布伦特原油 (Brent) 加自选

周四，英国10年期国债收益率几乎没有变化，为4.72%，为4月11日以来的最高水平，因为强于预期的GDP数据缓和了对近期降息的预期。英国经济在第一季度增长了0.7%，为一年来最快增速，促使交易员减少了对英格兰银行激进宽松政策的押注。然而，一些经济学家敦促谨慎行事，他们指出，第一季度增长的很大一部分来自2月份工厂产量的激增，这可能是由于在特朗普总统预期的关税之前提前向美国出口的努力。与此同时，本周早些时候的劳动力市场数据显示，失业率上升至4.5%，工资增长放缓，这表明家庭支出可能面临压力。

The UK 10-year gilt yield was little changed at 4.72% on Thursday, its highest level since April 11, as stronger-than-expected GDP data tempered expectations for near-term rate cuts. The UK economy expanded by 0.7% in Q1, its fastest pace in a year, prompting traders to scale back bets on aggressive Bank of England easing. However, some economists urged caution, noting that a significant portion of the Q1 boost came from February’s surge in factory output, likely driven by efforts to front-load exports to the US ahead of anticipated tariffs from President Trump. Meanwhile, labor market data earlier in the week showed the unemployment rate rose to 4.5% and wage growth slowed, signaling potential pressure on household spending.

富时100指数周四下跌0.5%，延续了第三个交易日的跌幅。花旗分析师指出，3i的主要控股公司折扣零售商Action的表现疲软，导致3i股价下跌超过7%，投资者情绪恶化。Sage Group也拖累该指数，因收入增长低于预期，下跌近4%。能源巨头英国石油公司和壳牌石油公司股价下跌约2.5%至3%，油价下跌超过3%，原因是对全球原油市场供应过剩的担忧日益加剧。尽管英国GDP数据意外上涨，显示季度增长0.7%，但对股市几乎没有支撑作用。更强劲的读数减轻了英格兰银行大幅降息的压力，导致市场略微降低了对货币宽松的预期。因此，尽管这些数据表明经济具有弹性，但也降低了股市立即获得利率支持的可能性。

The FTSE 100 traded 0.5% lower on Thursday, extending losses for the third session. Investor sentiment soured after 3i dropped over 7% following signs of weaker performance from its key holding, discount retailer Action, flagged by Citi analysts. Sage Group also weighed on the index, falling nearly 4% as its revenue growth came in below expectations. Energy giants BP and Shell declined around 2.5–3% amid a more than 3% slide in oil prices, driven by growing concerns of oversupply in global crude markets. While UK GDP data surprised to the upside, showing 0.7% quarterly growth, it offered little support to equities. The stronger reading reduced pressure on the Bank of England to cut rates aggressively, causing markets to slightly pare back expectations for monetary easing. So while the data signals economic resilience, it also lessens the chance of immediate rate support for stocks.

英镑上涨，英国GDP数据超过预期。周四，在英国公布国内生产总值（GDP）数据后，英镑（GBP）在欧洲交易时间吸引了对其同行的出价。国家统计局（ONS）报告称，1月至3月期间，经济以0.7%的强劲速度增长，而估计为0.6%。

Pound Sterling gains as UK GDP data beats estimates.The Pound Sterling (GBP) attracts bids against its peers in European trading hours on Thursday following the release of the United Kingdom (UK) Gross Domestic Product (GDP) data. The Office for National Statistics (ONS) reported that the economy grew at a robust pace of 0.7% in the January-March period, compared to the estimates of 0.6%.

英镑升至1.329美元，此前强于预期的GDP数据表明英国经济具有弹性，大幅降息的压力有所减轻。本季度增长率高于预期，为0.7%，同比增长1.3%，促使交易员降低了对英格兰银行今年可能降息幅度的预期。尽管降息仍在预期之中，但稳健的GDP数据表明，经济还不足以证明进一步宽松的合理性。除了国内数据，英镑还受到美元走软的提振，因为人们猜测美国可能会在贸易谈判中推动货币走弱。更广泛的美元疲软提振了包括英镑在内的大多数主要货币。然而，并非所有英国指标都乐观——失业率上升，工资增长放缓，表明势头不平衡。尽管如此，就目前而言，GDP的积极意外为英镑提供了支持，并减少了对经济停滞的直接担忧。

The British pound rose to $1.329, after stronger-than-expected GDP data signaled resilience in the UK economy and reduced pressure for aggressive rate cuts. Growth came in above forecasts at 0.7% for the quarter and 1.3% year-on-year, prompting traders to scale back expectations for how much the Bank of England might lower interest rates this year. While a rate cut is still expected, the solid GDP print suggests the economy is not weak enough to justify deeper easing just yet. Beyond domestic data, the pound also got a boost from a softer US dollar, as speculation builds that the US may push for a weaker currency in trade negotiations. That broader dollar weakness lifted most major currencies, including sterling. However, not all UK indicators were upbeat—unemployment ticked higher and wage growth slowed, pointing to uneven momentum. Still, for now, the positive surprise in GDP has given sterling support and reduced immediate concerns about economic stagnation.