2026年9月9日 / 美国东部时间下午3:20 / CBS News MoneyWatch
作者：梅根·塞鲁洛 MoneyWatch记者
美国财政部长斯科特·贝森特周三表示，财政部将至多购买60亿美元长期国债，以此作为抑制收益率上升、降低借贷成本计划的一部分。
财政部上月承诺将债券回购规模“至少”翻倍至40亿美元，以支撑债券价格。美国国债收益率上升会推高消费者和企业的借贷成本，同时也可能对股价造成压力。
琼斯交易公司首席市场策略师迈克·奥鲁克对CBS新闻表示：“他们正在回购那些已发行一段时间、在市场中占比较小的债券，但财政部认为这将遏制20年期至30年期国债收益率的上涨，同时也会给10年期国债收益率带来下行压力。”
奥鲁克补充道，美国政府债务不断增加是推高债券收益率的主要诱因。美国国债规模在不到十年的时间里翻了一番，今年8月已突破40万亿美元。
他说：“如果想要控制住美国国债收益率，就必须从根源上解决这个问题。但我们现在只是在市场外围修修补补，这算不上真正的解决方案。”
通常会影响抵押贷款利率的10年期美国国债收益率从周二尾盘的4.80%升至4.85%，达到2023年10月以来的最高点。而通常反映市场对美联储利率决策预期的2年期美国国债收益率从周二尾盘的4.39%升至4.42%。
债券收益率与价格呈反向相关关系，即收益率上升时，债券价格会下跌。收益率上升意味着投资者要求美国国债提供更高的回报。
其他华尔街分析师也对政府债券回购计划能否遏制收益率上升、降低借贷成本表示怀疑。
詹尼·蒙哥马利公司首席固定收益策略师盖伊·勒巴斯对美联社表示：“最简单的道理是，市场干预措施历来都收效甚微。”
Wrightson ICAP首席经济学家卢·克兰德尔表示，周三的债券回购操作让“这场猜测游戏又延续了一段时间”，因为截至11月4日的剩余六笔债券市场操作规模都将达到“40亿美元或更高”。
他在给CBS新闻的一份声明中表示：“市场可能会认为，9月24日的下一次30年期国债回购的最低可行规模将达到60亿美元，但我们可能要等到9月23日上午该操作的细节公布后才能得到确切消息。”
阿兰·谢特编辑
美联社对本文亦有贡献。
Feds to buy up to $6 billion in Treasury bonds in move to ease borrowing costs
September 9, 2026 / 3:20 PM EDT / CBS News MoneyWatch
By Megan Cerullo Reporter, MoneyWatch
U.S. Treasury Secretary Scott Bessent said on Wednesday that the agency will buy up to $6 billion in long-term government bonds as part of an effort to curb rising yields and ease borrowing costs.
The Treasury Department vowed last month to “at least” double its bond buybacks to $4 billion to prop up prices. Higher Treasury yields raise borrowing costs for consumers and businesses, and can also weigh on stock prices.
“They are repurchasing bonds that have been around for a while and are a smaller part of the market, but the Treasury thinks this will constrain 20- to 30-year yields from rising and put downward pressure on 10-year yields too,” Mike O’Rourke, chief market strategist at JonesTrading, told CBS News.
Rising U.S. government debt is the main catalyst driving up bond yields, O’Rourke added. The national debt surpassed $40 trillion in August after doubling in less than a decade.
“If you want to get Treasury yields under control, you would tackle that issue. Instead, we are tinkering on the periphery of the market, and that’s not a real solution,” he said.
The 10-year Treasury rate, which typically affects mortgage rates, rose to 4.85% from 4.80% late Tuesday, hitting its highest point since October 2023. The yield on the 2-year Treasury, which tends to track expectations for the Fed’s interest rate decisions, rose to 4.42% from 4.39% late Tuesday.
Bond yields are inversely related to prices, meaning that as yields rise, bond prices fall. Rising yields signal that investors are demanding higher returns on Treasurys.
Other Wall Street analysts also expressed doubt that the government’s bond buybacks would help contain yields and lower borrowing costs.
“The simplest version here is that market interventions have a long history of not working very well,” Guy LeBas, chief fixed-income strategist at Janney Montgomery, told the Associated Press.
Wrightson ICAP chief economist Lou Crandall said Wednesday’s bond-buyback operation keeps the “guessing game going a little while longer,” as the sizes of the remaining six bond-sector operations scheduled through Nov. 4 will be “$4 billion or more.”
“The market will likely assume that $6 billion will be the minimum probable size for the next 30-year buyback on September 24, but we may not actually know until the details of that operation are announced on the morning of September 23,” he said in a statement to CBS News.
Edited by Alain Sherter
The Associated Press contributed to this report.
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