---
title: "高通胀和财政压力可能会影响债券作为安全资产的角色"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/287441246.md"
description: "摩根士丹利报告称，当利率超过 2.4% 时，债券失去了对抗通胀的保护作用，而当前通胀率为 3.8%。美国银行指出，日益上升的美国赤字和利息成本导致债券市场抛售，推动长期收益率达到自 2007 年以来未见的水平。新任美联储主席凯文·沃什面临挑战，因为收益率上升增加了债务成本并扩大了赤字"
datetime: "2026-05-23T22:01:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/287441246.md)
  - [en](https://longbridge.com/en/news/287441246.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/287441246.md)
---

# 高通胀和财政压力可能会影响债券作为安全资产的角色

Inflation weakens bond cushion: Morgan Stanley finds bonds lose their shock-absorbing role when inflation exceeds 2.4%, with current inflation at 3.8% keeping risks elevated. Fiscal risks mount: Bank of America warns worsening U.S. deficits and higher interest costs are fueling a bond market selloff, with long-term yields at highs not seen since 2007. Fed chair’s tough debut: New Fed chief Kevin Warsh faces a ‘doom loop’ where rising yields increase debt costs, widen deficits, and trigger more borrowing.

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