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本帖最后由 小曲 于 2011-6-8 14:55 编辑 2 r- B& _+ [' k5 B5 i
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Signature Market Roundup
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Eric Bushell6 Q7 u6 Q) [9 n$ v7 ?% z
Senior Vice-President,9 G8 n5 c% C. X
Portfolio Management
$ ~3 |9 _; I$ `8 A' o9 jand Chief Investment Officer
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7 S- [9 d4 U1 \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。+ ~& l$ Y, @0 l/ V/ s0 A7 ]5 K
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The second phase of the post-Lehman recovery in risky assets! k- `4 d% z) g* Y4 A0 k. w
may be drawing to a close in April 2011. The fi rst phase
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European sovereign crisis and a U.S. slowdown. The second" V% _+ j- E; |. f; s+ t
phase began with the U.S. Federal Reserve launching an
, h" @) T- u8 }" M* D$ bunconventional easing policy dubbed QE2 in September9 |. L8 s# B8 i7 P4 C
2010. This action saw investors exit the dollar and scramble
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$ L; i0 w/ \ S% l- {and equities. As we near the end of this policy, prospects
+ ]0 Z: S, D% {9 A- u* bfor dollar stabilization grow; this would be helped through
, t+ b0 M! ?6 _5 P# L0 mU.S. fi scal retrenchment and relief on the part of bond7 O9 e: C r5 M4 r% V
markets. Given the success of the policy and the heightened6 y+ h- G* g3 c: k7 A4 a! X
uncertainties elsewhere, it may be time to move to a more
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