亚洲外汇观察 · 中欧贸易谈判成为焦点

关键论点

• 中国央行正式驳斥IMF和市场关于人民币被低估的说法，表示中国无需也无意通过贬值获取竞争优势。
• 中国央行认为汇率调整无法解决结构性失衡，问题根源在于全球储蓄与需求缺口以及高财政赤字。
• 美国国债收益率因30年期拍卖需求稳健而下降；科技和半导体股因OpenAI营收不及预期和美国签证限制而走弱。
• 亚洲宏观仍具韧性，但主要风险在于欧盟是否实施德法讨论的贸易保障措施。

对应原文证据

1. 1 Asia FX Talk │9 October 2026 Asia FX Talk China-EU trade talks key focus 9 October 2026 Market Highlights US Treasury bonds rallied, tech stocks fell, while the Dollar was somewhat weaker, with a strong 30-year Treasury auction, curbs on visas by the Trump administration and lower than expected reported revenues by OpenAI key drivers of these market moves. · October 2026
2. In particular, we saw lower yields across the US Treasury curve as a 30-year bond auction met with solid demand, with a decent bid- to-cover ratio of 2.54 (higher than the average of 2.41 times over the last 6 auctions), while indirect bids which includes foreign investors took 72% of the supply up from 69% over the last 6 auctions.
3. This could potentially have some impact on countries such as India and Indian IT firms as well, given the importance of H-1B visas for IT outsourcing work in the US, although we note that this reliance has generally fallen over time.