汇丰策略师警示美股回调风险财报季后建议减持股票

智通财经07-21

【汇丰策略师警示美股回调风险财报季后建议减持股票】汇丰银行首席多资产策略师马克斯・凯特纳表示，本轮财报季过后，股票投资者应当适度降低持仓风险。他警示，市场情绪过热、财政刺激效应消退叠加美国中期选举不确定性，可能引发股市回调。自 3 月中旬起凯特纳一直维持股票最高超配仓位，他称当前市场持仓与情绪指标已接近 2021 年经济重启行情时期的水平，且美国部分信用卡数据已显现居民消费走弱迹象。他提到，“...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohunote.com/m/news/2653227039?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-07-21 16:30","share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","id":"2653227039","market":"us","top_or_hot":-1,"title":"汇丰策略师警示美股回调风险 财报季后建议减持股票","media":"智通财经","content":"<div>\n<p>【汇丰策略师警示美股回调风险 财报季后建议减持股票】汇丰银行首席多资产策略师马克斯・凯特纳表示，本轮财报季过后，股票投资者应当适度降低持仓风险。他警示，市场情绪过热、财政刺激效应消退叠加美国中期选举不确定性，可能引发股市回调。自 3 月中旬起凯特纳一直维持股票最高超配仓位，他称当前市场持仓与情绪指标已接近 2021 年经济重启行情时期的水平，且美国部分信用卡数据已显现居民消费走弱迹象。他提到，“...</p>\n\n<a href=\"https://www.zhitongcaijing.com/immediately.html?type=usstock\">网页链接</a>\n\n</div>\n","source":"live_zhitongcaijing","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>汇丰策略师警示美股回调风险 财报季后建议减持股票</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n汇丰策略师警示美股回调风险 财报季后建议减持股票\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-07-21 16:30 北京时间&nbsp;&nbsp;&nbsp;<a href=https://www.zhitongcaijing.com/immediately.html?type=usstock><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>【汇丰策略师警示美股回调风险 财报季后建议减持股票】汇丰银行首席多资产策略师马克斯・凯特纳表示，本轮财报季过后，股票投资者应当适度降低持仓风险。他警示，市场情绪过热、财政刺激效应消退叠加美国中期选举不确定性，可能引发股市回调。自 3 月中旬起凯特纳一直维持股票最高超配仓位，他称当前市场持仓与情绪指标已接近 2021 年经济重启行情时期的水平，且美国部分信用卡数据已显现居民消费走弱迹象。他提到，“...</p>\n\n<a href=\"https://www.zhitongcaijing.com/immediately.html?type=usstock\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HSBC","symbol_name":"汇丰","start_time":0,"source_url":"https://www.zhitongcaijing.com/immediately.html?type=usstock","article_id":"2653227039","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2653227039","pubTimestamp":1784622604,"columns":[],"sourceInfo":{"source_id":"live_zhitongcaijing","name":"智通财经网"},"weMediaInfo":null,"summary":"【汇丰策略师警示美股回调风险 财报季后建议减持股票】汇丰银行首席多资产策略师马克斯・凯特纳表示，本轮财报季过后，股票投资者应当适度降低持仓风险。他警示，市场情绪过热、财政刺激效应消退叠加美国中期选举不","collect":0,"end_time":0,"defaultTopTitle":"zhitongcaijing.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"HSBC":"汇丰","DDFZ":"Innovator Equity Dual Directional 15 Buffer ETF - June","DGOC":"FT Vest U.S. Equity Buffer & Digital Return ETF - October","PBMR":"PGIM S&P 500 Buffer 20 ETF - March","PMNV":"PGIM S&P 500 Max Buffer ETF - November","EOI":"Eaton Vance Enhanced Equity Inco","TENJ":"iShares Large Cap 10% Target Buffer Jun ETF","YBTY":"GraniteShares YieldBoost TopYielders ETF","FDEC":"FT Vest U.S. Equity Buffer ETF - December","XDOC":"Innovator U.S. Equity Accelerated ETF - October","CPSJ":"Calamos S&P 500 Structured Alt Protection ETF - July","GBXB":"Goldman Sachs U.S. Large Cap Buffer 2 ETF","QIDX":"Indexperts Quality Earnings Focused ETF","AINT":"FINQ Dollar Neutral U.S. Large Cap AI-Managed Equity ETF","BUFF":"Innovator Laddered Allocation Power Buffer ETF","JANZ":"TrueShares Structured Outcome (January) ETF","HSBH":"HSBC Holdings plc ADRhedged","CJUN":"Corgi U.S. Equities 15% Structured Buffer ETF - June Series","PJAN":"Innovator U.S. Equity Power Buffer ETF - January","QBQV":"AllianzIM Growth-100 Buffer5 ETF","DSPY":"Tema S&P 500 Historical Weight ETF Strategy","APRP":"PGIM S&P 500 Buffer 12 ETF - April","DECP":"PGIM S&P 500 Buffer 12 ETF - December","ETB":"Eaton Vance Tax-Managed Buy-Writ","BSTP":"INNOVATOR BUFFER STEP-UP STRATEGY ETF","IWFL":"ETRACS 2x Leveraged US Growth Factor TR ETN","ZALT":"INNOVATOR U.S. EQUITY 10 BUFFER ETF - QUARTERLY","XDSQ":"Innovator U.S. Equity Accelerated ETF - Quarterly","DECT":"AllianzIM U.S. Equity Buffer10 Dec ETF","MARM":"FT Vest U.S. Equity Max Buffer ETF - March","NAPR":"Innovator Growth-100 Power Buffer ETF - April","XFEB":"FT VEST U.S. EQUITY ENHANCE & MODERATE BUFFER ETF - FEBRUARY","GMAY":"FT Vest U.S. Equity Moderate Buffer ETF - May","XMAR":"FT Vest U.S. Equity Enhance & Moderate Buffer ETF - March","XTR":"Global X S&P 500 Tail Risk ETF","DDTS":"Innovator Equity Dual Directional 10 Buffer ETF - September","DDFN":"Innovator Equity Dual Directional 15 Buffer ETF - November","AUGT":"AllianzIM U.S. Equity Buffer10 Aug ETF","BUFB":"Innovator Laddered Allocation Buffer ETF","FJUN":"FT Vest U.S. Equity Buffer ETF - June","PBAU":"PGIM S&P 500 Buffer 20 ETF - August","ZJUL":"Innovator Equity Defined Protection ETF - 1 Yr July","BUFP":"PGIM Laddered S&P 500 Buffer 12 ETF","MART":"AllianzIM U.S. Equity Buffer10 Mar ETF","ISPY":"PROSHARES S&P 500 HIGH INCOME ETF","AFLG":"First Trust Active Factor Large Cap ETF","JUNP":"PGIM S&P 500 Buffer 12 ETF - June","DDTD":"Innovator Equity Dual Directional 10 Buffer ETF - December","ZOCT":"Innovator Equity Defined Protection ETF - 1 Yr October","USEP":"Innovator U.S. Equity Ultra Buffer ETF - September"},"translate_title":"HSBC strategist warns of US stock pullback risk, recommends reducing stock holdings after earnings season","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MART":1.5,"USEP":1.5,"XFEB":1.5,"ZJUL":1.5,"DDFZ":1.5,"JANZ":1.5,"XDSQ":1.5,"DECP":1.5,"ETB":1.5,"ISPY":1.5,"HSBH":0.6,"BUFP":1.5,"XDOC":1.5,"PMNV":1.5,"AUGT":1.5,"CJUN":1.5,"BUFF":1.5,"FDEC":1.5,"GMAY":1.5,"DECT":1.5,"FJUN":1.5,"IWFL":1.5,"AFLG":1.5,"MARM":1.5,"BSTP":1.5,"JUNP":1.5,"TENJ":1.5,"PJAN":1.5,"DDTD":1.5,"APRP":1.5,"PBAU":1.5,"QIDX":1.5,"ZOCT":1.5,"AINT":1.5,"DDFN":1.5,"NAPR":1.5,"PBMR":1.5,"QBQV":1.5,"EOI":1.5,"XMAR":1.5,"CPSJ":1.5,"GBXB":1.5,"DGOC":1.5,"HSBC":1.5,"YBTY":1.5,"BUFB":1.5,"ZALT":1.5,"XTR":1.5,"DSPY":1.5,"DDTS":1.5},"content_text":"【汇丰策略师警示美股回调风险 财报季后建议减持股票】汇丰银行首席多资产策略师马克斯・凯特纳表示，本轮财报季过后，股票投资者应当适度降低持仓风险。他警示，市场情绪过热、财政刺激效应消退叠加美国中期选举不确定性，可能引发股市回调。自 3 月中旬起凯特纳一直维持股票最高超配仓位，他称当前市场持仓与情绪指标已接近 2021 年经济重启行情时期的水平，且美国部分信用卡数据已显现居民消费走弱迹象。他提到，“大而美”法案带来的财政刺激力度堪比 2009 年金融危机救市方案，相关利好集中释放于 2026 年上半年，后续增量支撑空间有限。凯特纳表示：“我预计一个月至一个半月后财报季落幕、中期选举临近之际，将是适度减仓避险的合适时点。”","kind":"live","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":true,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":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 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"isLaohu8Offline":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.44.1","shortVersion":"4.44.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2653227039","isCrawlerRequest":true}

汇丰策略师警示美股回调风险 财报季后建议减持股票

精彩评论

汇丰策略师警示美股回调风险财报季后建议减持股票