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本帖最后由 小曲 于 2011-6-8 14:55 编辑 5 a6 n& ~3 a; v# I; @* {
; g h) @) n/ v# w/ vSignature Market Roundup
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Eric Bushell# h( t$ C& z' U* C; G! L+ |2 R$ @
Senior Vice-President,
% r) q% n& Y* f- m, Z! dPortfolio Management
/ o1 K9 G: v& g U6 \6 o P: {% {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。7 W, F+ R$ V) P
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The second phase of the post-Lehman recovery in risky assets
9 o. J( ]) a3 N9 y/ N0 omay be drawing to a close in April 2011. The fi rst phase H* j8 a1 ~1 i6 h$ G% {
ran from March 2009 to April 2010 and was halted by the
. P6 U3 m6 S; U" D% r7 |3 [& CEuropean sovereign crisis and a U.S. slowdown. The second6 A5 ?2 h. o9 A8 ? b2 J
phase began with the U.S. Federal Reserve launching an, q& A3 S$ Z |6 \0 [
unconventional easing policy dubbed QE2 in September
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and equities. As we near the end of this policy, prospects
: Q/ C+ r" }0 q, J$ M7 gfor dollar stabilization grow; this would be helped through( l, l2 Q8 a0 Y5 R; B! X* p/ f" d* Z
U.S. fi scal retrenchment and relief on the part of bond4 ^7 h$ u: P" d/ V9 j
markets. Given the success of the policy and the heightened5 Q. E7 J4 h+ C9 S, }
uncertainties elsewhere, it may be time to move to a more
$ j6 o& Z5 a4 k1 s8 N# l2 ]neutral risk positioning. |
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发表于 2011-6-8 13:44
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