高盛预警：美股暴跌背后暗藏“极端对冲”恐慌

金十数据11-21

AI播客：换个方式听新闻下载mp3音频由扣子空间生成高盛集团合伙人约翰·弗勒德（John Flood）指出，周四美股戏剧性逆转凸显出，英伟达公司的爆表业绩并未给交易员带来期盼中的“风险解除”信号，反而促使他们紧急构筑防线以规避进一步损失。美股周四早盘开门红迅速化为泡影。标普500指数开盘首小时飙涨1.9%，却在当地时间下午一点前转为下跌——创下自4月市场动荡以来最大日内波动，较当日峰值蒸发逾2...

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Flood）指出，周四美股戏剧性逆转凸显出，英伟达公司的爆表业绩并未给交易员带来期盼中的“风险解除”信号，反而促使他们紧急构筑防线以规避进一步损失。美股周四早盘开门红迅速化为泡影。标普500指数开盘首小时飙涨1.9%，却在当地时间下午一点前转为下跌——创下自4月市场动荡以来最大日内波动，较当日峰值蒸发逾2万亿美元市值，并数月来首次收于100日移动均线下方。恐慌指数VIX跃升至26以上。标普500指数周四逆转盘初1.9%涨幅后收跌此番剧烈逆转发生在英伟达交出历史性财报的背景下，令交易员疯狂寻找解释。各种理论层出不穷：从好坏参半的9月非农就业报告引发的美联储降息能力质疑，到对过高估值的忧虑，再到可能促使快钱基金持续抛售的技术面动态。“市场此刻布满旧伤疤痕，”弗勒德在致客户报告中写道，“市场正极度聚焦于对冲‘拥挤风险’，投资者已进入纯粹的盈亏保护模式。”高盛交易部门观察到宏观产品领域的做空活动激增，涵盖交易所交易基金、定制篮子及期货品种。该部门同时指出流动性显著恶化——标普500盘口深度（衡量的是市场的流动性缓冲垫）已跌破500万美元，远低于1150万美元的年度平均值，这一因素可能正放大股市波动幅度。弗勒德指出，自1957年以来（包括周四在内）共出现八次标普500开盘涨超1%却收跌的案例。积极的一面在于，此类事件后市场平均表现向好，次日及次周涨幅至少达2.3%，随后一个月平均上涨4.7%。“这类逆转事件将促使投资者重新检视风险敞口，”弗勒德总结道。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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