油价与美债收益率齐升，美股自高位回落，市场押注联储年内再加息
美国股市从纪录高位回落。周三（10月7日）收盘，标普500指数跌0.22%至7,801.77点，纳斯达克综合指数跌0.22%至27,538.69点，道琼斯指数跌0.66%；周四盘前，三大股指期货继续走低。压市的主要是债市与油价：指标10年期美债收益率升至5.34%，周三盘中一度触及5.365%，为2002年以来最高；布伦特原油跳涨逾4%，海湾航运遇袭叠加飓风影响美国海上油气生产，推高能源价格。
收益率走高，源于通胀担忧重燃。美联储9月会议纪要显示，多数官员认为年内再加息一次可能是合适的；理事沃勒也表示，进一步加息可能仍有必要，但节奏可以灵活。市场随之把下一次加息的押注从10月推向12月。
对在美华人投资者来说，眼下是高油价、高收益率与高估值并存的环境：借贷成本抬升，对科技与成长股的压力最直接，年底前联储动向与油价仍是市场主线。（以上为10月8日美东时段数据。GSM 据路透社报道摘编）
Oil and Yields Climb, Stocks Slip From Records as Markets Price Another Fed Hike
U.S. stocks are pulling back from record highs. At Wednesday's close (Oct. 7), the S&P 500 fell 0.22% to 7,801.77, the Nasdaq Composite lost 0.22% to 27,538.69 and the Dow Jones Industrial Average dropped 0.66%, and index futures kept sliding in Thursday's premarket session. The pressure comes from bonds and oil: the benchmark 10-year Treasury yield climbed to 5.34% after touching 5.365% intraday on Wednesday, its highest since 2002, while Brent crude jumped more than 4% as attacks on Gulf shipping and a hurricane disrupting U.S. offshore output pushed energy prices higher.
Yields are rising because inflation worries are back. Minutes of the Federal Reserve's September meeting showed most officials judged one more rate hike this year would likely be appropriate, and Governor Christopher Waller said further increases may still be needed, though the pace can be flexible. Traders have since shifted their bets for the next hike from October toward December.
For Chinese-American investors, the setup is high oil prices, high yields and high valuations at once: pricier borrowing squeezes growth and technology shares first, and the Fed's year-end path and the oil price remain the market's main story lines. (Figures as of the U.S. session on Oct. 8. GSM summary of Reuters reporting.)
图片来源：图片来源：Billie-Grace Ward（CC0，Wikimedia Commons）/ Billie-Grace Ward, CC0 (Wikimedia Commons)