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本帖最后由 小曲 于 2011-6-8 14:55 编辑 7 i2 G- M G, \& A- A
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Signature Market Roundup4 R8 v7 o- F: m0 U3 J* }) v" n
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5 G$ }7 F3 [2 B/ R/ y) C7 kEric Bushell; M$ H2 K: X7 L6 k4 P( i# d+ H
Senior Vice-President,! P7 X2 d' u6 b6 H
Portfolio Management6 \" [! y/ A' u8 a) }; T7 L
and Chief Investment Officer( d5 I# Z- @$ y' D) f
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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。$ C2 J6 \, J% f* `
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The second phase of the post-Lehman recovery in risky assets
( ]% G# @4 S" \7 Hmay be drawing to a close in April 2011. The fi rst phase: H% V8 P; P/ u" ~
ran from March 2009 to April 2010 and was halted by the5 e* {$ i+ A' y
European sovereign crisis and a U.S. slowdown. The second/ T0 e* f' A5 {9 k T+ I, H- {4 N
phase began with the U.S. Federal Reserve launching an
) X& W" ?3 E1 m: F1 q/ A& ]2 [/ S7 N eunconventional easing policy dubbed QE2 in September3 |, N% W* M& O" b: i. b6 h
2010. This action saw investors exit the dollar and scramble
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and equities. As we near the end of this policy, prospects: A' x2 b- O/ @) e- k* W
for dollar stabilization grow; this would be helped through
% ^9 W% C) ` _+ RU.S. fi scal retrenchment and relief on the part of bond
1 @" r# N! g/ _3 M" G$ S: o2 Emarkets. Given the success of the policy and the heightened. T1 d# i7 E9 C& [5 g+ P/ l* j/ x
uncertainties elsewhere, it may be time to move to a more! b/ S& Y: C4 s0 o
neutral risk positioning. |
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发表于 2011-6-8 13:44
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