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SP2021

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2021-05-06

Good news

PayPal's first-quarter net profit increased by 1206% year-on-year, and its stock price rose more than 4% after hours.

2022-01-17

Hao

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2022-02-26

Ok

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2022-02-24

Not good

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2021-09-03

Zan

Foreign media headlines: Morgan Stanley slashes US third-quarter GDP forecast to 2.9%

2022-02-28

Ok

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2022-01-10

Haha

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2021-09-05

Zan

Will the "non-farm payrolls" dive scare off the Fed?

2021-08-02

Zan

Foreign media headlines: The world ushered in the most extensive house price rise in 20 years

2021-05-08

Agree

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Go to Tiger App to see more news

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16:33","market":"sg","language":"zh","title":"Sources say Ukrainian president is willing to discuss Crimea and Donbas issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1181459333","media":"澎湃新闻","summary":"如果基辅满足一系列条件，莫斯科可以“立即”停止在乌克兰的特别军事行动。","content":"<p><div>Ukrainian President Zelensky said on March 8, local time, that Ukraine can discuss with Russia how the people in Crimea and Donbas will live and seek a compromise plan. According to a report by Sputnik news agency & radio on March 8, Zelensky made the above statement when expressing his position on the dispute between Crimea and Donbas. On March 7, Russian Presidential Press Secretary Peskov pointed out that if Kiev meets a series of conditions, Moscow can \"immediately\" stop special military operations in Ukraine. These conditions include: recognition of Crimea as Russian territory, recognition of the \"Luhansk People's Republic\" and...</p><p><a href=\"https://www.thepaper.cn/newsDetail_forward_17014329\">Web link</a></div></p>","source":"ppxw","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sources say Ukrainian president is willing to discuss Crimea and Donbas issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSources say Ukrainian president is willing to discuss Crimea and Donbas issues\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">澎湃新闻</strong><span class=\"h-time small\">2022-03-08 16:33</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>Ukrainian President Zelensky said on March 8, local time, that Ukraine can discuss with Russia how the people in Crimea and Donbas will live and seek a compromise plan. According to a report by Sputnik news agency & radio on March 8, Zelensky made the above statement when expressing his position on the dispute between Crimea and Donbas. On March 7, Russian Presidential Press Secretary Peskov pointed out that if Kiev meets a series of conditions, Moscow can \"immediately\" stop special military operations in Ukraine. These conditions include: recognition of Crimea as Russian territory, recognition of the \"Luhansk People's Republic\" and...</p><p><a href=\"https://www.thepaper.cn/newsDetail_forward_17014329\">Web link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.thepaper.cn/newsDetail_forward_17014329\">澎湃新闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ec55645df2a853f64791de2a1ad27327","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://www.thepaper.cn/newsDetail_forward_17014329","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181459333","content_text":"乌克兰总统泽连斯基于当地时间3月8日表示，乌克兰方面可以就克里米亚和顿巴斯地区人民将如何生活的问题与俄方进行讨论，并寻求妥协方案。据俄罗斯卫星通讯社3月8日报道，泽连斯基当日对克里米亚和顿巴斯地区争端表态时作出以上表述。3月7日，俄罗斯总统新闻秘书佩斯科夫指出，如果基辅满足一系列条件，莫斯科可以“立即”停止在乌克兰的特别军事行动。这些条件包括：承认克里米亚是俄罗斯领土，承认“卢甘斯克人民共和国”和“顿涅茨克人民共和国”的主权，同时乌克兰需确定拒绝加入任何联盟。欧股反弹，截至发稿法国CAC40指数涨超3%，德国DAX指数、欧洲斯托克50指数均涨超2%。同时，美股三大指数期货快速拉升，由跌转涨。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":4039,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9031603446,"gmtCreate":1646532193669,"gmtModify":1676534137167,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9031603446","repostId":"2217579493","repostType":4,"repost":{"id":"2217579493","kind":"highlight","pubTimestamp":1646484952,"share":"https://ttm.financial/m/news/2217579493?lang=en_US&edition=fundamental","pubTime":"2022-03-05 20:55","market":"us","language":"zh","title":"Is the C-side payment potential exhausted? Disney cuts back to \"semi-advertising\" mode","url":"https://stock-news.laohu8.com/highlight/detail?id=2217579493","media":"华尔街见闻","summary":"时代变了，流媒体战争也变了。","content":"<p><html><head></head><body>Just a year ago, Walter<a href=\"https://laohu8.com/S/DIS\">Disney</a>Companies are also telling investors that it's disgusting that streaming platforms offer cheaper, advertised subscriptions.</p><p>A year has passed, times have changed, and so have the streaming wars.</p><p>Disney announced on Friday that starting from the end of 2022, Disney will launch \"Disney +\" to enter the global online video market. This is a brand-new membership product with cheaper tariffs, but there will be advertisements.</p><p>However, Disney did not disclose the pricing details of the ad-sponsored subscription service, nor did it disclose when it would be launched. Users can still subscribe to the ad-free version of Disney + for $7.99 a month.</p><p><h4><b>Streamers have launched interstitial advertising members one after another</b></h4>Long before Disney, streaming media such as WarnerMedia, Paramount Global, NBC Universal, and Discovery have launched membership products with advertisements, hoping to continue to compete for memberships.</p><p>Now Disney has joined this new bandwagon in the industry, showing how fierce the battle for new subscribers among streaming companies has reached as consumers try to limit household spending and become more selective about which streaming services to sign up for, while also highlighting the contribution of advertising to revenue growth for streaming services.</p><p>According to the Wall Street Journal, Cowen & Co. analyst Doug Creutz, who tracks streaming services, ad-supported streaming products have helped boost APRU (average revenue per user), an important metric for media companies to measure their business. \"They're doing everything they can to drive subscriber growth,\" Creutz said. \"They put all their energy into streaming, it's a bloody competition.\"</p><p>WarnerMedia offers a version of HBOMax with ad breaks for $9.99 a month, while the version without ads costs $14.99 a month.</p><p>NBCUniversal offers a premium streaming service with ad differentials for $4.99 a month or $9.99 without ads. Paramount Global and Discovery Inc. offer two tiers of \"Paramount +\" and \"Discovery +\" services, respectively, with and without ads, at a monthly fee of $4.99 and $9.99, respectively.</p><p><h4><b>Disney's layers of pressure</b></h4>Disney owns three major online video products, including \"Disney +\" and \"Hulu\" and \"ESPN +\". Currently, Hulu has an advertising membership, which charges $6.99 a month. According to Disney's goals, the company plans to achieve profitability in its consumer direct sales business (mainly online video) in 2024. The newly released Disney + advertising products are the \"cornerstone\" for Disney to achieve the goal of signing up 230 million to 260 million users by the end of fiscal year 2024, which was the goal first announced by its company at its Investor Day launch in December 2020.</p><p>In addition to launching new products and services, Disney is taking several measures to stimulate membership growth. At the end of last year, Disney launched a preferential measure. If consumers purchase a \"Hulu\" membership, they will get a discount if they purchase a \"Disney +\" membership or an \"ESPN +\" membership. The effect of this preferential policy is very obvious. In the latest quarter, the growth rate of \"Disney +\" members in the United States reached 11%, which is much higher than the growth rate of about 2% to 3% in the past four quarters.</p><p>However, Disney is still facing pressure from investors to meet its subscriber growth targets. During pandemic lockdowns, Disney + caught fire, adding nearly 75 million subscribers in its first year after launch, but subscription growth slowed as the pandemic eased and competitors returned.</p><p>Last quarter, Disney added 11.8 million new subscribers, and subscription growth exceeded expectations. The result stands in stark contrast to Netflix, its main streaming rival. Netflix reported in late January that it added 8.3 million new subscribers in the most recent quarter, which fell short of investor expectations, and its shares also fell nearly 30% after the report was released.</p><p>While Netflix and<a href=\"https://laohu8.com/S/AAPL\">Apple</a>It is also the only major streaming media service company that does not provide low-cost, advertising breaks at present. Apple still has many other products supporting its revenue, but where does the future of Netflix go?</p><p></body></html></p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is the C-side payment potential exhausted? Disney cuts back to \"semi-advertising\" mode</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs the C-side payment potential exhausted? Disney cuts back to \"semi-advertising\" mode\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2022-03-05 20:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Just a year ago, Walter<a href=\"https://laohu8.com/S/DIS\">Disney</a>Companies are also telling investors that it's disgusting that streaming platforms offer cheaper, advertised subscriptions.</p><p>A year has passed, times have changed, and so have the streaming wars.</p><p>Disney announced on Friday that starting from the end of 2022, Disney will launch \"Disney +\" to enter the global online video market. This is a brand-new membership product with cheaper tariffs, but there will be advertisements.</p><p>However, Disney did not disclose the pricing details of the ad-sponsored subscription service, nor did it disclose when it would be launched. Users can still subscribe to the ad-free version of Disney + for $7.99 a month.</p><p><h4><b>Streamers have launched interstitial advertising members one after another</b></h4>Long before Disney, streaming media such as WarnerMedia, Paramount Global, NBC Universal, and Discovery have launched membership products with advertisements, hoping to continue to compete for memberships.</p><p>Now Disney has joined this new bandwagon in the industry, showing how fierce the battle for new subscribers among streaming companies has reached as consumers try to limit household spending and become more selective about which streaming services to sign up for, while also highlighting the contribution of advertising to revenue growth for streaming services.</p><p>According to the Wall Street Journal, Cowen & Co. analyst Doug Creutz, who tracks streaming services, ad-supported streaming products have helped boost APRU (average revenue per user), an important metric for media companies to measure their business. \"They're doing everything they can to drive subscriber growth,\" Creutz said. \"They put all their energy into streaming, it's a bloody competition.\"</p><p>WarnerMedia offers a version of HBOMax with ad breaks for $9.99 a month, while the version without ads costs $14.99 a month.</p><p>NBCUniversal offers a premium streaming service with ad differentials for $4.99 a month or $9.99 without ads. Paramount Global and Discovery Inc. offer two tiers of \"Paramount +\" and \"Discovery +\" services, respectively, with and without ads, at a monthly fee of $4.99 and $9.99, respectively.</p><p><h4><b>Disney's layers of pressure</b></h4>Disney owns three major online video products, including \"Disney +\" and \"Hulu\" and \"ESPN +\". Currently, Hulu has an advertising membership, which charges $6.99 a month. According to Disney's goals, the company plans to achieve profitability in its consumer direct sales business (mainly online video) in 2024. The newly released Disney + advertising products are the \"cornerstone\" for Disney to achieve the goal of signing up 230 million to 260 million users by the end of fiscal year 2024, which was the goal first announced by its company at its Investor Day launch in December 2020.</p><p>In addition to launching new products and services, Disney is taking several measures to stimulate membership growth. At the end of last year, Disney launched a preferential measure. If consumers purchase a \"Hulu\" membership, they will get a discount if they purchase a \"Disney +\" membership or an \"ESPN +\" membership. The effect of this preferential policy is very obvious. In the latest quarter, the growth rate of \"Disney +\" members in the United States reached 11%, which is much higher than the growth rate of about 2% to 3% in the past four quarters.</p><p>However, Disney is still facing pressure from investors to meet its subscriber growth targets. During pandemic lockdowns, Disney + caught fire, adding nearly 75 million subscribers in its first year after launch, but subscription growth slowed as the pandemic eased and competitors returned.</p><p>Last quarter, Disney added 11.8 million new subscribers, and subscription growth exceeded expectations. The result stands in stark contrast to Netflix, its main streaming rival. Netflix reported in late January that it added 8.3 million new subscribers in the most recent quarter, which fell short of investor expectations, and its shares also fell nearly 30% after the report was released.</p><p>While Netflix and<a href=\"https://laohu8.com/S/AAPL\">Apple</a>It is also the only major streaming media service company that does not provide low-cost, advertising breaks at present. Apple still has many other products supporting its revenue, but where does the future of Netflix go?</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3653473\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/24a5c9ee763bdd068795172812d82227","relate_stocks":{"BK4524":"宅经济概念","BK4548":"巴美列捷福持仓","BK4550":"红杉资本持仓","BK4108":"电影和娱乐","BK4581":"高盛持仓","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4507":"流媒体概念","NFLX":"奈飞","QNETCN":"纳斯达克中美互联网老虎指数","BK4527":"明星科技股","BK4566":"资本集团","BK4551":"寇图资本持仓","DIS":"迪士尼","BK4561":"索罗斯持仓","BK4534":"瑞士信贷持仓"},"source_url":"https://wallstreetcn.com/articles/3653473","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2217579493","content_text":"就在一年前，华特·迪士尼公司还在对投资者说，流媒体平台提供更便宜、有广告的订阅服务真是令人厌恶。一年过去了，时代变了，流媒体战争也变了。迪士尼周五宣布，从2022年底开始，迪士尼将推出“Disney+”进入全球网络视频市场，这是一种全新会员产品，资费更便宜，但是将会插播广告。不过迪士尼没有透露广告赞助订阅服务的定价细节，也没有透露具体何时推出。用户仍然可以订阅无广告版本的Disney+，每月收费7.99美元。流媒体纷纷推出插播广告会员早在迪士尼之前，华纳传媒、派拉蒙全球、NBC环球、Discovery等流媒体纷纷推出了插播广告的会员产品，希望能够持续争抢会员。如今迪士尼也加入了这股行业新潮流中，表明了随着消费者试图限制家庭支出，并对注册哪些流媒体服务变得更加挑剔，流媒体公司争夺新用户的战斗已达到了何等激烈的程度，同时也突显了广告为流媒体服务的收入增长做出的贡献。据华尔街日报，Cowen&Co.跟踪流媒体服务的分析师Doug Creutz说，广告支持的流媒体产品帮助提高了APRU（平均每用户收入），这是媒体公司衡量业务的一个重要指标。“他们正在竭尽全力推动订户增长，”Creutz说。“他们把全部精力都放在了流媒体上，这是一场血腥的竞争。”华纳传媒提供了一个有广告插播的HBOMax版本，月费为9.99美元，而没有广告的版本月费为14.99美元。NBC环球提供带有广告差别的高级流媒体服务，月费为4.99美元，不含广告的收费为9.99美元。派拉蒙全球和探索公司分别提供两种等级的“派拉蒙+”和“探索+”服务，有广告和没有广告的，月费分别为4.99美元和9.99美元。迪士尼的层层压力迪士尼旗下拥有三大网络视频产品，除了“Disney+”还有“Hulu”和“ESPN+”。目前，Hulu拥有插广告会员，月收费6.99美元。根据迪士尼目标，该公司计划在2024年实现消费者直销业务（主要是网络视频）的盈利，新发行的Disney+含广告产品是迪士尼在2024财年结束前实现2.3亿至2.6亿用户签约目标的“基石”，这是其公司在2020年12月的投资者日发布会上首次宣布的目标。除了推出新的产品服务之外，迪士尼正在采取多种措施刺激会员增长。去年底，迪士尼推出一项优惠措施，消费者如果购买了“Hulu”会员，那么他们如果购买“Disney+”会员或是“ESPN+”会员将获得打折优惠。这一优惠政策效果十分明显，在最近一个季度中，“Disney+”会员在美国的增长速度达到了11%，远远高于过去四个季度大约2%到3%的增长速度。然而迪士尼仍面临着来自投资者的压力，投资者们要求其实现订阅用户增长目标。在疫情封锁期间，Disney+大火，在推出后的第一年就增加了近7500万名用户，但随着疫情缓解和竞争对手的回归，订阅增长放缓。上个季度，迪士尼新增1180万订阅用户，订阅增长超过预期。这一结果与其主要的流媒体竞争对手Netflix形成了鲜明对比。Netflix在1月底的报告中称，最近一个季度新增了830万用户，低于投资者的预期，其股价也在报告公布后下跌了近30%。而Netflix和苹果也是目前唯二成为不提供低成本、广告插播的主要流媒体服务公司。苹果尚且还有其他众多产品支撑着其收入，可Netflix的未来又何去何从呢？","news_type":1,"symbols_score_info":{"DIS":1,"QNETCN":0.6,"NFLX":1}},"isVote":1,"tweetType":1,"viewCount":3806,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9031318672,"gmtCreate":1646442385034,"gmtModify":1676534129769,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9031318672","repostId":"2217410465","repostType":4,"isVote":1,"tweetType":1,"viewCount":4346,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9033426542,"gmtCreate":1646349919407,"gmtModify":1676534119599,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Be carwful","listText":"Be carwful","text":"Be carwful","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9033426542","repostId":"1107683547","repostType":4,"repost":{"id":"1107683547","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1646322251,"share":"https://ttm.financial/m/news/1107683547?lang=en_US&edition=fundamental","pubTime":"2022-03-03 23:44","market":"us","language":"zh","title":"All three major U.S. stock indexes turned lower, with the Nasdaq falling more than 1%","url":"https://stock-news.laohu8.com/highlight/detail?id=1107683547","media":"老虎资讯综合","summary":"3月3日，美股三大股指悉数转跌，纳指跌超1%，标普500指数跌0.47%，道指跌0.26%。特斯拉、英伟达跌超2%，亚马逊、台积电、Meta Platforms跌超1%，微软跌近1%。","content":"<p><html><head></head><body>On March 3, all three major U.S. stock indexes turned down, with the Nasdaq falling more than 1%, the S&P 500 falling 0.47%, and the Dow falling 0.26%.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>、<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>Fell more than 2%,<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>、<a href=\"https://laohu8.com/S/TSM\">TSMC</a>、<a href=\"https://laohu8.com/S/FB\">Meta Platforms</a>It fell more than 1%, and Microsoft fell nearly 1%.</p><p><img src=\"https://static.tigerbbs.com/de98a083ce7ba2fd9a6b9a7b03208f85\" tg-width=\"828\" tg-height=\"272\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/9320c7b75cdb877caeacb19984e61d92\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>All three major U.S. stock indexes turned lower, with the Nasdaq falling more than 1%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-03-03 23:44</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On March 3, all three major U.S. stock indexes turned down, with the Nasdaq falling more than 1%, the S&P 500 falling 0.47%, and the Dow falling 0.26%.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>、<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>Fell more than 2%,<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>、<a href=\"https://laohu8.com/S/TSM\">TSMC</a>、<a href=\"https://laohu8.com/S/FB\">Meta Platforms</a>It fell more than 1%, and Microsoft fell nearly 1%.</p><p><img src=\"https://static.tigerbbs.com/de98a083ce7ba2fd9a6b9a7b03208f85\" tg-width=\"828\" tg-height=\"272\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/9320c7b75cdb877caeacb19984e61d92\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/4f6ec6e99c0c8b9feb7f296b78c65a54","relate_stocks":{"QID":"两倍做空纳斯达克指数ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","BK4550":"红杉资本持仓","TSLA":"特斯拉",".DJI":"道琼斯","SQQQ":"纳指三倍做空ETF","BK4561":"索罗斯持仓","03086":"华夏纳指",".IXIC":"NASDAQ Composite","PSQ":"做空纳斯达克100指数ETF-ProShares","BK4534":"瑞士信贷持仓","QQQ":"纳指100ETF","TQQQ":"纳指三倍做多ETF"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107683547","content_text":"3月3日，美股三大股指悉数转跌，纳指跌超1%，标普500指数跌0.47%，道指跌0.26%。特斯拉、英伟达跌超2%，亚马逊、台积电、Meta Platforms跌超1%，微软跌近1%。","news_type":1,"symbols_score_info":{"TQQQ":0.9,"03086":0.9,"QQQ":0.9,"TSLA":0.9,"QLD":0.9,".DJI":0.9,"QID":0.9,"PSQ":0.9,"SQQQ":0.9,"NQmain":0.9,".IXIC":0.9,"MNQmain":0.9}},"isVote":1,"tweetType":1,"viewCount":4346,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9033607431,"gmtCreate":1646263883923,"gmtModify":1676534109129,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"OK//<a href=\"https://laohu8.com/U/3575508103712478\">@SP2021</a>:Good","listText":"OK//<a href=\"https://laohu8.com/U/3575508103712478\">@SP2021</a>:Good","text":"OK//@SP2021:Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9033607431","repostId":"2216175782","repostType":4,"isVote":1,"tweetType":1,"viewCount":3078,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9033607684,"gmtCreate":1646263876292,"gmtModify":1676534109122,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9033607684","repostId":"2216175782","repostType":4,"isVote":1,"tweetType":1,"viewCount":4108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9033055361,"gmtCreate":1646173633742,"gmtModify":1676534097322,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9033055361","repostId":"2216811042","repostType":4,"repost":{"id":"2216811042","kind":"highlight","pubTimestamp":1646144408,"share":"https://ttm.financial/m/news/2216811042?lang=en_US&edition=fundamental","pubTime":"2022-03-01 22:20","market":"us","language":"zh","title":"If the Ukrainian crisis pushes up inflation, it may force the Fed to accelerate rate hike this summer","url":"https://stock-news.laohu8.com/highlight/detail?id=2216811042","media":"华尔街见闻","summary":"美联储政策收紧计划正面临俄乌危机的干扰：如果俄乌危机导致通胀持续上行，美联储或被迫在今年夏天大幅升息，这将增加明年经济衰退的风险。美联储主席鲍威尔本周三将在众议院金融服务委员会作证，周四将在参议院银行","content":"<p><html><head></head><body>The Fed's policy tightening plan is facing interference from the Russia-Ukraine crisis: If the Russia-Ukraine crisis causes inflation to continue to rise, the Fed may be forced to raise interest rates sharply this summer, which will increase the risk of an economic recession next year.</p><p>Federal Reserve Chairman Jerome Powell will testify before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday, one of the two annual appearances of the Federal Reserve chairman in Congress.</p><p>This year's timing coincides with the release of the Federal Reserve's semi-annual monetary review report policy. The report was released last week. Regarding the Russia-Ukraine crisis, the report only contains a brief mention that \"recent geopolitical tensions related to the Russia-Ukraine situation are a source of uncertainty in global financial and commodity markets.\"</p><p>During times of geopolitical volatility, the Fed typically avoids steps that exacerbate uncertainty.<b>But given that U.S. inflation is well above its 2% target and the Ukrainian crisis threatens to push inflation even higher, the Fed may face considerable urgency to continue its planned rate hike.</b></p><p><h2><b>25 basis point interest rate hike in March</b></h2>In public statements and interviews last week, Fed officials agreed with rate hike's plan at the March 15-16 meeting. Officials said it was too early to tell how the war would affect the economic outlook, but they were monitoring developments closely.</p><p>The Wall Street Journal analysis pointed out that the current problem is that Fed officials had previously expected the U.S. inflation rate to peak this quarter, and the indicator is currently at its highest level in 40 years. Geopolitical developments pushed up price movements throughout the spring, especially in energy and commodities,<b>Could force the Fed to accelerate its rate hike this summer, which will increase the risk of a recession next year.</b></p><p>Federal Reserve Chairman Powell faces a choice:<b>Is it necessary to prepare the market for a scenario in which if inflation doesn't decrease soon, a larger-than-expected rate hike this summer, which is a 50 basis point rate hike.</b></p><p><b>The market has now lowered bets that the Fed will raise interest rates by 50 basis points in March</b>: The latest swap pricing on Tuesday showed that traders expect the Federal Reserve to raise interest rates by 24.5 basis points (basically equal to a 25 basis point rate hike) at its March 16 meeting.</p><p>Market analysts predict that Powell is likely to downplay the possibility of a 50 basis point Fed rate hike in March at this week's hearing.</p><p>Most Fed officials have indicated that they would prefer to start raising the benchmark interest rate by 25 basis points in March; The last time the Federal Reserve made a 50 basis point rate hike was in 2000, and all previous rate hike since then have been 25 basis points.</p><p>Within the Fed, only two officials have publicly called for a 50 basis point rate hike at the March policy meeting. Fed Governor Christopher Waller said last week that if the inflation and employment report released before the Fed's next meeting \"suggests that the U.S. economy is still overheated, then there is good reason to support a 50 basis point rate hike in March.\"</p><p><h2>Economic data to be in focus</h2>Two important economic data will be the focus of the Federal Reserve and the market: the February U.S. employment report scheduled to be released this Friday, and the February CPI report to be released on March 10.</p><p>If another economic data shows an overheated job market or accelerated price pressures, it may reignite the debate on whether the Fed will rate hike by 50 basis points in March, provided that the Ukrainian conflict will not further exacerbate market chaos.</p><p>Fed officials have hinted that they may consider a 50 basis point rate hike this summer if subsequent inflation levels remain high. A larger rate hike may push the U.S. federal interest rate to the range of 2.25%-2.5%, which was last reached at the end of 2018.</p><p></body></html></p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>If the Ukrainian crisis pushes up inflation, it may force the Fed to accelerate rate hike this summer</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIf the Ukrainian crisis pushes up inflation, it may force the Fed to accelerate rate hike this summer\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2022-03-01 22:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The Fed's policy tightening plan is facing interference from the Russia-Ukraine crisis: If the Russia-Ukraine crisis causes inflation to continue to rise, the Fed may be forced to raise interest rates sharply this summer, which will increase the risk of an economic recession next year.</p><p>Federal Reserve Chairman Jerome Powell will testify before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday, one of the two annual appearances of the Federal Reserve chairman in Congress.</p><p>This year's timing coincides with the release of the Federal Reserve's semi-annual monetary review report policy. The report was released last week. Regarding the Russia-Ukraine crisis, the report only contains a brief mention that \"recent geopolitical tensions related to the Russia-Ukraine situation are a source of uncertainty in global financial and commodity markets.\"</p><p>During times of geopolitical volatility, the Fed typically avoids steps that exacerbate uncertainty.<b>But given that U.S. inflation is well above its 2% target and the Ukrainian crisis threatens to push inflation even higher, the Fed may face considerable urgency to continue its planned rate hike.</b></p><p><h2><b>25 basis point interest rate hike in March</b></h2>In public statements and interviews last week, Fed officials agreed with rate hike's plan at the March 15-16 meeting. Officials said it was too early to tell how the war would affect the economic outlook, but they were monitoring developments closely.</p><p>The Wall Street Journal analysis pointed out that the current problem is that Fed officials had previously expected the U.S. inflation rate to peak this quarter, and the indicator is currently at its highest level in 40 years. Geopolitical developments pushed up price movements throughout the spring, especially in energy and commodities,<b>Could force the Fed to accelerate its rate hike this summer, which will increase the risk of a recession next year.</b></p><p>Federal Reserve Chairman Powell faces a choice:<b>Is it necessary to prepare the market for a scenario in which if inflation doesn't decrease soon, a larger-than-expected rate hike this summer, which is a 50 basis point rate hike.</b></p><p><b>The market has now lowered bets that the Fed will raise interest rates by 50 basis points in March</b>: The latest swap pricing on Tuesday showed that traders expect the Federal Reserve to raise interest rates by 24.5 basis points (basically equal to a 25 basis point rate hike) at its March 16 meeting.</p><p>Market analysts predict that Powell is likely to downplay the possibility of a 50 basis point Fed rate hike in March at this week's hearing.</p><p>Most Fed officials have indicated that they would prefer to start raising the benchmark interest rate by 25 basis points in March; The last time the Federal Reserve made a 50 basis point rate hike was in 2000, and all previous rate hike since then have been 25 basis points.</p><p>Within the Fed, only two officials have publicly called for a 50 basis point rate hike at the March policy meeting. Fed Governor Christopher Waller said last week that if the inflation and employment report released before the Fed's next meeting \"suggests that the U.S. economy is still overheated, then there is good reason to support a 50 basis point rate hike in March.\"</p><p><h2>Economic data to be in focus</h2>Two important economic data will be the focus of the Federal Reserve and the market: the February U.S. employment report scheduled to be released this Friday, and the February CPI report to be released on March 10.</p><p>If another economic data shows an overheated job market or accelerated price pressures, it may reignite the debate on whether the Fed will rate hike by 50 basis points in March, provided that the Ukrainian conflict will not further exacerbate market chaos.</p><p>Fed officials have hinted that they may consider a 50 basis point rate hike this summer if subsequent inflation levels remain high. A larger rate hike may push the U.S. federal interest rate to the range of 2.25%-2.5%, which was last reached at the end of 2018.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3653111\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6a1de7aced7748879f251930783a3cb1","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","UDOW":"三倍做多道指30ETF-ProShares","DOG":"道指ETF-ProShares做空","IVV":"标普500ETF-iShares",".IXIC":"NASDAQ Composite","OEX":"标普100","BK4534":"瑞士信贷持仓","UPRO":"三倍做多标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","OEF":"标普100指数ETF-iShares","DDM":"2倍做多道指ETF-ProShares",".SPX":"S&P 500 Index","SH":"做空标普500-Proshares",".DJI":"道琼斯","SQQQ":"纳指三倍做空ETF","SDOW":"三倍做空道指30ETF-ProShares","BK4504":"桥水持仓","SPY":"标普500ETF","BK4559":"巴菲特持仓","QID":"两倍做空纳斯达克指数ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","BK4550":"红杉资本持仓","SDS":"两倍做空标普500 ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","TQQQ":"纳指三倍做多ETF","SSO":"2倍做多标普500ETF-ProShares","DJX":"1/100道琼斯","DXD":"两倍做空道琼30指数ETF-ProShares","QQQ":"纳指100ETF"},"source_url":"https://wallstreetcn.com/articles/3653111","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2216811042","content_text":"美联储政策收紧计划正面临俄乌危机的干扰：如果俄乌危机导致通胀持续上行，美联储或被迫在今年夏天大幅升息，这将增加明年经济衰退的风险。美联储主席鲍威尔本周三将在众议院金融服务委员会作证，周四将在参议院银行委员会作证，这是美联储主席每年两次在国会露面的时间之一。今年的时间点恰逢美联储发布半年度货币审查报告政策。报告于上周发布。对于俄乌危机，报告仅包含一个简短的提及，即“最近与俄罗斯—乌克兰局势相关的地缘政治紧张局势是全球金融和商品市场不确定性的来源。”在地缘政治局势动荡时期，美联储通常会避免采取加剧不确定性的措施。但鉴于美国通胀率远远超过2%的目标，并且乌克兰危机有可能将通胀推得更高，美联储可能面临相当大的紧迫性，需要继续按计划加息。3月升息25个基点在上周的公开表态和采访中，美联储官员赞同在3月15-16日的会议上加息的计划。官员们表示，现在判断战争将如何影响经济前景还为时过早，但他们正在密切关注事态发展。华尔街日报分析指出，目前的问题在于，美联储官员此前预计美国的通胀率率将在本季度达到峰值，该指标目前正处于40年来最高水平。地缘政治形势发展推高整个春季的价格走势，尤其是能源和大宗商品，可能迫使美联储在今年夏季加速加息，这将增加明年经济衰退的风险。美联储主席鲍威尔面临抉择：是否需要让市场准备好迎接如下情景，即如果通胀率没有很快降低，那么今年夏天可能进行比预期幅度更大的加息，也就是加息50个基点。目前市场已经降低对于美联储3月升息50个基点的押注：周二最新掉期定价显示，交易员预计美联储将在3月16日的会议上升息 24.5个基点（基本等于升息25个基点）。市场分析预计，鲍威尔很可能在本周的听证会上淡化美联储3月加息50个基点的可能性。大多数美联储官员已表示，他们更希望3月份开始将基准利率上调25个基点；美联储上次加息50个基点是在2000年，之后历次加息幅度都是25个基点。美联储内部，目前只有两位官员公开呼吁在3月政策会议上加息50个基点。美联储理事沃勒(Christopher Waller)上周表示，如果美联储下次会议前发布的通胀和就业报告“表明美国经济仍然过热，那么就有充分理由支持3月份加息50个基点”。经济数据将成为焦点两项重要经济数据将成为美联储以及市场关注的焦点：定于本周五发布的美国2月就业报告，以及3月10日将发布的2月份CPI报告。如果又有经济数据显示就业市场过热或价格压力加速，可能会重新引发关于美联储3月是否加息50个基点的辩论，当然这一辩论的前提是乌克兰冲突不会进一步加剧市场混乱。美联储官员已经暗示，如果后续通胀水平维持高位，他们可能考虑今年夏季加息50个基点。如果以更大幅度加息，可能会将美国联邦利率推升至2.25%-2.5%区间，而上一次达到这一水平是在2018年底。","news_type":1,"symbols_score_info":{"161125":0.6,"513500":0.6,"TQQQ":0.6,"SH":0.6,"OEX":0.6,"MNQmain":0.6,"SPXU":0.6,"IVV":0.6,"DJX":0.6,"UPRO":0.6,"SDOW":0.6,"SDS":0.6,"ESmain":0.6,"QQQ":0.6,"UDOW":0.6,"SSO":0.6,".IXIC":1,".DJI":1,"PSQ":0.6,"SQQQ":0.6,"DXD":0.6,"OEF":0.6,".SPX":0.6,"DDM":0.6,"QLD":0.6,"NQmain":0.6,"QID":0.6,"SPY":1,"DOG":0.6}},"isVote":1,"tweetType":1,"viewCount":3551,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039529261,"gmtCreate":1646089889363,"gmtModify":1676534088918,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Yue","listText":"Yue","text":"Yue","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039529261","repostId":"2214161887","repostType":4,"repost":{"id":"2214161887","kind":"highlight","pubTimestamp":1646060544,"share":"https://ttm.financial/m/news/2214161887?lang=en_US&edition=fundamental","pubTime":"2022-02-28 23:02","market":"us","language":"zh","title":"European and American sanctions target Russia's foreign reserves. How big is the impact?","url":"https://stock-news.laohu8.com/highlight/detail?id=2214161887","media":"华尔街见闻","summary":"俄乌局势如火如荼，而西方国家不断升级制裁，裁剑指俄罗斯外储。2月22日开始，西方各国对俄罗斯先后发起了两波制裁。2月26日晚间，美国、欧盟、英国和加拿大等西方大国突然发表联合声明，宣布禁止俄罗斯央行及","content":"<p><html><head></head><body>The situation between Russia and Ukraine is in full swing, while Western countries continue to escalate sanctions and target Russia's foreign reserves.</p><p>Since February 22, Western countries have launched two waves of sanctions against Russia. On the evening of February 26, Western powers such as the United States, the European Union, the United Kingdom and Canada suddenly issued a joint statement announcing that the Russian Central Bank and several major Russian banks were prohibited from using the SWIFT system.</p><p>It is worth noting that Europe and the United States have included the Russian Central Bank in the \"SWIFT Strike List\". This is an extremely \"severe\" move to prevent the Russian Central Bank from using \"abundant\" foreign exchange reserves to reduce the effect of sanctions.</p><p>Michael S. Bernstam, a researcher at the Hoover Institution of Stanford University, previously published an article in the \"Capitol Hill\" saying that the threat of sanctions against the Russian central bank may prevent Russia's military actions and the outbreak of new wars in Europe.</p><p>Bernstam notes that Russia relies on its<a href=\"https://laohu8.com/S/CNBC\">Central Bank</a>$638 billion in foreign exchange reserves to shore up the exchange rate and stability of the national currency, the ruble, insuring the banking system and household deposits, preventing bank runs, bailing out foreign debts of state-owned and private enterprises, and managing $185 billion in sovereign wealth funds in response to fiscal emergencies.</p><p>But Russia will not obediently \"surrender\". Nowadays, Russia's foreign exchange reserves have been quite diversified and its dependence on the US dollar has been greatly reduced. Relying solely on attacking Russia's foreign reserves may not achieve the expected results of European and American countries.</p><p><b>Why is it so powerful?</b></p><p>According to Bernstam, a big reason is the combination of convertible currencies and the digitalization of international finance in the 21st century.</p><p>If Russia were a closed economy with non-convertible currencies like the now-defunct Soviet Union, its foreign exchange reserves would not be affected.</p><p>But in the 21st century, the Russian economy is open, the ruble is convertible, and both are backed by foreign reserves. But these reserves are largely electronic accounts of the Russian central bank in accounts with the Federal Reserve, the European Central Bank and similar Western institutions and clearing houses, without physical bonds and paper proofs.</p><p>According to this statement, government bonds and other securities in western countries, as well as sovereign deposits in western central banks and commercial banks, are dematerialized and undocumented.</p><p>For example, the U.S. Treasury Bond held by the central banks of 200 countries are only computerized accounts in the Federal Reserve Bank of new york, which are traded by dealers authorized by the Federal Reserve of new york, and the sales proceeds are electronically transmitted to correspondent banks through the Federal Reserve wire transfer and automated settlement system.</p><p><b>What are the risks for Russia?</b></p><p>From this perspective, Bernstam believes that if the Russian central bank is sanctioned, the US $638 billion in foreign exchange reserves will shrink to only their residual value. Of the $638 billion in foreign exchange reserves, only $12 billion is cash denominated in dollars and euros in the coffers of the Russian central bank. If the Russian central bank is sanctioned by the West, it will be difficult to sell all the $139 billion worth of gold in its reserves.</p><p>And about $403 billion-almost two-thirds of foreign exchange reserves-are securities and deposits denominated in dollars, euros, pounds and other Western currencies. If sanctions are imposed on the Russian central bank, Russia's $403 billion in foreign exchange electronic assets held in the West may become unavailable. Sanctions on the Russian central bank will bring foreign exchange runs, bank runs and supply chain runs.</p><p>Bernstam also pointed out that since only $12 billion is available to support the ruble, the ruble exchange rate will depreciate. People will use any foreign currency they can get at any price as a store of value.</p><p>Here's the problem.</p><p>Compared with the ruble, Russian households and businesses prefer foreign exchange. They hold $268 billion in deposits in state-owned savings banks and commercial banks, but they will run to the banks to withdraw dollars and euros.</p><p>And this cash is something that banks don't have on hand, nor can they get from central banks that don't have foreign exchange. Unless the government forcibly converts foreign exchange deposits into rubles, the banking system will suffer. Without access to sovereign wealth funds to support the government's social spending, the situation could be worse: across the supply chain, suppliers will claim dollars from customers, while efficient parts of the economy will be dollarized, while others will incur supply bottlenecks and factory shutdowns.</p><p>Taken together, Bernstam believes that imposing sanctions on the central bank is a considerable risk for Russia.</p><p><b>Russia's counterattack</b></p><p>In the face of financial sanctions from Europe and the United States and even prohibiting the Russian Central Bank and several major Russian banks from using the SWIFT system, Russia is not defenseless.</p><p>Since the financial crisis in 2008, in order to implement de-dollarization, Russia has formulated a complete strategy, and adopted de-dollarization measures such as reducing the direct use of the US dollar, reducing the proportion of foreign exchange reserves, substantially selling US Treasury Bond, expanding non-US dollar financing, increasing its holdings of gold, and establishing its own payment system and financial information exchange system.</p><p>A series of measures have not only improved the degree of de-dollarization, but also increased the financial system's ability to cope with risks.</p><p>It is worth mentioning that, unlike other countries in the world that store gold in the United States, Russia has no gold storage in the United States out of distrust of the United States, and Russian gold is stored in the warehouse of the Russian Central Bank in Moscow.</p><p>In addition, Russia has achieved good results in a series of aspects, such as expanding non-US dollar financing channels, currency swap and local currency settlement, and establishing its own payment system and financial information exchange system.</p><p>Nowadays, Russia's foreign exchange reserves have been quite diversified and its dependence on the US dollar has been greatly reduced. To a certain extent, sufficient preparations have helped Russia build a powerful financial \"fortress\".</p><p>At the same time, the Russian central bank also significantly raised the benchmark interest rate, prohibited foreigners from selling and forced foreign exchange sales.</p><p>On February 28, the Central Bank of Russia raised its key interest rate to 20%, the highest level in nearly two decades, compared with 9.5%.</p><p>The Russian central bank said that the external environment has changed dramatically, and rate hike is necessary to enhance the attractiveness of deposits. The Russian central bank said the rate hike was ready to take further measures to adjust interest rates in order to offset the depreciation of the ruble and increased inflation risks.</p><p>The Central Bank of Russia also announced the postponement of transactions in the foreign exchange and currency markets, where there will be no transactions or settlements of currency repurchases. The start time of trading in the stock, financial futures and derivative financial instrument markets will be announced separately. Earlier, the Central Bank of Russia announced that it would suspend securities dealers from accepting entrustments from foreign investors to sell Russian securities.</p><p>Shareholder benefits are here! Give you the top ten gold stocks! Click to view > ><img referrerpolicy=\"no-referrer\"/><img referrerpolicy=\"no-referrer\"/>Massive information and accurate interpretation, all in<a href=\"https://laohu8.com/S/SINA\">SINA</a>Finance APP</p><p>Editor in charge: Liu Xuanyi</p><p></body></html></p>","source":"highlight_wallstreetcn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>European and American sanctions target Russia's foreign reserves. How big is the impact?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEuropean and American sanctions target Russia's foreign reserves. How big is the impact?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2022-02-28 23:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>The situation between Russia and Ukraine is in full swing, while Western countries continue to escalate sanctions and target Russia's foreign reserves.</p><p>Since February 22, Western countries have launched two waves of sanctions against Russia. On the evening of February 26, Western powers such as the United States, the European Union, the United Kingdom and Canada suddenly issued a joint statement announcing that the Russian Central Bank and several major Russian banks were prohibited from using the SWIFT system.</p><p>It is worth noting that Europe and the United States have included the Russian Central Bank in the \"SWIFT Strike List\". This is an extremely \"severe\" move to prevent the Russian Central Bank from using \"abundant\" foreign exchange reserves to reduce the effect of sanctions.</p><p>Michael S. Bernstam, a researcher at the Hoover Institution of Stanford University, previously published an article in the \"Capitol Hill\" saying that the threat of sanctions against the Russian central bank may prevent Russia's military actions and the outbreak of new wars in Europe.</p><p>Bernstam notes that Russia relies on its<a href=\"https://laohu8.com/S/CNBC\">Central Bank</a>$638 billion in foreign exchange reserves to shore up the exchange rate and stability of the national currency, the ruble, insuring the banking system and household deposits, preventing bank runs, bailing out foreign debts of state-owned and private enterprises, and managing $185 billion in sovereign wealth funds in response to fiscal emergencies.</p><p>But Russia will not obediently \"surrender\". Nowadays, Russia's foreign exchange reserves have been quite diversified and its dependence on the US dollar has been greatly reduced. Relying solely on attacking Russia's foreign reserves may not achieve the expected results of European and American countries.</p><p><b>Why is it so powerful?</b></p><p>According to Bernstam, a big reason is the combination of convertible currencies and the digitalization of international finance in the 21st century.</p><p>If Russia were a closed economy with non-convertible currencies like the now-defunct Soviet Union, its foreign exchange reserves would not be affected.</p><p>But in the 21st century, the Russian economy is open, the ruble is convertible, and both are backed by foreign reserves. But these reserves are largely electronic accounts of the Russian central bank in accounts with the Federal Reserve, the European Central Bank and similar Western institutions and clearing houses, without physical bonds and paper proofs.</p><p>According to this statement, government bonds and other securities in western countries, as well as sovereign deposits in western central banks and commercial banks, are dematerialized and undocumented.</p><p>For example, the U.S. Treasury Bond held by the central banks of 200 countries are only computerized accounts in the Federal Reserve Bank of new york, which are traded by dealers authorized by the Federal Reserve of new york, and the sales proceeds are electronically transmitted to correspondent banks through the Federal Reserve wire transfer and automated settlement system.</p><p><b>What are the risks for Russia?</b></p><p>From this perspective, Bernstam believes that if the Russian central bank is sanctioned, the US $638 billion in foreign exchange reserves will shrink to only their residual value. Of the $638 billion in foreign exchange reserves, only $12 billion is cash denominated in dollars and euros in the coffers of the Russian central bank. If the Russian central bank is sanctioned by the West, it will be difficult to sell all the $139 billion worth of gold in its reserves.</p><p>And about $403 billion-almost two-thirds of foreign exchange reserves-are securities and deposits denominated in dollars, euros, pounds and other Western currencies. If sanctions are imposed on the Russian central bank, Russia's $403 billion in foreign exchange electronic assets held in the West may become unavailable. Sanctions on the Russian central bank will bring foreign exchange runs, bank runs and supply chain runs.</p><p>Bernstam also pointed out that since only $12 billion is available to support the ruble, the ruble exchange rate will depreciate. People will use any foreign currency they can get at any price as a store of value.</p><p>Here's the problem.</p><p>Compared with the ruble, Russian households and businesses prefer foreign exchange. They hold $268 billion in deposits in state-owned savings banks and commercial banks, but they will run to the banks to withdraw dollars and euros.</p><p>And this cash is something that banks don't have on hand, nor can they get from central banks that don't have foreign exchange. Unless the government forcibly converts foreign exchange deposits into rubles, the banking system will suffer. Without access to sovereign wealth funds to support the government's social spending, the situation could be worse: across the supply chain, suppliers will claim dollars from customers, while efficient parts of the economy will be dollarized, while others will incur supply bottlenecks and factory shutdowns.</p><p>Taken together, Bernstam believes that imposing sanctions on the central bank is a considerable risk for Russia.</p><p><b>Russia's counterattack</b></p><p>In the face of financial sanctions from Europe and the United States and even prohibiting the Russian Central Bank and several major Russian banks from using the SWIFT system, Russia is not defenseless.</p><p>Since the financial crisis in 2008, in order to implement de-dollarization, Russia has formulated a complete strategy, and adopted de-dollarization measures such as reducing the direct use of the US dollar, reducing the proportion of foreign exchange reserves, substantially selling US Treasury Bond, expanding non-US dollar financing, increasing its holdings of gold, and establishing its own payment system and financial information exchange system.</p><p>A series of measures have not only improved the degree of de-dollarization, but also increased the financial system's ability to cope with risks.</p><p>It is worth mentioning that, unlike other countries in the world that store gold in the United States, Russia has no gold storage in the United States out of distrust of the United States, and Russian gold is stored in the warehouse of the Russian Central Bank in Moscow.</p><p>In addition, Russia has achieved good results in a series of aspects, such as expanding non-US dollar financing channels, currency swap and local currency settlement, and establishing its own payment system and financial information exchange system.</p><p>Nowadays, Russia's foreign exchange reserves have been quite diversified and its dependence on the US dollar has been greatly reduced. To a certain extent, sufficient preparations have helped Russia build a powerful financial \"fortress\".</p><p>At the same time, the Russian central bank also significantly raised the benchmark interest rate, prohibited foreigners from selling and forced foreign exchange sales.</p><p>On February 28, the Central Bank of Russia raised its key interest rate to 20%, the highest level in nearly two decades, compared with 9.5%.</p><p>The Russian central bank said that the external environment has changed dramatically, and rate hike is necessary to enhance the attractiveness of deposits. The Russian central bank said the rate hike was ready to take further measures to adjust interest rates in order to offset the depreciation of the ruble and increased inflation risks.</p><p>The Central Bank of Russia also announced the postponement of transactions in the foreign exchange and currency markets, where there will be no transactions or settlements of currency repurchases. The start time of trading in the stock, financial futures and derivative financial instrument markets will be announced separately. Earlier, the Central Bank of Russia announced that it would suspend securities dealers from accepting entrustments from foreign investors to sell Russian securities.</p><p>Shareholder benefits are here! Give you the top ten gold stocks! Click to view > ><img referrerpolicy=\"no-referrer\"/><img referrerpolicy=\"no-referrer\"/>Massive information and accurate interpretation, all in<a href=\"https://laohu8.com/S/SINA\">SINA</a>Finance APP</p><p>Editor in charge: Liu Xuanyi</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3652988\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/93c3dba7c4b0e443e40fe6df5639434d","relate_stocks":{"159934":"黄金ETF","161125":"标普500","513500":"标普500ETF博时","518880":"黄金ETF","EUO":"欧元ETF-ProShares两倍做空","UPRO":"三倍做多标普500ETF-ProShares","NUGT":"二倍做多黄金矿业指数ETF-Direxion","QLD":"2倍做多纳斯达克100指数ETF-ProShares","GDX":"黄金矿业ETF-VanEck","DDM":"2倍做多道指ETF-ProShares","OEF":"标普100指数ETF-iShares","DJX":"1/100道琼斯","SH":"做空标普500-Proshares","SQQQ":"纳指三倍做空ETF","SDOW":"三倍做空道指30ETF-ProShares","FXE":"欧元做多ETF-CurrencyShares","DUST":"二倍做空黄金矿业指数ETF-Direxion","BK4534":"瑞士信贷持仓",".DJI":"道琼斯","SDS":"两倍做空标普500 ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","TQQQ":"纳指三倍做多ETF","GLD":"黄金ETF-SPDR",".IXIC":"NASDAQ Composite","SSO":"2倍做多标普500ETF-ProShares",".SPX":"S&P 500 Index","DXD":"两倍做空道琼30指数ETF-ProShares","DOG":"道指ETF-ProShares做空","QQQ":"纳指100ETF","SPY":"标普500ETF","UDOW":"三倍做多道指30ETF-ProShares","BK4559":"巴菲特持仓","BK4504":"桥水持仓","BK4550":"红杉资本持仓","IVV":"标普500ETF-iShares"},"source_url":"https://wallstreetcn.com/articles/3652988","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"2214161887","content_text":"俄乌局势如火如荼，而西方国家不断升级制裁，裁剑指俄罗斯外储。2月22日开始，西方各国对俄罗斯先后发起了两波制裁。2月26日晚间，美国、欧盟、英国和加拿大等西方大国突然发表联合声明，宣布禁止俄罗斯央行及几家俄主要银行使用SWIFT系统。值得注意的是，欧美在“SWIFT打击名单”中带上了俄央行，这是极其“严厉”的一招，目的在于防止俄罗斯央行通过动用“充裕的”外汇储备来降低制裁效果。斯坦福大学胡佛研究所研究员Michael S． Bernstam此前在《国会山报》刊文表示，对俄罗斯央行制裁的威胁，可能阻止俄罗斯的军事行动和在欧洲爆发新的战争。Bernstam指出，俄罗斯依赖其中央银行6380亿美元的外汇储备来支撑国家货币卢布的汇率和稳定，为银行系统和家庭存款提供保险，防止银行挤兑，救助国有和私营企业的外债，并管理1850亿美元的主权财富基金以应对财政紧急情况。但俄罗斯也不会乖乖“束手就擒”。如今俄罗斯的外汇储备已相当多元化、对美元依赖程度已大幅降低。仅仅依靠攻击俄罗斯的外储，未必能达到欧美国家预期的效果。为什么会有如此大的威力？Bernstam表示，一个重要原因是21世纪可兑换货币和国际金融数字化的结合。如果俄罗斯是一个像现已解体的苏联那样拥有不可兑换货币的封闭经济体，那么它的外汇储备将不会受到影响。但在21世纪，俄罗斯经济是开放的，卢布是可兑换的，两者都有外汇储备的支持。但这些储备主要是俄罗斯央行在美联储、欧洲央行以及类似的西方机构和清算机构的账户中的电子账目，没有实物债券和纸质证明。按照这种说法，西方国家的政府债券和其他证券，以及在西方中央银行和商业银行的主权存款，都是非实物化和无纸质证明的。例如，由200个国家的中央银行持有的美国国债在纽约联邦储备银行中仅是电脑上的账目，由纽约联储授权的交易商进行交易，销售收益通过美联储电汇和自动结算系统以电子方式传输到代理银行。　对俄罗斯来说，风险有多大？Bernstam认为，从这个角度来看，如果俄罗斯央行受到制裁，6380亿美元的外汇储备就会缩水到仅剩其残值。在6380亿美元的外汇储备中，只有120亿美元是俄罗斯央行金库中以美元和欧元计价的现金。而俄罗斯央行受到西方制裁的话，储备中价值1390亿美元的黄金将很难全部出售。而大约4030亿美元——几乎是外汇储备的三分之二，是以美元、欧元、英镑和其他西方货币计价的证券和存款。如果对俄罗斯央行实施制裁，俄罗斯在西方持有的4030亿美元外汇电子资产可能无法使用。对俄罗斯央行的制裁会带来外汇挤兑、银行挤兑和供应链挤兑。Bernstam还指出，由于只有120亿美元可用来支撑卢布，卢布汇率将会贬值。人们会用他们能以任何价格获得的任何外币作为价值储存手段。问题就在这里。与卢布相比，俄罗斯家庭和企业更青睐外汇，他们在国有储蓄银行和商业银行持有2680亿美元的存款，但他们会跑到银行来提取美元和欧元。而这些现金是银行手头没有的，也无法从没有外汇的央行那里获得。除非政府强行将外汇存款兑换成卢布，否则银行系统将会遭受冲击。由于无法获得主权财富基金来支持政府的社会支出，情况可能会更加严重：在整个供应链上，供应商将从客户那里索取美元，而经济中的有效部分将美元化，而其他部分将招致供应瓶颈和工厂停工。综上来看，Bernstam认为，对央行实施制裁对俄罗斯来说是相当大的风险。　俄罗斯的反击面对欧美的金融制裁甚至是禁止俄罗斯央行及几家俄主要银行使用SWIFT系统，俄罗斯也并不是毫无防备。2008年金融危机以来，为实施去美元化，俄罗斯制定了完整的策略，采取了减少美元直接使用、降低在外汇储备中的比例、大幅抛售美国国债、拓展非美元融资、增持黄金、建立本国的支付系统和金融信息交换系统等去美元化措施。一系列举措不仅提高了去美元化程度，同时也增使得金融系统应对风险能力不断增强。值得一提的是，不同于世界上其他国家将黄金储存在美国，出于对美国的不信任，俄罗斯在美国没有黄金储存，俄罗斯的黄金都储藏在俄央行在莫斯科的仓库里。此外，俄罗斯在拓展非美元融资渠道、货币互换与本币结算、建立本国的支付系统和金融信息交换系统等一系列方面皆收到了不错的成效。如今俄罗斯的外汇储备已相当多元化、对美元依赖程度已大幅降低。一定程度上，充足的准备帮助俄罗斯构建起了强大的金融“要塞”。与此同时，俄罗斯央行还大幅提高了基准利率，禁止外国人抛售，强制售汇。2月28日，俄罗斯央行将关键利率提升至20%，为近二十年来的最高水平，前值为9.5%。俄罗斯央行表示，外部环境发生了巨大变化，有必要加息以增强存款的吸引力。俄罗斯央行称，加息是为了抵消卢布贬值和通胀风险的增加，已准备好采取进一步措施调整利率。俄罗斯央行还宣布推迟外汇和货币市场的交易，货币市场上将不会进行货币回购的交易或结算。股票、金融期货和衍生金融工具市场的交易开始时间将另行公布。此前，俄罗斯央行宣布暂停证券交易商接受外国投资者关于出售俄罗斯有价证券的委托。股民福利来了！送您十大金股！点击查看>>海量资讯、精准解读，尽在新浪财经APP责任编辑：刘玄逸","news_type":1,"symbols_score_info":{"159934":0.6,"161125":0.6,"513500":0.6,"518880":0.6,"DOG":0.6,"MNQmain":0.6,"ZNmain":0.64,"SQQQ":0.6,"EUO":0.6,"UBmain":0.64,".DJI":0.9,"QQQ":0.6,"ZBmain":0.64,"DUST":0.6,"GCmain":0.9,"SDS":0.6,"UPRO":0.6,"TNmain":0.64,"SH":0.6,"TQQQ":0.6,"UDOW":0.6,"DXD":0.6,"SDOW":0.6,"SGUmain":0.6,"FXE":0.6,"DJX":0.6,"MEURmain":0.6,"DDM":0.6,"ZTmain":0.64,"NUGT":0.6,"OEF":0.6,"SPY":0.86,"SGCmain":0.6,"EURmain":0.9,"GLD":0.6,"IVV":0.6,".SPX":0.6,"MGCmain":0.6,"QLD":0.6,"GDX":0.6,"NQmain":0.6,"PSQ":0.6,"ESmain":0.6,"ZFmain":0.64,".IXIC":0.9,"SSO":0.6}},"isVote":1,"tweetType":1,"viewCount":4150,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039856368,"gmtCreate":1646007587578,"gmtModify":1676534081130,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039856368","repostId":"2214132600","repostType":4,"isVote":1,"tweetType":1,"viewCount":4363,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039363730,"gmtCreate":1645926622918,"gmtModify":1676534075158,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039363730","repostId":"1105748308","repostType":4,"repost":{"id":"1105748308","kind":"news","pubTimestamp":1645863456,"share":"https://ttm.financial/m/news/1105748308?lang=en_US&edition=fundamental","pubTime":"2022-02-26 16:17","market":"us","language":"zh","title":"TikTok e-commerce's GMV will reach a maximum of about 6 billion in 2021, and its goal will double this year","url":"https://stock-news.laohu8.com/highlight/detail?id=1105748308","media":"36氪","summary":"TikTok电商2022年GMV目标接近120亿元，在2021年的基础上翻了接近一倍。","content":"<p><html><head></head><body>36Kr learned from multiple sources that the maximum GMV of TikTok e-commerce in 2021 will be about 6 billion yuan, of which more than 70% of GMV will come from Indonesia, and the remaining less than 30% will come from the United Kingdom. 36 Krypton also learned that the GMV target of TikTok e-commerce in 2022 is close to 12 billion yuan, which has nearly doubled on the basis of 2021.</p><p>36Kr asked ByteDance for verification of this news, but as of press time, the other party has not responded.</p><p>In contrast, Douyin e-commerce, as ByteDance's domestic e-commerce business, achieved about 500 billion GMV in 2020 at the beginning of its establishment. According to 36 Krypton, the wide-caliber GMV of Douyin e-commerce in 2021 will reach nearly one trillion.</p><p>After the same year of operation, the GMV of TikTok e-commerce last year was only 1% of that of Douyin e-commerce in 2020, and of this 1%, most of the GMV was contributed by the Indonesian market. The ceiling of the European and American markets represented by the UK is higher, and it is also more It is valued by TikTok officials, but has not achieved significant results.</p><p>In April 2021, TikTok started with Indonesia and the United Kingdom to test the live broadcast e-commerce business, launched the live broadcast shopping small yellow car function, and ran the entire cross-border e-commerce process from marketing, sales to logistics, after-sales customer service, etc. in the above two places.</p><p>A person close to TikTok e-commerce told 36Kr that at a review meeting at the end of last year, the relevant person in charge said that Indonesian GMV accounted for more than 70%. A medium-sized live broadcast room in China. Internally, it is believed that the Indonesian market performed relatively successfully last year and plans to increase resource investment.</p><p>The Indonesian market can achieve remarkable results after testing the waters for one year, which is related to the scale and maturity of the local e-commerce market. According to data from research firm Momentum Works, Indonesia's e-commerce sales in 2020 were US $32.2 billion, ranking fourth in the world after China, South Korea and the United Kingdom, and it is the largest e-commerce market in Southeast Asia. And e-commerce sales only accounted for 20% of Indonesia's total retail sales that year. According to SenseTower data, TikTok has about 200 million user downloads in Indonesia, accounting for more than 40% of the entire Southeast Asia region.</p><p>In addition to its large market size, Indonesia is also a country with relatively complete e-commerce infrastructure in Southeast Asia. OVO has more than 20 million monthly active users, forming the four mainstream mobile payment channels together with Dana, LinkAja and Shopee Pay. In addition to payment, Indonesia's logistics and network facilities can also meet the needs of live e-commerce.</p><p>Southeast Asia is also the first market successfully entered by Chinese e-commerce companies. Ali first acquired Lazada in 2016 to lay out the Southeast Asian e-commerce market, relying on strong strategies such as free shipping and strong marketing strategies. Shopee, backed by Tencent, surpassed Lazada in 2019 to become Southeast Asia. The largest e-commerce platform, by drawing on domestic e-commerce experience, the two platforms have initially completed consumer education and cultivated the online shopping habits of Indonesian users.</p><p>Compared with Indonesia, there has been no Chinese e-commerce platform in the UK before, and it has no advantages in logistics, supply chain, etc. It still takes time to cultivate local users' live shopping habits.</p><p>A TikTok service provider told 36Kr that the team's current live broadcast room GMV in the UK is mainly driven by the 3C category officially subsidized by TikTok, and an iPhone can receive a subsidy of up to 20%.</p><p>In addition to platform subsidies, TikTok also implements a three-month free delivery subsidy for new merchants. On the logistics side, platforms such as Amazon have achieved one-day and next-day delivery in the UK, but the above-mentioned service providers said that the logistics services used by TikTok require a delivery cycle of as little as one week to as much as ten days, and package loss and damage also occur from time to time.</p><p>According to 36 Krypton, TikTok e-commerce plans to enter major mainstream markets in the next five years, reaching a scale of 100 billion US dollars. The market size in Southeast Asia is limited, and the key to achieving this goal lies in whether it can successfully open up the European and American markets. The temporary obstruction in the UK has forced TikTok to rethink its operating strategy in the European and American markets this year. Due to policy reasons, TikTok did not open the shopping yellow cart function required for live broadcast e-commerce in the United States last year. This year, TikTok plans to ensure data compliance. Open live e-commerce functions on the basis.</p><p>36Kr learned that after March this year, TikTok will also open its live broadcast e-commerce business in more Southeast Asian and Western European countries around Indonesia and the United Kingdom.</p><p>In response to the challenge of opening up more national markets this year, TikTok is replenishing supply chain capabilities. A person close to TikTok e-commerce told 36Kr that Kang Zeyu, the head of TikTok e-commerce, has been focusing on investigating factories and industrial belts in Jiangsu, Zhejiang, South China and other places in the past six months, trying to establish a \"selected alliance\" similar to Douyin e-commerce within TikTok. Anchor merchant selection channel.</p><p>However, the goods selection logic of cross-border e-commerce is very different from that of domestic live broadcast e-commerce. A senior cross-border e-commerce practitioner believes that the current consumption of e-commerce advertisements on TikTok, especially performance advertisements, is mainly a group of Chinese overseas brands and MCNs. Their overall advertising consumption is not large, but they are really selling goods. TikTok has not been able to leverage Chinese cross-border sellers, international brands, and local brands, and they will become the hard bones that TikTok needs to chew this year.</p><p>Like Douyin e-commerce, the advertising value created by e-commerce will also become the most important growth point of TikTok in the future. According to 36 Krypton, TikTok's main monetization at this stage comes from games. Last year, the advertising revenue from the game industry accounted for 50% above, the proportion of e-commerce is very low. The development of e-commerce business will help more big brands and big seller customers spend their advertising budgets on TikTok.</p><p>It is rumored that cross-border e-commerce makes money by selling popular products. Once the product is sold out, it needs sufficient supply of goods and strong supply chain negotiation ability as support. TikTok's advantage lies in traffic, but how to create popular products and how to undertake the benefits brought by popular products. Supply chain pressure, there has not yet been a case of explosive products that is enough to make these cross-border merchants greedy.</p><p>On the logistics side, there are market rumors that ByteDance is negotiating cooperation with Jitu, but ByteDance said that the news is untrue. However, whether it is competing with Shopee and Lazada in the Southeast Asian market, or competing with Amazon in the European and American markets, TikTok's existing logistics capabilities are not enough to support long-term competition with competitors, and it is imperative to cooperate with logistics companies with stronger comprehensive strength.</p><p></body></html></p>","source":"36k","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>TikTok e-commerce's GMV will reach a maximum of about 6 billion in 2021, and its goal will double this year</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTikTok e-commerce's GMV will reach a maximum of about 6 billion in 2021, and its goal will double this year\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">36氪</strong><span class=\"h-time small\">2022-02-26 16:17</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>36Kr learned from multiple sources that the maximum GMV of TikTok e-commerce in 2021 will be about 6 billion yuan, of which more than 70% of GMV will come from Indonesia, and the remaining less than 30% will come from the United Kingdom. 36 Krypton also learned that the GMV target of TikTok e-commerce in 2022 is close to 12 billion yuan, which has nearly doubled on the basis of 2021.</p><p>36Kr asked ByteDance for verification of this news, but as of press time, the other party has not responded.</p><p>In contrast, Douyin e-commerce, as ByteDance's domestic e-commerce business, achieved about 500 billion GMV in 2020 at the beginning of its establishment. According to 36 Krypton, the wide-caliber GMV of Douyin e-commerce in 2021 will reach nearly one trillion.</p><p>After the same year of operation, the GMV of TikTok e-commerce last year was only 1% of that of Douyin e-commerce in 2020, and of this 1%, most of the GMV was contributed by the Indonesian market. The ceiling of the European and American markets represented by the UK is higher, and it is also more It is valued by TikTok officials, but has not achieved significant results.</p><p>In April 2021, TikTok started with Indonesia and the United Kingdom to test the live broadcast e-commerce business, launched the live broadcast shopping small yellow car function, and ran the entire cross-border e-commerce process from marketing, sales to logistics, after-sales customer service, etc. in the above two places.</p><p>A person close to TikTok e-commerce told 36Kr that at a review meeting at the end of last year, the relevant person in charge said that Indonesian GMV accounted for more than 70%. A medium-sized live broadcast room in China. Internally, it is believed that the Indonesian market performed relatively successfully last year and plans to increase resource investment.</p><p>The Indonesian market can achieve remarkable results after testing the waters for one year, which is related to the scale and maturity of the local e-commerce market. According to data from research firm Momentum Works, Indonesia's e-commerce sales in 2020 were US $32.2 billion, ranking fourth in the world after China, South Korea and the United Kingdom, and it is the largest e-commerce market in Southeast Asia. And e-commerce sales only accounted for 20% of Indonesia's total retail sales that year. According to SenseTower data, TikTok has about 200 million user downloads in Indonesia, accounting for more than 40% of the entire Southeast Asia region.</p><p>In addition to its large market size, Indonesia is also a country with relatively complete e-commerce infrastructure in Southeast Asia. OVO has more than 20 million monthly active users, forming the four mainstream mobile payment channels together with Dana, LinkAja and Shopee Pay. In addition to payment, Indonesia's logistics and network facilities can also meet the needs of live e-commerce.</p><p>Southeast Asia is also the first market successfully entered by Chinese e-commerce companies. Ali first acquired Lazada in 2016 to lay out the Southeast Asian e-commerce market, relying on strong strategies such as free shipping and strong marketing strategies. Shopee, backed by Tencent, surpassed Lazada in 2019 to become Southeast Asia. The largest e-commerce platform, by drawing on domestic e-commerce experience, the two platforms have initially completed consumer education and cultivated the online shopping habits of Indonesian users.</p><p>Compared with Indonesia, there has been no Chinese e-commerce platform in the UK before, and it has no advantages in logistics, supply chain, etc. It still takes time to cultivate local users' live shopping habits.</p><p>A TikTok service provider told 36Kr that the team's current live broadcast room GMV in the UK is mainly driven by the 3C category officially subsidized by TikTok, and an iPhone can receive a subsidy of up to 20%.</p><p>In addition to platform subsidies, TikTok also implements a three-month free delivery subsidy for new merchants. On the logistics side, platforms such as Amazon have achieved one-day and next-day delivery in the UK, but the above-mentioned service providers said that the logistics services used by TikTok require a delivery cycle of as little as one week to as much as ten days, and package loss and damage also occur from time to time.</p><p>According to 36 Krypton, TikTok e-commerce plans to enter major mainstream markets in the next five years, reaching a scale of 100 billion US dollars. The market size in Southeast Asia is limited, and the key to achieving this goal lies in whether it can successfully open up the European and American markets. The temporary obstruction in the UK has forced TikTok to rethink its operating strategy in the European and American markets this year. Due to policy reasons, TikTok did not open the shopping yellow cart function required for live broadcast e-commerce in the United States last year. This year, TikTok plans to ensure data compliance. Open live e-commerce functions on the basis.</p><p>36Kr learned that after March this year, TikTok will also open its live broadcast e-commerce business in more Southeast Asian and Western European countries around Indonesia and the United Kingdom.</p><p>In response to the challenge of opening up more national markets this year, TikTok is replenishing supply chain capabilities. A person close to TikTok e-commerce told 36Kr that Kang Zeyu, the head of TikTok e-commerce, has been focusing on investigating factories and industrial belts in Jiangsu, Zhejiang, South China and other places in the past six months, trying to establish a \"selected alliance\" similar to Douyin e-commerce within TikTok. Anchor merchant selection channel.</p><p>However, the goods selection logic of cross-border e-commerce is very different from that of domestic live broadcast e-commerce. A senior cross-border e-commerce practitioner believes that the current consumption of e-commerce advertisements on TikTok, especially performance advertisements, is mainly a group of Chinese overseas brands and MCNs. Their overall advertising consumption is not large, but they are really selling goods. TikTok has not been able to leverage Chinese cross-border sellers, international brands, and local brands, and they will become the hard bones that TikTok needs to chew this year.</p><p>Like Douyin e-commerce, the advertising value created by e-commerce will also become the most important growth point of TikTok in the future. According to 36 Krypton, TikTok's main monetization at this stage comes from games. Last year, the advertising revenue from the game industry accounted for 50% above, the proportion of e-commerce is very low. The development of e-commerce business will help more big brands and big seller customers spend their advertising budgets on TikTok.</p><p>It is rumored that cross-border e-commerce makes money by selling popular products. Once the product is sold out, it needs sufficient supply of goods and strong supply chain negotiation ability as support. TikTok's advantage lies in traffic, but how to create popular products and how to undertake the benefits brought by popular products. Supply chain pressure, there has not yet been a case of explosive products that is enough to make these cross-border merchants greedy.</p><p>On the logistics side, there are market rumors that ByteDance is negotiating cooperation with Jitu, but ByteDance said that the news is untrue. However, whether it is competing with Shopee and Lazada in the Southeast Asian market, or competing with Amazon in the European and American markets, TikTok's existing logistics capabilities are not enough to support long-term competition with competitors, and it is imperative to cooperate with logistics companies with stronger comprehensive strength.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://36kr.com/p/1626056933176837\">36氪</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1bf636ec8cc0b56a010568ee2f383262","relate_stocks":{"BK1590":"短视频概念股"},"source_url":"https://36kr.com/p/1626056933176837","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105748308","content_text":"36氪从多个信源处了解到，TikTok电商2021年GMV最高约60亿元，其中GMV占比约70%以上来自印度尼西亚，剩余不到30%来自英国。36氪另外了解到，TikTok电商2022年GMV目标接近120亿元，在2021年的基础上翻了接近一倍。36氪就此消息向字节跳动方面求证，截至发稿对方暂无回应。相比之下，抖音电商作为字节跳动在国内的电商业务，在成立之初的2020年便实现了约5000亿GMV。据36氪了解，抖音电商2021年宽口径GMV更是达到了近万亿。同样运作一年时间，TikTok电商去年的GMV只有抖音电商2020年的1%，而这1%中，绝大部分GMV又由印尼市场贡献，英国所代表欧美市场天花板更高，也更被TikTok官方所重视，却并没有取得显著成绩。2021年4月， TikTok以印尼、英国为起点试水直播电商业务，开通直播购物小黄车功能，并在上述两地跑通从营销、销售到物流、售后客服等跨境电商全流程。一位接近TikTok电商的人士告诉36氪，在去年年底的一次复盘会上，相关负责人表示印尼其GMV占比达到70%以上，相比之下，英国一天的GMV体量大约只相当于国内一个中型的直播间。内部认为印尼市场去年表现较为成功，并计划加大资源投入。印尼市场试水一年便能取得显著成绩，这与当地电商市场具备规模且成熟有关。研究机构Momentum Works数据显示，2020年印尼电商销售额322亿美元，仅次于中国、韩国和英国在全球排名第四，为东南亚地区最大的电商市场。且电商销售额只占印尼当年零售总额的20%。据SenseTower数据，TikTok在印尼约有2亿用户下载量，占到整个东南亚地区40%以上。除了市场规模大，印尼也是东南亚地区电商基础设施较为完善的国家。OVO 月活用户超过 2000 万，与 Dana、LinkAja 和 Shopee Pay构成四大主流移动支付渠道。除了支付，印尼的物流和网络设施也能满足直播电商的需求。东南亚也是中国电商公司最先成功进入的市场，阿里最早于2016年通过收购Lazada布局东南亚电商市场，依靠包邮和强营销策略等强势打法，背靠腾讯的Shopee于 2019 年超越Lazada成为东南亚第一大电商平台，通过借鉴国内电商经验，两大平台初步完成了消费者教育并培养了印尼用户的线上购物习惯。相比印尼，英国地区此前没有中国电商平台进入，在物流、供应链等方面都没有均没有优势，培养当地的用户直播购物习惯仍需时间。一位TikTok服务商告诉36氪，团队目前在英国地区的直播间GMV主要靠TikTok官方补贴的3C品类拉动，一部iPhone能给到高达20%的补贴。除了平台补贴，TikTok还对新入驻的商家实行三个月免费发货补贴。在物流端，亚马逊等平台已经在英国实现一日达、次日达，但上述服务商表示，TikTok所使用的物流服务则需要少则一星期，多则十几天的发货周期，丢包和损坏的情况也时有发生。据36氪了解，TikTok电商计划在未来五年内进入各大主流市场，达到千亿美金规模。东南亚的市场规模有限，实现这一目标的关键正在于能否成功打开欧美市场。英国暂时受阻使得TikTok今年不得不重新思考在欧美市场的运营策略，由于政策原因，TikTok去年并未在美国开放直播电商所需的购物小黄车功能，今年TikTok计划在保证数据合规的基础上开放直播电商功能。36氪了解到，今年3月后，TikTok还将围绕印尼和英国两地，在更多东南亚和西欧国家开放直播电商业务。为了应对今年开拓更多国家市场的挑战，TikTok正在补足供应链能力。一位接近TikTok电商的人士告诉36氪，TikTok电商负责人康泽宇最近半年正在重点调研江浙、华南等地的工厂和产业带，试图在TikTok内建立类似抖音电商”精选联盟”的主播商家选货渠道。但跨境电商的选货逻辑与国内直播电商有很大差异。一位跨境电商资深从业者认为，目前在TikTok上消耗电商广告，尤其是效果广告的主要是一批中国出海品牌以及MCN，他们的广告消耗总体量不大，反而是真正有卖货刚需的中国跨境卖家以及国际品牌、本土品牌，TikTok还没能撬动，而他们会成为TikTok今年需要啃下的硬骨头。与抖音电商一样，电商所创造的广告价值也将成为TikTok未来最重要的增长点，据36氪了解，TikTok现阶段主要变现来自游戏，去年来自游戏行业的广告营收占到50%以上，电商的占比则很低。发展电商业务将有助于更多大品牌、大卖家客户在TikTok消耗广告预算。传跨境电商以打爆款赚钱，产品一旦卖爆，需要充足的货源和强势的供应链谈判能力作为支撑，TikTok的优势在于流量，但如何打造爆款，如何承接爆款所带来的供应链压力，目前尚未出现足以让这批跨境商家眼馋的爆款案例。在物流侧，市场传闻字节跳动正在与极兔谈判合作，对此字节跳动表示消息不实。不过，无论是在东南亚市场和Shopee、Lazada竞争，还是在欧美市场和亚马逊竞争，TikTok现有的物流能力都不足以支撑与对手长期抗衡，与综合实力更强的物流公司合作势在必行。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3858,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039027196,"gmtCreate":1645848032425,"gmtModify":1676534070324,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039027196","repostId":"1188917647","repostType":4,"isVote":1,"tweetType":1,"viewCount":1033,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030240685,"gmtCreate":1645747038816,"gmtModify":1676534059566,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Oop","listText":"Oop","text":"Oop","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030240685","repostId":"1134472791","repostType":4,"repost":{"id":"1134472791","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1645716555,"share":"https://ttm.financial/m/news/1134472791?lang=en_US&edition=fundamental","pubTime":"2022-02-24 23:29","market":"other","language":"zh","title":"U.S. bank stocks plummeted, Deutsche Bank fell more than 11%","url":"https://stock-news.laohu8.com/highlight/detail?id=1134472791","media":"老虎资讯综合","summary":"2月24日，美股银行股大跌，德意志银行跌超11%，荷兰国际跌超8%，巴克莱银行、桑坦德银行、瑞银跌逾7%，汇丰控股跌6%，花旗、摩根大通跌逾3%","content":"<p><html><head></head><body>On February 24, U.S. bank stocks fell sharply.<a href=\"https://laohu8.com/S/DB\">Deutsche Bank</a>Fell more than 11%,<a href=\"https://laohu8.com/S/ING\">Dutch International</a>Fell more than 8%,<a href=\"https://laohu8.com/S/BCS\">Barclays Bank</a>、<a href=\"https://laohu8.com/S/SAN\">Banco Santander</a>、<a href=\"https://laohu8.com/S/UBS\">UBS</a>Fell more than 7%,<a href=\"https://laohu8.com/S/HBC\">HSBC Holdings</a>Down 6%,<a href=\"https://laohu8.com/S/C\">Citigroup</a>、<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>Fell more than 3%</p><p><img src=\"https://static.tigerbbs.com/14e31640d8025901480da8fd9aa208ba\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. bank stocks plummeted, Deutsche Bank fell more than 11%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ 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bank stocks plummeted, Deutsche Bank fell more than 11%\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-02-24 23:29</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On February 24, U.S. bank stocks fell sharply.<a href=\"https://laohu8.com/S/DB\">Deutsche Bank</a>Fell more than 11%,<a href=\"https://laohu8.com/S/ING\">Dutch International</a>Fell more than 8%,<a href=\"https://laohu8.com/S/BCS\">Barclays Bank</a>、<a href=\"https://laohu8.com/S/SAN\">Banco Santander</a>、<a href=\"https://laohu8.com/S/UBS\">UBS</a>Fell more than 7%,<a href=\"https://laohu8.com/S/HBC\">HSBC Holdings</a>Down 6%,<a href=\"https://laohu8.com/S/C\">Citigroup</a>、<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>Fell more than 3%</p><p><img src=\"https://static.tigerbbs.com/14e31640d8025901480da8fd9aa208ba\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/4258cd0edd20f0c6d2f9cff3da54a1b4","relate_stocks":{"0H7D.UK":"德意志银行","BK4552":"Archegos爆仓风波概念","DB":"德意志银行","BK4118":"综合性资本市场","BK4566":"资本集团"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134472791","content_text":"2月24日，美股银行股大跌，德意志银行跌超11%，荷兰国际跌超8%，巴克莱银行、桑坦德银行、瑞银跌逾7%，汇丰控股跌6%，花旗、摩根大通跌逾3%","news_type":1,"symbols_score_info":{"0H7D.UK":0.9,"DB":0.9}},"isVote":1,"tweetType":1,"viewCount":1051,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030183581,"gmtCreate":1645662237185,"gmtModify":1676534050243,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Not good","listText":"Not good","text":"Not good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030183581","repostId":"1153372780","repostType":4,"isVote":1,"tweetType":1,"viewCount":762,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097752008,"gmtCreate":1645573003839,"gmtModify":1676534040183,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097752008","repostId":"2213952907","repostType":4,"isVote":1,"tweetType":1,"viewCount":642,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097268802,"gmtCreate":1645486276374,"gmtModify":1676534031123,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"500 is too little for Apple","listText":"500 is too little for Apple","text":"500 is too little for Apple","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097268802","repostId":"2213981004","repostType":4,"isVote":1,"tweetType":1,"viewCount":1116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097152464,"gmtCreate":1645400088642,"gmtModify":1676534023408,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097152464","repostId":"2213608380","repostType":4,"isVote":1,"tweetType":1,"viewCount":1366,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097986776,"gmtCreate":1645317281491,"gmtModify":1676534017442,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097986776","repostId":"1175413665","repostType":4,"repost":{"id":"1175413665","kind":"news","weMediaInfo":{"introduction":"追踪全球财经热点，精选影响您财富的资讯，投资理财必备神器！","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1645313537,"share":"https://ttm.financial/m/news/1175413665?lang=en_US&edition=fundamental","pubTime":"2022-02-20 07:32","market":"us","language":"zh","title":"Going against the trend, Sister Wood actually wants to do \"value investment\"?","url":"https://stock-news.laohu8.com/highlight/detail?id=1175413665","media":"华尔街见闻","summary":"谁能想到全球最火的创新基金，竟自称是价值投资组合？Ark Invest首席执行官Cathie Wood（木头姐）周四在CNBC节目《中场报道》中表示：“我们的基金出现了大幅下滑，我们认为创新型股票现在","content":"<p><html><head></head><body>Who would have thought that the hottest innovation fund in the world would actually claim to be a value portfolio?</p><p>Ark Invest CEO Cathie Wood said on CNBC's \"Halftime Report\" on Thursday:</p><p>\"Our funds have seen a sharp decline, and we think innovative stocks are now in low-price territory, and technology stocks are significantly undervalued relative to their potential. Give us five years, and we are running a deep value portfolio.\" Sister Mu's investment has always been dominated by growth technology stocks, with heavy positions<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>、<a href=\"https://laohu8.com/S/ZM\">Zoom</a>Other high-growth technology stocks will rise by more than 150% in 2020. However, according to FactSet data, more than half of the stocks in ARKK have fallen by at least 20% after entering 2022, and the overall decline of ARKK has also reached 24%.</p><p>In this regard, Sister Mu said that the technology companies in her innovation-focused portfolio are seriously undervalued, and believes that the losses of her funds are only temporary.</p><p>In the past two weeks, Sister Mumu has still \"carried it to the end\". The ETF fund she manages ARK Innovation (ARKK)<b>Bargain-hunting high-growth technology stocks with more than $400 million,</b>These include \"metaverse's No. 1 stock\" Roblox, payment terminal Block, and online brokerage Robinhood.</p><p>Sister Wood said that she does not invest in anything like<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>Such a mature large technology company. Instead<b>Bet on DNA, automation,<a href=\"https://laohu8.com/S/300024\">Robot</a>And artificial intelligence and other companies at the forefront of disruptive technologies in various industries</b>, major holdings include Tesla, Exact Sciences,<a href=\"https://laohu8.com/S/PATH\">UiPath</a>And Coinbase.</p><p>However, as inflation continues to explode, the Federal Reserve is gradually embarking on a road of aggressive tightening. The tightening of interest rate policy has put technology stocks that rely on future cash flows in trouble. Investors no longer have the past tolerance for the current unprofitable high-valued stocks.</p><p>Most investors on Wall Street are not optimistic about Sister Wood's \"death to the end\". The Short Innovation ETF (SARK) under Tuttle Capital Management is famous for shorting ARKK. While ARKK was hit hard, SARK rose by 24% this year.%, total assets were also pushed up to $309.8 million.</p><p>However, Sister Wood does not lack supporters. According to FactSet data, despite its poor performance, ARKK has attracted more than 70 million US dollars in net inflows so far this year.</p><p>Sister Mumu said she believes the drag of inflation on growth stocks will eventually end and the forces of deflation will return. \"Our biggest concern is that our investors are turning what we think is a temporary loss into a permanent loss,\" Mumu said.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Going against the trend, Sister Wood actually wants to do \"value investment\"?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoing against the trend, Sister Wood actually wants to do \"value investment\"?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time smaller\">2022-02-20 07:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Who would have thought that the hottest innovation fund in the world would actually claim to be a value portfolio?</p><p>Ark Invest CEO Cathie Wood said on CNBC's \"Halftime Report\" on Thursday:</p><p>\"Our funds have seen a sharp decline, and we think innovative stocks are now in low-price territory, and technology stocks are significantly undervalued relative to their potential. Give us five years, and we are running a deep value portfolio.\" Sister Mu's investment has always been dominated by growth technology stocks, with heavy positions<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>、<a href=\"https://laohu8.com/S/ZM\">Zoom</a>Other high-growth technology stocks will rise by more than 150% in 2020. However, according to FactSet data, more than half of the stocks in ARKK have fallen by at least 20% after entering 2022, and the overall decline of ARKK has also reached 24%.</p><p>In this regard, Sister Mu said that the technology companies in her innovation-focused portfolio are seriously undervalued, and believes that the losses of her funds are only temporary.</p><p>In the past two weeks, Sister Mumu has still \"carried it to the end\". The ETF fund she manages ARK Innovation (ARKK)<b>Bargain-hunting high-growth technology stocks with more than $400 million,</b>These include \"metaverse's No. 1 stock\" Roblox, payment terminal Block, and online brokerage Robinhood.</p><p>Sister Wood said that she does not invest in anything like<a href=\"https://laohu8.com/S/MSFT\">Microsoft</a>Such a mature large technology company. Instead<b>Bet on DNA, automation,<a href=\"https://laohu8.com/S/300024\">Robot</a>And artificial intelligence and other companies at the forefront of disruptive technologies in various industries</b>, major holdings include Tesla, Exact Sciences,<a href=\"https://laohu8.com/S/PATH\">UiPath</a>And Coinbase.</p><p>However, as inflation continues to explode, the Federal Reserve is gradually embarking on a road of aggressive tightening. The tightening of interest rate policy has put technology stocks that rely on future cash flows in trouble. Investors no longer have the past tolerance for the current unprofitable high-valued stocks.</p><p>Most investors on Wall Street are not optimistic about Sister Wood's \"death to the end\". The Short Innovation ETF (SARK) under Tuttle Capital Management is famous for shorting ARKK. While ARKK was hit hard, SARK rose by 24% this year.%, total assets were also pushed up to $309.8 million.</p><p>However, Sister Wood does not lack supporters. According to FactSet data, despite its poor performance, ARKK has attracted more than 70 million US dollars in net inflows so far this year.</p><p>Sister Mumu said she believes the drag of inflation on growth stocks will eventually end and the forces of deflation will return. \"Our biggest concern is that our investors are turning what we think is a temporary loss into a permanent loss,\" Mumu said.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0fb0479ff67cd3a760cdce353bcb60ed","relate_stocks":{"BK4535":"淡马锡持仓","ARKK":"ARK Innovation ETF","TSLA":"特斯拉","TTTN":"老虎中美互联网巨头ETF","BK4538":"云计算","SARK":"Tradr 1X Short Innovation Daily ETF","BK4550":"红杉资本持仓","BK4551":"寇图资本持仓","03086":"华夏纳指","MSFT":"微软","BK4023":"应用软件","BK4554":"元宇宙及AR概念","BK4099":"汽车制造商","PATH":"UiPath","BK4534":"瑞士信贷持仓","ZM":"Zoom","BK4533":"AQR资本管理(全球第二大对冲基金)","QNETCN":"纳斯达克中美互联网老虎指数","BK4566":"资本集团","BK4516":"特朗普概念"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175413665","content_text":"谁能想到全球最火的创新基金，竟自称是价值投资组合？Ark Invest首席执行官Cathie Wood（木头姐）周四在CNBC节目《中场报道》中表示：“我们的基金出现了大幅下滑，我们认为创新型股票现在处于低价区域，科技股相对于其潜力被大幅低估了。给我们五年时间，我们正在运行一个深度价值投资组合。”木头姐的投资向来以成长性科技股票为主，重仓特斯拉、Zoom等高增长科技股，在2020年涨幅超150%。然而据FactSet数据显示，在进入2022年之后ARKK中有超过一半的股票已经下跌至少20%，ARKK的整体跌幅也达到24%。对此，木头姐表示，其专注于创新的投资组合中的科技公司被严重低估，并认为旗下基金的亏损只是暂时的。在过去两周，木头姐依然“死扛到底”，其管理的ETF基金ARK Innovation（ARKK）抄底超过4亿美元的高增长科技股，其中包括“元宇宙第一股”Roblox、支付终端Block和在线券商Robinhood。木头姐表示，她不投资任何像微软这样成熟的大型科技公司。而是押注在DNA、自动化、机器人和人工智能等各行业处于颠覆性技术前沿的公司，主要持股包括特斯拉、Exact Sciences、UiPath和Coinbase。然而随着通胀持续爆表，美联储逐步走上激进的紧缩之路，利率政策的收紧使得依赖未来现金流的科技股陷入困境，投资者对于当下无利可图的高估值个股再没有往日的宽容。对于木头姐的“死扛到底”，华尔街大部分投资者并不表示看好，Tuttle Capital Management旗下的Short Innovation ETF（SARK）以做空ARKK闻名，在ARKK遭到重创的同时，SARK今年涨幅达24%，总资产也被推高至3.098亿美元。不过木头姐也不缺乏支持者，据FactSet数据显示，尽管表现不佳，但ARKK今年迄今仍吸引了超过7000万美元的净流入。木头姐表示，她相信通胀对成长型股票的拖累最终会结束，通货紧缩的力量将会卷土重来。“我们最大的担忧是，我们的投资者将我们认为的暂时损失变成了永久性损失。”木头姐说。","news_type":1,"symbols_score_info":{"TTTN":0.9,"PATH":0.9,"ARKK":0.9,"ZM":0.9,"03086":0.9,"TSLA":0.9,"SARK":0.9,"MSFT":0.9,"QNETCN":0.9}},"isVote":1,"tweetType":1,"viewCount":923,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9094702459,"gmtCreate":1645231955410,"gmtModify":1676534010866,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9094702459","repostId":"1103575417","repostType":4,"repost":{"id":"1103575417","kind":"news","weMediaInfo":{"introduction":"格隆汇旗下公众号。分享和探讨港股、美国中概股以及少量估值确有吸引力之A股的投资线索、投资机会与投资心得.","home_visible":1,"media_name":"格隆汇投资学苑","id":"3","head_image":"https://static.tigerbbs.com/5d7d04eb4f16b0013ed2c39f71b84b6c"},"pubTimestamp":1645228618,"share":"https://ttm.financial/m/news/1103575417?lang=en_US&edition=fundamental","pubTime":"2022-02-19 07:56","market":"sh","language":"zh","title":"Foreign investors are frantically adjusting positions, implying the main line of making money","url":"https://stock-news.laohu8.com/highlight/detail?id=1103575417","media":"格隆汇投资学苑","summary":"虎年开市之后，A股市场情绪整体低迷脆弱。市场风格切换明显，从热门科技成长赛道调仓至平时并不起眼的传统行业，诸如基建、房地产。同期，外资亦疯狂调仓切换。（2/7-2/17）大幅加仓前6的行业分别为银行、","content":"<p><html><head></head><body>After the market opened in the Year of the Tiger, the overall sentiment of the A-share market was sluggish and fragile. The market style has switched obviously, from popular technology growth tracks to traditional industries that are usually inconspicuous, such as infrastructure and real estate.</p><p>During the same period, foreign capital also frantically switched positions. (2/7-2/17) The top 6 industries that have significantly increased positions are banks, copper metal, non-ferrous metals, insurance, chemicals, and cement and building materials, with positions increasing by 7.47 billion, 3.55 billion, 3.42 billion, 3.17 billion, 1.47 billion, 1.38 billion respectively. During the same period, the sectors all achieved sharp gains, with increases of 3.4%, 10.4%, 8.4%, 6.1%, 5.7%, and 8.4% respectively.</p><p>In terms of lightening positions, the TOP6 are lithium batteries, medicine, photovoltaics, lithium mines, virus protection, photovoltaic modules, and lithium iron phosphate, with lightening positions of 2.44 billion, 1.88 billion, 1.75 billion, 1.55 billion, 1.45 billion, 1.34 billion, and 1.14 billion respectively. During the same period, the top 3 positions were<a href=\"https://laohu8.com/S/300750\">Ningde era</a>、<a href=\"https://laohu8.com/S/002812\">Enjie shares</a>、<a href=\"https://laohu8.com/S/002460\">Ganfeng Lithium</a>, the reduction amounts were 2.15 billion, 1.04 billion, and 840 million respectively.</p><p><img src=\"https://static.tigerbbs.com/30e72e2fd918baa6b2cfd685fa6e3641\" tg-width=\"417\" tg-height=\"641\" referrerpolicy=\"no-referrer\"/></p><p><b>Obviously, foreign capital increases its positions in the financial cycle and lightens its positions in the popular growth track, which is in step with the mainstream A-share market.</b>From the path of foreign capital adjustment, we can also try to figure out the possible main line of investment this year.</p><p><b>Sought after banks</b></p><p>Since the beginning of this year, foreign capital has frantically increased its positions in banks, with a quota of 25.8 billion, making it the industry sector with the largest net inflow. In terms of individual stocks, the TOP4 foreign investors' positions are<a href=\"https://laohu8.com/S/600036\">China Merchants Bank</a>、<a href=\"https://laohu8.com/S/601166\">Industrial Bank</a>、<a href=\"https://laohu8.com/S/000001\">Ping An Bank</a>、<a href=\"https://laohu8.com/S/600919\">Bank of Jiangsu</a>, the amount of positions increased was 9.14 billion, 3.2 billion, 1.88 billion, and 1.4 billion respectively, and the stock price rose by 5.7%, 17%,-0.36%, and 16% respectively during the same period.</p><p>Especially for China Merchants Bank, foreign investors have always preferred Youjia and increased their positions. The latest market value currently held is as high as 87.3 billion yuan, and the position ratio is as high as 6.79%, which is at a historically high level.<b>According to the ranking of foreign holdings, China Merchants Bank has ranked fourth, second only to<a href=\"https://laohu8.com/S/600519\">Kweichow Moutai</a>, Ningde era and<a href=\"https://laohu8.com/S/000333\">Midea Group</a>。</b></p><p>Why do foreign investors pursue banks?</p><p>Throughout 2021, the market has risen well, with non-ferrous metals, chemicals, steel and popular tracks, such as new energy vehicles, photovoltaics, and chips, all achieving double-digit returns. The banking sector only rose 0.25%, second only to SW Agriculture, Forestry, Animal Husbandry and Fishery (-7.58%), SW Non-Bank Finance (-10.3%), and SW Leisure Services (-11.4%).</p><p><img src=\"https://static.tigerbbs.com/e3a168e84daaadd81eaf0b69242f31d1\" tg-width=\"415\" tg-height=\"586\" referrerpolicy=\"no-referrer\"/></p><p>If statistics are counted from 2020 to 2021, the banking sector has fallen by 2.2% in two years, which is the worst realization among all 28 sub-sectors of Shenwan.<b>After two years of in-depth adjustment, the valuation of the banking sector is at a historically low level.</b>According to the China Securities Bank Index, the current PB is 0.66 times, the lowest level in 10 years, and far lower than the opportunity value of 0.76 times.</p><p><img src=\"https://static.tigerbbs.com/a377e48613b01b1feda9c3834124c2c0\" tg-width=\"1080\" tg-height=\"552\" referrerpolicy=\"no-referrer\"/></p><p>In the past two years, the popular sectors of the broader market have staged a big bull market, and the Shenzhen Stock Exchange and the Growth Enterprise Market Index have also recorded very obvious surges. However, the banking sector has a large plate, and the main market players are unwilling to gain low returns, so the sector is abandoned.</p><p>In 2022, there will be a major shift in global monetary policy. The Federal Reserve has clamored for many rate hike, the turmoil in the global financial market has intensified, risk appetite has converged, and it has switched from high-valued technological growth to traditional industries. The bank has fallen for another two years, and its valuation is attractive, so it is naturally favored by domestic and foreign funds.</p><p>There are 41 A-share listed banks with a circulating market value of 6,786.2 billion yuan. There is a big difference between good and bad bank operations. Valuation is the result of all market participants voting with real money, and can represent the level of bank operations to a certain extent.</p><p>According to Wind, the two banks with the highest PB are<a href=\"https://laohu8.com/S/002142\">Bank of Ningbo</a>、<a href=\"https://laohu8.com/S/03968\">China Merchants Bank</a>, 2.25 times and 1.84 times respectively, much higher than the industry average of 0.66 times. The huge disparity in valuation stems from the company's operating level. The above two leading banks are far ahead of other listed banks in terms of profit growth rate and asset quality (bad debt ratio and provision coverage ratio).</p><p><img src=\"https://static.tigerbbs.com/97297992b0667c40ab2cca90752c7555\" tg-width=\"853\" tg-height=\"803\" referrerpolicy=\"no-referrer\"/></p><p>The second batch of banks with excellent operations, including Ping An Bank, Industrial Bank, etc., rank relatively high in valuation, and they are also the leading banks in which foreign capital has significantly increased its positions.</p><p>This year, the main capital style, including foreign capital, has switched to traditional industries, and it is unlikely that one or two days, January or two months. In my opinion, the market is interpreted at least on a quarterly basis.</p><p><b>In 2022, banks can look high.</b></p><p><b>Steady growth</b></p><p>Since the beginning of the year, foreign capital has increased its position layout in the \"steady growth\" sector. What is the logic behind it? Are there any investment opportunities this year?</p><p>Under the triple pressure of \"shrinking demand, supply shocks, and weakening expectations\", the central government set the tone of \"moderately advanced infrastructure investment\" at the economic work conference as early as last December to stabilize economic growth. Subsequently, the Ministry of Finance and local governments made frequent moves in the field of infrastructure construction.</p><p><img src=\"https://static.tigerbbs.com/3a51cc09f4092a88b9f87d24c57b4e31\" tg-width=\"836\" tg-height=\"721\" referrerpolicy=\"no-referrer\"/></p><p>At the monetary level, the central bank is also anxious to take various measures to \"stabilize growth.\"</p><p>On January 17, the central bank urgently lowered MLF and OMO interest rates by 10 basis points during the session.</p><p>On January 18th, senior officials of the central bank continued to blow out obvious policy warm wind: open the monetary policy toolbox wider, keep the total amount stable, and avoid credit collapse; The level of reserve ratio is not high, but there is still some room, which will be used according to macro needs; The macro leverage ratio has declined in five quarters, creating space for future monetary policy.</p><p>All of the above are very positive signals that the margin of monetary policy is turning to easing. Interest rate cuts are just the beginning, and more easing policies are still on the way. The central bank also mentioned that the adjustment of U.S. monetary policy has limited impact on China, which also shows that the thinking of the People's Bank of China is still \"focusing on me\".</p><p>In January this year, social financing increased by 6.17 trillion yuan, an increase of 984.2 billion yuan year-on-year, setting a record high and greatly exceeding expectations. Among them, RMB loans to the corporate sector were 3.4 trillion, an increase of 810 billion year-on-year. This shows that the recent supervision of credit supply has achieved results. On the money supply side, the year-on-year growth rate of M2 rebounded to 9.8%. From a structural point of view, the year-on-year increase of 3.93 trillion in residents' deposits and the year-on-year decrease of 585.1 billion in fiscal deposits are the main contributions, which also confirm the obvious fiscal strength at the beginning of the year, indicating that infrastructure construction is expected to usher in high growth.</p><p><img src=\"https://static.tigerbbs.com/31f8f9279ca9b7b92512c6a07409aba9\" tg-width=\"1080\" tg-height=\"707\" referrerpolicy=\"no-referrer\"/></p><p>Whether it is the meeting of the Political Bureau of the Central Committee to set the tone to stabilize growth or the positive actions of the central bank and the Ministry of Finance, it can reflect a problem:<b>Economic growth is under great pressure, and it is urgent to turn to steady growth.</b></p><p>In addition to advancing infrastructure construction, steady growth also requires marginal relaxation of real estate to achieve a soft landing. There are also frequent actions at the policy level-loans related to affordable rental housing are not included in the concentration management of real estate loans, national supervision measures for pre-sale funds of commercial housing are introduced, and some banks in Ganzhou, Chongqing have reduced the down payment ratio of first home loans to 20%...</p><p><b>The introduction of various policies of \"steady growth\" has improved the fundamental logic of sector companies marginally. After experiencing deep declines in the past few years, most of the valuations are in a very cheap state, and the corresponding infrastructure and real estate sectors have continued to rebound.</b></p><p><img src=\"https://static.tigerbbs.com/25f62de7f76c8e720685967c78ffe23a\" tg-width=\"1080\" tg-height=\"560\" referrerpolicy=\"no-referrer\"/></p><p>Infrastructure and real estate are looked down upon by ordinary retail investors. Years ago, it was said that there would be good investment opportunities, and at most 2 people in 10 people may believe it. As time has evolved, there may be 4-5 people now.</p><p>The real estate industry, the upstream includes cement, building materials, steel, etc., representing the leader<a href=\"https://laohu8.com/S/600585\">Conch Cement</a>、<a href=\"https://laohu8.com/S/000786\">Beijing New Building Materials</a>、<a href=\"https://laohu8.com/S/600019\">Baosteel Co., Ltd</a>, the midstream is the developer, and the representative enterprises are Vanke,<a href=\"https://laohu8.com/S/600048\">Poly Development</a>、<a href=\"https://laohu8.com/S/001979\">Merchants Shekou</a>, the downstream is home appliances, and the representative enterprise is<a href=\"https://laohu8.com/S/000651\">Gree Electric</a>, Midea Group.</p><p>These leaders used to be almost all super bull stocks. They suffered from Waterloo last year, but they are expected to rebound well this year. For example, China Merchants Shekou is highly optimistic about domestic funds. The number of fund holders and the total number of fund holdings both hit record highs at the end of the fourth quarter of last year. The stock price has also rebounded from the bottom last year, exceeding 50%.</p><p><img src=\"https://static.tigerbbs.com/8f3e9412a2b20a98636fef29185aa4cb\" tg-width=\"1080\" tg-height=\"653\" referrerpolicy=\"no-referrer\"/></p><p>Old infrastructure is also the traditional \"railway public infrastructure\" project, mostly railway, highway, airport, port, water conservancy facilities and other construction projects. There are many leaders in this segment, such as China Communications Construction, China Railway, China Power Construction, Shandong Road and Bridge, etc., which have experienced good growth in the past two months.</p><p><img src=\"https://static.tigerbbs.com/060a281ae029ed07879dd3cf8ed49c78\" tg-width=\"835\" tg-height=\"807\" referrerpolicy=\"no-referrer\"/></p><p>In addition to the stock market, there is also the commodity market, and the opportunities are not small. For example, the main rebar contract 2205 has experienced a good increase, rebounding from 4,300 yuan/ton at the beginning of the year to more than 5,000 yuan/ton, with the largest increase of 16.3%. With the leverage of 5-6 times, this wave of market has a return rate of nearly 1 times. There are also more upstream iron ores, which have also shown a strong rebound, but have recently encountered policy suppression and there has been a wave of violent pullback/retracement.</p><p><img src=\"https://static.tigerbbs.com/c0e07773335e34aa488bb2da47cea990\" tg-width=\"1080\" tg-height=\"661\" referrerpolicy=\"no-referrer\"/></p><p>In 2022, the main line of market investment is indispensable for \"steady growth\". Although it has risen a little, the market has not been properly interpreted.</p><p><b>Epilogue</b></p><p>At the 2022 Daily Journal annual meeting, Munger said when talking about why he chose to invest in China that every dollar invested in China has more advantages. They invest in companies that are stronger and cheaper than their competitors:</p><p>\"China is a big modern country. It has such a huge population and has achieved such huge modernization in the past 30 years. We have invested some money in China on the grounds that in terms of corporate strength and securities prices, we can get more value in China than in the United States.\"<b>However, Munger also missed the timing, bucking the trend and buying Ali at the bottom, and currently suffering a huge loss of 34%.</b></p><p>For Chinese assets, it is not the Munger family that is optimistic. In the bond market, overseas institutions hold a total of more than 3.7 trillion yuan of major types of Chinese bonds, rising for 38 consecutive months.</p><p>In the stock market, the cumulative net inflow of foreign capital last year was about 432.2 billion yuan, a record high for annual net inflows. In 2022, the inflow trend will remain the same, with a net inflow of 43.8 billion in January and a net inflow of 8.35 billion since February. As of the latest data, foreign capital (excluding QFII channels) holds a total of 1.66 trillion yuan in A shares, which has become an important role.</p><p><img src=\"https://static.tigerbbs.com/3388f6cf448bf4943b50f718cc0de9d4\" tg-width=\"1080\" tg-height=\"686\" referrerpolicy=\"no-referrer\"/></p><p>Foreign capital has always been called \"smart capital\" (not necessarily in the operation of individual stocks), and there is a high probability that large position changes and market pace can't be wrong.<b>Reduce popular growth and increase cyclical banks. This is the possible main line of the market this year.</b>Although growth stocks have fallen a lot, the valuation is still high, and it is still not worth rushing to buy the bottom.</p><p>By the way, the top 15 foreign stocks are all well-known star stocks, which deserve investors' attention. Among them, there are 3 banks in total, China Merchants Bank is 4th, Ningbo is 6th, and Pingyin is 14th. In the past year, the net inflow of foreign capital into the banking sector was 60.77 billion yuan, ranking first among all sectors. For \"steady growth\", it is not an industry with heavy foreign investors, but this year's frequent position adjustments can be regarded as a positive signal!</p><p><img src=\"https://static.tigerbbs.com/eb79271d9f566eb07c555ca5b5f35076\" tg-width=\"1080\" tg-height=\"643\" referrerpolicy=\"no-referrer\"/></p><p>Black swans will occur frequently in 2022. Against the background of the major currency shift, the global stock market turmoil will intensify, and A-shares will almost inevitably follow suit. There is no overall bull market opportunity, but the structural market must exist, depending on how you grasp it.<b>Personally, I think before the two sessions, it will be a better profit window period.</b></p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Foreign investors are frantically adjusting positions, implying the main line of making money</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nForeign investors are frantically adjusting positions, implying the main line of making money\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/3\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/5d7d04eb4f16b0013ed2c39f71b84b6c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">格隆汇投资学苑 </p>\n<p class=\"h-time smaller\">2022-02-19 07:56</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>After the market opened in the Year of the Tiger, the overall sentiment of the A-share market was sluggish and fragile. The market style has switched obviously, from popular technology growth tracks to traditional industries that are usually inconspicuous, such as infrastructure and real estate.</p><p>During the same period, foreign capital also frantically switched positions. (2/7-2/17) The top 6 industries that have significantly increased positions are banks, copper metal, non-ferrous metals, insurance, chemicals, and cement and building materials, with positions increasing by 7.47 billion, 3.55 billion, 3.42 billion, 3.17 billion, 1.47 billion, 1.38 billion respectively. During the same period, the sectors all achieved sharp gains, with increases of 3.4%, 10.4%, 8.4%, 6.1%, 5.7%, and 8.4% respectively.</p><p>In terms of lightening positions, the TOP6 are lithium batteries, medicine, photovoltaics, lithium mines, virus protection, photovoltaic modules, and lithium iron phosphate, with lightening positions of 2.44 billion, 1.88 billion, 1.75 billion, 1.55 billion, 1.45 billion, 1.34 billion, and 1.14 billion respectively. During the same period, the top 3 positions were<a href=\"https://laohu8.com/S/300750\">Ningde era</a>、<a href=\"https://laohu8.com/S/002812\">Enjie shares</a>、<a href=\"https://laohu8.com/S/002460\">Ganfeng Lithium</a>, the reduction amounts were 2.15 billion, 1.04 billion, and 840 million respectively.</p><p><img src=\"https://static.tigerbbs.com/30e72e2fd918baa6b2cfd685fa6e3641\" tg-width=\"417\" tg-height=\"641\" referrerpolicy=\"no-referrer\"/></p><p><b>Obviously, foreign capital increases its positions in the financial cycle and lightens its positions in the popular growth track, which is in step with the mainstream A-share market.</b>From the path of foreign capital adjustment, we can also try to figure out the possible main line of investment this year.</p><p><b>Sought after banks</b></p><p>Since the beginning of this year, foreign capital has frantically increased its positions in banks, with a quota of 25.8 billion, making it the industry sector with the largest net inflow. In terms of individual stocks, the TOP4 foreign investors' positions are<a href=\"https://laohu8.com/S/600036\">China Merchants Bank</a>、<a href=\"https://laohu8.com/S/601166\">Industrial Bank</a>、<a href=\"https://laohu8.com/S/000001\">Ping An Bank</a>、<a href=\"https://laohu8.com/S/600919\">Bank of Jiangsu</a>, the amount of positions increased was 9.14 billion, 3.2 billion, 1.88 billion, and 1.4 billion respectively, and the stock price rose by 5.7%, 17%,-0.36%, and 16% respectively during the same period.</p><p>Especially for China Merchants Bank, foreign investors have always preferred Youjia and increased their positions. The latest market value currently held is as high as 87.3 billion yuan, and the position ratio is as high as 6.79%, which is at a historically high level.<b>According to the ranking of foreign holdings, China Merchants Bank has ranked fourth, second only to<a href=\"https://laohu8.com/S/600519\">Kweichow Moutai</a>, Ningde era and<a href=\"https://laohu8.com/S/000333\">Midea Group</a>。</b></p><p>Why do foreign investors pursue banks?</p><p>Throughout 2021, the market has risen well, with non-ferrous metals, chemicals, steel and popular tracks, such as new energy vehicles, photovoltaics, and chips, all achieving double-digit returns. The banking sector only rose 0.25%, second only to SW Agriculture, Forestry, Animal Husbandry and Fishery (-7.58%), SW Non-Bank Finance (-10.3%), and SW Leisure Services (-11.4%).</p><p><img src=\"https://static.tigerbbs.com/e3a168e84daaadd81eaf0b69242f31d1\" tg-width=\"415\" tg-height=\"586\" referrerpolicy=\"no-referrer\"/></p><p>If statistics are counted from 2020 to 2021, the banking sector has fallen by 2.2% in two years, which is the worst realization among all 28 sub-sectors of Shenwan.<b>After two years of in-depth adjustment, the valuation of the banking sector is at a historically low level.</b>According to the China Securities Bank Index, the current PB is 0.66 times, the lowest level in 10 years, and far lower than the opportunity value of 0.76 times.</p><p><img src=\"https://static.tigerbbs.com/a377e48613b01b1feda9c3834124c2c0\" tg-width=\"1080\" tg-height=\"552\" referrerpolicy=\"no-referrer\"/></p><p>In the past two years, the popular sectors of the broader market have staged a big bull market, and the Shenzhen Stock Exchange and the Growth Enterprise Market Index have also recorded very obvious surges. However, the banking sector has a large plate, and the main market players are unwilling to gain low returns, so the sector is abandoned.</p><p>In 2022, there will be a major shift in global monetary policy. The Federal Reserve has clamored for many rate hike, the turmoil in the global financial market has intensified, risk appetite has converged, and it has switched from high-valued technological growth to traditional industries. The bank has fallen for another two years, and its valuation is attractive, so it is naturally favored by domestic and foreign funds.</p><p>There are 41 A-share listed banks with a circulating market value of 6,786.2 billion yuan. There is a big difference between good and bad bank operations. Valuation is the result of all market participants voting with real money, and can represent the level of bank operations to a certain extent.</p><p>According to Wind, the two banks with the highest PB are<a href=\"https://laohu8.com/S/002142\">Bank of Ningbo</a>、<a href=\"https://laohu8.com/S/03968\">China Merchants Bank</a>, 2.25 times and 1.84 times respectively, much higher than the industry average of 0.66 times. The huge disparity in valuation stems from the company's operating level. The above two leading banks are far ahead of other listed banks in terms of profit growth rate and asset quality (bad debt ratio and provision coverage ratio).</p><p><img src=\"https://static.tigerbbs.com/97297992b0667c40ab2cca90752c7555\" tg-width=\"853\" tg-height=\"803\" referrerpolicy=\"no-referrer\"/></p><p>The second batch of banks with excellent operations, including Ping An Bank, Industrial Bank, etc., rank relatively high in valuation, and they are also the leading banks in which foreign capital has significantly increased its positions.</p><p>This year, the main capital style, including foreign capital, has switched to traditional industries, and it is unlikely that one or two days, January or two months. In my opinion, the market is interpreted at least on a quarterly basis.</p><p><b>In 2022, banks can look high.</b></p><p><b>Steady growth</b></p><p>Since the beginning of the year, foreign capital has increased its position layout in the \"steady growth\" sector. What is the logic behind it? Are there any investment opportunities this year?</p><p>Under the triple pressure of \"shrinking demand, supply shocks, and weakening expectations\", the central government set the tone of \"moderately advanced infrastructure investment\" at the economic work conference as early as last December to stabilize economic growth. Subsequently, the Ministry of Finance and local governments made frequent moves in the field of infrastructure construction.</p><p><img src=\"https://static.tigerbbs.com/3a51cc09f4092a88b9f87d24c57b4e31\" tg-width=\"836\" tg-height=\"721\" referrerpolicy=\"no-referrer\"/></p><p>At the monetary level, the central bank is also anxious to take various measures to \"stabilize growth.\"</p><p>On January 17, the central bank urgently lowered MLF and OMO interest rates by 10 basis points during the session.</p><p>On January 18th, senior officials of the central bank continued to blow out obvious policy warm wind: open the monetary policy toolbox wider, keep the total amount stable, and avoid credit collapse; The level of reserve ratio is not high, but there is still some room, which will be used according to macro needs; The macro leverage ratio has declined in five quarters, creating space for future monetary policy.</p><p>All of the above are very positive signals that the margin of monetary policy is turning to easing. Interest rate cuts are just the beginning, and more easing policies are still on the way. The central bank also mentioned that the adjustment of U.S. monetary policy has limited impact on China, which also shows that the thinking of the People's Bank of China is still \"focusing on me\".</p><p>In January this year, social financing increased by 6.17 trillion yuan, an increase of 984.2 billion yuan year-on-year, setting a record high and greatly exceeding expectations. Among them, RMB loans to the corporate sector were 3.4 trillion, an increase of 810 billion year-on-year. This shows that the recent supervision of credit supply has achieved results. On the money supply side, the year-on-year growth rate of M2 rebounded to 9.8%. From a structural point of view, the year-on-year increase of 3.93 trillion in residents' deposits and the year-on-year decrease of 585.1 billion in fiscal deposits are the main contributions, which also confirm the obvious fiscal strength at the beginning of the year, indicating that infrastructure construction is expected to usher in high growth.</p><p><img src=\"https://static.tigerbbs.com/31f8f9279ca9b7b92512c6a07409aba9\" tg-width=\"1080\" tg-height=\"707\" referrerpolicy=\"no-referrer\"/></p><p>Whether it is the meeting of the Political Bureau of the Central Committee to set the tone to stabilize growth or the positive actions of the central bank and the Ministry of Finance, it can reflect a problem:<b>Economic growth is under great pressure, and it is urgent to turn to steady growth.</b></p><p>In addition to advancing infrastructure construction, steady growth also requires marginal relaxation of real estate to achieve a soft landing. There are also frequent actions at the policy level-loans related to affordable rental housing are not included in the concentration management of real estate loans, national supervision measures for pre-sale funds of commercial housing are introduced, and some banks in Ganzhou, Chongqing have reduced the down payment ratio of first home loans to 20%...</p><p><b>The introduction of various policies of \"steady growth\" has improved the fundamental logic of sector companies marginally. After experiencing deep declines in the past few years, most of the valuations are in a very cheap state, and the corresponding infrastructure and real estate sectors have continued to rebound.</b></p><p><img src=\"https://static.tigerbbs.com/25f62de7f76c8e720685967c78ffe23a\" tg-width=\"1080\" tg-height=\"560\" referrerpolicy=\"no-referrer\"/></p><p>Infrastructure and real estate are looked down upon by ordinary retail investors. Years ago, it was said that there would be good investment opportunities, and at most 2 people in 10 people may believe it. As time has evolved, there may be 4-5 people now.</p><p>The real estate industry, the upstream includes cement, building materials, steel, etc., representing the leader<a href=\"https://laohu8.com/S/600585\">Conch Cement</a>、<a href=\"https://laohu8.com/S/000786\">Beijing New Building Materials</a>、<a href=\"https://laohu8.com/S/600019\">Baosteel Co., Ltd</a>, the midstream is the developer, and the representative enterprises are Vanke,<a href=\"https://laohu8.com/S/600048\">Poly Development</a>、<a href=\"https://laohu8.com/S/001979\">Merchants Shekou</a>, the downstream is home appliances, and the representative enterprise is<a href=\"https://laohu8.com/S/000651\">Gree Electric</a>, Midea Group.</p><p>These leaders used to be almost all super bull stocks. They suffered from Waterloo last year, but they are expected to rebound well this year. For example, China Merchants Shekou is highly optimistic about domestic funds. The number of fund holders and the total number of fund holdings both hit record highs at the end of the fourth quarter of last year. The stock price has also rebounded from the bottom last year, exceeding 50%.</p><p><img src=\"https://static.tigerbbs.com/8f3e9412a2b20a98636fef29185aa4cb\" tg-width=\"1080\" tg-height=\"653\" referrerpolicy=\"no-referrer\"/></p><p>Old infrastructure is also the traditional \"railway public infrastructure\" project, mostly railway, highway, airport, port, water conservancy facilities and other construction projects. There are many leaders in this segment, such as China Communications Construction, China Railway, China Power Construction, Shandong Road and Bridge, etc., which have experienced good growth in the past two months.</p><p><img src=\"https://static.tigerbbs.com/060a281ae029ed07879dd3cf8ed49c78\" tg-width=\"835\" tg-height=\"807\" referrerpolicy=\"no-referrer\"/></p><p>In addition to the stock market, there is also the commodity market, and the opportunities are not small. For example, the main rebar contract 2205 has experienced a good increase, rebounding from 4,300 yuan/ton at the beginning of the year to more than 5,000 yuan/ton, with the largest increase of 16.3%. With the leverage of 5-6 times, this wave of market has a return rate of nearly 1 times. There are also more upstream iron ores, which have also shown a strong rebound, but have recently encountered policy suppression and there has been a wave of violent pullback/retracement.</p><p><img src=\"https://static.tigerbbs.com/c0e07773335e34aa488bb2da47cea990\" tg-width=\"1080\" tg-height=\"661\" referrerpolicy=\"no-referrer\"/></p><p>In 2022, the main line of market investment is indispensable for \"steady growth\". Although it has risen a little, the market has not been properly interpreted.</p><p><b>Epilogue</b></p><p>At the 2022 Daily Journal annual meeting, Munger said when talking about why he chose to invest in China that every dollar invested in China has more advantages. They invest in companies that are stronger and cheaper than their competitors:</p><p>\"China is a big modern country. It has such a huge population and has achieved such huge modernization in the past 30 years. We have invested some money in China on the grounds that in terms of corporate strength and securities prices, we can get more value in China than in the United States.\"<b>However, Munger also missed the timing, bucking the trend and buying Ali at the bottom, and currently suffering a huge loss of 34%.</b></p><p>For Chinese assets, it is not the Munger family that is optimistic. In the bond market, overseas institutions hold a total of more than 3.7 trillion yuan of major types of Chinese bonds, rising for 38 consecutive months.</p><p>In the stock market, the cumulative net inflow of foreign capital last year was about 432.2 billion yuan, a record high for annual net inflows. In 2022, the inflow trend will remain the same, with a net inflow of 43.8 billion in January and a net inflow of 8.35 billion since February. As of the latest data, foreign capital (excluding QFII channels) holds a total of 1.66 trillion yuan in A shares, which has become an important role.</p><p><img src=\"https://static.tigerbbs.com/3388f6cf448bf4943b50f718cc0de9d4\" tg-width=\"1080\" tg-height=\"686\" referrerpolicy=\"no-referrer\"/></p><p>Foreign capital has always been called \"smart capital\" (not necessarily in the operation of individual stocks), and there is a high probability that large position changes and market pace can't be wrong.<b>Reduce popular growth and increase cyclical banks. This is the possible main line of the market this year.</b>Although growth stocks have fallen a lot, the valuation is still high, and it is still not worth rushing to buy the bottom.</p><p>By the way, the top 15 foreign stocks are all well-known star stocks, which deserve investors' attention. Among them, there are 3 banks in total, China Merchants Bank is 4th, Ningbo is 6th, and Pingyin is 14th. In the past year, the net inflow of foreign capital into the banking sector was 60.77 billion yuan, ranking first among all sectors. For \"steady growth\", it is not an industry with heavy foreign investors, but this year's frequent position adjustments can be regarded as a positive signal!</p><p><img src=\"https://static.tigerbbs.com/eb79271d9f566eb07c555ca5b5f35076\" tg-width=\"1080\" tg-height=\"643\" referrerpolicy=\"no-referrer\"/></p><p>Black swans will occur frequently in 2022. Against the background of the major currency shift, the global stock market turmoil will intensify, and A-shares will almost inevitably follow suit. There is no overall bull market opportunity, but the structural market must exist, depending on how you grasp it.<b>Personally, I think before the two sessions, it will be a better profit window period.</b></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e68f18a297e419bae3cc0320b6d8ff4e","relate_stocks":{"399001":"深证成指","399006":"创业板指","000001.SH":"上证指数"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103575417","content_text":"虎年开市之后，A股市场情绪整体低迷脆弱。市场风格切换明显，从热门科技成长赛道调仓至平时并不起眼的传统行业，诸如基建、房地产。同期，外资亦疯狂调仓切换。（2/7-2/17）大幅加仓前6的行业分别为银行、金属铜、有色金属、保险、化工、水泥建材，分别增仓74.7亿、35.5亿、34.2亿、31.7亿、14.7亿、13.8亿。同期板块均实现大涨，涨幅分别为3.4%、10.4%、8.4%、6.1%、5.7%、8.4%。减仓方面，TOP6分别为锂电池、医药、光伏、锂矿、病毒防护、光伏组件、磷酸铁锂，分别减仓24.4亿、18.8亿、17.5亿、15.5亿、14.5亿、13.4亿、11.4亿。同期，减仓前3的分别为宁德时代、恩捷股份、赣锋锂业，减仓额分别为21.5亿、10.4亿、8.4亿。很显然，外资加仓金融周期，减仓热门成长赛道，与A股主流市场步调一致。从外资的调仓路径，也可以揣摩今年可能的投资主线。追捧银行今年以来，外资疯狂加仓银行，额度高达258亿，成为净流入最多的行业板块。细分个股来看，外资加仓TOP4分别为招商银行、兴业银行、平安银行、江苏银行，加仓金额分别为91.4亿、32亿、18.8亿、14亿，同期股价分别上涨5.7%、17%、-0.36%、16%。尤其是招行，外资一直偏爱有佳，持仓加仓，当前持有最新市值高达873亿元，持仓比例高达6.79%，位于历史高位水平。按照外资重仓股排名来看，招行已经排名第4，仅次于贵州茅台、宁德时代和美的集团。外资为何追捧银行？2021年全年，大盘涨势良好，有色金属、化工、钢铁以及热门赛道，诸如新能源汽车、光伏、芯片均实现了双位数的回报率。而银行板块仅上涨0.25%，仅次于SW农林牧渔（-7.58%）、SW非银金融（-10.3%）、SW休闲服务（-11.4%）。如果统计2020-2021年，银行板块2年还倒跌2.2%，为所有申万28个子板块中变现最差的。经历2年的深度调整，银行板块估值位于历史低位水平。据中证银行指数来看，当前PB为0.66倍，位于10年来最低水平，还远低于机会值的0.76倍。过去2年，大盘热门板块均上演了大牛市行情，深成证和创业板指也录得非常明显的大涨。而银行板块盘子大，市场主力并不愿意博取低廉的回报率，板块被抛弃。2022年，全球货币政策大转向。美联储叫嚣要多次加息，全球金融市场的动荡加剧，风险偏好收敛，从高估值的科技成长切换到传统行业。而银行又整整下跌了2年，估值具备较大吸引力，自然遭遇国内外资金的青睐。41家A股上市银行，流通市值高达67862亿元。银行经营好坏，差别较大。估值是市场所有市场参与者用真金白银投票的结果，能够一定程度上代表银行经营的水平。据Wind，PB最高的两家银行是宁波银行、招商银行，分别为2.25倍、1.84倍，远远高于行业平均的0.66倍。估值悬殊如此之大，源于公司经营水平。以上两家龙头银行不管是利润增速、还是资产质量（坏账率、拨备覆盖率）均遥遥领先其他上市银行。第二批次经营优秀的银行，包括平安银行、兴业银行等，估值排名都比较靠前，也是外资大幅加仓的银行龙头。今年，包括外资在内的主力资金风格已经切换到传统行业，不太可能一天两天，一月两月。在我看来，行情至少以季度为单位来演绎。2022年，银行可以高看一眼。稳增长年初至今，外资加大了“稳增长”板块的仓位布局。背后是什么逻辑，今年还有投资机会吗？在经济面临“需求收缩、供给冲击、预期转弱”三重压力之下，中央早在去年12月的经济工作会议上，定调“适度超前开展基础设施投资”来稳经济增长。随后，财政部与地方政府等在基建领域动作频频。货币层面上，央行也很着急采取各种办法来“稳增长”。1月17日，央行盘中紧急调低MLF与OMO利率10个基点。1月18日，央行高级官员继续吹出明显政策暖风：把货币政策工具箱开得更大一些，保持总量稳定，避免信贷塌方；准备金率水平已经不高，但仍有一定空间，会根据宏观需要来使用；5个季度宏观杠杆率下降，为未来货币政策创造了空间。以上均属于非常积极的货币政策边际转向宽松的信号。降息只是开始，更多宽松政策还在路上。央行还提到，美国货币政策调整对于中国影响有限，也说明中国央行的思路依然是“以我为主”。今年1月，社融新增6.17万亿，同比多增9842亿，创下历史新高，大幅超出预期。其中，企业部门人民币贷款3.4万亿，同比多增8100亿。这可见近期监管信贷投放有所成效。货币供给侧，M2同比增速回升至9.8%。结构上看，居民存款同比多增3.93万亿，以及财政存款同比少增5851亿是主要贡献，也印证年初财政明显发力，预示基建有望迎来高增长。不管是中央政治局会议定调稳增长、还是央行、财政部的积极行动，均能够反映一个问题：经济增长压力大，转向稳增长很迫切。稳增长除了超前基建外，还有对房地产边际放松，实现软着陆。政策层面也是动作频频——保障性租赁住房有关贷款不纳入房地产贷款集中度管理、全国性商品房预售资金监管办法出台、重庆赣州部分银行将首套房贷首付比例降低至20%……“稳增长”各项政策出台，从边际上改善板块公司基本面逻辑，叠加过去几年经历过深跌之后，估值大多处于十分便宜的状态，相应基建、房地产板块因此持续反弹。基建、房地产被普通散户看不起，年前说会有不错的投资机会，10个人可能最多2个人相信。随着时间的演化，现在可能已经有4-5个人了。房地产行业，上游包括水泥、建材、钢铁等，代表龙头海螺水泥、北新建材、宝钢股份，中游是开发商，代表企业为万科、保利发展、招商蛇口，下游是家电，代表企业为格力电器、美的集团。这些龙头过去几乎都是超级牛股，去年遭遇滑铁卢行情，但今年有望走出不错的反弹行情。比如，招商蛇口，国内资金大力看好，基金持仓家数、基金总持仓股数在去年四季度末均创下历史新高。而股价也从去年底部反弹至今，超过50%。老基建也就是传统的“铁公基”项目，多是铁路、公路、机场、港口、水利设施等建设项目。该细分领域包括的龙头非常多，诸如中国交建、中国中铁、中国电建、山东路桥等等，最近2个月涨势良好。除了股票市场，还有商品市场，机会也不小。诸如螺纹钢主力合约2205已经有一波良好的涨幅，从年初的4300元/吨一度反弹至5000元/吨以上，最大涨幅高达16.3%。加上5-6倍的杠杆，这波行情足足有将近1倍的回报率。还有更上游的铁矿石，也都是呈现出很强的反弹行情，但近期遭遇政策打压，有一波剧烈回撤。2022年，市场投资主线缺不了“稳增长”，虽然已经上涨了一些，但行情并未演绎到位。尾声在2022年Daily Journal年会上，芒格在谈及为何选择投资中国时表示，在中国投的每一块钱都更有优势。他们所投资的公司相对于竞争对手更强，价格却更低：“中国是一个现代化的大国。它有如此庞大的人口，过去30年实现了如此巨大的现代化，我们在中国投资了一些资金，理由是在企业实力和证券价格方面，我们在中国可以获得的价值比在美国要多。”不过，芒格在时机上也有失手的时候，逆势抄底阿里，目前巨亏34%对于中国资产，并不是芒格一家看好。债券市场上，境外机构合计持有中国主要品种债券超过3.7万亿，连续38个月上升。股票市场，外资去年累计净流入约4322亿元，创年度净流入历史新高。2022年，流入趋势依旧，1月净流入438亿，2月以来净流入83.5亿。截止最新数据，外资（不包括QFII通道）累计持有A股1.66万亿元，已经成为一个重要的角色。外资历来被称为“聪明资金”（个股操作上不一定），大的仓位变化与市场步调大概率是不会错的。减热门成长，加周期银行，今年可能的市场主线就在这了。尽管成长股已经跌不少了，但估值依然高昂，仍不值得匆忙抄底。对了，外资重仓股前15名，均是家喻户晓的明星股，值得投资者重视。其中，一共有3家银行，招行第4，宁波第6，平银第14。最近1年，外资流入银行板块净额607.7亿元，位列所有板块第一名。对于“稳增长”，不是外资重仓行业，但今年调仓动作频频，也算是积极信号吧！2022年黑天鹅频发，在货币大转向的大背景下，全球股市动荡加剧，A股也几乎必然跟随，不具备整体的牛市机会，但结构性的行情一定存在，就看诸位如何把握了。个人认为，在两会之前，会是一个比较好的盈利窗口期。","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":871,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9094682465,"gmtCreate":1645140338426,"gmtModify":1676534001061,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"Oo","listText":"Oo","text":"Oo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9094682465","repostId":"1166834221","repostType":4,"repost":{"id":"1166834221","kind":"news","pubTimestamp":1645110952,"share":"https://ttm.financial/m/news/1166834221?lang=en_US&edition=fundamental","pubTime":"2022-02-17 23:15","market":"us","language":"zh","title":"Warning from \"global economic canary\": Russia-Ukraine crisis will exacerbate supply chain risks","url":"https://stock-news.laohu8.com/highlight/detail?id=1166834221","media":"华尔街见闻","summary":"韩国贸易部长表示，正在密切关注能源价格的飙升。","content":"<p><html><head></head><body>Author: Wang Mei</p><p>South Korea's trade minister said that South Korea is paying close attention to the situation between Russia and Ukraine to assess its impact on energy prices or possible disruptions to supply chains.</p><p>On Thursday, CNBC reported that South Korea's Trade Minister Yeo Han-koo said the country was closely monitoring the surge in energy prices first, saying that up to 92% of South Korea's energy needs were met through imports.</p><p>He also said:</p><p>“<b>Some supply chains in manufacturing may also face these potential geopolitical risks</b>, so we are taking all policy measures to deal with this potential risk. \" South Korea's main exports include automobiles, chips and other electronics.</p><p>Yeo Han-koo said the government is trying to figure out which critical raw materials may be vulnerable.</p><p>He said:</p><p>\"We're trying to figure out all these critical raw materials that could disrupt our supply chain, for example,<b>If we rely too much on one or two countries for this critical raw material, it can also be vulnerable.</b>South Korea is also trying to develop an \"early warning system\" to flag risks for some of these critical materials. He added:</p><p>\"If there's some sort of sign or red flag in the supply chain, (we can) respond to potential risks ahead of time.<b>If necessary, a reserve system or some kind of exchange system can be developed with other countries. \"</b>As the global chip shortage continues, Yeo Han-koo is calling for international cooperation to address the problem.</p><p>Ongoing tight chip supplies have hurt production in many industries, from automobiles to home appliances, PCs and smartphones, which need semiconductors to run.</p><p>Yeo Han-koo says:</p><p>\"Korean companies play a very important role in the semiconductor supply chain, and we believe,<b>In semiconductors or any other industry, no country can own the entire supply chain.</b>”</body></html></p>","source":"highlight_wallstreetcn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Warning from \"global economic canary\": Russia-Ukraine crisis will exacerbate supply chain risks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWarning from \"global economic canary\": Russia-Ukraine crisis will exacerbate supply chain risks\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2022-02-17 23:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Author: Wang Mei</p><p>South Korea's trade minister said that South Korea is paying close attention to the situation between Russia and Ukraine to assess its impact on energy prices or possible disruptions to supply chains.</p><p>On Thursday, CNBC reported that South Korea's Trade Minister Yeo Han-koo said the country was closely monitoring the surge in energy prices first, saying that up to 92% of South Korea's energy needs were met through imports.</p><p>He also said:</p><p>“<b>Some supply chains in manufacturing may also face these potential geopolitical risks</b>, so we are taking all policy measures to deal with this potential risk. \" South Korea's main exports include automobiles, chips and other electronics.</p><p>Yeo Han-koo said the government is trying to figure out which critical raw materials may be vulnerable.</p><p>He said:</p><p>\"We're trying to figure out all these critical raw materials that could disrupt our supply chain, for example,<b>If we rely too much on one or two countries for this critical raw material, it can also be vulnerable.</b>South Korea is also trying to develop an \"early warning system\" to flag risks for some of these critical materials. He added:</p><p>\"If there's some sort of sign or red flag in the supply chain, (we can) respond to potential risks ahead of time.<b>If necessary, a reserve system or some kind of exchange system can be developed with other countries. \"</b>As the global chip shortage continues, Yeo Han-koo is calling for international cooperation to address the problem.</p><p>Ongoing tight chip supplies have hurt production in many industries, from automobiles to home appliances, PCs and smartphones, which need semiconductors to run.</p><p>Yeo Han-koo says:</p><p>\"Korean companies play a very important role in the semiconductor supply chain, and we believe,<b>In semiconductors or any other industry, no country can own the entire supply chain.</b>”</body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3652213\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/50dfc816e395a6c9bf36a6d037e136b5","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3652213","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1166834221","content_text":"作者：王眉韩国贸易部长表示，韩国正密切关注俄乌局势，以评估其对能源价格的影响，或对供应链可能造成的中断。周四，据CNBC报道，韩国贸易部长Yeo Han-koo表示该国首先正在密切关注能源价格的飙升，他说韩国高达92%的能源需求是通过进口来满足的。他还表示：“制造业中的一些供应链也可能面临这些潜在的地缘政治风险，所以我们正在采取所有政策措施来应对这一潜在风险。”韩国的主要出口产品包括汽车、芯片和其他电子产品。Yeo Han-koo表示，政府正在努力找出哪些关键原材料可能易受攻击。他说：“我们正试图找出所有这些可能扰乱我们供应链的关键原材料，例如，如果我们过多地依赖一两个国家供应这种关键原材料，那也可能是脆弱的。”韩国还试图开发一种“预警系统”，以标记其中一些关键材料的风险。他补充说：“如果供应链中有某种迹象或危险信号，（我们可以）提前应对潜在风险。如有必要，可以与其他国家开发储备系统或某种交换系统。”随着全球芯片短缺的持续，Yeo Han-koo呼吁国际合作以解决这个问题。持续的芯片供应紧张已经损害了许多行业的生产，从汽车到家用电器、个人电脑和智能手机，这些行业都需要半导体来运行。Yeo Han-koo说：“韩国公司在半导体供应链中扮演着非常重要的角色，我们相信，在半导体或任何其他行业，没有一个国家能够拥有整个供应链。”","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":717,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9094962712,"gmtCreate":1645053219035,"gmtModify":1676533990560,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575508103712478","idStr":"3575508103712478"},"themes":[],"htmlText":"GOOD","listText":"GOOD","text":"GOOD","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9094962712","repostId":"2212660062","repostType":4,"repost":{"id":"2212660062","kind":"news","pubTimestamp":1645047772,"share":"https://ttm.financial/m/news/2212660062?lang=en_US&edition=fundamental","pubTime":"2022-02-17 05:42","market":"us","language":"zh","title":"Foreign media headlines | The Fed prepares for a rate hike! Will accelerate the pace of austerity","url":"https://stock-news.laohu8.com/highlight/detail?id=2212660062","media":"新浪财经","summary":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：1、美联储会议纪要：通胀过高支持尽早加息 必要时或加快紧缩步伐2、美国零售销售强劲反弹 创10个月来最大增幅3、欧洲央行管委Kazaks称今年“颇为有可能","content":"<p><html><head></head><body><b>The headlines that the global financial media paid attention to last night and this morning mainly include:</b></p><p><b>1. Minutes of the Federal Reserve meeting: Too high inflation supports an early rate hike or accelerates the pace of tightening if necessary</b><b>2. U.S. retail sales rebounded strongly, hitting the largest increase in 10 months</b><b>3. European Central Bank Governing Council Kazaks says rate hike is \"quite possible\" this year</b><b>4. U.S. homebuilder confidence index falls to lowest level since October, home sales outlook weakens</b><b>5、<a href=\"https://laohu8.com/S/GOOG\">Google</a>Announced the launch of Android privacy sandbox and plans to release developer preview version within the year</b><b>6. Former British Deputy Prime Minister Clegg was promoted to Meta's global affairs president, Zuckerberg withdrew from policy affairs</b><img src=\"https://static.tigerbbs.com/744e62b469087a5d5a1e4a9098412f31\" tg-width=\"720\" tg-height=\"445\" referrerpolicy=\"no-referrer\"/></p><p><b>Federal Reserve meeting minutes: Too high inflation supports early rate hike or accelerates tightening if necessary</b></p><p>The Federal Reserve released the minutes of the January Federal Open Market Committee (FOMC) monetary policy meeting on Wednesday. The minutes of the meeting showed that Fed officials believed that U.S. inflation was too high, supported a rate hike as soon as possible, and may accelerate the pace of policy tightening.</p><p>The minutes of the meeting showed that Fed officials thought it would soon be suitable for rate hike. Most participants believe that compared with post-2015, the pace of upward adjustment of Federal Funds rate's target range may be accelerated.</p><p>\"Most participants pointed out that if inflation did not decline as expected, it would be appropriate for the committee to lift easing policy faster than currently expected,\" the minutes showed.</p><p>Participants continued to argue that the Fed's net asset purchase program should end soon. Several participants said they preferred an early end to the net asset purchase program to send a stronger signal that the Fed is committed to reducing inflation. Many participants indicated that selling agency home mortgage-backed securities or reinvesting a portion of the principal received from agency home mortgage-backed securities in the U.S. Treasury Bond may be appropriate at some point in the future.</p><p>The minutes showed that the Fed's balance sheet plan will be determined at the \"upcoming meeting\" and it may be appropriate to significantly reduce the balance sheet in the future. \"Many participants believe that the situation may support the start of balance sheet reduction later this year,\" the minutes said.</p><p><img src=\"https://static.tigerbbs.com/fd32d07d8c1376aedefce4691516025b\" tg-width=\"720\" tg-height=\"413\" referrerpolicy=\"no-referrer\"/></p><p><b>U.S. retail sales rebound strongly for biggest increase in 10 months</b></p><p>U.S. retail sales rebounded more than expected and recorded the biggest increase since March last year as the epidemic and inflation did not hinder Americans' consumer spending.</p><p>Data released by the U.S. Department of Commerce on Wednesday showed that total retail sales increased by 3.8% in January, after being revised down to a 2.5% decline last month. None of these numbers have been adjusted for inflation.</p><p>The median estimate of retail sales in January by media survey economists is a 2% month-on-month increase.</p><p>This broad increase in retail sales underscores the resilience of Americans' demand for goods. While the omicron strain and a surge in COVID cases may have dampened spending on services this month, an improving labor market has helped consumers continue to buy products such as cars and furniture, despite inflation at its highest level in decades.</p><p><img src=\"https://static.tigerbbs.com/5e653187c9baa770df53046ebcf11309\" tg-width=\"720\" tg-height=\"464\" referrerpolicy=\"no-referrer\"/></p><p><b>ECB Governing Council Kazaks calls rate hike \"quite possible\" this year</b></p><p>Martins Kazaks, a member of the European Central Bank's Governing Council, said it was \"quite possible\" that rate hike would cope with the unprecedented surge in euro zone prices in 2022, but it would not \"undermine the status quo\" when tightening monetary policy.</p><p>\"It will depend on the data,\" the Latvian central bank governor said in an interview. \"We still have to wait, but it is likely to happen this year.\"</p><p>Kazaks said that inflation has now topped 5% after a surprise record in the past two months, and the picture is becoming clearer for ECB policymakers. \"We think inflation is significantly higher than in the past, which will change the direction of gravity.\"</p><p>The remarks brought Kazaks in line with the most hawkish members of the governing board-including German Joachim Nagel and Dutch Klaas Knot. The latter two both floated the idea of a 2022 rate hike after Governor Christine Lagarde was reluctant to rule out a rate hike this year earlier this month.</p><p>Lagarde later warned that premature policy tightening could jeopardize Europe's post-pandemic economic rebound. Kazaks agreed that \"if interest rates rise too quickly, it will have an impact on the economic recovery\" and urged a \"cautious and gradual\" approach.</p><p><img src=\"https://static.tigerbbs.com/5e6ad3eb0c75854ff53be3e3c038091c\" tg-width=\"720\" tg-height=\"405\" referrerpolicy=\"no-referrer\"/></p><p><b>U.S. homebuilder confidence falls to lowest level since October, home sales outlook weakens</b></p><p>Due to rising labor and supply costs, the confidence index of homebuilders in the United States fell to a four-month low in February. Coupled with rising interest rates, the mortgage cost of homebuyers increased, and the prospect of home sales was also affected.</p><p>According to National Association of Home Builders (NAHB)/<a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>According to the data, the builder confidence index fell to 82 in February from 83 last month. This figure is in line with the median expectation of economists surveyed by Bloomberg.</p><p>Home builders are struggling to meet strong demand amid supply shortages and rising labor and material costs. The national housing market has generally heated up, pushing home prices to record highs, which may begin to deter more buyers from entering the market, especially as the Federal Reserve prepares for a rate hike and mortgage costs rise.</p><p>\"These higher development costs have hit first-time homebuyers particularly hard, and while demand for home purchases remains strong, higher interest rates in 2022 will further weaken homebuyers' appreciation of home prices,\" NAHB chief economist Robert Dietz said in a statement. affordability. \"</p><p>A gauge that assesses sales expectations for the next six months fell to 80, the lowest since June. The potential buyer traffic indicator fell to 65, the lowest since October last year. A measure of current single-family home sales rose slightly.</p><p><img src=\"https://static.tigerbbs.com/42acbe5b923a2b67fd5cfb460c40f3c8\" tg-width=\"720\" tg-height=\"466\" referrerpolicy=\"no-referrer\"/></p><p><b>Google announces the launch of Android privacy sandbox and plans to release developer preview version within the year</b></p><p>Google announced the launch of Android Privacy Sandbox, which aims to introduce newer and more private advertising solutions to limit the sharing of user information with third-party organizations, but without harming the short-term interests of advertisers. According to reports, Google plans to release the developer preview version of the privacy sandbox along with the beta version within the year.</p><p>\"We are exploring technologies that reduce the feasibility of covert data collection, including integrating applications with advertising SDKs in a more secure way,\" said Anthony Chavez, vice president of product management for security and privacy at Android.</p><p>According to reports, the privacy sandbox launched this time is based on the existing web page of Android, which provides a clear path for improving Android privacy without affecting users' access to free content and services.</p><p><img src=\"https://static.tigerbbs.com/0656e6e9660e6cadb7f36f0ada0378e1\" tg-width=\"720\" tg-height=\"454\" referrerpolicy=\"no-referrer\"/></p><p><b>Former UK Deputy Prime Minister Clegg promoted to Meta's global affairs president, Zuckerberg pulls back from policy affairs</b></p><p><a href=\"https://laohu8.com/S/FB\">Meta Platforms</a>Inc. CEO Mark Zuckerberg promoted his top policy officer, Nick Clegg, with greater authority, meaning Zuckerberg and COO Sheryl Sandberg will be less involved in future policy decisions.</p><p>Clegg is already leading Meta's global policy unit, but Zuckerberg said in an article Wednesday that he will now lead all policy matters for the company, including interactions with the government and how Meta \"presents our products and our work to the public.\" Clegg, who previously reported to Sandberg, now also reports to Zuckerberg, with the new title of president of global affairs.</p><p>The expansion of Clegg's authority means that Zuckerberg and Sandberg will rely more on Clegg to make policy decisions. According to informed sources, Zuckerberg, in particular, has spent a lot of time on policy issues such as content review and supervision in recent years, which is not what he wanted. According to people familiar with the matter, Zuckerberg would rather spend more time in areas where he has more experience, such as Meta's technology and products, including plans to build a new immersive Internet, known as metaverse.</p><p></body></html></p>","source":"XLCJ","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Foreign media headlines | The Fed prepares for a rate hike! Will accelerate the pace of austerity</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nForeign media headlines | The Fed prepares for a rate hike! Will accelerate the pace of austerity\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经</strong><span class=\"h-time small\">2022-02-17 05:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>The headlines that the global financial media paid attention to last night and this morning mainly include:</b></p><p><b>1. Minutes of the Federal Reserve meeting: Too high inflation supports an early rate hike or accelerates the pace of tightening if necessary</b><b>2. U.S. retail sales rebounded strongly, hitting the largest increase in 10 months</b><b>3. European Central Bank Governing Council Kazaks says rate hike is \"quite possible\" this year</b><b>4. U.S. homebuilder confidence index falls to lowest level since October, home sales outlook weakens</b><b>5、<a href=\"https://laohu8.com/S/GOOG\">Google</a>Announced the launch of Android privacy sandbox and plans to release developer preview version within the year</b><b>6. Former British Deputy Prime Minister Clegg was promoted to Meta's global affairs president, Zuckerberg withdrew from policy affairs</b><img src=\"https://static.tigerbbs.com/744e62b469087a5d5a1e4a9098412f31\" tg-width=\"720\" tg-height=\"445\" referrerpolicy=\"no-referrer\"/></p><p><b>Federal Reserve meeting minutes: Too high inflation supports early rate hike or accelerates tightening if necessary</b></p><p>The Federal Reserve released the minutes of the January Federal Open Market Committee (FOMC) monetary policy meeting on Wednesday. The minutes of the meeting showed that Fed officials believed that U.S. inflation was too high, supported a rate hike as soon as possible, and may accelerate the pace of policy tightening.</p><p>The minutes of the meeting showed that Fed officials thought it would soon be suitable for rate hike. Most participants believe that compared with post-2015, the pace of upward adjustment of Federal Funds rate's target range may be accelerated.</p><p>\"Most participants pointed out that if inflation did not decline as expected, it would be appropriate for the committee to lift easing policy faster than currently expected,\" the minutes showed.</p><p>Participants continued to argue that the Fed's net asset purchase program should end soon. Several participants said they preferred an early end to the net asset purchase program to send a stronger signal that the Fed is committed to reducing inflation. Many participants indicated that selling agency home mortgage-backed securities or reinvesting a portion of the principal received from agency home mortgage-backed securities in the U.S. Treasury Bond may be appropriate at some point in the future.</p><p>The minutes showed that the Fed's balance sheet plan will be determined at the \"upcoming meeting\" and it may be appropriate to significantly reduce the balance sheet in the future. \"Many participants believe that the situation may support the start of balance sheet reduction later this year,\" the minutes said.</p><p><img src=\"https://static.tigerbbs.com/fd32d07d8c1376aedefce4691516025b\" tg-width=\"720\" tg-height=\"413\" referrerpolicy=\"no-referrer\"/></p><p><b>U.S. retail sales rebound strongly for biggest increase in 10 months</b></p><p>U.S. retail sales rebounded more than expected and recorded the biggest increase since March last year as the epidemic and inflation did not hinder Americans' consumer spending.</p><p>Data released by the U.S. Department of Commerce on Wednesday showed that total retail sales increased by 3.8% in January, after being revised down to a 2.5% decline last month. None of these numbers have been adjusted for inflation.</p><p>The median estimate of retail sales in January by media survey economists is a 2% month-on-month increase.</p><p>This broad increase in retail sales underscores the resilience of Americans' demand for goods. While the omicron strain and a surge in COVID cases may have dampened spending on services this month, an improving labor market has helped consumers continue to buy products such as cars and furniture, despite inflation at its highest level in decades.</p><p><img src=\"https://static.tigerbbs.com/5e653187c9baa770df53046ebcf11309\" tg-width=\"720\" tg-height=\"464\" referrerpolicy=\"no-referrer\"/></p><p><b>ECB Governing Council Kazaks calls rate hike \"quite possible\" this year</b></p><p>Martins Kazaks, a member of the European Central Bank's Governing Council, said it was \"quite possible\" that rate hike would cope with the unprecedented surge in euro zone prices in 2022, but it would not \"undermine the status quo\" when tightening monetary policy.</p><p>\"It will depend on the data,\" the Latvian central bank governor said in an interview. \"We still have to wait, but it is likely to happen this year.\"</p><p>Kazaks said that inflation has now topped 5% after a surprise record in the past two months, and the picture is becoming clearer for ECB policymakers. \"We think inflation is significantly higher than in the past, which will change the direction of gravity.\"</p><p>The remarks brought Kazaks in line with the most hawkish members of the governing board-including German Joachim Nagel and Dutch Klaas Knot. The latter two both floated the idea of a 2022 rate hike after Governor Christine Lagarde was reluctant to rule out a rate hike this year earlier this month.</p><p>Lagarde later warned that premature policy tightening could jeopardize Europe's post-pandemic economic rebound. Kazaks agreed that \"if interest rates rise too quickly, it will have an impact on the economic recovery\" and urged a \"cautious and gradual\" approach.</p><p><img src=\"https://static.tigerbbs.com/5e6ad3eb0c75854ff53be3e3c038091c\" tg-width=\"720\" tg-height=\"405\" referrerpolicy=\"no-referrer\"/></p><p><b>U.S. homebuilder confidence falls to lowest level since October, home sales outlook weakens</b></p><p>Due to rising labor and supply costs, the confidence index of homebuilders in the United States fell to a four-month low in February. Coupled with rising interest rates, the mortgage cost of homebuyers increased, and the prospect of home sales was also affected.</p><p>According to National Association of Home Builders (NAHB)/<a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>According to the data, the builder confidence index fell to 82 in February from 83 last month. This figure is in line with the median expectation of economists surveyed by Bloomberg.</p><p>Home builders are struggling to meet strong demand amid supply shortages and rising labor and material costs. The national housing market has generally heated up, pushing home prices to record highs, which may begin to deter more buyers from entering the market, especially as the Federal Reserve prepares for a rate hike and mortgage costs rise.</p><p>\"These higher development costs have hit first-time homebuyers particularly hard, and while demand for home purchases remains strong, higher interest rates in 2022 will further weaken homebuyers' appreciation of home prices,\" NAHB chief economist Robert Dietz said in a statement. affordability. \"</p><p>A gauge that assesses sales expectations for the next six months fell to 80, the lowest since June. The potential buyer traffic indicator fell to 65, the lowest since October last year. A measure of current single-family home sales rose slightly.</p><p><img src=\"https://static.tigerbbs.com/42acbe5b923a2b67fd5cfb460c40f3c8\" tg-width=\"720\" tg-height=\"466\" referrerpolicy=\"no-referrer\"/></p><p><b>Google announces the launch of Android privacy sandbox and plans to release developer preview version within the year</b></p><p>Google announced the launch of Android Privacy Sandbox, which aims to introduce newer and more private advertising solutions to limit the sharing of user information with third-party organizations, but without harming the short-term interests of advertisers. According to reports, Google plans to release the developer preview version of the privacy sandbox along with the beta version within the year.</p><p>\"We are exploring technologies that reduce the feasibility of covert data collection, including integrating applications with advertising SDKs in a more secure way,\" said Anthony Chavez, vice president of product management for security and privacy at Android.</p><p>According to reports, the privacy sandbox launched this time is based on the existing web page of Android, which provides a clear path for improving Android privacy without affecting users' access to free content and services.</p><p><img src=\"https://static.tigerbbs.com/0656e6e9660e6cadb7f36f0ada0378e1\" tg-width=\"720\" tg-height=\"454\" referrerpolicy=\"no-referrer\"/></p><p><b>Former UK Deputy Prime Minister Clegg promoted to Meta's global affairs president, Zuckerberg pulls back from policy affairs</b></p><p><a href=\"https://laohu8.com/S/FB\">Meta Platforms</a>Inc. CEO Mark Zuckerberg promoted his top policy officer, Nick Clegg, with greater authority, meaning Zuckerberg and COO Sheryl Sandberg will be less involved in future policy decisions.</p><p>Clegg is already leading Meta's global policy unit, but Zuckerberg said in an article Wednesday that he will now lead all policy matters for the company, including interactions with the government and how Meta \"presents our products and our work to the public.\" Clegg, who previously reported to Sandberg, now also reports to Zuckerberg, with the new title of president of global affairs.</p><p>The expansion of Clegg's authority means that Zuckerberg and Sandberg will rely more on Clegg to make policy decisions. According to informed sources, Zuckerberg, in particular, has spent a lot of time on policy issues such as content review and supervision in recent years, which is not what he wanted. According to people familiar with the matter, Zuckerberg would rather spend more time in areas where he has more experience, such as Meta's technology and products, including plans to build a new immersive Internet, known as metaverse.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/usstock/c/2022-02-17/doc-ikyakumy6350360.shtml\">新浪财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/744e62b469087a5d5a1e4a9098412f31","relate_stocks":{"BK4534":"瑞士信贷持仓","BK4559":"巴菲特持仓",".DJI":"道琼斯","BK4504":"桥水持仓",".IXIC":"NASDAQ Composite","SPY":"标普500ETF","BK4550":"红杉资本持仓"},"source_url":"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/usstock/c/2022-02-17/doc-ikyakumy6350360.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2212660062","content_text":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：1、美联储会议纪要：通胀过高支持尽早加息 必要时或加快紧缩步伐2、美国零售销售强劲反弹 创10个月来最大增幅3、欧洲央行管委Kazaks称今年“颇为有可能”加息4、美国住宅建筑商信心指数跌至10月来最低 房屋销售前景转弱5、谷歌宣布推出Android隐私沙盒 计划年内发布开发者预览版6、前英国副首相Clegg升任Meta全球事务总裁 扎克伯格从政策事务抽身美联储会议纪要：通胀过高支持尽早加息 必要时或加快紧缩步伐美联储周三公布了1月份联邦公开市场委员会（FOMC）货币政策会议的纪要文件。会议纪要显示，美联储官员们认为美国通胀过高，支持尽快进行一次加息，并可能加快政策紧缩步伐。会议纪要显示，美联储官员们认为很快将适合加息。多数与会者认为，与2015年后相比，联邦基金利率目标区间的上调步伐可能会加快。纪要显示，“多数与会者指出，如果通胀率没有如预期下行，那么委员会以比目前预期的速度更快取消宽松政策将是合适之举”。与会者继续认为，美联储净资产购买计划应该很快结束。几位与会者表示，他们倾向于尽早结束净资产购买计划，以发出更强烈的信号，表明美联储致力于降低通胀。许多与会者表示，出售机构住房抵押贷款支持证券或将从机构住房抵押贷款支持证券收到的部分本金再投资于美国国债，在未来的某个时候可能是合适的。纪要显示，美联储资产负债表计划将在“即将召开的会议”中确定，未来大幅缩减资产负债表可能会是适宜的。纪要称，“许多与会者认为，形势可能支持今年晚些时候开始缩减资产负债表规模。”美国零售销售强劲反弹 创10个月来最大增幅美国零售销售反弹超过预期，并创下去年3月份以来的最大增幅，因疫情和通胀无碍美国人的消费支出。美国商务部周三公布的数据显示，1月份零售销售总额增长3.8%，上月下修为下降2.5%。这些数字都没有经过通胀调整。媒体调查经济学家对1月零售销售的预估中值为环比增长2%。此次零售销售的广泛增长凸显了美国人对商品需求的韧性。虽然omicron毒株和新冠病例激增可能抑制本月的服务支出，但劳动力市场的改善帮助消费者继续购买汽车和家具等产品，而无视处于数十年来最高的通胀。欧洲央行管委Kazaks称今年“颇为有可能”加息欧洲央行管理委员会成员Martins Kazaks表示，“颇为有可能”在2022年加息以应对欧元区物价的空前飙升局面，但在收紧货币政策时不能“破坏现状”。“这将取决于数据，”这位拉脱维亚央行行长在接受采访时说，“我们还需等待，但颇有可能会在今年发生。”Kazaks表示，通胀在过去两个月意外创下纪录后现已突破5%，对于欧洲央行决策者而言，情况变得更加清晰。“我们认为通胀率明显高于过去，这将改变重力方向。”这些言论使Kazaks与管理委员会中最鹰派的成员--包括德国Joachim Nagel和荷兰Klaas Knot--保持了一致。后两人在行长克里斯蒂娜·拉加德本月早些时候不愿排除今年加息可能性之后，都提出了2022年加息的想法 。拉加德后来警告称，过早收紧政策可能危及欧洲疫情后的经济反弹。Kazaks同意“如果利率上升太快，将对经济复苏产生影响”，并敦促采取“谨慎和渐进”的做法。美国住宅建筑商信心指数跌至10月来最低 房屋销售前景转弱因劳动力和供应成本上升，美国2月份住宅建筑商信心指数降至四个月低点，加之利率上升，购房者的房贷成本加重，房屋销售前景也受到影响。根据美国全国住宅建筑商协会（NAHB）/富国银行的数据，2月份建筑商信心指数从上个月的83降至82。这个数字与接受彭博调查的经济学家预期中值一致。在供应短缺，劳动力和材料成本上升的背景下，住房建筑商难以满足旺盛需求。全国住宅市场普遍升温，推动房价触及纪录高位，这可能会开始阻止更多买家入场，尤其是在美联储准备加息，房贷成本升高的情况下。NAHB首席经济学家Robert Dietz在声明中表示，“这些较高的开发成本对首次购房者的打击尤其严重，尽管购房需求仍然强劲，但2022年更高的利率将进一步削弱购房者对房价的承受力。”评估未来六个月销售预期的指标跌至80，为6月份以来最低。 潜在买家流量指标跌至65，为去年10月以来最低。一项衡量当前单户住宅销量的指标略有上升。谷歌宣布推出Android隐私沙盒 计划年内发布开发者预览版谷歌宣布推出Android隐私沙盒，旨在引入更新、更具私密性的广告解决方案，以限制与第三方机构共享用户信息，但却不损害广告主短期利益。据介绍，谷歌计划在年内随测试版一起发布隐私沙盒开发者预览版。“我们正在探索降低隐蔽数据收集可行性的技术，包括通过更加安全的方式来完成应用程序与广告 SDK的集成。”Android 安全与隐私产品管理副总裁Anthony Chavez表示。据介绍，此次推出的隐私沙盒建立在Android已有的网页端基础之上，为改善Android隐私提供了一条清晰的路径，同时又不会影响用户对免费内容和服务的访问。前英国副首相Clegg升任Meta全球事务总裁 扎克伯格从政策事务抽身Meta Platforms Inc．首席执行官马克·扎克伯格晋升他的最高政策官Nick Clegg，赋予更大权限，意味着扎克伯格和首席运营官Sheryl Sandberg将减少参与未来的政策决策。Clegg已经在领导Meta的全球政策部门，但扎克伯格周三在一篇文章中表示，他现在将领导公司的所有政策事务，包括与政府的互动以及Meta如何“向公众呈现我们的产品和我们的工作。”之前向Sandberg汇报的Clegg现在也向扎克伯格汇报，新的头衔是全球事务总裁。Clegg的职权扩大意味着扎克伯格和Sandberg将更多依赖Clegg去做政策决策。知情人士透露，尤其是扎克伯格近年来在内容审核和监管等政策问题上花了很多时间，非自己所愿。据知情人士透露，扎克伯格宁愿把更多时间花在Meta的技术和产品等他更有经验的领域，包括建立一个新的沉浸式互联网（人称元宇宙）的计划。","news_type":1,"symbols_score_info":{"SPY":1,".DJI":1,".IXIC":1}},"isVote":1,"tweetType":1,"viewCount":665,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":105051115,"gmtCreate":1620260833237,"gmtModify":1704340883761,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575508103712478","authorIdStr":"3575508103712478"},"themes":[],"htmlText":"Good news","listText":"Good news","text":"Good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/105051115","repostId":"1145881706","repostType":4,"repost":{"id":"1145881706","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1620256293,"share":"https://ttm.financial/m/news/1145881706?lang=en_US&edition=fundamental","pubTime":"2021-05-06 07:11","market":"us","language":"zh","title":"PayPal's first-quarter net profit increased by 1206% year-on-year, and its stock price rose more than 4% after hours.","url":"https://stock-news.laohu8.com/highlight/detail?id=1145881706","media":"老虎资讯综合","summary":"5月6日，在线支付服务商Paypal周三盘后公布了该公司第一季度财报。财报显示，第一季度营收60.3亿美元，市场预期59.04亿美元，去年同期46.18亿美元；第一季度净利润10.97亿美元，市场预期净利润7.95亿美元，去年同期净利润0.84亿美元；第一季度每股盈利0.92美元，市场预期0.65美元，去年同期0.07美元。在截至3月31日的这一财季，PayPal的净利润为10.97亿美元，比上年同期的8400万美元增长1206%；每股摊薄收益为0.92美元，比去年同期的0.07美元增长1200%。","content":"<p>On May 6, online payment service provider Paypal announced the company's first-quarter financial report after the market closed on Wednesday. The financial report shows that revenue in the first quarter was US $6.03 billion, market expectations were US $5.904 billion, and US $4.618 billion in the same period last year; The net profit in the first quarter was US $1.097 billion, the market expected a net profit of US $795 million, and a net profit of US $84 million in the same period last year; Earnings per share in the first quarter were US $0.92, compared with market expectations of US $0.65 and US $0.07 in the same period last year.</p><p><img src=\"https://static.tigerbbs.com/b310be06ef646365a11b0ad68717cf98\" tg-width=\"838\" tg-height=\"638\"></p><p><b>Financial performance and operational metrics:</b></p><p>In the fiscal quarter ended March 31, PayPal's net profit was US $1.097 billion, an increase of 1206% from US $84 million in the same period last year; Diluted earnings per share were $0.92, an increase of 1,200% from $0.07 in the same period last year. Excluding certain one-time items (not in accordance with US GAAP), PayPal's adjusted net profit in the first quarter was US $1.455 billion, an increase of 85% compared with US $786 million in the same period last year; Adjusted earnings per share were $1.22, an increase of 84% compared to $0.66 in the same period last year, and beat analysts' expectations. According to data provided by Yahoo Finance Channel, 38 analysts had previously expected PayPal's earnings per share in the first quarter to reach $1.01 on average.</p><p>PayPal's net revenue in the first quarter was US $6.033 billion, an increase of 31% from US $4.618 billion in the same period last year. Excluding the impact of exchange rate changes, it was a year-on-year increase of 29%. This performance also exceeded analysts' expectations. According to data provided by Yahoo Finance Channel, 36 analysts had previously expected PayPal's first-quarter revenue to reach $5.9 billion on average.</p><p>PayPal's total payment volume (TPV) in the first quarter was US $285.447 billion, an increase of 50% from US $190.567 billion in the same period last year, and a year-on-year increase of 46% excluding the impact of exchange rate changes.</p><p>PayPal's total operating expenses in the first quarter were $4.991 billion, compared with $4.220 billion in the same period last year. Among them, transaction expenses were US $2.275 billion, compared with US $1.739 billion in the same period last year; Trading and loan losses were $273 million, compared to $591 million in the same period last year; Customer support and operating expenses were $518 million, compared to $399 million in the same period last year; Sales and marketing expenses were $602 million, compared to $371 million in the same period last year; Technology and development expenditures were $741 million, compared to $605 million in the same period last year; General and administrative expenses were $524 million, compared to $486 million in the same period last year; Restructuring and other expenses were $58 million, compared to $29 million in the same period last year.</p><p>PayPal's operating profit in the first quarter was $104.2 billion, compared with $398 million in the same period last year; Operating margin was 17.3%, an increase of 865 basis points compared to 8.6% in the same period last year. Not in accordance with U.S. GAAP, PayPal's adjusted operating profit in the first quarter was $1.673 billion, compared with $908 million in the same period last year; Adjusted operating margin was 27.7%, up 807 basis points compared to 19.7% in the year-ago quarter.</p><p>PayPal's cash flow from business operating activities in the first quarter was US $1.758 billion, an increase of 24% compared with US $1.421 billion in the same period last year; Free cash flow was $1.537 billion, an increase of 27% compared to $1.215 billion in the same period last year. As of December 31, 2021, PayPal held cash and cash equivalents and non-equity investments totaling $19.1 billion and total liabilities of $8.9 billion. PayPal's effective tax rate in the first quarter was-25.8%, a decrease of 93.9 percentage points compared with 68.1% in the same period last year; Not in accordance with U.S. GAAP, PayPal's effective tax rate in the first quarter was 10.4%, down 2.0 percentage points compared with 12.4% in the same period last year. PayPal returned $1.3 billion in cash to shareholders in the first quarter by repurchasing approximately 5.3 million shares of common stock.</p><p>PayPal's net new active accounts in the first quarter were 14.5 million, an increase of 21% compared with the same period last year, and the total active accounts reached 392 million. In the first quarter, PayPal processed 4.4 billion transactions, a year-on-year increase of 34%. In the past 12 months, PayPal processed 42.2 transactions per active account, a year-on-year increase of 7%.</p><p><b>Results outlook:</b></p><p>PayPal expects that the company's net revenue will reach US $6.25 billion in the second quarter of fiscal year 2021, a year-on-year increase of 19%, and a year-on-year increase of 17% excluding the impact of exchange rate changes, exceeding expectations; Diluted earnings per share are expected to reach $0.76, compared to $1.29 in the same period last year; Non-GAAP adjusted earnings per share are expected to be $1.12, up 5% year-over-year and also beating expectations. The second quarter earnings per share outlook includes an expected net unrealized gain of approximately $0.58 per share, which comes from PayPal's strategic investment portfolio; Non-GAAP performance expectations for the second quarter reflect adjustments of approximately $525 million, which include equity award expenses and their related payroll taxes expected to be approximately $400 million. According to statistics from Yahoo Finance Channel, 35 analysts had previously expected PayPal's second-quarter revenue to reach US $6.16 billion on average, and 37 analysts had previously expected PayPal's second-quarter earnings per share to reach US $1.1 on average.</p><p>PayPal predicts that the company's net revenue for the full year of fiscal year 2021 will reach US $25.75 billion, a year-on-year increase of 20%, and a year-on-year increase of 18.5% excluding the impact of exchange rate changes, slightly exceeding expectations; Diluted earnings per share are expected to reach $3.33; Non-GAAP adjusted earnings per share are expected to be $4.70, up 21% year-over-year and also beat expectations. The fiscal 2021 earnings per share outlook includes an expected net unrealized gain of approximately $1.24 per share, which comes from PayPal's strategic portfolio; Non-GAAP performance expectations for fiscal 2021 reflect adjustments of approximately $2.21 billion, which include equity award expenses and their related payroll taxes expected to be approximately $1.7 billion. According to statistics from Yahoo Finance Channel, 47 analysts had previously expected PayPal's annual revenue to reach US $25.71 billion on average, and 47 analysts had previously expected PayPal's annual earnings per share to reach US $4.57 on average.</p><p>PayPal expects the company's net new active accounts to be between 52 million and 55 million for the full year of fiscal 2021, and expects total full-year payments to increase by 30% year-on-year.</p><p>After the financial report was announced, Paypal's stock price rose more than 4% after hours. The company's stock price closed down 1.1% on Wednesday at $247.4.</p><p><img src=\"https://static.tigerbbs.com/66cc879026e08bd5e63401804a1e1ced\" tg-width=\"1302\" tg-height=\"833\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal's first-quarter net profit increased by 1206% year-on-year, and its stock price rose more than 4% after hours.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal's first-quarter net profit increased by 1206% year-on-year, and its stock price rose more than 4% after hours.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-05-06 07:11</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On May 6, online payment service provider Paypal announced the company's first-quarter financial report after the market closed on Wednesday. The financial report shows that revenue in the first quarter was US $6.03 billion, market expectations were US $5.904 billion, and US $4.618 billion in the same period last year; The net profit in the first quarter was US $1.097 billion, the market expected a net profit of US $795 million, and a net profit of US $84 million in the same period last year; Earnings per share in the first quarter were US $0.92, compared with market expectations of US $0.65 and US $0.07 in the same period last year.</p><p><img src=\"https://static.tigerbbs.com/b310be06ef646365a11b0ad68717cf98\" tg-width=\"838\" tg-height=\"638\"></p><p><b>Financial performance and operational metrics:</b></p><p>In the fiscal quarter ended March 31, PayPal's net profit was US $1.097 billion, an increase of 1206% from US $84 million in the same period last year; Diluted earnings per share were $0.92, an increase of 1,200% from $0.07 in the same period last year. Excluding certain one-time items (not in accordance with US GAAP), PayPal's adjusted net profit in the first quarter was US $1.455 billion, an increase of 85% compared with US $786 million in the same period last year; Adjusted earnings per share were $1.22, an increase of 84% compared to $0.66 in the same period last year, and beat analysts' expectations. According to data provided by Yahoo Finance Channel, 38 analysts had previously expected PayPal's earnings per share in the first quarter to reach $1.01 on average.</p><p>PayPal's net revenue in the first quarter was US $6.033 billion, an increase of 31% from US $4.618 billion in the same period last year. Excluding the impact of exchange rate changes, it was a year-on-year increase of 29%. This performance also exceeded analysts' expectations. According to data provided by Yahoo Finance Channel, 36 analysts had previously expected PayPal's first-quarter revenue to reach $5.9 billion on average.</p><p>PayPal's total payment volume (TPV) in the first quarter was US $285.447 billion, an increase of 50% from US $190.567 billion in the same period last year, and a year-on-year increase of 46% excluding the impact of exchange rate changes.</p><p>PayPal's total operating expenses in the first quarter were $4.991 billion, compared with $4.220 billion in the same period last year. Among them, transaction expenses were US $2.275 billion, compared with US $1.739 billion in the same period last year; Trading and loan losses were $273 million, compared to $591 million in the same period last year; Customer support and operating expenses were $518 million, compared to $399 million in the same period last year; Sales and marketing expenses were $602 million, compared to $371 million in the same period last year; Technology and development expenditures were $741 million, compared to $605 million in the same period last year; General and administrative expenses were $524 million, compared to $486 million in the same period last year; Restructuring and other expenses were $58 million, compared to $29 million in the same period last year.</p><p>PayPal's operating profit in the first quarter was $104.2 billion, compared with $398 million in the same period last year; Operating margin was 17.3%, an increase of 865 basis points compared to 8.6% in the same period last year. Not in accordance with U.S. GAAP, PayPal's adjusted operating profit in the first quarter was $1.673 billion, compared with $908 million in the same period last year; Adjusted operating margin was 27.7%, up 807 basis points compared to 19.7% in the year-ago quarter.</p><p>PayPal's cash flow from business operating activities in the first quarter was US $1.758 billion, an increase of 24% compared with US $1.421 billion in the same period last year; Free cash flow was $1.537 billion, an increase of 27% compared to $1.215 billion in the same period last year. As of December 31, 2021, PayPal held cash and cash equivalents and non-equity investments totaling $19.1 billion and total liabilities of $8.9 billion. PayPal's effective tax rate in the first quarter was-25.8%, a decrease of 93.9 percentage points compared with 68.1% in the same period last year; Not in accordance with U.S. GAAP, PayPal's effective tax rate in the first quarter was 10.4%, down 2.0 percentage points compared with 12.4% in the same period last year. PayPal returned $1.3 billion in cash to shareholders in the first quarter by repurchasing approximately 5.3 million shares of common stock.</p><p>PayPal's net new active accounts in the first quarter were 14.5 million, an increase of 21% compared with the same period last year, and the total active accounts reached 392 million. In the first quarter, PayPal processed 4.4 billion transactions, a year-on-year increase of 34%. In the past 12 months, PayPal processed 42.2 transactions per active account, a year-on-year increase of 7%.</p><p><b>Results outlook:</b></p><p>PayPal expects that the company's net revenue will reach US $6.25 billion in the second quarter of fiscal year 2021, a year-on-year increase of 19%, and a year-on-year increase of 17% excluding the impact of exchange rate changes, exceeding expectations; Diluted earnings per share are expected to reach $0.76, compared to $1.29 in the same period last year; Non-GAAP adjusted earnings per share are expected to be $1.12, up 5% year-over-year and also beating expectations. The second quarter earnings per share outlook includes an expected net unrealized gain of approximately $0.58 per share, which comes from PayPal's strategic investment portfolio; Non-GAAP performance expectations for the second quarter reflect adjustments of approximately $525 million, which include equity award expenses and their related payroll taxes expected to be approximately $400 million. According to statistics from Yahoo Finance Channel, 35 analysts had previously expected PayPal's second-quarter revenue to reach US $6.16 billion on average, and 37 analysts had previously expected PayPal's second-quarter earnings per share to reach US $1.1 on average.</p><p>PayPal predicts that the company's net revenue for the full year of fiscal year 2021 will reach US $25.75 billion, a year-on-year increase of 20%, and a year-on-year increase of 18.5% excluding the impact of exchange rate changes, slightly exceeding expectations; Diluted earnings per share are expected to reach $3.33; Non-GAAP adjusted earnings per share are expected to be $4.70, up 21% year-over-year and also beat expectations. The fiscal 2021 earnings per share outlook includes an expected net unrealized gain of approximately $1.24 per share, which comes from PayPal's strategic portfolio; Non-GAAP performance expectations for fiscal 2021 reflect adjustments of approximately $2.21 billion, which include equity award expenses and their related payroll taxes expected to be approximately $1.7 billion. According to statistics from Yahoo Finance Channel, 47 analysts had previously expected PayPal's annual revenue to reach US $25.71 billion on average, and 47 analysts had previously expected PayPal's annual earnings per share to reach US $4.57 on average.</p><p>PayPal expects the company's net new active accounts to be between 52 million and 55 million for the full year of fiscal 2021, and expects total full-year payments to increase by 30% year-on-year.</p><p>After the financial report was announced, Paypal's stock price rose more than 4% after hours. The company's stock price closed down 1.1% on Wednesday at $247.4.</p><p><img src=\"https://static.tigerbbs.com/66cc879026e08bd5e63401804a1e1ced\" tg-width=\"1302\" tg-height=\"833\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3f3d6910b39b74c9e31da213a675621c","relate_stocks":{"PYPL":"PayPal"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145881706","content_text":"5月6日，在线支付服务商Paypal周三盘后公布了该公司第一季度财报。财报显示，第一季度营收60.3亿美元，市场预期59.04亿美元，去年同期46.18亿美元；第一季度净利润10.97亿美元，市场预期净利润7.95亿美元，去年同期净利润0.84亿美元；第一季度每股盈利0.92美元，市场预期0.65美元，去年同期0.07美元。\n\n财务业绩和运营指标：\n在截至3月31日的这一财季，PayPal的净利润为10.97亿美元，比上年同期的8400万美元增长1206%；每股摊薄收益为0.92美元，比去年同期的0.07美元增长1200%。不计入某些一次性项目（不按照美国通用会计准则），PayPal第一季度调整后净利润为14.55亿美元，与上年同期的7.86亿美元相比增长85%；调整后每股收益为1.22美元，与上年同期的0.66美元相比增长84%，超出分析师预期。据雅虎财经频道提供的数据显示，38名分析师此前平均预期PayPal第一季度每股收益将达1.01美元。\nPayPal第一季度净营收为60.33亿美元，比上年同期的46.18亿美元增长31%，不计入汇率变动的影响为同比增长29%，这一业绩也超出分析师预期。据雅虎财经频道提供的数据显示，36名分析师此前平均预期PayPal第一季度营收将达59亿美元。\nPayPal第一季度总支付额（TPV）为2854.47亿美元，比去年同期的1905.67亿美元增长50%，不计入汇率变动的影响为同比增长46%。\nPayPal第一季度总运营支出为49.91亿美元，相比之下上年同期为42.20亿美元。其中，交易支出为22.75亿美元，相比之下上年同期为17.39亿美元；交易和贷款损失为2.73亿美元，相比之下上年同期为5.91亿美元；客户支持和运营支出为5.18亿美元，相比之下上年同期为3.99亿美元；销售和营销支出为6.02亿美元，相比之下上年同期为3.71亿美元；技术和开发支出为7.41亿美元，相比之下上年同期为6.05亿美元；总务和行政支出为5.24亿美元，相比之下上年同期为4.86亿美元；重组及其他支出为5800万美元，相比之下上年同期为2900万美元。\nPayPal第一季度运营利润为1042亿美元，相比之下去年同期的运营利润为3.98亿美元；运营利润率为17.3%，与去年同期的8.6%相比上升865个基点。不按照美国通用会计准则，PayPal第一季度调整后运营利润为16.73亿美元，相比之下去年同期为9.08亿美元；调整后运营利润率为27.7%，与去年同期的19.7%相比上升807个基点。\nPayPal第一季度来自于业务运营活动的现金流为17.58亿美元，与上年同期的14.21亿美元相比增长24%；自由现金流为15.37亿美元，与上年同期的12.15亿美元相比增长27%。截至2021年12月31日，PayPal持有的现金和现金等价物以及非股权投资总额为191亿美元，总负债为89亿美元。PayPal第一季度有效税率为-25.8%，与上年同期的68.1%相比下降93.9个百分点；不按照美国通用会计准则，PayPal第一季度有效税率为10.4%，与去年同期的12.4%相比下降2.0个百分点。PayPal在第一季度中通过回购约530万股普通股的形式向股东返还了13亿美元现金。\nPayPal第一季度净新增活跃账户为1450万个，与去年同期相比增长21%，总活跃账户达到了3.92亿个。在第一季度中，PayPal处理的交易量达到了44亿次，同比增长34%。在过去12个月时间里，PayPal的每活跃账户交易处理量为42.2次，同比增长7%。\n业绩展望：\nPayPal预计，2021财年第二季度该公司净营收将达62.5亿美元，同比增长19%，不计入汇率变动的影响为同比增长17%，超出预期；每股摊薄收益预计将达0.76美元，相比之下去年同期为1.29美元；不按照美国通用会计准则的调整后每股收益预计将达1.12美元，同比增长5%，也超出预期。第二季度每股收益展望中包含了一笔约为每股0.58美元的预期净未实现收益，这项收益来自于PayPal的战略投资组合；第二季度不按照美国通用会计准则的业绩预期反映了约5.25亿美元的调整，其中包括预计约为4亿美元的股权奖励支出及其相关工资税。据雅虎财经频道统计的数据显示，35名分析师此前平均预期PayPal第二季度营收将达61.6亿美元，37名分析师此前平均预期PayPal第二季度每股收益将达1.1美元。\nPayPal预计，2021财年全年该公司净营收将达257.5亿美元，同比增长20%，不计入汇率变动的影响为同比增长18.5%，略微超出预期；每股摊薄收益预计将达3.33美元；不按照美国通用会计准则的调整后每股收益预计将达4.70美元，同比增长21%，也超出预期。2021财年每股收益展望中包含了一笔约为每股1.24美元的预期净未实现收益，这项收益来自于PayPal的战略投资组合；2021财年不按照美国通用会计准则的业绩预期反映了约22.1亿美元的调整，其中包括预计约为17亿美元的股权奖励支出及其相关工资税。据雅虎财经频道统计的数据显示，47名分析师此前平均预期PayPal全年营收将达257.1亿美元，47名分析师此前平均预期PayPal全年每股收益将达4.57美元。\nPayPal预计，2021财年全年该公司的净新增活跃账户将在5200万到5500万个之间，并预计全年总支付额将同比增长30%。\n财报公布后，Paypal股价盘后涨超4%，该公司股价周三收跌1.1%，报247.4美元。","news_type":1,"symbols_score_info":{"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":312,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3577161019857161","authorId":"3577161019857161","name":"Weimar","avatar":"https://static.tigerbbs.com/da6e5b3d505c60c5dbc3873ae72d6e3b","crmLevel":1,"crmLevelSwitch":0,"idStr":"3577161019857161","authorIdStr":"3577161019857161"},"content":"Nice performance","text":"Nice performance","html":"Nice performance"},{"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"idStr":"3575508103712478","authorIdStr":"3575508103712478"},"content":"Help me reply and do the task, thank you!","text":"Help me reply and do the task, thank you!","html":"Help me reply and do the task, thank you!"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9005545063,"gmtCreate":1642374925905,"gmtModify":1676533704545,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575508103712478","authorIdStr":"3575508103712478"},"themes":[],"htmlText":"Hao&nbsp;","listText":"Hao&nbsp;","text":"Hao","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005545063","repostId":"2204233977","repostType":4,"isVote":1,"tweetType":1,"viewCount":402,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039027196,"gmtCreate":1645848032425,"gmtModify":1676534070324,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575508103712478","authorIdStr":"3575508103712478"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039027196","repostId":"1188917647","repostType":4,"isVote":1,"tweetType":1,"viewCount":1033,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030183581,"gmtCreate":1645662237185,"gmtModify":1676534050243,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575508103712478","authorIdStr":"3575508103712478"},"themes":[],"htmlText":"Not good","listText":"Not good","text":"Not good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030183581","repostId":"1153372780","repostType":4,"isVote":1,"tweetType":1,"viewCount":762,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815997901,"gmtCreate":1630634214503,"gmtModify":1676530361756,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575508103712478","authorIdStr":"3575508103712478"},"themes":[],"htmlText":"Zan","listText":"Zan","text":"Zan","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815997901","repostId":"2164782990","repostType":4,"repost":{"id":"2164782990","kind":"news","pubTimestamp":1630618740,"share":"https://ttm.financial/m/news/2164782990?lang=en_US&edition=fundamental","pubTime":"2021-09-03 05:39","market":"hk","language":"zh","title":"Foreign media headlines: Morgan Stanley slashes US third-quarter GDP forecast to 2.9%","url":"https://stock-news.laohu8.com/highlight/detail?id=2164782990","media":"新浪财经","summary":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、摩根士丹利预计美国经济增长放缓集中在三季度 大砍GDP预期至2.9%\n\n\n2、沃顿商学院金融教授：美联储的失误或导致美股重大回调\n\n\n3、非农就业","content":"<p><b>The headlines that the global financial media paid attention to last night and this morning mainly include:</b></p><p><b>1、<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>The slowdown in U.S. economic growth is expected to be concentrated in the third quarter, cutting GDP forecasts to 2.9%</b><b>2. Wharton School of Finance Professor: The Fed's mistakes may lead to a major correction in US stocks</b><b>3. Non-farm employment may show that the impact of the Delta epidemic has a significant impact on the Fed's tapering schedule</b><b>4. After facing antitrust investigations in many places around the world<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The company waives 30% commission fee for media applications</b><b>6. Chip shortages hit the auto industry hard. Ford's U.S. car sales plummeted 33% in August</b><b>6. The return of Bridgewater hedge fund is not satisfactory, and a California pension fund is considering whether to withdraw its capital</b><img src=\"https://static.tigerbbs.com/1037384d71652629777ece4778a09448\" tg-width=\"535\" tg-height=\"352\" referrerpolicy=\"no-referrer\"></p><p><b><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>The slowdown in U.S. economic growth is expected to be concentrated in the third quarter, cutting GDP forecasts to 2.9%</b></p><p>Economists at Morgan Stanley said the slowdown in economic growth in the second half of the year is expected to occur mainly in the third quarter, largely due to stimulus spending recovery and ongoing supply chain problems.</p><p>Economist Ellen Zentner and others said in a report on Thursday that third-quarter GDP growth is currently tracking at 2.9%, far lower than the previous 6.5%.</p><p>They wrote: \"The U.S. economy is moving away from the growth rate of the first half of the year, cooling down by the outbreak of activity stimulated by stimulus spending and economic reopening.\"</p><p>Lower spending on durable goods, including automobiles, is dragging down economic growth, and inventories remain low. August saw a broad decline in economic activity as rising inflation and the spread of the Delta strain weighed on consumer confidence.</p><p><img src=\"https://static.tigerbbs.com/d59eede34c9094bd59c8cb3e9bdfae52\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\"></p><p><b>Wharton Finance Professor: The Fed's mistakes may lead to a major correction in U.S. stocks</b></p><p>Jeremy Siegel, a finance professor at Wharton Business School, said on Thursday that he expects the return rate of U.S. stocks to slow down in the future, and the policy mistakes of the Federal Reserve may lead to the \"next major correction\" of U.S. stocks.</p><p>Siegel quotes an old Wall Street saying that the market \"takes the stairs upstairs and takes the elevator downstairs\".</p><p>\"We're going up the stairs. I don't know when the elevator will come, but in a sense it looks like a momentum trade where the market is just going up a little bit every day and there's no real news to push and a lot of momentum players are piling up,\" Siegel added. \"We've had this before. It's hard to say when this will end.\"</p><p>Siegel said he sees the catalyst for the sharp pullback in stocks as the Federal Reserve's sudden change from the highly accommodative policies it adopted during the pandemic.</p><p>Siegel has stressed for months that Federal Reserve Chairman Jerome Powell mistakenly thought inflationary pressures would be temporary. Siegel believes inflation will rise faster than the Fed expects.</p><p><img src=\"https://static.tigerbbs.com/c0e2d21638d7635281c0f5402aa608d7\" tg-width=\"550\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p><p><b>Non-farm payrolls may show that the impact of the Delta epidemic has a significant impact on the Fed's tapering timetable</b></p><p>As Federal Reserve officials enthusiastically discuss tapering bond purchases later this year, investors will be watching the non-farm payrolls report scheduled for Friday to get an idea of the state of the U.S. labor market.</p><p>The median forecast of economists shows that the employment population may increase by 725,000 in August, which is slower than the growth rate in the previous two months, but stronger than the growth rate at the beginning of this year.</p><p>Strong data will indicate more success in hiring for businesses after months of limited labor supply. But risks associated with the Delta strain could mean weaker-than-expected non-farm payrolls data and complicate the Fed's timeline for tapering asset purchases.</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Economists released a report saying that \"the weakness in employment activity will be in line with other economic data that has softened since the surge in COVID cases caused by the Delta strain.\" They expect non-farm payrolls to increase by 600,000 in August.</p><p>The above-mentioned economists said, \"If our employment data forecast comes true, this weakness may be enough to make the Fed hope to see more data before tapering.\"</p><p><img src=\"https://static.tigerbbs.com/ed416a15995e1ad932cd1130e95cb34f\" tg-width=\"550\" tg-height=\"344\" referrerpolicy=\"no-referrer\"></p><p><b>After facing antitrust investigations in many places around the world<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The company waives 30% commission fee for media applications</b></p><p>Apple will allow developers of some apps, such as Netflix, to link to external websites from its app store for users to make payments. The company generally charges a 30% commission for services and purchases on the iPhone, and then it has been investigated all over the world. This move is a concession made by Apple.</p><p>Cupertino, Calif.-based Apple said the change will take effect globally from early next year for so-called reader apps, including content such as magazines, newspapers, books, audio, music and video. This decision will resolve the investigation by the Japan Fair Trade Commission.</p><p>So far, Apple has been forcing such apps to use the in-app purchase system, and Apple has to pay up to 30% commission for downloaded content and in-app subscriptions. The rule still applies to gaming apps and in-app purchases with the highest profit margins.</p><p><img src=\"https://static.tigerbbs.com/057e76e95f9c4e71488b21dae973e07a\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\"></p><p><b>Chip shortage hits auto industry hard Ford's U.S. auto sales plummet 33% in August</b></p><p><a href=\"https://laohu8.com/S/F\">Ford Motor</a>It said Thursday that vehicle sales in the U.S. plummeted 33.1% last month from a year earlier as the ongoing global chip shortage wreaked havoc on the auto industry.</p><p><a href=\"https://laohu8.com/S/F\">Ford Motor</a>Said the company's total U.S. auto sales in August were 124,176 units, down 33.1% year-over-year, with truck sales down 29.4%, SUV sales down 25.3%, and sedan sales down 86.0%.</p><p>August has historically been one of the higher months of the year for vehicle sales, but a global chip shortage has caused vehicle inventory levels to plummet to record lows and new car and truck prices to soar.</p><p>Sales of almost every model in Ford's lineup declined in the last month compared to last year. Most notably, Ford's best-selling F-Series pickup dropped 22.5% to 57,321 units.</p><p><img src=\"https://static.tigerbbs.com/8e39d28259c87b272af781a347156ae4\" tg-width=\"550\" tg-height=\"366\" referrerpolicy=\"no-referrer\"></p><p><b>Bridgewater hedge fund returns are not satisfactory, a California pension fund considers whether to withdraw its capital</b></p><p>The $21 billion retirement fund in Orange County, California, is considering whether to withdraw funds from Dalio's hedge fund, which has performed poorly for most of the past 16 years.</p><p>According to a memo from superannuation consultant Meketa Investment Group, the Orange County Employees' Retirement Fund (OCERS) has returned 4.5% annualized on its investments in the Bridgewater Pure Alpha Fund since 2005, about 2.5 percentage points below its benchmark level. The strategy has exceeded the Orange County Retirement Fund's goal only once in the past five years and has lagged on both seven-and ten-year terms.</p><p>Molly Murphy, chief investment officer at OCERS, recommended putting Bridgewater Pure Alpha on the retirement fund's watchlist. According to the aforementioned Aug. 25 memo, a group of Meketa's consultants concurred, adding that they would \"evaluate potential replacements where necessary\".</p><p>\"Typically, if an advisory firm recommends putting a fund on one client's watchlist, it is likely to give the same advice to other clients,\" said Brad Alford, head of advisory firm Alpha Capital Management. \"This may cause trouble for Bridgewater.\"</p>","source":"sina","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Foreign media headlines: Morgan Stanley slashes US third-quarter GDP forecast to 2.9%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nForeign media headlines: Morgan Stanley slashes US third-quarter GDP forecast to 2.9%\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经</strong><span class=\"h-time small\">2021-09-03 05:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>The headlines that the global financial media paid attention to last night and this morning mainly include:</b></p><p><b>1、<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>The slowdown in U.S. economic growth is expected to be concentrated in the third quarter, cutting GDP forecasts to 2.9%</b><b>2. Wharton School of Finance Professor: The Fed's mistakes may lead to a major correction in US stocks</b><b>3. Non-farm employment may show that the impact of the Delta epidemic has a significant impact on the Fed's tapering schedule</b><b>4. After facing antitrust investigations in many places around the world<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The company waives 30% commission fee for media applications</b><b>6. Chip shortages hit the auto industry hard. Ford's U.S. car sales plummeted 33% in August</b><b>6. The return of Bridgewater hedge fund is not satisfactory, and a California pension fund is considering whether to withdraw its capital</b><img src=\"https://static.tigerbbs.com/1037384d71652629777ece4778a09448\" tg-width=\"535\" tg-height=\"352\" referrerpolicy=\"no-referrer\"></p><p><b><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>The slowdown in U.S. economic growth is expected to be concentrated in the third quarter, cutting GDP forecasts to 2.9%</b></p><p>Economists at Morgan Stanley said the slowdown in economic growth in the second half of the year is expected to occur mainly in the third quarter, largely due to stimulus spending recovery and ongoing supply chain problems.</p><p>Economist Ellen Zentner and others said in a report on Thursday that third-quarter GDP growth is currently tracking at 2.9%, far lower than the previous 6.5%.</p><p>They wrote: \"The U.S. economy is moving away from the growth rate of the first half of the year, cooling down by the outbreak of activity stimulated by stimulus spending and economic reopening.\"</p><p>Lower spending on durable goods, including automobiles, is dragging down economic growth, and inventories remain low. August saw a broad decline in economic activity as rising inflation and the spread of the Delta strain weighed on consumer confidence.</p><p><img src=\"https://static.tigerbbs.com/d59eede34c9094bd59c8cb3e9bdfae52\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\"></p><p><b>Wharton Finance Professor: The Fed's mistakes may lead to a major correction in U.S. stocks</b></p><p>Jeremy Siegel, a finance professor at Wharton Business School, said on Thursday that he expects the return rate of U.S. stocks to slow down in the future, and the policy mistakes of the Federal Reserve may lead to the \"next major correction\" of U.S. stocks.</p><p>Siegel quotes an old Wall Street saying that the market \"takes the stairs upstairs and takes the elevator downstairs\".</p><p>\"We're going up the stairs. I don't know when the elevator will come, but in a sense it looks like a momentum trade where the market is just going up a little bit every day and there's no real news to push and a lot of momentum players are piling up,\" Siegel added. \"We've had this before. It's hard to say when this will end.\"</p><p>Siegel said he sees the catalyst for the sharp pullback in stocks as the Federal Reserve's sudden change from the highly accommodative policies it adopted during the pandemic.</p><p>Siegel has stressed for months that Federal Reserve Chairman Jerome Powell mistakenly thought inflationary pressures would be temporary. Siegel believes inflation will rise faster than the Fed expects.</p><p><img src=\"https://static.tigerbbs.com/c0e2d21638d7635281c0f5402aa608d7\" tg-width=\"550\" tg-height=\"385\" referrerpolicy=\"no-referrer\"></p><p><b>Non-farm payrolls may show that the impact of the Delta epidemic has a significant impact on the Fed's tapering timetable</b></p><p>As Federal Reserve officials enthusiastically discuss tapering bond purchases later this year, investors will be watching the non-farm payrolls report scheduled for Friday to get an idea of the state of the U.S. labor market.</p><p>The median forecast of economists shows that the employment population may increase by 725,000 in August, which is slower than the growth rate in the previous two months, but stronger than the growth rate at the beginning of this year.</p><p>Strong data will indicate more success in hiring for businesses after months of limited labor supply. But risks associated with the Delta strain could mean weaker-than-expected non-farm payrolls data and complicate the Fed's timeline for tapering asset purchases.</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Economists released a report saying that \"the weakness in employment activity will be in line with other economic data that has softened since the surge in COVID cases caused by the Delta strain.\" They expect non-farm payrolls to increase by 600,000 in August.</p><p>The above-mentioned economists said, \"If our employment data forecast comes true, this weakness may be enough to make the Fed hope to see more data before tapering.\"</p><p><img src=\"https://static.tigerbbs.com/ed416a15995e1ad932cd1130e95cb34f\" tg-width=\"550\" tg-height=\"344\" referrerpolicy=\"no-referrer\"></p><p><b>After facing antitrust investigations in many places around the world<a href=\"https://laohu8.com/S/AAPL\">Apple</a>The company waives 30% commission fee for media applications</b></p><p>Apple will allow developers of some apps, such as Netflix, to link to external websites from its app store for users to make payments. The company generally charges a 30% commission for services and purchases on the iPhone, and then it has been investigated all over the world. This move is a concession made by Apple.</p><p>Cupertino, Calif.-based Apple said the change will take effect globally from early next year for so-called reader apps, including content such as magazines, newspapers, books, audio, music and video. This decision will resolve the investigation by the Japan Fair Trade Commission.</p><p>So far, Apple has been forcing such apps to use the in-app purchase system, and Apple has to pay up to 30% commission for downloaded content and in-app subscriptions. The rule still applies to gaming apps and in-app purchases with the highest profit margins.</p><p><img src=\"https://static.tigerbbs.com/057e76e95f9c4e71488b21dae973e07a\" tg-width=\"550\" tg-height=\"309\" referrerpolicy=\"no-referrer\"></p><p><b>Chip shortage hits auto industry hard Ford's U.S. auto sales plummet 33% in August</b></p><p><a href=\"https://laohu8.com/S/F\">Ford Motor</a>It said Thursday that vehicle sales in the U.S. plummeted 33.1% last month from a year earlier as the ongoing global chip shortage wreaked havoc on the auto industry.</p><p><a href=\"https://laohu8.com/S/F\">Ford Motor</a>Said the company's total U.S. auto sales in August were 124,176 units, down 33.1% year-over-year, with truck sales down 29.4%, SUV sales down 25.3%, and sedan sales down 86.0%.</p><p>August has historically been one of the higher months of the year for vehicle sales, but a global chip shortage has caused vehicle inventory levels to plummet to record lows and new car and truck prices to soar.</p><p>Sales of almost every model in Ford's lineup declined in the last month compared to last year. Most notably, Ford's best-selling F-Series pickup dropped 22.5% to 57,321 units.</p><p><img src=\"https://static.tigerbbs.com/8e39d28259c87b272af781a347156ae4\" tg-width=\"550\" tg-height=\"366\" referrerpolicy=\"no-referrer\"></p><p><b>Bridgewater hedge fund returns are not satisfactory, a California pension fund considers whether to withdraw its capital</b></p><p>The $21 billion retirement fund in Orange County, California, is considering whether to withdraw funds from Dalio's hedge fund, which has performed poorly for most of the past 16 years.</p><p>According to a memo from superannuation consultant Meketa Investment Group, the Orange County Employees' Retirement Fund (OCERS) has returned 4.5% annualized on its investments in the Bridgewater Pure Alpha Fund since 2005, about 2.5 percentage points below its benchmark level. The strategy has exceeded the Orange County Retirement Fund's goal only once in the past five years and has lagged on both seven-and ten-year terms.</p><p>Molly Murphy, chief investment officer at OCERS, recommended putting Bridgewater Pure Alpha on the retirement fund's watchlist. According to the aforementioned Aug. 25 memo, a group of Meketa's consultants concurred, adding that they would \"evaluate potential replacements where necessary\".</p><p>\"Typically, if an advisory firm recommends putting a fund on one client's watchlist, it is likely to give the same advice to other clients,\" said Brad Alford, head of advisory firm Alpha Capital Management. \"This may cause trouble for Bridgewater.\"</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.sina.com.cn/stock/usstock/c/2021-09-03/doc-iktzqtyt3746933.shtml\">新浪财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/082208e3c37780dd55878056410ffa43","relate_stocks":{"MS":"摩根士丹利",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2021-09-03/doc-iktzqtyt3746933.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2164782990","content_text":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、摩根士丹利预计美国经济增长放缓集中在三季度 大砍GDP预期至2.9%\n\n\n2、沃顿商学院金融教授：美联储的失误或导致美股重大回调\n\n\n3、非农就业或显示德尔塔疫情影响 对美联储减码时间表影响重大\n\n\n4、在全球多地面临反垄断调查后 苹果公司免除媒体类应用30%的佣金费\n\n\n6、芯片短缺重创汽车行业 福特8月美国汽车销量骤降33%\n\n\n6、桥水对冲基金回报不如人意 加州一养老金考虑是否撤资\n\n\n摩根士丹利预计美国经济增长放缓集中在三季度 大砍GDP预期至2.9%\n摩根士丹利的经济学家表示，预计下半年经济增长放缓主要发生在第三季度，很大程度上因为刺激支出回收和持续的供应链问题。\n经济学家Ellen Zentner等人在周四的报告中表示，第三季度GDP增速目前跟踪在2.9%，远远低于之前的6.5%。\n他们写道：“美国经济正在脱离上半年的增速，因刺激支出和经济重开刺激的活动爆发冷却下来。”\n包括汽车在内的耐用品支出减少，正在拖累经济增长，且库存保持低位。8月份看到经济活动普遍下滑，因为通胀上升和德尔塔毒株蔓延拖累消费者信心。\n\n沃顿商学院金融教授：美联储的失误或导致美股重大回调\n沃顿商学院金融教授杰里米-西格尔（Jeremy Siegel）周四表示，他预计未来美国股市回报率将放缓，美联储的政策失误可能会导致美股的“下一次重大回调”。\n西格尔引用了华尔街的一句老话：市场“上楼走楼梯，下楼坐电梯”。\n“我们在上楼梯。我不知道电梯什么时候会来，但从某种意义上说，它看起来像是一种动量交易，市场只是每天都在上升一点点，但并没有真正的消息来推动，而且很多动量玩家都在堆积，”西格尔补充道。“我们以前有过这种情况。很难说这种情况什么时候结束。”\n西格尔表示，他认为股市大幅回调的催化剂是美联储突然改变疫情期间采取的高度宽松政策。\n西格尔数月来一直强调，美联储主席鲍威尔错误的以为通胀压力将是暂时的。西格尔认为，通胀的上升速度将超过美联储的预期。\n\n非农就业或显示德尔塔疫情影响 对美联储减码时间表影响重大\n随着美联储官员们热烈讨论今年晚些时候缩减债券购买，投资者将关注定于周五公布的非农就业报告，以了解美国劳动力市场状况。\n经济学家预测中值显示，8月就业人口可能增加72.5万，比前两个月的增速有所放缓，但强于今年年初的增幅。\n强劲的数据将表明，在持续数月有限的劳动力供应后，企业在招聘方面取得了更多成功。但与德尔塔毒株相关的风险可能意味着非农就业数据弱于预期，并使美联储缩减资产购买的时间表复杂化。\n美国银行经济学家发布报告称，“就业活动的疲软将与其他经济数据相符，这些经济数据自从德尔塔毒株导致新冠病例数激增以来已经走软。”他们预计8月非农就业人口增加60万。\n上述经济学家们表示，“如果我们的就业数据预测成真，这种疲软程度可能足以让美联储希望在减码前看到更多数据。”\n\n在全球多地面临反垄断调查后 苹果公司免除媒体类应用30%的佣金费\n苹果公司将允许Netflix等部分应用程序的开发商从其应用商店链接到外部网站，以供用户进行付款。该公司一般对iPhone上的服务和购买交易收取30%的佣金，进而在全球各地遭到调查，此举是苹果做出的一个让步。\n总部在加州Cupertino的苹果公司表示，这一变化将从明年初起在全球范围内对所谓的阅读器应用程序生效，包括杂志、报纸、书籍、音频、音乐和视频等内容。这一决定将解决日本公正交易委员会的调查。\n迄今为止，苹果一直迫使此类应用使用应用内购买系统，下载内容以及应用内订阅都需向苹果支付最高30%的佣金。该规定仍适用于利润率最高的游戏类应用和应用内购买。\n\n芯片短缺重创汽车行业 福特8月美国汽车销量骤降33%\n福特汽车周四表示，由于全球芯片持续短缺对汽车行业造成了严重破坏，该公司上个月在美国的汽车销量较上年同期骤降33.1%。\n福特汽车表示，该公司8月份美国汽车总销量为124176辆，同比下降33.1%，其中卡车销量下降29.4%，SUV销量下降25.3%，轿车销量下降86.0%。\n8月历来是一年中汽车销量较高的月份之一，但全球芯片短缺导致汽车库存水平暴跌至历史低点，新车和卡车价格飙升。\n与去年相比，福特产品线中几乎所有车型的销量在上个月都出现了下降。最值得注意的是，福特最畅销的F系列皮卡下降了22.5%，至57321辆。\n\n桥水对冲基金回报不如人意 加州一养老金考虑是否撤资\n加州橙县规模210亿美元的退休基金正在考虑是否从达利欧的对冲基金撤回资金，因后者在过去16年的大部分时间里表现不如人意。\n根据退休金顾问Meketa Investment Group的备忘录，自2005年以来，橙县雇员退休基金（OCERS）在桥水Pure Alpha基金的投资年化回报率为4.5%，比其基准水平低约2.5个百分点。该策略在过去五年中仅一次超过了橙县退休基金的目标，并且在七年和十年期限里都表现落后。\nOCERS的首席投资官Molly Murphy建议将桥水Pure Alpha列入该退休基金的观察名单。根据上述8月25日的备忘录，Meketa的一组顾问表示赞同，并补充说，他们将“在必要时评估潜在的替代者”。\n“通常情况下，如果一家顾问公司建议将一家基金列入一个客户的观察名单，那么它也很有可能对其他客户给出同样建议，”顾问公司Alpha Capital Management负责人Brad Alford表示，“这可能给桥水带来麻烦。”","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9,"MS":0.9}},"isVote":1,"tweetType":1,"viewCount":545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9039856368,"gmtCreate":1646007587578,"gmtModify":1676534081130,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575508103712478","authorIdStr":"3575508103712478"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9039856368","repostId":"2214132600","repostType":4,"isVote":1,"tweetType":1,"viewCount":4363,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9006263030,"gmtCreate":1641769169427,"gmtModify":1676533645294,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575508103712478","authorIdStr":"3575508103712478"},"themes":[],"htmlText":"Haha","listText":"Haha","text":"Haha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9006263030","repostId":"2201147402","repostType":4,"isVote":1,"tweetType":1,"viewCount":912,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814829562,"gmtCreate":1630807304056,"gmtModify":1676530397446,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575508103712478","authorIdStr":"3575508103712478"},"themes":[],"htmlText":"Zan","listText":"Zan","text":"Zan","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/814829562","repostId":"1159579630","repostType":4,"repost":{"id":"1159579630","kind":"news","pubTimestamp":1630805949,"share":"https://ttm.financial/m/news/1159579630?lang=en_US&edition=fundamental","pubTime":"2021-09-05 09:39","market":"us","language":"zh","title":"Will the \"non-farm payrolls\" dive scare off the Fed?","url":"https://stock-news.laohu8.com/highlight/detail?id=1159579630","media":"兴业研究","summary":"北京时间9月3日晚，美国劳工部公布8月非农就业数据，8月非农就业人口增加23.5万人，大幅不及市场预期的73.3万人，创2021年1月以来最小增幅。事件：8月非农就业大幅不及预期\n北京时间9月3日晚，","content":"<p>On the evening of September 3, Beijing time, the U.S. Department of Labor released non-farm payrolls data for August. The number of non-farm payrolls increased by 235,000 in August, a sharp miss the market expectation of 733,000, the smallest increase since January 2021.<img src=\"https://static.tigerbbs.com/5f2a5367c8d07ef8dc9b53c315d9058f\" tg-width=\"1080\" tg-height=\"1926\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Event: Non-farm employment in August significantly fell short of expectations</p><p>On the evening of September 3, Beijing time, the U.S. Department of Labor released non-farm payrolls data for August. The number of non-farm payrolls increased by 235,000 in August, a sharp miss the market expectation of 733,000, the smallest increase since January 2021. The unemployment rate of 5.2% was the same as market expectations and slightly lower than the previous value of 5.4%. The average hourly wage rose 4.3% year-on-year, higher than the expected 3.9% and the previous value of 4.1%. The labor participation rate was 61.7%, the same as the previous value and lower than the expected 61.8%. After the data was released, the decline narrowed after the short-term dive in the US Dollar Index. U.S. bond yields first fell and then rose, and London gold once again exceeded $1,820 per ounce.</p><p><img src=\"https://static.tigerbbs.com/60a9254922e805a0b840c4a2053f51d1\" tg-width=\"900\" tg-height=\"485\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>1. Analysis of non-agricultural employment in August</p><p>As the August ADP employment announced earlier on Wednesday has been significantly lower than expected, the market has lowered its expectation for non-farm employment, but the final data is still surprising. Why is the non-farm payrolls data so sluggish in August? From the perspective of industry distribution, since 2021, the leisure and hotel industries have been the absolute main contributors to jobs, followed by professional and business services, education, medical and health services and other service industries. However, the number of new jobs in the leisure and hotel industries in August was 0, and the contribution of other industries was a drop in the bucket.</p><p><img src=\"https://static.tigerbbs.com/81ab82136bb97e0caafb0593409da6c0\" tg-width=\"900\" tg-height=\"293\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Furthermore, why did the number of leisure and hotel employment suddenly fall into zero growth in August? From the demand side, on the one hand, due to the recent resurgence of the epidemic in the United States and the passing of the summer travel peak, the operation of the service industry has been affected, such as visits to retail and entertainment locations and restaurant reservations. On the other hand, it may be because most Americans have no money to spend. At present, the financial aid that has been distributed has been exhausted, and 26 states stopped issuing additional unemployment benefits in June and July, which made the financial situation of the unemployed worse. After retaliatory consumption in the second quarter, both service consumption and commodity consumption weakened significantly in the third quarter, and the hot real estate market also cooled down, which was consistent with the sluggish employment situation in the service and construction industries in August.</p><p><img src=\"https://static.tigerbbs.com/291e17c7fed595614996557f19a908b6\" tg-width=\"900\" tg-height=\"439\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/42085c9f669424576521a38015e76b0a\" tg-width=\"900\" tg-height=\"815\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>2. Strange phenomena in the labor market</p><p>From the supply side of the service industry, the U.S. labor market seems to have fallen into some kind of vicious circle: consumption weakens after losing financial assistance, resulting in a reduction in labor demand (mentioned above); However, high financial assistance has caused more and more people of appropriate age to withdraw from the labor market, and the employment gap persists. At present, the strange phenomenon is that despite the bleak employment performance of the service industry in August, the employment gap of a large number of mid-to low-end service industries is still at a historical high. One possible explanation is that additional unemployment benefits will stop after September 6th, and a large number of people of working age will be forced to return to the labor market. Faced with the recent rapid rise in wages, business owners are reluctant to increase employment, but choose to wait for the labor market to return to balance.</p><p><img src=\"https://static.tigerbbs.com/15a6f458a8f82385f64a0d599cab0db8\" tg-width=\"900\" tg-height=\"451\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2ef1dcf7522b1d034347d54139c60236\" tg-width=\"900\" tg-height=\"820\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/f7e1c5abb32aea0044ac97c63c436d9a\" tg-width=\"900\" tg-height=\"700\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>3. How does the Fed respond</p><p>U.S. Treasury Secretary Yellen does not believe that additional unemployment benefits negotiate employment enthusiasm, and even encourages state and local governments to use the remaining funds (approximately $350 billion) issued to state and local governments by the \"American Rescue Plan\" in the previous fiscal stimulus case to continue to issue supplementary unemployment benefits. At present, about 11 million people are still claiming unemployment benefits. This means that if the full amount of US $350 billion is spent and the relief standard of US $300 per week continues to be maintained, it can continue to be maintained for about half a year. However, it is unclear whether states will respond to Yellen's call. In June and July, 26 states have stopped issuing additional unemployment benefits to push the unemployed to return to the labor market. Therefore, it is reasonable for the Fed to continue to observe whether the non-agricultural data in September and October reflect the improvement of the labor market structure.</p><p>The deterioration of single-month data is accidental and will not immediately shake the Fed's plan to implement Taper within the year. Looking at the overall situation of the labor market, the current recovery momentum is still good, stronger than in 2013. Since the August data did not meet the Taper trigger condition of 800,000 new jobs proposed by many officials, the Federal Reserve is more likely to remain on hold in September, or officially announce it in November and implement Taper in December. The US Dollar Index is facing periodic downward pressure, and the RMB has once again ushered in a window period for foreign exchange purchases. Weakening the US Dollar Index and expectations of Taper extension beyond September support commodity prices and inflation expectations, which is good for gold in the short term. The issuance of medium-and long-term U.S. bonds surged in the fourth quarter, coupled with stable inflation expectations and Taper expectations during the year, the long-term yield of U.S. bonds is expected to continue to rebound.</p><p><img src=\"https://static.tigerbbs.com/2878342f80668fa205e4b71bceb8d3af\" tg-width=\"900\" tg-height=\"802\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>","source":"lsy1588042834664","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Will the \"non-farm payrolls\" dive scare off the Fed?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWill the \"non-farm payrolls\" dive scare off the Fed?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">兴业研究</strong><span class=\"h-time small\">2021-09-05 09:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>On the evening of September 3, Beijing time, the U.S. Department of Labor released non-farm payrolls data for August. The number of non-farm payrolls increased by 235,000 in August, a sharp miss the market expectation of 733,000, the smallest increase since January 2021.<img src=\"https://static.tigerbbs.com/5f2a5367c8d07ef8dc9b53c315d9058f\" tg-width=\"1080\" tg-height=\"1926\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\">Event: Non-farm employment in August significantly fell short of expectations</p><p>On the evening of September 3, Beijing time, the U.S. Department of Labor released non-farm payrolls data for August. The number of non-farm payrolls increased by 235,000 in August, a sharp miss the market expectation of 733,000, the smallest increase since January 2021. The unemployment rate of 5.2% was the same as market expectations and slightly lower than the previous value of 5.4%. The average hourly wage rose 4.3% year-on-year, higher than the expected 3.9% and the previous value of 4.1%. The labor participation rate was 61.7%, the same as the previous value and lower than the expected 61.8%. After the data was released, the decline narrowed after the short-term dive in the US Dollar Index. U.S. bond yields first fell and then rose, and London gold once again exceeded $1,820 per ounce.</p><p><img src=\"https://static.tigerbbs.com/60a9254922e805a0b840c4a2053f51d1\" tg-width=\"900\" tg-height=\"485\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>1. Analysis of non-agricultural employment in August</p><p>As the August ADP employment announced earlier on Wednesday has been significantly lower than expected, the market has lowered its expectation for non-farm employment, but the final data is still surprising. Why is the non-farm payrolls data so sluggish in August? From the perspective of industry distribution, since 2021, the leisure and hotel industries have been the absolute main contributors to jobs, followed by professional and business services, education, medical and health services and other service industries. However, the number of new jobs in the leisure and hotel industries in August was 0, and the contribution of other industries was a drop in the bucket.</p><p><img src=\"https://static.tigerbbs.com/81ab82136bb97e0caafb0593409da6c0\" tg-width=\"900\" tg-height=\"293\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>Furthermore, why did the number of leisure and hotel employment suddenly fall into zero growth in August? From the demand side, on the one hand, due to the recent resurgence of the epidemic in the United States and the passing of the summer travel peak, the operation of the service industry has been affected, such as visits to retail and entertainment locations and restaurant reservations. On the other hand, it may be because most Americans have no money to spend. At present, the financial aid that has been distributed has been exhausted, and 26 states stopped issuing additional unemployment benefits in June and July, which made the financial situation of the unemployed worse. After retaliatory consumption in the second quarter, both service consumption and commodity consumption weakened significantly in the third quarter, and the hot real estate market also cooled down, which was consistent with the sluggish employment situation in the service and construction industries in August.</p><p><img src=\"https://static.tigerbbs.com/291e17c7fed595614996557f19a908b6\" tg-width=\"900\" tg-height=\"439\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/42085c9f669424576521a38015e76b0a\" tg-width=\"900\" tg-height=\"815\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>2. Strange phenomena in the labor market</p><p>From the supply side of the service industry, the U.S. labor market seems to have fallen into some kind of vicious circle: consumption weakens after losing financial assistance, resulting in a reduction in labor demand (mentioned above); However, high financial assistance has caused more and more people of appropriate age to withdraw from the labor market, and the employment gap persists. At present, the strange phenomenon is that despite the bleak employment performance of the service industry in August, the employment gap of a large number of mid-to low-end service industries is still at a historical high. One possible explanation is that additional unemployment benefits will stop after September 6th, and a large number of people of working age will be forced to return to the labor market. Faced with the recent rapid rise in wages, business owners are reluctant to increase employment, but choose to wait for the labor market to return to balance.</p><p><img src=\"https://static.tigerbbs.com/15a6f458a8f82385f64a0d599cab0db8\" tg-width=\"900\" tg-height=\"451\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2ef1dcf7522b1d034347d54139c60236\" tg-width=\"900\" tg-height=\"820\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/f7e1c5abb32aea0044ac97c63c436d9a\" tg-width=\"900\" tg-height=\"700\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p>3. How does the Fed respond</p><p>U.S. Treasury Secretary Yellen does not believe that additional unemployment benefits negotiate employment enthusiasm, and even encourages state and local governments to use the remaining funds (approximately $350 billion) issued to state and local governments by the \"American Rescue Plan\" in the previous fiscal stimulus case to continue to issue supplementary unemployment benefits. At present, about 11 million people are still claiming unemployment benefits. This means that if the full amount of US $350 billion is spent and the relief standard of US $300 per week continues to be maintained, it can continue to be maintained for about half a year. However, it is unclear whether states will respond to Yellen's call. In June and July, 26 states have stopped issuing additional unemployment benefits to push the unemployed to return to the labor market. Therefore, it is reasonable for the Fed to continue to observe whether the non-agricultural data in September and October reflect the improvement of the labor market structure.</p><p>The deterioration of single-month data is accidental and will not immediately shake the Fed's plan to implement Taper within the year. Looking at the overall situation of the labor market, the current recovery momentum is still good, stronger than in 2013. Since the August data did not meet the Taper trigger condition of 800,000 new jobs proposed by many officials, the Federal Reserve is more likely to remain on hold in September, or officially announce it in November and implement Taper in December. The US Dollar Index is facing periodic downward pressure, and the RMB has once again ushered in a window period for foreign exchange purchases. Weakening the US Dollar Index and expectations of Taper extension beyond September support commodity prices and inflation expectations, which is good for gold in the short term. The issuance of medium-and long-term U.S. bonds surged in the fourth quarter, coupled with stable inflation expectations and Taper expectations during the year, the long-term yield of U.S. bonds is expected to continue to rebound.</p><p><img src=\"https://static.tigerbbs.com/2878342f80668fa205e4b71bceb8d3af\" tg-width=\"900\" tg-height=\"802\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.zhitongcaijing.com/content/detail/554426.html\">兴业研究</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f09c44f289c2f0d40610768fe6661fab","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://www.zhitongcaijing.com/content/detail/554426.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159579630","content_text":"北京时间9月3日晚，美国劳工部公布8月非农就业数据，8月非农就业人口增加23.5万人，大幅不及市场预期的73.3万人，创2021年1月以来最小增幅。事件：8月非农就业大幅不及预期\n北京时间9月3日晚，美国劳工部公布8月非农就业数据，8月非农就业人口增加23.5万人，大幅不及市场预期的73.3万人，创2021年1月以来最小增幅。失业率5.2%与市场预期持平，略低于前值5.4%。平均时薪同比上涨4.3%，高于预期的3.9%和前值4.1%。劳动参与率61.7%，与前值持平，低于预期的61.8%。数据公布后美元指数短线跳水后跌幅收窄，美债收益率先跌后涨，伦敦金再度突破1820美元/盎司。\n\n一、8月非农就业剖析\n由于本周三早先公布的8月ADP就业已经显著不及预期，市场已经降低了对于非农就业的期待，但最终数据仍然令人大跌眼镜。为何8月非农就业数据如此低迷?从行业分布看，2021年以来，休闲、酒店行业是贡献就业岗位的绝对主力，其次是专业和商业服务、教育和医疗健康等服务业。然而8月休闲、酒店业新增就业人数为0，其他行业的贡献杯水车薪。\n\n更进一步，为何8月休闲、酒店就业人数突然陷入0增长?从需求端而言，一方面是因为近期美国疫情复燃，加之夏季出行高峰过去，服务业运行受到影响，例如零售和娱乐地点访问、餐厅预订均有所下滑。另一方面可能是因为大多数美国人没有钱消费了。目前已发放的财政援助消耗殆尽，6、7月还有26个州停止发放额外失业救济，这让失业者的财务状况雪上加霜。在第二季度的报复性消费后，第三季度无论是服务消费还是商品消费都显著边际转弱，火爆的房地产市场也有所降温，与8月服务业、建筑业低迷的就业形势吻合。\n\n二、劳动力市场之怪现象\n从服务业供给端而言，美国劳动力市场似乎陷入某种怪圈：失去财政援助后消费走弱，使得劳动力需求减少(前文所述);但高额的财政援助又使得越来越多的适龄人口退出劳动力市场，用工缺口持续存在。目前的奇怪现象是，尽管8月服务业就业表现惨淡，但大量中低端服务业用工缺口仍在历史高位。一个可能的解释是，9月6日后额外失业救济将停发，大量适龄人口将被迫重返劳动力市场。面对近期薪资快速上涨，企业主并不愿意增加雇佣，而是选择等待劳动力市场重回平衡。\n\n三、美联储如何应对\n美国财长耶伦并不认为额外失业救济磋商了就业积极性，甚至鼓励州和地方政府动用此前财政刺激案中的“美国拯救计划(AmericanRescue Plan)”下发给州和地方政府的剩余资金(大约3500亿美元)继续发放补充失业救济。而目前约有1100万人仍在申领失业救济。这意味着如果全额动用3500亿美元且继续维持每周300美元的救济标准，尚可以继续维持约半年时间。不过目前尚不清楚各州是否会响应耶伦的号召，在6、7月已经有26个州停发额外失业救济，以推动失业者重返劳动力市场。因此，美联储有理由继续观察9月、10月的非农数据是否反映出劳动力市场结构的改善。\n单月数据的恶化具有偶然性，不会立刻动摇美联储年内实施Taper的计划。从劳动力市场全局看，目前复苏势头依然良好，比2013年更加强劲。由于8月数据未达到多位官员提出的新增就业80万人的Taper触发条件，美联储在9月继续按兵不动的几率较大，或在11月正式宣布、12月实施Taper。美元指数面临阶段性回落压力，人民币再度迎来购汇窗口期。美元指数走弱、Taper延至9月后的预期支撑商品价格和通胀预期，短线利好黄金。第四季度中长期美债发行量激增，叠加通胀预期持稳和年内Taper预期仍存，美债长端收益率有望延续反弹。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805336437,"gmtCreate":1627860074029,"gmtModify":1703496549486,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575508103712478","authorIdStr":"3575508103712478"},"themes":[],"htmlText":"Zan","listText":"Zan","text":"Zan","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/805336437","repostId":"2156942164","repostType":4,"repost":{"id":"2156942164","kind":"news","pubTimestamp":1627853517,"share":"https://ttm.financial/m/news/2156942164?lang=en_US&edition=fundamental","pubTime":"2021-08-02 05:31","market":"us","language":"zh","title":"Foreign media headlines: The world ushered in the most extensive house price rise in 20 years","url":"https://stock-news.laohu8.com/highlight/detail?id=2156942164","media":"新浪财经","summary":"在美国，4月份房价以近30年来最快的年率上涨。今年以来，标普500指数的涨幅已超过17%。自3月底以来，随着债券价格飙升，10年期美国国债收益率下跌50个基点。","content":"<p><b>The headlines that the global financial media paid attention to last night and this morning mainly include:</b></p><p><b>1. The other side of the epidemic crisis: the world is ushering in the widest house price rise in 20 years</b><b>2. The \"welfare cliff\" is approaching, and 7.5 million people in the United States may lose epidemic relief support in a month</b><b>3. Busy making \"epidemic fortune\"<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>And Moderna raise prices for vaccines supplied to the EU</b><b>4. Business model \"tug-of-war\": Airbus plans to increase aircraft production capacity, but engine manufacturers say no</b><b>5. Corporate financial reports are eye-catching. U.S. bond yields fall. U.S. stocks continue to \"continue to play music and dance\"?</b><b>6、<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>: The 10-year U.S. Treasury Bond yield is expected to rise by 1.60%, which is a reasonable position</b><img src=\"https://static.tigerbbs.com/63a2c1235c8270ff5938cada025b8244\" tg-width=\"550\" tg-height=\"327\" referrerpolicy=\"no-referrer\"></p><p><b>The flip side of the pandemic crisis: The world sees the broadest home price rise in 20 years</b></p><p>House prices have soared in almost every major economy during the pandemic, forming the broadest market rally in more than 20 years and reigniting economists' concerns that financial stability could be threatened.</p><p>In the first quarter of 2021, the annual increase in house prices in wealthy OECD countries reached 9.4%, the fastest growth rate in 30 years. The broad trend continued in the second quarter, the data showed. In the United States, home prices rose at the fastest annual rate in nearly 30 years in April. Countries such as the United Kingdom, South Korea, New Zealand, Canada and Turkey still maintain strong growth.</p><p>Analysts say historically low interest rates, savings built up during pandemic lockdowns, and people's desire for more space to work from home are all driving the trend.</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Economist Aditya Bhave said policymakers around the world are \"now acutely aware of the risks of housing policy\". This \"significantly reduces the likelihood of an adverse outcome\" compared to 2008, he added.</p><p><img src=\"https://static.tigerbbs.com/4ea571cb79a3a18b45c19c2dd3d7c975\" tg-width=\"550\" tg-height=\"349\" referrerpolicy=\"no-referrer\"></p><p><b>The \"welfare cliff\" is approaching, and 7.5 million people in the United States may lose epidemic relief support in a month</b></p><p>The upcoming \"benefits cliff\" appears to be a departure from others that have emerged over the past year, and there doesn't seem to be a sense of urgency among federal lawmakers to extend pandemic benefits programs beyond American Labor Day (the national holiday in the United States that falls on the first Monday in September), their official deadline.</p><p>Andrew Stettner, a senior fellow at the Century Foundation, a progressive think tank, said that \"there's almost no discussion of extending benefits.\"</p><p>The cliff will affect Americans who receive benefits through a handful of temporary programs. They include assistance for long-term unemployed, self-employed, gig workers, freelancers and others who are generally not eligible for state benefits.</p><p>According to the data of the U.S. Department of Labor, as of July 10, more than 9 million people had received this kind of assistance. Stettner estimates that about 7.5 million people will still receive benefits by the time they expire on Sept. 6. At that time they will lose their right to any benefits.</p><p><img src=\"https://static.tigerbbs.com/ffd59467585ee481361c594624d3b791\" tg-width=\"550\" tg-height=\"314\" referrerpolicy=\"no-referrer\"></p><p><b>Busy making \"epidemic fortune\" Pfizer and Moderna raise prices for vaccines supplied to the EU</b></p><p>As Europe grapples with supply disruptions and fears of side effects from competing products, Pfizer has raised the price of its Covid-19 vaccine by more than 25% and Moderna by more than 10% in the latest EU supply contracts.</p><p>The terms of the agreements, which show a total of 2.1 billion vaccines will be delivered by 2023, were agreed this year. Phase III trial data show that their messenger RNA vaccine is better than Oxford/<a href=\"https://laohu8.com/S/AZN\">AstraZeneca</a>And<a href=\"https://laohu8.com/S/JNJ\">Johnson Johnson</a>After the cheaper vaccine developed was more effective, the two sides renegotiated the terms of the agreement.</p><p>According to some contracts, Pfizer's new offer is 19.50 euros, compared with 15.50 euros previously.</p><p>The EU signed these contracts at a complicated time for the EU vaccine rollout. The European Union faces supply issues from AstraZeneca and Johnson & Johnson as health authorities investigate suspicious links between the two companies' vaccines and rare blood clots.</p><p><img src=\"https://static.tigerbbs.com/927e41e924e5790a1f970687552987f3\" tg-width=\"550\" tg-height=\"361\" referrerpolicy=\"no-referrer\"></p><p><b>Business model \"tug-of-war\": Airbus plans to increase aircraft production capacity but engine manufacturers say no</b></p><p>Airbus hopes to nearly double aircraft production in the next few years as travel demand in key markets in the United States and China picks up rapidly. The company's new aircraft orders are rising, while its U.S. rivals<a href=\"https://laohu8.com/S/BA\">boeing</a>Has also been in trouble lately.</p><p>In May of this year, Airbus released a set of clear goals and scenarios to increase narrow-body aircraft production from the current 40 per month to 75 per month by 2025, compared with 60 per month before the COVID-19 pandemic outbreak.</p><p>This upsets engine makers and others, who fear that the world's largest aircraft maker will put a flood of new aircraft on the market too quickly, forcing existing aircraft to retire directly instead of going into their repair shops, which will disrupt their profit plans.</p><p>Aircraft manufacturers get paid when new aircraft are delivered, which allows them to absorb fixed costs fairly quickly, while engine manufacturers rely on repairs on older aircraft and have to wait years to recoup their costs.</p><p><img src=\"https://static.tigerbbs.com/88767601703ce67c50da87214e232a6c\" tg-width=\"550\" tg-height=\"347\" referrerpolicy=\"no-referrer\"></p><p><b>Corporate financial reports are eye-catching, U.S. bond yields fall, and U.S. stocks continue to \"play music and dance\"?</b></p><p>The rebound in corporate profits and the recent decline in U.S. Treasury Bond yields are helping to ease U.S. stock market valuations. This provides a reason to hold stocks at a time when the market is near record levels and economic growth is expected to slow.</p><p>The S&P 500 has risen more than 17% so far this year. But at the same time, stock valuations have edged lower since the start of the year. P/E for the S&P 500 is 21.4 times expected earnings over the next 12 months, according to Refinitiv Datastream. That's still well above the historical average of 15.4, but below January's level of 22.7.</p><p>Meanwhile, a rebound in the U.S. Treasury Bond market has also helped improve the attractiveness of stocks as investments. The 10-year U.S. Treasury Bond yield has fallen 50 basis points since the end of March as bond prices have soared.</p><p>\"I think the stock market is still a good buy,\" said Peter Tuz, president of Chase Investment Advisors in Charlottesville, Virginia. \"Despite the high valuations, the fundamentals are good, most companies have good quarterly results and pretty good outlooks.\"</p><p><img src=\"https://static.tigerbbs.com/3339b10646cdfa3a56a0b66ef5fd5ad4\" tg-width=\"505\" tg-height=\"350\" referrerpolicy=\"no-referrer\"></p><p><b>Morgan Stanley: The 10-year U.S. Treasury Bond yield is expected to rise by 1.60%, which is a reasonable position</b></p><p>Guneet Dhingr, head of U.S. interest rate strategy at Morgan Stanley, wrote: Citius, Altius, Fortius-the Olympic motto, translated as faster, higher, stronger, can also be used as our current U.S. Treasury Bond yield motto. We believe the U.S. Treasury Bond market will absorb a faster pace of rate hike, consistent with a stronger economy.</p><p>We believe that the 10-year Treasury Bond yield is below our reasonable valuation of ~ 1.60%, largely due to position unwinding in recent weeks amplifying the negative pandemic news.</p><p>We believe it is important to avoid falling into the trap of forcing down yields, a trap that investors experienced only 4 months ago: U.S. Treasury Bond yields rose sharply in March, mainly due to Japanese investors selling Treasury Bond based on fiscal year-end considerations. However, most investors mistakenly see rising yields as proof of an overheated economy, with the consensus that the 10-year Treasury Bond yield will break 2%.</p><p>Despite the lessons of March fresh in my mind, July 2021 looks like the opposite March. This time, investors are using overly pessimistic narratives to lower yields. Many of these narratives don't stand up to scrutiny.</p>","source":"sina_symbol","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Foreign media headlines: The world ushered in the most extensive house price rise in 20 years</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nForeign media headlines: The world ushered in the most extensive house price rise in 20 years\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经</strong><span class=\"h-time small\">2021-08-02 05:31</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>The headlines that the global financial media paid attention to last night and this morning mainly include:</b></p><p><b>1. The other side of the epidemic crisis: the world is ushering in the widest house price rise in 20 years</b><b>2. The \"welfare cliff\" is approaching, and 7.5 million people in the United States may lose epidemic relief support in a month</b><b>3. Busy making \"epidemic fortune\"<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>And Moderna raise prices for vaccines supplied to the EU</b><b>4. Business model \"tug-of-war\": Airbus plans to increase aircraft production capacity, but engine manufacturers say no</b><b>5. Corporate financial reports are eye-catching. U.S. bond yields fall. U.S. stocks continue to \"continue to play music and dance\"?</b><b>6、<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>: The 10-year U.S. Treasury Bond yield is expected to rise by 1.60%, which is a reasonable position</b><img src=\"https://static.tigerbbs.com/63a2c1235c8270ff5938cada025b8244\" tg-width=\"550\" tg-height=\"327\" referrerpolicy=\"no-referrer\"></p><p><b>The flip side of the pandemic crisis: The world sees the broadest home price rise in 20 years</b></p><p>House prices have soared in almost every major economy during the pandemic, forming the broadest market rally in more than 20 years and reigniting economists' concerns that financial stability could be threatened.</p><p>In the first quarter of 2021, the annual increase in house prices in wealthy OECD countries reached 9.4%, the fastest growth rate in 30 years. The broad trend continued in the second quarter, the data showed. In the United States, home prices rose at the fastest annual rate in nearly 30 years in April. Countries such as the United Kingdom, South Korea, New Zealand, Canada and Turkey still maintain strong growth.</p><p>Analysts say historically low interest rates, savings built up during pandemic lockdowns, and people's desire for more space to work from home are all driving the trend.</p><p><a href=\"https://laohu8.com/S/BAC\">Bank of America</a>Economist Aditya Bhave said policymakers around the world are \"now acutely aware of the risks of housing policy\". This \"significantly reduces the likelihood of an adverse outcome\" compared to 2008, he added.</p><p><img src=\"https://static.tigerbbs.com/4ea571cb79a3a18b45c19c2dd3d7c975\" tg-width=\"550\" tg-height=\"349\" referrerpolicy=\"no-referrer\"></p><p><b>The \"welfare cliff\" is approaching, and 7.5 million people in the United States may lose epidemic relief support in a month</b></p><p>The upcoming \"benefits cliff\" appears to be a departure from others that have emerged over the past year, and there doesn't seem to be a sense of urgency among federal lawmakers to extend pandemic benefits programs beyond American Labor Day (the national holiday in the United States that falls on the first Monday in September), their official deadline.</p><p>Andrew Stettner, a senior fellow at the Century Foundation, a progressive think tank, said that \"there's almost no discussion of extending benefits.\"</p><p>The cliff will affect Americans who receive benefits through a handful of temporary programs. They include assistance for long-term unemployed, self-employed, gig workers, freelancers and others who are generally not eligible for state benefits.</p><p>According to the data of the U.S. Department of Labor, as of July 10, more than 9 million people had received this kind of assistance. Stettner estimates that about 7.5 million people will still receive benefits by the time they expire on Sept. 6. At that time they will lose their right to any benefits.</p><p><img src=\"https://static.tigerbbs.com/ffd59467585ee481361c594624d3b791\" tg-width=\"550\" tg-height=\"314\" referrerpolicy=\"no-referrer\"></p><p><b>Busy making \"epidemic fortune\" Pfizer and Moderna raise prices for vaccines supplied to the EU</b></p><p>As Europe grapples with supply disruptions and fears of side effects from competing products, Pfizer has raised the price of its Covid-19 vaccine by more than 25% and Moderna by more than 10% in the latest EU supply contracts.</p><p>The terms of the agreements, which show a total of 2.1 billion vaccines will be delivered by 2023, were agreed this year. Phase III trial data show that their messenger RNA vaccine is better than Oxford/<a href=\"https://laohu8.com/S/AZN\">AstraZeneca</a>And<a href=\"https://laohu8.com/S/JNJ\">Johnson Johnson</a>After the cheaper vaccine developed was more effective, the two sides renegotiated the terms of the agreement.</p><p>According to some contracts, Pfizer's new offer is 19.50 euros, compared with 15.50 euros previously.</p><p>The EU signed these contracts at a complicated time for the EU vaccine rollout. The European Union faces supply issues from AstraZeneca and Johnson & Johnson as health authorities investigate suspicious links between the two companies' vaccines and rare blood clots.</p><p><img src=\"https://static.tigerbbs.com/927e41e924e5790a1f970687552987f3\" tg-width=\"550\" tg-height=\"361\" referrerpolicy=\"no-referrer\"></p><p><b>Business model \"tug-of-war\": Airbus plans to increase aircraft production capacity but engine manufacturers say no</b></p><p>Airbus hopes to nearly double aircraft production in the next few years as travel demand in key markets in the United States and China picks up rapidly. The company's new aircraft orders are rising, while its U.S. rivals<a href=\"https://laohu8.com/S/BA\">boeing</a>Has also been in trouble lately.</p><p>In May of this year, Airbus released a set of clear goals and scenarios to increase narrow-body aircraft production from the current 40 per month to 75 per month by 2025, compared with 60 per month before the COVID-19 pandemic outbreak.</p><p>This upsets engine makers and others, who fear that the world's largest aircraft maker will put a flood of new aircraft on the market too quickly, forcing existing aircraft to retire directly instead of going into their repair shops, which will disrupt their profit plans.</p><p>Aircraft manufacturers get paid when new aircraft are delivered, which allows them to absorb fixed costs fairly quickly, while engine manufacturers rely on repairs on older aircraft and have to wait years to recoup their costs.</p><p><img src=\"https://static.tigerbbs.com/88767601703ce67c50da87214e232a6c\" tg-width=\"550\" tg-height=\"347\" referrerpolicy=\"no-referrer\"></p><p><b>Corporate financial reports are eye-catching, U.S. bond yields fall, and U.S. stocks continue to \"play music and dance\"?</b></p><p>The rebound in corporate profits and the recent decline in U.S. Treasury Bond yields are helping to ease U.S. stock market valuations. This provides a reason to hold stocks at a time when the market is near record levels and economic growth is expected to slow.</p><p>The S&P 500 has risen more than 17% so far this year. But at the same time, stock valuations have edged lower since the start of the year. P/E for the S&P 500 is 21.4 times expected earnings over the next 12 months, according to Refinitiv Datastream. That's still well above the historical average of 15.4, but below January's level of 22.7.</p><p>Meanwhile, a rebound in the U.S. Treasury Bond market has also helped improve the attractiveness of stocks as investments. The 10-year U.S. Treasury Bond yield has fallen 50 basis points since the end of March as bond prices have soared.</p><p>\"I think the stock market is still a good buy,\" said Peter Tuz, president of Chase Investment Advisors in Charlottesville, Virginia. \"Despite the high valuations, the fundamentals are good, most companies have good quarterly results and pretty good outlooks.\"</p><p><img src=\"https://static.tigerbbs.com/3339b10646cdfa3a56a0b66ef5fd5ad4\" tg-width=\"505\" tg-height=\"350\" referrerpolicy=\"no-referrer\"></p><p><b>Morgan Stanley: The 10-year U.S. Treasury Bond yield is expected to rise by 1.60%, which is a reasonable position</b></p><p>Guneet Dhingr, head of U.S. interest rate strategy at Morgan Stanley, wrote: Citius, Altius, Fortius-the Olympic motto, translated as faster, higher, stronger, can also be used as our current U.S. Treasury Bond yield motto. We believe the U.S. Treasury Bond market will absorb a faster pace of rate hike, consistent with a stronger economy.</p><p>We believe that the 10-year Treasury Bond yield is below our reasonable valuation of ~ 1.60%, largely due to position unwinding in recent weeks amplifying the negative pandemic news.</p><p>We believe it is important to avoid falling into the trap of forcing down yields, a trap that investors experienced only 4 months ago: U.S. Treasury Bond yields rose sharply in March, mainly due to Japanese investors selling Treasury Bond based on fiscal year-end considerations. However, most investors mistakenly see rising yields as proof of an overheated economy, with the consensus that the 10-year Treasury Bond yield will break 2%.</p><p>Despite the lessons of March fresh in my mind, July 2021 looks like the opposite March. This time, investors are using overly pessimistic narratives to lower yields. Many of these narratives don't stand up to scrutiny.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/usstock/c/2021-08-02/doc-ikqciyzk8940967.shtml\">新浪财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/63a2c1235c8270ff5938cada025b8244","relate_stocks":{"TLT":"20+年以上美国国债ETF-iShares","SHY":"债券指数ETF-iShares Barclays 1-3年国债","GOVT":"iShares安硕核心美国国债ETF","IEF":"债券指数ETF-iShares Barclays 7-10年","IEI":"iShares Barclays 3-7 Year Trea","BND":"债券指数ETF-Vanguard美国"},"source_url":"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/usstock/c/2021-08-02/doc-ikqciyzk8940967.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2156942164","content_text":"全球财经媒体昨夜今晨共同关注的头条新闻主要有：\n\n1、疫情危机的另一面：全球迎来20年来最广泛的房价上涨\n\n\n2、“福利悬崖”将至 美国一个月后750万人或失去疫情救济支持\n\n\n3、忙着发“疫情财” 辉瑞和Moderna对供应欧盟的疫苗涨价\n\n\n4、商业模式“拉锯战”：空客计划提高飞机产能 发动机制造商却说不\n\n\n5、企业财报亮眼 美债收益率下滑 美股继续“接着奏乐接着舞”？\n\n\n6、摩根士丹利：10年期美国国债收益率料将上升 1.60%才是合理位置\n\n\n疫情危机的另一面：全球迎来20年来最广泛的房价上涨\n在疫情期间，几乎每个主要经济体的房价都在飙升，这形成了20多年来最广泛的市场反弹，并重新引发了经济学家对金融稳定可能受到威胁的担忧。\n2021年第一季度，经合组织（OECD）富裕国家的房价年涨幅达到9.4%，为30年来最快增速。数据显示，这种广泛的趋势在第二季度继续。在美国，4月份房价以近30年来最快的年率上涨。英国、韩国、新西兰、加拿大和土耳其等国仍保持强劲增长。\n分析人士表示，历史低位的利率、疫情封锁期间积累的储蓄，以及人们在家办公对更多空间的渴望，都推动了这一趋势。\n美国银行经济学家Aditya Bhave表示，世界各地的政策制定者“现在敏锐地意识到了住房政策的风险”。他补充称，与2008年相比，这“显著降低了出现不利结果的可能性”。\n\n“福利悬崖”将至 美国一个月后750万人或失去疫情救济支持\n即将到来的“福利悬崖（benefits cliff）”似乎与过去一年出现的其他悬崖有所不同，在联邦议员中，似乎没有一种将疫情福利计划延长到美国劳工节（美国全国性节日，为9月的第一个星期一）之后的紧迫感，劳工节是他们的官方截止日期。\n进步智库世纪基金会（the Century Foundation）的高级研究员Andrew Stettner说，“几乎没有人讨论延长福利。”\n这一悬崖将影响到那些通过少数临时项目获得福利的美国人。它们包括对长期失业人员、自营职业者、零工、自由职业者和其他一般没有资格享受国家福利的人的援助。\n据美国劳工部的数据，截至7月10日，有900多万人接受了这类援助。Stettner估计，到9月6日救济金到期时，仍有约750万人将领取救济金。那时他们将失去享受任何福利的权利。\n\n忙着发“疫情财” 辉瑞和Moderna对供应欧盟的疫苗涨价\n欧洲正在应对供应中断和对竞争产品副作用的担忧之际，在最新的欧盟供应合同中，辉瑞将其Covid-19疫苗的价格提高了逾25%，Moderna的价格提高了逾10%。\n这些协议的条款是在今年达成的，协议显示将在2023年之前总共提供21亿支疫苗。三期试验数据显示，它们的信使核糖核酸疫苗比牛津/阿斯利康和强生开发的更便宜的疫苗效力更高之后，双方重新谈判了协议条款。\n根据部分合同显示，辉瑞的新报价为19.50欧元，而此前为15.50欧元。\n在欧盟疫苗推出的复杂时刻，欧盟签订了这些合同。由于卫生当局调查阿斯利康和强生的疫苗与罕见血凝块之间的可疑联系，欧盟面临着来自这两家公司的供应问题。\n\n商业模式“拉锯战”：空客计划提高飞机产能 发动机制造商却说不\n随着美国和中国主要市场的旅游需求迅速回升，空客希望在未来几年内将飞机产量提高近一倍。该公司的新飞机订单不断增加，而其美国竞争对手波音最近也陷入困境。\n今年5月，空客发布了一系列明确的目标和设想，到2025年将窄体飞机产量从目前的每月40架提高到每月75架，而在新冠疫情爆发前产量为每月60架。\n这让发动机制造商和其他一些人感到不安，他们担心这家全球最大的飞机制造商会过快地向市场投放大量新飞机，迫使现有飞机直接退役，而不是进他们的维修店，这会扰乱他们的盈利计划。\n飞机制造商在新飞机交付时获得报酬，这让他们能够相当快地消化固定成本，而发动机制造商依赖于老飞机的维修，不得不等待数年才能收回成本。\n\n企业财报亮眼 美债收益率下滑 美股继续“接着奏乐接着舞”？\n企业获利反弹以及近期美国国债收益率下滑，正帮助缓和美国股市估值。在市场接近纪录水平、经济增长预计将放缓之际，这为持有股票提供了理由。\n今年以来，标普500指数的涨幅已超过17%。但与此同时，股票估值自年初以来已小幅走低。根据Refinitiv Datastream的数据，标普500指数的市盈率是未来12个月预期收益的21.4倍。这仍远高于历史平均水平15.4，但低于1月份22.7的水平。\n与此同时，美国国债市场的反弹也帮助提高了股票作为投资的吸引力。自3月底以来，随着债券价格飙升，10年期美国国债收益率下跌50个基点。\n弗吉尼亚州夏洛茨维尔大通投资顾问公司总裁Peter Tuz表示：“我认为股市仍是不错的选择。”“尽管估值很高，但基本面良好，大多数公司的季度业绩都很好，前景也相当不错。”\n\n摩根士丹利：10年期美国国债收益率料将上升 1.60%才是合理位置\n摩根士丹利美国利率策略主管Guneet Dhingr撰文写到：Citius，Altius，Fortius——奥林匹克格言，翻译过来就是更快、更高、更强，也可以作为我们目前的美国国债收益率格言。我们认为，美国国债市场将消化更快的加息步伐，这与经济走强相一致。\n我们认为，10年期国债收益率低于我们约1.60%的合理估值，这在很大程度上是由于近几周头寸平仓放大了疫情负面新闻的影响。\n我们认为，重要的是要避免陷入强行压低收益率的陷阱，这是投资者仅在4个月前才经历过的陷阱：3月份美国国债收益率大幅上升，主要是由于日本投资者基于财年年底的考虑抛售国债。然而，大多数投资者错误地将收益率上升视为经济过热的证明，一致认为10年期国债收益率将突破2%。\n尽管3月的教训历历在目，但2021年7月看起来就像相反的3月。这一次，投资者正用过度悲观的说法来降低收益率。这些叙述中有许多经不起推敲。","news_type":1,"symbols_score_info":{"IEI":0.9,"UBmain":0.9,"ZFmain":0.9,"TNmain":0.9,"SHY":0.9,"TLT":0.9,"GOVT":0.9,"ZBmain":0.9,"BND":0.9,"ZTmain":0.9,"IEF":0.9,"ZNmain":0.9}},"isVote":1,"tweetType":1,"viewCount":535,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107095501,"gmtCreate":1620432145403,"gmtModify":1704343534322,"author":{"id":"3575508103712478","authorId":"3575508103712478","name":"SP2021","avatar":"https://static.tigerbbs.com/bb4b05cedc2864e9c2d8796bb319f4bb","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575508103712478","authorIdStr":"3575508103712478"},"themes":[],"htmlText":"Agree","listText":"Agree","text":"Agree","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/107095501","repostId":"2133157839","repostType":4,"isVote":1,"tweetType":1,"viewCount":493,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}