RosalindLynn的个人主页 - 老虎社区

RosalindLynn

暂无个人介绍

IP属地：未知

52关注

2粉丝

0主题

0勋章

2021-06-13

Nice

抱歉，原内容已删除

2021-06-13

Yay

抱歉，原内容已删除

2021-06-12

This is a post

2021-06-12

Post

抱歉，原内容已删除

2021-06-12

Comment

抱歉，原内容已删除

2021-06-11

Testing port 123

2021-06-11

Oooo

How Much Longer Will Alibaba Stay Cheap?<blockquote>阿里巴巴-SW还会保持便宜多久？</blockquote>

2021-03-10

[微笑] [微笑]

抱歉，原内容已删除

2021-03-09

Like and comment

抱歉，原内容已删除

2021-03-08

[呆住] [呆住]

Financial Stocks Have Crushed Tech. The Trade Is Still Alive.<blockquote>金融股碾压了科技股。交易仍然活跃。</blockquote>

2021-03-07

Ooo

Palantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote>

2021-03-06

[微笑] [微笑]

Palantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote>

2021-03-05

Nice!

抱歉，原内容已删除

2021-03-04

Comment pls

U.S. weekly jobless claims total 745,000, less than expected<blockquote>美国周度初请失业金人数总计74.5万人不及预期</blockquote>

2021-03-03

Wow

SPACs are now a $700 billion market: Morning Brief<blockquote>SPAC现在是一个7000亿美元的市场：早间简报</blockquote>

2021-03-02

[呆住] [呆住] [呆住]

抱歉，原内容已删除

2021-03-01

Ooooo! [开心]

抱歉，原内容已删除

2021-02-28

Interesting insights

抱歉，原内容已删除

2021-02-27

Hmmmmm

抱歉，原内容已删除

2021-02-26

Bitcoin!!

抱歉，原内容已删除

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3575424579362415","uuid":"3575424579362415","gmtCreate":1612330771196,"gmtModify":1612330771196,"name":"RosalindLynn","pinyin":"rosalindlynn","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.laohu8.com/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":2,"headSize":52,"tweetSize":28,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.06.22","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"228c86a078844d74991fff2b7ab2428d-2","templateUuid":"228c86a078844d74991fff2b7ab2428d","name":"投资总监虎","description":"证券账户累计交易金额达到30万美元","bigImgUrl":"https://static.tigerbbs.com/9d20b23f1b6335407f882bc5c2ad12c0","smallImgUrl":"https://static.tigerbbs.com/ada3b4533518ace8404a3f6dd192bd29","grayImgUrl":"https://static.tigerbbs.com/177f283ba21d1c077054dac07f88f3bd","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"80.69%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"35ec162348d5460f88c959321e554969-3","templateUuid":"35ec162348d5460f88c959321e554969","name":"传说交易员","description":"证券或期货账户累计交易次数达到300次","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.76%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":186489021,"gmtCreate":1623521542163,"gmtModify":1634032159382,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186489021","repostId":"2142878860","repostType":4,"isVote":1,"tweetType":1,"viewCount":2064,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186480480,"gmtCreate":1623521527140,"gmtModify":1634032159627,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Yay","listText":"Yay","text":"Yay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186480480","repostId":"2142788457","repostType":4,"isVote":1,"tweetType":1,"viewCount":1226,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188764332,"gmtCreate":1623462541326,"gmtModify":1634032883108,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"This is a post&nbsp;","listText":"This is a post&nbsp;","text":"This is a post","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/188764332","isVote":1,"tweetType":1,"viewCount":2351,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188768652,"gmtCreate":1623462408676,"gmtModify":1631884647492,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Post","listText":"Post","text":"Post","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/188768652","repostId":"1131421513","repostType":4,"isVote":1,"tweetType":1,"viewCount":1103,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188761219,"gmtCreate":1623462373931,"gmtModify":1634032887254,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/188761219","repostId":"2142823202","repostType":4,"isVote":1,"tweetType":1,"viewCount":1571,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181554023,"gmtCreate":1623403403462,"gmtModify":1634033706023,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Testing port 123&nbsp;","listText":"Testing port 123&nbsp;","text":"Testing port 123","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/181554023","isVote":1,"tweetType":1,"viewCount":2370,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181552562,"gmtCreate":1623403340456,"gmtModify":1634033706978,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Oooo&nbsp;","listText":"Oooo&nbsp;","text":"Oooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/181552562","repostId":"1180091968","repostType":4,"repost":{"id":"1180091968","kind":"news","pubTimestamp":1623403203,"share":"https://www.laohu8.com/m/news/1180091968?lang=zh_CN&edition=full","pubTime":"2021-06-11 17:20","market":"us","language":"en","title":"How Much Longer Will Alibaba Stay Cheap?<blockquote>阿里巴巴-SW还会保持便宜多久？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180091968","media":"Seekingalpha","summary":"Summary\n\nDown over the past year, shares of Alibaba have not participated with the general rally in ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Down over the past year, shares of Alibaba have not participated with the general rally in the markets.</li>  <li>Alibaba is a strong business with accelerating free cash flow generation and a clean balance sheet. The company has deep pockets to continue growing.</li>  <li>The valuation that shares trade at is compressed, but seems poised to rebound. Fundamentals eventually steer the share price.</li> </ul> E-commerce has been a powerful investing theme throughout the pandemic. While many stocks that sell over the internet have been thriving, Chinese conglomerate Alibaba Group Holding Limited (BABA) has been a notable laggard. Shares of Alibaba are in the red over the past year, while the S&amp;P 500 has ripped higher, gaining 32%.</p><p><blockquote><ul><li>阿里巴巴-SW股价在过去一年下跌后，并未参与市场的普遍上涨。</li><li>阿里巴巴-SW是一家实力强劲的企业，拥有加速的自由现金流生成和干净的资产负债表。该公司财力雄厚，可以继续发展。</li><li>股票交易估值被压缩，但似乎有望反弹。基本面最终会引导股价。</li></ul>在整个疫情，电子商务一直是一个强有力的投资主题。尽管许多通过互联网销售的股票一直蓬勃发展，但中国企业集团阿里巴巴-SW集团控股有限公司（BABA）却明显落后。阿里巴巴-SW的股价在过去一年中一直处于亏损状态，而标普500则大幅上涨，上涨了32%。</blockquote></p><p> Alibaba has been caught in some controversy surrounding thefailed IPOof Ant Group and its founderJack Ma. While the market has focused on these distractions, the actual underlying business of Alibaba is performing at a high level. With strong fundamentals and rapidly growing free cash flow, it's only a matter of time before the market begins to focus on what matters...the business. We will outline our investment thesis below.</p><p><blockquote>围绕蚂蚁集团及其创始人马云的IPO失败，阿里巴巴-SW陷入了一些争议。虽然市场关注这些干扰因素，但阿里巴巴-SW的实际基础业务表现却很高。凭借强劲的基本面和快速增长的自由现金流，市场开始关注重要的事情只是时间问题……业务。我们将在下面概述我们的投资论点。</blockquote></p><p> <b>Free Cash Flow Growth Is Stellar</b></p><p><blockquote><b>自由现金流增长惊人</b></blockquote></p><p> Alibaba is a frequently covered business on Seeking Alpha, so I won't rehash the basics about the business or dive into the political controversy that has plagued the stock. Instead, I want to focus on the financial inflection point that Alibaba has recently hit.</p><p><blockquote>阿里巴巴-SW是Seeking Alpha上经常报道的业务，因此我不会重复该业务的基础知识，也不会深入探讨困扰该股的政治争议。相反，我想重点谈谈阿里巴巴-SW最近遇到的金融拐点。</blockquote></p><p> The company ended its fiscal year at the end of March. What we see is a diversified business with several growing segments that align with macroeconomic trends.</p><p><blockquote>该公司于三月底结束了财年。我们看到的是一个多元化的业务，有几个不断增长的细分市场与宏观经济趋势保持一致。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/862988aec2c33c72dc1786de483f952a\" tg-width=\"640\" tg-height=\"391\" referrerpolicy=\"no-referrer\">source: Alibaba Group Holding Limited</p><p><blockquote>资料来源：阿里巴巴-SW集团控股有限公司</blockquote></p><p> The largest revenue contributor, of course, is the company's retail operations. While its commerce segment continues to narrate revenue growth (total core commerce grew 2020 revenues 42% versus company revenues growing 41%), some smaller segments are showing strong growth.</p><p><blockquote>当然，最大的收入贡献者是公司的零售业务。虽然其商业部门继续实现收入增长（2020年核心商业总收入增长42%，而公司收入增长41%），但一些较小的部门也显示出强劲增长。</blockquote></p><p> For example, Alibaba's cloud computing operations grew 50% in 2020, and its new retail and direct sales businesses grew 94% year-over-year. What is most promising is that Alibaba is accelerating its free cash flow growth in recent years. The company's $26.35 billion in 2021 FCF is a 29% year-over-year jump from 2020. Alibaba grew FCF 25% from 2019 to 2020.</p><p><blockquote>例如，阿里巴巴-SW的云计算业务在2020年增长了50%，新零售和直销业务同比增长了94%。最有希望的是，阿里巴巴-SW近年来正在加速其自由现金流的增长。该公司2021年自由现金流为263.5亿美元，较2020年同比增长29%。从2019年到2020年，阿里巴巴-SW的自由现金流增长了25%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ba9d4b224eedbd99d8d22f0a2092b204\" tg-width=\"640\" tg-height=\"98\" referrerpolicy=\"no-referrer\">source: Alibaba Holding Group Limited</p><p><blockquote>资料来源：阿里巴巴-SW控股集团有限公司</blockquote></p><p> With $72 billion in cash on hand as of March 31st and the business generating more than $26 billion in free cash flow, Alibaba has deep pockets to develop its growing business segments and seek out opportunities to create new growth with M&amp;A or other developments.</p><p><blockquote>截至3月31日，阿里巴巴-SW手头现金为720亿美元，该业务产生了超过260亿美元的自由现金流，拥有雄厚的财力来发展其不断增长的业务部门，并寻找机会通过并购或其他发展创造新的增长。</blockquote></p><p> <b>How Long Can Alibaba Stay \"Cheap\"?</b></p><p><blockquote><b>阿里巴巴-SW还能“便宜”多久？</b></blockquote></p><p> It's hard to understand just how beaten down Alibaba's stock is until you look at things from a free cash flow perspective. Alibaba is currently trading with an FCF yield approaching 6%. By comparison, the next highest FCF yield is Amazon (AMZN), with a yield of just 1.3%.</p><p><blockquote>除非你从自由现金流的角度看待问题，否则很难理解阿里巴巴-SW的股票有多下跌。阿里巴巴-SW目前的自由现金流收益率接近6%。相比之下，FCF收益率第二高的是亚马逊（AMZN），收益率仅为1.3%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3423f615c0dc856b040442e4ff17b78f\" tg-width=\"640\" tg-height=\"521\" referrerpolicy=\"no-referrer\">source: YCharts</p><p><blockquote>资料来源：YCharts</blockquote></p><p> This is a tremendous discount to Alibaba's peer group, despite the company accelerating FCF growth and having a ton of cash on hand. And because Alibaba is a healthy and growing company, the stock is poised to become even more attractively valued.</p><p><blockquote>尽管阿里巴巴-SW的自由现金流正在加速增长并且手头拥有大量现金，但这对该公司的同行来说是一个巨大的折扣。由于阿里巴巴-SW是一家健康且不断增长的公司，该股的估值将变得更具吸引力。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6d76517c900c76b94c5bd4aaf02ec91a\" tg-width=\"640\" tg-height=\"226\" referrerpolicy=\"no-referrer\">source: Seeking Alpha</p><p><blockquote>资料来源：寻求阿尔法</blockquote></p><p> The company is estimated to continue growing revenues at a swift clip, approaching $210 billion in annual revenue over the next three years. If we apply the company's 24% conversion rate of revenue to FCF, that will give us 2024 FCF of $50 billion. In other words, an FCF yield of 8.6% on today's share price. This is simply something you don't often see for a company's stock growing so rapidly at such an already large size.</p><p><blockquote>预计该公司的收入将继续快速增长，未来三年收入将接近2100亿美元。如果我们将公司24%的收入转化率应用于FCF，那么2024年FCF将达到500亿美元。换句话说，按今天的股价计算，FCF收益率为8.6%。对于一家公司的股票在规模如此之大的情况下增长如此之快，这是你不常见到的。</blockquote></p><p> The stock is clearly being punished for some of the drama that Alibaba has faced over the past year and some of the current tension between the United States and China. This is a risk that investors need to keep in mind, as anything can happen, and Alibaba may become collateral damage of political conflict. However, if it becomes clear to the market that the outlook is promising, Alibaba could aggressively rerate. Even if Alibaba saw its FCF yield fall to around 3%, it would imply an upside in shares of 46%. This would put Alibaba at an enterprise value of more than $800 billion, but I believe those shoes the company could certainly fill.</p><p><blockquote>该股显然因阿里巴巴-SW过去一年面临的一些戏剧性事件以及当前中美之间的一些紧张局势而受到惩罚。这是投资者需要牢记的风险，因为任何事情都可能发生，阿里巴巴-SW可能成为政治冲突的附带损害。然而，如果市场清楚地看到前景看好，阿里巴巴-SW可能会大幅重新评级。即使阿里巴巴-SW的FCF收益率跌至3%左右，也意味着股价上涨46%。这将使阿里巴巴-SW的企业价值超过8000亿美元，但我相信该公司肯定可以填补这些空缺。</blockquote></p><p> <b>Wrapping Up</b></p><p><blockquote><b>包装</b></blockquote></p><p></p><p> Alibaba is a fantastic business that has been caught up in some political drama. Despite its size, the company is growing rapidly, is profitable, and generates tons of free cash flow. Investors cannot ignore the political risks, but the upside is tremendous for brave and patient investors.</p><p><blockquote>阿里巴巴-SW是一个奇妙的企业，却陷入了一些政治戏剧。尽管规模很大，但该公司发展迅速，盈利，并产生大量自由现金流。投资者不能忽视政治风险，但对于勇敢和耐心的投资者来说，上行空间是巨大的。</blockquote></p><p></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>How Much Longer Will Alibaba Stay Cheap?<blockquote>阿里巴巴-SW还会保持便宜多久？</blockquote></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\">\nHow Much Longer Will Alibaba Stay Cheap?<blockquote>阿里巴巴-SW还会保持便宜多久？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seekingalpha</strong><span class=\"h-time small\">2021-06-11 17:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Down over the past year, shares of Alibaba have not participated with the general rally in the markets.</li>  <li>Alibaba is a strong business with accelerating free cash flow generation and a clean balance sheet. The company has deep pockets to continue growing.</li>  <li>The valuation that shares trade at is compressed, but seems poised to rebound. Fundamentals eventually steer the share price.</li> </ul> E-commerce has been a powerful investing theme throughout the pandemic. While many stocks that sell over the internet have been thriving, Chinese conglomerate Alibaba Group Holding Limited (BABA) has been a notable laggard. Shares of Alibaba are in the red over the past year, while the S&amp;P 500 has ripped higher, gaining 32%.</p><p><blockquote><ul><li>阿里巴巴-SW股价在过去一年下跌后，并未参与市场的普遍上涨。</li><li>阿里巴巴-SW是一家实力强劲的企业，拥有加速的自由现金流生成和干净的资产负债表。该公司财力雄厚，可以继续发展。</li><li>股票交易估值被压缩，但似乎有望反弹。基本面最终会引导股价。</li></ul>在整个疫情，电子商务一直是一个强有力的投资主题。尽管许多通过互联网销售的股票一直蓬勃发展，但中国企业集团阿里巴巴-SW集团控股有限公司（BABA）却明显落后。阿里巴巴-SW的股价在过去一年中一直处于亏损状态，而标普500则大幅上涨，上涨了32%。</blockquote></p><p> Alibaba has been caught in some controversy surrounding thefailed IPOof Ant Group and its founderJack Ma. While the market has focused on these distractions, the actual underlying business of Alibaba is performing at a high level. With strong fundamentals and rapidly growing free cash flow, it's only a matter of time before the market begins to focus on what matters...the business. We will outline our investment thesis below.</p><p><blockquote>围绕蚂蚁集团及其创始人马云的IPO失败，阿里巴巴-SW陷入了一些争议。虽然市场关注这些干扰因素，但阿里巴巴-SW的实际基础业务表现却很高。凭借强劲的基本面和快速增长的自由现金流，市场开始关注重要的事情只是时间问题……业务。我们将在下面概述我们的投资论点。</blockquote></p><p> <b>Free Cash Flow Growth Is Stellar</b></p><p><blockquote><b>自由现金流增长惊人</b></blockquote></p><p> Alibaba is a frequently covered business on Seeking Alpha, so I won't rehash the basics about the business or dive into the political controversy that has plagued the stock. Instead, I want to focus on the financial inflection point that Alibaba has recently hit.</p><p><blockquote>阿里巴巴-SW是Seeking Alpha上经常报道的业务，因此我不会重复该业务的基础知识，也不会深入探讨困扰该股的政治争议。相反，我想重点谈谈阿里巴巴-SW最近遇到的金融拐点。</blockquote></p><p> The company ended its fiscal year at the end of March. What we see is a diversified business with several growing segments that align with macroeconomic trends.</p><p><blockquote>该公司于三月底结束了财年。我们看到的是一个多元化的业务，有几个不断增长的细分市场与宏观经济趋势保持一致。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/862988aec2c33c72dc1786de483f952a\" tg-width=\"640\" tg-height=\"391\" referrerpolicy=\"no-referrer\">source: Alibaba Group Holding Limited</p><p><blockquote>资料来源：阿里巴巴-SW集团控股有限公司</blockquote></p><p> The largest revenue contributor, of course, is the company's retail operations. While its commerce segment continues to narrate revenue growth (total core commerce grew 2020 revenues 42% versus company revenues growing 41%), some smaller segments are showing strong growth.</p><p><blockquote>当然，最大的收入贡献者是公司的零售业务。虽然其商业部门继续实现收入增长（2020年核心商业总收入增长42%，而公司收入增长41%），但一些较小的部门也显示出强劲增长。</blockquote></p><p> For example, Alibaba's cloud computing operations grew 50% in 2020, and its new retail and direct sales businesses grew 94% year-over-year. What is most promising is that Alibaba is accelerating its free cash flow growth in recent years. The company's $26.35 billion in 2021 FCF is a 29% year-over-year jump from 2020. Alibaba grew FCF 25% from 2019 to 2020.</p><p><blockquote>例如，阿里巴巴-SW的云计算业务在2020年增长了50%，新零售和直销业务同比增长了94%。最有希望的是，阿里巴巴-SW近年来正在加速其自由现金流的增长。该公司2021年自由现金流为263.5亿美元，较2020年同比增长29%。从2019年到2020年，阿里巴巴-SW的自由现金流增长了25%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ba9d4b224eedbd99d8d22f0a2092b204\" tg-width=\"640\" tg-height=\"98\" referrerpolicy=\"no-referrer\">source: Alibaba Holding Group Limited</p><p><blockquote>资料来源：阿里巴巴-SW控股集团有限公司</blockquote></p><p> With $72 billion in cash on hand as of March 31st and the business generating more than $26 billion in free cash flow, Alibaba has deep pockets to develop its growing business segments and seek out opportunities to create new growth with M&amp;A or other developments.</p><p><blockquote>截至3月31日，阿里巴巴-SW手头现金为720亿美元，该业务产生了超过260亿美元的自由现金流，拥有雄厚的财力来发展其不断增长的业务部门，并寻找机会通过并购或其他发展创造新的增长。</blockquote></p><p> <b>How Long Can Alibaba Stay \"Cheap\"?</b></p><p><blockquote><b>阿里巴巴-SW还能“便宜”多久？</b></blockquote></p><p> It's hard to understand just how beaten down Alibaba's stock is until you look at things from a free cash flow perspective. Alibaba is currently trading with an FCF yield approaching 6%. By comparison, the next highest FCF yield is Amazon (AMZN), with a yield of just 1.3%.</p><p><blockquote>除非你从自由现金流的角度看待问题，否则很难理解阿里巴巴-SW的股票有多下跌。阿里巴巴-SW目前的自由现金流收益率接近6%。相比之下，FCF收益率第二高的是亚马逊（AMZN），收益率仅为1.3%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3423f615c0dc856b040442e4ff17b78f\" tg-width=\"640\" tg-height=\"521\" referrerpolicy=\"no-referrer\">source: YCharts</p><p><blockquote>资料来源：YCharts</blockquote></p><p> This is a tremendous discount to Alibaba's peer group, despite the company accelerating FCF growth and having a ton of cash on hand. And because Alibaba is a healthy and growing company, the stock is poised to become even more attractively valued.</p><p><blockquote>尽管阿里巴巴-SW的自由现金流正在加速增长并且手头拥有大量现金，但这对该公司的同行来说是一个巨大的折扣。由于阿里巴巴-SW是一家健康且不断增长的公司，该股的估值将变得更具吸引力。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6d76517c900c76b94c5bd4aaf02ec91a\" tg-width=\"640\" tg-height=\"226\" referrerpolicy=\"no-referrer\">source: Seeking Alpha</p><p><blockquote>资料来源：寻求阿尔法</blockquote></p><p> The company is estimated to continue growing revenues at a swift clip, approaching $210 billion in annual revenue over the next three years. If we apply the company's 24% conversion rate of revenue to FCF, that will give us 2024 FCF of $50 billion. In other words, an FCF yield of 8.6% on today's share price. This is simply something you don't often see for a company's stock growing so rapidly at such an already large size.</p><p><blockquote>预计该公司的收入将继续快速增长，未来三年收入将接近2100亿美元。如果我们将公司24%的收入转化率应用于FCF，那么2024年FCF将达到500亿美元。换句话说，按今天的股价计算，FCF收益率为8.6%。对于一家公司的股票在规模如此之大的情况下增长如此之快，这是你不常见到的。</blockquote></p><p> The stock is clearly being punished for some of the drama that Alibaba has faced over the past year and some of the current tension between the United States and China. This is a risk that investors need to keep in mind, as anything can happen, and Alibaba may become collateral damage of political conflict. However, if it becomes clear to the market that the outlook is promising, Alibaba could aggressively rerate. Even if Alibaba saw its FCF yield fall to around 3%, it would imply an upside in shares of 46%. This would put Alibaba at an enterprise value of more than $800 billion, but I believe those shoes the company could certainly fill.</p><p><blockquote>该股显然因阿里巴巴-SW过去一年面临的一些戏剧性事件以及当前中美之间的一些紧张局势而受到惩罚。这是投资者需要牢记的风险，因为任何事情都可能发生，阿里巴巴-SW可能成为政治冲突的附带损害。然而，如果市场清楚地看到前景看好，阿里巴巴-SW可能会大幅重新评级。即使阿里巴巴-SW的FCF收益率跌至3%左右，也意味着股价上涨46%。这将使阿里巴巴-SW的企业价值超过8000亿美元，但我相信该公司肯定可以填补这些空缺。</blockquote></p><p> <b>Wrapping Up</b></p><p><blockquote><b>包装</b></blockquote></p><p></p><p> Alibaba is a fantastic business that has been caught up in some political drama. Despite its size, the company is growing rapidly, is profitable, and generates tons of free cash flow. Investors cannot ignore the political risks, but the upside is tremendous for brave and patient investors.</p><p><blockquote>阿里巴巴-SW是一个奇妙的企业，却陷入了一些政治戏剧。尽管规模很大，但该公司发展迅速，盈利，并产生大量自由现金流。投资者不能忽视政治风险，但对于勇敢和耐心的投资者来说，上行空间是巨大的。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4434229-how-much-longer-will-alibaba-stay-cheap\">Seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://seekingalpha.com/article/4434229-how-much-longer-will-alibaba-stay-cheap","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180091968","content_text":"Summary\n\nDown over the past year, shares of Alibaba have not participated with the general rally in the markets.\nAlibaba is a strong business with accelerating free cash flow generation and a clean balance sheet. The company has deep pockets to continue growing.\nThe valuation that shares trade at is compressed, but seems poised to rebound. Fundamentals eventually steer the share price.\n\nE-commerce has been a powerful investing theme throughout the pandemic. While many stocks that sell over the internet have been thriving, Chinese conglomerate Alibaba Group Holding Limited (BABA) has been a notable laggard. Shares of Alibaba are in the red over the past year, while the S&P 500 has ripped higher, gaining 32%.\nAlibaba has been caught in some controversy surrounding thefailed IPOof Ant Group and its founderJack Ma. While the market has focused on these distractions, the actual underlying business of Alibaba is performing at a high level. With strong fundamentals and rapidly growing free cash flow, it's only a matter of time before the market begins to focus on what matters...the business. We will outline our investment thesis below.\nFree Cash Flow Growth Is Stellar\nAlibaba is a frequently covered business on Seeking Alpha, so I won't rehash the basics about the business or dive into the political controversy that has plagued the stock. Instead, I want to focus on the financial inflection point that Alibaba has recently hit.\nThe company ended its fiscal year at the end of March. What we see is a diversified business with several growing segments that align with macroeconomic trends.\nsource: Alibaba Group Holding Limited\nThe largest revenue contributor, of course, is the company's retail operations. While its commerce segment continues to narrate revenue growth (total core commerce grew 2020 revenues 42% versus company revenues growing 41%), some smaller segments are showing strong growth.\nFor example, Alibaba's cloud computing operations grew 50% in 2020, and its new retail and direct sales businesses grew 94% year-over-year. What is most promising is that Alibaba is accelerating its free cash flow growth in recent years. The company's $26.35 billion in 2021 FCF is a 29% year-over-year jump from 2020. Alibaba grew FCF 25% from 2019 to 2020.\nsource: Alibaba Holding Group Limited\nWith $72 billion in cash on hand as of March 31st and the business generating more than $26 billion in free cash flow, Alibaba has deep pockets to develop its growing business segments and seek out opportunities to create new growth with M&A or other developments.\nHow Long Can Alibaba Stay \"Cheap\"?\nIt's hard to understand just how beaten down Alibaba's stock is until you look at things from a free cash flow perspective. Alibaba is currently trading with an FCF yield approaching 6%. By comparison, the next highest FCF yield is Amazon (AMZN), with a yield of just 1.3%.\nsource: YCharts\nThis is a tremendous discount to Alibaba's peer group, despite the company accelerating FCF growth and having a ton of cash on hand. And because Alibaba is a healthy and growing company, the stock is poised to become even more attractively valued.\nsource: Seeking Alpha\nThe company is estimated to continue growing revenues at a swift clip, approaching $210 billion in annual revenue over the next three years. If we apply the company's 24% conversion rate of revenue to FCF, that will give us 2024 FCF of $50 billion. In other words, an FCF yield of 8.6% on today's share price. This is simply something you don't often see for a company's stock growing so rapidly at such an already large size.\nThe stock is clearly being punished for some of the drama that Alibaba has faced over the past year and some of the current tension between the United States and China. This is a risk that investors need to keep in mind, as anything can happen, and Alibaba may become collateral damage of political conflict. However, if it becomes clear to the market that the outlook is promising, Alibaba could aggressively rerate. Even if Alibaba saw its FCF yield fall to around 3%, it would imply an upside in shares of 46%. This would put Alibaba at an enterprise value of more than $800 billion, but I believe those shoes the company could certainly fill.\nWrapping Up\nAlibaba is a fantastic business that has been caught up in some political drama. Despite its size, the company is growing rapidly, is profitable, and generates tons of free cash flow. Investors cannot ignore the political risks, but the upside is tremendous for brave and patient investors.","news_type":1,"symbols_score_info":{"BABA":0.9,"09988":0.9}},"isVote":1,"tweetType":1,"viewCount":2062,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":323758336,"gmtCreate":1615380003525,"gmtModify":1703488133733,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"[微笑]&nbsp;[微笑]&nbsp;","listText":"[微笑]&nbsp;[微笑]&nbsp;","text":"[微笑] [微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/323758336","repostId":"2118093678","repostType":4,"isVote":1,"tweetType":1,"viewCount":1743,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":323904976,"gmtCreate":1615295756595,"gmtModify":1703486901847,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/323904976","repostId":"1110839214","repostType":4,"isVote":1,"tweetType":1,"viewCount":1923,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":329329885,"gmtCreate":1615210072847,"gmtModify":1703485695967,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"[呆住]&nbsp;[呆住]&nbsp;","listText":"[呆住]&nbsp;[呆住]&nbsp;","text":"[呆住] [呆住]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/329329885","repostId":"1176535165","repostType":4,"repost":{"id":"1176535165","kind":"news","pubTimestamp":1615209357,"share":"https://www.laohu8.com/m/news/1176535165?lang=zh_CN&edition=full","pubTime":"2021-03-08 21:15","market":"us","language":"en","title":"Financial Stocks Have Crushed Tech. The Trade Is Still Alive.<blockquote>金融股碾压了科技股。交易仍然活跃。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1176535165","media":"Barrons","summary":"The rally in financial stocks has been so strong that they have outperformed tech—the darling of the","content":"<p>The rally in financial stocks has been so strong that they have outperformed tech—the darling of the pandemic—since the bear-market low last March. Don’t expect that to end any time soon.</p><p><blockquote>自去年3月熊市低点以来，金融股的涨势如此强劲，以至于它们的表现优于科技股——疫情的宠儿。不要指望这种情况会很快结束。</blockquote></p><p> The price movements of almost allfinancial assets have reflected expectations for higher economic growth and inflation since September. Perhaps most importantly, interest rates have taken off, with opposite effects on the two sectors.</p><p><blockquote>自9月份以来，几乎所有金融资产的价格走势都反映了对经济增长和通胀上升的预期。也许最重要的是，利率已经起飞，对这两个行业产生了相反的影响。</blockquote></p><p> Banks lend more when the economy is healthier, and have to set aside less money to cover potential losses on loans. At the same time, each loan is more profitable iflong-term interest rates riserelative to short-term borrowing costs, as they have recently. Banks pay short-term rates for funds they get from depositors and in the money market, and lend that cash out at long-term rates, for periods of as much as 30 years,</p><p><blockquote>当经济更健康时，银行会放贷更多，并且必须留出更少的资金来弥补贷款的潜在损失。与此同时，如果长期利率相对于短期借贷成本上升（就像最近一样），每笔贷款的利润都会更高。银行为从储户和货币市场获得的资金支付短期利率，并以长期利率将现金贷出，期限长达30年，</blockquote></p><p> The same rise in rates—the yield on the 10-year Treasury note more than doubled since September—has eaten into the valuations of stocks, reducing the present, discounted value of money to be earned in the future.It is a particular problem for hot growth stocks, many of them in the tech sector, because most of their earnings are expected to come years from now.</p><p><blockquote>同样的利率上升——10年期国债收益率自9月份以来翻了一倍多——侵蚀了股票的估值，降低了未来可赚取的货币的当前贴现价值。对于热门成长型股票（其中许多属于科技行业）来说，这是一个特殊的问题，因为它们的大部分盈利预计将在几年后出现。</blockquote></p><p> Now, theFinancial Select Sector SPDR Fund(ticker: XLF) is up almost 90% since the low of the pandemic-induced bear market. TheTechnology Select Sector SPDR Fund(XLK) is up 82%.</p><p><blockquote>现在，金融精选行业SPDR基金（股票代码：XLF）自大流行引发的熊市低点以来已上涨近90%。科技精选行业SPDR基金(XLK)上涨82%。</blockquote></p><p> “Thanks to investors resetting their view on interest rates, there has been a swift and meaningful rotation out of technology stocks and into financials,” wrote Jason Goepfert, founder of Sundial Capital Research. In roughly the past year, the aggregate value of tech stocks has fallen to about five times that of financials, compared with 6.4 times.</p><p><blockquote>Sundial Capital Research创始人Jason Goepfert写道：“由于投资者重新调整了对利率的看法，科技股迅速而有意义地转向金融股。”大约在过去一年里，科技股的总价值已跌至金融股的五倍左右，而金融股的总价值为6.4倍。</blockquote></p><p> It isn’t too late to move into financial stocks.</p><p><blockquote>现在进入金融股还为时不晚。</blockquote></p><p> The economy is reopening, the government has spenttrillions of dollars to prop up growth, and many consumers and businesses are ready to spend. Prices for financial stocks reflect how they could benefit from all that, but several factors indicate the group may have more room to run.</p><p><blockquote>经济正在重新开放，政府已花费数万亿美元来支撑增长，许多消费者和企业已准备好支出。金融股的价格反映了它们如何从中受益，但几个因素表明该集团可能有更大的运行空间。</blockquote></p><p> First,many observers expect the 10-year Treasury yield to hit roughly 2% by year-end, a major positive for bank profitability. So long as the Federal Reserve doesn’t lift interest rates too high before the economy can handle it, loan volumes shouldn’t suffer. Earnings growth for financial companies in the S&amp;P 500 could be 12% in 2022 , according to FactSet data.</p><p><blockquote>首先，许多观察人士预计10年期国债收益率将在年底前达到2%左右，这对银行盈利能力来说是一个重大利好。只要美联储在经济能够承受之前不会将利率提高得太高，贷款量就不会受到影响。FactSet数据显示，2022年标普500金融公司的盈利增长可能达到12%。</blockquote></p><p> Plus, financial stocks’ valuations are low. Their ratios of stock prices to expected 2022 per-share earnings are 30% lower than for the average stock in the S&amp;P 500. Historically, financials trade at multiples in line with the index, according to research from RBC Capital Markets.</p><p><blockquote>另外，金融股的估值较低。他们的股价与2022年预期每股收益的比率比标普500的平均股票低30%。根据加拿大皇家银行资本市场的研究，从历史上看，金融股的交易倍数与该指数一致。</blockquote></p><p> The fact that a group of stocks is hot doesn’t disqualify it as one to buy.</p><p><blockquote>一组股票热门的事实并不意味着它失去了买入的资格。</blockquote></p><p></p>","source":"lsy1601382232898","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>Financial Stocks Have Crushed Tech. The Trade Is Still Alive.<blockquote>金融股碾压了科技股。交易仍然活跃。</blockquote></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\">\nFinancial Stocks Have Crushed Tech. The Trade Is Still Alive.<blockquote>金融股碾压了科技股。交易仍然活跃。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-08 21:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The rally in financial stocks has been so strong that they have outperformed tech—the darling of the pandemic—since the bear-market low last March. Don’t expect that to end any time soon.</p><p><blockquote>自去年3月熊市低点以来，金融股的涨势如此强劲，以至于它们的表现优于科技股——疫情的宠儿。不要指望这种情况会很快结束。</blockquote></p><p> The price movements of almost allfinancial assets have reflected expectations for higher economic growth and inflation since September. Perhaps most importantly, interest rates have taken off, with opposite effects on the two sectors.</p><p><blockquote>自9月份以来，几乎所有金融资产的价格走势都反映了对经济增长和通胀上升的预期。也许最重要的是，利率已经起飞，对这两个行业产生了相反的影响。</blockquote></p><p> Banks lend more when the economy is healthier, and have to set aside less money to cover potential losses on loans. At the same time, each loan is more profitable iflong-term interest rates riserelative to short-term borrowing costs, as they have recently. Banks pay short-term rates for funds they get from depositors and in the money market, and lend that cash out at long-term rates, for periods of as much as 30 years,</p><p><blockquote>当经济更健康时，银行会放贷更多，并且必须留出更少的资金来弥补贷款的潜在损失。与此同时，如果长期利率相对于短期借贷成本上升（就像最近一样），每笔贷款的利润都会更高。银行为从储户和货币市场获得的资金支付短期利率，并以长期利率将现金贷出，期限长达30年，</blockquote></p><p> The same rise in rates—the yield on the 10-year Treasury note more than doubled since September—has eaten into the valuations of stocks, reducing the present, discounted value of money to be earned in the future.It is a particular problem for hot growth stocks, many of them in the tech sector, because most of their earnings are expected to come years from now.</p><p><blockquote>同样的利率上升——10年期国债收益率自9月份以来翻了一倍多——侵蚀了股票的估值，降低了未来可赚取的货币的当前贴现价值。对于热门成长型股票（其中许多属于科技行业）来说，这是一个特殊的问题，因为它们的大部分盈利预计将在几年后出现。</blockquote></p><p> Now, theFinancial Select Sector SPDR Fund(ticker: XLF) is up almost 90% since the low of the pandemic-induced bear market. TheTechnology Select Sector SPDR Fund(XLK) is up 82%.</p><p><blockquote>现在，金融精选行业SPDR基金（股票代码：XLF）自大流行引发的熊市低点以来已上涨近90%。科技精选行业SPDR基金(XLK)上涨82%。</blockquote></p><p> “Thanks to investors resetting their view on interest rates, there has been a swift and meaningful rotation out of technology stocks and into financials,” wrote Jason Goepfert, founder of Sundial Capital Research. In roughly the past year, the aggregate value of tech stocks has fallen to about five times that of financials, compared with 6.4 times.</p><p><blockquote>Sundial Capital Research创始人Jason Goepfert写道：“由于投资者重新调整了对利率的看法，科技股迅速而有意义地转向金融股。”大约在过去一年里，科技股的总价值已跌至金融股的五倍左右，而金融股的总价值为6.4倍。</blockquote></p><p> It isn’t too late to move into financial stocks.</p><p><blockquote>现在进入金融股还为时不晚。</blockquote></p><p> The economy is reopening, the government has spenttrillions of dollars to prop up growth, and many consumers and businesses are ready to spend. Prices for financial stocks reflect how they could benefit from all that, but several factors indicate the group may have more room to run.</p><p><blockquote>经济正在重新开放，政府已花费数万亿美元来支撑增长，许多消费者和企业已准备好支出。金融股的价格反映了它们如何从中受益，但几个因素表明该集团可能有更大的运行空间。</blockquote></p><p> First,many observers expect the 10-year Treasury yield to hit roughly 2% by year-end, a major positive for bank profitability. So long as the Federal Reserve doesn’t lift interest rates too high before the economy can handle it, loan volumes shouldn’t suffer. Earnings growth for financial companies in the S&amp;P 500 could be 12% in 2022 , according to FactSet data.</p><p><blockquote>首先，许多观察人士预计10年期国债收益率将在年底前达到2%左右，这对银行盈利能力来说是一个重大利好。只要美联储在经济能够承受之前不会将利率提高得太高，贷款量就不会受到影响。FactSet数据显示，2022年标普500金融公司的盈利增长可能达到12%。</blockquote></p><p> Plus, financial stocks’ valuations are low. Their ratios of stock prices to expected 2022 per-share earnings are 30% lower than for the average stock in the S&amp;P 500. Historically, financials trade at multiples in line with the index, according to research from RBC Capital Markets.</p><p><blockquote>另外，金融股的估值较低。他们的股价与2022年预期每股收益的比率比标普500的平均股票低30%。根据加拿大皇家银行资本市场的研究，从历史上看，金融股的交易倍数与该指数一致。</blockquote></p><p> The fact that a group of stocks is hot doesn’t disqualify it as one to buy.</p><p><blockquote>一组股票热门的事实并不意味着它失去了买入的资格。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/financial-stocks-have-crushed-tech-the-trade-is-still-alive-51615206612?mod=hp_LEADSUPP_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/financial-stocks-have-crushed-tech-the-trade-is-still-alive-51615206612?mod=hp_LEADSUPP_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176535165","content_text":"The rally in financial stocks has been so strong that they have outperformed tech—the darling of the pandemic—since the bear-market low last March. Don’t expect that to end any time soon.\nThe price movements of almost allfinancial assets have reflected expectations for higher economic growth and inflation since September. Perhaps most importantly, interest rates have taken off, with opposite effects on the two sectors.\nBanks lend more when the economy is healthier, and have to set aside less money to cover potential losses on loans. At the same time, each loan is more profitable iflong-term interest rates riserelative to short-term borrowing costs, as they have recently. Banks pay short-term rates for funds they get from depositors and in the money market, and lend that cash out at long-term rates, for periods of as much as 30 years,\nThe same rise in rates—the yield on the 10-year Treasury note more than doubled since September—has eaten into the valuations of stocks, reducing the present, discounted value of money to be earned in the future.It is a particular problem for hot growth stocks, many of them in the tech sector, because most of their earnings are expected to come years from now.\nNow, theFinancial Select Sector SPDR Fund(ticker: XLF) is up almost 90% since the low of the pandemic-induced bear market. TheTechnology Select Sector SPDR Fund(XLK) is up 82%.\n“Thanks to investors resetting their view on interest rates, there has been a swift and meaningful rotation out of technology stocks and into financials,” wrote Jason Goepfert, founder of Sundial Capital Research. In roughly the past year, the aggregate value of tech stocks has fallen to about five times that of financials, compared with 6.4 times.\nIt isn’t too late to move into financial stocks.\nThe economy is reopening, the government has spenttrillions of dollars to prop up growth, and many consumers and businesses are ready to spend. Prices for financial stocks reflect how they could benefit from all that, but several factors indicate the group may have more room to run.\nFirst,many observers expect the 10-year Treasury yield to hit roughly 2% by year-end, a major positive for bank profitability. So long as the Federal Reserve doesn’t lift interest rates too high before the economy can handle it, loan volumes shouldn’t suffer. Earnings growth for financial companies in the S&P 500 could be 12% in 2022 , according to FactSet data.\nPlus, financial stocks’ valuations are low. Their ratios of stock prices to expected 2022 per-share earnings are 30% lower than for the average stock in the S&P 500. Historically, financials trade at multiples in line with the index, according to research from RBC Capital Markets.\nThe fact that a group of stocks is hot doesn’t disqualify it as one to buy.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":4014,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":320210347,"gmtCreate":1615112151189,"gmtModify":1703484801896,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Ooo","listText":"Ooo","text":"Ooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/320210347","repostId":"1169596583","repostType":4,"repost":{"id":"1169596583","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614958557,"share":"https://www.laohu8.com/m/news/1169596583?lang=zh_CN&edition=full","pubTime":"2021-03-05 23:35","market":"us","language":"en","title":"Palantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169596583","media":"老虎资讯综合","summary":"(March 5)&nbsp;Palantir plunged more than 13%.","content":"<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><blockquote>（3月5日）Palantir暴跌超13%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></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>Palantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote></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\">\nPalantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote>\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\">2021-03-05 23:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><blockquote>（3月5日）Palantir暴跌超13%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169596583","content_text":"(March 5) Palantir plunged more than 13%.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":267,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320983059,"gmtCreate":1614999508171,"gmtModify":1703484106705,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"[微笑]&nbsp;[微笑]&nbsp;","listText":"[微笑]&nbsp;[微笑]&nbsp;","text":"[微笑] [微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/320983059","repostId":"1169596583","repostType":4,"repost":{"id":"1169596583","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614958557,"share":"https://www.laohu8.com/m/news/1169596583?lang=zh_CN&edition=full","pubTime":"2021-03-05 23:35","market":"us","language":"en","title":"Palantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169596583","media":"老虎资讯综合","summary":"(March 5)&nbsp;Palantir plunged more than 13%.","content":"<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><blockquote>（3月5日）Palantir暴跌超13%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></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>Palantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote></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\">\nPalantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote>\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\">2021-03-05 23:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><blockquote>（3月5日）Palantir暴跌超13%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169596583","content_text":"(March 5) Palantir plunged more than 13%.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":861,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":367217230,"gmtCreate":1614954144620,"gmtModify":1703483408098,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Nice!&nbsp;","listText":"Nice!&nbsp;","text":"Nice!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/367217230","repostId":"2117950085","repostType":4,"isVote":1,"tweetType":1,"viewCount":292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364520036,"gmtCreate":1614865751425,"gmtModify":1703482181982,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Comment pls&nbsp;","listText":"Comment pls&nbsp;","text":"Comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/364520036","repostId":"1191360281","repostType":4,"repost":{"id":"1191360281","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614864862,"share":"https://www.laohu8.com/m/news/1191360281?lang=zh_CN&edition=full","pubTime":"2021-03-04 21:34","market":"us","language":"en","title":"U.S. weekly jobless claims total 745,000, less than expected<blockquote>美国周度初请失业金人数总计74.5万人不及预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1191360281","media":"老虎资讯综合","summary":"(March 4) U.S. weekly jobless claims total 745,000, vs 750,000 estimate.Initial jobless claims, week","content":"<p>(March 4)&nbsp;U.S. weekly jobless claims total 745,000, vs 750,000 estimate.</p><p><blockquote>（3月4日）美国。每周申请失业救济人数总计745,000人，而预期为750,000人。</blockquote></p><p><ul><li><b>Initial jobless claims, week ended February 27:</b>750,000 expected vs. 730,000 during the prior week</p><p><blockquote><ul><li><b>截至2月27日当周首次申请失业救济人数：</b>预期为750,000人，前一周为730,000人</li></ul></blockquote></p><p></li><li><b>Continuing claims, week ended February 20:</b>4.300 million expected vs. 4.419 million during the prior week</p><p><blockquote><li><b>截至2月20日当周的持续索赔：</b>预期为430万，前一周为441.9万</li></blockquote></p><p></li></ul>Initial jobless claims sank far more than expected last week, though at least some of the drop appeared to have stemmed from data collection issues due to the extreme winter weather blanketing the country mid-month. Still, new jobless claims are expected to tick up only modestly after last week's pronounced drop, suggesting some underlying improvements in unemployment trends.</p><p><blockquote>上周首次申请失业救济人数的下降幅度远超预期，尽管至少部分下降似乎源于月中覆盖全国的极端冬季天气导致的数据收集问题。尽管如此，新申请失业救济人数在上周大幅下降后预计只会小幅上升，这表明失业趋势有所改善。</blockquote></p><p>But at the same time, jobless claims remain multiples above levels from before the COVID-19 pandemic, when new claims were averaging just over 200,000 per week. Returning to pre-pandemic levels of employment is likely to depend heavily on the pace of business reopenings, and consumers' propensity to return to service-centric activities most deeply affected by stay-in-place orders, many economists have noted.</p><p><blockquote>但与此同时，申请失业救济人数仍比COVID-19大流行之前的水平高出数倍，当时平均每周新申请失业救济人数略高于20万人。许多经济学家指出，恢复到大流行前的就业水平可能在很大程度上取决于企业重新开业的速度，以及消费者回归受留在原地订单影响最深的以服务为中心的活动的倾向。</blockquote></p><p>\"I think consumers are ready to spend more on services. They’re ready to travel, they’re ready to go out to restaurants. So I would expected we see very strong services job growth as we get towards the middle of 2021,\" Gus Faucher, PNC chief economist, told Yahoo Finance Live on Wednesday. \"And we’ll make a serious dent in the labor market, and I would expect that we’ll be back to our pre-pandemic level of employment sometime in the second half of 2022.\"</p><p><blockquote>PNC首席经济学家Gus Faucher周三对雅虎财经直播表示：“我认为消费者已经准备好在服务上花费更多。他们已经准备好旅行，他们已经准备好去餐馆。所以我预计，随着2021年中期，我们将看到非常强劲的服务业就业增长。”“我们将对劳动力市场造成严重影响，我预计我们将在2022年下半年的某个时候恢复到大流行前的就业水平。”</blockquote></p><p><img src=\"https://static.tigerbbs.com/cc603a37bb03f493aec799f3a97088c7\" tg-width=\"603\" tg-height=\"423\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Continuing jobless claims, which are reported on a one-week lag and measure the total number of individuals still receiving regular state unemployment benefits, are expected to decline for a seventh consecutive week.</p><p><blockquote>持续申请失业救济人数预计将连续第七周下降，该数据滞后一周，衡量仍在领取常规州失业救济金的总人数。</blockquote></p><p>But the number of Americans claiming unemployment benefits across all programs remains sharply elevated: Some 19 million Americans were still claiming benefits across all programs as of February 6, the latest date for which data is available. That included more than 12.5 million Americans on Pandemic Unemployment Assistance — the federal program offering benefits to gig workers and the self-employed who do not qualify for other programs — and Pandemic Emergency Unemployment Compensation, which offers additional up to 24 weeks of benefits.</p><p><blockquote>但在所有项目中申领失业救济金的美国人数仍然大幅上升：截至2月6日（可获得数据的最新日期），仍有约1900万美国人在所有项目中申领失业救济金。其中包括超过1250万美国人领取大流行失业援助（该联邦计划为没有资格享受其他计划的临时工和个体户提供福利）和大流行紧急失业补偿，该计划提供长达24周的额外福利。</blockquote></p><p>This week, the U.S. Senate is debating another $1.9 trillion coronavirus relief package, which was passed by the U.S. House of Representatives last weekend. This package would include measures extending federal unemployment benefits beyond their current March 14 expiration date. Senator Ron Wyden (D., Ore.), chairman of the Senate Finance Committee,said Tuesday that he was leading Senate Democratsin pushing for the package to include an automatic extension of unemployment benefits based on economic conditions, which would remove additional unemployment benefit cliffs going forward.</p><p><blockquote>本周，美国。参议院正在辩论另一项1.9万亿美元的冠状病毒救助计划，该计划于上周末由美国众议院通过。该计划将包括将联邦失业救济金延长至目前3月14日到期日之后的措施。俄勒冈州民主党参议员罗恩·怀登。参议院财政委员会主席周二表示，他正在领导参议院民主党人推动该计划，其中包括根据经济状况自动延长失业救济金，这将消除未来额外的失业救济金悬崖。</blockquote></p><p></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. weekly jobless claims total 745,000, less than expected<blockquote>美国周度初请失业金人数总计74.5万人不及预期</blockquote></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. weekly jobless claims total 745,000, less than expected<blockquote>美国周度初请失业金人数总计74.5万人不及预期</blockquote>\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\">2021-03-04 21:34</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(March 4)&nbsp;U.S. weekly jobless claims total 745,000, vs 750,000 estimate.</p><p><blockquote>（3月4日）美国。每周申请失业救济人数总计745,000人，而预期为750,000人。</blockquote></p><p><ul><li><b>Initial jobless claims, week ended February 27:</b>750,000 expected vs. 730,000 during the prior week</p><p><blockquote><ul><li><b>截至2月27日当周首次申请失业救济人数：</b>预期为750,000人，前一周为730,000人</li></ul></blockquote></p><p></li><li><b>Continuing claims, week ended February 20:</b>4.300 million expected vs. 4.419 million during the prior week</p><p><blockquote><li><b>截至2月20日当周的持续索赔：</b>预期为430万，前一周为441.9万</li></blockquote></p><p></li></ul>Initial jobless claims sank far more than expected last week, though at least some of the drop appeared to have stemmed from data collection issues due to the extreme winter weather blanketing the country mid-month. Still, new jobless claims are expected to tick up only modestly after last week's pronounced drop, suggesting some underlying improvements in unemployment trends.</p><p><blockquote>上周首次申请失业救济人数的下降幅度远超预期，尽管至少部分下降似乎源于月中覆盖全国的极端冬季天气导致的数据收集问题。尽管如此，新申请失业救济人数在上周大幅下降后预计只会小幅上升，这表明失业趋势有所改善。</blockquote></p><p>But at the same time, jobless claims remain multiples above levels from before the COVID-19 pandemic, when new claims were averaging just over 200,000 per week. Returning to pre-pandemic levels of employment is likely to depend heavily on the pace of business reopenings, and consumers' propensity to return to service-centric activities most deeply affected by stay-in-place orders, many economists have noted.</p><p><blockquote>但与此同时，申请失业救济人数仍比COVID-19大流行之前的水平高出数倍，当时平均每周新申请失业救济人数略高于20万人。许多经济学家指出，恢复到大流行前的就业水平可能在很大程度上取决于企业重新开业的速度，以及消费者回归受留在原地订单影响最深的以服务为中心的活动的倾向。</blockquote></p><p>\"I think consumers are ready to spend more on services. They’re ready to travel, they’re ready to go out to restaurants. So I would expected we see very strong services job growth as we get towards the middle of 2021,\" Gus Faucher, PNC chief economist, told Yahoo Finance Live on Wednesday. \"And we’ll make a serious dent in the labor market, and I would expect that we’ll be back to our pre-pandemic level of employment sometime in the second half of 2022.\"</p><p><blockquote>PNC首席经济学家Gus Faucher周三对雅虎财经直播表示：“我认为消费者已经准备好在服务上花费更多。他们已经准备好旅行，他们已经准备好去餐馆。所以我预计，随着2021年中期，我们将看到非常强劲的服务业就业增长。”“我们将对劳动力市场造成严重影响，我预计我们将在2022年下半年的某个时候恢复到大流行前的就业水平。”</blockquote></p><p><img src=\"https://static.tigerbbs.com/cc603a37bb03f493aec799f3a97088c7\" tg-width=\"603\" tg-height=\"423\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Continuing jobless claims, which are reported on a one-week lag and measure the total number of individuals still receiving regular state unemployment benefits, are expected to decline for a seventh consecutive week.</p><p><blockquote>持续申请失业救济人数预计将连续第七周下降，该数据滞后一周，衡量仍在领取常规州失业救济金的总人数。</blockquote></p><p>But the number of Americans claiming unemployment benefits across all programs remains sharply elevated: Some 19 million Americans were still claiming benefits across all programs as of February 6, the latest date for which data is available. That included more than 12.5 million Americans on Pandemic Unemployment Assistance — the federal program offering benefits to gig workers and the self-employed who do not qualify for other programs — and Pandemic Emergency Unemployment Compensation, which offers additional up to 24 weeks of benefits.</p><p><blockquote>但在所有项目中申领失业救济金的美国人数仍然大幅上升：截至2月6日（可获得数据的最新日期），仍有约1900万美国人在所有项目中申领失业救济金。其中包括超过1250万美国人领取大流行失业援助（该联邦计划为没有资格享受其他计划的临时工和个体户提供福利）和大流行紧急失业补偿，该计划提供长达24周的额外福利。</blockquote></p><p>This week, the U.S. Senate is debating another $1.9 trillion coronavirus relief package, which was passed by the U.S. House of Representatives last weekend. This package would include measures extending federal unemployment benefits beyond their current March 14 expiration date. Senator Ron Wyden (D., Ore.), chairman of the Senate Finance Committee,said Tuesday that he was leading Senate Democratsin pushing for the package to include an automatic extension of unemployment benefits based on economic conditions, which would remove additional unemployment benefit cliffs going forward.</p><p><blockquote>本周，美国。参议院正在辩论另一项1.9万亿美元的冠状病毒救助计划，该计划于上周末由美国众议院通过。该计划将包括将联邦失业救济金延长至目前3月14日到期日之后的措施。俄勒冈州民主党参议员罗恩·怀登。参议院财政委员会主席周二表示，他正在领导参议院民主党人推动该计划，其中包括根据经济状况自动延长失业救济金，这将消除未来额外的失业救济金悬崖。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/15e20574f8fb568333181d61bb200086","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191360281","content_text":"(March 4) U.S. weekly jobless claims total 745,000, vs 750,000 estimate.Initial jobless claims, week ended February 27:750,000 expected vs. 730,000 during the prior weekContinuing claims, week ended February 20:4.300 million expected vs. 4.419 million during the prior weekInitial jobless claims sank far more than expected last week, though at least some of the drop appeared to have stemmed from data collection issues due to the extreme winter weather blanketing the country mid-month. Still, new jobless claims are expected to tick up only modestly after last week's pronounced drop, suggesting some underlying improvements in unemployment trends.But at the same time, jobless claims remain multiples above levels from before the COVID-19 pandemic, when new claims were averaging just over 200,000 per week. Returning to pre-pandemic levels of employment is likely to depend heavily on the pace of business reopenings, and consumers' propensity to return to service-centric activities most deeply affected by stay-in-place orders, many economists have noted.\"I think consumers are ready to spend more on services. They’re ready to travel, they’re ready to go out to restaurants. So I would expected we see very strong services job growth as we get towards the middle of 2021,\" Gus Faucher, PNC chief economist, told Yahoo Finance Live on Wednesday. \"And we’ll make a serious dent in the labor market, and I would expect that we’ll be back to our pre-pandemic level of employment sometime in the second half of 2022.\"Continuing jobless claims, which are reported on a one-week lag and measure the total number of individuals still receiving regular state unemployment benefits, are expected to decline for a seventh consecutive week.But the number of Americans claiming unemployment benefits across all programs remains sharply elevated: Some 19 million Americans were still claiming benefits across all programs as of February 6, the latest date for which data is available. That included more than 12.5 million Americans on Pandemic Unemployment Assistance — the federal program offering benefits to gig workers and the self-employed who do not qualify for other programs — and Pandemic Emergency Unemployment Compensation, which offers additional up to 24 weeks of benefits.This week, the U.S. Senate is debating another $1.9 trillion coronavirus relief package, which was passed by the U.S. House of Representatives last weekend. This package would include measures extending federal unemployment benefits beyond their current March 14 expiration date. Senator Ron Wyden (D., Ore.), chairman of the Senate Finance Committee,said Tuesday that he was leading Senate Democratsin pushing for the package to include an automatic extension of unemployment benefits based on economic conditions, which would remove additional unemployment benefit cliffs going forward.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":494,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365451696,"gmtCreate":1614773966915,"gmtModify":1703480923062,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/365451696","repostId":"1144010843","repostType":4,"repost":{"id":"1144010843","kind":"news","pubTimestamp":1614773291,"share":"https://www.laohu8.com/m/news/1144010843?lang=zh_CN&edition=full","pubTime":"2021-03-03 20:08","market":"us","language":"en","title":"SPACs are now a $700 billion market: Morning Brief<blockquote>SPAC现在是一个7000亿美元的市场：早间简报</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1144010843","media":"yahoo","summary":"Goldman Sachs puts the SPAC boom in context.\nLate last year, we wrote aboutDavid Kostin's equity str","content":"<p>Goldman Sachs puts the SPAC boom in context.</p><p><blockquote>高盛将SPAC的繁荣置于背景中。</blockquote></p><p> Late last year, we wrote aboutDavid Kostin's equity strategy team at Goldman Sachs declaring2020 the year of the SPAC.</p><p><blockquote>去年年底，我们报道了高盛David Kostin的股票策略团队宣布2020年为SPAC年。</blockquote></p><p> In the few months since this report, the trend has only accelerated.</p><p><blockquote>自这份报告发布以来的几个月里，这一趋势只会加速。</blockquote></p><p> Kostin's team on Monday published their latest update on the space and the torrid pace with which these vehicles are coming to market.</p><p><blockquote>科斯汀的团队周一发布了有关该领域以及这些车辆上市速度的最新动态。</blockquote></p><p> And torrid might be an understatement.</p><p><blockquote>炎热可能是一种保守的说法。</blockquote></p><p> Through February 26, some 175 SPAC sponsors have debuted on the public market raising a total of $56 billion. In all of 2020 — a record year for SPAC IPOs — some 223 SPAC sponsors came to market.</p><p><blockquote>截至2月26日，约175家SPAC保荐人已在公开市场首次亮相，筹集了总计560亿美元的资金。2020年全年——SPAC IPO创纪录的一年——约有223家SPAC保荐人上市。</blockquote></p><p> Data fromSPAC Insider showsthat through Tuesday, some 204 SPAC IPOs had come to market; on Tuesday alone, no fewer than 12 SPACs were announced,according to data from Street Insider. At this rate, 2020's record year for SPACs might be eclipsed by week end. SPAC Insider data shows that from 2009-2019, there were 226 total SPAC IPOs.</p><p><blockquote>SPAC Insider的数据显示，截至周二，约有204起SPAC IPO上市；根据Street Insider的数据，仅在周二，就有不少于12家SPAC宣布成立。按照这个速度，2020年SPAC创纪录的一年可能会在本周末黯然失色。SPAC内幕数据显示，2009-2019年，SPAC IPO总数为226起。</blockquote></p><p> As a quick reminder, SPAC is an acronym that stands for Special Purpose Acquisition Company, often referred to as a \"blank check\" company. These are publicly-listed entities with shares that don't represent claims on the business of an underlying company, but instead reflect an ownership stake in a pool of capital that will later be deployed to acquire an existing business.</p><p><blockquote>快速提醒一下，SPAC是特殊目的收购公司的缩写，通常被称为“空白支票”公司。这些是公开上市实体，其股份并不代表对基础公司业务的债权，而是反映了资本池的所有权股份，这些资本池稍后将用于收购现有业务。</blockquote></p><p> Back in January, we looked atSPACs as another micro-bubble, the likes of which have perked up in markets several times over the last few years. Goldman's data, however, shows that the capital behind these vehicles represents a much more potent market dynamic than speculative flows into 2017-era crypto projects or pot stocks.</p><p><blockquote>早在一月份，我们就将ATSPAC视为另一个微泡沫，在过去几年中，此类泡沫已在市场上多次活跃。然而，高盛的数据显示，这些工具背后的资本代表着比投机性流入2017年时代的加密项目或大麻股票更强大的市场动态。</blockquote></p><p> \"SPACs could generate more than $700 billion in acquisition activity in the next two years,\" Goldman writes.<b>\"</b>We estimate $103 billion in SPAC capital is actively searching for an acquisition target. The aggregate ratio of target enterprise value at merger announcement to associated SPAC capital has been 7x this year, a jump from 6x in 2020 and just 3x during the 2010s. If the YTD ratio were to hold, SPACs would acquire firms worth more than $700 billion of [enterprise value].\"</p><p><blockquote>高盛写道：“未来两年，SPAC可能会产生超过7000亿美元的收购活动。”<b>\"</b>我们估计1030亿美元的SPAC capital正在积极寻找收购目标。合并公告时目标企业价值与相关SPAC资本的总比率今年为7倍，较2020年的6倍跃升，而2010年代仅为3倍。如果年初至今的比率保持不变，SPAC将收购价值超过7000亿美元[企业价值]的公司。”</blockquote></p><p> Given interest from clients and the broader markets, we'd expect Kostin and team to stay on this theme. And the chart below gives us the simplest way to think about what an implied value of the SPAC universe might be — just take the total amount of SPAC capital seeking an acquisition and multiply it by 7.</p><p><blockquote>鉴于客户和更广泛市场的兴趣，我们希望Kostin和团队继续关注这一主题。下图为我们提供了思考SPAC宇宙隐含价值的最简单方法——只需将寻求收购的SPAC资本总额乘以7即可。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0578fbffa1689f060fafe95fb699bb08\" tg-width=\"705\" tg-height=\"481\" referrerpolicy=\"no-referrer\">There is currently more than $100 billion of SPAC capital seeking an acquisition, and at current deal multiples this implies some $700 billion of potential value could be unlocked by these deals. (Source: Goldman Sachs)</p><p><blockquote>目前有超过1000亿美元的SPAC资本寻求收购，按照目前的交易倍数，这意味着这些交易可以释放约7000亿美元的潜在价值。（资料来源：高盛）</blockquote></p><p> And while multiples on SPAC deals are going up, Goldman also finds that the value of companies taken public via this channel are rising as is the speed with which sponsors are deploying their capital.</p><p><blockquote>虽然SPAC交易的市盈率正在上升，但高盛还发现，通过这一渠道上市的公司的价值也在上升，保荐人部署资本的速度也在上升。</blockquote></p><p> So far this year, the average value of a company set to be taken public via SPAC is $2.9 billion, up from $1.7 billion last year and ~$800 million last decade, according to Goldman's data. Sponsors are also finding targets 175 days after their IPO, less than half the time sponsors spent searching in 2020 and down from an average of 487 days in the 2010s.</p><p><blockquote>高盛的数据显示，今年到目前为止，通过SPAC上市的公司的平均价值为29亿美元，高于去年的17亿美元和过去十年的约8亿美元。保荐人也在IPO后175天找到了目标，这不到2020年保荐人搜索时间的一半，也低于2010年代的平均487天。</blockquote></p><p> <b>What to know today</b></p><p><blockquote><b>今天要知道什么</b></blockquote></p><p> <b>Economy</b></p><p><blockquote><b>经济</b></blockquote></p><p> <ul>  <li>7:00 a.m. ET:<b>MBA Mortgage Applications,</b>week ended February 26 (-11.4% during prior week)</li>  <li>8:15 a.m. ET:<b>ADP Employment Change,</b>February (200,000 expected, 174,000 in January)</li>  <li>9:45 a.m. ET:<b>Markit US Composite PMI,</b>February final (58.8 in prior print)</li>  <li>9:45 a.m. ET:<b>Markit US Services PMI,</b>February final (58.9 expected, 58.9 in prior print)</li>  <li>10:00 a.m. ET:<b>ISM Services Index,</b>February (58.7 expected, 58.7 in January)</li>  <li>2:00 p.m. ET:<b>Federal Reserve releases Beige Book</b></li> </ul> <b>Earnings</b></p><p><blockquote><ul><li>美国东部时间上午7:00：<b>MBA抵押贷款申请，</b>截至2月26日的一周（前一周为-11.4%）</li><li>美国东部时间上午8:15：<b>ADP就业变化，</b>2月（预计20万，1月17.4万）</li><li>美国东部时间上午9:45：<b>Markit美国综合PMI，</b>二月决赛（之前印刷为58.8）</li><li>美国东部时间上午9:45：<b>Markit美国服务业PMI，</b>2月最终版（预期为58.9，之前版本为58.9）</li><li>美国东部时间上午10:00：<b>ISM服务业指数，</b>2月（预期58.7，1月58.7）</li><li>下午2:00 ET：<b>美联储发布褐皮书</b></li></ul><b>收入</b></blockquote></p><p> <b>Pre-market</b></p><p><blockquote><b>上市前</b></blockquote></p><p> <ul>  <li>7:30 a.m. ET:<b>Dollar Tree (DLTR)</b>is expected to report adjusted earnings of $2.11 per share on revenue of $6.81 billion</li> </ul> <b>Post-market</b></p><p><blockquote><ul><li>美国东部时间上午7:30：<b>美元树(DLTR)</b>预计调整后每股收益为2.11美元，营收为68.1亿美元</li></ul><b>上市后</b></blockquote></p><p> <ul>  <li>4:00 p.m. ET:<b>Splunk (SPLK)</b>is expected to report adjusted earnings of 3 cents per share on revenue of $677.81 million</li>  <li>4:00 p.m. ET:<b>Okta (OKTA)</b>is expected to report an adjusted loss of 1 cent per share on revenue of $222.05 million</li>  <li>4:00 p.m. ET:<b>Snowflake (SNOW)</b>is expected to report an adjusted loss of 17 cents per share on revenue of $178.55 million</li>  <li>4:05 p.m. ET:<b>Vroom Inc (VRM)</b>is expected to report an adjusted loss of 37 cents per share on revenue of $401.85 million</li> </ul></p><p><blockquote><ul><li>下午4:00 ET：<b>Splunk(SPLK)</b>预计调整后每股收益为3美分，营收为6.7781亿美元</li><li>下午4:00 ET：<b>奥克塔（奥克塔）</b>预计调整后每股亏损1美分，营收为2.2205亿美元</li><li>下午4:00 ET：<b>雪花（雪）</b>预计调整后每股亏损17美分，营收为1.7855亿美元</li><li>下午4:05 ET：<b>轰鸣公司(VRM)</b>预计调整后每股亏损37美分，营收为4.0185亿美元</li></ul></blockquote></p><p></p>","source":"lsy1584348713084","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>SPACs are now a $700 billion market: Morning Brief<blockquote>SPAC现在是一个7000亿美元的市场：早间简报</blockquote></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\">\nSPACs are now a $700 billion market: Morning Brief<blockquote>SPAC现在是一个7000亿美元的市场：早间简报</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">yahoo</strong><span class=\"h-time small\">2021-03-03 20:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Goldman Sachs puts the SPAC boom in context.</p><p><blockquote>高盛将SPAC的繁荣置于背景中。</blockquote></p><p> Late last year, we wrote aboutDavid Kostin's equity strategy team at Goldman Sachs declaring2020 the year of the SPAC.</p><p><blockquote>去年年底，我们报道了高盛David Kostin的股票策略团队宣布2020年为SPAC年。</blockquote></p><p> In the few months since this report, the trend has only accelerated.</p><p><blockquote>自这份报告发布以来的几个月里，这一趋势只会加速。</blockquote></p><p> Kostin's team on Monday published their latest update on the space and the torrid pace with which these vehicles are coming to market.</p><p><blockquote>科斯汀的团队周一发布了有关该领域以及这些车辆上市速度的最新动态。</blockquote></p><p> And torrid might be an understatement.</p><p><blockquote>炎热可能是一种保守的说法。</blockquote></p><p> Through February 26, some 175 SPAC sponsors have debuted on the public market raising a total of $56 billion. In all of 2020 — a record year for SPAC IPOs — some 223 SPAC sponsors came to market.</p><p><blockquote>截至2月26日，约175家SPAC保荐人已在公开市场首次亮相，筹集了总计560亿美元的资金。2020年全年——SPAC IPO创纪录的一年——约有223家SPAC保荐人上市。</blockquote></p><p> Data fromSPAC Insider showsthat through Tuesday, some 204 SPAC IPOs had come to market; on Tuesday alone, no fewer than 12 SPACs were announced,according to data from Street Insider. At this rate, 2020's record year for SPACs might be eclipsed by week end. SPAC Insider data shows that from 2009-2019, there were 226 total SPAC IPOs.</p><p><blockquote>SPAC Insider的数据显示，截至周二，约有204起SPAC IPO上市；根据Street Insider的数据，仅在周二，就有不少于12家SPAC宣布成立。按照这个速度，2020年SPAC创纪录的一年可能会在本周末黯然失色。SPAC内幕数据显示，2009-2019年，SPAC IPO总数为226起。</blockquote></p><p> As a quick reminder, SPAC is an acronym that stands for Special Purpose Acquisition Company, often referred to as a \"blank check\" company. These are publicly-listed entities with shares that don't represent claims on the business of an underlying company, but instead reflect an ownership stake in a pool of capital that will later be deployed to acquire an existing business.</p><p><blockquote>快速提醒一下，SPAC是特殊目的收购公司的缩写，通常被称为“空白支票”公司。这些是公开上市实体，其股份并不代表对基础公司业务的债权，而是反映了资本池的所有权股份，这些资本池稍后将用于收购现有业务。</blockquote></p><p> Back in January, we looked atSPACs as another micro-bubble, the likes of which have perked up in markets several times over the last few years. Goldman's data, however, shows that the capital behind these vehicles represents a much more potent market dynamic than speculative flows into 2017-era crypto projects or pot stocks.</p><p><blockquote>早在一月份，我们就将ATSPAC视为另一个微泡沫，在过去几年中，此类泡沫已在市场上多次活跃。然而，高盛的数据显示，这些工具背后的资本代表着比投机性流入2017年时代的加密项目或大麻股票更强大的市场动态。</blockquote></p><p> \"SPACs could generate more than $700 billion in acquisition activity in the next two years,\" Goldman writes.<b>\"</b>We estimate $103 billion in SPAC capital is actively searching for an acquisition target. The aggregate ratio of target enterprise value at merger announcement to associated SPAC capital has been 7x this year, a jump from 6x in 2020 and just 3x during the 2010s. If the YTD ratio were to hold, SPACs would acquire firms worth more than $700 billion of [enterprise value].\"</p><p><blockquote>高盛写道：“未来两年，SPAC可能会产生超过7000亿美元的收购活动。”<b>\"</b>我们估计1030亿美元的SPAC capital正在积极寻找收购目标。合并公告时目标企业价值与相关SPAC资本的总比率今年为7倍，较2020年的6倍跃升，而2010年代仅为3倍。如果年初至今的比率保持不变，SPAC将收购价值超过7000亿美元[企业价值]的公司。”</blockquote></p><p> Given interest from clients and the broader markets, we'd expect Kostin and team to stay on this theme. And the chart below gives us the simplest way to think about what an implied value of the SPAC universe might be — just take the total amount of SPAC capital seeking an acquisition and multiply it by 7.</p><p><blockquote>鉴于客户和更广泛市场的兴趣，我们希望Kostin和团队继续关注这一主题。下图为我们提供了思考SPAC宇宙隐含价值的最简单方法——只需将寻求收购的SPAC资本总额乘以7即可。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0578fbffa1689f060fafe95fb699bb08\" tg-width=\"705\" tg-height=\"481\" referrerpolicy=\"no-referrer\">There is currently more than $100 billion of SPAC capital seeking an acquisition, and at current deal multiples this implies some $700 billion of potential value could be unlocked by these deals. (Source: Goldman Sachs)</p><p><blockquote>目前有超过1000亿美元的SPAC资本寻求收购，按照目前的交易倍数，这意味着这些交易可以释放约7000亿美元的潜在价值。（资料来源：高盛）</blockquote></p><p> And while multiples on SPAC deals are going up, Goldman also finds that the value of companies taken public via this channel are rising as is the speed with which sponsors are deploying their capital.</p><p><blockquote>虽然SPAC交易的市盈率正在上升，但高盛还发现，通过这一渠道上市的公司的价值也在上升，保荐人部署资本的速度也在上升。</blockquote></p><p> So far this year, the average value of a company set to be taken public via SPAC is $2.9 billion, up from $1.7 billion last year and ~$800 million last decade, according to Goldman's data. Sponsors are also finding targets 175 days after their IPO, less than half the time sponsors spent searching in 2020 and down from an average of 487 days in the 2010s.</p><p><blockquote>高盛的数据显示，今年到目前为止，通过SPAC上市的公司的平均价值为29亿美元，高于去年的17亿美元和过去十年的约8亿美元。保荐人也在IPO后175天找到了目标，这不到2020年保荐人搜索时间的一半，也低于2010年代的平均487天。</blockquote></p><p> <b>What to know today</b></p><p><blockquote><b>今天要知道什么</b></blockquote></p><p> <b>Economy</b></p><p><blockquote><b>经济</b></blockquote></p><p> <ul>  <li>7:00 a.m. ET:<b>MBA Mortgage Applications,</b>week ended February 26 (-11.4% during prior week)</li>  <li>8:15 a.m. ET:<b>ADP Employment Change,</b>February (200,000 expected, 174,000 in January)</li>  <li>9:45 a.m. ET:<b>Markit US Composite PMI,</b>February final (58.8 in prior print)</li>  <li>9:45 a.m. ET:<b>Markit US Services PMI,</b>February final (58.9 expected, 58.9 in prior print)</li>  <li>10:00 a.m. ET:<b>ISM Services Index,</b>February (58.7 expected, 58.7 in January)</li>  <li>2:00 p.m. ET:<b>Federal Reserve releases Beige Book</b></li> </ul> <b>Earnings</b></p><p><blockquote><ul><li>美国东部时间上午7:00：<b>MBA抵押贷款申请，</b>截至2月26日的一周（前一周为-11.4%）</li><li>美国东部时间上午8:15：<b>ADP就业变化，</b>2月（预计20万，1月17.4万）</li><li>美国东部时间上午9:45：<b>Markit美国综合PMI，</b>二月决赛（之前印刷为58.8）</li><li>美国东部时间上午9:45：<b>Markit美国服务业PMI，</b>2月最终版（预期为58.9，之前版本为58.9）</li><li>美国东部时间上午10:00：<b>ISM服务业指数，</b>2月（预期58.7，1月58.7）</li><li>下午2:00 ET：<b>美联储发布褐皮书</b></li></ul><b>收入</b></blockquote></p><p> <b>Pre-market</b></p><p><blockquote><b>上市前</b></blockquote></p><p> <ul>  <li>7:30 a.m. ET:<b>Dollar Tree (DLTR)</b>is expected to report adjusted earnings of $2.11 per share on revenue of $6.81 billion</li> </ul> <b>Post-market</b></p><p><blockquote><ul><li>美国东部时间上午7:30：<b>美元树(DLTR)</b>预计调整后每股收益为2.11美元，营收为68.1亿美元</li></ul><b>上市后</b></blockquote></p><p> <ul>  <li>4:00 p.m. ET:<b>Splunk (SPLK)</b>is expected to report adjusted earnings of 3 cents per share on revenue of $677.81 million</li>  <li>4:00 p.m. ET:<b>Okta (OKTA)</b>is expected to report an adjusted loss of 1 cent per share on revenue of $222.05 million</li>  <li>4:00 p.m. ET:<b>Snowflake (SNOW)</b>is expected to report an adjusted loss of 17 cents per share on revenue of $178.55 million</li>  <li>4:05 p.m. ET:<b>Vroom Inc (VRM)</b>is expected to report an adjusted loss of 37 cents per share on revenue of $401.85 million</li> </ul></p><p><blockquote><ul><li>下午4:00 ET：<b>Splunk(SPLK)</b>预计调整后每股收益为3美分，营收为6.7781亿美元</li><li>下午4:00 ET：<b>奥克塔（奥克塔）</b>预计调整后每股亏损1美分，营收为2.2205亿美元</li><li>下午4:00 ET：<b>雪花（雪）</b>预计调整后每股亏损17美分，营收为1.7855亿美元</li><li>下午4:05 ET：<b>轰鸣公司(VRM)</b>预计调整后每股亏损37美分，营收为4.0185亿美元</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/spacs-700-billion-market-2021-goldman-sachs-morning-brief-110126053.html\">yahoo</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/spacs-700-billion-market-2021-goldman-sachs-morning-brief-110126053.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144010843","content_text":"Goldman Sachs puts the SPAC boom in context.\nLate last year, we wrote aboutDavid Kostin's equity strategy team at Goldman Sachs declaring2020 the year of the SPAC.\nIn the few months since this report, the trend has only accelerated.\nKostin's team on Monday published their latest update on the space and the torrid pace with which these vehicles are coming to market.\nAnd torrid might be an understatement.\nThrough February 26, some 175 SPAC sponsors have debuted on the public market raising a total of $56 billion. In all of 2020 — a record year for SPAC IPOs — some 223 SPAC sponsors came to market.\nData fromSPAC Insider showsthat through Tuesday, some 204 SPAC IPOs had come to market; on Tuesday alone, no fewer than 12 SPACs were announced,according to data from Street Insider. At this rate, 2020's record year for SPACs might be eclipsed by week end. SPAC Insider data shows that from 2009-2019, there were 226 total SPAC IPOs.\nAs a quick reminder, SPAC is an acronym that stands for Special Purpose Acquisition Company, often referred to as a \"blank check\" company. These are publicly-listed entities with shares that don't represent claims on the business of an underlying company, but instead reflect an ownership stake in a pool of capital that will later be deployed to acquire an existing business.\nBack in January, we looked atSPACs as another micro-bubble, the likes of which have perked up in markets several times over the last few years. Goldman's data, however, shows that the capital behind these vehicles represents a much more potent market dynamic than speculative flows into 2017-era crypto projects or pot stocks.\n\"SPACs could generate more than $700 billion in acquisition activity in the next two years,\" Goldman writes.\"We estimate $103 billion in SPAC capital is actively searching for an acquisition target. The aggregate ratio of target enterprise value at merger announcement to associated SPAC capital has been 7x this year, a jump from 6x in 2020 and just 3x during the 2010s. If the YTD ratio were to hold, SPACs would acquire firms worth more than $700 billion of [enterprise value].\"\nGiven interest from clients and the broader markets, we'd expect Kostin and team to stay on this theme. And the chart below gives us the simplest way to think about what an implied value of the SPAC universe might be — just take the total amount of SPAC capital seeking an acquisition and multiply it by 7.\nThere is currently more than $100 billion of SPAC capital seeking an acquisition, and at current deal multiples this implies some $700 billion of potential value could be unlocked by these deals. (Source: Goldman Sachs)\nAnd while multiples on SPAC deals are going up, Goldman also finds that the value of companies taken public via this channel are rising as is the speed with which sponsors are deploying their capital.\nSo far this year, the average value of a company set to be taken public via SPAC is $2.9 billion, up from $1.7 billion last year and ~$800 million last decade, according to Goldman's data. Sponsors are also finding targets 175 days after their IPO, less than half the time sponsors spent searching in 2020 and down from an average of 487 days in the 2010s.\nWhat to know today\nEconomy\n\n7:00 a.m. ET:MBA Mortgage Applications,week ended February 26 (-11.4% during prior week)\n8:15 a.m. ET:ADP Employment Change,February (200,000 expected, 174,000 in January)\n9:45 a.m. ET:Markit US Composite PMI,February final (58.8 in prior print)\n9:45 a.m. ET:Markit US Services PMI,February final (58.9 expected, 58.9 in prior print)\n10:00 a.m. ET:ISM Services Index,February (58.7 expected, 58.7 in January)\n2:00 p.m. ET:Federal Reserve releases Beige Book\n\nEarnings\nPre-market\n\n7:30 a.m. ET:Dollar Tree (DLTR)is expected to report adjusted earnings of $2.11 per share on revenue of $6.81 billion\n\nPost-market\n\n4:00 p.m. ET:Splunk (SPLK)is expected to report adjusted earnings of 3 cents per share on revenue of $677.81 million\n4:00 p.m. ET:Okta (OKTA)is expected to report an adjusted loss of 1 cent per share on revenue of $222.05 million\n4:00 p.m. ET:Snowflake (SNOW)is expected to report an adjusted loss of 17 cents per share on revenue of $178.55 million\n4:05 p.m. ET:Vroom Inc (VRM)is expected to report an adjusted loss of 37 cents per share on revenue of $401.85 million","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365973226,"gmtCreate":1614694267565,"gmtModify":1703479961328,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"[呆住]&nbsp;[呆住]&nbsp;[呆住]&nbsp;","listText":"[呆住]&nbsp;[呆住]&nbsp;[呆住]&nbsp;","text":"[呆住] [呆住] [呆住]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/365973226","repostId":"1145359061","repostType":4,"isVote":1,"tweetType":1,"viewCount":1056,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":362391290,"gmtCreate":1614593846810,"gmtModify":1703478593245,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Ooooo! [开心]&nbsp;","listText":"Ooooo! [开心]&nbsp;","text":"Ooooo! [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/362391290","repostId":"1135866043","repostType":4,"isVote":1,"tweetType":1,"viewCount":1458,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":366231798,"gmtCreate":1614485491114,"gmtModify":1703477778899,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Interesting insights","listText":"Interesting insights","text":"Interesting insights","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/366231798","repostId":"1117820997","repostType":4,"isVote":1,"tweetType":1,"viewCount":337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366912732,"gmtCreate":1614383303726,"gmtModify":1703477101856,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Hmmmmm","listText":"Hmmmmm","text":"Hmmmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/366912732","repostId":"1117820997","repostType":4,"isVote":1,"tweetType":1,"viewCount":530,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368580653,"gmtCreate":1614337779972,"gmtModify":1703476563722,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575424579362415","idStr":"3575424579362415"},"themes":[],"htmlText":"Bitcoin!!","listText":"Bitcoin!!","text":"Bitcoin!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/368580653","repostId":"1117820997","repostType":4,"isVote":1,"tweetType":1,"viewCount":233,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":361573191,"gmtCreate":1614250285613,"gmtModify":1634550482230,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Wow. Good move?&nbsp;","listText":"Wow. Good move?&nbsp;","text":"Wow. Good move?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/361573191","repostId":"2114317810","repostType":4,"isVote":1,"tweetType":1,"viewCount":174,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":364520036,"gmtCreate":1614865751425,"gmtModify":1703482181982,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Comment pls&nbsp;","listText":"Comment pls&nbsp;","text":"Comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/364520036","repostId":"1191360281","repostType":4,"repost":{"id":"1191360281","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614864862,"share":"https://www.laohu8.com/m/news/1191360281?lang=zh_CN&edition=full","pubTime":"2021-03-04 21:34","market":"us","language":"en","title":"U.S. weekly jobless claims total 745,000, less than expected<blockquote>美国周度初请失业金人数总计74.5万人不及预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1191360281","media":"老虎资讯综合","summary":"(March 4) U.S. weekly jobless claims total 745,000, vs 750,000 estimate.Initial jobless claims, week","content":"<p>(March 4)&nbsp;U.S. weekly jobless claims total 745,000, vs 750,000 estimate.</p><p><blockquote>（3月4日）美国。每周申请失业救济人数总计745,000人，而预期为750,000人。</blockquote></p><p><ul><li><b>Initial jobless claims, week ended February 27:</b>750,000 expected vs. 730,000 during the prior week</p><p><blockquote><ul><li><b>截至2月27日当周首次申请失业救济人数：</b>预期为750,000人，前一周为730,000人</li></ul></blockquote></p><p></li><li><b>Continuing claims, week ended February 20:</b>4.300 million expected vs. 4.419 million during the prior week</p><p><blockquote><li><b>截至2月20日当周的持续索赔：</b>预期为430万，前一周为441.9万</li></blockquote></p><p></li></ul>Initial jobless claims sank far more than expected last week, though at least some of the drop appeared to have stemmed from data collection issues due to the extreme winter weather blanketing the country mid-month. Still, new jobless claims are expected to tick up only modestly after last week's pronounced drop, suggesting some underlying improvements in unemployment trends.</p><p><blockquote>上周首次申请失业救济人数的下降幅度远超预期，尽管至少部分下降似乎源于月中覆盖全国的极端冬季天气导致的数据收集问题。尽管如此，新申请失业救济人数在上周大幅下降后预计只会小幅上升，这表明失业趋势有所改善。</blockquote></p><p>But at the same time, jobless claims remain multiples above levels from before the COVID-19 pandemic, when new claims were averaging just over 200,000 per week. Returning to pre-pandemic levels of employment is likely to depend heavily on the pace of business reopenings, and consumers' propensity to return to service-centric activities most deeply affected by stay-in-place orders, many economists have noted.</p><p><blockquote>但与此同时，申请失业救济人数仍比COVID-19大流行之前的水平高出数倍，当时平均每周新申请失业救济人数略高于20万人。许多经济学家指出，恢复到大流行前的就业水平可能在很大程度上取决于企业重新开业的速度，以及消费者回归受留在原地订单影响最深的以服务为中心的活动的倾向。</blockquote></p><p>\"I think consumers are ready to spend more on services. They’re ready to travel, they’re ready to go out to restaurants. So I would expected we see very strong services job growth as we get towards the middle of 2021,\" Gus Faucher, PNC chief economist, told Yahoo Finance Live on Wednesday. \"And we’ll make a serious dent in the labor market, and I would expect that we’ll be back to our pre-pandemic level of employment sometime in the second half of 2022.\"</p><p><blockquote>PNC首席经济学家Gus Faucher周三对雅虎财经直播表示：“我认为消费者已经准备好在服务上花费更多。他们已经准备好旅行，他们已经准备好去餐馆。所以我预计，随着2021年中期，我们将看到非常强劲的服务业就业增长。”“我们将对劳动力市场造成严重影响，我预计我们将在2022年下半年的某个时候恢复到大流行前的就业水平。”</blockquote></p><p><img src=\"https://static.tigerbbs.com/cc603a37bb03f493aec799f3a97088c7\" tg-width=\"603\" tg-height=\"423\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Continuing jobless claims, which are reported on a one-week lag and measure the total number of individuals still receiving regular state unemployment benefits, are expected to decline for a seventh consecutive week.</p><p><blockquote>持续申请失业救济人数预计将连续第七周下降，该数据滞后一周，衡量仍在领取常规州失业救济金的总人数。</blockquote></p><p>But the number of Americans claiming unemployment benefits across all programs remains sharply elevated: Some 19 million Americans were still claiming benefits across all programs as of February 6, the latest date for which data is available. That included more than 12.5 million Americans on Pandemic Unemployment Assistance — the federal program offering benefits to gig workers and the self-employed who do not qualify for other programs — and Pandemic Emergency Unemployment Compensation, which offers additional up to 24 weeks of benefits.</p><p><blockquote>但在所有项目中申领失业救济金的美国人数仍然大幅上升：截至2月6日（可获得数据的最新日期），仍有约1900万美国人在所有项目中申领失业救济金。其中包括超过1250万美国人领取大流行失业援助（该联邦计划为没有资格享受其他计划的临时工和个体户提供福利）和大流行紧急失业补偿，该计划提供长达24周的额外福利。</blockquote></p><p>This week, the U.S. Senate is debating another $1.9 trillion coronavirus relief package, which was passed by the U.S. House of Representatives last weekend. This package would include measures extending federal unemployment benefits beyond their current March 14 expiration date. Senator Ron Wyden (D., Ore.), chairman of the Senate Finance Committee,said Tuesday that he was leading Senate Democratsin pushing for the package to include an automatic extension of unemployment benefits based on economic conditions, which would remove additional unemployment benefit cliffs going forward.</p><p><blockquote>本周，美国。参议院正在辩论另一项1.9万亿美元的冠状病毒救助计划，该计划于上周末由美国众议院通过。该计划将包括将联邦失业救济金延长至目前3月14日到期日之后的措施。俄勒冈州民主党参议员罗恩·怀登。参议院财政委员会主席周二表示，他正在领导参议院民主党人推动该计划，其中包括根据经济状况自动延长失业救济金，这将消除未来额外的失业救济金悬崖。</blockquote></p><p></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. weekly jobless claims total 745,000, less than expected<blockquote>美国周度初请失业金人数总计74.5万人不及预期</blockquote></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. weekly jobless claims total 745,000, less than expected<blockquote>美国周度初请失业金人数总计74.5万人不及预期</blockquote>\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\">2021-03-04 21:34</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(March 4)&nbsp;U.S. weekly jobless claims total 745,000, vs 750,000 estimate.</p><p><blockquote>（3月4日）美国。每周申请失业救济人数总计745,000人，而预期为750,000人。</blockquote></p><p><ul><li><b>Initial jobless claims, week ended February 27:</b>750,000 expected vs. 730,000 during the prior week</p><p><blockquote><ul><li><b>截至2月27日当周首次申请失业救济人数：</b>预期为750,000人，前一周为730,000人</li></ul></blockquote></p><p></li><li><b>Continuing claims, week ended February 20:</b>4.300 million expected vs. 4.419 million during the prior week</p><p><blockquote><li><b>截至2月20日当周的持续索赔：</b>预期为430万，前一周为441.9万</li></blockquote></p><p></li></ul>Initial jobless claims sank far more than expected last week, though at least some of the drop appeared to have stemmed from data collection issues due to the extreme winter weather blanketing the country mid-month. Still, new jobless claims are expected to tick up only modestly after last week's pronounced drop, suggesting some underlying improvements in unemployment trends.</p><p><blockquote>上周首次申请失业救济人数的下降幅度远超预期，尽管至少部分下降似乎源于月中覆盖全国的极端冬季天气导致的数据收集问题。尽管如此，新申请失业救济人数在上周大幅下降后预计只会小幅上升，这表明失业趋势有所改善。</blockquote></p><p>But at the same time, jobless claims remain multiples above levels from before the COVID-19 pandemic, when new claims were averaging just over 200,000 per week. Returning to pre-pandemic levels of employment is likely to depend heavily on the pace of business reopenings, and consumers' propensity to return to service-centric activities most deeply affected by stay-in-place orders, many economists have noted.</p><p><blockquote>但与此同时，申请失业救济人数仍比COVID-19大流行之前的水平高出数倍，当时平均每周新申请失业救济人数略高于20万人。许多经济学家指出，恢复到大流行前的就业水平可能在很大程度上取决于企业重新开业的速度，以及消费者回归受留在原地订单影响最深的以服务为中心的活动的倾向。</blockquote></p><p>\"I think consumers are ready to spend more on services. They’re ready to travel, they’re ready to go out to restaurants. So I would expected we see very strong services job growth as we get towards the middle of 2021,\" Gus Faucher, PNC chief economist, told Yahoo Finance Live on Wednesday. \"And we’ll make a serious dent in the labor market, and I would expect that we’ll be back to our pre-pandemic level of employment sometime in the second half of 2022.\"</p><p><blockquote>PNC首席经济学家Gus Faucher周三对雅虎财经直播表示：“我认为消费者已经准备好在服务上花费更多。他们已经准备好旅行，他们已经准备好去餐馆。所以我预计，随着2021年中期，我们将看到非常强劲的服务业就业增长。”“我们将对劳动力市场造成严重影响，我预计我们将在2022年下半年的某个时候恢复到大流行前的就业水平。”</blockquote></p><p><img src=\"https://static.tigerbbs.com/cc603a37bb03f493aec799f3a97088c7\" tg-width=\"603\" tg-height=\"423\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Continuing jobless claims, which are reported on a one-week lag and measure the total number of individuals still receiving regular state unemployment benefits, are expected to decline for a seventh consecutive week.</p><p><blockquote>持续申请失业救济人数预计将连续第七周下降，该数据滞后一周，衡量仍在领取常规州失业救济金的总人数。</blockquote></p><p>But the number of Americans claiming unemployment benefits across all programs remains sharply elevated: Some 19 million Americans were still claiming benefits across all programs as of February 6, the latest date for which data is available. That included more than 12.5 million Americans on Pandemic Unemployment Assistance — the federal program offering benefits to gig workers and the self-employed who do not qualify for other programs — and Pandemic Emergency Unemployment Compensation, which offers additional up to 24 weeks of benefits.</p><p><blockquote>但在所有项目中申领失业救济金的美国人数仍然大幅上升：截至2月6日（可获得数据的最新日期），仍有约1900万美国人在所有项目中申领失业救济金。其中包括超过1250万美国人领取大流行失业援助（该联邦计划为没有资格享受其他计划的临时工和个体户提供福利）和大流行紧急失业补偿，该计划提供长达24周的额外福利。</blockquote></p><p>This week, the U.S. Senate is debating another $1.9 trillion coronavirus relief package, which was passed by the U.S. House of Representatives last weekend. This package would include measures extending federal unemployment benefits beyond their current March 14 expiration date. Senator Ron Wyden (D., Ore.), chairman of the Senate Finance Committee,said Tuesday that he was leading Senate Democratsin pushing for the package to include an automatic extension of unemployment benefits based on economic conditions, which would remove additional unemployment benefit cliffs going forward.</p><p><blockquote>本周，美国。参议院正在辩论另一项1.9万亿美元的冠状病毒救助计划，该计划于上周末由美国众议院通过。该计划将包括将联邦失业救济金延长至目前3月14日到期日之后的措施。俄勒冈州民主党参议员罗恩·怀登。参议院财政委员会主席周二表示，他正在领导参议院民主党人推动该计划，其中包括根据经济状况自动延长失业救济金，这将消除未来额外的失业救济金悬崖。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/15e20574f8fb568333181d61bb200086","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191360281","content_text":"(March 4) U.S. weekly jobless claims total 745,000, vs 750,000 estimate.Initial jobless claims, week ended February 27:750,000 expected vs. 730,000 during the prior weekContinuing claims, week ended February 20:4.300 million expected vs. 4.419 million during the prior weekInitial jobless claims sank far more than expected last week, though at least some of the drop appeared to have stemmed from data collection issues due to the extreme winter weather blanketing the country mid-month. Still, new jobless claims are expected to tick up only modestly after last week's pronounced drop, suggesting some underlying improvements in unemployment trends.But at the same time, jobless claims remain multiples above levels from before the COVID-19 pandemic, when new claims were averaging just over 200,000 per week. Returning to pre-pandemic levels of employment is likely to depend heavily on the pace of business reopenings, and consumers' propensity to return to service-centric activities most deeply affected by stay-in-place orders, many economists have noted.\"I think consumers are ready to spend more on services. They’re ready to travel, they’re ready to go out to restaurants. So I would expected we see very strong services job growth as we get towards the middle of 2021,\" Gus Faucher, PNC chief economist, told Yahoo Finance Live on Wednesday. \"And we’ll make a serious dent in the labor market, and I would expect that we’ll be back to our pre-pandemic level of employment sometime in the second half of 2022.\"Continuing jobless claims, which are reported on a one-week lag and measure the total number of individuals still receiving regular state unemployment benefits, are expected to decline for a seventh consecutive week.But the number of Americans claiming unemployment benefits across all programs remains sharply elevated: Some 19 million Americans were still claiming benefits across all programs as of February 6, the latest date for which data is available. That included more than 12.5 million Americans on Pandemic Unemployment Assistance — the federal program offering benefits to gig workers and the self-employed who do not qualify for other programs — and Pandemic Emergency Unemployment Compensation, which offers additional up to 24 weeks of benefits.This week, the U.S. Senate is debating another $1.9 trillion coronavirus relief package, which was passed by the U.S. House of Representatives last weekend. This package would include measures extending federal unemployment benefits beyond their current March 14 expiration date. Senator Ron Wyden (D., Ore.), chairman of the Senate Finance Committee,said Tuesday that he was leading Senate Democratsin pushing for the package to include an automatic extension of unemployment benefits based on economic conditions, which would remove additional unemployment benefit cliffs going forward.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":494,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365451696,"gmtCreate":1614773966915,"gmtModify":1703480923062,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/365451696","repostId":"1144010843","repostType":4,"repost":{"id":"1144010843","kind":"news","pubTimestamp":1614773291,"share":"https://www.laohu8.com/m/news/1144010843?lang=zh_CN&edition=full","pubTime":"2021-03-03 20:08","market":"us","language":"en","title":"SPACs are now a $700 billion market: Morning Brief<blockquote>SPAC现在是一个7000亿美元的市场：早间简报</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1144010843","media":"yahoo","summary":"Goldman Sachs puts the SPAC boom in context.\nLate last year, we wrote aboutDavid Kostin's equity str","content":"<p>Goldman Sachs puts the SPAC boom in context.</p><p><blockquote>高盛将SPAC的繁荣置于背景中。</blockquote></p><p> Late last year, we wrote aboutDavid Kostin's equity strategy team at Goldman Sachs declaring2020 the year of the SPAC.</p><p><blockquote>去年年底，我们报道了高盛David Kostin的股票策略团队宣布2020年为SPAC年。</blockquote></p><p> In the few months since this report, the trend has only accelerated.</p><p><blockquote>自这份报告发布以来的几个月里，这一趋势只会加速。</blockquote></p><p> Kostin's team on Monday published their latest update on the space and the torrid pace with which these vehicles are coming to market.</p><p><blockquote>科斯汀的团队周一发布了有关该领域以及这些车辆上市速度的最新动态。</blockquote></p><p> And torrid might be an understatement.</p><p><blockquote>炎热可能是一种保守的说法。</blockquote></p><p> Through February 26, some 175 SPAC sponsors have debuted on the public market raising a total of $56 billion. In all of 2020 — a record year for SPAC IPOs — some 223 SPAC sponsors came to market.</p><p><blockquote>截至2月26日，约175家SPAC保荐人已在公开市场首次亮相，筹集了总计560亿美元的资金。2020年全年——SPAC IPO创纪录的一年——约有223家SPAC保荐人上市。</blockquote></p><p> Data fromSPAC Insider showsthat through Tuesday, some 204 SPAC IPOs had come to market; on Tuesday alone, no fewer than 12 SPACs were announced,according to data from Street Insider. At this rate, 2020's record year for SPACs might be eclipsed by week end. SPAC Insider data shows that from 2009-2019, there were 226 total SPAC IPOs.</p><p><blockquote>SPAC Insider的数据显示，截至周二，约有204起SPAC IPO上市；根据Street Insider的数据，仅在周二，就有不少于12家SPAC宣布成立。按照这个速度，2020年SPAC创纪录的一年可能会在本周末黯然失色。SPAC内幕数据显示，2009-2019年，SPAC IPO总数为226起。</blockquote></p><p> As a quick reminder, SPAC is an acronym that stands for Special Purpose Acquisition Company, often referred to as a \"blank check\" company. These are publicly-listed entities with shares that don't represent claims on the business of an underlying company, but instead reflect an ownership stake in a pool of capital that will later be deployed to acquire an existing business.</p><p><blockquote>快速提醒一下，SPAC是特殊目的收购公司的缩写，通常被称为“空白支票”公司。这些是公开上市实体，其股份并不代表对基础公司业务的债权，而是反映了资本池的所有权股份，这些资本池稍后将用于收购现有业务。</blockquote></p><p> Back in January, we looked atSPACs as another micro-bubble, the likes of which have perked up in markets several times over the last few years. Goldman's data, however, shows that the capital behind these vehicles represents a much more potent market dynamic than speculative flows into 2017-era crypto projects or pot stocks.</p><p><blockquote>早在一月份，我们就将ATSPAC视为另一个微泡沫，在过去几年中，此类泡沫已在市场上多次活跃。然而，高盛的数据显示，这些工具背后的资本代表着比投机性流入2017年时代的加密项目或大麻股票更强大的市场动态。</blockquote></p><p> \"SPACs could generate more than $700 billion in acquisition activity in the next two years,\" Goldman writes.<b>\"</b>We estimate $103 billion in SPAC capital is actively searching for an acquisition target. The aggregate ratio of target enterprise value at merger announcement to associated SPAC capital has been 7x this year, a jump from 6x in 2020 and just 3x during the 2010s. If the YTD ratio were to hold, SPACs would acquire firms worth more than $700 billion of [enterprise value].\"</p><p><blockquote>高盛写道：“未来两年，SPAC可能会产生超过7000亿美元的收购活动。”<b>\"</b>我们估计1030亿美元的SPAC capital正在积极寻找收购目标。合并公告时目标企业价值与相关SPAC资本的总比率今年为7倍，较2020年的6倍跃升，而2010年代仅为3倍。如果年初至今的比率保持不变，SPAC将收购价值超过7000亿美元[企业价值]的公司。”</blockquote></p><p> Given interest from clients and the broader markets, we'd expect Kostin and team to stay on this theme. And the chart below gives us the simplest way to think about what an implied value of the SPAC universe might be — just take the total amount of SPAC capital seeking an acquisition and multiply it by 7.</p><p><blockquote>鉴于客户和更广泛市场的兴趣，我们希望Kostin和团队继续关注这一主题。下图为我们提供了思考SPAC宇宙隐含价值的最简单方法——只需将寻求收购的SPAC资本总额乘以7即可。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0578fbffa1689f060fafe95fb699bb08\" tg-width=\"705\" tg-height=\"481\" referrerpolicy=\"no-referrer\">There is currently more than $100 billion of SPAC capital seeking an acquisition, and at current deal multiples this implies some $700 billion of potential value could be unlocked by these deals. (Source: Goldman Sachs)</p><p><blockquote>目前有超过1000亿美元的SPAC资本寻求收购，按照目前的交易倍数，这意味着这些交易可以释放约7000亿美元的潜在价值。（资料来源：高盛）</blockquote></p><p> And while multiples on SPAC deals are going up, Goldman also finds that the value of companies taken public via this channel are rising as is the speed with which sponsors are deploying their capital.</p><p><blockquote>虽然SPAC交易的市盈率正在上升，但高盛还发现，通过这一渠道上市的公司的价值也在上升，保荐人部署资本的速度也在上升。</blockquote></p><p> So far this year, the average value of a company set to be taken public via SPAC is $2.9 billion, up from $1.7 billion last year and ~$800 million last decade, according to Goldman's data. Sponsors are also finding targets 175 days after their IPO, less than half the time sponsors spent searching in 2020 and down from an average of 487 days in the 2010s.</p><p><blockquote>高盛的数据显示，今年到目前为止，通过SPAC上市的公司的平均价值为29亿美元，高于去年的17亿美元和过去十年的约8亿美元。保荐人也在IPO后175天找到了目标，这不到2020年保荐人搜索时间的一半，也低于2010年代的平均487天。</blockquote></p><p> <b>What to know today</b></p><p><blockquote><b>今天要知道什么</b></blockquote></p><p> <b>Economy</b></p><p><blockquote><b>经济</b></blockquote></p><p> <ul>  <li>7:00 a.m. ET:<b>MBA Mortgage Applications,</b>week ended February 26 (-11.4% during prior week)</li>  <li>8:15 a.m. ET:<b>ADP Employment Change,</b>February (200,000 expected, 174,000 in January)</li>  <li>9:45 a.m. ET:<b>Markit US Composite PMI,</b>February final (58.8 in prior print)</li>  <li>9:45 a.m. ET:<b>Markit US Services PMI,</b>February final (58.9 expected, 58.9 in prior print)</li>  <li>10:00 a.m. ET:<b>ISM Services Index,</b>February (58.7 expected, 58.7 in January)</li>  <li>2:00 p.m. ET:<b>Federal Reserve releases Beige Book</b></li> </ul> <b>Earnings</b></p><p><blockquote><ul><li>美国东部时间上午7:00：<b>MBA抵押贷款申请，</b>截至2月26日的一周（前一周为-11.4%）</li><li>美国东部时间上午8:15：<b>ADP就业变化，</b>2月（预计20万，1月17.4万）</li><li>美国东部时间上午9:45：<b>Markit美国综合PMI，</b>二月决赛（之前印刷为58.8）</li><li>美国东部时间上午9:45：<b>Markit美国服务业PMI，</b>2月最终版（预期为58.9，之前版本为58.9）</li><li>美国东部时间上午10:00：<b>ISM服务业指数，</b>2月（预期58.7，1月58.7）</li><li>下午2:00 ET：<b>美联储发布褐皮书</b></li></ul><b>收入</b></blockquote></p><p> <b>Pre-market</b></p><p><blockquote><b>上市前</b></blockquote></p><p> <ul>  <li>7:30 a.m. ET:<b>Dollar Tree (DLTR)</b>is expected to report adjusted earnings of $2.11 per share on revenue of $6.81 billion</li> </ul> <b>Post-market</b></p><p><blockquote><ul><li>美国东部时间上午7:30：<b>美元树(DLTR)</b>预计调整后每股收益为2.11美元，营收为68.1亿美元</li></ul><b>上市后</b></blockquote></p><p> <ul>  <li>4:00 p.m. ET:<b>Splunk (SPLK)</b>is expected to report adjusted earnings of 3 cents per share on revenue of $677.81 million</li>  <li>4:00 p.m. ET:<b>Okta (OKTA)</b>is expected to report an adjusted loss of 1 cent per share on revenue of $222.05 million</li>  <li>4:00 p.m. ET:<b>Snowflake (SNOW)</b>is expected to report an adjusted loss of 17 cents per share on revenue of $178.55 million</li>  <li>4:05 p.m. ET:<b>Vroom Inc (VRM)</b>is expected to report an adjusted loss of 37 cents per share on revenue of $401.85 million</li> </ul></p><p><blockquote><ul><li>下午4:00 ET：<b>Splunk(SPLK)</b>预计调整后每股收益为3美分，营收为6.7781亿美元</li><li>下午4:00 ET：<b>奥克塔（奥克塔）</b>预计调整后每股亏损1美分，营收为2.2205亿美元</li><li>下午4:00 ET：<b>雪花（雪）</b>预计调整后每股亏损17美分，营收为1.7855亿美元</li><li>下午4:05 ET：<b>轰鸣公司(VRM)</b>预计调整后每股亏损37美分，营收为4.0185亿美元</li></ul></blockquote></p><p></p>","source":"lsy1584348713084","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>SPACs are now a $700 billion market: Morning Brief<blockquote>SPAC现在是一个7000亿美元的市场：早间简报</blockquote></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\">\nSPACs are now a $700 billion market: Morning Brief<blockquote>SPAC现在是一个7000亿美元的市场：早间简报</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">yahoo</strong><span class=\"h-time small\">2021-03-03 20:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Goldman Sachs puts the SPAC boom in context.</p><p><blockquote>高盛将SPAC的繁荣置于背景中。</blockquote></p><p> Late last year, we wrote aboutDavid Kostin's equity strategy team at Goldman Sachs declaring2020 the year of the SPAC.</p><p><blockquote>去年年底，我们报道了高盛David Kostin的股票策略团队宣布2020年为SPAC年。</blockquote></p><p> In the few months since this report, the trend has only accelerated.</p><p><blockquote>自这份报告发布以来的几个月里，这一趋势只会加速。</blockquote></p><p> Kostin's team on Monday published their latest update on the space and the torrid pace with which these vehicles are coming to market.</p><p><blockquote>科斯汀的团队周一发布了有关该领域以及这些车辆上市速度的最新动态。</blockquote></p><p> And torrid might be an understatement.</p><p><blockquote>炎热可能是一种保守的说法。</blockquote></p><p> Through February 26, some 175 SPAC sponsors have debuted on the public market raising a total of $56 billion. In all of 2020 — a record year for SPAC IPOs — some 223 SPAC sponsors came to market.</p><p><blockquote>截至2月26日，约175家SPAC保荐人已在公开市场首次亮相，筹集了总计560亿美元的资金。2020年全年——SPAC IPO创纪录的一年——约有223家SPAC保荐人上市。</blockquote></p><p> Data fromSPAC Insider showsthat through Tuesday, some 204 SPAC IPOs had come to market; on Tuesday alone, no fewer than 12 SPACs were announced,according to data from Street Insider. At this rate, 2020's record year for SPACs might be eclipsed by week end. SPAC Insider data shows that from 2009-2019, there were 226 total SPAC IPOs.</p><p><blockquote>SPAC Insider的数据显示，截至周二，约有204起SPAC IPO上市；根据Street Insider的数据，仅在周二，就有不少于12家SPAC宣布成立。按照这个速度，2020年SPAC创纪录的一年可能会在本周末黯然失色。SPAC内幕数据显示，2009-2019年，SPAC IPO总数为226起。</blockquote></p><p> As a quick reminder, SPAC is an acronym that stands for Special Purpose Acquisition Company, often referred to as a \"blank check\" company. These are publicly-listed entities with shares that don't represent claims on the business of an underlying company, but instead reflect an ownership stake in a pool of capital that will later be deployed to acquire an existing business.</p><p><blockquote>快速提醒一下，SPAC是特殊目的收购公司的缩写，通常被称为“空白支票”公司。这些是公开上市实体，其股份并不代表对基础公司业务的债权，而是反映了资本池的所有权股份，这些资本池稍后将用于收购现有业务。</blockquote></p><p> Back in January, we looked atSPACs as another micro-bubble, the likes of which have perked up in markets several times over the last few years. Goldman's data, however, shows that the capital behind these vehicles represents a much more potent market dynamic than speculative flows into 2017-era crypto projects or pot stocks.</p><p><blockquote>早在一月份，我们就将ATSPAC视为另一个微泡沫，在过去几年中，此类泡沫已在市场上多次活跃。然而，高盛的数据显示，这些工具背后的资本代表着比投机性流入2017年时代的加密项目或大麻股票更强大的市场动态。</blockquote></p><p> \"SPACs could generate more than $700 billion in acquisition activity in the next two years,\" Goldman writes.<b>\"</b>We estimate $103 billion in SPAC capital is actively searching for an acquisition target. The aggregate ratio of target enterprise value at merger announcement to associated SPAC capital has been 7x this year, a jump from 6x in 2020 and just 3x during the 2010s. If the YTD ratio were to hold, SPACs would acquire firms worth more than $700 billion of [enterprise value].\"</p><p><blockquote>高盛写道：“未来两年，SPAC可能会产生超过7000亿美元的收购活动。”<b>\"</b>我们估计1030亿美元的SPAC capital正在积极寻找收购目标。合并公告时目标企业价值与相关SPAC资本的总比率今年为7倍，较2020年的6倍跃升，而2010年代仅为3倍。如果年初至今的比率保持不变，SPAC将收购价值超过7000亿美元[企业价值]的公司。”</blockquote></p><p> Given interest from clients and the broader markets, we'd expect Kostin and team to stay on this theme. And the chart below gives us the simplest way to think about what an implied value of the SPAC universe might be — just take the total amount of SPAC capital seeking an acquisition and multiply it by 7.</p><p><blockquote>鉴于客户和更广泛市场的兴趣，我们希望Kostin和团队继续关注这一主题。下图为我们提供了思考SPAC宇宙隐含价值的最简单方法——只需将寻求收购的SPAC资本总额乘以7即可。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0578fbffa1689f060fafe95fb699bb08\" tg-width=\"705\" tg-height=\"481\" referrerpolicy=\"no-referrer\">There is currently more than $100 billion of SPAC capital seeking an acquisition, and at current deal multiples this implies some $700 billion of potential value could be unlocked by these deals. (Source: Goldman Sachs)</p><p><blockquote>目前有超过1000亿美元的SPAC资本寻求收购，按照目前的交易倍数，这意味着这些交易可以释放约7000亿美元的潜在价值。（资料来源：高盛）</blockquote></p><p> And while multiples on SPAC deals are going up, Goldman also finds that the value of companies taken public via this channel are rising as is the speed with which sponsors are deploying their capital.</p><p><blockquote>虽然SPAC交易的市盈率正在上升，但高盛还发现，通过这一渠道上市的公司的价值也在上升，保荐人部署资本的速度也在上升。</blockquote></p><p> So far this year, the average value of a company set to be taken public via SPAC is $2.9 billion, up from $1.7 billion last year and ~$800 million last decade, according to Goldman's data. Sponsors are also finding targets 175 days after their IPO, less than half the time sponsors spent searching in 2020 and down from an average of 487 days in the 2010s.</p><p><blockquote>高盛的数据显示，今年到目前为止，通过SPAC上市的公司的平均价值为29亿美元，高于去年的17亿美元和过去十年的约8亿美元。保荐人也在IPO后175天找到了目标，这不到2020年保荐人搜索时间的一半，也低于2010年代的平均487天。</blockquote></p><p> <b>What to know today</b></p><p><blockquote><b>今天要知道什么</b></blockquote></p><p> <b>Economy</b></p><p><blockquote><b>经济</b></blockquote></p><p> <ul>  <li>7:00 a.m. ET:<b>MBA Mortgage Applications,</b>week ended February 26 (-11.4% during prior week)</li>  <li>8:15 a.m. ET:<b>ADP Employment Change,</b>February (200,000 expected, 174,000 in January)</li>  <li>9:45 a.m. ET:<b>Markit US Composite PMI,</b>February final (58.8 in prior print)</li>  <li>9:45 a.m. ET:<b>Markit US Services PMI,</b>February final (58.9 expected, 58.9 in prior print)</li>  <li>10:00 a.m. ET:<b>ISM Services Index,</b>February (58.7 expected, 58.7 in January)</li>  <li>2:00 p.m. ET:<b>Federal Reserve releases Beige Book</b></li> </ul> <b>Earnings</b></p><p><blockquote><ul><li>美国东部时间上午7:00：<b>MBA抵押贷款申请，</b>截至2月26日的一周（前一周为-11.4%）</li><li>美国东部时间上午8:15：<b>ADP就业变化，</b>2月（预计20万，1月17.4万）</li><li>美国东部时间上午9:45：<b>Markit美国综合PMI，</b>二月决赛（之前印刷为58.8）</li><li>美国东部时间上午9:45：<b>Markit美国服务业PMI，</b>2月最终版（预期为58.9，之前版本为58.9）</li><li>美国东部时间上午10:00：<b>ISM服务业指数，</b>2月（预期58.7，1月58.7）</li><li>下午2:00 ET：<b>美联储发布褐皮书</b></li></ul><b>收入</b></blockquote></p><p> <b>Pre-market</b></p><p><blockquote><b>上市前</b></blockquote></p><p> <ul>  <li>7:30 a.m. ET:<b>Dollar Tree (DLTR)</b>is expected to report adjusted earnings of $2.11 per share on revenue of $6.81 billion</li> </ul> <b>Post-market</b></p><p><blockquote><ul><li>美国东部时间上午7:30：<b>美元树(DLTR)</b>预计调整后每股收益为2.11美元，营收为68.1亿美元</li></ul><b>上市后</b></blockquote></p><p> <ul>  <li>4:00 p.m. ET:<b>Splunk (SPLK)</b>is expected to report adjusted earnings of 3 cents per share on revenue of $677.81 million</li>  <li>4:00 p.m. ET:<b>Okta (OKTA)</b>is expected to report an adjusted loss of 1 cent per share on revenue of $222.05 million</li>  <li>4:00 p.m. ET:<b>Snowflake (SNOW)</b>is expected to report an adjusted loss of 17 cents per share on revenue of $178.55 million</li>  <li>4:05 p.m. ET:<b>Vroom Inc (VRM)</b>is expected to report an adjusted loss of 37 cents per share on revenue of $401.85 million</li> </ul></p><p><blockquote><ul><li>下午4:00 ET：<b>Splunk(SPLK)</b>预计调整后每股收益为3美分，营收为6.7781亿美元</li><li>下午4:00 ET：<b>奥克塔（奥克塔）</b>预计调整后每股亏损1美分，营收为2.2205亿美元</li><li>下午4:00 ET：<b>雪花（雪）</b>预计调整后每股亏损17美分，营收为1.7855亿美元</li><li>下午4:05 ET：<b>轰鸣公司(VRM)</b>预计调整后每股亏损37美分，营收为4.0185亿美元</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/spacs-700-billion-market-2021-goldman-sachs-morning-brief-110126053.html\">yahoo</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/spacs-700-billion-market-2021-goldman-sachs-morning-brief-110126053.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144010843","content_text":"Goldman Sachs puts the SPAC boom in context.\nLate last year, we wrote aboutDavid Kostin's equity strategy team at Goldman Sachs declaring2020 the year of the SPAC.\nIn the few months since this report, the trend has only accelerated.\nKostin's team on Monday published their latest update on the space and the torrid pace with which these vehicles are coming to market.\nAnd torrid might be an understatement.\nThrough February 26, some 175 SPAC sponsors have debuted on the public market raising a total of $56 billion. In all of 2020 — a record year for SPAC IPOs — some 223 SPAC sponsors came to market.\nData fromSPAC Insider showsthat through Tuesday, some 204 SPAC IPOs had come to market; on Tuesday alone, no fewer than 12 SPACs were announced,according to data from Street Insider. At this rate, 2020's record year for SPACs might be eclipsed by week end. SPAC Insider data shows that from 2009-2019, there were 226 total SPAC IPOs.\nAs a quick reminder, SPAC is an acronym that stands for Special Purpose Acquisition Company, often referred to as a \"blank check\" company. These are publicly-listed entities with shares that don't represent claims on the business of an underlying company, but instead reflect an ownership stake in a pool of capital that will later be deployed to acquire an existing business.\nBack in January, we looked atSPACs as another micro-bubble, the likes of which have perked up in markets several times over the last few years. Goldman's data, however, shows that the capital behind these vehicles represents a much more potent market dynamic than speculative flows into 2017-era crypto projects or pot stocks.\n\"SPACs could generate more than $700 billion in acquisition activity in the next two years,\" Goldman writes.\"We estimate $103 billion in SPAC capital is actively searching for an acquisition target. The aggregate ratio of target enterprise value at merger announcement to associated SPAC capital has been 7x this year, a jump from 6x in 2020 and just 3x during the 2010s. If the YTD ratio were to hold, SPACs would acquire firms worth more than $700 billion of [enterprise value].\"\nGiven interest from clients and the broader markets, we'd expect Kostin and team to stay on this theme. And the chart below gives us the simplest way to think about what an implied value of the SPAC universe might be — just take the total amount of SPAC capital seeking an acquisition and multiply it by 7.\nThere is currently more than $100 billion of SPAC capital seeking an acquisition, and at current deal multiples this implies some $700 billion of potential value could be unlocked by these deals. (Source: Goldman Sachs)\nAnd while multiples on SPAC deals are going up, Goldman also finds that the value of companies taken public via this channel are rising as is the speed with which sponsors are deploying their capital.\nSo far this year, the average value of a company set to be taken public via SPAC is $2.9 billion, up from $1.7 billion last year and ~$800 million last decade, according to Goldman's data. Sponsors are also finding targets 175 days after their IPO, less than half the time sponsors spent searching in 2020 and down from an average of 487 days in the 2010s.\nWhat to know today\nEconomy\n\n7:00 a.m. ET:MBA Mortgage Applications,week ended February 26 (-11.4% during prior week)\n8:15 a.m. ET:ADP Employment Change,February (200,000 expected, 174,000 in January)\n9:45 a.m. ET:Markit US Composite PMI,February final (58.8 in prior print)\n9:45 a.m. ET:Markit US Services PMI,February final (58.9 expected, 58.9 in prior print)\n10:00 a.m. ET:ISM Services Index,February (58.7 expected, 58.7 in January)\n2:00 p.m. ET:Federal Reserve releases Beige Book\n\nEarnings\nPre-market\n\n7:30 a.m. ET:Dollar Tree (DLTR)is expected to report adjusted earnings of $2.11 per share on revenue of $6.81 billion\n\nPost-market\n\n4:00 p.m. ET:Splunk (SPLK)is expected to report adjusted earnings of 3 cents per share on revenue of $677.81 million\n4:00 p.m. ET:Okta (OKTA)is expected to report an adjusted loss of 1 cent per share on revenue of $222.05 million\n4:00 p.m. ET:Snowflake (SNOW)is expected to report an adjusted loss of 17 cents per share on revenue of $178.55 million\n4:05 p.m. ET:Vroom Inc (VRM)is expected to report an adjusted loss of 37 cents per share on revenue of $401.85 million","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320210347,"gmtCreate":1615112151189,"gmtModify":1703484801896,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Ooo","listText":"Ooo","text":"Ooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/320210347","repostId":"1169596583","repostType":4,"repost":{"id":"1169596583","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614958557,"share":"https://www.laohu8.com/m/news/1169596583?lang=zh_CN&edition=full","pubTime":"2021-03-05 23:35","market":"us","language":"en","title":"Palantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169596583","media":"老虎资讯综合","summary":"(March 5)&nbsp;Palantir plunged more than 13%.","content":"<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><blockquote>（3月5日）Palantir暴跌超13%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></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>Palantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote></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\">\nPalantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote>\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\">2021-03-05 23:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><blockquote>（3月5日）Palantir暴跌超13%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169596583","content_text":"(March 5) Palantir plunged more than 13%.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":267,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366231798,"gmtCreate":1614485491114,"gmtModify":1703477778899,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Interesting insights","listText":"Interesting insights","text":"Interesting insights","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/366231798","repostId":"1117820997","repostType":4,"isVote":1,"tweetType":1,"viewCount":337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188761219,"gmtCreate":1623462373931,"gmtModify":1634032887254,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/188761219","repostId":"2142823202","repostType":4,"isVote":1,"tweetType":1,"viewCount":1571,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366912732,"gmtCreate":1614383303726,"gmtModify":1703477101856,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Hmmmmm","listText":"Hmmmmm","text":"Hmmmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/366912732","repostId":"1117820997","repostType":4,"isVote":1,"tweetType":1,"viewCount":530,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":329329885,"gmtCreate":1615210072847,"gmtModify":1703485695967,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"[呆住]&nbsp;[呆住]&nbsp;","listText":"[呆住]&nbsp;[呆住]&nbsp;","text":"[呆住] [呆住]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/329329885","repostId":"1176535165","repostType":4,"repost":{"id":"1176535165","kind":"news","pubTimestamp":1615209357,"share":"https://www.laohu8.com/m/news/1176535165?lang=zh_CN&edition=full","pubTime":"2021-03-08 21:15","market":"us","language":"en","title":"Financial Stocks Have Crushed Tech. The Trade Is Still Alive.<blockquote>金融股碾压了科技股。交易仍然活跃。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1176535165","media":"Barrons","summary":"The rally in financial stocks has been so strong that they have outperformed tech—the darling of the","content":"<p>The rally in financial stocks has been so strong that they have outperformed tech—the darling of the pandemic—since the bear-market low last March. Don’t expect that to end any time soon.</p><p><blockquote>自去年3月熊市低点以来，金融股的涨势如此强劲，以至于它们的表现优于科技股——疫情的宠儿。不要指望这种情况会很快结束。</blockquote></p><p> The price movements of almost allfinancial assets have reflected expectations for higher economic growth and inflation since September. Perhaps most importantly, interest rates have taken off, with opposite effects on the two sectors.</p><p><blockquote>自9月份以来，几乎所有金融资产的价格走势都反映了对经济增长和通胀上升的预期。也许最重要的是，利率已经起飞，对这两个行业产生了相反的影响。</blockquote></p><p> Banks lend more when the economy is healthier, and have to set aside less money to cover potential losses on loans. At the same time, each loan is more profitable iflong-term interest rates riserelative to short-term borrowing costs, as they have recently. Banks pay short-term rates for funds they get from depositors and in the money market, and lend that cash out at long-term rates, for periods of as much as 30 years,</p><p><blockquote>当经济更健康时，银行会放贷更多，并且必须留出更少的资金来弥补贷款的潜在损失。与此同时，如果长期利率相对于短期借贷成本上升（就像最近一样），每笔贷款的利润都会更高。银行为从储户和货币市场获得的资金支付短期利率，并以长期利率将现金贷出，期限长达30年，</blockquote></p><p> The same rise in rates—the yield on the 10-year Treasury note more than doubled since September—has eaten into the valuations of stocks, reducing the present, discounted value of money to be earned in the future.It is a particular problem for hot growth stocks, many of them in the tech sector, because most of their earnings are expected to come years from now.</p><p><blockquote>同样的利率上升——10年期国债收益率自9月份以来翻了一倍多——侵蚀了股票的估值，降低了未来可赚取的货币的当前贴现价值。对于热门成长型股票（其中许多属于科技行业）来说，这是一个特殊的问题，因为它们的大部分盈利预计将在几年后出现。</blockquote></p><p> Now, theFinancial Select Sector SPDR Fund(ticker: XLF) is up almost 90% since the low of the pandemic-induced bear market. TheTechnology Select Sector SPDR Fund(XLK) is up 82%.</p><p><blockquote>现在，金融精选行业SPDR基金（股票代码：XLF）自大流行引发的熊市低点以来已上涨近90%。科技精选行业SPDR基金(XLK)上涨82%。</blockquote></p><p> “Thanks to investors resetting their view on interest rates, there has been a swift and meaningful rotation out of technology stocks and into financials,” wrote Jason Goepfert, founder of Sundial Capital Research. In roughly the past year, the aggregate value of tech stocks has fallen to about five times that of financials, compared with 6.4 times.</p><p><blockquote>Sundial Capital Research创始人Jason Goepfert写道：“由于投资者重新调整了对利率的看法，科技股迅速而有意义地转向金融股。”大约在过去一年里，科技股的总价值已跌至金融股的五倍左右，而金融股的总价值为6.4倍。</blockquote></p><p> It isn’t too late to move into financial stocks.</p><p><blockquote>现在进入金融股还为时不晚。</blockquote></p><p> The economy is reopening, the government has spenttrillions of dollars to prop up growth, and many consumers and businesses are ready to spend. Prices for financial stocks reflect how they could benefit from all that, but several factors indicate the group may have more room to run.</p><p><blockquote>经济正在重新开放，政府已花费数万亿美元来支撑增长，许多消费者和企业已准备好支出。金融股的价格反映了它们如何从中受益，但几个因素表明该集团可能有更大的运行空间。</blockquote></p><p> First,many observers expect the 10-year Treasury yield to hit roughly 2% by year-end, a major positive for bank profitability. So long as the Federal Reserve doesn’t lift interest rates too high before the economy can handle it, loan volumes shouldn’t suffer. Earnings growth for financial companies in the S&amp;P 500 could be 12% in 2022 , according to FactSet data.</p><p><blockquote>首先，许多观察人士预计10年期国债收益率将在年底前达到2%左右，这对银行盈利能力来说是一个重大利好。只要美联储在经济能够承受之前不会将利率提高得太高，贷款量就不会受到影响。FactSet数据显示，2022年标普500金融公司的盈利增长可能达到12%。</blockquote></p><p> Plus, financial stocks’ valuations are low. Their ratios of stock prices to expected 2022 per-share earnings are 30% lower than for the average stock in the S&amp;P 500. Historically, financials trade at multiples in line with the index, according to research from RBC Capital Markets.</p><p><blockquote>另外，金融股的估值较低。他们的股价与2022年预期每股收益的比率比标普500的平均股票低30%。根据加拿大皇家银行资本市场的研究，从历史上看，金融股的交易倍数与该指数一致。</blockquote></p><p> The fact that a group of stocks is hot doesn’t disqualify it as one to buy.</p><p><blockquote>一组股票热门的事实并不意味着它失去了买入的资格。</blockquote></p><p></p>","source":"lsy1601382232898","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>Financial Stocks Have Crushed Tech. The Trade Is Still Alive.<blockquote>金融股碾压了科技股。交易仍然活跃。</blockquote></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\">\nFinancial Stocks Have Crushed Tech. The Trade Is Still Alive.<blockquote>金融股碾压了科技股。交易仍然活跃。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-08 21:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The rally in financial stocks has been so strong that they have outperformed tech—the darling of the pandemic—since the bear-market low last March. Don’t expect that to end any time soon.</p><p><blockquote>自去年3月熊市低点以来，金融股的涨势如此强劲，以至于它们的表现优于科技股——疫情的宠儿。不要指望这种情况会很快结束。</blockquote></p><p> The price movements of almost allfinancial assets have reflected expectations for higher economic growth and inflation since September. Perhaps most importantly, interest rates have taken off, with opposite effects on the two sectors.</p><p><blockquote>自9月份以来，几乎所有金融资产的价格走势都反映了对经济增长和通胀上升的预期。也许最重要的是，利率已经起飞，对这两个行业产生了相反的影响。</blockquote></p><p> Banks lend more when the economy is healthier, and have to set aside less money to cover potential losses on loans. At the same time, each loan is more profitable iflong-term interest rates riserelative to short-term borrowing costs, as they have recently. Banks pay short-term rates for funds they get from depositors and in the money market, and lend that cash out at long-term rates, for periods of as much as 30 years,</p><p><blockquote>当经济更健康时，银行会放贷更多，并且必须留出更少的资金来弥补贷款的潜在损失。与此同时，如果长期利率相对于短期借贷成本上升（就像最近一样），每笔贷款的利润都会更高。银行为从储户和货币市场获得的资金支付短期利率，并以长期利率将现金贷出，期限长达30年，</blockquote></p><p> The same rise in rates—the yield on the 10-year Treasury note more than doubled since September—has eaten into the valuations of stocks, reducing the present, discounted value of money to be earned in the future.It is a particular problem for hot growth stocks, many of them in the tech sector, because most of their earnings are expected to come years from now.</p><p><blockquote>同样的利率上升——10年期国债收益率自9月份以来翻了一倍多——侵蚀了股票的估值，降低了未来可赚取的货币的当前贴现价值。对于热门成长型股票（其中许多属于科技行业）来说，这是一个特殊的问题，因为它们的大部分盈利预计将在几年后出现。</blockquote></p><p> Now, theFinancial Select Sector SPDR Fund(ticker: XLF) is up almost 90% since the low of the pandemic-induced bear market. TheTechnology Select Sector SPDR Fund(XLK) is up 82%.</p><p><blockquote>现在，金融精选行业SPDR基金（股票代码：XLF）自大流行引发的熊市低点以来已上涨近90%。科技精选行业SPDR基金(XLK)上涨82%。</blockquote></p><p> “Thanks to investors resetting their view on interest rates, there has been a swift and meaningful rotation out of technology stocks and into financials,” wrote Jason Goepfert, founder of Sundial Capital Research. In roughly the past year, the aggregate value of tech stocks has fallen to about five times that of financials, compared with 6.4 times.</p><p><blockquote>Sundial Capital Research创始人Jason Goepfert写道：“由于投资者重新调整了对利率的看法，科技股迅速而有意义地转向金融股。”大约在过去一年里，科技股的总价值已跌至金融股的五倍左右，而金融股的总价值为6.4倍。</blockquote></p><p> It isn’t too late to move into financial stocks.</p><p><blockquote>现在进入金融股还为时不晚。</blockquote></p><p> The economy is reopening, the government has spenttrillions of dollars to prop up growth, and many consumers and businesses are ready to spend. Prices for financial stocks reflect how they could benefit from all that, but several factors indicate the group may have more room to run.</p><p><blockquote>经济正在重新开放，政府已花费数万亿美元来支撑增长，许多消费者和企业已准备好支出。金融股的价格反映了它们如何从中受益，但几个因素表明该集团可能有更大的运行空间。</blockquote></p><p> First,many observers expect the 10-year Treasury yield to hit roughly 2% by year-end, a major positive for bank profitability. So long as the Federal Reserve doesn’t lift interest rates too high before the economy can handle it, loan volumes shouldn’t suffer. Earnings growth for financial companies in the S&amp;P 500 could be 12% in 2022 , according to FactSet data.</p><p><blockquote>首先，许多观察人士预计10年期国债收益率将在年底前达到2%左右，这对银行盈利能力来说是一个重大利好。只要美联储在经济能够承受之前不会将利率提高得太高，贷款量就不会受到影响。FactSet数据显示，2022年标普500金融公司的盈利增长可能达到12%。</blockquote></p><p> Plus, financial stocks’ valuations are low. Their ratios of stock prices to expected 2022 per-share earnings are 30% lower than for the average stock in the S&amp;P 500. Historically, financials trade at multiples in line with the index, according to research from RBC Capital Markets.</p><p><blockquote>另外，金融股的估值较低。他们的股价与2022年预期每股收益的比率比标普500的平均股票低30%。根据加拿大皇家银行资本市场的研究，从历史上看，金融股的交易倍数与该指数一致。</blockquote></p><p> The fact that a group of stocks is hot doesn’t disqualify it as one to buy.</p><p><blockquote>一组股票热门的事实并不意味着它失去了买入的资格。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/financial-stocks-have-crushed-tech-the-trade-is-still-alive-51615206612?mod=hp_LEADSUPP_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/financial-stocks-have-crushed-tech-the-trade-is-still-alive-51615206612?mod=hp_LEADSUPP_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176535165","content_text":"The rally in financial stocks has been so strong that they have outperformed tech—the darling of the pandemic—since the bear-market low last March. Don’t expect that to end any time soon.\nThe price movements of almost allfinancial assets have reflected expectations for higher economic growth and inflation since September. Perhaps most importantly, interest rates have taken off, with opposite effects on the two sectors.\nBanks lend more when the economy is healthier, and have to set aside less money to cover potential losses on loans. At the same time, each loan is more profitable iflong-term interest rates riserelative to short-term borrowing costs, as they have recently. Banks pay short-term rates for funds they get from depositors and in the money market, and lend that cash out at long-term rates, for periods of as much as 30 years,\nThe same rise in rates—the yield on the 10-year Treasury note more than doubled since September—has eaten into the valuations of stocks, reducing the present, discounted value of money to be earned in the future.It is a particular problem for hot growth stocks, many of them in the tech sector, because most of their earnings are expected to come years from now.\nNow, theFinancial Select Sector SPDR Fund(ticker: XLF) is up almost 90% since the low of the pandemic-induced bear market. TheTechnology Select Sector SPDR Fund(XLK) is up 82%.\n“Thanks to investors resetting their view on interest rates, there has been a swift and meaningful rotation out of technology stocks and into financials,” wrote Jason Goepfert, founder of Sundial Capital Research. In roughly the past year, the aggregate value of tech stocks has fallen to about five times that of financials, compared with 6.4 times.\nIt isn’t too late to move into financial stocks.\nThe economy is reopening, the government has spenttrillions of dollars to prop up growth, and many consumers and businesses are ready to spend. Prices for financial stocks reflect how they could benefit from all that, but several factors indicate the group may have more room to run.\nFirst,many observers expect the 10-year Treasury yield to hit roughly 2% by year-end, a major positive for bank profitability. So long as the Federal Reserve doesn’t lift interest rates too high before the economy can handle it, loan volumes shouldn’t suffer. Earnings growth for financial companies in the S&P 500 could be 12% in 2022 , according to FactSet data.\nPlus, financial stocks’ valuations are low. Their ratios of stock prices to expected 2022 per-share earnings are 30% lower than for the average stock in the S&P 500. Historically, financials trade at multiples in line with the index, according to research from RBC Capital Markets.\nThe fact that a group of stocks is hot doesn’t disqualify it as one to buy.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":4014,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":388379762,"gmtCreate":1613031231556,"gmtModify":1703768541962,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"[呆住]&nbsp;","listText":"[呆住]&nbsp;","text":"[呆住]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/388379762","repostId":"2110041062","repostType":4,"isVote":1,"tweetType":1,"viewCount":1150,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":320983059,"gmtCreate":1614999508171,"gmtModify":1703484106705,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"[微笑]&nbsp;[微笑]&nbsp;","listText":"[微笑]&nbsp;[微笑]&nbsp;","text":"[微笑] [微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/320983059","repostId":"1169596583","repostType":4,"repost":{"id":"1169596583","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614958557,"share":"https://www.laohu8.com/m/news/1169596583?lang=zh_CN&edition=full","pubTime":"2021-03-05 23:35","market":"us","language":"en","title":"Palantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169596583","media":"老虎资讯综合","summary":"(March 5)&nbsp;Palantir plunged more than 13%.","content":"<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><blockquote>（3月5日）Palantir暴跌超13%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></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>Palantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote></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\">\nPalantir plunged more than 13%<blockquote>Palantir暴跌超13%</blockquote>\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\">2021-03-05 23:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><blockquote>（3月5日）Palantir暴跌超13%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169596583","content_text":"(March 5) Palantir plunged more than 13%.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":861,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":367217230,"gmtCreate":1614954144620,"gmtModify":1703483408098,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Nice!&nbsp;","listText":"Nice!&nbsp;","text":"Nice!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/367217230","repostId":"2117950085","repostType":4,"isVote":1,"tweetType":1,"viewCount":292,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365973226,"gmtCreate":1614694267565,"gmtModify":1703479961328,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"[呆住]&nbsp;[呆住]&nbsp;[呆住]&nbsp;","listText":"[呆住]&nbsp;[呆住]&nbsp;[呆住]&nbsp;","text":"[呆住] [呆住] [呆住]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/365973226","repostId":"1145359061","repostType":4,"isVote":1,"tweetType":1,"viewCount":1056,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":363470118,"gmtCreate":1614168452534,"gmtModify":1634550907443,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Ooooo! [真香]&nbsp;[真香]&nbsp;","listText":"Ooooo! [真香]&nbsp;[真香]&nbsp;","text":"Ooooo! [真香] [真香]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/363470118","repostId":"1129467108","repostType":4,"repost":{"id":"1129467108","kind":"news","pubTimestamp":1614164417,"share":"https://www.laohu8.com/m/news/1129467108?lang=zh_CN&edition=full","pubTime":"2021-02-24 19:00","market":"us","language":"en","title":"Why J.P. Morgan Says Now Is the Time to Bet on the S&P 500<blockquote>为什么摩根大通表示现在是押注标普500的时候</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129467108","media":"Barrons","summary":"Don’t worry. Be greedy.Even though investor fears are rising, and the stock market is getting bullie","content":"<p>Don’t worry. Be greedy.</p><p><blockquote>别担心。要贪心。</blockquote></p><p>Even though investor fears are rising, and the stock market is getting bullied by rising bond yields,J.P. Morganstrategists have told their clients that now is the time to embrace stocks.</p><p><blockquote>尽管投资者的担忧正在加剧，股市也受到债券收益率上升的欺负，但J.P.摩根策略师告诉他们的客户，现在是拥抱股票的时候了。</blockquote></p><p>TheS&amp;P 500may be waffling around 3875, but the bank is standing by its 2021 year-end price target of 4400 on a range of 4200 to 4600. Its numbers aren’t merely some derivative of the stock market’s expected earnings. Instead, they reflect America’s economic reawakening after the Covid-19 pandemic.</p><p><blockquote>标准普尔500指数可能在3875点附近徘徊，但该行坚持2021年年底目标价4400点，区间为4200点至4600点。它的数字不仅仅是股市预期收益的一些衍生物。相反，它们反映了美国在Covid-19大流行后的经济复苏。</blockquote></p><p>Shawn Quigg, a J.P. Morgan derivatives strategist, recently told clients that there is little to stand in the way of the market’s achievement of “such gains sooner than later, particularly considering the numerous catalysts ahead, their impact on volatility, and the implications that will have on investor positioning.”</p><p><blockquote>摩根大通衍生品策略师肖恩·奎格(Shawn Quigg)最近告诉客户，市场实现“这种收益迟早会到来，特别是考虑到未来的众多催化剂、它们对波动性的影响以及对投资者定位的影响。”</blockquote></p><p>As President Joe Biden’s administration&nbsp;champions a $1.9 trillion stimulus program, and Covid-19 infections and hospitalizations decline, Quigg anticipates stocks surging. His view is somewhat at odds with recent trading. Stocks have declined as the 10-year Treasury note yield has increased to about 1.38%, a move&nbsp;that is fanning inflation fearsand worries about stock slumps.</p><p><blockquote>随着乔·拜登总统的政府支持1.9万亿美元的刺激计划，以及Covid-19感染和住院人数的下降，奎格预计股市将飙升。他的观点与近期交易有些出入。随着10年期国债收益率升至1.38%左右，股市下跌，此举加剧了通胀担忧和对股市暴跌的担忧。</blockquote></p><p>Quigg likes taking advantage of the fear and the pending stimulus program, which Biden has begun to defend against concerns that it is too large. In various interviews, the president has challenged critics to tell him what to cut at a time when so much of the nation is suffering. The Biden administration is now warning that the greatest risk isn’t a large stimulus package, but one that is too small and thus doesn’t meaningfully stimulate economic growth.</p><p><blockquote>奎格喜欢利用恐惧和悬而未决的刺激计划，拜登已经开始为该计划辩护，因为担心该计划规模过大。在各种采访中，总统挑战批评者告诉他，在这个国家如此多的人遭受苦难的时候，应该削减什么。拜登政府现在警告说，最大的风险不是大规模的刺激计划，而是规模太小，因此无法有意义地刺激经济增长。</blockquote></p><p>To position for the stock market to surge higher, Quigg advised clients to consider selling one of the&nbsp;SPDR S&amp;P 500 ETF‘s (ticker: SPY) May $353 put options and buying 15 May $450 call options. When the ETF was at $392.39, the leveraged risk-reversal strategy—that is,selling one put and buying many more calls&nbsp;with a higher strike price but the same expiration—could be done for no cost. In other words, the money received for selling the put was enough to buy 15 bullish calls.</p><p><blockquote>为了让股市飙升，Quigg建议客户考虑出售SPDR标普500 ETF（股票代码：SPDR标普500指数ETF）5月353美元的看跌期权之一，并购买5月15日450美元的看涨期权期权。当ETF价格为392.39美元时，杠杆风险逆转策略——即卖出一份看跌期权并买入更多执行价格更高但到期日相同的评级——可以免费完成。换句话说，卖出看跌期权收到的钱足以买入15个看涨的评级。</blockquote></p><p>The trade expresses high conviction that the ETF—which was recently trading around $387—will reach $450 by May 21, when May options expire. At $460, the call is worth $10.</p><p><blockquote>该交易表明，该ETF（最近交易价格约为387美元）将在5月21日5月期权到期时达到450美元。看涨期权售价460美元，价值10美元。</blockquote></p><p>Should the ETF decline, say, because current fears push the market below the $353 strike price, investors would be obligated to buy it at the lower price, or to cover or adjust the puts.</p><p><blockquote>比方说，如果ETF下跌，因为当前的担忧将市场推至353美元的执行价格以下，投资者将有义务以较低的价格买入，或者回补或调整看跌期权。</blockquote></p><p>Quigg’s trade idea has a lot to admire.</p><p><blockquote>奎格的交易理念有很多值得钦佩的地方。</blockquote></p><p>For one, the trade carried zero cost when it was recommended late last week. Yes, prices have moved since the Feb. 18 note was published, but investors can recast strike prices to create similar pricing. The markets change, and that’s why there are so many different strike prices that are listed.</p><p><blockquote>其一，上周晚些时候推荐该交易时成本为零。是的，自2月18日的报告发布以来，价格已经发生了变化，但投资者可以重新调整执行价格以创建类似的定价。市场会发生变化，这就是为什么列出了这么多不同的执行价格。</blockquote></p><p>Moreover, if J.P. Morgan’s base view of the economic reawakening proves true, owning a bundle of upside calls that cost nothing could be quite lucrative. Should the market succumb to the current fears that are weakening prices, owning S&amp;P 500 stocks at lower prices isn’t terrible, either.</p><p><blockquote>此外，如果摩根大通对经济复苏的基本观点被证明是正确的，那么拥有一批不需要花费任何成本的上行评级可能会非常有利可图。如果市场屈服于当前价格疲软的担忧，以较低的价格持有标普500股票也并不可怕。</blockquote></p><p></p>","source":"lsy1601382232898","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>Why J.P. Morgan Says Now Is the Time to Bet on the S&P 500<blockquote>为什么摩根大通表示现在是押注标普500的时候</blockquote></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\">\nWhy J.P. Morgan Says Now Is the Time to Bet on the S&P 500<blockquote>为什么摩根大通表示现在是押注标普500的时候</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-02-24 19:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Don’t worry. Be greedy.</p><p><blockquote>别担心。要贪心。</blockquote></p><p>Even though investor fears are rising, and the stock market is getting bullied by rising bond yields,J.P. Morganstrategists have told their clients that now is the time to embrace stocks.</p><p><blockquote>尽管投资者的担忧正在加剧，股市也受到债券收益率上升的欺负，但J.P.摩根策略师告诉他们的客户，现在是拥抱股票的时候了。</blockquote></p><p>TheS&amp;P 500may be waffling around 3875, but the bank is standing by its 2021 year-end price target of 4400 on a range of 4200 to 4600. Its numbers aren’t merely some derivative of the stock market’s expected earnings. Instead, they reflect America’s economic reawakening after the Covid-19 pandemic.</p><p><blockquote>标准普尔500指数可能在3875点附近徘徊，但该行坚持2021年年底目标价4400点，区间为4200点至4600点。它的数字不仅仅是股市预期收益的一些衍生物。相反，它们反映了美国在Covid-19大流行后的经济复苏。</blockquote></p><p>Shawn Quigg, a J.P. Morgan derivatives strategist, recently told clients that there is little to stand in the way of the market’s achievement of “such gains sooner than later, particularly considering the numerous catalysts ahead, their impact on volatility, and the implications that will have on investor positioning.”</p><p><blockquote>摩根大通衍生品策略师肖恩·奎格(Shawn Quigg)最近告诉客户，市场实现“这种收益迟早会到来，特别是考虑到未来的众多催化剂、它们对波动性的影响以及对投资者定位的影响。”</blockquote></p><p>As President Joe Biden’s administration&nbsp;champions a $1.9 trillion stimulus program, and Covid-19 infections and hospitalizations decline, Quigg anticipates stocks surging. His view is somewhat at odds with recent trading. Stocks have declined as the 10-year Treasury note yield has increased to about 1.38%, a move&nbsp;that is fanning inflation fearsand worries about stock slumps.</p><p><blockquote>随着乔·拜登总统的政府支持1.9万亿美元的刺激计划，以及Covid-19感染和住院人数的下降，奎格预计股市将飙升。他的观点与近期交易有些出入。随着10年期国债收益率升至1.38%左右，股市下跌，此举加剧了通胀担忧和对股市暴跌的担忧。</blockquote></p><p>Quigg likes taking advantage of the fear and the pending stimulus program, which Biden has begun to defend against concerns that it is too large. In various interviews, the president has challenged critics to tell him what to cut at a time when so much of the nation is suffering. The Biden administration is now warning that the greatest risk isn’t a large stimulus package, but one that is too small and thus doesn’t meaningfully stimulate economic growth.</p><p><blockquote>奎格喜欢利用恐惧和悬而未决的刺激计划，拜登已经开始为该计划辩护，因为担心该计划规模过大。在各种采访中，总统挑战批评者告诉他，在这个国家如此多的人遭受苦难的时候，应该削减什么。拜登政府现在警告说，最大的风险不是大规模的刺激计划，而是规模太小，因此无法有意义地刺激经济增长。</blockquote></p><p>To position for the stock market to surge higher, Quigg advised clients to consider selling one of the&nbsp;SPDR S&amp;P 500 ETF‘s (ticker: SPY) May $353 put options and buying 15 May $450 call options. When the ETF was at $392.39, the leveraged risk-reversal strategy—that is,selling one put and buying many more calls&nbsp;with a higher strike price but the same expiration—could be done for no cost. In other words, the money received for selling the put was enough to buy 15 bullish calls.</p><p><blockquote>为了让股市飙升，Quigg建议客户考虑出售SPDR标普500 ETF（股票代码：SPDR标普500指数ETF）5月353美元的看跌期权之一，并购买5月15日450美元的看涨期权期权。当ETF价格为392.39美元时，杠杆风险逆转策略——即卖出一份看跌期权并买入更多执行价格更高但到期日相同的评级——可以免费完成。换句话说，卖出看跌期权收到的钱足以买入15个看涨的评级。</blockquote></p><p>The trade expresses high conviction that the ETF—which was recently trading around $387—will reach $450 by May 21, when May options expire. At $460, the call is worth $10.</p><p><blockquote>该交易表明，该ETF（最近交易价格约为387美元）将在5月21日5月期权到期时达到450美元。看涨期权售价460美元，价值10美元。</blockquote></p><p>Should the ETF decline, say, because current fears push the market below the $353 strike price, investors would be obligated to buy it at the lower price, or to cover or adjust the puts.</p><p><blockquote>比方说，如果ETF下跌，因为当前的担忧将市场推至353美元的执行价格以下，投资者将有义务以较低的价格买入，或者回补或调整看跌期权。</blockquote></p><p>Quigg’s trade idea has a lot to admire.</p><p><blockquote>奎格的交易理念有很多值得钦佩的地方。</blockquote></p><p>For one, the trade carried zero cost when it was recommended late last week. Yes, prices have moved since the Feb. 18 note was published, but investors can recast strike prices to create similar pricing. The markets change, and that’s why there are so many different strike prices that are listed.</p><p><blockquote>其一，上周晚些时候推荐该交易时成本为零。是的，自2月18日的报告发布以来，价格已经发生了变化，但投资者可以重新调整执行价格以创建类似的定价。市场会发生变化，这就是为什么列出了这么多不同的执行价格。</blockquote></p><p>Moreover, if J.P. Morgan’s base view of the economic reawakening proves true, owning a bundle of upside calls that cost nothing could be quite lucrative. Should the market succumb to the current fears that are weakening prices, owning S&amp;P 500 stocks at lower prices isn’t terrible, either.</p><p><blockquote>此外，如果摩根大通对经济复苏的基本观点被证明是正确的，那么拥有一批不需要花费任何成本的上行评级可能会非常有利可图。如果市场屈服于当前价格疲软的担忧，以较低的价格持有标普500股票也并不可怕。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/why-j-p-morgan-says-now-is-the-time-to-bet-on-the-s-p-500-51614090217?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/why-j-p-morgan-says-now-is-the-time-to-bet-on-the-s-p-500-51614090217?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129467108","content_text":"Don’t worry. Be greedy.Even though investor fears are rising, and the stock market is getting bullied by rising bond yields,J.P. Morganstrategists have told their clients that now is the time to embrace stocks.TheS&P 500may be waffling around 3875, but the bank is standing by its 2021 year-end price target of 4400 on a range of 4200 to 4600. Its numbers aren’t merely some derivative of the stock market’s expected earnings. Instead, they reflect America’s economic reawakening after the Covid-19 pandemic.Shawn Quigg, a J.P. Morgan derivatives strategist, recently told clients that there is little to stand in the way of the market’s achievement of “such gains sooner than later, particularly considering the numerous catalysts ahead, their impact on volatility, and the implications that will have on investor positioning.”As President Joe Biden’s administration champions a $1.9 trillion stimulus program, and Covid-19 infections and hospitalizations decline, Quigg anticipates stocks surging. His view is somewhat at odds with recent trading. Stocks have declined as the 10-year Treasury note yield has increased to about 1.38%, a move that is fanning inflation fearsand worries about stock slumps.Quigg likes taking advantage of the fear and the pending stimulus program, which Biden has begun to defend against concerns that it is too large. In various interviews, the president has challenged critics to tell him what to cut at a time when so much of the nation is suffering. The Biden administration is now warning that the greatest risk isn’t a large stimulus package, but one that is too small and thus doesn’t meaningfully stimulate economic growth.To position for the stock market to surge higher, Quigg advised clients to consider selling one of the SPDR S&P 500 ETF‘s (ticker: SPY) May $353 put options and buying 15 May $450 call options. When the ETF was at $392.39, the leveraged risk-reversal strategy—that is,selling one put and buying many more calls with a higher strike price but the same expiration—could be done for no cost. In other words, the money received for selling the put was enough to buy 15 bullish calls.The trade expresses high conviction that the ETF—which was recently trading around $387—will reach $450 by May 21, when May options expire. At $460, the call is worth $10.Should the ETF decline, say, because current fears push the market below the $353 strike price, investors would be obligated to buy it at the lower price, or to cover or adjust the puts.Quigg’s trade idea has a lot to admire.For one, the trade carried zero cost when it was recommended late last week. Yes, prices have moved since the Feb. 18 note was published, but investors can recast strike prices to create similar pricing. The markets change, and that’s why there are so many different strike prices that are listed.Moreover, if J.P. Morgan’s base view of the economic reawakening proves true, owning a bundle of upside calls that cost nothing could be quite lucrative. Should the market succumb to the current fears that are weakening prices, owning S&P 500 stocks at lower prices isn’t terrible, either.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1080,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":360986674,"gmtCreate":1613810447098,"gmtModify":1634552128640,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Wow! [龇牙]&nbsp;","listText":"Wow! [龇牙]&nbsp;","text":"Wow! [龇牙]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/360986674","repostId":"1143100356","repostType":4,"isVote":1,"tweetType":1,"viewCount":582,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":362391290,"gmtCreate":1614593846810,"gmtModify":1703478593245,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Ooooo! [开心]&nbsp;","listText":"Ooooo! [开心]&nbsp;","text":"Ooooo! [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/362391290","repostId":"1135866043","repostType":4,"isVote":1,"tweetType":1,"viewCount":1458,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":368580653,"gmtCreate":1614337779972,"gmtModify":1703476563722,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Bitcoin!!","listText":"Bitcoin!!","text":"Bitcoin!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/368580653","repostId":"1117820997","repostType":4,"isVote":1,"tweetType":1,"viewCount":233,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360156072,"gmtCreate":1613875021096,"gmtModify":1634552005245,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"[冷漠]&nbsp;[冷漠]&nbsp;noooo","listText":"[冷漠]&nbsp;[冷漠]&nbsp;noooo","text":"[冷漠] [冷漠] noooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/360156072","repostId":"2112149478","repostType":4,"isVote":1,"tweetType":1,"viewCount":800,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":186489021,"gmtCreate":1623521542163,"gmtModify":1634032159382,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186489021","repostId":"2142878860","repostType":4,"isVote":1,"tweetType":1,"viewCount":2064,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":188768652,"gmtCreate":1623462408676,"gmtModify":1631884647492,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Post","listText":"Post","text":"Post","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/188768652","repostId":"1131421513","repostType":4,"isVote":1,"tweetType":1,"viewCount":1103,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186480480,"gmtCreate":1623521527140,"gmtModify":1634032159627,"author":{"id":"3575424579362415","authorId":"3575424579362415","name":"RosalindLynn","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575424579362415","authorIdStr":"3575424579362415"},"themes":[],"htmlText":"Yay","listText":"Yay","text":"Yay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186480480","repostId":"2142788457","repostType":4,"isVote":1,"tweetType":1,"viewCount":1226,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}