To The Moon

Over the past week, CME has raised margin requirements on precious metals contracts three times in a row, reigniting discussions across the market. Many traders are once again asking whether the exchange is adjusting risk parameters in response to market conditions.This kind of debate is nothing new. Similar arguments have surfaced repeatedly in past episodes whenever sharp moves in silver prices were followed by rapid margin increases.Looking back at the silver market in 2011, the pace of margin requirement adjustments and the price action that followed may offer a more sober reference point for today’s market.Between April and May 2011, silver prices surged rapidly, reaching an all-time high of nearly USD 50 per ounce in late April to early May. The rally was soon followed by a sharp col

Against a backdrop of heightened market volatility, the U.S. healthcare sector has maintained relatively resilient performance. Compared with the previous trading session, a pullback in overall risk appetite has led to a clearer internal differentiation among healthcare-related ETFs. Volatility remains more pronounced in biotechnology-focused products, while ETFs centered on large-cap pharmaceuticals and diversified healthcare have exhibited comparatively stable performance. Overall, the defensive characteristics of the healthcare sector continue to provide a degree of support under the current market environment. From an internal structural perspective, biotechnology-related ETFs have experienced relatively larger drawdowns, whereas products concentrated in large pharmaceutical companies

In last night’s U.S. equity session, healthcare and pharmaceutical stocks posted broad-based strength, with related healthcare ETFs clearly outperforming the broader market. Against a backdrop of tech sector dispersion and more cautious market sentiment, healthcare has once again moved into focus for capital allocation. From both a fundamental and trading-logic perspective, the rebound in the healthcare sector is not accidental： The defensive profile is reasserting itself: Amid ongoing macro uncertainty, healthcare remains a classic non-cyclical, demand-inelastic sector. With stable cash flows and relatively low earnings volatility, healthcare assets tend to attract inflows when risk appetite moderates. Valuation repair has become a key driver: After the prior correction, overall valuation

Recently, shares of Samsung Electronics and SK Hynix have rallied aggressively. Samsung jumped 7.4% on the first trading day after the new year and then another 8% on Monday, leaving investors in awe. As underlying equities soared, related ETFs also went into overdrive. Most notably, $南方两倍做多三星电子(07747)$ surged 32% over two trading days, while $南方两倍做多海力士(07709)$ gained 15% over the same period. Driven by Samsung and SK Hynix, $韩国ETF-iShares MSCI(EWY)$ broadly lifted off, delivering year-to-date gains exceeding 7.8%, significantly outperforming both the $标普500(.SPX)$ and the $纳斯达克100指