德国30年期国债 (Germany30Y) 加自选

德国10年期国债收益率小幅下跌至2.5%，接近5月7日以来的最低水平，因为投资者在中东紧张局势升级和贸易战担忧加剧之际寻求安全资产。美国总统唐纳德·特朗普表示，美国人员正在从该地区撤离，并警告称“这可能是一个危险的地方”。与此同时，他宣布计划在未来几周内致函主要贸易伙伴，概述新的单边关税税率。与此同时，在美国，低于预期的通胀数据和劳动力市场逐渐降温的迹象提振了人们对美联储最早可能在9月开始降息的预期。在欧洲，欧洲央行官员的言论加剧了人们的猜测，即央行可能很快就会暂停其宽松周期，采取观望态度来评估美国潜在关税的经济影响。

The yield on the German 10-year Bund edged down toward 2.5%, approaching its lowest level since May 7, as investors sought safe-haven assets amid escalating tensions in the Middle East and renewed trade war concerns. US President Donald Trump said American personnel were being relocated from the region, warning it "could be a dangerous place." At the same time, he announced plans to send letters to key trading partners in the coming weeks outlining new unilateral tariff rates. Meanwhile, in the US, softer-than-expected inflation data and signs of a gradually cooling labor market bolstered expectations that the Federal Reserve could begin cutting interest rates as early as September. In Europe, remarks from ECB officials have strengthened speculation that the central bank may soon pause its easing cycle, adopting a wait-and-see stance to assess the economic impact of potential US tariffs.

法兰克福DAX指数周四下跌逾1%，至23700点以下，标志着连续第五个交易日下跌，表现落后于地区同行。特朗普总统的新贸易言论和与北京脆弱的贸易休战掩盖了美国温和通胀报告带来的乐观情绪。美国总统唐纳德·特朗普周三表示，他愿意延长贸易谈判的最后期限，但认为这可能没有必要，因为美国计划在两周内向主要贸易伙伴发出要约函，概述单方面关税。与此同时，中东地缘政治紧张局势加剧，影响了全球市场的市场情绪。在企业方面，几乎所有行业都下跌，房地产、制药、汽车、金融、银行和零售商跌幅最大。

Frankfurt's DAX fell more than 1% to below 23,700 on Thursday, marking the fifth straight sessions of decreases and underperforming its regional peers. Fresh trade remarks from President Trump and a fragile trade truce with Beijing overshadowed the optimism brought by a benign US inflation report. President Donald Trump said Wednesday he was willing to extend the trade talks deadline but believed it likely wouldn’t be necessary, as the US plans to send offer letters to major trading partners within two weeks outlining unilateral tariffs. At the same time, heightened geopolitical tensions in the Middle East weighed on market sentiment across global markets. On the corporate front, nearly all sectors traded lower, with real estate, pharmaceuticals, autos, financials, banks, and retailers among the top decliners.

法兰克福DAX指数下跌227点。Vonovia（-1.98%）、Adidas（-1.72%）和MTU航空发动机公司（-1.92%）领跌。涨幅最大的是大陆集团（0.53%）、E.ON（0.52%）和科思创（0.40%）。

In Frankfurt, the DAX Index is falling 227 points. Losses were driven by Vonovia (-1.98%), Adidas (-1.72%) and MTU Aero Engines AG (-1.72%). Biggest rises came from Continental (0.53%), E.ON (0.52%) and Covestro (0.40%).

法兰克福DAX指数周三逆转走势，收于23976点，跌幅约0.2%，与大多数地区同行一致，因为交易员权衡了全球贸易的对比发展。美国总统唐纳德·特朗普表示，在伦敦举行为期两天的高级别会谈后，与中国“达成”了一项协议，并补充说，在习近平主席主席和他本人最终批准后，美国将确保获得稀土金属，而中国学生将被允许进入美国大学。另一方面，欧盟表示，与华盛顿的贸易谈判可能会持续到7月9日的最后期限之后。在主要推动因素中，表现最差的是德国电信（-1.7%）、Brenntag（-1.7%”）、英飞凌科技（-1.5%）、阿迪达斯（-1.5%”）和汉高公司（-1.3%”）。另一方面，拜耳的表现优于其他公司，在汇丰银行和Kepler Cheuvreux将该股从“持有”上调至“买入”后上涨了约3.8%。西门子能源、莱茵金属、RWE和海德堡材料紧随其后。

Frankfurt's DAX reversed course to close about 0.2% down at 23,976 on Wednesday, in line with most of its regional peers, as traders weighed contrasting developments on global trade. US President Donald Trump said a deal with China "is done" following two days of high-level talks in London, adding that—pending final approval from President Xi Jinping and himself—the US will secure access to rare earth metals, while Chinese students will be allowed to take up places at American universities. On the other hand, the EU signaled its trade talks with Washington could stretch beyond the July 9 deadline. Among key movers, the worst performers were Deutsche Telekom (-1.7%), Brenntag (-1.7%), Infineon Technologies (-1.5%), Adidas (-1.5%) and Henkel AG & Co (-1.3%). On the flip side, Bayer outperformed, gaining around 3.8% after HSBC and Kepler Cheuvreux upgraded the stock to 'Buy' from 'Hold'. Siemens Energy, Rheinmetall, RWE and Heidelberg Materials followed closely.