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本帖最后由 小曲 于 2011-6-8 14:55 编辑
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Signature Market Roundup$ p6 N! ~1 m/ d. l0 c
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Eric Bushell4 r+ B* [9 P4 m( Y9 K
Senior Vice-President,4 k5 f U8 Q' x% Z. B
Portfolio Management
4 S: q- b3 m+ ~4 O6 d) band Chief Investment Officer
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自lehman倒台后美国第二阶段的风险投资的恢复到四月底基本结束了。第一阶段是从2009三月到2010四月， 但被欧洲的债务危机和美国的减慢中断了。第二阶段是从美国联邦储备局2010年九月份开始的非传统的缓解政策，被称为QE2. 这个运作造成投资者抛售美金抢购房地产，商品期货，贷款，和股票。现在这个政策趋近结束，美金趋于稳定，这会帮助美国财政缩减，解除政卷市场的压力。面对美国QE2政策的成功，而世界其他地区都非常不稳定，现在可能是时候将投资定位到中性风险。
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8 m# o4 U9 W- ?1 X& [2 CThe second phase of the post-Lehman recovery in risky assets- q2 _. P3 P$ e/ N0 ~# H
may be drawing to a close in April 2011. The fi rst phase7 E7 L- a9 O% _5 J- L F. a& y& j7 d
ran from March 2009 to April 2010 and was halted by the
& u" E+ U/ g; ^European sovereign crisis and a U.S. slowdown. The second
9 r l" `0 w2 e' T. @phase began with the U.S. Federal Reserve launching an0 s# [* C) e$ D% h9 v& O; k
unconventional easing policy dubbed QE2 in September I1 s9 e7 c1 c
2010. This action saw investors exit the dollar and scramble$ e5 }# X/ g* Y
for real assets ranging from property to commodities, credit: ?/ w6 E3 x+ U$ I# F' |. H
and equities. As we near the end of this policy, prospects( R% O& h* ~: V3 f: K# I
for dollar stabilization grow; this would be helped through; j) S m$ I0 e3 P- ]# ]
U.S. fi scal retrenchment and relief on the part of bond. e: F" ~8 Q; E( y
markets. Given the success of the policy and the heightened
3 u" Q: A8 A! L* d! {* guncertainties elsewhere, it may be time to move to a more8 d, O# u7 ^* n2 L
neutral risk positioning. |
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发表于 2011-6-8 13:44
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