布伦特:现货升水缓冲风险资产——德意志银行
德意志银行的亨利·艾伦指出,尽管伊朗冲突和长期油价上涨,风险资产和股票依然保持韧性,因为布伦特曲线仍处于严重倒挂状态。

德意志银行的亨利·艾伦指出,尽管伊朗冲突和长期油价上涨,风险资产和股票依然保持韧性,因为布伦特原油曲线仍处于严重的倒挂状态。他认为市场仍将油价冲击视为暂时现象,6个月期布伦特原油期货价格仅略高于90美元/桶,暂时限制了更深层次抛售的可能性。

倒挂曲线显示油价冲击为暂时现象

“事实上,昨日2026年12月的油价期货创下新的盘中高点,而政府债券收益率也在多年来的高位附近交易。”

“相比之下,今日油价曲线依然严重倒挂——短期期货与6个月期货之间的价差持续保持在高位。”

“无论最终是否证明正确,这些预期反映了市场相信这将是一次暂时的冲击,因此风险资产表现出韧性。”

“即便如此,6个月期布伦特原油期货价格仍仅略高于90美元/桶,且能源强度的下降意味着当前油价水平不会像过去那样引发经济冲击。”

(本文由人工智能工具协助生成,编辑审核。)

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