每日：韧性增长应能稳定市场

关键论点

• 经济增长稳健且初请失业金人数处于低位，表明经济基础扎实，股票可承受适度更高的收益率。
• 核心通胀正在回落：3个月年化核心PCE降至2.05%，但ISM支付价格升至77.9提示风险。
• 近期美联储表态更耐心，杰斐逊、鲍曼和威廉姆斯均强调不急于行动；瑞银预计12月再加息一次，而非长期紧缩周期。
• 瑞银建议通过广泛的行业和区域分散配置来把握股票进一步上涨，同时管理集中度风险。

对应原文证据

1. The 10-year Treasury yield initially climbed to 5.34%, its highest intraday level since 2002, after manufacturing activity remained firmly in expansion and initial unemployment claims fell to a 10-week low. · 2002
2. The yield subsequently reversed course and ended around 4 basis points lower at 5.24%, as comments from senior Fed officials indicated that policymakers were not in a hurry to raise rates again.
3. But we think employment conditions, the broader inflation trend, and a more patient Fed should enable equities to withstand moderately higher rates.