特朗普宣布对伊朗发动最严厉经济行动，美债市场波动加剧
US Wages Economic War on Iran | Radio Balance of Power: Early Edition 8/20/2026
特朗普宣布对伊朗实施最严厉经济行动，并预告财长周一公布细节，涉及二级关税、影子舰队等具体措施，是影响地缘与油价、值得密切跟踪的重大政策动向。
LIVE FROM WASHINGTON DC, THIS IS BALANCE OF POWER WITH JOE MATHIEU AND KAILEY LEINZ.
来自华盛顿的现场直播，这里是乔·马蒂厄和凯莉·莱因茨主持的《权力平衡》节目。
PRESIDENT TRUMP SAYS THE U.S. IS WAGING ECONOMIC WARFARE AGAINST IRAN WHILE THE TREASURY SECRETARY WAGES A WAR OF HIS OWN AGAINST HIGHER LONG-TERM RATES. WELCOME TO BALANCE OF POWER. I'M KAILEY LEINZ IN WASHINGTON WHERE THE TREASURY SECRETARY SAYS HE WILL HOLD A PRESS CONFERENCE ON MONDAY ON THE ECONOMIC LEVERS THE U.S. IS GETTING READY TO POLL TO BRING TEHRAN TO HEAL. HE ALSO SUGGEST THE BIGGER BUYBACKS THE TREASURY ANNOUNCED COULD BE EVEN BIGGER LIMO WHAT WAS PRESCRIBED.
特朗普总统表示，美国正在对伊朗发动经济战，而财政部长则在对更高的长期利率发动自己的战争。欢迎收看《权力平衡》。我是凯莉·莱因茨，在华盛顿为您报道。财政部长表示，他将于周一就美国准备采取的经济杠杆举行新闻发布会，以迫使德黑兰屈服。他还暗示，财政部宣布的更大规模回购可能比规定的规模还要大。
WE WILL HAVE THE LATEST WITH TYLER KENDALL AS WELL AS ANALYSIS FROM ANNA ASHTON. YOU'LL HEAR AN IMPORTANT CONVERSATION TYLER HAD EARLIER WITH THE CHAIR OF THE CFTC. FIRST WE BEGIN WITH THE MARKETS. THE BOND MARKETS NOT DOING WHAT SCOTT BESSENT WOULD LIKE TO SEE THEM DO TODAY FOR THAT WE TURN.
我们将带来泰勒·肯德尔的最新报道以及安娜·阿什顿的分析。您将听到泰勒早些时候与商品期货交易委员会主席的重要对话。首先，我们从市场开始。债券市场今天的表现并非斯科特·贝森特所愿，为此我们转向报道。
LIVE FROM THE INTERACTIVE BROKERS STUDIO, BOND YIELDS STILL ON THE UPSWING. MOST OF THE PULLBACK THEY SAW THE PREVIOUS DAY AFTER THE TREASURY DEPARTMENT ANNOUNCED AN INTERVENTION EASING PRESSURE ON LONGER DEAL GOVERNMENT DEBT. MARKETS FOR YOU ALL DAY LONG AT BLOOMBERG RIGHT NOW. THE DOW WAS DOWN 409 POINTS. THE S&P IS DOWN BY 25 POINTS. THE NASDAQ IS DOWN BY 173. THE YIELD ON A 30 YEAR TREASURY BOND WHICH IS THE PRIMARY FOCUS OF THIS ACCELERATED BUYBACK RIGHT NOW IS UP FIVE BASIS POINTS.
在盈透证券工作室现场直播，债券收益率仍在上升。此前一天，在财政部宣布干预以缓解较长期政府债务压力后，收益率有所回落。彭博社全天为您报道市场动态。道琼斯指数下跌409点。标普500指数下跌25点。纳斯达克指数下跌173点。30年期国债收益率（这是此次加速回购的主要焦点）目前上升了5个基点。
THE TWO YEAR YIELD IS UP TO BASIS POINTS. THE 10 YEAR IS UP AT FIVE BASIS JUST LIKE THE 30 YEAR. THE DOLLAR WAS LITTLE CHANGED. BITCOIN TRADING UP $70,000 FOR THE FIRST TIME SINCE JUNE. BITCOIN AT $72,700. GOLD IS UP AT 23% OR 4005 HUNDRED 68. OIL IS MOVING HIGHER. BRENT CRUDE AT $93 A BARREL. WTI AT 87. STOCKS WE ARE WATCHING, MODERNA SHARES ARE PULLING BACK FOLLOWING YESTERDAY'S 177% RALLY. THE BIGGEST IN THE S&P IN THE PAST 25 YEARS.
两年期收益率上升至基点。10年期收益率上升5个基点，与30年期相同。美元基本持平。比特币自6月以来首次突破7万美元，交易价格在72,700美元。黄金上涨23%，报4,005.68美元。油价走高，布伦特原油报每桶93美元，WTI报87美元。我们关注的股票中，Moderna股价在昨日上涨177%（为标普500指数25年来最大涨幅）后出现回落。
THAT HAPPEN FOLLOWING HIGHLY SUCCESSFUL PHASE THREE TRIAL RESULTS ON MRNA BASED PERSONALIZED CANCER VACCINE. TODAY A DIFFERENT STORY. MODERNITY SHARES ARE DOWN 44 PERCENT. WALMART ALL ABOUT ROLLBACKS IN STORES. TODAY A ROLL BACK IN ITS STOCK AFTER IT SOUGHT SLOWEST U.S. SALES GROWTH IN SIX YEARS. QUARTERLY SHARES HIT 2.6 PERCENT IN THE SECOND QUARTER. LESS THAN WHAT WAS EXPECTED. WALMART RAISED ITS FULL-YEAR GUIDANCE FOR SALES ADJUSTED OPERATING INCOME.
此前，基于mRNA的个性化癌症疫苗三期试验结果非常成功。今天情况不同，Moderna股价下跌44%。沃尔玛在门店全面推行降价，今天其股价也出现回落，此前该公司美国销售增长创下六年来最慢。第二季度季度份额达到2.6%，低于预期。沃尔玛上调了全年销售调整后营业收入的指引。
WALMART SHARES ARE DOWN 10%. THE COFFEE GIANT IS JUST A LIMITED 100 FOUR ROLES AS PART OF RESTRUCTURING. LAYING OFF WORKERS WHO DECLINED TO RELOCATE TO ITS NEW NATIONAL OFFICE FROM SEATTLE. STARBUCKS SHARES RIGHT NOW ARE DOWN ONE AND A HALF PERCENT. FOR ON DEMAND NEWS, SUBSCRIBE TO BLOOMBERG NEWS WHEREVER YOU GET YOUR PODCASTS. THAT'S A BLOOMBERG BUSINESS FLASH. BACK TO BALANCE OF POWER WITH KAILEY LEINZ.
沃尔玛股价下跌10%。咖啡巨头只是重组中有限的一百个角色之一。裁掉拒绝从西雅图迁往新国家办公室的员工。星巴克股价目前下跌1.5%。如需按需新闻，请在获取播客的任何地方订阅彭博新闻。这是彭博商业快讯。回到凯莉·莱因兹主持的《权力平衡》节目。
SO MUCH TO WATCHING FINANCIAL MARKETS PLAYED THE BOND MARKET AND THE EQUITY MARKET INCREDIBLE TO SEE THIS MOVE ON WALMART. THE WORST DAY FOR THAT STOCK GOING BACK TO FEBRUARY OF 2024 PER THE WORST LEVEL SINCE NOVEMBER OF LAST YEAR ON THE BACK OF THAT WEAKER THAN EXPECTED PRINT. IN LARGE PART DUE TO THE DRUG NEGOTIATION OF THE ADMINISTRATION HAS BEEN ENGAGED IN. BUT STILL COULD SEND A SIGNAL ABOUT THE HEALTH OF THE U.S.
金融市场有很多值得关注的，债券市场和股票市场的表现令人难以置信，尤其是沃尔玛的这次波动。这是该股自2024年2月以来最糟糕的一天，也是自去年11月以来的最低水平，原因是业绩低于预期。很大程度上是由于政府参与的药品谈判。但这仍可能发出关于美国消费者和整体经济健康状况的信号，特朗普总统反复声称经济表现良好。
CONSUMER AND THE ECONOMY OVERALL WHICH PRESIDENT TRUMP REPEATEDLY CONTENDS IS DOING GREAT. AT THE SAME TIME HE HAS SAID IRAN'S ECONOMY IS SUFFERING HIGHER INFLATION RATES AND A WEAKER CURRENCY DUE TO THE U.S. NAVAL BLOCKADE THAT IS STILL MAINTAINING IN THE STRAIT OF HORMUZ. THE STRAIGHT WHICH THE PRESIDENT SAYS IS STILL ENTIRELY IN U.S. CONTROL.
与此同时，他表示，由于美国仍在霍尔木兹海峡维持的海军封锁，伊朗经济正遭受更高的通胀率和更疲软的货币。总统表示，该海峡仍完全在美国控制之下。
WE CAN'T LET IRAN HAVE A NUCLEAR WEAPON. WE HAVE POSSESSION, A COMPLETE CONTROL. A LOT OF OIL COMING OUT. IT'S NOT GOING TO BE PERFECT, BUT IT IS A LOT OPENING UP. KAILEY: THE PRESIDENT GETTING READY TO GO EVEN FURTHER THAN JUST A BLOCKADE. IF YOU TAKE THEM AT FACE VALUE -- AT FACE VALUE ANNOUNCING PERHAPS WHAT HE DESCRIBES AS AN ECONOMIC D-DAY AGAINST IRAN WRITING NO ONE HAS GIVEN THE ISLAMIC REPUBLIC OF IRAN A GREATER OPPORTUNITY TO MAKE A DEAL THAN ME.
我们不能让伊朗拥有核武器。我们拥有控制权，完全控制。大量石油正在流出。不会完美，但确实开放了很多。凯莉：总统准备采取比封锁更进一步的动作。如果你按表面意思理解——按表面意思宣布他可能描述为对伊朗的经济“D日”，写道没有人比我给伊朗伊斯兰共和国更大的达成协议的机会。
TRAGICALLY THEY FAILED TO TAKE IT. THEREFORE I AM ANNOUNCING THE MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY. SO WHAT EXACTLY WILL THAT LOOK LIKE? OUR WASHINGTON CORRESPONDENT IS HERE WITH ME IN THE D.C. STUDIO. THE MOST CRUSHING ECONOMIC OPERATION EVER TAKEN. THAT OPERATION WOULD ENTAIL. TYLER: WE ARE WAITING ON THAT INFORMATION. WE WILL HAVE TO SEE PAID ON MONDAY WE LIKELY WILL GET SOME FURTHER DETAILS.
不幸的是，他们未能抓住这个机会。因此，我宣布对任何国家采取过的最严厉的经济行动。那么这具体会是什么样子？我们的华盛顿记者和我一起在华盛顿演播室。史上最严厉的经济行动。那项行动将包括什么。泰勒：我们正在等待相关信息。我们必须看到周一的情况，届时我们可能会获得更多细节。
THE USUAL -- U.S. TREASURY SECRETARY ANNOUNCED HE WILL HOLD A PRESS CONFERENCE FOCUSED ON WHAT THIS COULD ENTAIL. PRESIDENT TRUMP GAVE US A FEW CLUES. PEOPLE ARE PICKING UP ON THE FACT HE SAYS THIS WILL BE GEARED TOWARDS OTHER COUNTRIES. THOSE THAT HE SAYS ALLOW THEIR INSTITUTIONS TO SUPPLY ANY SORT OF LIFELINE TO IRAN. HE OUTLINED INCLUDING CASH TRANSFERS SWAPS, OR ANY AVENUES TO SMUGGLE ITS OIL OUT. THAT IS WHAT EVERYONE IS PICKING UP ON.
通常情况——美国财政部长宣布将举行新闻发布会，重点讨论这可能涉及的内容。特朗普总统给了我们一些线索。人们注意到他说这将针对其他国家，那些他声称允许其机构向伊朗提供任何形式生命线的国家。他概述了包括现金转账、互换，或任何走私石油的途径。这就是大家都在关注的点。
ADDING YOU KNOW WHO YOU ARE. THAT IS RAISING QUESTIONS ON WHETHER OR NOT THE U.S. IS GOING TO MORE STRONGLY TARGET CHINESE PURCHASES OF IRANIAN CRUDE. THOUGH THAT IN AND OF ITSELF HAS A RISK TO IT. THE BEIJING WASHINGTON TRUCE ALONG WITH THE CHINESE PRESIDENT XI JINPING COMING HERE TO D.C.. A FEW OTHER THINGS WE ARE TRACKING THEIR ON OUR LIST OF POTENTIAL WAYS THE U.S. MAY EXERT ECONOMIC PRESSURE. SOME MORE TARGETED ACTIONS AGAINST THE SO-CALLED SHADOW FLEET THAT MOVES THE OIL FOR IRAN.
他还说‘你们知道你们是谁’。这引发了疑问，即美国是否会更强烈地针对中国购买伊朗原油。尽管这本身就有风险。北京与华盛顿的休战，以及中国国家主席习近平来到华盛顿特区。我们还在追踪其他一些可能的美国施加经济压力的方式。针对所谓为伊朗运输石油的‘影子舰队’采取更有针对性的行动。
WE COULD SEE THE U.S. MOVE TO TRY TO SEIZE FROZEN ASSETS THAT ARE WITHIN THEIR JURISDICTION THOUGH SPEAKING WITH ONE ANALYST WHO SAYS THIS MAY BE EASIER SAID THAN DONE. EVEN IF IT'S IN U.S. JURISDICTION ENOUGH TO GET THIRD-PARTY COUNTRIES INVOLVED. BUT IT IS SOMETHING TO WATCH AGAINST THE BACKGROUND THE PRESIDENT HAS ALREADY THREATENED SECONDARY TARIFFS, 20 5% ON ANY COUNTRY THAT DOES BUSINESS WITH IRAN. WHETHER HE FOLLOWS THROUGH THAT REMAINS TO BE SEEN.
我们可能会看到美国试图没收其管辖范围内的冻结资产，尽管与一位分析师交谈后，他说这可能说起来容易做起来难。即使在美国管辖范围内，也足以让第三方国家卷入。但这是值得关注的事情，背景是总统已经威胁要对任何与伊朗做生意的国家征收二级关税，20%至5%。他是否会兑现，还有待观察。
KAILEY: WE WILL HAVE TO WAIT AND SEE FROM THE TREASURY SECRETARY ON MONDAY. WE ARE HEARING FROM THE TREASURY SECRETARY ABOUT A SEPARATE ISSUE TODAY. ONCE AGAIN TRYING TO TALK DOWN LONG AND RATES SUGGESTING THE TREASURY COULD BE BUYING MORE LONG-TERM DEBT THAN ANNOUNCED. HE ESSENTIALLY SAYS HE'S TRYING TO BRING THE MARKET BACK TO EQUILIBRIUM. HE TOLD REPORTERS THIS AT THE WHITE HOUSE EARLIER.
凯莉：我们得等到周一财政部长那里看情况。今天我们听到财政部长就另一个问题发表讲话。他再次试图压低长期利率，暗示财政部可能购买比宣布的更多的长期债务。他基本上说，他正试图让市场回到平衡状态。他早些时候在白宫对记者说了这些。
ANYTHING THAT HAPPENS WITHIN 24 HOURS IS NOISE. ONCE THE MARKET UNDERSTANDS IT, FISCAL CONSOLIDATION AND WE ARE TRYING TO BRING THE MARKET BACK INTO EQUILIBRIUM IN A THINLY TRADED MARKET I THINK I AM CONFIDENT THE BONDS WILL CONTINUE TO CLIMB.
24小时内发生的任何事情都是噪音。一旦市场理解了这一点，财政整顿，我们正试图在一个交易清淡的市场中让市场回到平衡状态，我相信债券将继续攀升。
KAILEY: YOU ARE AT THE WHITE HOUSE YESTERDAY WHEN THE PRESIDENT WAS ASKED OF AMERICAN SHOULD BE CONCERNED ABOUT VOLATILITY IN THE BOND MARKET. HIS ANSWER WAS NO YET THE TREASURY SECRETARY SEEMS TO BE SUGGESTING HE IS A LITTLE CONCERNED. TYLER: AND WILLING TO TAKE ADDITIONAL ACTION AS WELL AS SAYING THE ADMINISTRATION WILL BE UNVEILING A NEW FISCAL INITIATIVE TO ADDRESS BORROWING COSTS. THIS IS BECOMING A POLITICALLY FRAUGHT ISSUE HERE IN WASHINGTON AS FINANCING COSTS MAKE THEIR WAY THROUGH TO THE BROADER ECONOMY.
凯莉：昨天总统在白宫被问及美国是否应关注债券市场的波动时，他的回答是否定的，但财政部长似乎暗示他有些担忧。泰勒：并且愿意采取额外行动，同时表示政府将推出一项新的财政举措来应对借贷成本。随着融资成本传导至更广泛的经济领域，这正在华盛顿成为一个政治敏感问题。
WE ARE SEEING MORTGAGE RATES HIT THEIR HIGHEST LEVEL SINCE JULY OF 2025. WE PICKED UP ON THIS QUOTE FROM THE TREASURY SECRETARY SAYING ALL WE ARE TRYING TO DO IS GET PEOPLE FOCUSED ON THE FUNDAMENTALS AND NOT TRADE THE HEADLINES. HE DIDN'T SPECIFY WHAT THE PUSH WOULD REFER TO. YESTERDAY WE GOT ONE IN TERMS OF THE DEBT LOAD. $30 TRILLION. IF WE GOT TO SOME OF THAT TREASURY DEPARTMENT DATA INCLUDING A RECORD JULY BUDGET DEFICIT FUELED BY A SURGE IN MEDICARE COSTS AND SOCIAL SECURITY AS WELL AS THE INTEREST WE PAY ON THAT DEBT.
我们看到抵押贷款利率达到了2025年7月以来的最高水平。我们注意到财政部长的一句话，他说我们只是想让大家关注基本面，而不是炒作头条新闻。他没有具体说明推动措施会涉及什么。昨天我们在债务负担方面得到了一个数据：30万亿美元。如果我们查看财政部的一些数据，包括7月创纪录的预算赤字，这主要是由医疗保险费用和社会保障支出激增以及我们为债务支付的利息所推动的。
BUT WE DON'T NEED TO TELL YOU IT IS POLITICALLY DIFFICULT RIGHT NOW IN WASHINGTON TO CUT SPENDING ESPECIALLY DURING AN ELECTION YEAR.
但我们无需告诉你，目前在华盛顿削减开支在政治上很困难，尤其是在选举年。
SCOTT BESSENT BLAMED THIS IN PART THE BLOOD OF THE CHAIR OF REVENUE THEY WERE COUNTING ON ISN'T COMING IN BECAUSE OF THE SUPREME COURT DECISION AND REFUNDS. ARE WE ABOUT TO GET MORE TERROR OF REVENUE FROM CANADA OR NOT? TYLER: JAMIESON GREER IS MEETING WITH HIS CANADIAN COUNTERPART. I'M NOT SURE IF WE ARE GETTING HEADLINES ON IT YET BUT WE ARE WAITING FOR THIS FINALIZED A DEAL. WE HAVE REPORTING IT LOOKS LIKE WE WILL SEE LO
斯科特·贝森特将此部分归咎于他们指望的收入来源因最高法院的裁决和退税而没有到位。我们是否会从加拿大获得更多收入，还是不会？泰勒：杰米森·格里尔正在与加拿大对应官员会面。我不确定我们是否已经得到相关头条新闻，但我们正在等待这笔交易最终敲定。根据我们的报道，看起来我们会看到……
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更进一步：量化金融体系
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