---
title: "在通脹壓力下，30 年期美國國債收益率突破了 5%"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/286498051.md"
description: "30 年期國債收益率因強勁的通脹數據和上漲的油價已超過 5%，這導致市場對更緊縮貨幣政策的預期。股票收益率與國債收益率之間的差距達到了自 2003 年以來的最高水平，這給股票市場帶來了挑戰。即將上任的美聯儲主席凱文·沃什可能會實施資產負債表縮減，這可能會增加國債供應並維持長期利率的高位"
datetime: "2026-05-15T02:41:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286498051.md)
  - [en](https://longbridge.com/en/news/286498051.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286498051.md)
---

# 在通脹壓力下，30 年期美國國債收益率突破了 5%

Yields break milestone: The 30-year Treasury yield exceeded 5% after strong inflation readings and higher oil prices spurred expectations of tighter monetary policy. Stocks face headwinds: The gap between stock earnings yields and Treasury yields is at its widest negative level since 2003, challenging the case for equities. Fed policy uncertainty: Incoming Fed Chair Kevin Warsh may pursue balance sheet reduction, potentially increasing Treasury supply and keeping long-term rates elevated.

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