瑞銀財管CIO將美元評級下調至「不具吸引力」 金價回調呈增配時機
瑞銀財富管理亞太區投資總監(CIO)辦公室發表報告,該行本月將美元評級下調至「不具吸引力」。雖然美元近期企穩,但隨著美國經濟放緩以及對財政赤字的關注度上升,該行預計美元將再次走軟。投資者可以考慮利用美元短期走強之機,將多餘的美元現金分散配置到其他貨幣。
該行指,美國償債能力良好,信用品質優異,國債仍被視為避險和低收益率美元資產。全球央行也繼續看重美國國債市場的優秀流動性。鑒於美國資本市場的實力、美元的儲備貨幣地位以及美國家庭持有的大量財富,因此仍對美國的償債能力充滿信心。
該行指,特朗普政府對債券收益率上升敏感。上個月30年期美債收益率短暫觸及5%,隨後特朗普暫緩了對等關稅。這表明特朗普政府對市場壓力相當敏感,金融市場的不利波動可能會導致美國政府採取行動。
另外,該行維持較早前公布至明年第一季金價達每安士3,500美元的預測,認為與近期金價的回調是增配戰略敞口的好時機,投資者可以考慮配置5%左右的黃金。
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