安信证券--旬度经济观察:利率的调整或难成趋势【宏观研究】

金融界2020-05-11

【研究报告内容摘要】4月出口的超预期回升,既有基数效应的影响,又受到疫情防控物品需求激增的推升。随着上述影响的消退,海外需求的大幅下滑将对我国2季度出口形成拖累。内需的恢复、出口的超预期回升导致债市出现大幅调整。未来全球经济的缓慢恢复以及央行的货币政策选择,将使得全球和我国的中长期利率易下难上,短期之内难言趋势反转。近期美元指数维持较高水平,可能与美元流动性尚未彻底解除有关。这也与欧洲、日本...

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