【每日晨读金融时报】05Sep2025 英语口语听力 附原文及实用单词短语

The gap between US com­pan­ies’ bor­row­ing costs and US Treas­ury yields has shrunk to its smal­lest since 1998, after a red-hot rally in global credit mar­kets that investors warn is under­play­ing threats to the world eco­nomy.The cost of bor­row­ing for invest­ment­grade com­pan­ies in US and Euro­zone credit mar­kets is 0.75 and 0.76 per­cent­age points above bench­mark gov­ern­ment bond yields, respect­ively, accord­ing to Ice BofA data. This took spreads in the two mar­kets — a proxy for the risk of default — on Fri­day to their low­est levels since 1998 and 2018, respect­ively.Eas­ing trade ten­sions after a num­ber of US deals with part­ners such as the EU have fed optim­ism that a worst-case scen­ario global trade war can be aver­ted, improv­ing the out­look for the cor­por­ate sec­tor.But investors warn the sharp rally in credit is another sig­nal, after stocks reboun­ded to record highs, that mar­ket optim­ism has become over­stretched at a time when US tar­iffs are climb­ing to their highest since the 1930s and jobs data has worsened.

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