美国3个月期国债 (US3M) 加自选

美国财政部长斯科特·贝森特表示，美国和中国官员将于下周在斯德哥尔摩举行会议，就延长目前定于8月12日的贸易协议最后期限进行谈判。他补充说，会谈还将解决贸易关系再平衡问题。瑞典首相Ulf Kristersson对会谈表示欢迎，称其对全球经济具有重要意义。另外，中国大使馆发言人证实，双方已经敲定了特朗普总统和Xi达成共识的实施细节。北京已同意解除对稀土和磁铁的出口禁令，而华盛顿将恢复芯片软件、飞机发动机和其他关键商品的运输。如果不延期，美国出口商品的关税可能会升至145%，中国商品的关税将升至125%。贝森特还表示，将讨论更广泛的问题，如中国的出口依赖。与此同时，中国暂停了对杜邦本土子公司的反垄断调查，这被视为一种善意的姿态。

U.S. and Chinese officials are set to meet in Stockholm next week to negotiate a possible extension of the trade deal deadline, currently set for August 12, according to U.S. Treasury Secretary Scott Bessent. He added that the talks will also address rebalancing trade relations. Swedish Prime Minister Ulf Kristersson welcomed the talks, calling them significant for the global economy. Separately, a Chinese embassy spokesperson confirmed both sides had finalized implementation details of a consensus reached by Presidents Trump and Xi Jinping. Beijing has agreed to lift its export ban on rare earths and magnets, while Washington will resume shipments of chip software, aircraft engines, and other key goods. Without an extension, tariffs could rise to 145% on U.S. exports and 125% on Chinese goods. Bessent also said broader issues, such as China’s export dependence, would be discussed. Meanwhile, China suspended its antitrust probe into DuPont's local unit, seen as a goodwill gesture.

周三，美国10年期国债收益率稳定在4.36%左右，在投资者消化最新贸易动态的同时，暂停了五天的下跌。唐纳德·特朗普总统宣布了一项与日本的新贸易协定，其中包括对日本对美国的出口征收15%的关税。他还表示，日本将向美国投资5500亿美元，并向美国主要商品开放市场。与此同时，财政部长Scott Bessent表示，与中国的关税休战可能会在8月12日到期之前延长。最近几天，由于大多数国家与华盛顿达成贸易协议的8月1日最后期限存在不确定性，国债收益率面临压力，加剧了人们对全球关税可能升级的担忧。在政策方面，美联储将于下周举行会议，市场普遍预计联邦基金利率不会改变，因为官员们正在权衡贸易紧张局势的通胀影响。

The yield on the US 10-year Treasury note held steady around 4.36% on Wednesday, pausing a five-day slide as investors digested the latest trade developments. President Donald Trump announced a new trade agreement with Japan that includes a 15% tariff on Japanese exports to the US. He also said Japan would invest $550 billion into the US and open its markets to key American goods. Meanwhile, Treasury Secretary Scott Bessent indicated that the tariff truce with China will likely be extended ahead of its August 12 expiration. Treasury yields had come under pressure in recent days amid uncertainty surrounding the August 1 deadline for most countries to strike trade deals with Washington, fueling concerns over a potential escalation in global tariffs. On the policy front, the Federal Reserve is set to meet next week, with markets broadly expecting no change to the federal funds rate as officials weigh the inflationary effects of trade tensions.

周三，美元指数稳定在97.5左右，暂停了三个交易日的下跌，因为投资者权衡了最新的贸易发展。美国总统唐纳德·特朗普宣布了一项与日本的贸易协议，其中包括对日本对美国的出口征收15%的关税。他还表示，日本将向美国投资5500亿美元，并向美国主要商品开放市场。财政部长斯科特·贝森特表示，目前与中国的关税休战可能会在8月12日到期之前延长，这增加了谨慎的乐观情绪。最近几天，美元面临压力，因为大多数国家在8月1日与华盛顿敲定贸易协议的最后期限周围的不确定性越来越大，这引发了人们对全球关税可能升级的担忧。在货币政策方面，联邦公开市场委员会最近一次会议的纪要显示，一些成员认为关税会引发通货膨胀，促使美联储暂时推迟进一步降息。

The dollar index stabilized around 97.5 on Wednesday, pausing a three-session slide as investors weighed the latest trade developments. President Donald Trump announced a trade agreement with Japan that includes a 15% tariff on Japanese exports to the US. He also said Japan will invest $550 billion into the US and open its markets to key American goods. Adding to the cautious optimism, Treasury Secretary Scott Bessent signaled that the current tariff truce with China is likely to be extended ahead of its August 12 expiration. The dollar had come under pressure in recent days amid rising uncertainty surrounding the August 1 deadline for most countries to finalize trade deals with Washington, raising concerns about a potential escalation in global tariffs. On the monetary policy front, minutes from the latest FOMC meeting revealed that several members view tariffs as inflationary, prompting the Fed to hold off on further rate cuts for now.

周三，美国总统唐纳德·特朗普宣布与日本达成一项新的贸易协议，其中包括对日本对美国的出口征收15%的关税后，美国股指期货上涨。市场焦点也转向了大型科技巨头特斯拉和Alphabet将于今天晚些时候发布的关键盈利报告。其他知名公司包括孩之宝、Chipotle和美泰。在数据方面，投资者正在等待现有的房屋销售数据，以获得有关住房市场的进一步线索。在周二的常规交易中，道琼斯指数上涨0.4%，标准普尔500指数微涨0.06%，而纳斯达克综合指数下跌0.39%，受芯片制造商拖累。Nvidia和Broadcom分别下跌2.4%和3.3%，此前有报道称软银和OpenAI的大规模人工智能项目陷入停滞。收益令人失望也影响了市场情绪，洛克希德·马丁公司股价暴跌10.8%，菲利普·莫里斯公司股价下跌8.2%，此前业绩低于预期。通用汽车公司股价下跌8%，此前该公司警告称，关税将对利润造成更大打击。

US stock futures ticked higher on Wednesday after President Donald Trump announced a new trade agreement with Japan that includes a 15% tariff on Japanese exports to the US. Market focus also turned to key earnings reports due later today from megacap tech giants Tesla and Alphabet. Other notable names reporting include Hasbro, Chipotle, and Mattel. On the data front, investors are awaiting existing home sales figures for further clues on the housing market. In Tuesday’s regular session, the Dow gained 0.4% and the S&P 500 edged up 0.06%, while the Nasdaq Composite slipped 0.39%, dragged lower by chipmakers. Nvidia fell 2.4% and Broadcom dropped 3.3% after reports surfaced that SoftBank and OpenAI's large-scale AI venture had stalled. Earnings disappointments also weighed on sentiment, with Lockheed Martin plunging 10.8% and Philip Morris down 8.2% after weaker-than-expected results. General Motors fell 8% after warning of deeper profit hits tied to tariffs.