<p>日经指数上涨近 2%，华尔街期货上扬</p><p>日元兑欧元和瑞士法郎接近历史低点，日本国债遭受重创</p><p>银价创下新高；因委内瑞拉消息油价上涨</p><p>作者：内尔·麦肯齐和韦恩·科尔</p><p>伦敦/悉尼，12 月 22 日（路透社）——全球股市普遍上涨，而欧洲市场周一低开，未能跟随华尔街的科技驱动涨势，日元兑欧元接近历史低点，因利率上升对日本政府债务施加压力。</p><p>MSCI 全球股票指数（.MIWD00000PUS）上涨 0.2%。周一，欧洲股市（.STOXX）在薄弱的市场中下跌 0.2%，投资者在假期缩短的一周开始时表现平淡，此前一交易日创下历史新高。</p><p>由于美国股市和债市在周四圣诞节休市，投资者埃尔伦资本管理公司的董事总经理布鲁诺·施内尔表示，预计本周末交易量将保持低迷。</p><p>“因此，市场走势可能更多地受到数据结果和投资者布局的驱动，而不是新的政策信号，投资者主要集中在年底收尾，关注 1 月份的劳动力市场和通胀数据发布，” 他补充道。</p><p>尽管对世界大部分地区来说这一周是假期缩短的一周，但在延迟数据发布之前，动量基金仍然流入股票、贵金属和商品，预计美国经济在第三季度继续强劲增长。</p><p>中位数预测显示年化增长率为 3.2%，部分原因是由于在关税引入前，进口大幅回落。</p><p>然而，美国银行的分析师发出了一些警告，指出他们的投资者情绪指标已升至极度乐观的 8.5，通常是反转的前兆。</p><p>“情绪数据强化了谨慎信号：基金经理调查显示，过去 3 年半中最乐观的情绪，主要受到利率、关税和减税预期的驱动。”</p><p>目前，错失机会的恐惧似乎更为强烈，标准普尔 500 期货（ESc1）上涨 0.3%，纳斯达克期货（NQc1）上涨 0.5%。</p><p>日本日经指数（.N225）上涨 1.8%，延续了周五的反弹，日元的急剧贬值预计将提升日本企业的出口收益。中国蓝筹股（.CSI300）收盘上涨近 1%。</p><p>日元贬值是因为日本银行将利率提高至 30 年来的最高点 0.75%，并暗示将进一步加息，导致政府债务受到重创。10 年期国债收益率（JP10YTN=JBTC）再上涨 6 个基点，达到 2.08%，为 1999 年以来的最高水平。</p><p>日本银行会议纪要将于周三公布，而中央银行行长将在圣诞节对日本商业游说团发表讲话。</p><h3>关注干预</h3><p>日元兑欧元触及 184.92 的新低（EURJPY=EBS）。美元上涨 0.2%，报 157.43（JPY=EBS），投资者对测试 11 月的高点 157.90 持谨慎态度，以免引发东京的干预。</p><p>日本官员明确表示对单边走势的担忧，并警告将对过度贬值采取适当措施。</p><p>TD 证券的分析师指出，上周股市录得创纪录的 980 亿美元的周流入，主要由美国股票基金主导。中国股票基金录得 2025 年以来的第三大周流入，新兴市场则吸引了自 4 月以来的最大流入。</p><p>然而，债券流入则连续第四周放缓。美国 10 年期国债收益率（US10YT=TWEB）稳定在 4.167% 左右。</p><p>周一，黄金价格首次突破每盎司 4400 美元，受益于对美国进一步降息的预期和强劲的避险需求。</p><p>银价也创下新高，达到 69.44 美元（XAG=），今年涨幅接近 140%。油价在美国拦截了一艘委内瑞拉油轮后也有所上涨，并正在追踪另一艘，这将是不到两周内的第三次此类行动。（O/R）</p><p>布伦特原油（LCOc1）上涨 53 美分，报每桶 60.99 美元，而美国原油（CLc1）上涨 50 美分，报每桶 57.03 美元。</p>

<p>全球市场呈现出混合趋势，欧洲股市下跌，而华尔街期货上涨。日元兑欧元接近历史低点，受到日本政府债务利率上升的压力。尽管这一周因假期缩短，动量基金仍流入股票和商品。日本银行提高了利率，影响了日元和政府债券。分析师警告称市场存在极端的看涨情绪，而黄金和白银达到了历史新高。由于美国对委内瑞拉油轮的行动，油价上涨</p>

<p>Nikkei climbs almost 2%, Wall St futures rise</p>
<div class="lb-trans"><p>日经指数上涨近 2%，华尔街期货上扬</p>
</div><p>Yen near all-time lows vs euro and Swiss franc, JGBs slugged</p>
<div class="lb-trans"><p>日元兑欧元和瑞士法郎接近历史低点，日本国债遭受重创</p>
</div><p>Silver hits a fresh peak; oil up on Venezuela news</p>
<div class="lb-trans"><p>银价创下新高；因委内瑞拉消息油价上涨</p>
</div><p>By Nell Mackenzie and Wayne Cole</p>
<div class="lb-trans"><p>作者：内尔·麦肯齐和韦恩·科尔</p>
</div><p>LONDON/SYDNEY, Dec 22 (Reuters) - World shares rose broadly while European markets opened lower on Monday diverging from tech-driven gains on Wall Street, while the yen floundered near all-time lows against the euro as higher interest rates piled pressure on Japanese government debt.</p>
<div class="lb-trans"><p>伦敦/悉尼，12 月 22 日（路透社）——全球股市普遍上涨，而欧洲市场周一低开，未能跟随华尔街的科技驱动涨势，日元兑欧元接近历史低点，因利率上升对日本政府债务施加压力。</p>
</div><p>MSCI’s broadest index of world shares (.MIWD00000PUS) added 0.2%. European shares (.STOXX) dithered 0.2% lower on Monday in thin markets, as investors started a holiday-shortened week on a tepid note following the previous session’s record-high close.</p>
<div class="lb-trans"><p>MSCI 全球股票指数（.MIWD00000PUS）上涨 0.2%。周一，欧洲股市（.STOXX）在薄弱的市场中下跌 0.2%，投资者在假期缩短的一周开始时表现平淡，此前一交易日创下历史新高。</p>
</div><p>With U.S. equity and bond markets closed on Thursday for Christmas, trading volumes are expected to remain light through the end of the week, said Bruno Schneller, managing director at investor Erlen Capital Management.</p>
<div class="lb-trans"><p>由于美国股市和债市在周四圣诞节休市，投资者埃尔伦资本管理公司的董事总经理布鲁诺·施内尔表示，预计本周末交易量将保持低迷。</p>
</div><p>“As a result, market moves are likely to be driven more by data outcomes and positioning than by new policy signals, with investors largely focused on closing out the year ahead of January’s labour market and inflation releases,” he added.</p>
<div class="lb-trans"><p>“因此，市场走势可能更多地受到数据结果和投资者布局的驱动，而不是新的政策信号，投资者主要集中在年底收尾，关注 1 月份的劳动力市场和通胀数据发布，” 他补充道。</p>
</div><p>Despite it being a holiday-shortened week for much of the world, momentum funds were still flowing to equities, precious metals and commodities ahead of delayed data that is forecast to show the U.S. economy had continued to grow strongly in the third quarter.</p>
<div class="lb-trans"><p>尽管对世界大部分地区来说这一周是假期缩短的一周，但在延迟数据发布之前，动量基金仍然流入股票、贵金属和商品，预计美国经济在第三季度继续强劲增长。</p>
</div><p>Median forecasts tip annualised growth of 3.2%, due in part to a sharp pullback in imports after a run-up earlier in the year ahead of the introduction of tariffs.</p>
<div class="lb-trans"><p>中位数预测显示年化增长率为 3.2%，部分原因是由于在关税引入前，进口大幅回落。</p>
</div><p>Yet analysts at BofA had some words of caution, noting their measure of investor sentiment had moved into extreme bullish territory at 8.5, often a prelude to a reversal.</p>
<div class="lb-trans"><p>然而，美国银行的分析师发出了一些警告，指出他们的投资者情绪指标已升至极度乐观的 8.5，通常是反转的前兆。</p>
</div><p>“Sentiment data reinforce the cautionary signal: the Fund Manager Survey shows most bullish sentiment in 3-1⁄2 years, driven by expectations of rate, tariff, and tax cuts.”</p>
<div class="lb-trans"><p>“情绪数据强化了谨慎信号：基金经理调查显示，过去 3 年半中最乐观的情绪，主要受到利率、关税和减税预期的驱动。”</p>
</div><p>For now the fear of missing out seemed to be greater and S&amp;P 500 futures (ESc1) added another 0.3%, with Nasdaq futures (NQc1) up 0.5%.</p>
<div class="lb-trans"><p>目前，错失机会的恐惧似乎更为强烈，标准普尔 500 期货（ESc1）上涨 0.3%，纳斯达克期货（NQc1）上涨 0.5%。</p>
</div><p>Japan’s Nikkei (.N225) finished up 1.8%, extending Friday’s bounce as a steep decline in the yen promised to boost export earnings for Japanese corporates. Chinese blue chips (.CSI300) closed up almost 1% higher.</p>
<div class="lb-trans"><p>日本日经指数（.N225）上涨 1.8%，延续了周五的反弹，日元的急剧贬值预计将提升日本企业的出口收益。中国蓝筹股（.CSI300）收盘上涨近 1%。</p>
</div><p>The yen selloff came as the Bank of Japan raised rates to a 30-year high of 0.75% and flagged more to come, slamming government debt. Yields on 10-year bonds (JP10YTN=JBTC) surged a further 6 basis points to 2.08%, levels not seen since 1999.</p>
<div class="lb-trans"><p>日元贬值是因为日本银行将利率提高至 30 年来的最高点 0.75%，并暗示将进一步加息，导致政府债务受到重创。10 年期国债收益率（JP10YTN=JBTC）再上涨 6 个基点，达到 2.08%，为 1999 年以来的最高水平。</p>
</div><p>Minutes of the BOJ meeting are due on Wednesday, while the head of the central bank speaks to a Japanese business lobby on Christmas Day.</p>
<div class="lb-trans"><p>日本银行会议纪要将于周三公布，而中央银行行长将在圣诞节对日本商业游说团发表讲话。</p>
</div><h3>ON INTERVENTION WATCH</h3>
<div class="lb-trans"><h3>关注干预</h3>
</div><p>The yen touched a fresh record trough on the euro at 184.92 (EURJPY=EBS) . The dollar gained 0.2% at 157.43 (JPY=EBS) , with investors wary of testing the November peak of 157.90 in case that triggered intervention from Tokyo.</p>
<div class="lb-trans"><p>日元兑欧元触及 184.92 的新低（EURJPY=EBS）。美元上涨 0.2%，报 157.43（JPY=EBS），投资者对测试 11 月的高点 157.90 持谨慎态度，以免引发东京的干预。</p>
</div><p>Japanese officials duly signalled their concern about one-way moves and warned of appropriate action against an excessive decline.</p>
<div class="lb-trans"><p>日本官员明确表示对单边走势的担忧，并警告将对过度贬值采取适当措施。</p>
</div><p>Analysts at TD Securities noted equity markets recorded their highest weekly inflows on record at $98 billion last week, led by U.S. equity funds. Chinese equity funds saw their third largest weekly inflow of 2025, and emerging markets drew their largest inflows since April.</p>
<div class="lb-trans"><p>TD 证券的分析师指出，上周股市录得创纪录的 980 亿美元的周流入，主要由美国股票基金主导。中国股票基金录得 2025 年以来的第三大周流入，新兴市场则吸引了自 4 月以来的最大流入。</p>
</div><p>Flows to bonds, however, saw their fourth straight week of slowdown. U.S. 10-year yields (US10YT=TWEB) steadied around 4.167%.</p>
<div class="lb-trans"><p>然而，债券流入则连续第四周放缓。美国 10 年期国债收益率（US10YT=TWEB）稳定在 4.167% 左右。</p>
</div><p>Gold jumped past the $4,400-per-ounce level for the first time on Monday, riding on growing expectations of further U.S. rate cuts and strong safe-haven demand.</p>
<div class="lb-trans"><p>周一，黄金价格首次突破每盎司 4400 美元，受益于对美国进一步降息的预期和强劲的避险需求。</p>
</div><p>Silver also hit a fresh record high of $69.44 (XAG=) , bringing gains this year to almost 140%. Oil prices also perked up after the U.S. intercepted a Venezuelan oil tanker over the weekend, and was pursuing another one in what would be the third such operation in less than two weeks. (O/R)</p>
<div class="lb-trans"><p>银价也创下新高，达到 69.44 美元（XAG=），今年涨幅接近 140%。油价在美国拦截了一艘委内瑞拉油轮后也有所上涨，并正在追踪另一艘，这将是不到两周内的第三次此类行动。（O/R）</p>
</div><p>Brent (LCOc1) firmed 53 cents to $60.99 a barrel, while U.S. crude (CLc1) rose 50 cents to $57.03 per barrel.</p>
<div class="lb-trans"><p>布伦特原油（LCOc1）上涨 53 美分，报每桶 60.99 美元，而美国原油（CLc1）上涨 50 美分，报每桶 57.03 美元。</p>
</div>

全球市场——欧洲市场小幅下跌，日元无人问津，债券市场承压