贝莱德（BlackRock）：2026年第三季度固定收益市场展望报告（英文版）

The path of the U.S. economy and markets has been strikingly uneven over the past year, but despite the volatility, the underlying picture remains broadly constructive. It is easy to forget that in early 2025, markets priced nearly 70% odds of a recession by year-end.1 Instead, recession fears faded and economic activity proved far more resilient than expected. A key driver of that resilience has been the AI investment boom. Hyper-scaler capital expenditures have grown nearly 80% year over ye