特朗普税改计划再出新招
特朗普在去年11月意外当选美国总统后，“再通胀”或“特朗普通胀”交易推动金融市场。9月27日这类交易卷土重来，因特朗普公布了承诺已久的税改计划，这重燃了市场将受惠于经济加速成长和通胀的押注。
特朗普和共和党领袖宣布的税改计划，将调降个人最高税率和企业税率，但关于如何在不会大幅推高联邦赤字的情况下为减税买单的细节内容却不是很明确。
股市和美元上涨，因看好较低的税率将可刺激经济成长；债券收益率则走升，因担心更多联邦借款来支应政府更大赤字所造成的通胀压力。美元指数隔夜触及一个月高位93.20。美股接近其历史高位，美国10年期国债收益率升至8月初以来最高水准。
但税改计划前景依然笼罩着不确定性，这可能会导致再通胀交易模式的复出来得快、去得也快。该计划在起草过程中并未征询民主党的意见，他们对该计划抱有敌意，而且共和党本身对该计划也存在分歧。
一些投资者表示，美联储主席耶伦周二有关进一步加息的暗示，至少与税改计划同样推高了美元和美债收益率。
分析师表示，美元、美债收益率和美股短线可能上扬，这种趋势可能最终只是对经济形势过度悲观的相关仓位发生逆转造成的。
本文来源： 大田环球贵金属
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