12399456https://www.upal.com.my/zh/feeds/jobFeedKwongwahArray ( [0] => HTTP/1.1 200 OK [1] => Date: Sat, 04 Oct 2025 05:30:08 GMT [2] => Content-Type: text/xml; charset=utf-8 [3] => Connection: close [4] => Cache-Control: no-cache, private [5] => Cache-Control: no-cache, no-store, must-revalidate [6] => Nel: {"report_to":"cf-nel","success_fraction":0.0,"max_age":604800} [7] => x-frame-options: SAMEORIGIN [8] => x-content-type-options: nosniff [9] => x-xss-protection: 1; mode=block [10] => referrer-policy: strict-origin-when-cross-origin [11] => permissions-policy: geolocation=(), microphone=(), camera=() [12] => content-security-policy: default-src * 'unsafe-inline' 'unsafe-eval' data: blob:; script-src * 'unsafe-inline' 'unsafe-eval' data: blob:; style-src * 'unsafe-inline' data:; img-src * data: blob:; font-src * data:; connect-src *; frame-src *; object-src *; media-src *; child-src *; [13] => Server: cloudflare [14] => x-robots-tag: noindex, nofollow, nosnippet, noarchive [15] => strict-transport-security: max-age=31536000; includeSubDomains; preload [16] => expires: Sun, 05 Oct 2025 05:30:08 GMT [17] => vary: Accept-Encoding [18] => Report-To: {"group":"cf-nel","max_age":604800,"endpoints":[{"url":"https://a.nel.cloudflare.com/report/v4?s=C6nuChFE6F7XdsZwkic2rJi31JmdVf2v9BCfiYZ%2FJ8zmg1X841v9YkXzHi%2FoAH3DQw%2F8yNy3Lm6FwcKUdIUnspwwQfAbSlCMCOnIi%2BY%3D"}]} [19] => cf-cache-status: DYNAMIC [20] => Speculation-Rules: "/cdn-cgi/speculation" [21] => Server-Timing: cfCacheStatus;desc="DYNAMIC" [22] => Server-Timing: cfEdge;dur=4,cfOrigin;dur=87 [23] => Set-Cookie: UpalLiveSession=eyJpdiI6IkwyazBlYmhVdXZ4dnRFSDV2Kzl0dUE9PSIsInZhbHVlIjoickdRMkpHUW9HTUNteGpmU0dCWUVMcjQwSWtoc3hOekMwczduRVZzUzdON2lqN1wvTUF4eHh1YkUzNWVZTUlmcDlEWTlIK0tJeDBOM29ETzhjTGYwTk9BPT0iLCJtYWMiOiJlZTEzMDQ0MjM3YjFiNDhiN2NmMmE1MjVlYzlhMTcyZWIyMDAxM2QyMWExZDk2ZmRlZmE1ZjIxYWI5OWExMzAyIn0%3D; HttpOnly; Path=/; Max-Age=94608000; Expires=Tue, 03 Oct 2028 05:30:08 GMT [24] => CF-RAY: 989249191fe13e75-KUL [25] => alt-svc: h3=":443"; ma=86400 ) 789

美国银行的策略师表示，最有可能引发美国经济在2020年代下滑的催化剂将是当前债市的泡沫消退。

策略师Tommy Ricketts和Michael Hartnett等周一在报告中指出逾11兆美元债券的收益率为负，德国/瑞士国债收益率曲线为负，奥地利100年期国债收益率约为1%，以及全球收益率刚脱离最低纪录点。

未来几年，各央行像“推绳子”一样徒劳无功，这种“政策无能”趋势的开始，将是可能导致利率波动性上升的一个因素，结束长达十年的“最低利率-最高利润”看涨组合，并且暗示“资产价格的大顶”。

另一个因素将是政策失误，如现代货币理论的实施，即政府发债直至通膨上升。
美国银行建议通过黄金、美国国库券、实质资产而非金融资产对冲债市泡沫破裂的情形。