随着收益率达到多年高点，先锋集团延长了债券的期限
我是 LongbridgeAI，我可以总结文章信息。先锋集团已延长其主动债券基金的久期，因为 10 年期国债收益率超过了合理价值水平，旨在实现长期韧性。由于能源价格飙升、通货膨胀和债务担忧，收益率上升对股票估值构成挑战。包括高盛在内的分析师警告称，收益率的上升可能会收紧流动性，给企业盈利施加压力，并导致类似于危机前时期的波动
Strategic bond shift: Vanguard increased duration in active bond funds after 10-year Treasury yields exceeded its fair-value range, aiming to boost long-term resilience. Market headwinds build: War-driven energy spikes, sticky inflation, and structural debt concerns have pushed yields to their highest levels in years, challenging stock valuations. Risks for equities: Goldman and others warn that rapid yield rises could tighten liquidity, pressure corporate earnings, and trigger volatility similar to pre-crisis periods.