--- title: "德國 10 年期國債收益率連續第七個交易日下跌，全球債券市場普遍上漲" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/276147810.md" description: "德國 10 年期國債收益率連續第七個交易日下跌，降至 2.735%，受到全球債券反彈和對人工智能的擔憂影響。美國國債收益率也因疲軟的通脹數據降至 4.018%。分析師警告稱，債券反彈可能接近極限，預計隨着歐元區經濟改善和債券發行增加，收益率可能會上升。預計歐洲中央銀行將在 2026 年前維持利率穩定，年末有小幅降息的可能" datetime: "2026-02-17T16:00:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276147810.md) - [en](https://longbridge.com/en/news/276147810.md) - [zh-HK](https://longbridge.com/zh-HK/news/276147810.md) --- # 德國 10 年期國債收益率連續第七個交易日下跌，全球債券市場普遍上漲 \* German Bund yield drops as bonds rally globally \* US Treasury yield falls after soft inflation data and AI worries \* Analysts suggest bond rally may be nearing its limit (Updates with European afternoon trade) LONDON, Feb 17 (Reuters) - Germany's benchmark bond yield fell for a seventh ​session on Tuesday as the safe haven asset benefited from ‌some nervousness across markets around artificial intelligence, spillovers from global peers and the chance of one more European Central Bank ⁠rate cut later this year. The 10-year German Bund yield, the benchmark for the euro zone, was ⁠down 2 basis points at 2.735%, its lowest since early December, ‌and has fallen in ‌each session since February 9. It has been moving somewhat in sympathy with other markets in recent days. The 10-year ​U.S. Treasury yield dropped to 4.018% on Tuesday, ‌its lowest since late November, after U.S. markets were closed for the Presidents Day holiday on Monday. Softer U.S. inflation data on Friday and worries ​about AI disruption in the stock market have ​been helping ‌Treasuries. Meanwhile, Japanese yields dropped sharply on Tuesday, extending their move since Prime Minister Sanae Takaichi's big election win earlier this month. British government bond yields were also lower ⁠after soft labour market data. And Tuesday's European data did little to shift the ⁠focus back to the euro zone. German investor morale unexpectedly fell in February, the ZEW economic research institute said. However, the assessment of the current economic situation continued to improve, it said. Some analysts think the recent rally in government bonds could be nearing its limit. "Fundamentally speaking, it ⁠would appear ‌to us that the latest yield move has got too far ‌ahead of itself," said analysts at DZ Bank in a note. They think yields will grind ⁠higher in the coming months as euro zone countries continue to issue large amounts of bonds, the economies improve, and the European Central Bank sees no need to adjust rates any time soon. Markets see the ECB as keeping rates steady across 2026, though they do see some chance of one further rate cut by year-end. Late last year, market pricing reflected expectations that the ECB's next move could be a ​hike, but futures imply about a 40% chance of a cut by the end of 2026. Other euro zone bonds were largely moving in line with the German benchmark. France's 10-year ​yield was down 2.5 bps at 3.318% ‌and Italy's was down to 3.359%. (Reporting by Alun John; Editing ​by Bernadette Baum and Susan Fenton) ### 相關股票 - [VCIT.US](https://longbridge.com/zh-HK/quote/VCIT.US.md) - [159651.CN](https://longbridge.com/zh-HK/quote/159651.CN.md) - [XGSG.UK](https://longbridge.com/zh-HK/quote/XGSG.UK.md) - [SCHI.US](https://longbridge.com/zh-HK/quote/SCHI.US.md) - [BND.US](https://longbridge.com/zh-HK/quote/BND.US.md) - [SPIB.US](https://longbridge.com/zh-HK/quote/SPIB.US.md) - [IEF.US](https://longbridge.com/zh-HK/quote/IEF.US.md) - [SEGA.UK](https://longbridge.com/zh-HK/quote/SEGA.UK.md) - [VCLT.US](https://longbridge.com/zh-HK/quote/VCLT.US.md) - [SHV.US](https://longbridge.com/zh-HK/quote/SHV.US.md) - [VUTY.UK](https://longbridge.com/zh-HK/quote/VUTY.UK.md) - [511520.CN](https://longbridge.com/zh-HK/quote/511520.CN.md) - [TLT.US](https://longbridge.com/zh-HK/quote/TLT.US.md) - [XGIG.UK](https://longbridge.com/zh-HK/quote/XGIG.UK.md) - [SDEU.UK](https://longbridge.com/zh-HK/quote/SDEU.UK.md) - [LQD.US](https://longbridge.com/zh-HK/quote/LQD.US.md) - [SHY.US](https://longbridge.com/zh-HK/quote/SHY.US.md) - [BIL.US](https://longbridge.com/zh-HK/quote/BIL.US.md) - [VCSH.US](https://longbridge.com/zh-HK/quote/VCSH.US.md) - [GVI.US](https://longbridge.com/zh-HK/quote/GVI.US.md) - [XG7U.UK](https://longbridge.com/zh-HK/quote/XG7U.UK.md) - [GOVT.US](https://longbridge.com/zh-HK/quote/GOVT.US.md) - [AGG.US](https://longbridge.com/zh-HK/quote/AGG.US.md) - [511090.CN](https://longbridge.com/zh-HK/quote/511090.CN.md) - [IGSB.US](https://longbridge.com/zh-HK/quote/IGSB.US.md) ## 相關資訊與研究 - [國債市場——伊朗提交與美談判新提議，收益率下跌](https://longbridge.com/zh-HK/news/284932009.md) - [歐洲央行表示 3 月消費者通膨預期上升](https://longbridge.com/zh-HK/news/284375515.md) - [三大票委 “反對降息”，短期美債應聲大跌，利率市場預期 2027 年美聯儲 “加息”](https://longbridge.com/zh-HK/news/284662158.md) - [美聯儲鷹派按兵不動後，美國30年期國債收益率突破5%](https://longbridge.com/zh-HK/news/284720507.md) - [美國國債規模自第二次世界大戰以來首次超過經濟總量](https://longbridge.com/zh-HK/news/284833735.md)