7月17日，在湖南长沙举行的2026年全国乒乓球锦标赛（双打）混双1/8淘汰赛中，王楚钦（北京八喜男一队）/孙颖莎（河北女一队）3比0战胜对手林高远（广东男一队）/刘炜珊（天津729女队），晋级八强。    NEW YORK -- The yield on the 10-year Treasury has reached 5% for the first time since 2007. That matters for everyone, not just Wall Street. Treasury yields have been climbing rapidly, with the 10-year yield rallying from less than 3.50% during the spring and from just 0.50% early in the pandemic. Monday morning, the yield on the 10-year Treasury was at 4.96% after hitting 5.02% earlier. The jump means the U.S. government must pay more to borrow money from investors to cover its spending.It also directly affects people around the world, because the 10-year Treasury yield is the centerpiece of the global financial system and helps set prices for all kinds of other loans and investments. Besides making it more expensive for U.S. homebuyers to buy a house with a mortgage, higher yields also put downward pressure on prices for everything from stocks to cryptocurrencies. Eventually, they could help cause companies to lay off more workers. Higher yields mark a sharp turnaround for a generation of consumers and investors who have known pretty much just low yields, as central banks kept benchmark interest rates pinned at nearly zero. Such low rates let people borrow money more easily, which helped economies to strengthen following the 2008 financial crisis, the European debt crisis and other maladies including, most recently, the COVID-19 pandemic. The low rates led to rising prices for houses, stocks and other investments, but they may also have encouraged too much risk-taking and spurred investment bubbles.Now, central banks are more concerned with getting high inflation under control. To do that, they raise interest rates and hope the higher costs to borrow will starve inflation of its fuel by bringing down spending. The Fed's main interest rate affects extremely short-term loans, those that banks charge overnight. The Fed has already pulled its federal funds rate to the highest level since 2001, and it's debating whether to hike it one more time. Either way, it's signaled plans to keep rates high for a while to successfully suffocate inflation. The 10-year Treasury yield has been catching up to the Fed's main interest rate after a string of reports has shown the U.S. economy remains remarkably resilient. While that calms worries about a possible recession caused by high rates, it could also keep upward pressure on inflation and shorter-term rates. Federal Reserve Chair Jerome Powell said Thursday that many other factors could be contributing to the swift rise in the 10-year Treasury yield. They include the U.S. government's big deficits, which require more federal borrowing, and the Fed's ongoing efforts to reduce its trove of bond investments built earlier to keep yields low. On the wonkier side, bond prices have also been falling in tandem with stock prices more often than they used to. That's unnerving for investors who usually see bonds as the safer part of their portfolios, and it could be pushing them to demand higher yields to own them.The rise in the 10-year Treasury yield most directly means the U.S. government has to pay more to borrow money for 10 years. But because the 10-year yield is the reference point for financial markets, it also quickly filters out into all kinds of loans. Even for companies with the best credit ratings, the interest rates they borrow at are set by adding some extra on top of whatever the U.S. government is paying for its Treasurys. Borrowers with worse credit ratings have to pay more extra than those seen as good bets to repay their debts.More expensive borrowing keep U.S. households from spending as much and companies from expanding as much, which should eventually hit overall U.S. economic activity. More immediately, because a 10-year Treasury is seen as one of the safest possible investments on the planet, its yield swiftly sways prices for all kinds of investments. When a super-safe Treasury is paying much more in interest, investors feel less need to pay high prices for a Big Tech stocks, cryptocurrency or other investment that carries more risk. It's a big reason the S&P 500 has seen its gain for the year so far tumble from 19.5% at the end of July to 10% as of Friday. Higher U.S. yields also attract more investments from abroad, which means investors are increasingly swapping their currencies for U.S. dollars. Since the end of July, the U.S. dollar has climbed roughly 4% against the euro, 5% against the British pound and 6% against the Australian dollar. While a stronger dollar helps U.S. tourists buy more stuff when they're abroad, it can also add financial pressure and heighten inflation for other countries, particularly in the developing world. Even for U.S. bond investors, the swift rise in bond yields has brought losses of their own. When new bonds are paying higher yields, it makes the older, lower-yielding bonds already sitting in investors' portfolios or mutual funds less attractive and knocks down their price.The largest U.S. bond mutual fund has lost roughly 3% so far in 2023 and is on track for a third straight yearly loss. That's never happened since its birth in 1987.。首局林高远/刘炜珊打得非常积极，也有发球的直接得分，3-1领先。但王楚钦/孙颖莎的调整非常快，通过落点限制，迅速追到4平。维持6平之后，王楚钦/孙颖莎的衔接非常完美，8-6拉开分差。接下来一鼓作气，11-6拿下了首局。

B | 而局末之所以拉开分差，一方面是默契好速度快，还有一方面是状态打出来了，展现前三板杀伤力。第二局林高远/刘炜珊连续发抢没有打上，即便是来到衔接段，也对不上，这让王楚钦/孙颖莎开局轰出4-0领先。而且王楚钦/孙颖莎局中凭借出色的状态，能迅速拉开到7-1领先。此时王楚钦连续反手得分，王楚钦/孙颖莎还出现失误，连丢3分。幸好孙颖莎正手爆冲，8-4止住颓势。局末王楚钦/孙颖莎依然可以连续得分，11-4再下一局。第三局王楚钦/孙颖莎还是可以压制对手，开局3-0打停对面。

C | 暂停回来，王楚钦/孙颖莎不管是落点还是质量都非常高，将比分扩大到了8-0领先。即便连续丢了2分，还是可以重新保持比分优势，最终11-2横扫对手晋级到了8强。这场比赛难度依然不大，开局有点慢热，不过局末找到状态之后可以一波带走比赛。后两局基本上都是全局压制，这就是双方实力的差距。别忘了，对面还是刚配的组合。

D |