投资者纷纷涌向避险天堂，英镑陷入困境。英镑周五下跌，由于投资者对美国经济、地区银行和全球贸易紧张局势的前景日益担忧，纷纷涌向瑞士法郎和日元等避险货币。

Pound struggles as investors flock to safe havens.Sterling fell on Friday, as investors rushed to safe-haven currencies like the Swiss franc and Japanese yen in light of growing anxiety over the outlook for the U.S. economy, regional banks and global trade tensions.

英国10年期国债收益率跌至4.5%，为7月初以来的最低水平，因为投资者在全球风险厌恶情绪日益高涨的情况下转向更安全的资产。在Zions Bancorp和Western Alliance披露与不良房地产基金相关的欺诈贷款损失后，美国银行业的担忧加剧。这些担忧，再加上汽车贷款公司三色的倒闭和零部件供应商First Brands的破产，加剧了人们对信贷市场压力的更广泛担忧。在英国，失业率意外上升，英国央行行长安德鲁·贝利发表鸽派言论后，收益率也有所下降。贝利表示，经济运行“低于潜力”，劳动力市场正在疲软，失业率上升至4.8%，为2021年以来的最高水平。交易员们现在完全预计到2月将降息，并预计最快在12月加息。8月份GDP温和增长0.1%，以及财政大臣雷切尔·里夫斯11月26日预算中削减开支和增税的预期，加剧了谨慎的前景。

The UK 10-year gilt yield fell to 4.5%, its lowest since early July, as investors moved into safer assets amid growing global risk aversion. Fears from the US banking sector intensified after Zions Bancorp and Western Alliance revealed losses linked to fraudulent loans tied to distressed property funds. These worries, combined with the collapse of auto lender Tricolor and the bankruptcy of parts supplier First Brands, fueled broader concerns about credit market stress. In the UK, yields also dropped after a surprise uptick in unemployment and dovish remarks from BoE Governor Andrew Bailey, who said the economy is operating “below potential” and the labor market is softening, with joblessness rising to 4.8%, the highest since 2021. Traders are now fully pricing in a rate cut by February and see a possible move as soon as December. Modest 0.1% GDP growth in August and anticipation of spending cuts and tax hikes in Chancellor Rachel Reeves’s Nov. 26 budget add to the cautious outlook.

周五，富时100指数下跌1.5%，因对美国银行的担忧蔓延到欧洲，银行股大幅下跌。有关两家美国地区银行贷款涉嫌欺诈的报道扰乱了市场，引发了人们对更广泛信贷风险的担忧。巴克莱银行和渣打银行下跌约5%，国民西敏银行下跌超过3%，汇丰银行和劳埃德银行各下跌约2.5%。更广泛的金融股也走弱，中间资本下跌超过7%，保诚下跌超过3%，法律与一般保险公司和苏格兰抵押贷款公司均下跌近3%。制药股下跌，阿斯利康和葛兰素史克分别下跌1.3%和2%，石油巨头下跌，壳牌和英国石油公司在原油价格疲软的情况下分别下跌1%和2%以上。从好的方面来看，培生集团在报告第三季度销售额增长4%并重申其全年前景后上涨了近3%，理由是企业合作伙伴关系的增长以及其人工智能学习工具的良好业绩。

The FTSE 100 fell 1.5% on Friday, weighed down by a sharp selloff in banking stocks as concerns over US lenders spread to Europe. Reports of suspected fraud tied to loans from two American regional banks rattled markets, raising fears of wider credit risks. Barclays and Standard Chartered dropped about 5%, NatWest fell over 3%, and HSBC and Lloyds each declined around 2.5%. Broader financials also weakened, with Intermediate Capital down over 7%, Prudential more than 3%, and Legal & General and Scottish Mortgage each falling near 3%. Losses extended to pharma stocks, as AstraZeneca and GSK slipped 1.3% and 2%, and to oil majors, with Shell and BP down over 1% and 2% amid softer crude prices. On the upside, Pearson rose nearly 3% after reporting a 4% Q3 sales increase and reaffirming its full-year outlook, citing growth in enterprise partnerships and promising results from its AI-powered learning tools.

在伦敦，富时100指数下跌了143点。领跌的是中间资本（-7.20%）、巴克莱银行（-5.08%）和渣打银行（-5.01%）。

In London, the FTSE 100 Index is dropping 143 points. Leading the losses are Intermediate Capital (-7.20%), Barclays (-5.08%) and Standard Chartered (-5.01%).