系吗? 当地缘政治风险陡然增加,全球资金如何流动? 这一轮动荡...
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