市场快评 - 芯片制造商大跌，十年期收益率跌破5

关键论点

• 市场质疑AI投资回报，拖累大型科技股与半导体股，资金流向美债。
• 沙特基础设施遭袭及美国可能再度打击伊朗推升供应风险，但海湾出口仍接近战前水平。
• 黄金下跌源于技术与动能性平仓，其影响压过避险需求与债券上涨的支撑。
• 美国对精炼铜关税的决定可能释放美国库存，缓解全球供应紧张。

对应原文证据

1. • Macro: US Treasuries rally, US jobless claims fell and Japanese inflation picked up • Equities: US equities fell sharply as concerns over AI spending and rising oil prices weighed on technology stocks and global sentiment.
2. • Volatility: Index gauges jumped right across the curve with the one-day measure rising by a third • Digital Assets: Tokens firmed overnight while the listed crypto shares and the miners were sold heavily • Commodities: Oil climbs on Middle East tensions as gold and copper extend losses • Fixed Income: Huge US treasury rally on risk sentiment shift.
3. • Currencies: JPY, CHF and NOK advance, USD sideways • US Treasuries staged their strongest rally in more than two years as an AI-led equity selloff, French market turmoil and renewed Middle East tensions drove safe-haven demand.