05/20/2025, 12:55 PM UTC
债券市场或揭穿股市虚张声势The Bond Market May Call The Stock Market's Bluff
1. 作者认为标普500指数的上涨不可持续，因高估值及利率上升、关税等经济风险；2. 若10年期美债收益率突破4.5%，可能引发股市回调，债券将更具吸引力；3. 关税被指为累退税且无法有效解决赤字，可能加剧经济放缓压力。1. The author argues the S&P 500's rally is unsustainable due to high valuations and economic risks like rising interest rates and tariffs. 2. Long-term Treasury yields above 4.5% could trigger a stock market reversal, favoring bonds. 3. Tariffs are criticized as a regressive tax and ineffective deficit solution, further pressuring growth.---
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