---
title: "隨着債券收益率飆升，高股票估值正面臨壓力"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/286708620.md"
description: "債券收益率飆升，30 年期國債收益率超過 5%，10 年期國債收益率超過 4.5%，引發了對股市韌性的擔憂。儘管回調了 1%，標普 500 指數年初至今仍上漲超過 8%，目前的交易市盈率為 21.3 倍。投資組合經理們正在採取混合策略，平衡防禦性資產與受人工智能樂觀情緒驅動的超大盤成長股投資"
datetime: "2026-05-18T03:29:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286708620.md)
  - [en](https://longbridge.com/en/news/286708620.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286708620.md)
---

# 隨着債券收益率飆升，高股票估值正面臨壓力

Yields hit highs: The 30-year Treasury yield rose above 5% and the 10-year surpassed 4.5%, raising concerns about equity market resilience. Stocks still elevated: The S&P 500 remains up over 8% year-to-date, trading at 21.3 times forward earnings despite Friday's 1% pullback. Mixed investor strategies: Portfolio managers are balancing defensive assets like cash and gold with positions in mega-cap growth stocks amid AI-driven optimism.

### 相關股票

- [.SPX.US](https://longbridge.com/zh-HK/quote/.SPX.US.md)
- [VOO.US](https://longbridge.com/zh-HK/quote/VOO.US.md)
- [MGK.US](https://longbridge.com/zh-HK/quote/MGK.US.md)
- [SPY.US](https://longbridge.com/zh-HK/quote/SPY.US.md)
- [SCHG.US](https://longbridge.com/zh-HK/quote/SCHG.US.md)
- [IWF.US](https://longbridge.com/zh-HK/quote/IWF.US.md)
- [IUSG.US](https://longbridge.com/zh-HK/quote/IUSG.US.md)
- [IVV.US](https://longbridge.com/zh-HK/quote/IVV.US.md)
- [SPUU.US](https://longbridge.com/zh-HK/quote/SPUU.US.md)
- [SPXL.US](https://longbridge.com/zh-HK/quote/SPXL.US.md)
- [VUG.US](https://longbridge.com/zh-HK/quote/VUG.US.md)

## 相關資訊與研究

- [公債殖利率飆升，專家：恐將壓垮高估值股市](https://longbridge.com/zh-HK/news/287001514.md)
- [美國通膨壓不住？巴金示警：Fed 下一步不一定是降息](https://longbridge.com/zh-HK/news/287258650.md)
- [經貿磋商丨中美同意商對等降税安排 規模各為 300 億美元或更多](https://longbridge.com/zh-HK/news/287005126.md)
- [對沖基金趁芯片股強勁反彈獲利了結，但維持人工智能整體佈局](https://longbridge.com/zh-HK/news/287218042.md)
- [美國 SEC 下調門檻 旨在「讓 IPO 再次繁榮」｜美股](https://longbridge.com/zh-HK/news/287013583.md)