周三，美国10年期国债收益率跌至4.3%以下，达到约一周来的最低水平，尽管在与中国的贸易紧张局势升级的情况下，市场波动预计将持续下去。外交突破的希望仍然渺茫，华盛顿和北京之间没有恢复对话的迹象。特朗普总统最近对是否需要对关键矿产征收关税展开了调查，而英伟达透露，美国政府已阻止某些人工智能芯片在没有许可证的情况下出口到中国。贸易不确定性的加剧继续削弱投资者对美国资产的信心，美国国债似乎失去了一些传统的避险吸引力。与此同时，财政部长斯科特·贝森特淡化了最近的债券市场动荡，他说，“我们还有很长的路要走”，不需要干预，尽管他补充说，“如果有必要，我们有一个可以推出的大工具包”。

The yield on the US 10-year Treasury note dipped below 4.3% on Wednesday, hitting its lowest level in about a week, though market volatility is expected to persist amid escalating trade tensions with China. Hopes for a diplomatic breakthrough remain slim, with no signs of renewed dialogue between Washington and Beijing. President Trump recently launched a probe into whether tariffs are needed on critical minerals, while Nvidia revealed that the US government has blocked the export of certain AI chips to China without a license. The deepening trade uncertainty continues to erode investor confidence in US assets, with Treasuries appearing to lose some of their traditional safe-haven appeal. Meanwhile, Treasury Secretary Scott Bessent downplayed recent bond market turmoil, saying, “We are a long way” from needing to intervene, though he added that “we have a big toolkit that we can roll out” if necessary.

由于投资者信心下降，美元指数跌破99.50，零售商关注。衡量美元对一篮子六种主要货币的美元指数（DXY）在上一交易日上涨后下跌，在周三的欧洲时间交易接近99.50。由于美中贸易紧张局势升级，投资者对美国资产的信心下降，美元面临逆风。

US Dollar Index falls below 99.50 due to eroding investor confidence, Retails Sales eyed.The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, declined after gaining in the previous session, trading near 99.50 during Wednesday's European hours. The Greenback faces headwinds due to eroding investor confidence in US assets amid escalating US-China trade tensions.

周三，美国股指期货下跌，标准普尔500指数期货合约下跌1.3%，纳斯达克100指数下跌2.1%，道琼斯指数下跌约280点，因为贸易紧张局势继续加剧，投资者越来越担心这可能会影响公司利润和业务运营。英伟达股价在盘前交易中下跌超过6%，此前该公司透露，美国政府在没有许可证的情况下阻止了向中国销售某些人工智能芯片。该公司还指出，预计本季度收入将减少55亿美元。交易员还将关注进一步的公司更新，包括雅培和Travelers的收益报告。在数据方面，美国的零售销售和工业生产将成为焦点，交易员还将分析美联储主席鲍威尔在芝加哥经济俱乐部的评论。

Stock futures in the US were lower on Wednesday, with contracts on the S&P 500 futures sinking 1.3%, the Nasdaq 100 tumbling 2.1% and the Dow Jones falling about 280 points, as trade tensions continue to mount and investors are increasingly worried about how it might affect company profits and business operations. Shares of Nvidia sank more than 6% in premarket trading after the company revealed that the US government had blocked sales of certain AI chips to China without a license. The company also noted it expects to take a $5.5 billion revenue hit this quarter as a result. Traders will also monitor further corporate updates, including earnings reports from Abbott and Travelers. On the data front, retail sales and industrial production for the US will take the spotlight and traders will also parse comments from Fed Chair Powell at the Economic Club of Chicago.

美国零售销售会显示消费者退缩吗？。今天，美国3月零售销售和工业生产数据将于下午公布。市场将特别关注零售销售，这为特朗普关税生效后消费者行为的演变提供了确凿的证据。

Will US Retail Sales Show Consumers Retreating?.Today the US March retail sales and industrial production data is due for release in the afternoon. Markets will pay extremely close attention to especially retail sales, which provides hard evidence of how consumer behaviour has evolved after Trump's tariffs began to take effect.