 鲜花( 3)  鸡蛋( 0)
|
本帖最后由 小曲 于 2011-6-8 14:55 编辑 ( C# a$ `1 } B& t4 I$ d1 e
4 V' w _2 a+ ^- s) X) X
Signature Market Roundup
# P5 D6 O6 ]7 |, [0 }- F5 v" h
, l3 J/ e0 S) m! v( i8 E- q2 ^
1 |! v$ H+ R( U( a, f" [ yEric Bushell$ m8 N- ]( l! H1 x
Senior Vice-President,
# O+ h7 d( ?7 j+ o R: zPortfolio Management L, f' K+ Y7 c" M1 T- W( H/ E
and Chief Investment Officer
$ ?$ y( X$ h9 C" C0 ?6 O
0 M; l6 j9 q6 w3 Y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。
+ r6 z h$ P3 ~7 p+ s4 `
3 o+ F" c5 w' g( b+ XThe second phase of the post-Lehman recovery in risky assets0 m$ U, B, d+ Q
may be drawing to a close in April 2011. The fi rst phase
( j) @4 q/ d4 c( b3 Yran from March 2009 to April 2010 and was halted by the7 b, _; {$ Y3 ` S
European sovereign crisis and a U.S. slowdown. The second* t, m# P3 L1 T8 A
phase began with the U.S. Federal Reserve launching an
( x. j: p3 A# Runconventional easing policy dubbed QE2 in September
) W5 X! @' X, \, G4 |2010. This action saw investors exit the dollar and scramble
, E- D* L a Q2 nfor real assets ranging from property to commodities, credit2 r2 H% H. d8 F$ t- Q& ?3 K
and equities. As we near the end of this policy, prospects
5 I8 M0 l* o7 n! _2 i. Qfor dollar stabilization grow; this would be helped through2 |0 n! x7 r# p$ i" ]
U.S. fi scal retrenchment and relief on the part of bond$ }1 i) |; f( t: Y, k% d
markets. Given the success of the policy and the heightened
/ O8 l- u5 | {# g5 h# O) yuncertainties elsewhere, it may be time to move to a more! t, E& Y8 @+ t H" V- d2 d
neutral risk positioning. |
|