<p>投资者在美联储戏剧之后期待关键的英伟达财报</p>
<p>美联储独立性面临威胁，导致国债收益率陡峭化</p>
<p>美元因降息押注承压</p>
<p>法国政治危机再度引发关注</p>
<p>（更新至亚洲下午）</p>
<p>作者：Ankur Banerjee</p>
<p>新加坡，8 月 27 日（路透社）- 亚洲股市在周三徘徊，等待人工智能领军企业英伟达（NVDA.O）的财报，这将影响近期的风险情绪，同时由于投资者对美联储独立性的攻击感到紧张，美元也出现波动。</p>
<p>欧洲期货（STXEc1）显示开盘上涨，但投资者可能对法国总理弗朗索瓦·巴伊鲁为其深受欢迎的减债计划争取支持的赌注失败感到失望。</p>
<p>最新的政治动荡发生在法国在 2024 年末因预算问题失去了最后一位总理米歇尔·巴尔尼耶，后者在任职仅三个月后遭到不信任投票。</p>
<p>与此同时，自唐纳德·特朗普总统周一下令解雇美联储理事丽莎·库克以来，美国国债收益率曲线一直在陡峭化，这一前所未有的举动可能导致法律争斗，因为库克的律师表示她将提起诉讼以阻止这一决定。</p>
<p>“美联储表示将遵循法院对丽莎·库克的任何裁决，但现实是美联储陷入了困境，” TD 证券亚太区利率策略师普拉尚特·纽纳哈说。</p>
<p>“如果法院最终裁定支持特朗普，这可能使主席（杰罗姆）鲍威尔面临被解雇的风险，因为他允许非美联储员工代表美联储董事会做出决策，” 他说。</p>
<p>两年期国债收益率（US2YT=RR）通常与利率预期同步，触及自 5 月以来的最低点 3.654%，但最后上涨 1.8 个基点至 3.661%。30 年期国债收益率（US30YT=RR）上涨 1.4 个基点至 4.922%。</p>
<p>特朗普多次批评鲍威尔和政策制定者未能降息。市场观察者解读鲍威尔上周的言论为暗示降息可能即将到来。</p>
<p>这导致投资者押注下个月会降息，交易员预计美联储在 9 月行动的概率为 84%，并预计到 6 月将有超过 100 个基点的降息。</p>
<p>在亚洲交易时段，美元在前一交易日下跌后小幅反弹。欧元（EUR=EBS）下跌 0.2%，报 1.161825 美元，而日元兑美元贬值至 147.87。（FRX/）</p>
<p>“我认为投资者更关注即将公布的就业数据，以及这对 9 月加息的影响，” 法律与一般投资管理公司的亚太区投资策略师本·贝内特表示。</p>
<p>“希望在劳动力市场没有急剧恶化的情况下，降息仍然在考虑之中。今晚的英伟达财报对市场的短期方向也将至关重要。”</p>
<p>数据显示，期权交易者预计英伟达在财报发布后市值将波动约 2600 亿美元，其在中国的业务将因与特朗普政府达成的异常利润分享协议而受到关注。</p>
<p>在中美贸易战的交火中，英伟达在中国的业务命运取决于世界两大经济体在关税谈判和芯片贸易限制上的立场。</p>
<p>MSCI 亚太地区（不包括日本）股票的广泛指数（.MIAPJ0000PUS）变化不大。尽管如此，中国股市依然强劲，蓝筹股指数（.CSI300）创下三年新高，受到科技行业的提振。</p>
<p>在商品市场，现货黄金（XAU=）在前一交易日触及两周高点后下跌 0.47%。</p>
<p>油价在前一交易日下跌后趋于稳定，市场关注乌克兰战争的新进展，投资者权衡美国对印度这一全球第三大原油消费国的新关税。</p>
<p>布伦特原油期货（LCOc1）上涨 5 美分，报每桶 67.27 美元，而西德克萨斯中质原油期货（CLc1）上涨 3 美分，报每桶 63.28 美元。</p>
<p>世界外汇汇率年初至今 在此</p>

英伟达

<p>亚洲股市波动，投资者在等待英伟达的财报，预计该财报将影响市场情绪。对美联储独立性的担忧导致国债收益率上升，而由于预期降息，美元仍面临压力。法国的政治不稳定也影响了投资者情绪。两年期国债收益率最近有所上升，交易员们预计下个月美联储降息的可能性很高。英伟达的财报尤其重要，因为其与中国的商业关系在持续的贸易紧张局势中显得尤为关键</p>

<p>Investors await pivotal Nvidia earnings after Fed drama</p>
<div class="lb-trans"><p>投资者在美联储戏剧之后期待关键的英伟达财报</p>
</div><p>Fed independence under threat, leads Treasury yields to steepen</p>
<div class="lb-trans"><p>美联储独立性面临威胁，导致国债收益率陡峭化</p>
</div><p>Dollar under pressure on rate-cut wagers</p>
<div class="lb-trans"><p>美元因降息押注承压</p>
</div><p>French political crisis back in focus</p>
<div class="lb-trans"><p>法国政治危机再度引发关注</p>
</div><p>(Updates to Asia afternoon)</p>
<div class="lb-trans"><p>（更新至亚洲下午）</p>
</div><p>By Ankur Banerjee</p>
<div class="lb-trans"><p>作者：Ankur Banerjee</p>
</div><p>SINGAPORE, Aug 27 (Reuters) - Asian stocks meandered on Wednesday ahead of an earnings report from AI leader Nvidia (NVDA.O) that will shape near-term risk sentiment, while the U.S. dollar wobbled as investors remained nervous about attacks on Federal Reserve autonomy.</p>
<div class="lb-trans"><p>新加坡，8 月 27 日（路透社）- 亚洲股市在周三徘徊，等待人工智能领军企业英伟达（NVDA.O）的财报，这将影响近期的风险情绪，同时由于投资者对美联储独立性的攻击感到紧张，美元也出现波动。</p>
</div><p>European futures (STXEc1) indicated a higher open but investors are likely to take a dim view of the political drama in France after Prime Minister Francois Bayrou’s gamble to win backing for his deeply unpopular debt-reduction plan backfired.</p>
<div class="lb-trans"><p>欧洲期货（STXEc1）显示开盘上涨，但投资者可能对法国总理弗朗索瓦·巴伊鲁为其深受欢迎的减债计划争取支持的赌注失败感到失望。</p>
</div><p>The latest political turmoil comes after France lost its last prime minister, Michel Barnier, to a no-confidence vote over the budget in late 2024, after just three months in office.</p>
<div class="lb-trans"><p>最新的政治动荡发生在法国在 2024 年末因预算问题失去了最后一位总理米歇尔·巴尔尼耶，后者在任职仅三个月后遭到不信任投票。</p>
</div><p>Meanwhile, the U.S. Treasury yield curve has been steepening since President Donald Trump on Monday ordered the firing of Federal Reserve Governor Lisa Cook, an unprecedented move that could lead to a legal tussle after a lawyer for Cook said she will file a lawsuit to prevent it.</p>
<div class="lb-trans"><p>与此同时，自唐纳德·特朗普总统周一下令解雇美联储理事丽莎·库克以来，美国国债收益率曲线一直在陡峭化，这一前所未有的举动可能导致法律争斗，因为库克的律师表示她将提起诉讼以阻止这一决定。</p>
</div><p>“The Fed has said it will abide by any decision the court makes on Lisa Cook but the reality is the Fed is in a bind,” said Prashant Newnaha, senior Asia-Pacific rates strategist at TD Securities.</p>
<div class="lb-trans"><p>“美联储表示将遵循法院对丽莎·库克的任何裁决，但现实是美联储陷入了困境，” TD 证券亚太区利率策略师普拉尚特·纽纳哈说。</p>
</div><p>“If the court ends up ruling in favour of Trump, this potentially puts Chair (Jerome) Powell in line to be fired for permitting a non-Fed employee to make decisions on behalf of the Fed Board” should Cook continue to serve between Trump’s firing and the court’s decision.</p>
<div class="lb-trans"><p>“如果法院最终裁定支持特朗普，这可能使主席（杰罗姆）鲍威尔面临被解雇的风险，因为他允许非美联储员工代表美联储董事会做出决策，” 他说。</p>
</div><p>The yield on the two-year note (US2YT=RR) , which typically moves in step with interest rate expectations, hit its lowest since May at 3.654% but was last up 1.8 basis points at 3.661%. The yield on the 30-year note (US30YT=RR) was 1.4 bps higher at 4.922%.</p>
<div class="lb-trans"><p>两年期国债收益率（US2YT=RR）通常与利率预期同步，触及自 5 月以来的最低点 3.654%，但最后上涨 1.8 个基点至 3.661%。30 年期国债收益率（US30YT=RR）上涨 1.4 个基点至 4.922%。</p>
</div><p>Trump has repeatedly criticised Powell and policymakers for not cutting interest rates. Market watchers interpreted Powell comments last week as indicating cuts could be on the way.</p>
<div class="lb-trans"><p>特朗普多次批评鲍威尔和政策制定者未能降息。市场观察者解读鲍威尔上周的言论为暗示降息可能即将到来。</p>
</div><p>That has led to investors wagering a cut next month, with traders pricing in an 84% chance of the Fed moving in September and expecting more than 100 bps of easing by June.</p>
<div class="lb-trans"><p>这导致投资者押注下个月会降息，交易员预计美联储在 9 月行动的概率为 84%，并预计到 6 月将有超过 100 个基点的降息。</p>
</div><p>The dollar staged a small recovery in Asian hours after dropping in the previous session. The euro (EUR=EBS) eased 0.2% at $1.161825, while the yen weakened to 147.87 a dollar. (FRX/)</p>
<div class="lb-trans"><p>在亚洲交易时段，美元在前一交易日下跌后小幅反弹。欧元（EUR=EBS）下跌 0.2%，报 1.161825 美元，而日元兑美元贬值至 147.87。（FRX/）</p>
</div><p>“I think investors are focused more on the upcoming payroll print and what that means for a September rate move,” said Ben Bennett, APAC investment strategist at Legal and General Investment Management.</p>
<div class="lb-trans"><p>“我认为投资者更关注即将公布的就业数据，以及这对 9 月加息的影响，” 法律与一般投资管理公司的亚太区投资策略师本·贝内特表示。</p>
</div><p>“The hope is that a rate cut is still on the cards without a sharp deterioration in the labour market. Tonight’s Nvidia results will also be important for the near-term direction of markets.”</p>
<div class="lb-trans"><p>“希望在劳动力市场没有急剧恶化的情况下，降息仍然在考虑之中。今晚的英伟达财报对市场的短期方向也将至关重要。”</p>
</div><p>Data showed options traders are pricing in about a $260 billion swing in Nvidia’s market value after the firm reports earnings, where its business in China will be in focus following an unusual profit-sharing deal with the Trump administration.</p>
<div class="lb-trans"><p>数据显示，期权交易者预计英伟达在财报发布后市值将波动约 2600 亿美元，其在中国的业务将因与特朗普政府达成的异常利润分享协议而受到关注。</p>
</div><p>Caught in the crossfire of a Sino-U.S. trade war, the fate of Nvidia’s China business hangs on where the world’s two largest economies land on tariff talks and chip trade curbs.</p>
<div class="lb-trans"><p>在中美贸易战的交火中，英伟达在中国的业务命运取决于世界两大经济体在关税谈判和芯片贸易限制上的立场。</p>
</div><p>MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was little changed. Chinese stocks though remain on the charge with the blue-chip stock index (.CSI300) hitting a three-year high, buoyed by tech sector.</p>
<div class="lb-trans"><p>MSCI 亚太地区（不包括日本）股票的广泛指数（.MIAPJ0000PUS）变化不大。尽管如此，中国股市依然强劲，蓝筹股指数（.CSI300）创下三年新高，受到科技行业的提振。</p>
</div><p>In commodities, spot gold (XAU=) was 0.47% lower after hitting a two-week high in the previous session.</p>
<div class="lb-trans"><p>在商品市场，现货黄金（XAU=）在前一交易日触及两周高点后下跌 0.47%。</p>
</div><p>Oil prices steadied after falling in the previous session, as the market watched for fresh developments in the Ukraine war and investors weighed hefty new U.S. tariffs on India, the world’s third-biggest crude consumer.</p>
<div class="lb-trans"><p>油价在前一交易日下跌后趋于稳定，市场关注乌克兰战争的新进展，投资者权衡美国对印度这一全球第三大原油消费国的新关税。</p>
</div><p>Brent crude futures (LCOc1) rose 5 cents to $67.27 per barrel, while West Texas Intermediate crude futures (CLc1) were up 3 cents at $63.28.</p>
<div class="lb-trans"><p>布伦特原油期货（LCOc1）上涨 5 美分，报每桶 67.27 美元，而西德克萨斯中质原油期货（CLc1）上涨 3 美分，报每桶 63.28 美元。</p>
</div><p>World FX rates YTD here</p>
<div class="lb-trans"><p>世界外汇汇率年初至今 在此</p>
</div>

GLOBAL MARKETS-Asia stocks meander ahead of Nvidia; investors wary over Fed independence

- 亚洲股市在等待 Nvidia 财报，市场情绪不稳。  
- 法国政治危机加剧，影响投资者信心。  
- 美元因降息预期承压，市场关注即将公布的就业数据。

全球市场 - 亚洲股市在英伟达发布前徘徊；投资者对美联储的独立性保持谨慎