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本帖最后由 小曲 于 2011-6-8 14:55 编辑
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Signature Market Roundup
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Eric Bushell
: a" y; @/ R. a2 SSenior Vice-President,
4 h0 Q& q% p* a1 V6 }7 R' \Portfolio Management
8 d9 q7 A! G3 D: n& E+ }and Chief Investment Officer
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. v Z. A# E* w* u2 J( N# V自lehman倒台后美国第二阶段的风险投资的恢复到四月底基本结束了。第一阶段是从2009三月到2010四月, 但被欧洲的债务危机和美国的减慢中断了。第二阶段是从美国联邦储备局2010年九月份开始的非传统的缓解政策,被称为QE2. 这个运作造成投资者抛售美金抢购房地产,商品期货,贷款,和股票。现在这个政策趋近结束,美金趋于稳定,这会帮助美国财政缩减,解除政卷市场的压力。面对美国QE2政策的成功,而世界其他地区都非常不稳定,现在可能是时候将投资定位到中性风险。' x* @: f8 ~- C7 {
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The second phase of the post-Lehman recovery in risky assets0 }1 f" p7 I# |5 t! B# z% @
may be drawing to a close in April 2011. The fi rst phase$ |5 F, C% _- e# f4 z0 T7 j7 c
ran from March 2009 to April 2010 and was halted by the
; Q8 {3 e5 Q. @/ S: z8 xEuropean sovereign crisis and a U.S. slowdown. The second
1 `, Y; X8 H# O1 j0 b& Fphase began with the U.S. Federal Reserve launching an
, k( ], W+ G; Q1 {* nunconventional easing policy dubbed QE2 in September
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for real assets ranging from property to commodities, credit9 ?! ]% A7 s1 R1 `. S
and equities. As we near the end of this policy, prospects+ {/ F. B/ ~0 [# s; M
for dollar stabilization grow; this would be helped through3 T4 j: U! @! ^$ v
U.S. fi scal retrenchment and relief on the part of bond
7 w! l4 n+ M7 smarkets. Given the success of the policy and the heightened3 v# L$ Y8 B) ~6 j6 p
uncertainties elsewhere, it may be time to move to a more
, P* o8 m" V: _! ]2 w" cneutral risk positioning. |
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