法国10年期政府债券收益率周三反弹至3.3%，结束了两天的下跌。在宣布美日贸易协议后，经济复苏，该协议有助于缓解对全球关税上升的担忧，并重新燃起了美国和欧盟之间达成类似协议的希望。然而，投资者情绪仍然谨慎，据报道，欧盟特使正在准备应急计划，以防与特朗普总统的贸易谈判破裂，因为特朗普政府在8月1日截止日期前采取了更强硬的立场。现在，人们的注意力转向了周四欧洲央行的政策决定和欧元区最大经济体发布的PMI预览数据。人们普遍预计，欧洲央行在连续八次降息后将保持利率不变，因为政策制定者在持续的贸易不确定性、欧元的弹性和通胀的抑制下采取了观望态度。市场完全预计到年底将降息25个基点，最早在9月降息的可能性约为50%。

France’s 10-year government bond yield rebounded to 3.3% on Wednesday, snapping a two-day decline. The recovery followed the announcement of a US-Japan trade deal, which helped ease fears of rising global tariffs and revived hopes for a similar agreement between the US and the EU. However, investor sentiment remains cautious, with EU envoys reportedly preparing contingency plans in case trade talks with President Trump collapse, amid a more hardline stance from his administration ahead of the August 1 deadline. Attention now turns to Thursday’s ECB policy decision and the release of flash PMI data from the euro area’s largest economies. The ECB is widely expected to keep interest rates unchanged after eight consecutive cuts, as policymakers adopt a wait-and-see approach amid ongoing trade uncertainty, a resilient euro, and subdued inflation. Markets are fully pricing in a 25 basis point rate cut by year-end, with a roughly 50% chance of that move happening as early as September.

CAC 40指数周三上涨1.3%，至7841点，结束了连续两个交易日的下跌，因为人们对美国和欧盟之间潜在的贸易协议产生了新的希望。美国和日本之间新宣布的贸易协议的消息加剧了乐观情绪，该协议包括降低日本对美国汽车出口的关税，从之前的25%降至15%，以及在华盛顿承诺的5500亿美元投资。因此，汽车股飙升，Stellantis NV上涨6%，雷诺上涨3.3%。此外，奢侈品公司表现强劲，爱马仕上涨2%，路威酩轩集团上涨1.9%，开云集团上涨2.8%。下跌方面，意法半导体和欧陆科学是少数下跌的公司之一，分别下跌2.6%和1.6%。与此同时，投资者密切关注企业盈利报告的出炉。

The CAC 40 jumped 1.3% to 7,841 on Wednesday, snapping a two-session losing streak, as fresh hopes emerged for a potential trade deal between the US and the EU. Optimism was fueled by news of a newly announced trade agreement between the US and Japan, which included a reduction in tariffs on Japanese auto exports to the US—cut to 15% from the previous 25%—as well as $550 billion in pledged investments within the Washington. As a result, auto stocks surged, with Stellantis NV jumping 6% and Renault climbing 3.3%. Moreover, luxury goods companies posted strong performances, with Hermès gaining 2%, LVMH rising 1.9%, and Kering advancing 2.8%. On the downside, STMicroelectronics and Eurofins Scientific were among the few decliners, falling 2.6% and 1.6%, respectively. Meanwhile, investors kept a close watch as corporate earnings reports rolled in.

在巴黎，CAC 40指数周三上涨91点，涨幅1.18%。涨幅最大的公司是Stellantis NV（5.21%）、开云集团（2.74%）和雷诺（2.7%）。

In Paris, the CAC 40 Index is up by 91 points or 1.18 percent on Wednesday. Top gainers are Stellantis NV (5.21%), Kering (2.74%) and Renault (2.74%).

周二，CAC 40指数下跌0.7%，收于7744点，延续了昨日的下跌趋势，因为美国-欧盟关税的临近和企业业绩的不温不火给前景蒙上了阴影。随着8月1日的临近，特朗普总统誓言如果没有达成协议，将对欧洲进口产品征收30%的关税，这促使欧盟起草了报复措施，可能针对美国的服务和公共招标准入，加剧了跨大西洋贸易紧张局势。欧洲央行的一项调查突显了欧元区企业面临的拉锯战，尽管它们对增长仍有信心，但报告称，随着关税风险的加剧，利润率受到挤压。在个股中，跌幅最大的包括空客（-2.5%）、施耐德电气（-1.7%）和（-2.7%）。

The CAC 40 slid 0.7% to close at 7,744 on Tuesday, extending yesterday’s decline as looming US–EU tariffs and tepid corporate results clouded the outlook. With August 1st fast approaching, President Trump’s vow to levy 30% duties on European imports if no accord is reached has prompted the EU to draft retaliatory measures, potentially targeting US services and public-tender access, heightening cross-Atlantic trade tensions. An ECB survey underscored the tug-of-war facing euro-zone firms, while they remain confident in growth but report margin squeezes as tariff risks bite. Among individual stocks, top decliners included Airbus (-2.5%), Schneider Electric (-1.7%), and (-2.7%).