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Topwong

Topwong

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2021-11-27

$Alibaba(BABA)$Fking alibaba

2021-07-22

Buy!!

'Buy The Dip' Investors Pile Into These 6 Stocks For Fast Gains<blockquote>“逢低买入”投资者涌入这6只股票以快速获利</blockquote>

2021-07-03

Hmm

These 15 stocks -- June's biggest losers -- could become July's winners<blockquote>这15只股票——6月份跌幅最大的股票——可能成为7月份的赢家</blockquote>

2021-07-02

Grow

S&P 500 winning streak extends to sixth straight record close<blockquote>标普500连胜纪录延续至六连胜纪录收盘</blockquote>

2021-06-26

Yes to apple too!!

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2021-06-26

Yes!! It will!!!

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2021-06-25

Huats

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2021-06-22

Think the missles already hit the cryto market

Powell Just Launched $2 Trillion In "Heat-Seeking Missiles": Zoltan Explains How The Fed Started The Next Repo Crisis<blockquote>鲍威尔刚刚发射了2万亿美元的“热寻导弹”：Zoltan解释美联储如何开启下一次回购危机</blockquote>

2021-06-22

Gg

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2021-06-21

Hmm

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2021-06-19

Let it crash-

3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%<blockquote>华尔街预测3只模因股将暴跌20%以上</blockquote>

2021-06-17

Hmmm

Amazon Stock Has Underperformed. Two Analysts Advise Buying Now.<blockquote>亚马逊股票表现不佳。两位分析师建议立即买入。</blockquote>

2021-06-17

The world bank still love fiat currency

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2021-06-17

So will gold go up??

What lumber and gold prices tell us about the stock market's next move<blockquote>木材和黄金价格告诉我们股市的下一步走势</blockquote>

2021-06-17

Prata again

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2021-06-16

Good

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2021-06-15

Hmm 40 still cheap?

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2021-06-14

Hmmm

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2021-06-13

Great!//@Thengz:Like please

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2021-06-12

Wow

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22:00","market":"us","language":"en","title":"'Buy The Dip' Investors Pile Into These 6 Stocks For Fast Gains<blockquote>“逢低买入”投资者涌入这6只股票以快速获利</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109369259","media":"investors","summary":"S&P 500 investors are bravely buying dipsfollowing sell-offs like never before. And they're showing ","content":"<p>S&amp;P 500 investors are bravely buying dipsfollowing sell-offs like never before. And they're showing some of theirfavorite stocks to scoop up.</p><p><blockquote>标普500投资者在前所未有的抛售后勇敢地逢低买入。他们还展示了一些他们最喜欢的股票。</blockquote></p><p> Six stocks in the S&amp;P 500, including industrial plays<b>Dover</b>(DOV) and<b>Teledyne Technologies</b>(TDY) plustech stock<b>PTC</b>(PTC), surged more than 3% from their 50-day moving averages Tuesday. And that's after all these S&amp;P 500 stocks fell this week to just 1% from their 50-day — or even dropped below it.</p><p><blockquote>标普500的六只股票，包括工业股<b>多佛</b>(DOV)和<b>Teledyne技术公司</b>(TDY)plustech股票<b>PTC</b>(PTC)周二较50日移动均线飙升逾3%。在此之前，所有这些标普500股票本周均较50日跌幅仅为1%，甚至跌破50日跌幅。</blockquote></p><p> The 50-day moving average is a widely watchedprice level at which stocks seek supportbefore falling more. And all these S&amp;P 500 stocks highlight how investors continue to brazenly buy stocks — even after they sell-off to near or even below this key level. And that \"buy-the-dip\" mentality is running the entire S&amp;P 500.</p><p><blockquote>50日移动平均线是一个广泛关注的价格水平，股票在进一步下跌之前寻求支撑。所有这些标普500股票都凸显了投资者如何继续厚颜无耻地购买股票——即使在他们抛售到接近甚至低于这一关键水平之后。这种“逢低买入”的心态贯穿了整个标普500。</blockquote></p><p> \"The S&amp;P 500 has shown exceptional resilience this year in bouncing whenever it has tested its 50-day moving average,\" says Bespoke Investment Group.</p><p><blockquote>Bespoke Investment Group表示：“标普500今年在测试50日移动平均线时都表现出了非凡的反弹韧性。”</blockquote></p><p> The Amazingly Resilient S&amp;P 500</p><p><blockquote>令人惊讶的韧性标普500</blockquote></p><p> Already this year, the S&amp;P 500 closed below its 50-day moving average four times, Bespoke found. That's roughly in-line with history. Typically it happens eight times annually, and we'reroughly halfway through the year.</p><p><blockquote>Bespoke发现，今年以来，标普500已四次收于50日移动均线下方。这大致符合历史。通常这种情况每年发生八次，而我们大约已经过了一年的一半。</blockquote></p><p> But here's the interesting part that shows how \"buying the dip\" is in vogue. In just one week following the S&amp;P 500 falling below its 50-day moving average each time this year, it gained 3.95% on average.</p><p><blockquote>但有趣的部分显示了“逢低买入”是如何流行的。标普500今年每次跌破50日均线后的短短一周内，平均上涨了3.95%。</blockquote></p><p> That's an astounding level of bounce back. Historically, the S&amp;P 500 only inched up 0.06% in the week after dropping to the 50-day moving average since 1945. And this year's average one-week bounce back ranks No. 1 for any year since at least World War II, Bespoke says.</p><p><blockquote>这是一个惊人的反弹水平。从历史上看，标普500在跌至1945年以来的50日移动平均线后，本周仅小幅上涨0.06%。Bespoke表示，今年的平均一周反弹幅度至少在二战以来的任何一年中排名第一。</blockquote></p><p> And it's not just a short bounce either. Following its drops below the 50-day moving average this year, the S&amp;P 500 was 5.7% higher, on average, a month later. That's much higher than the S&amp;P 500's typical 0.54% rise following drops to below the 50-week moving average going back to 1945.</p><p><blockquote>这也不仅仅是短暂的反弹。继今年跌破50日移动平均线后，一个月后标普500平均上涨5.7%。这远高于标普500自1945年以来跌破50周移动平均线后0.54%的典型涨幅。</blockquote></p><p> But what kinds ofstocks bounce back?</p><p><blockquote>但什么样的股票会反弹呢？</blockquote></p><p> Looking At This Week's S&amp;P 500 Sell-Off</p><p><blockquote>看看本周的标普500抛售</blockquote></p><p> Monday's sell-off didn't quite knock the S&amp;P 500 below its 50-day moving average at the close. The S&amp;P 500 hit the 50-day and bounced intraday.</p><p><blockquote>周一的抛售并没有让标普500在收盘时跌破50日移动平均线。标普500触及50日线，盘中反弹。</blockquote></p><p> But a look at how some individual stocks behaved gives a taste of what buy-the-dip investors are doing now. Take Dover, a maker of a variety of industrial parts and supplies. Shares were up more than 20% this year up until the sell-off on Monday. The stock then slid to just 1% above its 50-day line. But thatlured in the dip buyers, who pushed shares up 7.7% from the 50-day moving average.</p><p><blockquote>但看看一些个股的表现，就可以了解到逢低买入的投资者现在在做什么。以多佛为例，它是一家生产各种工业零部件和用品的公司。截至周一的抛售，该股今年已上涨超过20%。随后该股跌至仅比50日线高出1%。但这吸引了逢低买家，推动股价较50日移动平均线上涨7.7%。</blockquote></p><p> Investors also like to think of S&amp;P 500 tech stocks as buy-the-dip plays. But this week's example isn't a household name. PTC, a tech firm that helps companies upgrade their operations, Monday dropped to just 1% above its 50-day moving average, but since then it's blasted nearly 6% from that key support level.</p><p><blockquote>投资者也喜欢将标普500科技股视为逢低买入。但是本周的例子并不是一个家喻户晓的名字。PTC是一家帮助企业升级运营的科技公司，周一股价跌至仅比50日移动均线高出1%，但此后较关键支撑位上涨了近6%。</blockquote></p><p> Even some S&amp;P 500 stocks that closed below their 50-day lines bounced in a big way. Teledyne Technologies actually ended Monday 0.4% below its 50-day moving average. But on Tuesday, it already sprung up more than 3% from the 50-day.</p><p><blockquote>甚至一些收盘低于50日线的标普500股票也出现了大幅反弹。Teledyne Technologies周一收盘价实际上比50日移动平均线低0.4%。但周二，该股已较50日上涨逾3%。</blockquote></p><p> Just don't assume this buy-the-dip mentality will last forever.Savvy investors know to monitor other key market indicators, too.</p><p><blockquote>只是不要认为这种逢低买入的心态会永远持续下去。精明的投资者也知道要监控其他关键市场指标。</blockquote></p><p> \"While the S&amp;P 500's ability to repeatedly bounce at its 50-day moving average this year has been impressive and even historic, enjoy it while it lasts,\" Bespoke says. \"We can guarantee that it won't last forever.\"</p><p><blockquote>Bespoke表示：“虽然标普500今年在50日移动平均线上反复反弹的能力令人印象深刻，甚至是历史性的，但请在它持续的时候享受它。”“我们可以保证它不会永远持续下去。”</blockquote></p><p> S&amp;P 500's Bounceback Kids</p><p><blockquote>标普500的反弹儿童</blockquote></p><p> <i>All jumped 3% or more from 50-day moving averages after falling to 1% or less of the support level on Monday</i></p><p><blockquote><i>周一跌至支撑位1%或以下后，均较50日移动均线上涨3%或以上</i></blockquote></p><p> <img src=\"https://static.tigerbbs.com/9a0c73b146850cc5605f77603a6de6bc\" tg-width=\"821\" tg-height=\"400\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>","source":"lsy1610449120050","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>'Buy The Dip' Investors Pile Into These 6 Stocks For Fast Gains<blockquote>“逢低买入”投资者涌入这6只股票以快速获利</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\">\n'Buy The Dip' Investors Pile Into These 6 Stocks For Fast Gains<blockquote>“逢低买入”投资者涌入这6只股票以快速获利</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">investors</strong><span class=\"h-time small\">2021-07-21 22:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>S&amp;P 500 investors are bravely buying dipsfollowing sell-offs like never before. And they're showing some of theirfavorite stocks to scoop up.</p><p><blockquote>标普500投资者在前所未有的抛售后勇敢地逢低买入。他们还展示了一些他们最喜欢的股票。</blockquote></p><p> Six stocks in the S&amp;P 500, including industrial plays<b>Dover</b>(DOV) and<b>Teledyne Technologies</b>(TDY) plustech stock<b>PTC</b>(PTC), surged more than 3% from their 50-day moving averages Tuesday. And that's after all these S&amp;P 500 stocks fell this week to just 1% from their 50-day — or even dropped below it.</p><p><blockquote>标普500的六只股票，包括工业股<b>多佛</b>(DOV)和<b>Teledyne技术公司</b>(TDY)plustech股票<b>PTC</b>(PTC)周二较50日移动均线飙升逾3%。在此之前，所有这些标普500股票本周均较50日跌幅仅为1%，甚至跌破50日跌幅。</blockquote></p><p> The 50-day moving average is a widely watchedprice level at which stocks seek supportbefore falling more. And all these S&amp;P 500 stocks highlight how investors continue to brazenly buy stocks — even after they sell-off to near or even below this key level. And that \"buy-the-dip\" mentality is running the entire S&amp;P 500.</p><p><blockquote>50日移动平均线是一个广泛关注的价格水平，股票在进一步下跌之前寻求支撑。所有这些标普500股票都凸显了投资者如何继续厚颜无耻地购买股票——即使在他们抛售到接近甚至低于这一关键水平之后。这种“逢低买入”的心态贯穿了整个标普500。</blockquote></p><p> \"The S&amp;P 500 has shown exceptional resilience this year in bouncing whenever it has tested its 50-day moving average,\" says Bespoke Investment Group.</p><p><blockquote>Bespoke Investment Group表示：“标普500今年在测试50日移动平均线时都表现出了非凡的反弹韧性。”</blockquote></p><p> The Amazingly Resilient S&amp;P 500</p><p><blockquote>令人惊讶的韧性标普500</blockquote></p><p> Already this year, the S&amp;P 500 closed below its 50-day moving average four times, Bespoke found. That's roughly in-line with history. Typically it happens eight times annually, and we'reroughly halfway through the year.</p><p><blockquote>Bespoke发现，今年以来，标普500已四次收于50日移动均线下方。这大致符合历史。通常这种情况每年发生八次，而我们大约已经过了一年的一半。</blockquote></p><p> But here's the interesting part that shows how \"buying the dip\" is in vogue. In just one week following the S&amp;P 500 falling below its 50-day moving average each time this year, it gained 3.95% on average.</p><p><blockquote>但有趣的部分显示了“逢低买入”是如何流行的。标普500今年每次跌破50日均线后的短短一周内，平均上涨了3.95%。</blockquote></p><p> That's an astounding level of bounce back. Historically, the S&amp;P 500 only inched up 0.06% in the week after dropping to the 50-day moving average since 1945. And this year's average one-week bounce back ranks No. 1 for any year since at least World War II, Bespoke says.</p><p><blockquote>这是一个惊人的反弹水平。从历史上看，标普500在跌至1945年以来的50日移动平均线后，本周仅小幅上涨0.06%。Bespoke表示，今年的平均一周反弹幅度至少在二战以来的任何一年中排名第一。</blockquote></p><p> And it's not just a short bounce either. Following its drops below the 50-day moving average this year, the S&amp;P 500 was 5.7% higher, on average, a month later. That's much higher than the S&amp;P 500's typical 0.54% rise following drops to below the 50-week moving average going back to 1945.</p><p><blockquote>这也不仅仅是短暂的反弹。继今年跌破50日移动平均线后，一个月后标普500平均上涨5.7%。这远高于标普500自1945年以来跌破50周移动平均线后0.54%的典型涨幅。</blockquote></p><p> But what kinds ofstocks bounce back?</p><p><blockquote>但什么样的股票会反弹呢？</blockquote></p><p> Looking At This Week's S&amp;P 500 Sell-Off</p><p><blockquote>看看本周的标普500抛售</blockquote></p><p> Monday's sell-off didn't quite knock the S&amp;P 500 below its 50-day moving average at the close. The S&amp;P 500 hit the 50-day and bounced intraday.</p><p><blockquote>周一的抛售并没有让标普500在收盘时跌破50日移动平均线。标普500触及50日线，盘中反弹。</blockquote></p><p> But a look at how some individual stocks behaved gives a taste of what buy-the-dip investors are doing now. Take Dover, a maker of a variety of industrial parts and supplies. Shares were up more than 20% this year up until the sell-off on Monday. The stock then slid to just 1% above its 50-day line. But thatlured in the dip buyers, who pushed shares up 7.7% from the 50-day moving average.</p><p><blockquote>但看看一些个股的表现，就可以了解到逢低买入的投资者现在在做什么。以多佛为例，它是一家生产各种工业零部件和用品的公司。截至周一的抛售，该股今年已上涨超过20%。随后该股跌至仅比50日线高出1%。但这吸引了逢低买家，推动股价较50日移动平均线上涨7.7%。</blockquote></p><p> Investors also like to think of S&amp;P 500 tech stocks as buy-the-dip plays. But this week's example isn't a household name. PTC, a tech firm that helps companies upgrade their operations, Monday dropped to just 1% above its 50-day moving average, but since then it's blasted nearly 6% from that key support level.</p><p><blockquote>投资者也喜欢将标普500科技股视为逢低买入。但是本周的例子并不是一个家喻户晓的名字。PTC是一家帮助企业升级运营的科技公司，周一股价跌至仅比50日移动均线高出1%，但此后较关键支撑位上涨了近6%。</blockquote></p><p> Even some S&amp;P 500 stocks that closed below their 50-day lines bounced in a big way. Teledyne Technologies actually ended Monday 0.4% below its 50-day moving average. But on Tuesday, it already sprung up more than 3% from the 50-day.</p><p><blockquote>甚至一些收盘低于50日线的标普500股票也出现了大幅反弹。Teledyne Technologies周一收盘价实际上比50日移动平均线低0.4%。但周二，该股已较50日上涨逾3%。</blockquote></p><p> Just don't assume this buy-the-dip mentality will last forever.Savvy investors know to monitor other key market indicators, too.</p><p><blockquote>只是不要认为这种逢低买入的心态会永远持续下去。精明的投资者也知道要监控其他关键市场指标。</blockquote></p><p> \"While the S&amp;P 500's ability to repeatedly bounce at its 50-day moving average this year has been impressive and even historic, enjoy it while it lasts,\" Bespoke says. \"We can guarantee that it won't last forever.\"</p><p><blockquote>Bespoke表示：“虽然标普500今年在50日移动平均线上反复反弹的能力令人印象深刻，甚至是历史性的，但请在它持续的时候享受它。”“我们可以保证它不会永远持续下去。”</blockquote></p><p> S&amp;P 500's Bounceback Kids</p><p><blockquote>标普500的反弹儿童</blockquote></p><p> <i>All jumped 3% or more from 50-day moving averages after falling to 1% or less of the support level on Monday</i></p><p><blockquote><i>周一跌至支撑位1%或以下后，均较50日移动均线上涨3%或以上</i></blockquote></p><p> <img src=\"https://static.tigerbbs.com/9a0c73b146850cc5605f77603a6de6bc\" tg-width=\"821\" tg-height=\"400\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investors.com/etfs-and-funds/sectors/sp500-buy-the-dip-investors-pile-into-these-stocks-for-fast-gains/?src=A00220\">investors</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":{".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.investors.com/etfs-and-funds/sectors/sp500-buy-the-dip-investors-pile-into-these-stocks-for-fast-gains/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109369259","content_text":"S&P 500 investors are bravely buying dipsfollowing sell-offs like never before. And they're showing some of theirfavorite stocks to scoop up.\nSix stocks in the S&P 500, including industrial playsDover(DOV) andTeledyne Technologies(TDY) plustech stockPTC(PTC), surged more than 3% from their 50-day moving averages Tuesday. And that's after all these S&P 500 stocks fell this week to just 1% from their 50-day — or even dropped below it.\nThe 50-day moving average is a widely watchedprice level at which stocks seek supportbefore falling more. And all these S&P 500 stocks highlight how investors continue to brazenly buy stocks — even after they sell-off to near or even below this key level. And that \"buy-the-dip\" mentality is running the entire S&P 500.\n\"The S&P 500 has shown exceptional resilience this year in bouncing whenever it has tested its 50-day moving average,\" says Bespoke Investment Group.\nThe Amazingly Resilient S&P 500\nAlready this year, the S&P 500 closed below its 50-day moving average four times, Bespoke found. That's roughly in-line with history. Typically it happens eight times annually, and we'reroughly halfway through the year.\nBut here's the interesting part that shows how \"buying the dip\" is in vogue. In just one week following the S&P 500 falling below its 50-day moving average each time this year, it gained 3.95% on average.\nThat's an astounding level of bounce back. Historically, the S&P 500 only inched up 0.06% in the week after dropping to the 50-day moving average since 1945. And this year's average one-week bounce back ranks No. 1 for any year since at least World War II, Bespoke says.\nAnd it's not just a short bounce either. Following its drops below the 50-day moving average this year, the S&P 500 was 5.7% higher, on average, a month later. That's much higher than the S&P 500's typical 0.54% rise following drops to below the 50-week moving average going back to 1945.\nBut what kinds ofstocks bounce back?\nLooking At This Week's S&P 500 Sell-Off\nMonday's sell-off didn't quite knock the S&P 500 below its 50-day moving average at the close. The S&P 500 hit the 50-day and bounced intraday.\nBut a look at how some individual stocks behaved gives a taste of what buy-the-dip investors are doing now. Take Dover, a maker of a variety of industrial parts and supplies. Shares were up more than 20% this year up until the sell-off on Monday. The stock then slid to just 1% above its 50-day line. But thatlured in the dip buyers, who pushed shares up 7.7% from the 50-day moving average.\nInvestors also like to think of S&P 500 tech stocks as buy-the-dip plays. But this week's example isn't a household name. PTC, a tech firm that helps companies upgrade their operations, Monday dropped to just 1% above its 50-day moving average, but since then it's blasted nearly 6% from that key support level.\nEven some S&P 500 stocks that closed below their 50-day lines bounced in a big way. Teledyne Technologies actually ended Monday 0.4% below its 50-day moving average. But on Tuesday, it already sprung up more than 3% from the 50-day.\nJust don't assume this buy-the-dip mentality will last forever.Savvy investors know to monitor other key market indicators, too.\n\"While the S&P 500's ability to repeatedly bounce at its 50-day moving average this year has been impressive and even historic, enjoy it while it lasts,\" Bespoke says. \"We can guarantee that it won't last forever.\"\nS&P 500's Bounceback Kids\nAll jumped 3% or more from 50-day moving averages after falling to 1% or less of the support level on Monday","news_type":1,"symbols_score_info":{"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2760,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152636949,"gmtCreate":1625286600081,"gmtModify":1631890378925,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/152636949","repostId":"1122056398","repostType":4,"repost":{"id":"1122056398","kind":"news","pubTimestamp":1625280707,"share":"https://www.laohu8.com/m/news/1122056398?lang=zh_CN&edition=full","pubTime":"2021-07-03 10:51","market":"us","language":"en","title":"These 15 stocks -- June's biggest losers -- could become July's winners<blockquote>这15只股票——6月份跌幅最大的股票——可能成为7月份的赢家</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122056398","media":"MarketWatch","summary":"‘Short-term reversal strategy’ often does particularly well in July.\n\nJune’s worst stocks are good b","content":"<p>  <b>‘Short-term reversal strategy’ often does particularly well in July.</b>  June’s worst stocks are good bets to beat the U.S. market in in July.</p><p><blockquote><b>“短期反转策略”通常在7月份表现特别好。</b>6月份表现最差的股票是7月份跑赢美国市场的好机会。</blockquote></p><p> That’s because portfolio window-dressing at the end of June will have made that month’s poor performers fall even further than they would have otherwise. It’s likely that once this artificial selling pressure disappears, these stocks will bounce back.</p><p><blockquote>这是因为6月底的投资组合装饰将使当月表现不佳的股票比其他情况下下跌得更远。一旦这种人为的抛售压力消失，这些股票很可能会反弹。</blockquote></p><p> To be sure, window dressing is a powerful force on several occasions throughout the calendar, not just at this time of year. It should have the biggest impact at the end of December, since more investors look at their portfolio holdings in early January than in any other month of the year. Fund managers therefore go out of their way to sell their losers prior to Dec. 31 in order to avoid the embarrassment of having to report that they had ever owned them.</p><p><blockquote>可以肯定的是，装点门面在整个日历中的几个场合都是一股强大的力量，不仅仅是在一年中的这个时候。它应该在12月底产生最大的影响，因为1月初查看其投资组合持股的投资者比一年中任何其他月份都多。因此，基金经理会特意在12月31日之前出售亏损股票，以避免不得不报告他们曾经拥有过这些股票的尴尬。</blockquote></p><p> Just the opposite is the case for stocks that managers buy for window dressing. These are the stocks that already have been performing well and which managers want to show in their end-of-quarter holdings report. Their cosmetic buying will cause these stocks to perform even better — which, in turn, results in them falling back to earth once the new quarter comes around.</p><p><blockquote>经理们为了装饰门面而购买的股票的情况恰恰相反。这些股票已经表现良好，经理们希望在季末持股报告中展示这些股票。他们购买化妆品将导致这些股票表现更好——这反过来又会导致它们在新季度到来时回落。</blockquote></p><p> As expected, January is the month in which the previous month’s worst performers fare best relative to the previous month’s best performers — a pattern known as the “short term reversal effect.” This is illustrated in the chart below, which reflects monthly data back to 1926. July is the second-most powerful month for this pattern. That also makes sense because, after January, July is the next most common time for investors to read through their brokerage statements.</p><p><blockquote>正如预期的那样，一月份是上个月表现最差的公司相对于上个月表现最好的公司表现最好的月份——这种模式被称为“短期逆转效应”。下图说明了这一点，它反映了1926年以来的月度数据。七月是这种模式第二强的月份。这也是有道理的，因为继一月之后，七月是投资者通读经纪报表的下一个最常见的时间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6ac3a509127efd603df1d98de04774e7\" tg-width=\"620\" tg-height=\"418\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Also as expected, end-of-quarter window dressing is less of a factor at the end of the first- and third quarters. In fact, as you can see from the chart, the short-term reversal effect is even less dominant in April than in non-quarter-end months.</p><p><blockquote>同样正如预期的那样，在第一季度和第三季度末，季度末的门面装饰不再是一个因素。事实上，正如你从图表中看到的，短期反转效应在4月份甚至不如非季末月份占优势。</blockquote></p><p> <b>How to play the short-term reversal in July</b></p><p><blockquote><b>7月短线反转怎么玩</b></blockquote></p><p> As is often the case, an exchange-traded fund has been created to exploit the short-term reversal effect. Vesper US Large Cap Short-Term Reversal Strategy ETFUTRN,“seeks to capitalize on the tendency for stocks that have experienced sharp recent sell-offs to experience near-term rebounds.”</p><p><blockquote>通常情况下，交易所交易基金的创建是为了利用短期反转效应。Vesper美国大盘股短期反转策略ETFUTRN“寻求利用近期经历大幅抛售的股票近期反弹的趋势。”</blockquote></p><p> Because the fund was only recently created, in September 2018, the ETF’s average monthly returns since then are only suggestive of the long-term pattern. But its average return in July has been better (4.1%) than in any other month.</p><p><blockquote>由于该基金是最近才在2018年9月创建的，该ETF此后的平均月回报率仅暗示了长期模式。但其7月份的平均回报率（4.1%）好于其他任何月份。</blockquote></p><p> For anyone interested in the individual stocks that performed the worst in June, I constructed the following list. I started with the 50 stocks in the S&amp;P 1500 index with the worst June returns, and then eliminated ones not currently recommended by any of the top-performing newsletters monitored by my newsletter-performance-tracking service.</p><p><blockquote>对于任何对6月份表现最差的个股感兴趣的人，我构建了以下列表。我从标准普尔1500指数中6月份回报最差的50只股票开始，然后剔除了我的时事通讯表现跟踪服务监控的任何表现最好的时事通讯目前不推荐的股票。</blockquote></p><p> The 15 stocks listed below survived this winnowing process. I note that, on average, these 15 lost 15.4% during the month of June, versus a gain of 2.3% for the S&amp;P 500SPX.</p><p><blockquote>下面列出的15只股票在这一筛选过程中幸存下来。我注意到，平均而言，这15只股票在6月份下跌了15.4%，而标准普尔500SPX指数则上涨了2.3%。</blockquote></p><p> <ul>  <li>Adient PLC&nbsp;ADNT</li>  <li>Alaska Air Group&nbsp;ALK</li>  <li>Alliance Data Systems&nbsp;ADS</li>  <li>America’s Car Mart&nbsp;CRMT</li>  <li>ArcBest&nbsp;ARCB</li>  <li>Goodyear Tire &amp; Rubber&nbsp;GT</li>  <li>KB Home&nbsp;KBH</li>  <li>LCI Industries&nbsp;LCII</li>  <li>Mosaic &amp; Co&nbsp;.MOS</li>  <li>Medifast&nbsp;MED</li>  <li>Newmont Corp.&nbsp;NEM</li>  <li>Organon &amp; Co.&nbsp;OGN</li>  <li>Patrick Industries&nbsp;PATK</li>  <li>Regions Financial&nbsp;RF</li>  <li>Sabre&nbsp;SABR</li> </ul> I also note that these stocks have an average price/book value ratio of 3.3, which is well-below the 4.7 ratio for the S&amp;P 500. Having a below-average price/book ratio is the hallmark of a value stock, and it makes sense that value stocks will be favored by the short-term reversal strategy. That’s because value stocks significantly underperformed growth stocks in June — but their fortunes may soon change.</p><p><blockquote><ul><li>Adient PLC ADNT</li><li>阿拉斯加航空集团ALK</li><li>联盟数据系统广告</li><li>美国汽车市场CRMT</li><li>ArcBest ArcB</li><li>固特异轮胎橡胶GT</li><li>KB主页KBH</li><li>LCI工业LCII</li><li>马赛克公司MOS</li><li>快验快</li><li>纽蒙特公司NEM</li><li>欧加农公司OGN</li><li>帕特里克工业PATK</li><li>地区金融射频</li><li>军刀</li></ul>我还注意到，这些股票的平均市净率为3.3，远低于标普500 4.7的比率。低于平均水平的市净率是价值股的标志，价值股会受到短期反转策略的青睐是有道理的。这是因为价值股在6月份的表现明显落后于成长股——但它们的命运可能很快就会改变。</blockquote></p><p></p>","source":"lsy1603348471595","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>These 15 stocks -- June's biggest losers -- could become July's winners<blockquote>这15只股票——6月份跌幅最大的股票——可能成为7月份的赢家</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\">\nThese 15 stocks -- June's biggest losers -- could become July's winners<blockquote>这15只股票——6月份跌幅最大的股票——可能成为7月份的赢家</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-03 10:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>‘Short-term reversal strategy’ often does particularly well in July.</b>  June’s worst stocks are good bets to beat the U.S. market in in July.</p><p><blockquote><b>“短期反转策略”通常在7月份表现特别好。</b>6月份表现最差的股票是7月份跑赢美国市场的好机会。</blockquote></p><p> That’s because portfolio window-dressing at the end of June will have made that month’s poor performers fall even further than they would have otherwise. It’s likely that once this artificial selling pressure disappears, these stocks will bounce back.</p><p><blockquote>这是因为6月底的投资组合装饰将使当月表现不佳的股票比其他情况下下跌得更远。一旦这种人为的抛售压力消失，这些股票很可能会反弹。</blockquote></p><p> To be sure, window dressing is a powerful force on several occasions throughout the calendar, not just at this time of year. It should have the biggest impact at the end of December, since more investors look at their portfolio holdings in early January than in any other month of the year. Fund managers therefore go out of their way to sell their losers prior to Dec. 31 in order to avoid the embarrassment of having to report that they had ever owned them.</p><p><blockquote>可以肯定的是，装点门面在整个日历中的几个场合都是一股强大的力量，不仅仅是在一年中的这个时候。它应该在12月底产生最大的影响，因为1月初查看其投资组合持股的投资者比一年中任何其他月份都多。因此，基金经理会特意在12月31日之前出售亏损股票，以避免不得不报告他们曾经拥有过这些股票的尴尬。</blockquote></p><p> Just the opposite is the case for stocks that managers buy for window dressing. These are the stocks that already have been performing well and which managers want to show in their end-of-quarter holdings report. Their cosmetic buying will cause these stocks to perform even better — which, in turn, results in them falling back to earth once the new quarter comes around.</p><p><blockquote>经理们为了装饰门面而购买的股票的情况恰恰相反。这些股票已经表现良好，经理们希望在季末持股报告中展示这些股票。他们购买化妆品将导致这些股票表现更好——这反过来又会导致它们在新季度到来时回落。</blockquote></p><p> As expected, January is the month in which the previous month’s worst performers fare best relative to the previous month’s best performers — a pattern known as the “short term reversal effect.” This is illustrated in the chart below, which reflects monthly data back to 1926. July is the second-most powerful month for this pattern. That also makes sense because, after January, July is the next most common time for investors to read through their brokerage statements.</p><p><blockquote>正如预期的那样，一月份是上个月表现最差的公司相对于上个月表现最好的公司表现最好的月份——这种模式被称为“短期逆转效应”。下图说明了这一点，它反映了1926年以来的月度数据。七月是这种模式第二强的月份。这也是有道理的，因为继一月之后，七月是投资者通读经纪报表的下一个最常见的时间。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6ac3a509127efd603df1d98de04774e7\" tg-width=\"620\" tg-height=\"418\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Also as expected, end-of-quarter window dressing is less of a factor at the end of the first- and third quarters. In fact, as you can see from the chart, the short-term reversal effect is even less dominant in April than in non-quarter-end months.</p><p><blockquote>同样正如预期的那样，在第一季度和第三季度末，季度末的门面装饰不再是一个因素。事实上，正如你从图表中看到的，短期反转效应在4月份甚至不如非季末月份占优势。</blockquote></p><p> <b>How to play the short-term reversal in July</b></p><p><blockquote><b>7月短线反转怎么玩</b></blockquote></p><p> As is often the case, an exchange-traded fund has been created to exploit the short-term reversal effect. Vesper US Large Cap Short-Term Reversal Strategy ETFUTRN,“seeks to capitalize on the tendency for stocks that have experienced sharp recent sell-offs to experience near-term rebounds.”</p><p><blockquote>通常情况下，交易所交易基金的创建是为了利用短期反转效应。Vesper美国大盘股短期反转策略ETFUTRN“寻求利用近期经历大幅抛售的股票近期反弹的趋势。”</blockquote></p><p> Because the fund was only recently created, in September 2018, the ETF’s average monthly returns since then are only suggestive of the long-term pattern. But its average return in July has been better (4.1%) than in any other month.</p><p><blockquote>由于该基金是最近才在2018年9月创建的，该ETF此后的平均月回报率仅暗示了长期模式。但其7月份的平均回报率（4.1%）好于其他任何月份。</blockquote></p><p> For anyone interested in the individual stocks that performed the worst in June, I constructed the following list. I started with the 50 stocks in the S&amp;P 1500 index with the worst June returns, and then eliminated ones not currently recommended by any of the top-performing newsletters monitored by my newsletter-performance-tracking service.</p><p><blockquote>对于任何对6月份表现最差的个股感兴趣的人，我构建了以下列表。我从标准普尔1500指数中6月份回报最差的50只股票开始，然后剔除了我的时事通讯表现跟踪服务监控的任何表现最好的时事通讯目前不推荐的股票。</blockquote></p><p> The 15 stocks listed below survived this winnowing process. I note that, on average, these 15 lost 15.4% during the month of June, versus a gain of 2.3% for the S&amp;P 500SPX.</p><p><blockquote>下面列出的15只股票在这一筛选过程中幸存下来。我注意到，平均而言，这15只股票在6月份下跌了15.4%，而标准普尔500SPX指数则上涨了2.3%。</blockquote></p><p> <ul>  <li>Adient PLC&nbsp;ADNT</li>  <li>Alaska Air Group&nbsp;ALK</li>  <li>Alliance Data Systems&nbsp;ADS</li>  <li>America’s Car Mart&nbsp;CRMT</li>  <li>ArcBest&nbsp;ARCB</li>  <li>Goodyear Tire &amp; Rubber&nbsp;GT</li>  <li>KB Home&nbsp;KBH</li>  <li>LCI Industries&nbsp;LCII</li>  <li>Mosaic &amp; Co&nbsp;.MOS</li>  <li>Medifast&nbsp;MED</li>  <li>Newmont Corp.&nbsp;NEM</li>  <li>Organon &amp; Co.&nbsp;OGN</li>  <li>Patrick Industries&nbsp;PATK</li>  <li>Regions Financial&nbsp;RF</li>  <li>Sabre&nbsp;SABR</li> </ul> I also note that these stocks have an average price/book value ratio of 3.3, which is well-below the 4.7 ratio for the S&amp;P 500. Having a below-average price/book ratio is the hallmark of a value stock, and it makes sense that value stocks will be favored by the short-term reversal strategy. That’s because value stocks significantly underperformed growth stocks in June — but their fortunes may soon change.</p><p><blockquote><ul><li>Adient PLC ADNT</li><li>阿拉斯加航空集团ALK</li><li>联盟数据系统广告</li><li>美国汽车市场CRMT</li><li>ArcBest ArcB</li><li>固特异轮胎橡胶GT</li><li>KB主页KBH</li><li>LCI工业LCII</li><li>马赛克公司MOS</li><li>快验快</li><li>纽蒙特公司NEM</li><li>欧加农公司OGN</li><li>帕特里克工业PATK</li><li>地区金融射频</li><li>军刀</li></ul>我还注意到，这些股票的平均市净率为3.3，远低于标普500 4.7的比率。低于平均水平的市净率是价值股的标志，价值股会受到短期反转策略的青睐是有道理的。这是因为价值股在6月份的表现明显落后于成长股——但它们的命运可能很快就会改变。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/these-15-stocks-junes-biggest-losers-could-become-julys-winners-11625238769?mod=home-page\">MarketWatch</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":{"LCII":"LCI Industries","MED":"快验保","ALK":"阿拉斯加航空集团有限公司","RF":"地区金融","PATK":"Patrick Industries","KBH":"KB Home","CRMT":"美国汽车行","ARCB":"ArcBest Corporation","SABR":"Sabre Corporation","MOS":"美国美盛","ADNT":"Adient PLC","NEM":"纽曼矿业","GT":"固特异轮胎橡胶公司","OGN":"Organon & Co"},"source_url":"https://www.marketwatch.com/story/these-15-stocks-junes-biggest-losers-could-become-julys-winners-11625238769?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122056398","content_text":"‘Short-term reversal strategy’ often does particularly well in July.\n\nJune’s worst stocks are good bets to beat the U.S. market in in July.\nThat’s because portfolio window-dressing at the end of June will have made that month’s poor performers fall even further than they would have otherwise. It’s likely that once this artificial selling pressure disappears, these stocks will bounce back.\nTo be sure, window dressing is a powerful force on several occasions throughout the calendar, not just at this time of year. It should have the biggest impact at the end of December, since more investors look at their portfolio holdings in early January than in any other month of the year. Fund managers therefore go out of their way to sell their losers prior to Dec. 31 in order to avoid the embarrassment of having to report that they had ever owned them.\nJust the opposite is the case for stocks that managers buy for window dressing. These are the stocks that already have been performing well and which managers want to show in their end-of-quarter holdings report. Their cosmetic buying will cause these stocks to perform even better — which, in turn, results in them falling back to earth once the new quarter comes around.\nAs expected, January is the month in which the previous month’s worst performers fare best relative to the previous month’s best performers — a pattern known as the “short term reversal effect.” This is illustrated in the chart below, which reflects monthly data back to 1926. July is the second-most powerful month for this pattern. That also makes sense because, after January, July is the next most common time for investors to read through their brokerage statements.\n\nAlso as expected, end-of-quarter window dressing is less of a factor at the end of the first- and third quarters. In fact, as you can see from the chart, the short-term reversal effect is even less dominant in April than in non-quarter-end months.\nHow to play the short-term reversal in July\nAs is often the case, an exchange-traded fund has been created to exploit the short-term reversal effect. Vesper US Large Cap Short-Term Reversal Strategy ETFUTRN,“seeks to capitalize on the tendency for stocks that have experienced sharp recent sell-offs to experience near-term rebounds.”\nBecause the fund was only recently created, in September 2018, the ETF’s average monthly returns since then are only suggestive of the long-term pattern. But its average return in July has been better (4.1%) than in any other month.\nFor anyone interested in the individual stocks that performed the worst in June, I constructed the following list. I started with the 50 stocks in the S&P 1500 index with the worst June returns, and then eliminated ones not currently recommended by any of the top-performing newsletters monitored by my newsletter-performance-tracking service.\nThe 15 stocks listed below survived this winnowing process. I note that, on average, these 15 lost 15.4% during the month of June, versus a gain of 2.3% for the S&P 500SPX.\n\nAdient PLC ADNT\nAlaska Air Group ALK\nAlliance Data Systems ADS\nAmerica’s Car Mart CRMT\nArcBest ARCB\nGoodyear Tire & Rubber GT\nKB Home KBH\nLCI Industries LCII\nMosaic & Co .MOS\nMedifast MED\nNewmont Corp. NEM\nOrganon & Co. OGN\nPatrick Industries PATK\nRegions Financial RF\nSabre SABR\n\nI also note that these stocks have an average price/book value ratio of 3.3, which is well-below the 4.7 ratio for the S&P 500. Having a below-average price/book ratio is the hallmark of a value stock, and it makes sense that value stocks will be favored by the short-term reversal strategy. That’s because value stocks significantly underperformed growth stocks in June — but their fortunes may soon change.","news_type":1,"symbols_score_info":{"OGN":0.9,"ADNT":0.9,"ALK":0.9,"MED":0.9,"NEM":0.9,"SABR":0.9,"GT":0.9,"LCII":0.9,"RF":0.9,"CRMT":0.9,"PATK":0.9,"ADS":0.9,"ARCB":0.9,"MOS":0.9,"KBH":0.9}},"isVote":1,"tweetType":1,"viewCount":2893,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156039390,"gmtCreate":1625185190010,"gmtModify":1631890378929,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Grow","listText":"Grow","text":"Grow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/156039390","repostId":"1175817125","repostType":4,"repost":{"id":"1175817125","kind":"news","pubTimestamp":1625180880,"share":"https://www.laohu8.com/m/news/1175817125?lang=zh_CN&edition=full","pubTime":"2021-07-02 07:08","market":"us","language":"en","title":"S&P 500 winning streak extends to sixth straight record close<blockquote>标普500连胜纪录延续至六连胜纪录收盘</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175817125","media":"Reuters","summary":"NEW YORK  - The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.Investors now eye Friday’s much-anticipated employment report.The bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.“Historical data shows if you have a strong first half, the second half of the year was ac","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.</p><p><blockquote>路透纽约4月5日电——标普500周四连续第六次创下历史收盘新高，新的季度和下半年以乐观的经济数据和广泛的反弹开始。</blockquote></p><p> Investors now eye Friday’s much-anticipated employment report.</p><p><blockquote>投资者现在关注周五备受期待的就业报告。</blockquote></p><p> The bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.</p><p><blockquote>该领头羊指数正在享受自2月初以来最长的连涨，上一次连续六次创下历史新高是在去年8月。</blockquote></p><p> “Historical data shows if you have a strong first half, the second half of the year was actually going even stronger,” said Ross Mayfield, investment strategy analyst with Baird Private Wealth.</p><p><blockquote>Baird Private Wealth投资策略分析师罗斯·梅菲尔德(Ross Mayfield)表示：“历史数据显示，如果上半年表现强劲，那么下半年实际上会更加强劲。”</blockquote></p><p> All three major U.S. stock indexes ended the session in positive territory, but a decline in tech shares - led by microchips - tempered the Nasdaq’s gain.</p><p><blockquote>美国三大股指均收涨，但以微芯片为首的科技股下跌削弱了纳斯达克的涨幅。</blockquote></p><p> The Philadelphia SE Semiconductor index slid 1.5%</p><p><blockquote>费城SE半导体指数下跌1.5%</blockquote></p><p> “For markets so far this year, boring is beautiful,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. “Economic growth has been strong enough to support prices and many asset classes are trading with historically low volatility.”</p><p><blockquote>纽约Lenox Wealth Advisors首席投资官David Carter表示：“对于今年迄今为止的市场来说，无聊是美好的。”“经济增长强劲，足以支撑价格，许多资产类别的交易波动性处于历史低位。”</blockquote></p><p> “It feels like investors left for the Fourth of July weekend about three months ago.”</p><p><blockquote>“感觉投资者大约三个月前就离开了7月4日周末。”</blockquote></p><p> The ongoing worker shortage, attributed to federal emergency unemployment benefits, a childcare shortage and lingering pandemic fears, was a common theme in the day’s economic data.</p><p><blockquote>由于联邦紧急失业救济金、儿童保育短缺和挥之不去的大流行担忧，持续的工人短缺是当天经济数据中的一个共同主题。</blockquote></p><p> Jobless claims continued their downward trajectory according to the Labor Department, touching their lowest level since the pandemic shutdown, and a report from Challenger, Gray &amp; Christmas showed planned layoffs by U.S. firms were down 88% from last year, hitting a 21-year low.</p><p><blockquote>根据劳工部的数据，初请失业金人数继续下降，达到大流行关闭以来的最低水平，Challenger，Gray&amp;Christmas的一份报告显示，美国企业的计划裁员人数比去年下降了88%，创下21年来的新低。</blockquote></p><p> Activity at U.S. factories expanded at a slightly decelerated pace in June, according to the Institute for Supply Management’s (ISM) purchasing managers’ index (PMI), with the employment component dipping into contraction for the first time since November. The prices paid index, driven higher by the current demand/supply imbalance, soared to its highest level since 1979, according to ISM.</p><p><blockquote>根据美国供应管理协会(ISM)的采购经理人指数(PMI)，6月份美国工厂活动扩张速度略有放缓，其中就业部分自11月份以来首次陷入收缩。根据ISM的数据，在当前供需失衡的推动下，支付价格指数飙升至1979年以来的最高水平。</blockquote></p><p> “The employment and manufacturing data released today supported the idea of continued growth but at a decelerated rate,” Carter added.</p><p><blockquote>卡特补充道：“今天公布的就业和制造业数据支持了持续增长但增速放缓的观点。”</blockquote></p><p> Friday’s hotly anticipated jobs report is expected to show payrolls growing by 700,000 and unemployment inching down to 5.7%. A robust upside surprise could lead the U.S. Federal Reserve to adjust its timetable for tapering its securities purchases and raising key interest rates.</p><p><blockquote>周五备受期待的就业报告预计将显示就业人数增加70万，失业率小幅下降至5.7%。强劲的上行意外可能会导致美联储调整缩减证券购买和提高关键利率的时间表。</blockquote></p><p> “Too-strong economic data could perversely be a bad thing for markets if it caused the Fed to raise rates faster than expected,” Carter said. “Weak employment data may actually be welcomed.”</p><p><blockquote>卡特表示：“如果过于强劲的经济数据导致美联储加息速度快于预期，那么对市场来说可能是一件坏事。”“疲软的就业数据实际上可能会受到欢迎。”</blockquote></p><p> The Dow Jones Industrial Average rose 131.02 points, or 0.38%, to 34,633.53, the S&amp;P 500 gained 22.44 points, or 0.52%, to 4,319.94 and the Nasdaq Composite added 18.42 points, or 0.13%, to 14,522.38.</p><p><blockquote>道琼斯工业平均指数上涨131.02点，涨幅0.38%，至34,633.53点；标普500上涨22.44点，涨幅0.52%，至4,319.94点；纳斯达克综合指数上涨18.42点，涨幅0.13%，至14,522.38点。</blockquote></p><p> Of the 11 major sectors in the S&amp;P 500, consumer staples was the sole loser, shedding 0.3%.</p><p><blockquote>在标普500的11个主要板块中，必需消费品是唯一的跌幅，下跌0.3%。</blockquote></p><p> Walgreens Boots Alliance Inc dropped 7.4% after it said it expects to administer fewer COVID-19 vaccine shots in the fourth quarter.</p><p><blockquote>沃尔格林博姿联盟公司(Walgreens Boots Alliance Inc)表示预计第四季度将减少COVID-19疫苗注射量，股价下跌7.4%。</blockquote></p><p> Didi Global Inc jumped 16.0%, on its second day of trading as a U.S.-listed company.</p><p><blockquote>滴滴出行在美国上市第二天上涨16.0%。</blockquote></p><p> Micron Technology Inc slid by 5.7% following a report that Texas Instruments would buy Micron’s Lehi, Utah, factory for $900 million.</p><p><blockquote>有报道称德州仪器(Texas Instruments)将以9亿美元收购美光科技(Micron Technology Inc)位于犹他州利希(Lehi)的工厂，该公司股价下跌5.7%。</blockquote></p><p> Advancing issues outnumbered declining ones on the NYSE by a 1.78-to-1 ratio; on Nasdaq, a 1.32-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为1.78比1；在纳斯达克，1.32比1的比率有利于上涨者。</blockquote></p><p> The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 78 new highs and 30 new lows.</p><p><blockquote>标普500创下36个52周新高，无新低；纳斯达克综合指数录得78个新高和30个新低。</blockquote></p><p> Volume on U.S. exchanges was 9.53 billion shares, compared with the 10.9 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为95.3亿股，而过去20个交易日的平均成交量为109亿股。</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>S&P 500 winning streak extends to sixth straight record close<blockquote>标普500连胜纪录延续至六连胜纪录收盘</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; 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}\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\">\nS&P 500 winning streak extends to sixth straight record close<blockquote>标普500连胜纪录延续至六连胜纪录收盘</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-07-02 07:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>NEW YORK (Reuters) - The S&amp;P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.</p><p><blockquote>路透纽约4月5日电——标普500周四连续第六次创下历史收盘新高，新的季度和下半年以乐观的经济数据和广泛的反弹开始。</blockquote></p><p> Investors now eye Friday’s much-anticipated employment report.</p><p><blockquote>投资者现在关注周五备受期待的就业报告。</blockquote></p><p> The bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.</p><p><blockquote>该领头羊指数正在享受自2月初以来最长的连涨，上一次连续六次创下历史新高是在去年8月。</blockquote></p><p> “Historical data shows if you have a strong first half, the second half of the year was actually going even stronger,” said Ross Mayfield, investment strategy analyst with Baird Private Wealth.</p><p><blockquote>Baird Private Wealth投资策略分析师罗斯·梅菲尔德(Ross Mayfield)表示：“历史数据显示，如果上半年表现强劲，那么下半年实际上会更加强劲。”</blockquote></p><p> All three major U.S. stock indexes ended the session in positive territory, but a decline in tech shares - led by microchips - tempered the Nasdaq’s gain.</p><p><blockquote>美国三大股指均收涨，但以微芯片为首的科技股下跌削弱了纳斯达克的涨幅。</blockquote></p><p> The Philadelphia SE Semiconductor index slid 1.5%</p><p><blockquote>费城SE半导体指数下跌1.5%</blockquote></p><p> “For markets so far this year, boring is beautiful,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. “Economic growth has been strong enough to support prices and many asset classes are trading with historically low volatility.”</p><p><blockquote>纽约Lenox Wealth Advisors首席投资官David Carter表示：“对于今年迄今为止的市场来说，无聊是美好的。”“经济增长强劲，足以支撑价格，许多资产类别的交易波动性处于历史低位。”</blockquote></p><p> “It feels like investors left for the Fourth of July weekend about three months ago.”</p><p><blockquote>“感觉投资者大约三个月前就离开了7月4日周末。”</blockquote></p><p> The ongoing worker shortage, attributed to federal emergency unemployment benefits, a childcare shortage and lingering pandemic fears, was a common theme in the day’s economic data.</p><p><blockquote>由于联邦紧急失业救济金、儿童保育短缺和挥之不去的大流行担忧，持续的工人短缺是当天经济数据中的一个共同主题。</blockquote></p><p> Jobless claims continued their downward trajectory according to the Labor Department, touching their lowest level since the pandemic shutdown, and a report from Challenger, Gray &amp; Christmas showed planned layoffs by U.S. firms were down 88% from last year, hitting a 21-year low.</p><p><blockquote>根据劳工部的数据，初请失业金人数继续下降，达到大流行关闭以来的最低水平，Challenger，Gray&amp;Christmas的一份报告显示，美国企业的计划裁员人数比去年下降了88%，创下21年来的新低。</blockquote></p><p> Activity at U.S. factories expanded at a slightly decelerated pace in June, according to the Institute for Supply Management’s (ISM) purchasing managers’ index (PMI), with the employment component dipping into contraction for the first time since November. The prices paid index, driven higher by the current demand/supply imbalance, soared to its highest level since 1979, according to ISM.</p><p><blockquote>根据美国供应管理协会(ISM)的采购经理人指数(PMI)，6月份美国工厂活动扩张速度略有放缓，其中就业部分自11月份以来首次陷入收缩。根据ISM的数据，在当前供需失衡的推动下，支付价格指数飙升至1979年以来的最高水平。</blockquote></p><p> “The employment and manufacturing data released today supported the idea of continued growth but at a decelerated rate,” Carter added.</p><p><blockquote>卡特补充道：“今天公布的就业和制造业数据支持了持续增长但增速放缓的观点。”</blockquote></p><p> Friday’s hotly anticipated jobs report is expected to show payrolls growing by 700,000 and unemployment inching down to 5.7%. A robust upside surprise could lead the U.S. Federal Reserve to adjust its timetable for tapering its securities purchases and raising key interest rates.</p><p><blockquote>周五备受期待的就业报告预计将显示就业人数增加70万，失业率小幅下降至5.7%。强劲的上行意外可能会导致美联储调整缩减证券购买和提高关键利率的时间表。</blockquote></p><p> “Too-strong economic data could perversely be a bad thing for markets if it caused the Fed to raise rates faster than expected,” Carter said. “Weak employment data may actually be welcomed.”</p><p><blockquote>卡特表示：“如果过于强劲的经济数据导致美联储加息速度快于预期，那么对市场来说可能是一件坏事。”“疲软的就业数据实际上可能会受到欢迎。”</blockquote></p><p> The Dow Jones Industrial Average rose 131.02 points, or 0.38%, to 34,633.53, the S&amp;P 500 gained 22.44 points, or 0.52%, to 4,319.94 and the Nasdaq Composite added 18.42 points, or 0.13%, to 14,522.38.</p><p><blockquote>道琼斯工业平均指数上涨131.02点，涨幅0.38%，至34,633.53点；标普500上涨22.44点，涨幅0.52%，至4,319.94点；纳斯达克综合指数上涨18.42点，涨幅0.13%，至14,522.38点。</blockquote></p><p> Of the 11 major sectors in the S&amp;P 500, consumer staples was the sole loser, shedding 0.3%.</p><p><blockquote>在标普500的11个主要板块中，必需消费品是唯一的跌幅，下跌0.3%。</blockquote></p><p> Walgreens Boots Alliance Inc dropped 7.4% after it said it expects to administer fewer COVID-19 vaccine shots in the fourth quarter.</p><p><blockquote>沃尔格林博姿联盟公司(Walgreens Boots Alliance Inc)表示预计第四季度将减少COVID-19疫苗注射量，股价下跌7.4%。</blockquote></p><p> Didi Global Inc jumped 16.0%, on its second day of trading as a U.S.-listed company.</p><p><blockquote>滴滴出行在美国上市第二天上涨16.0%。</blockquote></p><p> Micron Technology Inc slid by 5.7% following a report that Texas Instruments would buy Micron’s Lehi, Utah, factory for $900 million.</p><p><blockquote>有报道称德州仪器(Texas Instruments)将以9亿美元收购美光科技(Micron Technology Inc)位于犹他州利希(Lehi)的工厂，该公司股价下跌5.7%。</blockquote></p><p> Advancing issues outnumbered declining ones on the NYSE by a 1.78-to-1 ratio; on Nasdaq, a 1.32-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为1.78比1；在纳斯达克，1.32比1的比率有利于上涨者。</blockquote></p><p> The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 78 new highs and 30 new lows.</p><p><blockquote>标普500创下36个52周新高，无新低；纳斯达克综合指数录得78个新高和30个新低。</blockquote></p><p> Volume on U.S. exchanges was 9.53 billion shares, compared with the 10.9 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为95.3亿股，而过去20个交易日的平均成交量为109亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-winning-streak-extends-to-sixth-straight-record-close-idUSL2N2OD332\">Reuters</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":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-winning-streak-extends-to-sixth-straight-record-close-idUSL2N2OD332","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175817125","content_text":"NEW YORK (Reuters) - The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.\nInvestors now eye Friday’s much-anticipated employment report.\nThe bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.\n“Historical data shows if you have a strong first half, the second half of the year was actually going even stronger,” said Ross Mayfield, investment strategy analyst with Baird Private Wealth.\nAll three major U.S. stock indexes ended the session in positive territory, but a decline in tech shares - led by microchips - tempered the Nasdaq’s gain.\nThe Philadelphia SE Semiconductor index slid 1.5%\n“For markets so far this year, boring is beautiful,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. “Economic growth has been strong enough to support prices and many asset classes are trading with historically low volatility.”\n“It feels like investors left for the Fourth of July weekend about three months ago.”\nThe ongoing worker shortage, attributed to federal emergency unemployment benefits, a childcare shortage and lingering pandemic fears, was a common theme in the day’s economic data.\nJobless claims continued their downward trajectory according to the Labor Department, touching their lowest level since the pandemic shutdown, and a report from Challenger, Gray & Christmas showed planned layoffs by U.S. firms were down 88% from last year, hitting a 21-year low.\nActivity at U.S. factories expanded at a slightly decelerated pace in June, according to the Institute for Supply Management’s (ISM) purchasing managers’ index (PMI), with the employment component dipping into contraction for the first time since November. The prices paid index, driven higher by the current demand/supply imbalance, soared to its highest level since 1979, according to ISM.\n“The employment and manufacturing data released today supported the idea of continued growth but at a decelerated rate,” Carter added.\nFriday’s hotly anticipated jobs report is expected to show payrolls growing by 700,000 and unemployment inching down to 5.7%. A robust upside surprise could lead the U.S. Federal Reserve to adjust its timetable for tapering its securities purchases and raising key interest rates.\n“Too-strong economic data could perversely be a bad thing for markets if it caused the Fed to raise rates faster than expected,” Carter said. “Weak employment data may actually be welcomed.”\nThe Dow Jones Industrial Average rose 131.02 points, or 0.38%, to 34,633.53, the S&P 500 gained 22.44 points, or 0.52%, to 4,319.94 and the Nasdaq Composite added 18.42 points, or 0.13%, to 14,522.38.\nOf the 11 major sectors in the S&P 500, consumer staples was the sole loser, shedding 0.3%.\nWalgreens Boots Alliance Inc dropped 7.4% after it said it expects to administer fewer COVID-19 vaccine shots in the fourth quarter.\nDidi Global Inc jumped 16.0%, on its second day of trading as a U.S.-listed company.\nMicron Technology Inc slid by 5.7% following a report that Texas Instruments would buy Micron’s Lehi, Utah, factory for $900 million.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.78-to-1 ratio; on Nasdaq, a 1.32-to-1 ratio favored advancers.\nThe S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 78 new highs and 30 new lows.\nVolume on U.S. exchanges was 9.53 billion shares, compared with the 10.9 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2326,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124900198,"gmtCreate":1624714231114,"gmtModify":1631890378928,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Yes to apple too!!","listText":"Yes to apple too!!","text":"Yes to apple too!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/124900198","repostId":"1108941456","repostType":4,"isVote":1,"tweetType":1,"viewCount":1331,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124077528,"gmtCreate":1624714198764,"gmtModify":1631890378933,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Yes!! It will!!!","listText":"Yes!! It will!!!","text":"Yes!! It will!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/124077528","repostId":"1164137597","repostType":4,"isVote":1,"tweetType":1,"viewCount":3293,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126261535,"gmtCreate":1624575918727,"gmtModify":1631890378935,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Huats","listText":"Huats","text":"Huats","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/126261535","repostId":"1159660883","repostType":4,"isVote":1,"tweetType":1,"viewCount":2799,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120129008,"gmtCreate":1624316053404,"gmtModify":1631890378936,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Think the missles already hit the cryto market","listText":"Think the missles already hit the cryto market","text":"Think the missles already hit the cryto market","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/120129008","repostId":"1146982088","repostType":4,"repost":{"id":"1146982088","kind":"news","pubTimestamp":1624259620,"share":"https://www.laohu8.com/m/news/1146982088?lang=zh_CN&edition=full","pubTime":"2021-06-21 15:13","market":"us","language":"en","title":"Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis<blockquote>鲍威尔刚刚发射了2万亿美元的“热寻导弹”：Zoltan解释美联储如何开启下一次回购危机</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146982088","media":"zerohedge","summary":"Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpect","content":"<p>Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key \"administered\" rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.</p><p><blockquote>上周，在市场对美联储意外鹰派转向的震惊反应中，我们注意到有两个切实但不太引人注目的变化：美联储调整了两个关键的“管理”利率，将IOER和RRP利率都提高了5个基点（正如美国银行、摩根大通、莱特森、德意志银行和富国银行正确预测的那样，而花旗、牛津经济研究院、杰富瑞、瑞士信贷、渣打银行、蒙特利尔银行错误地预测利率不会变化），以推动有效联邦基金利率走高，远离即将到来的0%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/31e3c93e7ae558cd9f2fdb7e4a2769f1\" tg-width=\"500\" tg-height=\"377\">What does this mean? As Curvature Securities repo guru,Scott Skyrm wrote last week, \"clearly the Fed intends to move overnight rates above zero and drain the RRP&nbsp; facility of cash.\" Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.</p><p><blockquote>这是什么意思？正如Curvature Securities回购专家Scott Skyrm上周写道，“显然，美联储打算将隔夜利率提高到零以上，并耗尽RRP工具的现金。”不幸的是，最终结果将与美联储想要达到的目标完全相反。</blockquote></p><p> But what does this really mean for overnight rates and RRP volume? As Skyrm further noted, the increase in the IOER should pull the daily fed funds rate 5 basis points higher and, in turn, put upward pressure on Repo GC. Combined with the 5 basis point increase in RRP, GC should move a solid 5 basis points higher, which it has.</p><p><blockquote>但这对于隔夜利率和建议零售价交易量到底意味着什么？正如Skyrm进一步指出的那样，IOER的上升应该会将每日联邦基金利率拉高5个基点，进而给回购GC带来上行压力。结合RRP增加5个基点，GC应该会大幅上涨5个基点，事实也确实如此。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e8b99df7af1731b4bdcbcf072dcf39ce\" tg-width=\"500\" tg-height=\"272\">The problem, as Skyrm warned, is that the Fed's technical adjustment would do nothing to ease the RRP volume:</p><p><blockquote>正如Skyrm警告的那样，问题在于美联储的技术调整无助于缓解建议零售额：</blockquote></p><p>   When market Repo rates were at 0% and the RRP rate was at zero, ~$500 billion went into the RRP. Well, if both market Repo rates and the RRP rate are 5 basis points higher, there's no reason to pull cash out of the RRP. For example, if GC rates moved to .05% and the RRP rate stayed at zero, investor preferences to invest at a higher rate would remove cash from the RRP.  Bottom line: with both market rates and RRP at .05%, there's really no economic incentive for cash investors to move cash to the Repo market. Or, as we summarized, \"<i>the Fed's rate change may have zero impact on the Fed's reverse repo facility, or the record half a trillion in cash parked there.\"</i></p><p><blockquote>当市场回购利率为0%且RRP利率为零时，约5000亿美元进入RRP。好吧，如果市场回购利率和RRP利率都高出5个基点，就没有理由从RRP中提取现金。例如，如果GC利率升至0.05%，而RRP利率保持在零，投资者以更高利率投资的偏好将从RRP中移除现金。底线：由于市场利率和建议零售价均为0.05%，现金投资者确实没有经济动机将现金转移到回购市场。或者，正如我们总结的那样，“<i>美联储的利率变化可能对美联储的逆回购工具或创纪录的5000亿现金产生零影响。”</i></blockquote></p><p> In retrospect, boy was that an understatement, because just one day later the already record usage of the Fed's Reverse Repo facility spiked by a record 50%, exploding to a staggering $756 billion (it closed Friday at $747 billion) as the GSEs.</p><p><blockquote>回想起来，这是一种轻描淡写的说法，因为仅仅一天后，美联储逆回购工具的使用量就飙升了创纪录的50%，随着GSE的出现，飙升至惊人的7560亿美元（周五收盘价为7470亿美元）。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0fba18d7808300abc3bdf4ffaa3d5fb6\" tg-width=\"500\" tg-height=\"273\">Needless to say, flooding the Fed's RRP facility and sterilizing reserves is hardly what the Fed had intended, and as Credit Suisse's own repo guru (and former NY Fed staffer) Zoltan Pozsar wrote in his post-mortem, \"<b>the re-priced RRP facility will become a problem for the banking system fast:</b><b><u>the banking system is going from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market</u></b><b>).\"</b></p><p><blockquote>不用说，淹没美联储的建议零售价工具和冲销准备金几乎不是美联储的本意，正如瑞士信贷自己的回购专家（前纽约联储工作人员）Zoltan Pozsar在他的事后分析中所写的那样，“<b>重新定价的建议零售价融资将很快成为银行系统的一个问题：</b><b><u>银行体系正在从资产约束（存款大量涌入，但除了美联储之外无处可贷）转变为负债约束（存款不断流失，除了货币市场之外无处可替代）</u></b><b>).\"</b></blockquote></p><p> What he means by that is that whereas previously the RRP rate of 0.00% did not<i>reward</i>allocation of inert, excess reserves but merely provided a place to park them, now that the Fed is providing a generous yield pick up compared to rates offered by trillions in Bills, we are about to see a sea-change in the overnight, money-market, as trillions in capital reallocate away from traditional investments and into the the Fed's RRP.</p><p><blockquote>他的意思是，以前0.00%的RRP利率没有<i>奖励</i>分配惰性的超额准备金，但只是提供了一个存放它们的地方，现在美联储提供的收益率与数万亿票据提供的利率相比大幅上升，我们即将看到隔夜货币市场发生翻天覆地的变化，数万亿资本从传统投资重新分配到美联储的建议零售价。</blockquote></p><p> In other words, as Pozsar puts it, \"the RRP facility started to sterilize reserves... with more to come.\" And just as Deutsche Bank explained why the Fed's signaling was an r* policy error, to Pozsar, the Fed<i><b>also</b></i>made a policy error - only this time with its technical rates - by steriling reserves because \"it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it “unduly” high – as one money fund manager put it, “<b>yesterday we could not even get a basis points a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.\"</b></p><p><blockquote>换句话说，正如Pozsar所说，“RRP设施开始对储备进行消毒……还会有更多储备。”而就在德意志银行向Pozsar解释为什么美联储的信号是一个r*政策错误时，美联储<i><b>也</b></i>犯了一个政策错误——只是这次是技术利率——冲销准备金，因为“当严格来说没有必要提高RRP设施的利率时，提高RRP设施的利率是一回事，而将其提高到‘过高’是另一回事——正如一位货币基金经理所说，”<b>昨天，我们一年甚至拿不到一个基点；以五个基点从最值得信赖的交易对手那里获得无尽的票据是梦想成真。”</b></blockquote></p><p> He's right: while 0bps may have been viewed by many as too low, it was hardly catastrophic for now (Credit Suisse was one of those predicting no administered rate hike),<b>5bps is too generous</b>, according to Pozsar who warns that the new reverse repo rate<b>will upset the state of \"singularity\"</b>and \"like heat-seeking missiles, money market investors move hundreds of billions, making sharp, 90º turns hunting for even a basis point of yield at the zero bound –<b>at 5 bps, money funds have an incentive to trade out of all their Treasury bills and park cash at the RRP facility.\"</b></p><p><blockquote>他是对的：虽然许多人可能认为0个基点太低，但目前这很难说是灾难性的（瑞士信贷是预测不会有管理加息的机构之一），<b>5bps太慷慨了</b>Pozsar警告说，新的逆回购利率<b>将颠覆“奇点”状态</b>“就像热寻的导弹一样，货币市场投资者转移了数千亿美元，急转弯90度，在零边界寻找哪怕一个基点的收益率——<b>在5个基点的利率下，货币基金有动力出售所有国库券并将现金存放在RRP设施中。”</b></blockquote></p><p></p><p> Indeed, as shown below, bills yield less than 5 bps out to 6 months,<b>and money funds have over $2 trillion of bills.</b>They got an the incentive to sell, while others have the incentive to buy: institutions whose deposits have been “tolerated” by banks until now earning zero interest have an incentive to harvest the 0-5 bps range the bill curve has to offer. Putting your cash at a basis point in bills is better than deposits at zero.<b>So the sterilization of reserves begins, and so the o/n RRP facility turns from a largely passive tool that provided an interest rate floor to the deposits that large banks have been pushing away, into an active tool that \"sucks\" the deposits away that banks decided to retain.</b></p><p><blockquote>事实上，如下图所示，6个月的票据收益率不到5个基点，<b>货币基金拥有超过2万亿美元的票据。</b>他们有卖出的动机，而其他人有买入的动机：那些存款一直被银行“容忍”到目前为止赚取零利息的机构有动力获得票据曲线提供的0-5个基点的范围。将现金以一个基点存入票据比零存款要好。<b>因此，准备金冲销开始了，因此o/n RRP工具从一个为大型银行一直在推走的存款提供利率下限的基本上被动的工具，变成了一个“吸走”银行决定保留的存款的主动工具。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/bf593f7b1d2d665f39384ed6a998d3bf\" tg-width=\"500\" tg-height=\"403\">To help readers visualize what is going on, the Credit Suisse strategist suggest the following \"extreme\" thought experiment: most of the “Covid-19” deposits currently with banks go into the bill market where rates are better. Money funds sell bills to institutional investors that currently keep their cash at banks, and money funds swap bills for o/n RRPs. Said (somewhat) simply, while previously the Fed provided banks with a convenient place to park reserves, it now will actively drain reserves to the point where we may end up with another 2019-style repo crisis, as most financial institutions suddenly find themsleves with<i><b>too few</b></i>intraday reserves, forcing them to use the Fed's other funding facilities (such as FX swap lines) to remain consistently solvent.</p><p><blockquote>为了帮助读者直观地了解正在发生的事情，瑞士信贷策略师建议进行以下“极端”的思想实验：目前银行的大部分“Covid-19”存款都进入了利率更好的票据市场。货币基金向目前将现金存放在银行的机构投资者出售票据，货币基金将票据交换为o/N RRP。（有点）简单地说，虽然美联储以前为银行提供了一个方便的存放准备金的地方，但现在它将积极耗尽准备金，以至于我们可能最终会陷入另一场2019年式的回购危机，因为大多数金融机构突然发现自己与<i><b>太少</b></i>日内储备，迫使它们使用美联储的其他融资工具（如外汇掉期额度）来保持持续的偿付能力。</blockquote></p><p> This process is not overnight. It will take a few weeks to observe the fallout from the Fed's reserve sterilization.</p><p><blockquote>这个过程不是一蹴而就的。需要几周时间才能观察到美联储准备金冲销的影响。</blockquote></p><p> And here is why the problem is similar to the repo crisis of 2019: soon we will find that while cash-rich banks can handle the outflows,<b>some bond-heavy banks cannot.</b>As a result, Zoltan predicts that next \"we will notice that some banks (those who can<i><b>not</b></i>handle outflows) are borrowing advances from FHLBs, and cash-rich banks stop lending in the FX swap market as the RRP facility pulled reserves away from them and the Fed has to re-start the FX swap lines to offset.\"</p><p><blockquote>这就是为什么这个问题与2019年的回购危机类似：很快我们就会发现，虽然现金充裕的银行可以应对资金外流，<b>一些债券密集型银行则不能。</b>因此，Zoltan预测，接下来“我们将注意到一些银行（那些能够<i><b>不</b></i>处理资金外流）正在从FHLB借入预付款，现金充裕的银行停止在外汇掉期市场放贷，因为RRP工具从它们那里抽走了准备金，美联储不得不重新启动外汇掉期额度来抵消。”</blockquote></p><p> Bottom line:<i><b>whereas previously we saw Libor-OIS collapse, this key funding spread will have to widen from here, unless the Fed lowers the o/n RRP rate again back to where it was before.</b></i></p><p><blockquote>底线：<i><b>尽管之前我们看到Libor-OIS崩溃，但这一关键资金利差将不得不从这里扩大，除非美联储再次将o/n RRP利率降低到以前的水平。</b></i></blockquote></p><p> Or, as Zoltan summarizes, \"It’s either quantities or prices\" - indeed,<b>in 2019 the Fed chose prices over quantities, which backfired, and led to the repo crisis which ended the Fed's hiking cycle and started \"NOT QE.\"</b>While the Fed redeemed itself in February, when it expanded the usage of the RRP without making it liability-constrained as it chose quantities over prices - which worked well - last Wednesday,<b>the Fed turned “unlimited” quantities into “money for free” and started to sterilize reserves.</b></p><p><blockquote>或者，正如Zoltan总结的那样，“要么是数量，要么是价格”——事实上，<b>2019年，美联储选择了价格而不是数量，这适得其反，并导致了回购危机，结束了美联储的加息周期，并开始了“非量化宽松”。</b>虽然美联储在2月份进行了自我救赎，但上周三，它在没有使其负债受到限制的情况下扩大了建议零售价的使用范围，因为它选择了数量而不是价格——这一点效果很好——<b>美联储将“无限”的数量变成了“免费的钱”，并开始冲销储备。</b></blockquote></p><p> Bottom line: \"we are witnessing the dealer of last resort (DoLR) learning the art of dealing, making unforced errors – if the Fed sterilizes with an overpriced o/n RRP facility, it has to be ready to add liquidity via the swap lines…\"</p><p><blockquote>底线：“我们正在目睹最后手段交易商（DoLR）学习交易艺术，犯非受迫性错误——如果美联储通过定价过高的o/n RRP工具进行冲销，它必须准备好通过掉期增加流动性线……”</blockquote></p><p> Translation:&nbsp;<b>by paying trillions in reserves 5bps, the Fed just planted the seeds of the next liquidity crisis.</b></p><p><blockquote>翻译：<b>通过支付数万亿美元的准备金5个基点，美联储刚刚播下了下一场流动性危机的种子。</b></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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}\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\">\nPowell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis<blockquote>鲍威尔刚刚发射了2万亿美元的“热寻导弹”：Zoltan解释美联储如何开启下一次回购危机</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-06-21 15:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key \"administered\" rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.</p><p><blockquote>上周，在市场对美联储意外鹰派转向的震惊反应中，我们注意到有两个切实但不太引人注目的变化：美联储调整了两个关键的“管理”利率，将IOER和RRP利率都提高了5个基点（正如美国银行、摩根大通、莱特森、德意志银行和富国银行正确预测的那样，而花旗、牛津经济研究院、杰富瑞、瑞士信贷、渣打银行、蒙特利尔银行错误地预测利率不会变化），以推动有效联邦基金利率走高，远离即将到来的0%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/31e3c93e7ae558cd9f2fdb7e4a2769f1\" tg-width=\"500\" tg-height=\"377\">What does this mean? As Curvature Securities repo guru,Scott Skyrm wrote last week, \"clearly the Fed intends to move overnight rates above zero and drain the RRP&nbsp; facility of cash.\" Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.</p><p><blockquote>这是什么意思？正如Curvature Securities回购专家Scott Skyrm上周写道，“显然，美联储打算将隔夜利率提高到零以上，并耗尽RRP工具的现金。”不幸的是，最终结果将与美联储想要达到的目标完全相反。</blockquote></p><p> But what does this really mean for overnight rates and RRP volume? As Skyrm further noted, the increase in the IOER should pull the daily fed funds rate 5 basis points higher and, in turn, put upward pressure on Repo GC. Combined with the 5 basis point increase in RRP, GC should move a solid 5 basis points higher, which it has.</p><p><blockquote>但这对于隔夜利率和建议零售价交易量到底意味着什么？正如Skyrm进一步指出的那样，IOER的上升应该会将每日联邦基金利率拉高5个基点，进而给回购GC带来上行压力。结合RRP增加5个基点，GC应该会大幅上涨5个基点，事实也确实如此。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e8b99df7af1731b4bdcbcf072dcf39ce\" tg-width=\"500\" tg-height=\"272\">The problem, as Skyrm warned, is that the Fed's technical adjustment would do nothing to ease the RRP volume:</p><p><blockquote>正如Skyrm警告的那样，问题在于美联储的技术调整无助于缓解建议零售额：</blockquote></p><p>   When market Repo rates were at 0% and the RRP rate was at zero, ~$500 billion went into the RRP. Well, if both market Repo rates and the RRP rate are 5 basis points higher, there's no reason to pull cash out of the RRP. For example, if GC rates moved to .05% and the RRP rate stayed at zero, investor preferences to invest at a higher rate would remove cash from the RRP.  Bottom line: with both market rates and RRP at .05%, there's really no economic incentive for cash investors to move cash to the Repo market. Or, as we summarized, \"<i>the Fed's rate change may have zero impact on the Fed's reverse repo facility, or the record half a trillion in cash parked there.\"</i></p><p><blockquote>当市场回购利率为0%且RRP利率为零时，约5000亿美元进入RRP。好吧，如果市场回购利率和RRP利率都高出5个基点，就没有理由从RRP中提取现金。例如，如果GC利率升至0.05%，而RRP利率保持在零，投资者以更高利率投资的偏好将从RRP中移除现金。底线：由于市场利率和建议零售价均为0.05%，现金投资者确实没有经济动机将现金转移到回购市场。或者，正如我们总结的那样，“<i>美联储的利率变化可能对美联储的逆回购工具或创纪录的5000亿现金产生零影响。”</i></blockquote></p><p> In retrospect, boy was that an understatement, because just one day later the already record usage of the Fed's Reverse Repo facility spiked by a record 50%, exploding to a staggering $756 billion (it closed Friday at $747 billion) as the GSEs.</p><p><blockquote>回想起来，这是一种轻描淡写的说法，因为仅仅一天后，美联储逆回购工具的使用量就飙升了创纪录的50%，随着GSE的出现，飙升至惊人的7560亿美元（周五收盘价为7470亿美元）。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0fba18d7808300abc3bdf4ffaa3d5fb6\" tg-width=\"500\" tg-height=\"273\">Needless to say, flooding the Fed's RRP facility and sterilizing reserves is hardly what the Fed had intended, and as Credit Suisse's own repo guru (and former NY Fed staffer) Zoltan Pozsar wrote in his post-mortem, \"<b>the re-priced RRP facility will become a problem for the banking system fast:</b><b><u>the banking system is going from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market</u></b><b>).\"</b></p><p><blockquote>不用说，淹没美联储的建议零售价工具和冲销准备金几乎不是美联储的本意，正如瑞士信贷自己的回购专家（前纽约联储工作人员）Zoltan Pozsar在他的事后分析中所写的那样，“<b>重新定价的建议零售价融资将很快成为银行系统的一个问题：</b><b><u>银行体系正在从资产约束（存款大量涌入，但除了美联储之外无处可贷）转变为负债约束（存款不断流失，除了货币市场之外无处可替代）</u></b><b>).\"</b></blockquote></p><p> What he means by that is that whereas previously the RRP rate of 0.00% did not<i>reward</i>allocation of inert, excess reserves but merely provided a place to park them, now that the Fed is providing a generous yield pick up compared to rates offered by trillions in Bills, we are about to see a sea-change in the overnight, money-market, as trillions in capital reallocate away from traditional investments and into the the Fed's RRP.</p><p><blockquote>他的意思是，以前0.00%的RRP利率没有<i>奖励</i>分配惰性的超额准备金，但只是提供了一个存放它们的地方，现在美联储提供的收益率与数万亿票据提供的利率相比大幅上升，我们即将看到隔夜货币市场发生翻天覆地的变化，数万亿资本从传统投资重新分配到美联储的建议零售价。</blockquote></p><p> In other words, as Pozsar puts it, \"the RRP facility started to sterilize reserves... with more to come.\" And just as Deutsche Bank explained why the Fed's signaling was an r* policy error, to Pozsar, the Fed<i><b>also</b></i>made a policy error - only this time with its technical rates - by steriling reserves because \"it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it “unduly” high – as one money fund manager put it, “<b>yesterday we could not even get a basis points a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.\"</b></p><p><blockquote>换句话说，正如Pozsar所说，“RRP设施开始对储备进行消毒……还会有更多储备。”而就在德意志银行向Pozsar解释为什么美联储的信号是一个r*政策错误时，美联储<i><b>也</b></i>犯了一个政策错误——只是这次是技术利率——冲销准备金，因为“当严格来说没有必要提高RRP设施的利率时，提高RRP设施的利率是一回事，而将其提高到‘过高’是另一回事——正如一位货币基金经理所说，”<b>昨天，我们一年甚至拿不到一个基点；以五个基点从最值得信赖的交易对手那里获得无尽的票据是梦想成真。”</b></blockquote></p><p> He's right: while 0bps may have been viewed by many as too low, it was hardly catastrophic for now (Credit Suisse was one of those predicting no administered rate hike),<b>5bps is too generous</b>, according to Pozsar who warns that the new reverse repo rate<b>will upset the state of \"singularity\"</b>and \"like heat-seeking missiles, money market investors move hundreds of billions, making sharp, 90º turns hunting for even a basis point of yield at the zero bound –<b>at 5 bps, money funds have an incentive to trade out of all their Treasury bills and park cash at the RRP facility.\"</b></p><p><blockquote>他是对的：虽然许多人可能认为0个基点太低，但目前这很难说是灾难性的（瑞士信贷是预测不会有管理加息的机构之一），<b>5bps太慷慨了</b>Pozsar警告说，新的逆回购利率<b>将颠覆“奇点”状态</b>“就像热寻的导弹一样，货币市场投资者转移了数千亿美元，急转弯90度，在零边界寻找哪怕一个基点的收益率——<b>在5个基点的利率下，货币基金有动力出售所有国库券并将现金存放在RRP设施中。”</b></blockquote></p><p></p><p> Indeed, as shown below, bills yield less than 5 bps out to 6 months,<b>and money funds have over $2 trillion of bills.</b>They got an the incentive to sell, while others have the incentive to buy: institutions whose deposits have been “tolerated” by banks until now earning zero interest have an incentive to harvest the 0-5 bps range the bill curve has to offer. Putting your cash at a basis point in bills is better than deposits at zero.<b>So the sterilization of reserves begins, and so the o/n RRP facility turns from a largely passive tool that provided an interest rate floor to the deposits that large banks have been pushing away, into an active tool that \"sucks\" the deposits away that banks decided to retain.</b></p><p><blockquote>事实上，如下图所示，6个月的票据收益率不到5个基点，<b>货币基金拥有超过2万亿美元的票据。</b>他们有卖出的动机，而其他人有买入的动机：那些存款一直被银行“容忍”到目前为止赚取零利息的机构有动力获得票据曲线提供的0-5个基点的范围。将现金以一个基点存入票据比零存款要好。<b>因此，准备金冲销开始了，因此o/n RRP工具从一个为大型银行一直在推走的存款提供利率下限的基本上被动的工具，变成了一个“吸走”银行决定保留的存款的主动工具。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/bf593f7b1d2d665f39384ed6a998d3bf\" tg-width=\"500\" tg-height=\"403\">To help readers visualize what is going on, the Credit Suisse strategist suggest the following \"extreme\" thought experiment: most of the “Covid-19” deposits currently with banks go into the bill market where rates are better. Money funds sell bills to institutional investors that currently keep their cash at banks, and money funds swap bills for o/n RRPs. Said (somewhat) simply, while previously the Fed provided banks with a convenient place to park reserves, it now will actively drain reserves to the point where we may end up with another 2019-style repo crisis, as most financial institutions suddenly find themsleves with<i><b>too few</b></i>intraday reserves, forcing them to use the Fed's other funding facilities (such as FX swap lines) to remain consistently solvent.</p><p><blockquote>为了帮助读者直观地了解正在发生的事情，瑞士信贷策略师建议进行以下“极端”的思想实验：目前银行的大部分“Covid-19”存款都进入了利率更好的票据市场。货币基金向目前将现金存放在银行的机构投资者出售票据，货币基金将票据交换为o/N RRP。（有点）简单地说，虽然美联储以前为银行提供了一个方便的存放准备金的地方，但现在它将积极耗尽准备金，以至于我们可能最终会陷入另一场2019年式的回购危机，因为大多数金融机构突然发现自己与<i><b>太少</b></i>日内储备，迫使它们使用美联储的其他融资工具（如外汇掉期额度）来保持持续的偿付能力。</blockquote></p><p> This process is not overnight. It will take a few weeks to observe the fallout from the Fed's reserve sterilization.</p><p><blockquote>这个过程不是一蹴而就的。需要几周时间才能观察到美联储准备金冲销的影响。</blockquote></p><p> And here is why the problem is similar to the repo crisis of 2019: soon we will find that while cash-rich banks can handle the outflows,<b>some bond-heavy banks cannot.</b>As a result, Zoltan predicts that next \"we will notice that some banks (those who can<i><b>not</b></i>handle outflows) are borrowing advances from FHLBs, and cash-rich banks stop lending in the FX swap market as the RRP facility pulled reserves away from them and the Fed has to re-start the FX swap lines to offset.\"</p><p><blockquote>这就是为什么这个问题与2019年的回购危机类似：很快我们就会发现，虽然现金充裕的银行可以应对资金外流，<b>一些债券密集型银行则不能。</b>因此，Zoltan预测，接下来“我们将注意到一些银行（那些能够<i><b>不</b></i>处理资金外流）正在从FHLB借入预付款，现金充裕的银行停止在外汇掉期市场放贷，因为RRP工具从它们那里抽走了准备金，美联储不得不重新启动外汇掉期额度来抵消。”</blockquote></p><p> Bottom line:<i><b>whereas previously we saw Libor-OIS collapse, this key funding spread will have to widen from here, unless the Fed lowers the o/n RRP rate again back to where it was before.</b></i></p><p><blockquote>底线：<i><b>尽管之前我们看到Libor-OIS崩溃，但这一关键资金利差将不得不从这里扩大，除非美联储再次将o/n RRP利率降低到以前的水平。</b></i></blockquote></p><p> Or, as Zoltan summarizes, \"It’s either quantities or prices\" - indeed,<b>in 2019 the Fed chose prices over quantities, which backfired, and led to the repo crisis which ended the Fed's hiking cycle and started \"NOT QE.\"</b>While the Fed redeemed itself in February, when it expanded the usage of the RRP without making it liability-constrained as it chose quantities over prices - which worked well - last Wednesday,<b>the Fed turned “unlimited” quantities into “money for free” and started to sterilize reserves.</b></p><p><blockquote>或者，正如Zoltan总结的那样，“要么是数量，要么是价格”——事实上，<b>2019年，美联储选择了价格而不是数量，这适得其反，并导致了回购危机，结束了美联储的加息周期，并开始了“非量化宽松”。</b>虽然美联储在2月份进行了自我救赎，但上周三，它在没有使其负债受到限制的情况下扩大了建议零售价的使用范围，因为它选择了数量而不是价格——这一点效果很好——<b>美联储将“无限”的数量变成了“免费的钱”，并开始冲销储备。</b></blockquote></p><p> Bottom line: \"we are witnessing the dealer of last resort (DoLR) learning the art of dealing, making unforced errors – if the Fed sterilizes with an overpriced o/n RRP facility, it has to be ready to add liquidity via the swap lines…\"</p><p><blockquote>底线：“我们正在目睹最后手段交易商（DoLR）学习交易艺术，犯非受迫性错误——如果美联储通过定价过高的o/n RRP工具进行冲销，它必须准备好通过掉期增加流动性线……”</blockquote></p><p> Translation:&nbsp;<b>by paying trillions in reserves 5bps, the Fed just planted the seeds of the next liquidity crisis.</b></p><p><blockquote>翻译：<b>通过支付数万亿美元的准备金5个基点，美联储刚刚播下了下一场流动性危机的种子。</b></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next\">zerohedge</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":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146982088","content_text":"Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key \"administered\" rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.\nWhat does this mean? As Curvature Securities repo guru,Scott Skyrm wrote last week, \"clearly the Fed intends to move overnight rates above zero and drain the RRP  facility of cash.\" Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.\nBut what does this really mean for overnight rates and RRP volume? As Skyrm further noted, the increase in the IOER should pull the daily fed funds rate 5 basis points higher and, in turn, put upward pressure on Repo GC. Combined with the 5 basis point increase in RRP, GC should move a solid 5 basis points higher, which it has.\nThe problem, as Skyrm warned, is that the Fed's technical adjustment would do nothing to ease the RRP volume:\n\n When market Repo rates were at 0% and the RRP rate was at zero, ~$500 billion went into the RRP. Well, if both market Repo rates and the RRP rate are 5 basis points higher, there's no reason to pull cash out of the RRP. For example, if GC rates moved to .05% and the RRP rate stayed at zero, investor preferences to invest at a higher rate would remove cash from the RRP.\n\nBottom line: with both market rates and RRP at .05%, there's really no economic incentive for cash investors to move cash to the Repo market. Or, as we summarized, \"the Fed's rate change may have zero impact on the Fed's reverse repo facility, or the record half a trillion in cash parked there.\"\nIn retrospect, boy was that an understatement, because just one day later the already record usage of the Fed's Reverse Repo facility spiked by a record 50%, exploding to a staggering $756 billion (it closed Friday at $747 billion) as the GSEs.\nNeedless to say, flooding the Fed's RRP facility and sterilizing reserves is hardly what the Fed had intended, and as Credit Suisse's own repo guru (and former NY Fed staffer) Zoltan Pozsar wrote in his post-mortem, \"the re-priced RRP facility will become a problem for the banking system fast:the banking system is going from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market).\"\nWhat he means by that is that whereas previously the RRP rate of 0.00% did notrewardallocation of inert, excess reserves but merely provided a place to park them, now that the Fed is providing a generous yield pick up compared to rates offered by trillions in Bills, we are about to see a sea-change in the overnight, money-market, as trillions in capital reallocate away from traditional investments and into the the Fed's RRP.\nIn other words, as Pozsar puts it, \"the RRP facility started to sterilize reserves... with more to come.\" And just as Deutsche Bank explained why the Fed's signaling was an r* policy error, to Pozsar, the Fedalsomade a policy error - only this time with its technical rates - by steriling reserves because \"it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it “unduly” high – as one money fund manager put it, “yesterday we could not even get a basis points a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.\"\nHe's right: while 0bps may have been viewed by many as too low, it was hardly catastrophic for now (Credit Suisse was one of those predicting no administered rate hike),5bps is too generous, according to Pozsar who warns that the new reverse repo ratewill upset the state of \"singularity\"and \"like heat-seeking missiles, money market investors move hundreds of billions, making sharp, 90º turns hunting for even a basis point of yield at the zero bound –at 5 bps, money funds have an incentive to trade out of all their Treasury bills and park cash at the RRP facility.\"\nIndeed, as shown below, bills yield less than 5 bps out to 6 months,and money funds have over $2 trillion of bills.They got an the incentive to sell, while others have the incentive to buy: institutions whose deposits have been “tolerated” by banks until now earning zero interest have an incentive to harvest the 0-5 bps range the bill curve has to offer. Putting your cash at a basis point in bills is better than deposits at zero.So the sterilization of reserves begins, and so the o/n RRP facility turns from a largely passive tool that provided an interest rate floor to the deposits that large banks have been pushing away, into an active tool that \"sucks\" the deposits away that banks decided to retain.\nTo help readers visualize what is going on, the Credit Suisse strategist suggest the following \"extreme\" thought experiment: most of the “Covid-19” deposits currently with banks go into the bill market where rates are better. Money funds sell bills to institutional investors that currently keep their cash at banks, and money funds swap bills for o/n RRPs. Said (somewhat) simply, while previously the Fed provided banks with a convenient place to park reserves, it now will actively drain reserves to the point where we may end up with another 2019-style repo crisis, as most financial institutions suddenly find themsleves withtoo fewintraday reserves, forcing them to use the Fed's other funding facilities (such as FX swap lines) to remain consistently solvent.\nThis process is not overnight. It will take a few weeks to observe the fallout from the Fed's reserve sterilization.\nAnd here is why the problem is similar to the repo crisis of 2019: soon we will find that while cash-rich banks can handle the outflows,some bond-heavy banks cannot.As a result, Zoltan predicts that next \"we will notice that some banks (those who cannothandle outflows) are borrowing advances from FHLBs, and cash-rich banks stop lending in the FX swap market as the RRP facility pulled reserves away from them and the Fed has to re-start the FX swap lines to offset.\"\nBottom line:whereas previously we saw Libor-OIS collapse, this key funding spread will have to widen from here, unless the Fed lowers the o/n RRP rate again back to where it was before.\nOr, as Zoltan summarizes, \"It’s either quantities or prices\" - indeed,in 2019 the Fed chose prices over quantities, which backfired, and led to the repo crisis which ended the Fed's hiking cycle and started \"NOT QE.\"While the Fed redeemed itself in February, when it expanded the usage of the RRP without making it liability-constrained as it chose quantities over prices - which worked well - last Wednesday,the Fed turned “unlimited” quantities into “money for free” and started to sterilize reserves.\nBottom line: \"we are witnessing the dealer of last resort (DoLR) learning the art of dealing, making unforced errors – if the Fed sterilizes with an overpriced o/n RRP facility, it has to be ready to add liquidity via the swap lines…\"\nTranslation: by paying trillions in reserves 5bps, the Fed just planted the seeds of the next liquidity crisis.","news_type":1,"symbols_score_info":{"SPY":0.9,".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":3106,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120120002,"gmtCreate":1624316015306,"gmtModify":1631890378941,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Gg","listText":"Gg","text":"Gg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/120120002","repostId":"2145084835","repostType":4,"isVote":1,"tweetType":1,"viewCount":2700,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164553707,"gmtCreate":1624231147109,"gmtModify":1631890378947,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/164553707","repostId":"1126454279","repostType":4,"isVote":1,"tweetType":1,"viewCount":2781,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":162795423,"gmtCreate":1624074923162,"gmtModify":1631890378947,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Let it crash-&nbsp;","listText":"Let it crash-&nbsp;","text":"Let it crash-","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/162795423","repostId":"1166679093","repostType":4,"repost":{"id":"1166679093","kind":"news","pubTimestamp":1624065234,"share":"https://www.laohu8.com/m/news/1166679093?lang=zh_CN&edition=full","pubTime":"2021-06-19 09:13","market":"us","language":"en","title":"3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%<blockquote>华尔街预测3只模因股将暴跌20%以上</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166679093","media":"fool","summary":"Meme stocks have been all the rage so far this year. That's understandable, with several of them del","content":"<p>Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.</p><p><blockquote>今年到目前为止，模因股票风靡一时。这是可以理解的，其中一些公司实现了三位数甚至四位数的百分比增长。</blockquote></p><p> However, what goes up can come down. Analysts don't expect the online frenzy fueling the ginormous jumps for some of the most popular stocks will be sustainable. Here are three meme stocks that Wall Street thinks will plunge by more than 20% within the next 12 months.</p><p><blockquote>然而，上升的可以下降。分析师预计，推动一些最受欢迎股票大幅上涨的网络狂热不会持续下去。以下是华尔街认为未来12个月内将暴跌20%以上的三只模因股票。</blockquote></p><p> AMC Entertainment</p><p><blockquote>AMC院线</blockquote></p><p> <b>AMC Entertainment</b>(NYSE:AMC)ranks as the best-performing meme stock of all. Shares of the movie theater operator have skyrocketed close to 2,500% year to date.</p><p><blockquote><b>AMC院线</b>（纽约证券交易所股票代码：AMC）被评为所有模因股票中表现最好的。今年迄今为止，这家电影院运营商的股价已飙升近2,500%。</blockquote></p><p> The consensus among analysts, though, is that the stock could lose 90% of its current value. Even the most optimistic analyst surveyed by Refinitiv has a price target for AMC that's more than 70% below the current share price.</p><p><blockquote>不过，分析师的共识是，该股可能会损失当前价值的90%。即使是Refinitiv调查的最乐观的分析师对AMC的目标价也比当前股价低70%以上。</blockquote></p><p> But isn't AMC's business picking up? Yep. The easing of restrictions has enabled the company to reopen 99% of its U.S. theaters. AMC could benefit as seating capacity limitations imposed by state and local governments are raised. Thereleases of multiple movies this summerand later this year that are likely to be hits should also help.</p><p><blockquote>但AMC的业务不是在回暖吗？是的。限制的放松使该公司能够重新开放99%的美国影院。随着州和地方政府施加的座位容量限制的提高，AMC可能会受益。今年夏天和今年晚些时候上映的多部可能会大受欢迎的电影也应该会有所帮助。</blockquote></p><p> However, Wall Street clearly believes that AMC's share price has gotten way ahead of its business prospects. The stock is trading at nearly eight times higher than it was before the COVID-19 pandemic.</p><p><blockquote>然而，华尔街显然认为AMC的股价已经远远超出了其业务前景。该股目前的交易价格比COVID-19大流行之前高出近八倍。</blockquote></p><p> Clover Health Investments</p><p><blockquote>三叶草健康投资</blockquote></p><p> Only a few days ago, it looked like&nbsp;<b>Clover Health Investments</b>(NASDAQ:CLOV)might push AMC to the side as the hottest meme stock. Retail investors viewed Clover as a primeshort squeezecandidate.</p><p><blockquote>就在几天前，看起来<b>三叶草健康投资</b>（纳斯达克股票代码：CLOV）可能会将AMC推到最热门的模因股票旁边。散户投资者将Clover视为主要的空头挤压候选者。</blockquote></p><p> Since the beginning of June, shares of Clover Health have jumped more than 65%. Analysts, however, don't expect those gains to last. The average price target for the stock is 25% below the current share price.</p><p><blockquote>自6月初以来，Clover Health的股价已上涨超过65%。然而，分析师预计这些涨幅不会持续下去。该股的平均目标价比当前股价低25%。</blockquote></p><p> Clover Health's valuation does seem to have gotten out of hand. The healthcare stock currently trades at more than 170 times trailing-12-month sales. That's a nosebleed level, especially considering that the company is the subject of investigations by the U.S. Department of Justice and the Securities and Exchange Commission.</p><p><blockquote>Clover Health的估值似乎确实已经失控。该医疗保健股目前的交易价格是过去12个月销售额的170多倍。这是一个令人流鼻血的水平，特别是考虑到该公司是美国调查的对象。司法部和证券交易委员会。</blockquote></p><p> Still, Clover Health could deliver improving financial results this year. The company hopes to significantly increase its membership by targeting the original Medicare program. This represents a major new market opportunity in addition to its current Medicare Advantage business.</p><p><blockquote>尽管如此，Clover Health今年的财务业绩可能会有所改善。该公司希望通过瞄准原来的医疗保险计划来大幅增加其会员。除了当前的Medicare Advantage业务之外，这也是一个重大的新市场机会。</blockquote></p><p> Sundial Growers</p><p><blockquote>日晷种植者</blockquote></p><p> At one point earlier this year,&nbsp;<b>Sundial Growers</b>(NASDAQ:SNDL)appeared to be a legitimate contender to become the biggest winner among meme stocks. The Canadian marijuana stock vaulted more than 520% higher year to date before giving up much of its gains. However, Sundial's share price has still more than doubled in 2021.</p><p><blockquote>今年早些时候，<b>日晷种植者</b>（纳斯达克股票代码：SNDL）似乎是成为模因股票最大赢家的合法竞争者。加拿大大麻股票今年迄今已上涨超过520%，随后回吐了大部分涨幅。不过，Sundial的股价在2021年仍上涨了一倍多。</blockquote></p><p> Analysts anticipate that the pot stock could fall even further. The consensus price target for Sundial reflects a 23% discount to its current share price. One analyst even thinks the stock could sink 55%.</p><p><blockquote>分析师预计大麻库存可能会进一步下跌。Sundial的共识目标价较其当前股价有23%的折扣。一位分析师甚至认为该股可能下跌55%。</blockquote></p><p> There certainly are reasons to be pessimistic about Sundial's core cannabis business. The company's net cannabis revenue fell year over year in the first quarter of 2021. Although Sundial is taking steps that it hopes will turn things around, it remains to be seen if those efforts will succeed.</p><p><blockquote>当然有理由对Sundial的核心大麻业务持悲观态度。该公司2021年第一季度的大麻净收入同比下降。尽管日晷正在采取措施，希望能够扭转局面，但这些努力是否会成功还有待观察。</blockquote></p><p> Sundial's business deals could give investors reasons for optimism. After all, the company posted positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q1 due to its investments.</p><p><blockquote>Sundial的商业交易可能会给投资者带来乐观的理由。毕竟，由于其投资，该公司第一季度调整后息税折旧摊销前利润(EBITDA)为正。</blockquote></p><p> However, the cash that Sundial is using to make these investments has come at the cost of increased dilution of its stock. The company can't afford any additional dilution without having to resort to desperate measures to keep its listing on the&nbsp;<b>Nasdaq</b>&nbsp;stock exchange.</p><p><blockquote>然而，Sundial用于进行这些投资的现金是以其股票进一步稀释为代价的。该公司无法承受任何额外的稀释，除非采取绝望的措施来维持其在<b>纳斯达克</b>证券交易所。</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>3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%<blockquote>华尔街预测3只模因股将暴跌20%以上</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\">\n3 Meme Stocks Wall Street Predicts Will Plunge More Than 20%<blockquote>华尔街预测3只模因股将暴跌20%以上</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">fool</strong><span class=\"h-time small\">2021-06-19 09:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.</p><p><blockquote>今年到目前为止，模因股票风靡一时。这是可以理解的，其中一些公司实现了三位数甚至四位数的百分比增长。</blockquote></p><p> However, what goes up can come down. Analysts don't expect the online frenzy fueling the ginormous jumps for some of the most popular stocks will be sustainable. Here are three meme stocks that Wall Street thinks will plunge by more than 20% within the next 12 months.</p><p><blockquote>然而，上升的可以下降。分析师预计，推动一些最受欢迎股票大幅上涨的网络狂热不会持续下去。以下是华尔街认为未来12个月内将暴跌20%以上的三只模因股票。</blockquote></p><p> AMC Entertainment</p><p><blockquote>AMC院线</blockquote></p><p> <b>AMC Entertainment</b>(NYSE:AMC)ranks as the best-performing meme stock of all. Shares of the movie theater operator have skyrocketed close to 2,500% year to date.</p><p><blockquote><b>AMC院线</b>（纽约证券交易所股票代码：AMC）被评为所有模因股票中表现最好的。今年迄今为止，这家电影院运营商的股价已飙升近2,500%。</blockquote></p><p> The consensus among analysts, though, is that the stock could lose 90% of its current value. Even the most optimistic analyst surveyed by Refinitiv has a price target for AMC that's more than 70% below the current share price.</p><p><blockquote>不过，分析师的共识是，该股可能会损失当前价值的90%。即使是Refinitiv调查的最乐观的分析师对AMC的目标价也比当前股价低70%以上。</blockquote></p><p> But isn't AMC's business picking up? Yep. The easing of restrictions has enabled the company to reopen 99% of its U.S. theaters. AMC could benefit as seating capacity limitations imposed by state and local governments are raised. Thereleases of multiple movies this summerand later this year that are likely to be hits should also help.</p><p><blockquote>但AMC的业务不是在回暖吗？是的。限制的放松使该公司能够重新开放99%的美国影院。随着州和地方政府施加的座位容量限制的提高，AMC可能会受益。今年夏天和今年晚些时候上映的多部可能会大受欢迎的电影也应该会有所帮助。</blockquote></p><p> However, Wall Street clearly believes that AMC's share price has gotten way ahead of its business prospects. The stock is trading at nearly eight times higher than it was before the COVID-19 pandemic.</p><p><blockquote>然而，华尔街显然认为AMC的股价已经远远超出了其业务前景。该股目前的交易价格比COVID-19大流行之前高出近八倍。</blockquote></p><p> Clover Health Investments</p><p><blockquote>三叶草健康投资</blockquote></p><p> Only a few days ago, it looked like&nbsp;<b>Clover Health Investments</b>(NASDAQ:CLOV)might push AMC to the side as the hottest meme stock. Retail investors viewed Clover as a primeshort squeezecandidate.</p><p><blockquote>就在几天前，看起来<b>三叶草健康投资</b>（纳斯达克股票代码：CLOV）可能会将AMC推到最热门的模因股票旁边。散户投资者将Clover视为主要的空头挤压候选者。</blockquote></p><p> Since the beginning of June, shares of Clover Health have jumped more than 65%. Analysts, however, don't expect those gains to last. The average price target for the stock is 25% below the current share price.</p><p><blockquote>自6月初以来，Clover Health的股价已上涨超过65%。然而，分析师预计这些涨幅不会持续下去。该股的平均目标价比当前股价低25%。</blockquote></p><p> Clover Health's valuation does seem to have gotten out of hand. The healthcare stock currently trades at more than 170 times trailing-12-month sales. That's a nosebleed level, especially considering that the company is the subject of investigations by the U.S. Department of Justice and the Securities and Exchange Commission.</p><p><blockquote>Clover Health的估值似乎确实已经失控。该医疗保健股目前的交易价格是过去12个月销售额的170多倍。这是一个令人流鼻血的水平，特别是考虑到该公司是美国调查的对象。司法部和证券交易委员会。</blockquote></p><p> Still, Clover Health could deliver improving financial results this year. The company hopes to significantly increase its membership by targeting the original Medicare program. This represents a major new market opportunity in addition to its current Medicare Advantage business.</p><p><blockquote>尽管如此，Clover Health今年的财务业绩可能会有所改善。该公司希望通过瞄准原来的医疗保险计划来大幅增加其会员。除了当前的Medicare Advantage业务之外，这也是一个重大的新市场机会。</blockquote></p><p> Sundial Growers</p><p><blockquote>日晷种植者</blockquote></p><p> At one point earlier this year,&nbsp;<b>Sundial Growers</b>(NASDAQ:SNDL)appeared to be a legitimate contender to become the biggest winner among meme stocks. The Canadian marijuana stock vaulted more than 520% higher year to date before giving up much of its gains. However, Sundial's share price has still more than doubled in 2021.</p><p><blockquote>今年早些时候，<b>日晷种植者</b>（纳斯达克股票代码：SNDL）似乎是成为模因股票最大赢家的合法竞争者。加拿大大麻股票今年迄今已上涨超过520%，随后回吐了大部分涨幅。不过，Sundial的股价在2021年仍上涨了一倍多。</blockquote></p><p> Analysts anticipate that the pot stock could fall even further. The consensus price target for Sundial reflects a 23% discount to its current share price. One analyst even thinks the stock could sink 55%.</p><p><blockquote>分析师预计大麻库存可能会进一步下跌。Sundial的共识目标价较其当前股价有23%的折扣。一位分析师甚至认为该股可能下跌55%。</blockquote></p><p> There certainly are reasons to be pessimistic about Sundial's core cannabis business. The company's net cannabis revenue fell year over year in the first quarter of 2021. Although Sundial is taking steps that it hopes will turn things around, it remains to be seen if those efforts will succeed.</p><p><blockquote>当然有理由对Sundial的核心大麻业务持悲观态度。该公司2021年第一季度的大麻净收入同比下降。尽管日晷正在采取措施，希望能够扭转局面，但这些努力是否会成功还有待观察。</blockquote></p><p> Sundial's business deals could give investors reasons for optimism. After all, the company posted positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q1 due to its investments.</p><p><blockquote>Sundial的商业交易可能会给投资者带来乐观的理由。毕竟，由于其投资，该公司第一季度调整后息税折旧摊销前利润(EBITDA)为正。</blockquote></p><p> However, the cash that Sundial is using to make these investments has come at the cost of increased dilution of its stock. The company can't afford any additional dilution without having to resort to desperate measures to keep its listing on the&nbsp;<b>Nasdaq</b>&nbsp;stock exchange.</p><p><blockquote>然而，Sundial用于进行这些投资的现金是以其股票进一步稀释为代价的。该公司无法承受任何额外的稀释，除非采取绝望的措施来维持其在<b>纳斯达克</b>证券交易所。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/06/18/3-meme-stocks-wall-street-predicts-will-plunge-mor/\">fool</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":{"AMC":"AMC院线","SNDL":"SNDL Inc.","CLOV":"Clover Health Corp"},"source_url":"https://www.fool.com/investing/2021/06/18/3-meme-stocks-wall-street-predicts-will-plunge-mor/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166679093","content_text":"Meme stocks have been all the rage so far this year. That's understandable, with several of them delivering triple-digit and even four-digit percentage gains.\nHowever, what goes up can come down. Analysts don't expect the online frenzy fueling the ginormous jumps for some of the most popular stocks will be sustainable. Here are three meme stocks that Wall Street thinks will plunge by more than 20% within the next 12 months.\nAMC Entertainment\nAMC Entertainment(NYSE:AMC)ranks as the best-performing meme stock of all. Shares of the movie theater operator have skyrocketed close to 2,500% year to date.\nThe consensus among analysts, though, is that the stock could lose 90% of its current value. Even the most optimistic analyst surveyed by Refinitiv has a price target for AMC that's more than 70% below the current share price.\nBut isn't AMC's business picking up? Yep. The easing of restrictions has enabled the company to reopen 99% of its U.S. theaters. AMC could benefit as seating capacity limitations imposed by state and local governments are raised. Thereleases of multiple movies this summerand later this year that are likely to be hits should also help.\nHowever, Wall Street clearly believes that AMC's share price has gotten way ahead of its business prospects. The stock is trading at nearly eight times higher than it was before the COVID-19 pandemic.\nClover Health Investments\nOnly a few days ago, it looked like Clover Health Investments(NASDAQ:CLOV)might push AMC to the side as the hottest meme stock. Retail investors viewed Clover as a primeshort squeezecandidate.\nSince the beginning of June, shares of Clover Health have jumped more than 65%. Analysts, however, don't expect those gains to last. The average price target for the stock is 25% below the current share price.\nClover Health's valuation does seem to have gotten out of hand. The healthcare stock currently trades at more than 170 times trailing-12-month sales. That's a nosebleed level, especially considering that the company is the subject of investigations by the U.S. Department of Justice and the Securities and Exchange Commission.\nStill, Clover Health could deliver improving financial results this year. The company hopes to significantly increase its membership by targeting the original Medicare program. This represents a major new market opportunity in addition to its current Medicare Advantage business.\nSundial Growers\nAt one point earlier this year, Sundial Growers(NASDAQ:SNDL)appeared to be a legitimate contender to become the biggest winner among meme stocks. The Canadian marijuana stock vaulted more than 520% higher year to date before giving up much of its gains. However, Sundial's share price has still more than doubled in 2021.\nAnalysts anticipate that the pot stock could fall even further. The consensus price target for Sundial reflects a 23% discount to its current share price. One analyst even thinks the stock could sink 55%.\nThere certainly are reasons to be pessimistic about Sundial's core cannabis business. The company's net cannabis revenue fell year over year in the first quarter of 2021. Although Sundial is taking steps that it hopes will turn things around, it remains to be seen if those efforts will succeed.\nSundial's business deals could give investors reasons for optimism. After all, the company posted positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in Q1 due to its investments.\nHowever, the cash that Sundial is using to make these investments has come at the cost of increased dilution of its stock. The company can't afford any additional dilution without having to resort to desperate measures to keep its listing on the Nasdaq stock exchange.","news_type":1,"symbols_score_info":{"SNDL":0.9,"AMC":0.9,"CLOV":0.9}},"isVote":1,"tweetType":1,"viewCount":691,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163577711,"gmtCreate":1623890365733,"gmtModify":1634026413382,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/163577711","repostId":"1124213234","repostType":4,"repost":{"id":"1124213234","kind":"news","pubTimestamp":1623888164,"share":"https://www.laohu8.com/m/news/1124213234?lang=zh_CN&edition=full","pubTime":"2021-06-17 08:02","market":"us","language":"en","title":"Amazon Stock Has Underperformed. Two Analysts Advise Buying Now.<blockquote>亚马逊股票表现不佳。两位分析师建议立即买入。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1124213234","media":"Barrons","summary":"While Amazon.com has produced astonishing growth in recent quarters, the stock has been stuck in neu","content":"<p>While Amazon.com has produced astonishing growth in recent quarters, the stock has been stuck in neutral, up just 4% for the year to date, trailing the broad market by almost 10 percentage points. Some analysts believe the underperformance provides an opportunity for investors.</p><p><blockquote>尽管亚马逊最近几个季度取得了惊人的增长，但该股一直陷入中性，今年迄今仅上涨4%，落后大盘近10个百分点。一些分析师认为，表现不佳为投资者提供了机会。</blockquote></p><p> Jefferies analyst Brent Thill on Wednesday designated Amazon (ticker: AMZN) shares a Franchise Pick, repeating a Buy rating and target of $4,200 for the stock price. On Wednesday, Amazon shares were up 0.95%, to $3,415.25.</p><p><blockquote>杰富瑞(Jefferies)分析师布伦特·蒂尔(Brent Thill)周三指定亚马逊（股票代码：AMZN）股票为特许经营权选择，重申买入评级和4,200美元的股价目标。周三，亚马逊股价上涨0.95%，至3,415.25美元。</blockquote></p><p> He wrote in a research note that Amazon is likely to benefit from both increased e-commerce adoption and faster growth at higher-margin cloud and advertising businesses. The stock’s recent performance leaves it at a discount of about 10% discount to historical norms in terms of its multiple of forward earnings before interest, taxes, depreciation, and amortization, he noted.</p><p><blockquote>他在一份研究报告中写道，亚马逊可能会受益于电子商务采用率的增加以及利润率更高的云和广告业务的更快增长。他指出，该股最近的表现使其息税折旧摊销前远期收益倍数比历史正常水平低约10%。</blockquote></p><p> Although investors have shifted away from some of the pandemic-era winners, and concerns remain that e-commerce growth will slow as retail stores return to more normal operations, Thill said Amazon’s outlook is arguably better than ever.</p><p><blockquote>尽管投资者已经远离了一些大流行时代的赢家，并且仍然担心随着零售店恢复更正常的运营，电子商务增长将放缓，但蒂尔表示，亚马逊的前景可以说比以往任何时候都好。</blockquote></p><p> Behavioral changes resulting from the pandemic have led to a permanent increase in e-commerce adoption, Thill said. He also said growth at Amazon Web Services and in advertising will more than offset any near-term slowdown in the core retail business resulting from comparisons with high pandemic-era sales.</p><p><blockquote>蒂尔说，疫情带来的行为变化导致电子商务采用率永久增加。他还表示，亚马逊网络服务和广告的增长将足以抵消核心零售业务近期因与大流行时期的高销售额相比而放缓的影响。</blockquote></p><p> Thill said a proprietary survey of about 700 U.S. adults about their shopping habits found that 60% are spending more online since the pandemic began. And 63% of that group say they are continuing to do so even now that restrictions have been lifted. “Amazon is a clear standout,” he said, with 77% of consumers continuing to spend more on the site since restrictions were lifted.</p><p><blockquote>蒂尔表示，一项针对约700名美国成年人购物习惯的专有调查发现，自疫情开始以来，60%的人在网上消费增加了。63%的人表示，即使限制已经取消，他们仍在继续这样做。“亚马逊显然表现出色，”他说，自限制取消以来，77%的消费者继续在该网站上增加支出。</blockquote></p><p> In designating Amazon a Franchise Pick, Thill removed that status for Alphabet (GOOGL). He said that while he continues to like Alphabet shares, the 39% rally in the stock this year leaves it as a 10% premium to its historical average.</p><p><blockquote>在指定亚马逊为特许经营权时，蒂尔取消了Alphabet（GOOGL）的这一地位。他表示，虽然他仍然看好Alphabet股票，但该股今年上涨了39%，较历史平均水平溢价10%。</blockquote></p><p> Meanwhile, J.P. Morgan analyst Doug Anmuth on Wednesday did a deep dive on Amazon Prime, and reported that the service, priced at $119 a year, delivers about $1,000 a year of value. That includes not just free delivery of many products sold on Amazon, in some instances on the same day, but also Amazon Prime Video, Prime Music, and grocery delivery from both Amazon Fresh and Whole Foods.</p><p><blockquote>与此同时，摩根大通分析师道格·安穆斯(Doug Anmuth)周三对亚马逊Prime进行了深入研究，并报告称，这项每年定价为119美元的服务每年可提供约1,000美元的价值。这不仅包括亚马逊上销售的许多产品的免费送货，在某些情况下是在同一天，还包括亚马逊Prime Video、Prime Music以及亚马逊生鲜和全食超市的杂货送货。</blockquote></p><p> He noted that the company has been investing heavily in content for Amazon Prime, including the pending&nbsp;MGM acquisition&nbsp;and buying the rights to stream&nbsp;Thursday Night Football, while also expanding its podcast offerings on Amazon Music. The company has also added&nbsp;Amazon Key, a service for in-garage delivery in more than 5,000 U.S. cities.</p><p><blockquote>他指出，该公司一直在亚马逊Prime的内容上投入巨资，包括即将进行的米高梅收购和购买周四橄榄球之夜的转播权，同时还扩大了亚马逊音乐上的播客产品。该公司还增加了Amazon Key，这是一项在美国5000多个城市提供车库内送货服务。</blockquote></p><p> Anmuth said Amazon hasn’t increased the price of Prime since 2018, when it raised the rate to $119 a year, from $99. He thinks a price increase could come as early as the second half of 2021.</p><p><blockquote>Anmuth表示，亚马逊自2018年将Prime的价格从每年99美元提高到119美元以来就没有提高过。他认为价格最早可能在2021年下半年上涨。</blockquote></p><p> The number of Prime subscribers will rise to 237.5 million in 2021 from 200 million last year as more people overseas sign up, Anmuth predicted. He said Amazon could boost its international subscribers by more than 50 million in current markets and that there are many more markets the company could add over time. He estimates the 2021 subscriber count will include about 91.9 million in the U.S. and 145.6 million internationally.</p><p><blockquote>Anmuth预测，随着越来越多的海外用户注册，Prime用户数量将从去年的2亿增至2021年的2.375亿。他表示，亚马逊可以在当前市场将其国际用户增加超过5000万，并且随着时间的推移，该公司还可以增加更多市场。他估计，2021年的用户数量将包括美国约9190万用户和国际1.456亿用户。</blockquote></p><p> Anmuth repeated his Overweight rating and $4,600 price target on Amazon shares.</p><p><blockquote>Anmuth重申了他对亚马逊股票的跑赢大盘评级和4,600美元的目标价。</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>Amazon Stock Has Underperformed. Two Analysts Advise Buying Now.<blockquote>亚马逊股票表现不佳。两位分析师建议立即买入。</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\">\nAmazon Stock Has Underperformed. Two Analysts Advise Buying Now.<blockquote>亚马逊股票表现不佳。两位分析师建议立即买入。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-06-17 08:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>While Amazon.com has produced astonishing growth in recent quarters, the stock has been stuck in neutral, up just 4% for the year to date, trailing the broad market by almost 10 percentage points. Some analysts believe the underperformance provides an opportunity for investors.</p><p><blockquote>尽管亚马逊最近几个季度取得了惊人的增长，但该股一直陷入中性，今年迄今仅上涨4%，落后大盘近10个百分点。一些分析师认为，表现不佳为投资者提供了机会。</blockquote></p><p> Jefferies analyst Brent Thill on Wednesday designated Amazon (ticker: AMZN) shares a Franchise Pick, repeating a Buy rating and target of $4,200 for the stock price. On Wednesday, Amazon shares were up 0.95%, to $3,415.25.</p><p><blockquote>杰富瑞(Jefferies)分析师布伦特·蒂尔(Brent Thill)周三指定亚马逊（股票代码：AMZN）股票为特许经营权选择，重申买入评级和4,200美元的股价目标。周三，亚马逊股价上涨0.95%，至3,415.25美元。</blockquote></p><p> He wrote in a research note that Amazon is likely to benefit from both increased e-commerce adoption and faster growth at higher-margin cloud and advertising businesses. The stock’s recent performance leaves it at a discount of about 10% discount to historical norms in terms of its multiple of forward earnings before interest, taxes, depreciation, and amortization, he noted.</p><p><blockquote>他在一份研究报告中写道，亚马逊可能会受益于电子商务采用率的增加以及利润率更高的云和广告业务的更快增长。他指出，该股最近的表现使其息税折旧摊销前远期收益倍数比历史正常水平低约10%。</blockquote></p><p> Although investors have shifted away from some of the pandemic-era winners, and concerns remain that e-commerce growth will slow as retail stores return to more normal operations, Thill said Amazon’s outlook is arguably better than ever.</p><p><blockquote>尽管投资者已经远离了一些大流行时代的赢家，并且仍然担心随着零售店恢复更正常的运营，电子商务增长将放缓，但蒂尔表示，亚马逊的前景可以说比以往任何时候都好。</blockquote></p><p> Behavioral changes resulting from the pandemic have led to a permanent increase in e-commerce adoption, Thill said. He also said growth at Amazon Web Services and in advertising will more than offset any near-term slowdown in the core retail business resulting from comparisons with high pandemic-era sales.</p><p><blockquote>蒂尔说，疫情带来的行为变化导致电子商务采用率永久增加。他还表示，亚马逊网络服务和广告的增长将足以抵消核心零售业务近期因与大流行时期的高销售额相比而放缓的影响。</blockquote></p><p> Thill said a proprietary survey of about 700 U.S. adults about their shopping habits found that 60% are spending more online since the pandemic began. And 63% of that group say they are continuing to do so even now that restrictions have been lifted. “Amazon is a clear standout,” he said, with 77% of consumers continuing to spend more on the site since restrictions were lifted.</p><p><blockquote>蒂尔表示，一项针对约700名美国成年人购物习惯的专有调查发现，自疫情开始以来，60%的人在网上消费增加了。63%的人表示，即使限制已经取消，他们仍在继续这样做。“亚马逊显然表现出色，”他说，自限制取消以来，77%的消费者继续在该网站上增加支出。</blockquote></p><p> In designating Amazon a Franchise Pick, Thill removed that status for Alphabet (GOOGL). He said that while he continues to like Alphabet shares, the 39% rally in the stock this year leaves it as a 10% premium to its historical average.</p><p><blockquote>在指定亚马逊为特许经营权时，蒂尔取消了Alphabet（GOOGL）的这一地位。他表示，虽然他仍然看好Alphabet股票，但该股今年上涨了39%，较历史平均水平溢价10%。</blockquote></p><p> Meanwhile, J.P. Morgan analyst Doug Anmuth on Wednesday did a deep dive on Amazon Prime, and reported that the service, priced at $119 a year, delivers about $1,000 a year of value. That includes not just free delivery of many products sold on Amazon, in some instances on the same day, but also Amazon Prime Video, Prime Music, and grocery delivery from both Amazon Fresh and Whole Foods.</p><p><blockquote>与此同时，摩根大通分析师道格·安穆斯(Doug Anmuth)周三对亚马逊Prime进行了深入研究，并报告称，这项每年定价为119美元的服务每年可提供约1,000美元的价值。这不仅包括亚马逊上销售的许多产品的免费送货，在某些情况下是在同一天，还包括亚马逊Prime Video、Prime Music以及亚马逊生鲜和全食超市的杂货送货。</blockquote></p><p> He noted that the company has been investing heavily in content for Amazon Prime, including the pending&nbsp;MGM acquisition&nbsp;and buying the rights to stream&nbsp;Thursday Night Football, while also expanding its podcast offerings on Amazon Music. The company has also added&nbsp;Amazon Key, a service for in-garage delivery in more than 5,000 U.S. cities.</p><p><blockquote>他指出，该公司一直在亚马逊Prime的内容上投入巨资，包括即将进行的米高梅收购和购买周四橄榄球之夜的转播权，同时还扩大了亚马逊音乐上的播客产品。该公司还增加了Amazon Key，这是一项在美国5000多个城市提供车库内送货服务。</blockquote></p><p> Anmuth said Amazon hasn’t increased the price of Prime since 2018, when it raised the rate to $119 a year, from $99. He thinks a price increase could come as early as the second half of 2021.</p><p><blockquote>Anmuth表示，亚马逊自2018年将Prime的价格从每年99美元提高到119美元以来就没有提高过。他认为价格最早可能在2021年下半年上涨。</blockquote></p><p> The number of Prime subscribers will rise to 237.5 million in 2021 from 200 million last year as more people overseas sign up, Anmuth predicted. He said Amazon could boost its international subscribers by more than 50 million in current markets and that there are many more markets the company could add over time. He estimates the 2021 subscriber count will include about 91.9 million in the U.S. and 145.6 million internationally.</p><p><blockquote>Anmuth预测，随着越来越多的海外用户注册，Prime用户数量将从去年的2亿增至2021年的2.375亿。他表示，亚马逊可以在当前市场将其国际用户增加超过5000万，并且随着时间的推移，该公司还可以增加更多市场。他估计，2021年的用户数量将包括美国约9190万用户和国际1.456亿用户。</blockquote></p><p> Anmuth repeated his Overweight rating and $4,600 price target on Amazon shares.</p><p><blockquote>Anmuth重申了他对亚马逊股票的跑赢大盘评级和4,600美元的目标价。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/amazon-stock-analysts-buy-now-51623858237?mod=hp_DAY_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":{"AMZN":"亚马逊"},"source_url":"https://www.barrons.com/articles/amazon-stock-analysts-buy-now-51623858237?mod=hp_DAY_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124213234","content_text":"While Amazon.com has produced astonishing growth in recent quarters, the stock has been stuck in neutral, up just 4% for the year to date, trailing the broad market by almost 10 percentage points. Some analysts believe the underperformance provides an opportunity for investors.\nJefferies analyst Brent Thill on Wednesday designated Amazon (ticker: AMZN) shares a Franchise Pick, repeating a Buy rating and target of $4,200 for the stock price. On Wednesday, Amazon shares were up 0.95%, to $3,415.25.\nHe wrote in a research note that Amazon is likely to benefit from both increased e-commerce adoption and faster growth at higher-margin cloud and advertising businesses. The stock’s recent performance leaves it at a discount of about 10% discount to historical norms in terms of its multiple of forward earnings before interest, taxes, depreciation, and amortization, he noted.\nAlthough investors have shifted away from some of the pandemic-era winners, and concerns remain that e-commerce growth will slow as retail stores return to more normal operations, Thill said Amazon’s outlook is arguably better than ever.\nBehavioral changes resulting from the pandemic have led to a permanent increase in e-commerce adoption, Thill said. He also said growth at Amazon Web Services and in advertising will more than offset any near-term slowdown in the core retail business resulting from comparisons with high pandemic-era sales.\nThill said a proprietary survey of about 700 U.S. adults about their shopping habits found that 60% are spending more online since the pandemic began. And 63% of that group say they are continuing to do so even now that restrictions have been lifted. “Amazon is a clear standout,” he said, with 77% of consumers continuing to spend more on the site since restrictions were lifted.\nIn designating Amazon a Franchise Pick, Thill removed that status for Alphabet (GOOGL). He said that while he continues to like Alphabet shares, the 39% rally in the stock this year leaves it as a 10% premium to its historical average.\nMeanwhile, J.P. Morgan analyst Doug Anmuth on Wednesday did a deep dive on Amazon Prime, and reported that the service, priced at $119 a year, delivers about $1,000 a year of value. That includes not just free delivery of many products sold on Amazon, in some instances on the same day, but also Amazon Prime Video, Prime Music, and grocery delivery from both Amazon Fresh and Whole Foods.\nHe noted that the company has been investing heavily in content for Amazon Prime, including the pending MGM acquisition and buying the rights to stream Thursday Night Football, while also expanding its podcast offerings on Amazon Music. The company has also added Amazon Key, a service for in-garage delivery in more than 5,000 U.S. cities.\nAnmuth said Amazon hasn’t increased the price of Prime since 2018, when it raised the rate to $119 a year, from $99. He thinks a price increase could come as early as the second half of 2021.\nThe number of Prime subscribers will rise to 237.5 million in 2021 from 200 million last year as more people overseas sign up, Anmuth predicted. He said Amazon could boost its international subscribers by more than 50 million in current markets and that there are many more markets the company could add over time. He estimates the 2021 subscriber count will include about 91.9 million in the U.S. and 145.6 million internationally.\nAnmuth repeated his Overweight rating and $4,600 price target on Amazon shares.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":359,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163579907,"gmtCreate":1623890148909,"gmtModify":1634026420928,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"The world bank still love fiat currency&nbsp;","listText":"The world bank still love fiat currency&nbsp;","text":"The world bank still love fiat currency","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/163579907","repostId":"1191044253","repostType":4,"isVote":1,"tweetType":1,"viewCount":617,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163542559,"gmtCreate":1623890038271,"gmtModify":1634026424838,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"So will gold go up??","listText":"So will gold go up??","text":"So will gold go up??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/163542559","repostId":"2144713396","repostType":4,"repost":{"id":"2144713396","kind":"highlight","pubTimestamp":1623889510,"share":"https://www.laohu8.com/m/news/2144713396?lang=zh_CN&edition=full","pubTime":"2021-06-17 08:25","market":"us","language":"en","title":"What lumber and gold prices tell us about the stock market's next move<blockquote>木材和黄金价格告诉我们股市的下一步走势</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2144713396","media":"MarketWatch","summary":"Commodities have an effect on stocks but the one to watch is platinum. See full story .\nGETTY IMAGES","content":"<p>Commodities have an effect on stocks but the one to watch is platinum. See full story .</p><p><blockquote>大宗商品对股票有影响，但值得关注的是铂金。查看完整故事。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cae56c9abdfe2e326972f59f852b6c04\" tg-width=\"1260\" tg-height=\"840\"><span>GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>盖蒂图片</span></p></blockquote></p><p> Lumber prices have experienced one of their biggest and quickest plunges in history— with the spot futures contract dropping more than $670, or 40%, in just 25 trading sessions.</p><p><blockquote>木材价格经历了历史上最大、最快的暴跌之一——现货期货合约在短短25个交易日内下跌了670多美元，即40%。</blockquote></p><p> It’s human nature to try to find meaning in this, since the alternative is to accept that price changes this momentous are nothing more than merely random fluctuations. None of us like to accept that our investment portfolios could be subject to such cruel twists of fate.</p><p><blockquote>试图从中找到意义是人类的天性，因为另一种选择是接受如此重大的价格变化只不过是随机波动。我们都不愿意接受我们的投资组合可能会遭受如此残酷的命运扭曲。</blockquote></p><p> One way in which some are finding meaning in lumber’s decline is via a market-timing indicator based on the ratio of lumber&nbsp;to gold.One&nbsp;study&nbsp;found that when the ratio is higher than where it was 13 weeks previously, conditions should be favorable for U.S. stocks. When it’s lower, U.S. Treasury bonds are preferred.</p><p><blockquote>一些人发现木材下跌意义的一种方式是通过基于木材与黄金比率的市场时机指标。一项研究发现，当这一比率高于13周前的水平时，情况应该对美国股市有利。较低时，首选美国国债。</blockquote></p><p> Not surprisingly, given lumber’s recent plunge, this ratio’s current message is bearish for stocks. (See chart below.) To help determine how much weight to place on that message, I tested the ratio back to 1984 — which is how far back data extend on FactSet. For each week since then, I calculated whether the ratio was higher or lower than where it was 13 weeks previously.</p><p><blockquote>毫不奇怪，鉴于木材最近的暴跌，该比率目前传达的信息对股市不利。（见下图。）为了帮助确定该消息的权重，我测试了1984年的比率——这是数据在FactSet上延伸的时间。从那以后的每一周，我都会计算这个比率是高于还是低于13周前的水平。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c3b4a71a21eea91205bffc083189f6a1\" tg-width=\"1260\" tg-height=\"849\"></p><p><blockquote></blockquote></p><p> The table below reports the frequency of a rising market as a function of whether the lumber-gold ratio’s 13-week change was positive or negative. I used the Wilshire 5000’s Total Return Index as the market benchmark.</p><p><blockquote>下表报告了市场上涨的频率，作为木材-黄金比率13周变化是正还是负的函数。我使用Wilshire 5000的总回报指数作为市场基准。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b87c08d2f35d4035d6679a53b43dad2d\" tg-width=\"1260\" tg-height=\"377\"></p><p><blockquote></blockquote></p><p> Notice that the lumber-gold ratio makes little to no difference to the frequency of a higher stock market. This suggests that the recent downturn in the lumber-gold ratio may not be as alarming as it otherwise might appear.</p><p><blockquote>请注意，木材与黄金的比率对股市上涨的频率几乎没有影响。这表明，最近木材与黄金比率的低迷可能并不像看起来那么令人担忧。</blockquote></p><p> Of course, it’s possible that even though a decline isn’t more likely when the ratio’s 13-week change is negative, the declines that do take place are more severe. The table below reports the relevant data, which tell a similar story as the table above.</p><p><blockquote>当然，尽管当该比率的13周变化为负时，下降的可能性不大，但确实发生的下降可能会更加严重。下表报告了相关数据，讲述了与上表相似的故事。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8a25f2a5327104a15712a37d05c39479\" tg-width=\"1260\" tg-height=\"265\"></p><p><blockquote></blockquote></p><p> To be sure, this discussion is not an exhaustive analysis of the lumber-gold ratio’s potential value. There may be other ways of slicing and dicing the data that uncover ways in which it can be of use to investors. Nevertheless, the data would seem to suggest that the recent downturn in the lumber-gold ratio is not in and of itself a huge cause for alarm.</p><p><blockquote>可以肯定的是，这次讨论并不是对木材-黄金比率潜在价值的详尽分析。可能还有其他方法来分割数据，以揭示数据对投资者有用的方式。然而，数据似乎表明，最近木材与黄金比率的低迷本身并不是一个令人震惊的巨大原因。</blockquote></p><p> None of these results guarantees that the stock market won’t experience a correction in coming weeks, or even begin a bear market. It very much could, at any time, given&nbsp;how overvalued the stock market is. My point is that, as far as I can see, the declining lumber-gold ratio is not an additional reason for predicting such a downturn.</p><p><blockquote>这些结果都不能保证股市在未来几周内不会出现调整，甚至不会开始熊市。鉴于股市被高估的程度，任何时候都有可能发生这种情况。我的观点是，在我看来，木材与黄金比率的下降并不是预测这种低迷的额外原因。</blockquote></p><p> <b>Gold-platinum ratio</b></p><p><blockquote><b>金铂比</b></blockquote></p><p> In the meantime, you may want to give the stock market the benefit of the doubt. That’s because of another commodity-market-based ratio that&nbsp;a peer-reviewed academic study&nbsp;has found to have an excellent record forecasting the stock market’s 12-month return. This other ratio is the price of gold divided by the price of platinum.</p><p><blockquote>与此同时，你可能想假定股市是无辜的。这是因为另一项基于大宗商品市场的比率，一项同行评审的学术研究发现，该比率在预测股市12个月回报方面有着出色的记录。另一个比率是黄金价格除以铂金价格。</blockquote></p><p> I most&nbsp;recently wrote about this ratio in February. Though the ratio is a lot lower today than the multiyear high it set at the bottom of last March’s waterfall decline, it still is above its long-term average. Accordingly, though the stock market’s upside potential over the next 12 months is nowhere as strong as it was as year ago, it still is above average.</p><p><blockquote>我最近一次写这个比率是在二月份。尽管今天的这一比率远低于去年3月瀑布式下跌底部创下的多年高点，但仍高于长期平均水平。因此，尽管股市未来12个月的上涨潜力远不如一年前，但仍高于平均水平。</blockquote></p><p></p>","source":"lsy1603348471595","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>What lumber and gold prices tell us about the stock market's next move<blockquote>木材和黄金价格告诉我们股市的下一步走势</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\">\nWhat lumber and gold prices tell us about the stock market's next move<blockquote>木材和黄金价格告诉我们股市的下一步走势</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-17 08:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Commodities have an effect on stocks but the one to watch is platinum. See full story .</p><p><blockquote>大宗商品对股票有影响，但值得关注的是铂金。查看完整故事。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cae56c9abdfe2e326972f59f852b6c04\" tg-width=\"1260\" tg-height=\"840\"><span>GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>盖蒂图片</span></p></blockquote></p><p> Lumber prices have experienced one of their biggest and quickest plunges in history— with the spot futures contract dropping more than $670, or 40%, in just 25 trading sessions.</p><p><blockquote>木材价格经历了历史上最大、最快的暴跌之一——现货期货合约在短短25个交易日内下跌了670多美元，即40%。</blockquote></p><p> It’s human nature to try to find meaning in this, since the alternative is to accept that price changes this momentous are nothing more than merely random fluctuations. None of us like to accept that our investment portfolios could be subject to such cruel twists of fate.</p><p><blockquote>试图从中找到意义是人类的天性，因为另一种选择是接受如此重大的价格变化只不过是随机波动。我们都不愿意接受我们的投资组合可能会遭受如此残酷的命运扭曲。</blockquote></p><p> One way in which some are finding meaning in lumber’s decline is via a market-timing indicator based on the ratio of lumber&nbsp;to gold.One&nbsp;study&nbsp;found that when the ratio is higher than where it was 13 weeks previously, conditions should be favorable for U.S. stocks. When it’s lower, U.S. Treasury bonds are preferred.</p><p><blockquote>一些人发现木材下跌意义的一种方式是通过基于木材与黄金比率的市场时机指标。一项研究发现，当这一比率高于13周前的水平时，情况应该对美国股市有利。较低时，首选美国国债。</blockquote></p><p> Not surprisingly, given lumber’s recent plunge, this ratio’s current message is bearish for stocks. (See chart below.) To help determine how much weight to place on that message, I tested the ratio back to 1984 — which is how far back data extend on FactSet. For each week since then, I calculated whether the ratio was higher or lower than where it was 13 weeks previously.</p><p><blockquote>毫不奇怪，鉴于木材最近的暴跌，该比率目前传达的信息对股市不利。（见下图。）为了帮助确定该消息的权重，我测试了1984年的比率——这是数据在FactSet上延伸的时间。从那以后的每一周，我都会计算这个比率是高于还是低于13周前的水平。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c3b4a71a21eea91205bffc083189f6a1\" tg-width=\"1260\" tg-height=\"849\"></p><p><blockquote></blockquote></p><p> The table below reports the frequency of a rising market as a function of whether the lumber-gold ratio’s 13-week change was positive or negative. I used the Wilshire 5000’s Total Return Index as the market benchmark.</p><p><blockquote>下表报告了市场上涨的频率，作为木材-黄金比率13周变化是正还是负的函数。我使用Wilshire 5000的总回报指数作为市场基准。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b87c08d2f35d4035d6679a53b43dad2d\" tg-width=\"1260\" tg-height=\"377\"></p><p><blockquote></blockquote></p><p> Notice that the lumber-gold ratio makes little to no difference to the frequency of a higher stock market. This suggests that the recent downturn in the lumber-gold ratio may not be as alarming as it otherwise might appear.</p><p><blockquote>请注意，木材与黄金的比率对股市上涨的频率几乎没有影响。这表明，最近木材与黄金比率的低迷可能并不像看起来那么令人担忧。</blockquote></p><p> Of course, it’s possible that even though a decline isn’t more likely when the ratio’s 13-week change is negative, the declines that do take place are more severe. The table below reports the relevant data, which tell a similar story as the table above.</p><p><blockquote>当然，尽管当该比率的13周变化为负时，下降的可能性不大，但确实发生的下降可能会更加严重。下表报告了相关数据，讲述了与上表相似的故事。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8a25f2a5327104a15712a37d05c39479\" tg-width=\"1260\" tg-height=\"265\"></p><p><blockquote></blockquote></p><p> To be sure, this discussion is not an exhaustive analysis of the lumber-gold ratio’s potential value. There may be other ways of slicing and dicing the data that uncover ways in which it can be of use to investors. Nevertheless, the data would seem to suggest that the recent downturn in the lumber-gold ratio is not in and of itself a huge cause for alarm.</p><p><blockquote>可以肯定的是，这次讨论并不是对木材-黄金比率潜在价值的详尽分析。可能还有其他方法来分割数据，以揭示数据对投资者有用的方式。然而，数据似乎表明，最近木材与黄金比率的低迷本身并不是一个令人震惊的巨大原因。</blockquote></p><p> None of these results guarantees that the stock market won’t experience a correction in coming weeks, or even begin a bear market. It very much could, at any time, given&nbsp;how overvalued the stock market is. My point is that, as far as I can see, the declining lumber-gold ratio is not an additional reason for predicting such a downturn.</p><p><blockquote>这些结果都不能保证股市在未来几周内不会出现调整，甚至不会开始熊市。鉴于股市被高估的程度，任何时候都有可能发生这种情况。我的观点是，在我看来，木材与黄金比率的下降并不是预测这种低迷的额外原因。</blockquote></p><p> <b>Gold-platinum ratio</b></p><p><blockquote><b>金铂比</b></blockquote></p><p> In the meantime, you may want to give the stock market the benefit of the doubt. That’s because of another commodity-market-based ratio that&nbsp;a peer-reviewed academic study&nbsp;has found to have an excellent record forecasting the stock market’s 12-month return. This other ratio is the price of gold divided by the price of platinum.</p><p><blockquote>与此同时，你可能想假定股市是无辜的。这是因为另一项基于大宗商品市场的比率，一项同行评审的学术研究发现，该比率在预测股市12个月回报方面有着出色的记录。另一个比率是黄金价格除以铂金价格。</blockquote></p><p> I most&nbsp;recently wrote about this ratio in February. Though the ratio is a lot lower today than the multiyear high it set at the bottom of last March’s waterfall decline, it still is above its long-term average. Accordingly, though the stock market’s upside potential over the next 12 months is nowhere as strong as it was as year ago, it still is above average.</p><p><blockquote>我最近一次写这个比率是在二月份。尽管今天的这一比率远低于去年3月瀑布式下跌底部创下的多年高点，但仍高于长期平均水平。因此，尽管股市未来12个月的上涨潜力远不如一年前，但仍高于平均水平。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/what-lumber-and-gold-prices-tell-us-about-the-stock-markets-next-move-11623811154?mod=home-page\">MarketWatch</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":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/what-lumber-and-gold-prices-tell-us-about-the-stock-markets-next-move-11623811154?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2144713396","content_text":"Commodities have an effect on stocks but the one to watch is platinum. See full story .\nGETTY IMAGES\nLumber prices have experienced one of their biggest and quickest plunges in history— with the spot futures contract dropping more than $670, or 40%, in just 25 trading sessions.\nIt’s human nature to try to find meaning in this, since the alternative is to accept that price changes this momentous are nothing more than merely random fluctuations. None of us like to accept that our investment portfolios could be subject to such cruel twists of fate.\nOne way in which some are finding meaning in lumber’s decline is via a market-timing indicator based on the ratio of lumber to gold.One study found that when the ratio is higher than where it was 13 weeks previously, conditions should be favorable for U.S. stocks. When it’s lower, U.S. Treasury bonds are preferred.\nNot surprisingly, given lumber’s recent plunge, this ratio’s current message is bearish for stocks. (See chart below.) To help determine how much weight to place on that message, I tested the ratio back to 1984 — which is how far back data extend on FactSet. For each week since then, I calculated whether the ratio was higher or lower than where it was 13 weeks previously.\n\nThe table below reports the frequency of a rising market as a function of whether the lumber-gold ratio’s 13-week change was positive or negative. I used the Wilshire 5000’s Total Return Index as the market benchmark.\n\nNotice that the lumber-gold ratio makes little to no difference to the frequency of a higher stock market. This suggests that the recent downturn in the lumber-gold ratio may not be as alarming as it otherwise might appear.\nOf course, it’s possible that even though a decline isn’t more likely when the ratio’s 13-week change is negative, the declines that do take place are more severe. The table below reports the relevant data, which tell a similar story as the table above.\n\nTo be sure, this discussion is not an exhaustive analysis of the lumber-gold ratio’s potential value. There may be other ways of slicing and dicing the data that uncover ways in which it can be of use to investors. Nevertheless, the data would seem to suggest that the recent downturn in the lumber-gold ratio is not in and of itself a huge cause for alarm.\nNone of these results guarantees that the stock market won’t experience a correction in coming weeks, or even begin a bear market. It very much could, at any time, given how overvalued the stock market is. My point is that, as far as I can see, the declining lumber-gold ratio is not an additional reason for predicting such a downturn.\nGold-platinum ratio\nIn the meantime, you may want to give the stock market the benefit of the doubt. That’s because of another commodity-market-based ratio that a peer-reviewed academic study has found to have an excellent record forecasting the stock market’s 12-month return. This other ratio is the price of gold divided by the price of platinum.\nI most recently wrote about this ratio in February. Though the ratio is a lot lower today than the multiyear high it set at the bottom of last March’s waterfall decline, it still is above its long-term average. Accordingly, though the stock market’s upside potential over the next 12 months is nowhere as strong as it was as year ago, it still is above average.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":450,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163543165,"gmtCreate":1623889969157,"gmtModify":1634026429399,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Prata again","listText":"Prata again","text":"Prata 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sold - panic!!!","listText":"Sell, sold - panic!!!","text":"Sell, sold - panic!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/191671625","repostId":"2135584610","repostType":4,"isVote":1,"tweetType":1,"viewCount":485,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102715835,"gmtCreate":1620253547327,"gmtModify":1634206729348,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"May day!!!","listText":"May day!!!","text":"May day!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/102715835","repostId":"1115822888","repostType":4,"isVote":1,"tweetType":1,"viewCount":468,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156039390,"gmtCreate":1625185190010,"gmtModify":1631890378929,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Grow","listText":"Grow","text":"Grow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/156039390","repostId":"1175817125","repostType":4,"repost":{"id":"1175817125","kind":"news","pubTimestamp":1625180880,"share":"https://www.laohu8.com/m/news/1175817125?lang=zh_CN&edition=full","pubTime":"2021-07-02 07:08","market":"us","language":"en","title":"S&P 500 winning streak extends to sixth straight record close<blockquote>标普500连胜纪录延续至六连胜纪录收盘</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175817125","media":"Reuters","summary":"NEW YORK  - The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.Investors now eye Friday’s much-anticipated employment report.The bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.“Historical data shows if you have a strong first half, the second half of the year was ac","content":"<p>NEW YORK (Reuters) - The S&amp;P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.</p><p><blockquote>路透纽约4月5日电——标普500周四连续第六次创下历史收盘新高，新的季度和下半年以乐观的经济数据和广泛的反弹开始。</blockquote></p><p> Investors now eye Friday’s much-anticipated employment report.</p><p><blockquote>投资者现在关注周五备受期待的就业报告。</blockquote></p><p> The bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.</p><p><blockquote>该领头羊指数正在享受自2月初以来最长的连涨，上一次连续六次创下历史新高是在去年8月。</blockquote></p><p> “Historical data shows if you have a strong first half, the second half of the year was actually going even stronger,” said Ross Mayfield, investment strategy analyst with Baird Private Wealth.</p><p><blockquote>Baird Private Wealth投资策略分析师罗斯·梅菲尔德(Ross Mayfield)表示：“历史数据显示，如果上半年表现强劲，那么下半年实际上会更加强劲。”</blockquote></p><p> All three major U.S. stock indexes ended the session in positive territory, but a decline in tech shares - led by microchips - tempered the Nasdaq’s gain.</p><p><blockquote>美国三大股指均收涨，但以微芯片为首的科技股下跌削弱了纳斯达克的涨幅。</blockquote></p><p> The Philadelphia SE Semiconductor index slid 1.5%</p><p><blockquote>费城SE半导体指数下跌1.5%</blockquote></p><p> “For markets so far this year, boring is beautiful,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. “Economic growth has been strong enough to support prices and many asset classes are trading with historically low volatility.”</p><p><blockquote>纽约Lenox Wealth Advisors首席投资官David Carter表示：“对于今年迄今为止的市场来说，无聊是美好的。”“经济增长强劲，足以支撑价格，许多资产类别的交易波动性处于历史低位。”</blockquote></p><p> “It feels like investors left for the Fourth of July weekend about three months ago.”</p><p><blockquote>“感觉投资者大约三个月前就离开了7月4日周末。”</blockquote></p><p> The ongoing worker shortage, attributed to federal emergency unemployment benefits, a childcare shortage and lingering pandemic fears, was a common theme in the day’s economic data.</p><p><blockquote>由于联邦紧急失业救济金、儿童保育短缺和挥之不去的大流行担忧，持续的工人短缺是当天经济数据中的一个共同主题。</blockquote></p><p> Jobless claims continued their downward trajectory according to the Labor Department, touching their lowest level since the pandemic shutdown, and a report from Challenger, Gray &amp; Christmas showed planned layoffs by U.S. firms were down 88% from last year, hitting a 21-year low.</p><p><blockquote>根据劳工部的数据，初请失业金人数继续下降，达到大流行关闭以来的最低水平，Challenger，Gray&amp;Christmas的一份报告显示，美国企业的计划裁员人数比去年下降了88%，创下21年来的新低。</blockquote></p><p> Activity at U.S. factories expanded at a slightly decelerated pace in June, according to the Institute for Supply Management’s (ISM) purchasing managers’ index (PMI), with the employment component dipping into contraction for the first time since November. The prices paid index, driven higher by the current demand/supply imbalance, soared to its highest level since 1979, according to ISM.</p><p><blockquote>根据美国供应管理协会(ISM)的采购经理人指数(PMI)，6月份美国工厂活动扩张速度略有放缓，其中就业部分自11月份以来首次陷入收缩。根据ISM的数据，在当前供需失衡的推动下，支付价格指数飙升至1979年以来的最高水平。</blockquote></p><p> “The employment and manufacturing data released today supported the idea of continued growth but at a decelerated rate,” Carter added.</p><p><blockquote>卡特补充道：“今天公布的就业和制造业数据支持了持续增长但增速放缓的观点。”</blockquote></p><p> Friday’s hotly anticipated jobs report is expected to show payrolls growing by 700,000 and unemployment inching down to 5.7%. A robust upside surprise could lead the U.S. Federal Reserve to adjust its timetable for tapering its securities purchases and raising key interest rates.</p><p><blockquote>周五备受期待的就业报告预计将显示就业人数增加70万，失业率小幅下降至5.7%。强劲的上行意外可能会导致美联储调整缩减证券购买和提高关键利率的时间表。</blockquote></p><p> “Too-strong economic data could perversely be a bad thing for markets if it caused the Fed to raise rates faster than expected,” Carter said. “Weak employment data may actually be welcomed.”</p><p><blockquote>卡特表示：“如果过于强劲的经济数据导致美联储加息速度快于预期，那么对市场来说可能是一件坏事。”“疲软的就业数据实际上可能会受到欢迎。”</blockquote></p><p> The Dow Jones Industrial Average rose 131.02 points, or 0.38%, to 34,633.53, the S&amp;P 500 gained 22.44 points, or 0.52%, to 4,319.94 and the Nasdaq Composite added 18.42 points, or 0.13%, to 14,522.38.</p><p><blockquote>道琼斯工业平均指数上涨131.02点，涨幅0.38%，至34,633.53点；标普500上涨22.44点，涨幅0.52%，至4,319.94点；纳斯达克综合指数上涨18.42点，涨幅0.13%，至14,522.38点。</blockquote></p><p> Of the 11 major sectors in the S&amp;P 500, consumer staples was the sole loser, shedding 0.3%.</p><p><blockquote>在标普500的11个主要板块中，必需消费品是唯一的跌幅，下跌0.3%。</blockquote></p><p> Walgreens Boots Alliance Inc dropped 7.4% after it said it expects to administer fewer COVID-19 vaccine shots in the fourth quarter.</p><p><blockquote>沃尔格林博姿联盟公司(Walgreens Boots Alliance Inc)表示预计第四季度将减少COVID-19疫苗注射量，股价下跌7.4%。</blockquote></p><p> Didi Global Inc jumped 16.0%, on its second day of trading as a U.S.-listed company.</p><p><blockquote>滴滴出行在美国上市第二天上涨16.0%。</blockquote></p><p> Micron Technology Inc slid by 5.7% following a report that Texas Instruments would buy Micron’s Lehi, Utah, factory for $900 million.</p><p><blockquote>有报道称德州仪器(Texas Instruments)将以9亿美元收购美光科技(Micron Technology Inc)位于犹他州利希(Lehi)的工厂，该公司股价下跌5.7%。</blockquote></p><p> Advancing issues outnumbered declining ones on the NYSE by a 1.78-to-1 ratio; on Nasdaq, a 1.32-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为1.78比1；在纳斯达克，1.32比1的比率有利于上涨者。</blockquote></p><p> The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 78 new highs and 30 new lows.</p><p><blockquote>标普500创下36个52周新高，无新低；纳斯达克综合指数录得78个新高和30个新低。</blockquote></p><p> Volume on U.S. exchanges was 9.53 billion shares, compared with the 10.9 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为95.3亿股，而过去20个交易日的平均成交量为109亿股。</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>S&P 500 winning streak extends to sixth straight record close<blockquote>标普500连胜纪录延续至六连胜纪录收盘</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\">\nS&P 500 winning streak extends to sixth straight record close<blockquote>标普500连胜纪录延续至六连胜纪录收盘</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-07-02 07:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>NEW YORK (Reuters) - The S&amp;P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.</p><p><blockquote>路透纽约4月5日电——标普500周四连续第六次创下历史收盘新高，新的季度和下半年以乐观的经济数据和广泛的反弹开始。</blockquote></p><p> Investors now eye Friday’s much-anticipated employment report.</p><p><blockquote>投资者现在关注周五备受期待的就业报告。</blockquote></p><p> The bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.</p><p><blockquote>该领头羊指数正在享受自2月初以来最长的连涨，上一次连续六次创下历史新高是在去年8月。</blockquote></p><p> “Historical data shows if you have a strong first half, the second half of the year was actually going even stronger,” said Ross Mayfield, investment strategy analyst with Baird Private Wealth.</p><p><blockquote>Baird Private Wealth投资策略分析师罗斯·梅菲尔德(Ross Mayfield)表示：“历史数据显示，如果上半年表现强劲，那么下半年实际上会更加强劲。”</blockquote></p><p> All three major U.S. stock indexes ended the session in positive territory, but a decline in tech shares - led by microchips - tempered the Nasdaq’s gain.</p><p><blockquote>美国三大股指均收涨，但以微芯片为首的科技股下跌削弱了纳斯达克的涨幅。</blockquote></p><p> The Philadelphia SE Semiconductor index slid 1.5%</p><p><blockquote>费城SE半导体指数下跌1.5%</blockquote></p><p> “For markets so far this year, boring is beautiful,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. “Economic growth has been strong enough to support prices and many asset classes are trading with historically low volatility.”</p><p><blockquote>纽约Lenox Wealth Advisors首席投资官David Carter表示：“对于今年迄今为止的市场来说，无聊是美好的。”“经济增长强劲，足以支撑价格，许多资产类别的交易波动性处于历史低位。”</blockquote></p><p> “It feels like investors left for the Fourth of July weekend about three months ago.”</p><p><blockquote>“感觉投资者大约三个月前就离开了7月4日周末。”</blockquote></p><p> The ongoing worker shortage, attributed to federal emergency unemployment benefits, a childcare shortage and lingering pandemic fears, was a common theme in the day’s economic data.</p><p><blockquote>由于联邦紧急失业救济金、儿童保育短缺和挥之不去的大流行担忧，持续的工人短缺是当天经济数据中的一个共同主题。</blockquote></p><p> Jobless claims continued their downward trajectory according to the Labor Department, touching their lowest level since the pandemic shutdown, and a report from Challenger, Gray &amp; Christmas showed planned layoffs by U.S. firms were down 88% from last year, hitting a 21-year low.</p><p><blockquote>根据劳工部的数据，初请失业金人数继续下降，达到大流行关闭以来的最低水平，Challenger，Gray&amp;Christmas的一份报告显示，美国企业的计划裁员人数比去年下降了88%，创下21年来的新低。</blockquote></p><p> Activity at U.S. factories expanded at a slightly decelerated pace in June, according to the Institute for Supply Management’s (ISM) purchasing managers’ index (PMI), with the employment component dipping into contraction for the first time since November. The prices paid index, driven higher by the current demand/supply imbalance, soared to its highest level since 1979, according to ISM.</p><p><blockquote>根据美国供应管理协会(ISM)的采购经理人指数(PMI)，6月份美国工厂活动扩张速度略有放缓，其中就业部分自11月份以来首次陷入收缩。根据ISM的数据，在当前供需失衡的推动下，支付价格指数飙升至1979年以来的最高水平。</blockquote></p><p> “The employment and manufacturing data released today supported the idea of continued growth but at a decelerated rate,” Carter added.</p><p><blockquote>卡特补充道：“今天公布的就业和制造业数据支持了持续增长但增速放缓的观点。”</blockquote></p><p> Friday’s hotly anticipated jobs report is expected to show payrolls growing by 700,000 and unemployment inching down to 5.7%. A robust upside surprise could lead the U.S. Federal Reserve to adjust its timetable for tapering its securities purchases and raising key interest rates.</p><p><blockquote>周五备受期待的就业报告预计将显示就业人数增加70万，失业率小幅下降至5.7%。强劲的上行意外可能会导致美联储调整缩减证券购买和提高关键利率的时间表。</blockquote></p><p> “Too-strong economic data could perversely be a bad thing for markets if it caused the Fed to raise rates faster than expected,” Carter said. “Weak employment data may actually be welcomed.”</p><p><blockquote>卡特表示：“如果过于强劲的经济数据导致美联储加息速度快于预期，那么对市场来说可能是一件坏事。”“疲软的就业数据实际上可能会受到欢迎。”</blockquote></p><p> The Dow Jones Industrial Average rose 131.02 points, or 0.38%, to 34,633.53, the S&amp;P 500 gained 22.44 points, or 0.52%, to 4,319.94 and the Nasdaq Composite added 18.42 points, or 0.13%, to 14,522.38.</p><p><blockquote>道琼斯工业平均指数上涨131.02点，涨幅0.38%，至34,633.53点；标普500上涨22.44点，涨幅0.52%，至4,319.94点；纳斯达克综合指数上涨18.42点，涨幅0.13%，至14,522.38点。</blockquote></p><p> Of the 11 major sectors in the S&amp;P 500, consumer staples was the sole loser, shedding 0.3%.</p><p><blockquote>在标普500的11个主要板块中，必需消费品是唯一的跌幅，下跌0.3%。</blockquote></p><p> Walgreens Boots Alliance Inc dropped 7.4% after it said it expects to administer fewer COVID-19 vaccine shots in the fourth quarter.</p><p><blockquote>沃尔格林博姿联盟公司(Walgreens Boots Alliance Inc)表示预计第四季度将减少COVID-19疫苗注射量，股价下跌7.4%。</blockquote></p><p> Didi Global Inc jumped 16.0%, on its second day of trading as a U.S.-listed company.</p><p><blockquote>滴滴出行在美国上市第二天上涨16.0%。</blockquote></p><p> Micron Technology Inc slid by 5.7% following a report that Texas Instruments would buy Micron’s Lehi, Utah, factory for $900 million.</p><p><blockquote>有报道称德州仪器(Texas Instruments)将以9亿美元收购美光科技(Micron Technology Inc)位于犹他州利希(Lehi)的工厂，该公司股价下跌5.7%。</blockquote></p><p> Advancing issues outnumbered declining ones on the NYSE by a 1.78-to-1 ratio; on Nasdaq, a 1.32-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为1.78比1；在纳斯达克，1.32比1的比率有利于上涨者。</blockquote></p><p> The S&amp;P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 78 new highs and 30 new lows.</p><p><blockquote>标普500创下36个52周新高，无新低；纳斯达克综合指数录得78个新高和30个新低。</blockquote></p><p> Volume on U.S. exchanges was 9.53 billion shares, compared with the 10.9 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为95.3亿股，而过去20个交易日的平均成交量为109亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-winning-streak-extends-to-sixth-straight-record-close-idUSL2N2OD332\">Reuters</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":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-winning-streak-extends-to-sixth-straight-record-close-idUSL2N2OD332","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175817125","content_text":"NEW YORK (Reuters) - The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.\nInvestors now eye Friday’s much-anticipated employment report.\nThe bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.\n“Historical data shows if you have a strong first half, the second half of the year was actually going even stronger,” said Ross Mayfield, investment strategy analyst with Baird Private Wealth.\nAll three major U.S. stock indexes ended the session in positive territory, but a decline in tech shares - led by microchips - tempered the Nasdaq’s gain.\nThe Philadelphia SE Semiconductor index slid 1.5%\n“For markets so far this year, boring is beautiful,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. “Economic growth has been strong enough to support prices and many asset classes are trading with historically low volatility.”\n“It feels like investors left for the Fourth of July weekend about three months ago.”\nThe ongoing worker shortage, attributed to federal emergency unemployment benefits, a childcare shortage and lingering pandemic fears, was a common theme in the day’s economic data.\nJobless claims continued their downward trajectory according to the Labor Department, touching their lowest level since the pandemic shutdown, and a report from Challenger, Gray & Christmas showed planned layoffs by U.S. firms were down 88% from last year, hitting a 21-year low.\nActivity at U.S. factories expanded at a slightly decelerated pace in June, according to the Institute for Supply Management’s (ISM) purchasing managers’ index (PMI), with the employment component dipping into contraction for the first time since November. The prices paid index, driven higher by the current demand/supply imbalance, soared to its highest level since 1979, according to ISM.\n“The employment and manufacturing data released today supported the idea of continued growth but at a decelerated rate,” Carter added.\nFriday’s hotly anticipated jobs report is expected to show payrolls growing by 700,000 and unemployment inching down to 5.7%. A robust upside surprise could lead the U.S. Federal Reserve to adjust its timetable for tapering its securities purchases and raising key interest rates.\n“Too-strong economic data could perversely be a bad thing for markets if it caused the Fed to raise rates faster than expected,” Carter said. “Weak employment data may actually be welcomed.”\nThe Dow Jones Industrial Average rose 131.02 points, or 0.38%, to 34,633.53, the S&P 500 gained 22.44 points, or 0.52%, to 4,319.94 and the Nasdaq Composite added 18.42 points, or 0.13%, to 14,522.38.\nOf the 11 major sectors in the S&P 500, consumer staples was the sole loser, shedding 0.3%.\nWalgreens Boots Alliance Inc dropped 7.4% after it said it expects to administer fewer COVID-19 vaccine shots in the fourth quarter.\nDidi Global Inc jumped 16.0%, on its second day of trading as a U.S.-listed company.\nMicron Technology Inc slid by 5.7% following a report that Texas Instruments would buy Micron’s Lehi, Utah, factory for $900 million.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.78-to-1 ratio; on Nasdaq, a 1.32-to-1 ratio favored advancers.\nThe S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 78 new highs and 30 new lows.\nVolume on U.S. exchanges was 9.53 billion shares, compared with the 10.9 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2326,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124900198,"gmtCreate":1624714231114,"gmtModify":1631890378928,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Yes to apple too!!","listText":"Yes to apple too!!","text":"Yes to apple too!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/124900198","repostId":"1108941456","repostType":4,"isVote":1,"tweetType":1,"viewCount":1331,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":196735529,"gmtCreate":1621121330961,"gmtModify":1634193999715,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Interesting- suspension of sales of collectable cards😂","listText":"Interesting- suspension of sales of collectable cards😂","text":"Interesting- suspension of sales of collectable cards😂","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/196735529","repostId":"1173244066","repostType":4,"repost":{"id":"1173244066","kind":"news","pubTimestamp":1621004086,"share":"https://www.laohu8.com/m/news/1173244066?lang=zh_CN&edition=full","pubTime":"2021-05-14 22:54","market":"us","language":"en","title":"What Disney, Airbnb and DoorDash results reveal about the post-pandemic economy<blockquote>迪士尼、爱彼迎和DoorDash的业绩揭示了大流行后经济的哪些信息</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1173244066","media":"CNN","summary":"London (CNN Business)Companies are gearing up for an era in which Covid-19 isn't the primary driver ","content":"<p>London (CNN Business)Companies are gearing up for an era in which Covid-19 isn't the primary driver of how people spend their money.</p><p><blockquote>伦敦（CNN Business）公司正在为一个新冠肺炎不再是人们花钱的主要驱动力的时代做准备。</blockquote></p><p> The big question: As the coronavirus situation improves in countries like the United States, which trends from the past 14 months will have staying power, and which will be resigned to the pandemic past?</p><p><blockquote>最大的问题是：随着美国等国家冠状病毒情况的改善，过去14个月的哪些趋势将具有持久力，哪些将听天由命于疫情的过去？</blockquote></p><p> Airbnb, DoorDash and Disney (DIS), which reported results after US markets closed on Thursday, provide some idea.</p><p><blockquote>爱彼迎、DoorDash和迪士尼(DIS)在周四美国市场收盘后公布了业绩，这提供了一些思路。</blockquote></p><p> Airbnb: The company said interest in travel is surging again as vaccines become more widely available, pointing to a sharp increase in bookings in the United Kingdom immediately after British Prime Minister Boris Johnson announced plans in February to gradually exit lockdown. For US customers aged 60 and above, searches on Airbnb for summer travel rose by more than 60% between February and March.</p><p><blockquote>爱彼迎：该公司表示，随着疫苗变得更加广泛，人们对旅行的兴趣再次激增，并指出在英国首相Boris Johnson在2月份宣布逐步解除封锁的计划后，英国的预订量立即急剧增加。对于60岁及以上的美国客户来说，2月至3月期间，爱彼迎上夏季旅行的搜索量增长了60%以上。</blockquote></p><p> The company is also ready for more customers to use Airbnb for longer-term stays as they take advantage of greater acceptance of remote work. It said that nearly a quarter of stays last quarter were for 28 days or more, up 14% from 2019. Shares are down slightly in premarket trading.</p><p><blockquote>该公司还准备让更多客户使用爱彼迎进行长期住宿，因为他们利用了远程工作的更大接受度。该公司表示，上季度近四分之一的停留时间为28天或以上，比2019年增长了14%。股价在盘前交易中小幅下跌。</blockquote></p><p> DoorDash: People are still ordering lots of food delivery even as restaurants open back up for traditional dining. DoorDash reported a 198% jump in revenue last quarter to $1.1 billion even as it dealt with a shortage of workers, and increased its full-year outlook.</p><p><blockquote>DoorDash：即使餐馆重新开放传统餐饮，人们仍然订购大量外卖。DoorDash报告称，尽管面临工人短缺的问题，上季度收入仍增长198%，达到11亿美元，并上调了全年预期。</blockquote></p><p> \"As markets continued reopening and in-store dining increased across the US, the impact to our order volume was smaller than we expected, which contributed to strong performance in the quarter,\" the company said, though it cautioned that may have been partially attributable to stimulus checks. Shares are up almost 9% in premarket trading.</p><p><blockquote>该公司表示：“随着市场继续重新开放以及美国各地店内餐饮的增加，对我们订单量的影响小于我们的预期，这有助于本季度的强劲业绩。”不过该公司警告说，这可能部分归因于刺激检查。股价在盘前交易中上涨近9%。</blockquote></p><p> Disney: Streaming has carried Disney through the pandemic, with Disney+ growing to more than 100 million subscribers. Yet the biggest star in Disney's media universe appears to be shining a little less bright, sending shares down 4%.</p><p><blockquote>迪士尼：流媒体让迪士尼穿越了疫情，Disney+的订户已经超过1亿。然而，迪士尼媒体领域最大的明星似乎不那么耀眼了，导致股价下跌4%。</blockquote></p><p> The company said Thursday that Disney+ now has 103.6 million subscribers, below the 110 million Wall Street was expecting. That's forced investors to wonder: Is that because people are getting vaccinated and stepping away from streaming? Netflix also reported sluggish subscription growth last quarter.</p><p><blockquote>该公司周四表示，Disney+目前拥有1.036亿订阅用户，低于华尔街预期的1.1亿。这迫使投资者想知道：这是因为人们正在接种疫苗并远离流媒体吗？Netflix上季度的订阅增长也缓慢。</blockquote></p><p> Down but not out: Disney said it remains on track to reach its long-term subscriber goals despite the apparent slowdown. It's betting that as the pandemic eases, it will be able to produce more movies and shows, helping to bring in new customers.</p><p><blockquote>下滑但并未出局：迪士尼表示，尽管经济明显放缓，但仍有望实现其长期订户目标。该公司押注，随着疫情的缓解，它将能够制作更多的电影和节目，帮助吸引新客户。</blockquote></p><p> Whether it's right will become clearer in the months ahead, which will pose the true test of whether people actually ditch their sweatpants, get out of the house and shake up the economy once again.</p><p><blockquote>这是否正确将在未来几个月变得更加清晰，这将是人们是否真的抛弃运动裤、走出家门并再次撼动经济的真正考验。</blockquote></p><p> <b>It could get easier to get a credit card without a credit score</b></p><p><blockquote><b>无需信用评分即可获得信用卡可能会变得更容易</b></blockquote></p><p> For years, if you didn't have a credit score it was extremely difficult to get a credit card or certain types of loans. But a new plan among some of the nation's largest banks may help Americans without traditional credit histories get approved.</p><p><blockquote>多年来，如果你没有信用评分，很难获得信用卡或某些类型的贷款。但美国一些最大银行的一项新计划可能会帮助没有传统信用记录的美国人获得批准。</blockquote></p><p> Ten banks — including JPMorgan Chase (JPM), Wells Fargo (WFC) and U.S. Bancorp (USB) — have tentatively agreed to a plan to share data like bank account deposits and bill payment activity to help qualify borrowers without traditional credit histories, according to the Wall Street Journal.</p><p><blockquote>据报道，包括摩根大通(JPM)、富国银行(WFC)和美国合众银行(USB)在内的十家银行已初步同意一项共享银行账户存款和账单支付活动等数据的计划，以帮助没有传统信用记录的借款人获得资格。华尔街日报。</blockquote></p><p> The push for financial institutions to come to a data sharing agreement came from a program run by the Office of the Comptroller of the Currency. The OCC has confirmed there is a plan, but the details of the agreement among the banks still need to be worked out.</p><p><blockquote>金融机构达成数据共享协议的推动力来自货币监理署运行的一项计划。OCC已确认有一项计划，但银行之间协议的细节仍需制定。</blockquote></p><p> Should the proposed arrangement go through, it would mean that if you don't have a credit score but you have a bank account at Wells Fargo, for example, you can use that financial history to help you get a credit card with another bank, like JPMorgan Chase.</p><p><blockquote>如果拟议的安排获得通过，这将意味着，例如，如果您没有信用评分，但在富国银行拥有银行账户，您可以利用该财务历史记录来帮助您在另一家银行获得信用卡，例如摩根大通。</blockquote></p><p> \"This will give millions of Americans the opportunity to access credit that's essential to building wealth — buying a home, starting a business, or financing education,\" Trish Wexler, a spokesperson for JPMorgan Chase, told CNN Business.</p><p><blockquote>摩根大通发言人特里什·韦克斯勒(Trish Wexler)告诉CNN Business：“这将使数百万美国人有机会获得信贷，这对于积累财富至关重要——买房、创业或资助教育。”</blockquote></p><p> The backstory: There are currently 53 million people without a credit score, according to the Fair Isaac Corporation, the creator of FICO credit scores. These consumers, who are disproportionately lower income and people of color, face higher borrowing costs because they're forced to turn to products like payday loans.</p><p><blockquote>背景故事：根据FICO信用评分的创建者Fair Isaac Corporation的数据，目前有5300万人没有信用评分。这些消费者是不成比例的低收入和有色人种，他们面临更高的借贷成本，因为他们被迫转向发薪日贷款等产品。</blockquote></p><p> Banks and lenders refer to those without credit history as \"credit invisible.\" This group can include young people or recent immigrants, as well as people who haven't used credit in a long time or who have lost their access due to financial difficulties.</p><p><blockquote>银行和贷方将那些没有信用记录的人称为“隐形信用”。这个群体可以包括年轻人或新移民，以及很长时间没有使用信贷或由于经济困难而失去信贷的人。</blockquote></p><p> The business angle: Big banks may also be eager to revise their policies as online upstarts chip away at demand for their products.</p><p><blockquote>商业角度：随着在线新贵削弱对其产品的需求，大银行也可能渴望修改其政策。</blockquote></p><p></p><p> \"Some of this cooperation among the biggest banks may be a bit of reaction to smaller banks and fintech companies infringing on their space,\" said Matt Schulz, chief industry analyst at LendingTree.</p><p><blockquote>LendingTree首席行业分析师马特·舒尔茨(Matt Schulz)表示：“大型银行之间的一些合作可能是对小型银行和金融科技公司侵犯其空间的反应。”</blockquote></p><p> <b>Target will temporarily stop selling trading cards amid frenzy</b></p><p><blockquote><b>Target将在狂热中暂时停止销售交易卡</b></blockquote></p><p> Target (TGT) has announced that it will stop selling trading cards in its stores following a violent dispute at one of its locations — a sign of just how overheated the market for collectibles has become.</p><p><blockquote>塔吉特(TGT)宣布，在其一个门店发生暴力纠纷后，将停止在其商店销售交易卡，这表明收藏品市场已经变得多么过热。</blockquote></p><p> The details: Last week, a Target in Wisconsin was locked down after a man was physically assaulted by four others over sports trading cards.</p><p><blockquote>细节：上周，威斯康星州的一个目标被锁定，此前一名男子因体育交易卡被另外四人殴打。</blockquote></p><p> \"The safety of our guests and our team is our top priority,\" Target said in a statement. \"Out of an abundance of caution, we've decided to temporarily suspend the sale of MLB, NFL, NBA and Pokémon trading cards within our stores, effective [Friday].\"</p><p><blockquote>塔吉特在一份声明中表示：“客人和团队的安全是我们的首要任务。”“出于谨慎，我们决定从[周五]起暂时停止在我们的商店内销售MLB、NFL、NBA和Pokémon交易卡。”</blockquote></p><p> The cards will still be available online, the company said.</p><p><blockquote>该公司表示，这些卡仍将在网上提供。</blockquote></p><p> Remember: The value of trading cards has skyrocketed in recent months during the Covid-19 pandemic. That's grabbed interest from both amateur and professional investors looking to cash in on spectacular returns.</p><p><blockquote>请记住：近几个月来，在Covid-19大流行期间，交易卡的价值飙升。这引起了业余和专业投资者的兴趣，他们希望获得惊人的回报。</blockquote></p><p> Target previously was limiting card purchases to just one item a day, saying that guests were lining up overnight to get their hands on hot items, per CNN affiliate WISN.</p><p><blockquote>据CNN附属机构WISN报道，塔吉特百货此前限制每天只能购买一件商品，称客人会连夜排队购买热门商品。</blockquote></p><p> Walmart (WMT), for its part, said it will keep selling cards in stores for now.</p><p><blockquote>沃尔玛(WMT)则表示，目前将继续在商店销售贺卡。</blockquote></p><p> \"We are determining what, if any, changes are needed to meet customer demand while ensuring a safe and enjoyable shopping experience,\" a spokesperson said in a statement.</p><p><blockquote>一位发言人在一份声明中表示：“我们正在确定需要做出哪些改变（如果有的话），以满足客户需求，同时确保安全、愉快的购物体验。”</blockquote></p><p> <b>Up next</b></p><p><blockquote><b>下一个</b></blockquote></p><p> Data on US retail sales, import and export prices and industrial production arrives at 8:30 a.m. ET.</p><p><blockquote>美国零售销售、进出口价格和工业生产数据将于美国东部时间上午8:30公布。</blockquote></p><p> Coming next week: Home Depot (HD) and Lowe's (LOW) report earnings as the housing market booms.</p><p><blockquote>下周：随着房地产市场的繁荣，家得宝(HD)和劳氏(LOW)公布收益。</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>What Disney, Airbnb and DoorDash results reveal about the post-pandemic economy<blockquote>迪士尼、爱彼迎和DoorDash的业绩揭示了大流行后经济的哪些信息</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; 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For US customers aged 60 and above, searches on Airbnb for summer travel rose by more than 60% between February and March.</p><p><blockquote>爱彼迎：该公司表示，随着疫苗变得更加广泛，人们对旅行的兴趣再次激增，并指出在英国首相Boris Johnson在2月份宣布逐步解除封锁的计划后，英国的预订量立即急剧增加。对于60岁及以上的美国客户来说，2月至3月期间，爱彼迎上夏季旅行的搜索量增长了60%以上。</blockquote></p><p> The company is also ready for more customers to use Airbnb for longer-term stays as they take advantage of greater acceptance of remote work. It said that nearly a quarter of stays last quarter were for 28 days or more, up 14% from 2019. Shares are down slightly in premarket trading.</p><p><blockquote>该公司还准备让更多客户使用爱彼迎进行长期住宿，因为他们利用了远程工作的更大接受度。该公司表示，上季度近四分之一的停留时间为28天或以上，比2019年增长了14%。股价在盘前交易中小幅下跌。</blockquote></p><p> DoorDash: People are still ordering lots of food delivery even as restaurants open back up for traditional dining. DoorDash reported a 198% jump in revenue last quarter to $1.1 billion even as it dealt with a shortage of workers, and increased its full-year outlook.</p><p><blockquote>DoorDash：即使餐馆重新开放传统餐饮，人们仍然订购大量外卖。DoorDash报告称，尽管面临工人短缺的问题，上季度收入仍增长198%，达到11亿美元，并上调了全年预期。</blockquote></p><p> \"As markets continued reopening and in-store dining increased across the US, the impact to our order volume was smaller than we expected, which contributed to strong performance in the quarter,\" the company said, though it cautioned that may have been partially attributable to stimulus checks. Shares are up almost 9% in premarket trading.</p><p><blockquote>该公司表示：“随着市场继续重新开放以及美国各地店内餐饮的增加，对我们订单量的影响小于我们的预期，这有助于本季度的强劲业绩。”不过该公司警告说，这可能部分归因于刺激检查。股价在盘前交易中上涨近9%。</blockquote></p><p> Disney: Streaming has carried Disney through the pandemic, with Disney+ growing to more than 100 million subscribers. Yet the biggest star in Disney's media universe appears to be shining a little less bright, sending shares down 4%.</p><p><blockquote>迪士尼：流媒体让迪士尼穿越了疫情，Disney+的订户已经超过1亿。然而，迪士尼媒体领域最大的明星似乎不那么耀眼了，导致股价下跌4%。</blockquote></p><p> The company said Thursday that Disney+ now has 103.6 million subscribers, below the 110 million Wall Street was expecting. That's forced investors to wonder: Is that because people are getting vaccinated and stepping away from streaming? Netflix also reported sluggish subscription growth last quarter.</p><p><blockquote>该公司周四表示，Disney+目前拥有1.036亿订阅用户，低于华尔街预期的1.1亿。这迫使投资者想知道：这是因为人们正在接种疫苗并远离流媒体吗？Netflix上季度的订阅增长也缓慢。</blockquote></p><p> Down but not out: Disney said it remains on track to reach its long-term subscriber goals despite the apparent slowdown. It's betting that as the pandemic eases, it will be able to produce more movies and shows, helping to bring in new customers.</p><p><blockquote>下滑但并未出局：迪士尼表示，尽管经济明显放缓，但仍有望实现其长期订户目标。该公司押注，随着疫情的缓解，它将能够制作更多的电影和节目，帮助吸引新客户。</blockquote></p><p> Whether it's right will become clearer in the months ahead, which will pose the true test of whether people actually ditch their sweatpants, get out of the house and shake up the economy once again.</p><p><blockquote>这是否正确将在未来几个月变得更加清晰，这将是人们是否真的抛弃运动裤、走出家门并再次撼动经济的真正考验。</blockquote></p><p> <b>It could get easier to get a credit card without a credit score</b></p><p><blockquote><b>无需信用评分即可获得信用卡可能会变得更容易</b></blockquote></p><p> For years, if you didn't have a credit score it was extremely difficult to get a credit card or certain types of loans. But a new plan among some of the nation's largest banks may help Americans without traditional credit histories get approved.</p><p><blockquote>多年来，如果你没有信用评分，很难获得信用卡或某些类型的贷款。但美国一些最大银行的一项新计划可能会帮助没有传统信用记录的美国人获得批准。</blockquote></p><p> Ten banks — including JPMorgan Chase (JPM), Wells Fargo (WFC) and U.S. Bancorp (USB) — have tentatively agreed to a plan to share data like bank account deposits and bill payment activity to help qualify borrowers without traditional credit histories, according to the Wall Street Journal.</p><p><blockquote>据报道，包括摩根大通(JPM)、富国银行(WFC)和美国合众银行(USB)在内的十家银行已初步同意一项共享银行账户存款和账单支付活动等数据的计划，以帮助没有传统信用记录的借款人获得资格。华尔街日报。</blockquote></p><p> The push for financial institutions to come to a data sharing agreement came from a program run by the Office of the Comptroller of the Currency. The OCC has confirmed there is a plan, but the details of the agreement among the banks still need to be worked out.</p><p><blockquote>金融机构达成数据共享协议的推动力来自货币监理署运行的一项计划。OCC已确认有一项计划，但银行之间协议的细节仍需制定。</blockquote></p><p> Should the proposed arrangement go through, it would mean that if you don't have a credit score but you have a bank account at Wells Fargo, for example, you can use that financial history to help you get a credit card with another bank, like JPMorgan Chase.</p><p><blockquote>如果拟议的安排获得通过，这将意味着，例如，如果您没有信用评分，但在富国银行拥有银行账户，您可以利用该财务历史记录来帮助您在另一家银行获得信用卡，例如摩根大通。</blockquote></p><p> \"This will give millions of Americans the opportunity to access credit that's essential to building wealth — buying a home, starting a business, or financing education,\" Trish Wexler, a spokesperson for JPMorgan Chase, told CNN Business.</p><p><blockquote>摩根大通发言人特里什·韦克斯勒(Trish Wexler)告诉CNN Business：“这将使数百万美国人有机会获得信贷，这对于积累财富至关重要——买房、创业或资助教育。”</blockquote></p><p> The backstory: There are currently 53 million people without a credit score, according to the Fair Isaac Corporation, the creator of FICO credit scores. These consumers, who are disproportionately lower income and people of color, face higher borrowing costs because they're forced to turn to products like payday loans.</p><p><blockquote>背景故事：根据FICO信用评分的创建者Fair Isaac Corporation的数据，目前有5300万人没有信用评分。这些消费者是不成比例的低收入和有色人种，他们面临更高的借贷成本，因为他们被迫转向发薪日贷款等产品。</blockquote></p><p> Banks and lenders refer to those without credit history as \"credit invisible.\" This group can include young people or recent immigrants, as well as people who haven't used credit in a long time or who have lost their access due to financial difficulties.</p><p><blockquote>银行和贷方将那些没有信用记录的人称为“隐形信用”。这个群体可以包括年轻人或新移民，以及很长时间没有使用信贷或由于经济困难而失去信贷的人。</blockquote></p><p> The business angle: Big banks may also be eager to revise their policies as online upstarts chip away at demand for their products.</p><p><blockquote>商业角度：随着在线新贵削弱对其产品的需求，大银行也可能渴望修改其政策。</blockquote></p><p></p><p> \"Some of this cooperation among the biggest banks may be a bit of reaction to smaller banks and fintech companies infringing on their space,\" said Matt Schulz, chief industry analyst at LendingTree.</p><p><blockquote>LendingTree首席行业分析师马特·舒尔茨(Matt Schulz)表示：“大型银行之间的一些合作可能是对小型银行和金融科技公司侵犯其空间的反应。”</blockquote></p><p> <b>Target will temporarily stop selling trading cards amid frenzy</b></p><p><blockquote><b>Target将在狂热中暂时停止销售交易卡</b></blockquote></p><p> Target (TGT) has announced that it will stop selling trading cards in its stores following a violent dispute at one of its locations — a sign of just how overheated the market for collectibles has become.</p><p><blockquote>塔吉特(TGT)宣布，在其一个门店发生暴力纠纷后，将停止在其商店销售交易卡，这表明收藏品市场已经变得多么过热。</blockquote></p><p> The details: Last week, a Target in Wisconsin was locked down after a man was physically assaulted by four others over sports trading cards.</p><p><blockquote>细节：上周，威斯康星州的一个目标被锁定，此前一名男子因体育交易卡被另外四人殴打。</blockquote></p><p> \"The safety of our guests and our team is our top priority,\" Target said in a statement. \"Out of an abundance of caution, we've decided to temporarily suspend the sale of MLB, NFL, NBA and Pokémon trading cards within our stores, effective [Friday].\"</p><p><blockquote>塔吉特在一份声明中表示：“客人和团队的安全是我们的首要任务。”“出于谨慎，我们决定从[周五]起暂时停止在我们的商店内销售MLB、NFL、NBA和Pokémon交易卡。”</blockquote></p><p> The cards will still be available online, the company said.</p><p><blockquote>该公司表示，这些卡仍将在网上提供。</blockquote></p><p> Remember: The value of trading cards has skyrocketed in recent months during the Covid-19 pandemic. That's grabbed interest from both amateur and professional investors looking to cash in on spectacular returns.</p><p><blockquote>请记住：近几个月来，在Covid-19大流行期间，交易卡的价值飙升。这引起了业余和专业投资者的兴趣，他们希望获得惊人的回报。</blockquote></p><p> Target previously was limiting card purchases to just one item a day, saying that guests were lining up overnight to get their hands on hot items, per CNN affiliate WISN.</p><p><blockquote>据CNN附属机构WISN报道，塔吉特百货此前限制每天只能购买一件商品，称客人会连夜排队购买热门商品。</blockquote></p><p> Walmart (WMT), for its part, said it will keep selling cards in stores for now.</p><p><blockquote>沃尔玛(WMT)则表示，目前将继续在商店销售贺卡。</blockquote></p><p> \"We are determining what, if any, changes are needed to meet customer demand while ensuring a safe and enjoyable shopping experience,\" a spokesperson said in a statement.</p><p><blockquote>一位发言人在一份声明中表示：“我们正在确定需要做出哪些改变（如果有的话），以满足客户需求，同时确保安全、愉快的购物体验。”</blockquote></p><p> <b>Up next</b></p><p><blockquote><b>下一个</b></blockquote></p><p> Data on US retail sales, import and export prices and industrial production arrives at 8:30 a.m. ET.</p><p><blockquote>美国零售销售、进出口价格和工业生产数据将于美国东部时间上午8:30公布。</blockquote></p><p> Coming next week: Home Depot (HD) and Lowe's (LOW) report earnings as the housing market booms.</p><p><blockquote>下周：随着房地产市场的繁荣，家得宝(HD)和劳氏(LOW)公布收益。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/05/14/investing/premarket-stocks-trading/index.html\">CNN</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":{"DASH":"DoorDash, Inc.","ABNB":"爱彼迎","DIS":"迪士尼"},"source_url":"https://edition.cnn.com/2021/05/14/investing/premarket-stocks-trading/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173244066","content_text":"London (CNN Business)Companies are gearing up for an era in which Covid-19 isn't the primary driver of how people spend their money.\nThe big question: As the coronavirus situation improves in countries like the United States, which trends from the past 14 months will have staying power, and which will be resigned to the pandemic past?\nAirbnb, DoorDash and Disney (DIS), which reported results after US markets closed on Thursday, provide some idea.\nAirbnb: The company said interest in travel is surging again as vaccines become more widely available, pointing to a sharp increase in bookings in the United Kingdom immediately after British Prime Minister Boris Johnson announced plans in February to gradually exit lockdown. For US customers aged 60 and above, searches on Airbnb for summer travel rose by more than 60% between February and March.\nThe company is also ready for more customers to use Airbnb for longer-term stays as they take advantage of greater acceptance of remote work. It said that nearly a quarter of stays last quarter were for 28 days or more, up 14% from 2019. Shares are down slightly in premarket trading.\nDoorDash: People are still ordering lots of food delivery even as restaurants open back up for traditional dining. DoorDash reported a 198% jump in revenue last quarter to $1.1 billion even as it dealt with a shortage of workers, and increased its full-year outlook.\n\"As markets continued reopening and in-store dining increased across the US, the impact to our order volume was smaller than we expected, which contributed to strong performance in the quarter,\" the company said, though it cautioned that may have been partially attributable to stimulus checks. Shares are up almost 9% in premarket trading.\nDisney: Streaming has carried Disney through the pandemic, with Disney+ growing to more than 100 million subscribers. Yet the biggest star in Disney's media universe appears to be shining a little less bright, sending shares down 4%.\nThe company said Thursday that Disney+ now has 103.6 million subscribers, below the 110 million Wall Street was expecting. That's forced investors to wonder: Is that because people are getting vaccinated and stepping away from streaming? Netflix also reported sluggish subscription growth last quarter.\nDown but not out: Disney said it remains on track to reach its long-term subscriber goals despite the apparent slowdown. It's betting that as the pandemic eases, it will be able to produce more movies and shows, helping to bring in new customers.\nWhether it's right will become clearer in the months ahead, which will pose the true test of whether people actually ditch their sweatpants, get out of the house and shake up the economy once again.\nIt could get easier to get a credit card without a credit score\nFor years, if you didn't have a credit score it was extremely difficult to get a credit card or certain types of loans. But a new plan among some of the nation's largest banks may help Americans without traditional credit histories get approved.\nTen banks — including JPMorgan Chase (JPM), Wells Fargo (WFC) and U.S. Bancorp (USB) — have tentatively agreed to a plan to share data like bank account deposits and bill payment activity to help qualify borrowers without traditional credit histories, according to the Wall Street Journal.\nThe push for financial institutions to come to a data sharing agreement came from a program run by the Office of the Comptroller of the Currency. The OCC has confirmed there is a plan, but the details of the agreement among the banks still need to be worked out.\nShould the proposed arrangement go through, it would mean that if you don't have a credit score but you have a bank account at Wells Fargo, for example, you can use that financial history to help you get a credit card with another bank, like JPMorgan Chase.\n\"This will give millions of Americans the opportunity to access credit that's essential to building wealth — buying a home, starting a business, or financing education,\" Trish Wexler, a spokesperson for JPMorgan Chase, told CNN Business.\nThe backstory: There are currently 53 million people without a credit score, according to the Fair Isaac Corporation, the creator of FICO credit scores. These consumers, who are disproportionately lower income and people of color, face higher borrowing costs because they're forced to turn to products like payday loans.\nBanks and lenders refer to those without credit history as \"credit invisible.\" This group can include young people or recent immigrants, as well as people who haven't used credit in a long time or who have lost their access due to financial difficulties.\nThe business angle: Big banks may also be eager to revise their policies as online upstarts chip away at demand for their products.\n\"Some of this cooperation among the biggest banks may be a bit of reaction to smaller banks and fintech companies infringing on their space,\" said Matt Schulz, chief industry analyst at LendingTree.\nTarget will temporarily stop selling trading cards amid frenzy\nTarget (TGT) has announced that it will stop selling trading cards in its stores following a violent dispute at one of its locations — a sign of just how overheated the market for collectibles has become.\nThe details: Last week, a Target in Wisconsin was locked down after a man was physically assaulted by four others over sports trading cards.\n\"The safety of our guests and our team is our top priority,\" Target said in a statement. \"Out of an abundance of caution, we've decided to temporarily suspend the sale of MLB, NFL, NBA and Pokémon trading cards within our stores, effective [Friday].\"\nThe cards will still be available online, the company said.\nRemember: The value of trading cards has skyrocketed in recent months during the Covid-19 pandemic. That's grabbed interest from both amateur and professional investors looking to cash in on spectacular returns.\nTarget previously was limiting card purchases to just one item a day, saying that guests were lining up overnight to get their hands on hot items, per CNN affiliate WISN.\nWalmart (WMT), for its part, said it will keep selling cards in stores for now.\n\"We are determining what, if any, changes are needed to meet customer demand while ensuring a safe and enjoyable shopping experience,\" a spokesperson said in a statement.\nUp next\nData on US retail sales, import and export prices and industrial production arrives at 8:30 a.m. ET.\nComing next week: Home Depot (HD) and Lowe's (LOW) report earnings as the housing market booms.","news_type":1,"symbols_score_info":{"ABNB":0.9,"DIS":0.9,"DASH":0.9}},"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120129008,"gmtCreate":1624316053404,"gmtModify":1631890378936,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Think the missles already hit the cryto market","listText":"Think the missles already hit the cryto market","text":"Think the missles already hit the cryto market","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/120129008","repostId":"1146982088","repostType":4,"repost":{"id":"1146982088","kind":"news","pubTimestamp":1624259620,"share":"https://www.laohu8.com/m/news/1146982088?lang=zh_CN&edition=full","pubTime":"2021-06-21 15:13","market":"us","language":"en","title":"Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis<blockquote>鲍威尔刚刚发射了2万亿美元的“热寻导弹”：Zoltan解释美联储如何开启下一次回购危机</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1146982088","media":"zerohedge","summary":"Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpect","content":"<p>Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key \"administered\" rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.</p><p><blockquote>上周，在市场对美联储意外鹰派转向的震惊反应中，我们注意到有两个切实但不太引人注目的变化：美联储调整了两个关键的“管理”利率，将IOER和RRP利率都提高了5个基点（正如美国银行、摩根大通、莱特森、德意志银行和富国银行正确预测的那样，而花旗、牛津经济研究院、杰富瑞、瑞士信贷、渣打银行、蒙特利尔银行错误地预测利率不会变化），以推动有效联邦基金利率走高，远离即将到来的0%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/31e3c93e7ae558cd9f2fdb7e4a2769f1\" tg-width=\"500\" tg-height=\"377\">What does this mean? As Curvature Securities repo guru,Scott Skyrm wrote last week, \"clearly the Fed intends to move overnight rates above zero and drain the RRP&nbsp; facility of cash.\" Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.</p><p><blockquote>这是什么意思？正如Curvature Securities回购专家Scott Skyrm上周写道，“显然，美联储打算将隔夜利率提高到零以上，并耗尽RRP工具的现金。”不幸的是，最终结果将与美联储想要达到的目标完全相反。</blockquote></p><p> But what does this really mean for overnight rates and RRP volume? As Skyrm further noted, the increase in the IOER should pull the daily fed funds rate 5 basis points higher and, in turn, put upward pressure on Repo GC. Combined with the 5 basis point increase in RRP, GC should move a solid 5 basis points higher, which it has.</p><p><blockquote>但这对于隔夜利率和建议零售价交易量到底意味着什么？正如Skyrm进一步指出的那样，IOER的上升应该会将每日联邦基金利率拉高5个基点，进而给回购GC带来上行压力。结合RRP增加5个基点，GC应该会大幅上涨5个基点，事实也确实如此。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e8b99df7af1731b4bdcbcf072dcf39ce\" tg-width=\"500\" tg-height=\"272\">The problem, as Skyrm warned, is that the Fed's technical adjustment would do nothing to ease the RRP volume:</p><p><blockquote>正如Skyrm警告的那样，问题在于美联储的技术调整无助于缓解建议零售额：</blockquote></p><p>   When market Repo rates were at 0% and the RRP rate was at zero, ~$500 billion went into the RRP. Well, if both market Repo rates and the RRP rate are 5 basis points higher, there's no reason to pull cash out of the RRP. For example, if GC rates moved to .05% and the RRP rate stayed at zero, investor preferences to invest at a higher rate would remove cash from the RRP.  Bottom line: with both market rates and RRP at .05%, there's really no economic incentive for cash investors to move cash to the Repo market. Or, as we summarized, \"<i>the Fed's rate change may have zero impact on the Fed's reverse repo facility, or the record half a trillion in cash parked there.\"</i></p><p><blockquote>当市场回购利率为0%且RRP利率为零时，约5000亿美元进入RRP。好吧，如果市场回购利率和RRP利率都高出5个基点，就没有理由从RRP中提取现金。例如，如果GC利率升至0.05%，而RRP利率保持在零，投资者以更高利率投资的偏好将从RRP中移除现金。底线：由于市场利率和建议零售价均为0.05%，现金投资者确实没有经济动机将现金转移到回购市场。或者，正如我们总结的那样，“<i>美联储的利率变化可能对美联储的逆回购工具或创纪录的5000亿现金产生零影响。”</i></blockquote></p><p> In retrospect, boy was that an understatement, because just one day later the already record usage of the Fed's Reverse Repo facility spiked by a record 50%, exploding to a staggering $756 billion (it closed Friday at $747 billion) as the GSEs.</p><p><blockquote>回想起来，这是一种轻描淡写的说法，因为仅仅一天后，美联储逆回购工具的使用量就飙升了创纪录的50%，随着GSE的出现，飙升至惊人的7560亿美元（周五收盘价为7470亿美元）。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0fba18d7808300abc3bdf4ffaa3d5fb6\" tg-width=\"500\" tg-height=\"273\">Needless to say, flooding the Fed's RRP facility and sterilizing reserves is hardly what the Fed had intended, and as Credit Suisse's own repo guru (and former NY Fed staffer) Zoltan Pozsar wrote in his post-mortem, \"<b>the re-priced RRP facility will become a problem for the banking system fast:</b><b><u>the banking system is going from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market</u></b><b>).\"</b></p><p><blockquote>不用说，淹没美联储的建议零售价工具和冲销准备金几乎不是美联储的本意，正如瑞士信贷自己的回购专家（前纽约联储工作人员）Zoltan Pozsar在他的事后分析中所写的那样，“<b>重新定价的建议零售价融资将很快成为银行系统的一个问题：</b><b><u>银行体系正在从资产约束（存款大量涌入，但除了美联储之外无处可贷）转变为负债约束（存款不断流失，除了货币市场之外无处可替代）</u></b><b>).\"</b></blockquote></p><p> What he means by that is that whereas previously the RRP rate of 0.00% did not<i>reward</i>allocation of inert, excess reserves but merely provided a place to park them, now that the Fed is providing a generous yield pick up compared to rates offered by trillions in Bills, we are about to see a sea-change in the overnight, money-market, as trillions in capital reallocate away from traditional investments and into the the Fed's RRP.</p><p><blockquote>他的意思是，以前0.00%的RRP利率没有<i>奖励</i>分配惰性的超额准备金，但只是提供了一个存放它们的地方，现在美联储提供的收益率与数万亿票据提供的利率相比大幅上升，我们即将看到隔夜货币市场发生翻天覆地的变化，数万亿资本从传统投资重新分配到美联储的建议零售价。</blockquote></p><p> In other words, as Pozsar puts it, \"the RRP facility started to sterilize reserves... with more to come.\" And just as Deutsche Bank explained why the Fed's signaling was an r* policy error, to Pozsar, the Fed<i><b>also</b></i>made a policy error - only this time with its technical rates - by steriling reserves because \"it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it “unduly” high – as one money fund manager put it, “<b>yesterday we could not even get a basis points a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.\"</b></p><p><blockquote>换句话说，正如Pozsar所说，“RRP设施开始对储备进行消毒……还会有更多储备。”而就在德意志银行向Pozsar解释为什么美联储的信号是一个r*政策错误时，美联储<i><b>也</b></i>犯了一个政策错误——只是这次是技术利率——冲销准备金，因为“当严格来说没有必要提高RRP设施的利率时，提高RRP设施的利率是一回事，而将其提高到‘过高’是另一回事——正如一位货币基金经理所说，”<b>昨天，我们一年甚至拿不到一个基点；以五个基点从最值得信赖的交易对手那里获得无尽的票据是梦想成真。”</b></blockquote></p><p> He's right: while 0bps may have been viewed by many as too low, it was hardly catastrophic for now (Credit Suisse was one of those predicting no administered rate hike),<b>5bps is too generous</b>, according to Pozsar who warns that the new reverse repo rate<b>will upset the state of \"singularity\"</b>and \"like heat-seeking missiles, money market investors move hundreds of billions, making sharp, 90º turns hunting for even a basis point of yield at the zero bound –<b>at 5 bps, money funds have an incentive to trade out of all their Treasury bills and park cash at the RRP facility.\"</b></p><p><blockquote>他是对的：虽然许多人可能认为0个基点太低，但目前这很难说是灾难性的（瑞士信贷是预测不会有管理加息的机构之一），<b>5bps太慷慨了</b>Pozsar警告说，新的逆回购利率<b>将颠覆“奇点”状态</b>“就像热寻的导弹一样，货币市场投资者转移了数千亿美元，急转弯90度，在零边界寻找哪怕一个基点的收益率——<b>在5个基点的利率下，货币基金有动力出售所有国库券并将现金存放在RRP设施中。”</b></blockquote></p><p></p><p> Indeed, as shown below, bills yield less than 5 bps out to 6 months,<b>and money funds have over $2 trillion of bills.</b>They got an the incentive to sell, while others have the incentive to buy: institutions whose deposits have been “tolerated” by banks until now earning zero interest have an incentive to harvest the 0-5 bps range the bill curve has to offer. Putting your cash at a basis point in bills is better than deposits at zero.<b>So the sterilization of reserves begins, and so the o/n RRP facility turns from a largely passive tool that provided an interest rate floor to the deposits that large banks have been pushing away, into an active tool that \"sucks\" the deposits away that banks decided to retain.</b></p><p><blockquote>事实上，如下图所示，6个月的票据收益率不到5个基点，<b>货币基金拥有超过2万亿美元的票据。</b>他们有卖出的动机，而其他人有买入的动机：那些存款一直被银行“容忍”到目前为止赚取零利息的机构有动力获得票据曲线提供的0-5个基点的范围。将现金以一个基点存入票据比零存款要好。<b>因此，准备金冲销开始了，因此o/n RRP工具从一个为大型银行一直在推走的存款提供利率下限的基本上被动的工具，变成了一个“吸走”银行决定保留的存款的主动工具。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/bf593f7b1d2d665f39384ed6a998d3bf\" tg-width=\"500\" tg-height=\"403\">To help readers visualize what is going on, the Credit Suisse strategist suggest the following \"extreme\" thought experiment: most of the “Covid-19” deposits currently with banks go into the bill market where rates are better. Money funds sell bills to institutional investors that currently keep their cash at banks, and money funds swap bills for o/n RRPs. Said (somewhat) simply, while previously the Fed provided banks with a convenient place to park reserves, it now will actively drain reserves to the point where we may end up with another 2019-style repo crisis, as most financial institutions suddenly find themsleves with<i><b>too few</b></i>intraday reserves, forcing them to use the Fed's other funding facilities (such as FX swap lines) to remain consistently solvent.</p><p><blockquote>为了帮助读者直观地了解正在发生的事情，瑞士信贷策略师建议进行以下“极端”的思想实验：目前银行的大部分“Covid-19”存款都进入了利率更好的票据市场。货币基金向目前将现金存放在银行的机构投资者出售票据，货币基金将票据交换为o/N RRP。（有点）简单地说，虽然美联储以前为银行提供了一个方便的存放准备金的地方，但现在它将积极耗尽准备金，以至于我们可能最终会陷入另一场2019年式的回购危机，因为大多数金融机构突然发现自己与<i><b>太少</b></i>日内储备，迫使它们使用美联储的其他融资工具（如外汇掉期额度）来保持持续的偿付能力。</blockquote></p><p> This process is not overnight. It will take a few weeks to observe the fallout from the Fed's reserve sterilization.</p><p><blockquote>这个过程不是一蹴而就的。需要几周时间才能观察到美联储准备金冲销的影响。</blockquote></p><p> And here is why the problem is similar to the repo crisis of 2019: soon we will find that while cash-rich banks can handle the outflows,<b>some bond-heavy banks cannot.</b>As a result, Zoltan predicts that next \"we will notice that some banks (those who can<i><b>not</b></i>handle outflows) are borrowing advances from FHLBs, and cash-rich banks stop lending in the FX swap market as the RRP facility pulled reserves away from them and the Fed has to re-start the FX swap lines to offset.\"</p><p><blockquote>这就是为什么这个问题与2019年的回购危机类似：很快我们就会发现，虽然现金充裕的银行可以应对资金外流，<b>一些债券密集型银行则不能。</b>因此，Zoltan预测，接下来“我们将注意到一些银行（那些能够<i><b>不</b></i>处理资金外流）正在从FHLB借入预付款，现金充裕的银行停止在外汇掉期市场放贷，因为RRP工具从它们那里抽走了准备金，美联储不得不重新启动外汇掉期额度来抵消。”</blockquote></p><p> Bottom line:<i><b>whereas previously we saw Libor-OIS collapse, this key funding spread will have to widen from here, unless the Fed lowers the o/n RRP rate again back to where it was before.</b></i></p><p><blockquote>底线：<i><b>尽管之前我们看到Libor-OIS崩溃，但这一关键资金利差将不得不从这里扩大，除非美联储再次将o/n RRP利率降低到以前的水平。</b></i></blockquote></p><p> Or, as Zoltan summarizes, \"It’s either quantities or prices\" - indeed,<b>in 2019 the Fed chose prices over quantities, which backfired, and led to the repo crisis which ended the Fed's hiking cycle and started \"NOT QE.\"</b>While the Fed redeemed itself in February, when it expanded the usage of the RRP without making it liability-constrained as it chose quantities over prices - which worked well - last Wednesday,<b>the Fed turned “unlimited” quantities into “money for free” and started to sterilize reserves.</b></p><p><blockquote>或者，正如Zoltan总结的那样，“要么是数量，要么是价格”——事实上，<b>2019年，美联储选择了价格而不是数量，这适得其反，并导致了回购危机，结束了美联储的加息周期，并开始了“非量化宽松”。</b>虽然美联储在2月份进行了自我救赎，但上周三，它在没有使其负债受到限制的情况下扩大了建议零售价的使用范围，因为它选择了数量而不是价格——这一点效果很好——<b>美联储将“无限”的数量变成了“免费的钱”，并开始冲销储备。</b></blockquote></p><p> Bottom line: \"we are witnessing the dealer of last resort (DoLR) learning the art of dealing, making unforced errors – if the Fed sterilizes with an overpriced o/n RRP facility, it has to be ready to add liquidity via the swap lines…\"</p><p><blockquote>底线：“我们正在目睹最后手段交易商（DoLR）学习交易艺术，犯非受迫性错误——如果美联储通过定价过高的o/n RRP工具进行冲销，它必须准备好通过掉期增加流动性线……”</blockquote></p><p> Translation:&nbsp;<b>by paying trillions in reserves 5bps, the Fed just planted the seeds of the next liquidity crisis.</b></p><p><blockquote>翻译：<b>通过支付数万亿美元的准备金5个基点，美联储刚刚播下了下一场流动性危机的种子。</b></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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}\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\">\nPowell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis<blockquote>鲍威尔刚刚发射了2万亿美元的“热寻导弹”：Zoltan解释美联储如何开启下一次回购危机</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-06-21 15:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key \"administered\" rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.</p><p><blockquote>上周，在市场对美联储意外鹰派转向的震惊反应中，我们注意到有两个切实但不太引人注目的变化：美联储调整了两个关键的“管理”利率，将IOER和RRP利率都提高了5个基点（正如美国银行、摩根大通、莱特森、德意志银行和富国银行正确预测的那样，而花旗、牛津经济研究院、杰富瑞、瑞士信贷、渣打银行、蒙特利尔银行错误地预测利率不会变化），以推动有效联邦基金利率走高，远离即将到来的0%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/31e3c93e7ae558cd9f2fdb7e4a2769f1\" tg-width=\"500\" tg-height=\"377\">What does this mean? As Curvature Securities repo guru,Scott Skyrm wrote last week, \"clearly the Fed intends to move overnight rates above zero and drain the RRP&nbsp; facility of cash.\" Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.</p><p><blockquote>这是什么意思？正如Curvature Securities回购专家Scott Skyrm上周写道，“显然，美联储打算将隔夜利率提高到零以上，并耗尽RRP工具的现金。”不幸的是，最终结果将与美联储想要达到的目标完全相反。</blockquote></p><p> But what does this really mean for overnight rates and RRP volume? As Skyrm further noted, the increase in the IOER should pull the daily fed funds rate 5 basis points higher and, in turn, put upward pressure on Repo GC. Combined with the 5 basis point increase in RRP, GC should move a solid 5 basis points higher, which it has.</p><p><blockquote>但这对于隔夜利率和建议零售价交易量到底意味着什么？正如Skyrm进一步指出的那样，IOER的上升应该会将每日联邦基金利率拉高5个基点，进而给回购GC带来上行压力。结合RRP增加5个基点，GC应该会大幅上涨5个基点，事实也确实如此。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e8b99df7af1731b4bdcbcf072dcf39ce\" tg-width=\"500\" tg-height=\"272\">The problem, as Skyrm warned, is that the Fed's technical adjustment would do nothing to ease the RRP volume:</p><p><blockquote>正如Skyrm警告的那样，问题在于美联储的技术调整无助于缓解建议零售额：</blockquote></p><p>   When market Repo rates were at 0% and the RRP rate was at zero, ~$500 billion went into the RRP. Well, if both market Repo rates and the RRP rate are 5 basis points higher, there's no reason to pull cash out of the RRP. For example, if GC rates moved to .05% and the RRP rate stayed at zero, investor preferences to invest at a higher rate would remove cash from the RRP.  Bottom line: with both market rates and RRP at .05%, there's really no economic incentive for cash investors to move cash to the Repo market. Or, as we summarized, \"<i>the Fed's rate change may have zero impact on the Fed's reverse repo facility, or the record half a trillion in cash parked there.\"</i></p><p><blockquote>当市场回购利率为0%且RRP利率为零时，约5000亿美元进入RRP。好吧，如果市场回购利率和RRP利率都高出5个基点，就没有理由从RRP中提取现金。例如，如果GC利率升至0.05%，而RRP利率保持在零，投资者以更高利率投资的偏好将从RRP中移除现金。底线：由于市场利率和建议零售价均为0.05%，现金投资者确实没有经济动机将现金转移到回购市场。或者，正如我们总结的那样，“<i>美联储的利率变化可能对美联储的逆回购工具或创纪录的5000亿现金产生零影响。”</i></blockquote></p><p> In retrospect, boy was that an understatement, because just one day later the already record usage of the Fed's Reverse Repo facility spiked by a record 50%, exploding to a staggering $756 billion (it closed Friday at $747 billion) as the GSEs.</p><p><blockquote>回想起来，这是一种轻描淡写的说法，因为仅仅一天后，美联储逆回购工具的使用量就飙升了创纪录的50%，随着GSE的出现，飙升至惊人的7560亿美元（周五收盘价为7470亿美元）。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0fba18d7808300abc3bdf4ffaa3d5fb6\" tg-width=\"500\" tg-height=\"273\">Needless to say, flooding the Fed's RRP facility and sterilizing reserves is hardly what the Fed had intended, and as Credit Suisse's own repo guru (and former NY Fed staffer) Zoltan Pozsar wrote in his post-mortem, \"<b>the re-priced RRP facility will become a problem for the banking system fast:</b><b><u>the banking system is going from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market</u></b><b>).\"</b></p><p><blockquote>不用说，淹没美联储的建议零售价工具和冲销准备金几乎不是美联储的本意，正如瑞士信贷自己的回购专家（前纽约联储工作人员）Zoltan Pozsar在他的事后分析中所写的那样，“<b>重新定价的建议零售价融资将很快成为银行系统的一个问题：</b><b><u>银行体系正在从资产约束（存款大量涌入，但除了美联储之外无处可贷）转变为负债约束（存款不断流失，除了货币市场之外无处可替代）</u></b><b>).\"</b></blockquote></p><p> What he means by that is that whereas previously the RRP rate of 0.00% did not<i>reward</i>allocation of inert, excess reserves but merely provided a place to park them, now that the Fed is providing a generous yield pick up compared to rates offered by trillions in Bills, we are about to see a sea-change in the overnight, money-market, as trillions in capital reallocate away from traditional investments and into the the Fed's RRP.</p><p><blockquote>他的意思是，以前0.00%的RRP利率没有<i>奖励</i>分配惰性的超额准备金，但只是提供了一个存放它们的地方，现在美联储提供的收益率与数万亿票据提供的利率相比大幅上升，我们即将看到隔夜货币市场发生翻天覆地的变化，数万亿资本从传统投资重新分配到美联储的建议零售价。</blockquote></p><p> In other words, as Pozsar puts it, \"the RRP facility started to sterilize reserves... with more to come.\" And just as Deutsche Bank explained why the Fed's signaling was an r* policy error, to Pozsar, the Fed<i><b>also</b></i>made a policy error - only this time with its technical rates - by steriling reserves because \"it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it “unduly” high – as one money fund manager put it, “<b>yesterday we could not even get a basis points a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.\"</b></p><p><blockquote>换句话说，正如Pozsar所说，“RRP设施开始对储备进行消毒……还会有更多储备。”而就在德意志银行向Pozsar解释为什么美联储的信号是一个r*政策错误时，美联储<i><b>也</b></i>犯了一个政策错误——只是这次是技术利率——冲销准备金，因为“当严格来说没有必要提高RRP设施的利率时，提高RRP设施的利率是一回事，而将其提高到‘过高’是另一回事——正如一位货币基金经理所说，”<b>昨天，我们一年甚至拿不到一个基点；以五个基点从最值得信赖的交易对手那里获得无尽的票据是梦想成真。”</b></blockquote></p><p> He's right: while 0bps may have been viewed by many as too low, it was hardly catastrophic for now (Credit Suisse was one of those predicting no administered rate hike),<b>5bps is too generous</b>, according to Pozsar who warns that the new reverse repo rate<b>will upset the state of \"singularity\"</b>and \"like heat-seeking missiles, money market investors move hundreds of billions, making sharp, 90º turns hunting for even a basis point of yield at the zero bound –<b>at 5 bps, money funds have an incentive to trade out of all their Treasury bills and park cash at the RRP facility.\"</b></p><p><blockquote>他是对的：虽然许多人可能认为0个基点太低，但目前这很难说是灾难性的（瑞士信贷是预测不会有管理加息的机构之一），<b>5bps太慷慨了</b>Pozsar警告说，新的逆回购利率<b>将颠覆“奇点”状态</b>“就像热寻的导弹一样，货币市场投资者转移了数千亿美元，急转弯90度，在零边界寻找哪怕一个基点的收益率——<b>在5个基点的利率下，货币基金有动力出售所有国库券并将现金存放在RRP设施中。”</b></blockquote></p><p></p><p> Indeed, as shown below, bills yield less than 5 bps out to 6 months,<b>and money funds have over $2 trillion of bills.</b>They got an the incentive to sell, while others have the incentive to buy: institutions whose deposits have been “tolerated” by banks until now earning zero interest have an incentive to harvest the 0-5 bps range the bill curve has to offer. Putting your cash at a basis point in bills is better than deposits at zero.<b>So the sterilization of reserves begins, and so the o/n RRP facility turns from a largely passive tool that provided an interest rate floor to the deposits that large banks have been pushing away, into an active tool that \"sucks\" the deposits away that banks decided to retain.</b></p><p><blockquote>事实上，如下图所示，6个月的票据收益率不到5个基点，<b>货币基金拥有超过2万亿美元的票据。</b>他们有卖出的动机，而其他人有买入的动机：那些存款一直被银行“容忍”到目前为止赚取零利息的机构有动力获得票据曲线提供的0-5个基点的范围。将现金以一个基点存入票据比零存款要好。<b>因此，准备金冲销开始了，因此o/n RRP工具从一个为大型银行一直在推走的存款提供利率下限的基本上被动的工具，变成了一个“吸走”银行决定保留的存款的主动工具。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/bf593f7b1d2d665f39384ed6a998d3bf\" tg-width=\"500\" tg-height=\"403\">To help readers visualize what is going on, the Credit Suisse strategist suggest the following \"extreme\" thought experiment: most of the “Covid-19” deposits currently with banks go into the bill market where rates are better. Money funds sell bills to institutional investors that currently keep their cash at banks, and money funds swap bills for o/n RRPs. Said (somewhat) simply, while previously the Fed provided banks with a convenient place to park reserves, it now will actively drain reserves to the point where we may end up with another 2019-style repo crisis, as most financial institutions suddenly find themsleves with<i><b>too few</b></i>intraday reserves, forcing them to use the Fed's other funding facilities (such as FX swap lines) to remain consistently solvent.</p><p><blockquote>为了帮助读者直观地了解正在发生的事情，瑞士信贷策略师建议进行以下“极端”的思想实验：目前银行的大部分“Covid-19”存款都进入了利率更好的票据市场。货币基金向目前将现金存放在银行的机构投资者出售票据，货币基金将票据交换为o/N RRP。（有点）简单地说，虽然美联储以前为银行提供了一个方便的存放准备金的地方，但现在它将积极耗尽准备金，以至于我们可能最终会陷入另一场2019年式的回购危机，因为大多数金融机构突然发现自己与<i><b>太少</b></i>日内储备，迫使它们使用美联储的其他融资工具（如外汇掉期额度）来保持持续的偿付能力。</blockquote></p><p> This process is not overnight. It will take a few weeks to observe the fallout from the Fed's reserve sterilization.</p><p><blockquote>这个过程不是一蹴而就的。需要几周时间才能观察到美联储准备金冲销的影响。</blockquote></p><p> And here is why the problem is similar to the repo crisis of 2019: soon we will find that while cash-rich banks can handle the outflows,<b>some bond-heavy banks cannot.</b>As a result, Zoltan predicts that next \"we will notice that some banks (those who can<i><b>not</b></i>handle outflows) are borrowing advances from FHLBs, and cash-rich banks stop lending in the FX swap market as the RRP facility pulled reserves away from them and the Fed has to re-start the FX swap lines to offset.\"</p><p><blockquote>这就是为什么这个问题与2019年的回购危机类似：很快我们就会发现，虽然现金充裕的银行可以应对资金外流，<b>一些债券密集型银行则不能。</b>因此，Zoltan预测，接下来“我们将注意到一些银行（那些能够<i><b>不</b></i>处理资金外流）正在从FHLB借入预付款，现金充裕的银行停止在外汇掉期市场放贷，因为RRP工具从它们那里抽走了准备金，美联储不得不重新启动外汇掉期额度来抵消。”</blockquote></p><p> Bottom line:<i><b>whereas previously we saw Libor-OIS collapse, this key funding spread will have to widen from here, unless the Fed lowers the o/n RRP rate again back to where it was before.</b></i></p><p><blockquote>底线：<i><b>尽管之前我们看到Libor-OIS崩溃，但这一关键资金利差将不得不从这里扩大，除非美联储再次将o/n RRP利率降低到以前的水平。</b></i></blockquote></p><p> Or, as Zoltan summarizes, \"It’s either quantities or prices\" - indeed,<b>in 2019 the Fed chose prices over quantities, which backfired, and led to the repo crisis which ended the Fed's hiking cycle and started \"NOT QE.\"</b>While the Fed redeemed itself in February, when it expanded the usage of the RRP without making it liability-constrained as it chose quantities over prices - which worked well - last Wednesday,<b>the Fed turned “unlimited” quantities into “money for free” and started to sterilize reserves.</b></p><p><blockquote>或者，正如Zoltan总结的那样，“要么是数量，要么是价格”——事实上，<b>2019年，美联储选择了价格而不是数量，这适得其反，并导致了回购危机，结束了美联储的加息周期，并开始了“非量化宽松”。</b>虽然美联储在2月份进行了自我救赎，但上周三，它在没有使其负债受到限制的情况下扩大了建议零售价的使用范围，因为它选择了数量而不是价格——这一点效果很好——<b>美联储将“无限”的数量变成了“免费的钱”，并开始冲销储备。</b></blockquote></p><p> Bottom line: \"we are witnessing the dealer of last resort (DoLR) learning the art of dealing, making unforced errors – if the Fed sterilizes with an overpriced o/n RRP facility, it has to be ready to add liquidity via the swap lines…\"</p><p><blockquote>底线：“我们正在目睹最后手段交易商（DoLR）学习交易艺术，犯非受迫性错误——如果美联储通过定价过高的o/n RRP工具进行冲销，它必须准备好通过掉期增加流动性线……”</blockquote></p><p> Translation:&nbsp;<b>by paying trillions in reserves 5bps, the Fed just planted the seeds of the next liquidity crisis.</b></p><p><blockquote>翻译：<b>通过支付数万亿美元的准备金5个基点，美联储刚刚播下了下一场流动性危机的种子。</b></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next\">zerohedge</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":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146982088","content_text":"Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key \"administered\" rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.\nWhat does this mean? As Curvature Securities repo guru,Scott Skyrm wrote last week, \"clearly the Fed intends to move overnight rates above zero and drain the RRP  facility of cash.\" Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.\nBut what does this really mean for overnight rates and RRP volume? As Skyrm further noted, the increase in the IOER should pull the daily fed funds rate 5 basis points higher and, in turn, put upward pressure on Repo GC. Combined with the 5 basis point increase in RRP, GC should move a solid 5 basis points higher, which it has.\nThe problem, as Skyrm warned, is that the Fed's technical adjustment would do nothing to ease the RRP volume:\n\n When market Repo rates were at 0% and the RRP rate was at zero, ~$500 billion went into the RRP. Well, if both market Repo rates and the RRP rate are 5 basis points higher, there's no reason to pull cash out of the RRP. For example, if GC rates moved to .05% and the RRP rate stayed at zero, investor preferences to invest at a higher rate would remove cash from the RRP.\n\nBottom line: with both market rates and RRP at .05%, there's really no economic incentive for cash investors to move cash to the Repo market. Or, as we summarized, \"the Fed's rate change may have zero impact on the Fed's reverse repo facility, or the record half a trillion in cash parked there.\"\nIn retrospect, boy was that an understatement, because just one day later the already record usage of the Fed's Reverse Repo facility spiked by a record 50%, exploding to a staggering $756 billion (it closed Friday at $747 billion) as the GSEs.\nNeedless to say, flooding the Fed's RRP facility and sterilizing reserves is hardly what the Fed had intended, and as Credit Suisse's own repo guru (and former NY Fed staffer) Zoltan Pozsar wrote in his post-mortem, \"the re-priced RRP facility will become a problem for the banking system fast:the banking system is going from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market).\"\nWhat he means by that is that whereas previously the RRP rate of 0.00% did notrewardallocation of inert, excess reserves but merely provided a place to park them, now that the Fed is providing a generous yield pick up compared to rates offered by trillions in Bills, we are about to see a sea-change in the overnight, money-market, as trillions in capital reallocate away from traditional investments and into the the Fed's RRP.\nIn other words, as Pozsar puts it, \"the RRP facility started to sterilize reserves... with more to come.\" And just as Deutsche Bank explained why the Fed's signaling was an r* policy error, to Pozsar, the Fedalsomade a policy error - only this time with its technical rates - by steriling reserves because \"it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it “unduly” high – as one money fund manager put it, “yesterday we could not even get a basis points a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.\"\nHe's right: while 0bps may have been viewed by many as too low, it was hardly catastrophic for now (Credit Suisse was one of those predicting no administered rate hike),5bps is too generous, according to Pozsar who warns that the new reverse repo ratewill upset the state of \"singularity\"and \"like heat-seeking missiles, money market investors move hundreds of billions, making sharp, 90º turns hunting for even a basis point of yield at the zero bound –at 5 bps, money funds have an incentive to trade out of all their Treasury bills and park cash at the RRP facility.\"\nIndeed, as shown below, bills yield less than 5 bps out to 6 months,and money funds have over $2 trillion of bills.They got an the incentive to sell, while others have the incentive to buy: institutions whose deposits have been “tolerated” by banks until now earning zero interest have an incentive to harvest the 0-5 bps range the bill curve has to offer. Putting your cash at a basis point in bills is better than deposits at zero.So the sterilization of reserves begins, and so the o/n RRP facility turns from a largely passive tool that provided an interest rate floor to the deposits that large banks have been pushing away, into an active tool that \"sucks\" the deposits away that banks decided to retain.\nTo help readers visualize what is going on, the Credit Suisse strategist suggest the following \"extreme\" thought experiment: most of the “Covid-19” deposits currently with banks go into the bill market where rates are better. Money funds sell bills to institutional investors that currently keep their cash at banks, and money funds swap bills for o/n RRPs. Said (somewhat) simply, while previously the Fed provided banks with a convenient place to park reserves, it now will actively drain reserves to the point where we may end up with another 2019-style repo crisis, as most financial institutions suddenly find themsleves withtoo fewintraday reserves, forcing them to use the Fed's other funding facilities (such as FX swap lines) to remain consistently solvent.\nThis process is not overnight. It will take a few weeks to observe the fallout from the Fed's reserve sterilization.\nAnd here is why the problem is similar to the repo crisis of 2019: soon we will find that while cash-rich banks can handle the outflows,some bond-heavy banks cannot.As a result, Zoltan predicts that next \"we will notice that some banks (those who cannothandle outflows) are borrowing advances from FHLBs, and cash-rich banks stop lending in the FX swap market as the RRP facility pulled reserves away from them and the Fed has to re-start the FX swap lines to offset.\"\nBottom line:whereas previously we saw Libor-OIS collapse, this key funding spread will have to widen from here, unless the Fed lowers the o/n RRP rate again back to where it was before.\nOr, as Zoltan summarizes, \"It’s either quantities or prices\" - indeed,in 2019 the Fed chose prices over quantities, which backfired, and led to the repo crisis which ended the Fed's hiking cycle and started \"NOT QE.\"While the Fed redeemed itself in February, when it expanded the usage of the RRP without making it liability-constrained as it chose quantities over prices - which worked well - last Wednesday,the Fed turned “unlimited” quantities into “money for free” and started to sterilize reserves.\nBottom line: \"we are witnessing the dealer of last resort (DoLR) learning the art of dealing, making unforced errors – if the Fed sterilizes with an overpriced o/n RRP facility, it has to be ready to add liquidity via the swap lines…\"\nTranslation: by paying trillions in reserves 5bps, the Fed just planted the seeds of the next liquidity crisis.","news_type":1,"symbols_score_info":{"SPY":0.9,".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":3106,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":133704692,"gmtCreate":1621807514516,"gmtModify":1634186550816,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Hmmm","listText":"Hmmm","text":"Hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/133704692","repostId":"1111747453","repostType":4,"repost":{"id":"1111747453","kind":"news","pubTimestamp":1621609858,"share":"https://www.laohu8.com/m/news/1111747453?lang=zh_CN&edition=full","pubTime":"2021-05-21 23:10","market":"us","language":"en","title":"Tesla’s New Plaid Model Is Ready. That Should Help the Stock.<blockquote>特斯拉的新格子模型准备好了。这应该会对股票有所帮助。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111747453","media":"Barrons","summary":"Tesla’s updated Model S sedan is ready.CEO Elon Musk tweeted out Thursday that his company will host a delivery event for the Plaid model of its Model S electric car on June 3. That is a milestone investors who are bullish on Tesla stock have been waiting for, but it isn’t the most important one.Tesla stock rose 4.1% amid a broad market rally Thursday, but the gain still left shares down for the week. Tesla stock was up another 0.8% in Friday trading, a touch better than the 0.7% gain in the Dow","content":"<p>Tesla’s updated Model S sedan is ready.</p><p><blockquote>特斯拉更新的Model S轿车已准备就绪。</blockquote></p><p> CEO Elon Musk tweeted out Thursday that his company will host a delivery event for the Plaid model of its Model S electric car on June 3. That is a milestone investors who are bullish on Tesla stock have been waiting for, but it isn’t the most important one.</p><p><blockquote>首席执行官埃隆·马斯克(Elon Musk)周四在推特上表示，他的公司将于6月3日举办Model S电动汽车格子模型的交付活动。这是看好特斯拉股票的投资者一直在等待的一个里程碑，但这并不是最重要的一个。</blockquote></p><p> Beginning deliveries should help the stock—-a little.</p><p><blockquote>开始交付应该会对库存有所帮助。</blockquote></p><p> Tesla(ticker: TSLA) stock rose 4.1% amid a broad market rally Thursday, but the gain still left shares down for the week. Tesla stock was up another 0.8% in Friday trading, a touch better than the 0.7% gain in the&nbsp;Dow Jones Industrial Average.The&nbsp;S&amp;P 500&nbsp;was up 0.5%.</p><p><blockquote>特斯拉（股票代码：TSLA）股价周四在大盘上涨中上涨4.1%，但这一涨幅仍导致股价本周下跌。特斯拉股价在周五交易中又上涨了0.8%，略好于道琼斯工业平均指数0.7%的涨幅。标准普尔500指数上涨0.5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b73c480440da121bd6da538ca389d0ef\" tg-width=\"834\" tg-height=\"414\"></p><p><blockquote></blockquote></p><p> The Plaid is billed by Tesla as the fastest production car ever, going zero to 60 in under 2 seconds. A&nbsp;Bugatti Chiron, which costs about $2.3 million and is equipped with a 16-cylinder, four-turbocharger engine, can go zero to 60 in about 2.3 seconds.</p><p><blockquote>Plaid被特斯拉宣传为有史以来最快的量产车，从零加速到60英里只需不到2秒。布加迪Chiron售价约230万美元，配备16缸四涡轮增压发动机，可在约2.3秒内从零加速到60英里。</blockquote></p><p> Electric motors have better torque at zero revolutions a minute, giving drivers an incredible jolt from their initial acceleration.</p><p><blockquote>电动机在每分钟零转时具有更好的扭矩，让驾驶员在初始加速时感到难以置信的震动。</blockquote></p><p> The&nbsp;Plaid edition&nbsp;of the Model S won’t cost anywhere near as much as a Chiron, but it will still run buyers $120,000 or more. Prices like that mean the car won’t sell in the high volumes seen from the Tesla Model 3 or Model Y. Those cars can be had for what a nicely equipped sedan from&nbsp;BMW&nbsp;(BMW.Germany) or evenToyota Motor&nbsp;(TM) or&nbsp;Honda&nbsp;(HMC) can cost.</p><p><blockquote>格子版Model S的价格远不及Chiron，但买家仍需花费12万美元或更多。这样的价格意味着该车的销量不会像特斯拉Model 3或Model Y那样高。这些汽车的价格相当于宝马（BMW.Germany）或丰田汽车（TM）或本田（HMC）装备精良的轿车的价格。</blockquote></p><p> Still, the launch highlights Tesla’s ability to update its designs. The first Model S went into production almost a decade ago. Its performance shows Tesla is improving on its technologies for battery management and electric motors.</p><p><blockquote>尽管如此，此次发布凸显了特斯拉更新设计的能力。第一辆Model S大约十年前投入生产。其表现表明特斯拉正在改进其电池管理和电动机技术。</blockquote></p><p> All that is important for perceptions about Tesla, but there are bigger things on investors’ minds. Tesla is building new capacity in Austin, Texas, andBerlin. Investors want to see both plants on line by the end of the year, giving Tesla the output capacity needed to increase sales.</p><p><blockquote>所有这些对于人们对特斯拉的看法都很重要，但投资者还有更重要的事情要考虑。特斯拉正在奥斯丁、德克萨斯和柏林建设新产能。投资者希望看到这两家工厂在今年年底前上线，为特斯拉提供增加销售额所需的产能。</blockquote></p><p> Investors also want updates about the company’s autonomous driving programs. Musk has boasted the company is close to&nbsp;achieving fully autonomous cars&nbsp;with newer versions of its self-driving software. The new versions probably won’t mean drivers can actually leave the driver seat, but better driver-assistance functions are a competitive advantage for auto makers.</p><p><blockquote>投资者还希望了解该公司自动驾驶项目的最新情况。马斯克夸口说，该公司即将通过更新版本的自动驾驶软件实现全自动驾驶汽车。新版本可能并不意味着驾驶员实际上可以离开驾驶座，但更好的驾驶辅助功能是汽车制造商的竞争优势。</blockquote></p><p> The next version of the Tesla software is due to roll out in coming weeks.</p><p><blockquote>特斯拉软件的下一个版本将在未来几周内推出。</blockquote></p><p> Capacity and autonomous driving have the potential to lift the stock in coming years. The Model S Plaid can help it in coming quarters.</p><p><blockquote>产能和自动驾驶有可能在未来几年提振该股。Model S Plaid可以在未来几个季度为其提供帮助。</blockquote></p><p> Tesla stock is in need of a lift. Shares are down about 35% from their 52-week high of more than $900, reached in January.</p><p><blockquote>特斯拉股票需要提振。股价较1月份触及的超过900美元的52周高点下跌了约35%。</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>Tesla’s New Plaid Model Is Ready. That Should Help the Stock.<blockquote>特斯拉的新格子模型准备好了。这应该会对股票有所帮助。</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\">\nTesla’s New Plaid Model Is Ready. That Should Help the Stock.<blockquote>特斯拉的新格子模型准备好了。这应该会对股票有所帮助。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-05-21 23:10</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tesla’s updated Model S sedan is ready.</p><p><blockquote>特斯拉更新的Model S轿车已准备就绪。</blockquote></p><p> CEO Elon Musk tweeted out Thursday that his company will host a delivery event for the Plaid model of its Model S electric car on June 3. That is a milestone investors who are bullish on Tesla stock have been waiting for, but it isn’t the most important one.</p><p><blockquote>首席执行官埃隆·马斯克(Elon Musk)周四在推特上表示，他的公司将于6月3日举办Model S电动汽车格子模型的交付活动。这是看好特斯拉股票的投资者一直在等待的一个里程碑，但这并不是最重要的一个。</blockquote></p><p> Beginning deliveries should help the stock—-a little.</p><p><blockquote>开始交付应该会对库存有所帮助。</blockquote></p><p> Tesla(ticker: TSLA) stock rose 4.1% amid a broad market rally Thursday, but the gain still left shares down for the week. Tesla stock was up another 0.8% in Friday trading, a touch better than the 0.7% gain in the&nbsp;Dow Jones Industrial Average.The&nbsp;S&amp;P 500&nbsp;was up 0.5%.</p><p><blockquote>特斯拉（股票代码：TSLA）股价周四在大盘上涨中上涨4.1%，但这一涨幅仍导致股价本周下跌。特斯拉股价在周五交易中又上涨了0.8%，略好于道琼斯工业平均指数0.7%的涨幅。标准普尔500指数上涨0.5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/b73c480440da121bd6da538ca389d0ef\" tg-width=\"834\" tg-height=\"414\"></p><p><blockquote></blockquote></p><p> The Plaid is billed by Tesla as the fastest production car ever, going zero to 60 in under 2 seconds. A&nbsp;Bugatti Chiron, which costs about $2.3 million and is equipped with a 16-cylinder, four-turbocharger engine, can go zero to 60 in about 2.3 seconds.</p><p><blockquote>Plaid被特斯拉宣传为有史以来最快的量产车，从零加速到60英里只需不到2秒。布加迪Chiron售价约230万美元，配备16缸四涡轮增压发动机，可在约2.3秒内从零加速到60英里。</blockquote></p><p> Electric motors have better torque at zero revolutions a minute, giving drivers an incredible jolt from their initial acceleration.</p><p><blockquote>电动机在每分钟零转时具有更好的扭矩，让驾驶员在初始加速时感到难以置信的震动。</blockquote></p><p> The&nbsp;Plaid edition&nbsp;of the Model S won’t cost anywhere near as much as a Chiron, but it will still run buyers $120,000 or more. Prices like that mean the car won’t sell in the high volumes seen from the Tesla Model 3 or Model Y. Those cars can be had for what a nicely equipped sedan from&nbsp;BMW&nbsp;(BMW.Germany) or evenToyota Motor&nbsp;(TM) or&nbsp;Honda&nbsp;(HMC) can cost.</p><p><blockquote>格子版Model S的价格远不及Chiron，但买家仍需花费12万美元或更多。这样的价格意味着该车的销量不会像特斯拉Model 3或Model Y那样高。这些汽车的价格相当于宝马（BMW.Germany）或丰田汽车（TM）或本田（HMC）装备精良的轿车的价格。</blockquote></p><p> Still, the launch highlights Tesla’s ability to update its designs. The first Model S went into production almost a decade ago. Its performance shows Tesla is improving on its technologies for battery management and electric motors.</p><p><blockquote>尽管如此，此次发布凸显了特斯拉更新设计的能力。第一辆Model S大约十年前投入生产。其表现表明特斯拉正在改进其电池管理和电动机技术。</blockquote></p><p> All that is important for perceptions about Tesla, but there are bigger things on investors’ minds. Tesla is building new capacity in Austin, Texas, andBerlin. Investors want to see both plants on line by the end of the year, giving Tesla the output capacity needed to increase sales.</p><p><blockquote>所有这些对于人们对特斯拉的看法都很重要，但投资者还有更重要的事情要考虑。特斯拉正在奥斯丁、德克萨斯和柏林建设新产能。投资者希望看到这两家工厂在今年年底前上线，为特斯拉提供增加销售额所需的产能。</blockquote></p><p> Investors also want updates about the company’s autonomous driving programs. Musk has boasted the company is close to&nbsp;achieving fully autonomous cars&nbsp;with newer versions of its self-driving software. The new versions probably won’t mean drivers can actually leave the driver seat, but better driver-assistance functions are a competitive advantage for auto makers.</p><p><blockquote>投资者还希望了解该公司自动驾驶项目的最新情况。马斯克夸口说，该公司即将通过更新版本的自动驾驶软件实现全自动驾驶汽车。新版本可能并不意味着驾驶员实际上可以离开驾驶座，但更好的驾驶辅助功能是汽车制造商的竞争优势。</blockquote></p><p> The next version of the Tesla software is due to roll out in coming weeks.</p><p><blockquote>特斯拉软件的下一个版本将在未来几周内推出。</blockquote></p><p> Capacity and autonomous driving have the potential to lift the stock in coming years. The Model S Plaid can help it in coming quarters.</p><p><blockquote>产能和自动驾驶有可能在未来几年提振该股。Model S Plaid可以在未来几个季度为其提供帮助。</blockquote></p><p> Tesla stock is in need of a lift. Shares are down about 35% from their 52-week high of more than $900, reached in January.</p><p><blockquote>特斯拉股票需要提振。股价较1月份触及的超过900美元的52周高点下跌了约35%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-model-s-new-plaid-model-ready-51621608150?mod=hp_LATEST\">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":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-model-s-new-plaid-model-ready-51621608150?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111747453","content_text":"Tesla’s updated Model S sedan is ready.\nCEO Elon Musk tweeted out Thursday that his company will host a delivery event for the Plaid model of its Model S electric car on June 3. That is a milestone investors who are bullish on Tesla stock have been waiting for, but it isn’t the most important one.\nBeginning deliveries should help the stock—-a little.\nTesla(ticker: TSLA) stock rose 4.1% amid a broad market rally Thursday, but the gain still left shares down for the week. Tesla stock was up another 0.8% in Friday trading, a touch better than the 0.7% gain in the Dow Jones Industrial Average.The S&P 500 was up 0.5%.\n\nThe Plaid is billed by Tesla as the fastest production car ever, going zero to 60 in under 2 seconds. A Bugatti Chiron, which costs about $2.3 million and is equipped with a 16-cylinder, four-turbocharger engine, can go zero to 60 in about 2.3 seconds.\nElectric motors have better torque at zero revolutions a minute, giving drivers an incredible jolt from their initial acceleration.\nThe Plaid edition of the Model S won’t cost anywhere near as much as a Chiron, but it will still run buyers $120,000 or more. Prices like that mean the car won’t sell in the high volumes seen from the Tesla Model 3 or Model Y. Those cars can be had for what a nicely equipped sedan from BMW (BMW.Germany) or evenToyota Motor (TM) or Honda (HMC) can cost.\nStill, the launch highlights Tesla’s ability to update its designs. The first Model S went into production almost a decade ago. Its performance shows Tesla is improving on its technologies for battery management and electric motors.\nAll that is important for perceptions about Tesla, but there are bigger things on investors’ minds. Tesla is building new capacity in Austin, Texas, andBerlin. Investors want to see both plants on line by the end of the year, giving Tesla the output capacity needed to increase sales.\nInvestors also want updates about the company’s autonomous driving programs. Musk has boasted the company is close to achieving fully autonomous cars with newer versions of its self-driving software. The new versions probably won’t mean drivers can actually leave the driver seat, but better driver-assistance functions are a competitive advantage for auto makers.\nThe next version of the Tesla software is due to roll out in coming weeks.\nCapacity and autonomous driving have the potential to lift the stock in coming years. The Model S Plaid can help it in coming quarters.\nTesla stock is in need of a lift. Shares are down about 35% from their 52-week high of more than $900, reached in January.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":199829930,"gmtCreate":1620695649620,"gmtModify":1634197049430,"author":{"id":"3580330681390064","authorId":"3580330681390064","name":"Topwong","avatar":"https://static.tigerbbs.com/5f391750e9e61481646f8b96856d14d2","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580330681390064","idStr":"3580330681390064"},"themes":[],"htmlText":"Great!! Send nio to find chang er!!&nbsp;","listText":"Great!! Send nio to find chang er!!&nbsp;","text":"Great!! Send nio to find chang er!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/199829930","repostId":"2134651681","repostType":4,"isVote":1,"tweetType":1,"viewCount":398,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}