摩根大通：2024全球投资展望报告-利率重置后：投资重新配置（英文版）

Today, negative yielding debt has all but disappeared. Over half of the developed world’s sovereign debt trades with a yield higher than 4%, and U.S. Treasury yields across the curve, from 3-month bills to 30-year bonds, range from ~4.5% to 5.5%. The rise in global bond yields is not just historic—it marks the most important development in markets since the world emerged from the COVID-19 pandemic.