10年期瑞士政府债券收益率接近0.40%，为5月20日以来的最高水平，因为围绕美中贸易谈判的乐观情绪降低了对传统安全的瑞士资产的需求。与此同时，投资者关注的焦点仍然是包括美联储和欧洲央行在内的主要央行的政策前景。在国内方面，最新的瑞士CPI和GDP数据提高了瑞士国家银行（SNB）在6月19日下次会议上降息25个基点的可能性。瑞士5月份CPI同比下降0.1%，跌破瑞士央行0-2%的目标区间，这是自2021年3月以来的首次通缩读数。与此同时，2025年第一季度GDP环比增长0.5%，高于第四季度向下修正的0.3%，但低于初步估计的0.7%。
The yield on the 10-year Swiss government bond was near 0.40%, its highest level since May 20, as optimism surrounding US-China trade talks reduced demand for the traditionally safe Swiss assets. Meanwhile, investor focus also remained on the policy outlook from major central banks, including the Federal Reserve and the ECB. On the domestic front, the latest Swiss CPI and GDP data raised the odds of Swiss National Bank (SNB) delivering a 25 basis point rate cut in next meeting on June 19. The Swiss CPI fell by 0.1% year-on-year in May, slipping below the SNB's 0-2% target range and marking the first deflationary reading since March 2021. Meanwhile, the GDP grew by 0.5% quarter-on-quarter in Q1 2025, improving from a downwardly revised 0.3% in Q4 but falling short of the preliminary 0.7% estimate.
