特朗普關稅憂慮引發外資搶購日本長期國債 創歷史新高
路透社記者Kevin Buckland報導——隨著美國總統特朗普推動激進關稅措施，市場對美國經濟衰退的擔憂升溫，資金紛紛從美國債券撤出，尋求其他避險資產。上月，日本最長期的政府債券（JGB）吸引了創紀錄的外資買盤。
根據日本證券業協會於周一公布的數據，3月份海外投資者買入了總值約2.18兆日圓（約合154.9億美元）、期限超過10年的日本國債，為自2004年4月開始統計以來的最高紀錄。
特朗普在3月期間不斷加重關稅負擔，包括對汽車及零件徵收25%關稅，並於4月2日宣布一系列廣泛關稅措施，導致全球市場大幅震盪。
與此同時，日本本地保險公司在日本財政年度結束時調整投資組合，拋售了創紀錄的6,458億日圓超長期國債。瑞穗證券首席策略師大森翔輝指出，這是因為他們必須重新配置資產。
由於全球貿易環境不明朗，日本銀行（BOJ）短期內加息的預期減弱，也為外資買入日本國債提供了便利。大森說。
截至周一，30年期日本國債殖利率為2.76%。過去四周，殖利率隨著關稅消息波動劇烈，4月7日一度跌至自去年10月以來最低的2.195%，隨後一周內又飆升至20年來高點2.845%。
整個3月份，30年期殖利率上升約17個基點，至2.52%，並在月中觸及19年高點2.63%，隨後因市場波動加劇而開始回落。
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編者觀點：日債市場的避險魅力與全球經濟風險的交織
這次外資憑藉對美國經濟前景的不確定性，轉向日本長期國債，不僅反映了全球避險情緒的升溫，也凸顯出日本債券市場的獨特吸引力。儘管日本長期以來面對低利率及經濟增長疲軟的挑戰，但在全球貿易摩擦和地緣政治風險升高的背景下，日債的穩定性和安全性使其成為資金的避風港。
然而，值得注意的是，這種資金流動也可能加劇日本國債市場的波動，尤其是在美國政策變動頻繁的情況下。對日本而言，如何在吸引外資與維持市場穩定之間取得平衡，是未來金融政策制定的重要課題。
此外，特朗普的關稅策略雖然短期內激發避險需求，但長遠看來可能引發全球經濟放緩甚至衰退，屆時包括日本在內的多個市場都將面臨挑戰。投資者應持續關注全球貿易政策走向及日本國內經濟基本面，審慎評估投資風險與回報。
總結來說，這波對日本長期國債的熱烈追捧，不僅是對美國政策不確定性的反應，更是全球資本在尋求安全與收益之間微妙平衡的縮影。未來市場走勢仍有極大變數，投資者需保持警覺，靈活應對。
以上文章由特價GPT API KEY所翻譯及撰寫。
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![{
"intro": "Create an ultra realistic 8K UHD DSLR photo based on the attached image as a reference of facial features, maintaining 100% likeness.",
"subject": {
"identity": "A stylish beautiful woman portrayed as Cleopatra performing a sacred night-time royal dance, embodying divine seduction, power, and celestial authority.",
"angle": "Full-body high-fashion editorial portrait captured at a cinematic 3/4 angle, ultra-crisp clarity with no blur.",
"pose": {
"body_position": "She is captured mid-dance inside a temple courtyard at night, her body angled gracefully, hips grounded, torso lifted, creating a powerful and sensual silhouette.",
"movement": "Her arms are raised in slow ceremonial motion while one leg steps forward, fully revealing her feet and lower legs as part of the ritual stance.",
"expression": "A calm, hypnotic, commanding gaze directed toward the camera—quiet dominance wrapped in sensual mystery."
}
},
"appearance": {
"outfit": "An ultra-bongga Cleopatra couture gown with an all-crystal bodice that fits like jeweled armor. Thousands of hand-set crystals, diamonds, and glass stones in gold, champagne, clear, and iridescent tones form sacred Egyptian motifs—cobras, sun disks, lotus symbols—entirely through crystal placement. The neckline is daring yet elegant, supported by invisible illusion mesh. From the waist, the skirt opens into flowing sheer silk and organza panels in ivory and soft gold, designed with a high front opening that intentionally exposes her legs and feet during movement. Crystal chains and beaded fringe sway rhythmically with every step, enhancing sensual motion.",
"accessories": "A dramatic Egyptian ceremonial headpiece with gold and crystal detailing, an oversized layered gold collar necklace, sculpted crystal arm cuffs, finger armor rings, a crystal-and-gold waist belt, and delicate gold anklets accentuating her bare feet.",
"hair": "Her hair is sleek, glossy, and perfectly controlled, styled to balance the weight of the crystal headpiece while allowing elegant movement.",
"makeup": "Ultra-glam, colorful Egyptian night makeup—bold elongated black kohl eyeliner, intense eyeshadow layered in turquoise, emerald, sapphire blue, violet, and metallic gold. Beneath the eyes, intricate ceremonial ink drawings in fine black and gold lines inspired by ancient Egyptian markings. Skin is luminous with molten-gold highlights, brows strong and defined, lips finished in a sensual nude-bronze satin."
},
"props": {
"ritual_elements": [
"Burning incense bowls releasing thick aromatic smoke",
"Golden sistrum placed near the dance space",
"Tall ceremonial torches lining the temple floor"
]
},
"background": {
"macro_environment": "A grand ancient Egyptian temple courtyard at night, reserved for sacred royal rituals.",
"midground_details": "Towering sandstone columns, massive statues of Isis and Hathor, carved temple walls, flowing linen drapes, and ceremonial platforms illuminated by firelight.",
"micro_elements": "Torch flames reflecting off crystal surfaces, fine dust particles glowing in the night air, incense smoke wrapping around her legs and feet, detailed stone floor textures beneath her bare feet, crystal fringe in motion, and sharply defined shadows—everything rendered in extreme detail with zero blur."
},
"lighting": {
"type": "Cinematic night lighting using torches, oil lamps, and subtle moonlight.",
"effect": "Firelight ignites the crystal bodice with prismatic sparkle while moonlight softly outlines her legs and feet, creating a dramatic, sensual, and divine atmosphere."
},
"camera": {
"camera_type": "DSLR",
"resolution": "8K UHD",
"lens": "50mm prime lens",
"aperture": "f/8 for full-body and environment sharpness",
"iso": 100,
"shutter_speed": "1/200s to freeze elegant motion clearly",
"focus": "Extreme sharp focus on crystal bodice, facial features, legs, feet, and temple details, no bokeh, no blur"
},
"style": "Ultra high-fashion editorial, night temple ritual, all-crystal couture, sexy yet sacred, ancient Egyptian royalty reimagined, cinematic realism, extremely detailed, sharp, iconic"
}](https://ssfuture.shop/wp-content/uploads/ai_gen_1766006158-167x300.png)
