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ZuZhou
ZuZhou
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2024-08-03
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ZuZhou
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2024-08-03
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@大鱼海棠_4922:
$納指三倍做多ETF(TQQQ)$ 這貨要跌倒什麼時候?
$納指三倍做多ETF(TQQQ)$ 這貨要跌倒什麼時候?
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ZuZhou
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2023-03-11
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U.S. regulators go to Silicon Valley Bank to assess its financials
美国监管机构派出大量人员突击视察硅谷银行,以评估其资产状况。3月11日,据知情人士透露,美国监管机构已抵达SVB金融集团(SVB Financial Group)加州办公室,目前这家陷入困境的银行正竭
U.S. regulators go to Silicon Valley Bank to assess its financials
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ZuZhou
ZuZhou
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2023-03-04
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Where did the trillions of liquidity come from that sent global stock markets up this year?
在全球范围内,流动性实际上在最近几个月有所增加。
Where did the trillions of liquidity come from that sent global stock markets up this year?
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ZuZhou
ZuZhou
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2023-02-27
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Sorry, this post has been deleted
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ZuZhou
ZuZhou
·
2023-01-16
h
@0DTE Trading Academy:
0-DTE What Do We Trade and Why?
0-DTE What Do We Trade and Why?
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ZuZhou
ZuZhou
·
2023-01-12
b
@首席消费官:
飛豬發佈春節出遊風向標:預訂量增長超6成、平均客單價提升超7成飛豬發佈的《2023年春節出遊風向標》顯示,截至目前,2023年春節出遊預訂量同比去年增長超6成。中長線遊需求持續恢復,跨省遊訂單佔比已超8成,出境遊預訂量創下近3年峯值。春節期間相關旅遊商品平均客單價同比提升超7成。(財聯社)
飛豬發佈春節出遊風向標:預訂量增長超6成、平均客單價提升超7成飛豬發佈的《2023年春節出遊風向標》顯示,截至目前,2023年春節出遊預訂量同比去年增長超6成。中長線遊需求持續恢復,跨省遊訂單佔比已超8成,出境遊預訂量創下近3年峯值。春節期間相關旅遊商品平均客單價同比提升超7成。(財聯社)
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ZuZhou
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2023-01-12
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ZuZhou
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2023-01-11
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2023-01-11
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Silicon Valley Bank has played a key role in Silicon Valley start-ups for years. The arrival of regulators does not mean that officials will take further action or that the bank will not be able to cope with the situation alone.</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. regulators go to Silicon Valley Bank to assess its financials</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\">\nU.S. regulators go to Silicon Valley Bank to assess its financials\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\">2023-03-11 00:18</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>U.S. regulators have raided Silicon Valley Bank in large numbers to assess the condition of its assets.</b>On March 11, U.S. regulators arrived at the California office of SVB Financial Group as the struggling bank struggles to stabilize its finances, according to people familiar with the matter.</p><p>Regulators at the Federal Deposit Insurance Corp. and the Federal Reserve are investigating the impact of large withdrawals on the bank.</p><p>Officials at those offices sought to learn more about the bank's woes, people familiar with the matter said. Silicon Valley Bank has played a key role in Silicon Valley start-ups for years. The arrival of regulators does not mean that officials will take further action or that the bank will not be able to cope with the situation alone.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a4ac7a6ebd455cb354600f2c4dcef71e","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128814797","content_text":"美国监管机构派出大量人员突击视察硅谷银行,以评估其资产状况。3月11日,据知情人士透露,美国监管机构已抵达SVB金融集团(SVB Financial Group)加州办公室,目前这家陷入困境的银行正竭力稳定其财务状况。美国联邦存款保险公司(Federal Deposit Insurance Corp.)和美联储(Federal Reserve)的监管机构正在该行调查大额提款对该行所带来的影响。知情人士称,这些办公室的官员寻求对该银行的困境有更多了解。硅谷银行多年来一直在硅谷初创企业中扮演着关键角色。监管机构的到来并不意味着官员们将采取进一步行动,也不意味着该银行将无法独自应对这种情况。","news_type":1,"symbols_score_info":{"SIVB":0.9}},"isVote":1,"tweetType":1,"viewCount":4141,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9940295069,"gmtCreate":1677920948551,"gmtModify":1677920952276,"author":{"id":"4091249058205370","authorId":"4091249058205370","name":"ZuZhou","avatar":"https://static.tigerbbs.com/a7c7301cb7e6f6dd4c0dd101a837bab3","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4091249058205370","authorIdStr":"4091249058205370"},"themes":[],"htmlText":"H","listText":"H","text":"H","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940295069","repostId":"2316732529","repostType":4,"repost":{"id":"2316732529","kind":"highlight","weMediaInfo":{"introduction":"中国最具影响力的财经新闻媒体《财经》携手道琼斯媒体集团,引入百年历史的《巴伦》(Barron's)独家内容,打造涵盖全球金融信息、市场动态、行业分析、公司研究及理财顾问评估的全球投资平台。","home_visible":1,"media_name":"Barrons巴伦","id":"1063202233","head_image":"https://static.tigerbbs.com/dd0fd02e1b0644cdbe57505e702dacab"},"pubTimestamp":1677919837,"share":"https://ttm.financial/m/news/2316732529?lang=en_US&edition=fundamental","pubTime":"2023-03-04 16:50","market":"fut","language":"zh","title":"Where did the trillions of liquidity come from that sent global stock markets up this year?","url":"https://stock-news.laohu8.com/highlight/detail?id=2316732529","media":"Barrons巴伦","summary":"在全球范围内,流动性实际上在最近几个月有所增加。","content":"<p><html><head></head><body>Globally, liquidity has actually increased in recent months.</p><p>The recent rally in global stock markets has left many Wall Street investors somewhat baffled, as stocks — particularly risky growth stocks that make little profit — have weathered the pull of more attractive bond yields, and the threat of rate hike, to rebound strongly from last year's sharp sell-off.</p><p>But some Wall Street analysts said they found an explanation that had nothing to do with inflation and the state of the global economy.</p><p>And the answer is:<b>While the Federal Reserve, the European Central Bank and the Bank of England have declared that they are trying to drain the flood of liquidity in the banking system, globally, liquidity has actually increased in recent months.</b>This is partly due to factors beyond the control of policymakers.</p><p><img src=\"https://static.tigerbbs.com/3e13af78ee0eaa0c77a2504ff630537f\" tg-width=\"820\" tg-height=\"506\" referrerpolicy=\"no-referrer\"/></p><p><b>Trillion-dollar-level asset prices rise</b></p><p>In a research note shared with clients last month, Matt King, global markets strategist at Citigroup, detailed how the world's major central banks have recently pumped $1 trillion into the global financial system.</p><p>Much of this increase came from the People's Bank of China, which bucked the global monetary tightening trend and chose to inject liquidity directly into its banking system, accounting for the majority of the $1 trillion figure, according to King's analysis.</p><p>\"Even though central banks have told us that they will tighten monetary policy, it turns out that on a global level, they have just added $1 trillion worth of liquidity in the last three months,\" King said.</p><p>In his report, King said he was inspired to take a closer look at the central bank's balance sheet by concluding that changes in fundamentals (i.e. changes in economic growth and inflation prospects) could not explain the volatility of global markets, including the rebound in global equity markets.</p><p>When he finally contrasted global stock market movements with changing trends in global central bank liquidity, he found that it was an almost perfect fit.</p><p>The image below tracks<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>The performance of the Capital International Global Index 990100, which reflects the ups and downs of liquidity in the banking system. The index has gained 12% since the end of September, according to FactSet. Around the same time, global central bank liquidity stopped declining and began to expand again.</p><p><img src=\"https://static.tigerbbs.com/60b843c8ea2e4ae086e1e0ae27d671d5\" tg-width=\"1080\" tg-height=\"858\" referrerpolicy=\"no-referrer\"/></p><p>But even the Fed is exacerbating the liquidity flood in a more reactive way, said King and Michael Howell, another London-based strategist and managing director of macro consultancy CrossBorder Capital.</p><p>For more than a year, the Federal Reserve has been touting its plan to \"tighten\" liquidity in the U.S. financial system by raising interest rates and reducing bond holdings by choosing not to reinvest the proceeds from maturing bonds.</p><p>Although the Fed's bond holdings have shrunk by about $500 billion since last spring, another important component of its balance sheet — U.S. banking system reserves — appears to have not grown, according to the St. Louis Federal Reserve Bank.</p><p>The reserve balance of banks at the Federal Reserve stood at $3.01 trillion as of Feb. 22, according to the latest data released weekly by the Federal Reserve, which is up slightly from $2.9 trillion at the end of September.</p><p>Howell said: \"The Fed is allegedly stripping off its balance sheet, but bank reserves are not falling\".</p><p>It could also help support stock prices, he said, as the amount of money the U.S. banking sector is pumping into the financial system has expanded, rather than contracted.</p><p><b>Stocks are starting to fall back</b></p><p>To be sure, U.S. stocks have pulled back in recent weeks, with the Nasdaq Composite gaining 0.73% in January, making its best start in 20 years, according to FactSet.</p><p>Stocks stopped climbing and could be a sign that global liquidity is falling back again. It remains to be seen whether the Fed will make another move to bail out the markets.</p><p>But ultimately, it's possible that stock valuations will suffer as a result. Howell and his team argue that the Fed may need to raise interest rates more aggressively to make up for its reluctance to further cut the banking system's reserves.</p><p>U.S. stocks also seem to be starting to feel the effects of rising bond yields after a few weeks of rebound. The Nasdaq Composite, S&P 500 and Dow Jones Industrial Average all retreated in February. They were mixed on Thursday as 10-year U.S. Treasury Bond yields topped 4%, with bond yields moving in the opposite direction of equity prices.</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>Where did the trillions of liquidity come from that sent global stock markets up 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\">\nWhere did the trillions of liquidity come from that sent global stock markets up this year?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1063202233\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/dd0fd02e1b0644cdbe57505e702dacab);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Barrons巴伦 </p>\n<p class=\"h-time smaller\">2023-03-04 16:50</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Globally, liquidity has actually increased in recent months.</p><p>The recent rally in global stock markets has left many Wall Street investors somewhat baffled, as stocks — particularly risky growth stocks that make little profit — have weathered the pull of more attractive bond yields, and the threat of rate hike, to rebound strongly from last year's sharp sell-off.</p><p>But some Wall Street analysts said they found an explanation that had nothing to do with inflation and the state of the global economy.</p><p>And the answer is:<b>While the Federal Reserve, the European Central Bank and the Bank of England have declared that they are trying to drain the flood of liquidity in the banking system, globally, liquidity has actually increased in recent months.</b>This is partly due to factors beyond the control of policymakers.</p><p><img src=\"https://static.tigerbbs.com/3e13af78ee0eaa0c77a2504ff630537f\" tg-width=\"820\" tg-height=\"506\" referrerpolicy=\"no-referrer\"/></p><p><b>Trillion-dollar-level asset prices rise</b></p><p>In a research note shared with clients last month, Matt King, global markets strategist at Citigroup, detailed how the world's major central banks have recently pumped $1 trillion into the global financial system.</p><p>Much of this increase came from the People's Bank of China, which bucked the global monetary tightening trend and chose to inject liquidity directly into its banking system, accounting for the majority of the $1 trillion figure, according to King's analysis.</p><p>\"Even though central banks have told us that they will tighten monetary policy, it turns out that on a global level, they have just added $1 trillion worth of liquidity in the last three months,\" King said.</p><p>In his report, King said he was inspired to take a closer look at the central bank's balance sheet by concluding that changes in fundamentals (i.e. changes in economic growth and inflation prospects) could not explain the volatility of global markets, including the rebound in global equity markets.</p><p>When he finally contrasted global stock market movements with changing trends in global central bank liquidity, he found that it was an almost perfect fit.</p><p>The image below tracks<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>The performance of the Capital International Global Index 990100, which reflects the ups and downs of liquidity in the banking system. The index has gained 12% since the end of September, according to FactSet. Around the same time, global central bank liquidity stopped declining and began to expand again.</p><p><img src=\"https://static.tigerbbs.com/60b843c8ea2e4ae086e1e0ae27d671d5\" tg-width=\"1080\" tg-height=\"858\" referrerpolicy=\"no-referrer\"/></p><p>But even the Fed is exacerbating the liquidity flood in a more reactive way, said King and Michael Howell, another London-based strategist and managing director of macro consultancy CrossBorder Capital.</p><p>For more than a year, the Federal Reserve has been touting its plan to \"tighten\" liquidity in the U.S. financial system by raising interest rates and reducing bond holdings by choosing not to reinvest the proceeds from maturing bonds.</p><p>Although the Fed's bond holdings have shrunk by about $500 billion since last spring, another important component of its balance sheet — U.S. banking system reserves — appears to have not grown, according to the St. Louis Federal Reserve Bank.</p><p>The reserve balance of banks at the Federal Reserve stood at $3.01 trillion as of Feb. 22, according to the latest data released weekly by the Federal Reserve, which is up slightly from $2.9 trillion at the end of September.</p><p>Howell said: \"The Fed is allegedly stripping off its balance sheet, but bank reserves are not falling\".</p><p>It could also help support stock prices, he said, as the amount of money the U.S. banking sector is pumping into the financial system has expanded, rather than contracted.</p><p><b>Stocks are starting to fall back</b></p><p>To be sure, U.S. stocks have pulled back in recent weeks, with the Nasdaq Composite gaining 0.73% in January, making its best start in 20 years, according to FactSet.</p><p>Stocks stopped climbing and could be a sign that global liquidity is falling back again. It remains to be seen whether the Fed will make another move to bail out the markets.</p><p>But ultimately, it's possible that stock valuations will suffer as a result. Howell and his team argue that the Fed may need to raise interest rates more aggressively to make up for its reluctance to further cut the banking system's reserves.</p><p>U.S. stocks also seem to be starting to feel the effects of rising bond yields after a few weeks of rebound. The Nasdaq Composite, S&P 500 and Dow Jones Industrial Average all retreated in February. They were mixed on Thursday as 10-year U.S. Treasury Bond yields topped 4%, with bond yields moving in the opposite direction of equity prices.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5eb1600a275cdb440167b676a1a207e1","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2316732529","content_text":"在全球范围内,流动性实际上在最近几个月有所增加。全球股市近期的上涨令许多华尔街投资者感到有些困惑,因为股市——尤其是那些几乎没有盈利的高风险成长型股票——抵御住了更具吸引力的债券收益率的拉动,以及加息的威胁,从去年的大幅抛售中强劲反弹。但一些华尔街分析师表示,他们找到了一种与通胀和全球经济状况无关的解释。答案就是:尽管美联储、欧洲中央银行和英格兰银行已经宣称他们正在试图抽干银行系统泛滥的流动性,但在全球范围内,流动性实际上在最近几个月有所增加。这在一定程度上是由于政策制定者无法控制的因素造成的。万亿美元级别的资产价格上涨在上个月与客户分享的一份研究报告中,花旗集团(Citigroup)全球市场策略师马特·金(Matt King)详细描述了世界各大央行最近如何向全球金融体系注入1万亿美元。根据金的分析,这一增长大部分来自中国人民银行,它逆全球货币紧缩趋势而动,选择直接向其银行系统注入流动性,占据了1万亿美元数字的大部分。“尽管各国央行告诉我们,他们将收紧货币政策,但事实证明,在全球层面上,他们在过去三个月里刚刚增加了价值1万亿美元的流动性,”金表示。金在报告中表示,他得出结论认为,基本面的变化(即经济增长和通胀前景的变化)不能解释全球市场的波动,包括全球股市的反弹,因此他受到启发,更仔细地研究了央行的资产负债表。当他最终将全球股市走势与全球央行流动性的变化趋势进行对比时,他发现,这几乎是一种完美的契合。下图追踪了摩根士丹利资本国际全球指数990100的表现,该指数反映了银行体系流动性的起伏。根据 FactSet 的数据,该指数自9月底以来已上涨12%。大约在同一时间,全球央行的流动性停止下降,开始再次扩张。但金和另一位驻伦敦策略师、宏观咨询公司 CrossBorder Capital 董事总经理迈克尔·豪厄尔(Michael Howell)表示,就连美联储也在以一种更为被动的方式加剧了流动性泛滥。一年多以来,美联储一直在宣传其计划,通过提高利率和减少债券持有量来“收紧”美国金融体系的流动性,方法是选择不将到期债券的收益进行再投资。根据圣路易斯联邦储备银行的数据,尽管自去年春天以来,美联储持有的债券规模缩减了约5000亿美元,但其资产负债表的另一个重要组成部分——美国银行系统准备金——似乎没有增长。根据美联储每周发布的最新数据,截至2月22日,美联储各银行的准备金余额为3.01万亿美元,这比9月底的2.9万亿美元略有上升。豪厄尔表示: “据称美联储正在剥离资产负债表,但银行准备金没有下降”。他表示,这也可能有助于支撑股价,因为美国银行业向金融体系注入的资金规模已经扩大,而非收缩。股市开始回落可以肯定的是,美国股市在最近几周已经回落,根据 FactSet 的数据,纳斯达克综合指数在一月份上涨了0.73% 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