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本帖最后由 小曲 于 2011-6-8 14:55 编辑 * G+ d: N4 S5 w/ s/ D
( E- J$ v f8 k% PSignature Market Roundup8 M( J. d+ X7 T/ Q
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7 |% |9 _. |" H- B% NEric Bushell
/ _. U! [( [3 t* O; dSenior Vice-President,* _) Y3 Y4 n9 `- ]( \
Portfolio Management- w! n8 n8 K- U3 b* C4 s, W
and Chief Investment Officer
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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。
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The second phase of the post-Lehman recovery in risky assets
9 w/ V" t3 M& V' `- kmay be drawing to a close in April 2011. The fi rst phase
5 u7 I) U* o+ O. bran from March 2009 to April 2010 and was halted by the5 ~( o1 Q3 \) d. B
European sovereign crisis and a U.S. slowdown. The second) }' N9 i& T! P7 E
phase began with the U.S. Federal Reserve launching an
; {" v$ `) N3 K# ^unconventional easing policy dubbed QE2 in September" R3 v1 k& ~2 [ r4 @6 u' u4 H
2010. This action saw investors exit the dollar and scramble3 r- X/ x2 Q( c# b# J0 Q
for real assets ranging from property to commodities, credit
) @ D: G+ d, m5 ~and equities. As we near the end of this policy, prospects
/ s3 t: [0 Q% |# J/ pfor dollar stabilization grow; this would be helped through0 Q. }" X% n3 N/ s* V
U.S. fi scal retrenchment and relief on the part of bond3 C" ]6 q8 U- p
markets. Given the success of the policy and the heightened
# @. [" m4 q H: X# j, Nuncertainties elsewhere, it may be time to move to a more
8 U: E- d+ H, @neutral risk positioning. |
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