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2021-06-14

It is a good read

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2021-06-13

Can buy ?

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2021-06-09

With inflation, interest rate looks set to rise

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2021-06-09

China made goods will get more expensive?

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2021-06-08

Correction in the horizon?

Have Stocks Already Priced In The "Economic Boom"?<blockquote>股票已经在“经济繁荣”中定价了吗？</blockquote>

2021-06-07

Corn and corn oil price will move up?

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2021-06-06

Ok

U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote>

2021-06-04

That is Good

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2021-06-04

Wow

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2021-05-30

Umm...such news affect investors' confidence.

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2021-05-30

Good to know

Credit Suisse Cuts Ties With SoftBank After Greensill Crisis<blockquote>格林希尔危机后瑞士信贷切断与软银的联系</blockquote>

2021-05-29

I hope travelling in the old way will come back after Codvic even if that will take a few years.

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2021-05-28

All seems positive

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2021-05-28

Market seems toppish...

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2021-05-25

Stocks seem to move higher and higher

2021-05-24

Can buy?

The Cryptocurrency Plunge Continues, What's Ahead?<blockquote>加密货币暴跌仍在继续，接下来会发生什么？</blockquote>

2021-05-24

Which platform allows us to buy Jap stock?

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2021-05-23

[强]

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2021-05-22

Maybe further correction?

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2021-05-20

Really can buy?

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expensive?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/180728537","repostId":"1142545635","repostType":4,"isVote":1,"tweetType":1,"viewCount":994,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117995993,"gmtCreate":1623112624212,"gmtModify":1634036867836,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"Correction in the horizon?","listText":"Correction in the horizon?","text":"Correction in the horizon?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/117995993","repostId":"1134242022","repostType":4,"repost":{"id":"1134242022","kind":"news","pubTimestamp":1623086430,"share":"https://www.laohu8.com/m/news/1134242022?lang=zh_CN&edition=full","pubTime":"2021-06-08 01:20","market":"us","language":"en","title":"Have Stocks Already Priced In The \"Economic Boom\"?<blockquote>股票已经在“经济繁荣”中定价了吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1134242022","media":"zerohedge","summary":"The media is buzzing with claims of an “Economic Boom” in 2021. 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Instead of fizzling, it could potentially remain stronger than it was during the pre-pandemic era into 2023.</b></i>  <i>Economists now expect the second quarter to grow at a pace of 10%, and they expect growth for 2021 to be north of 6.5%.</i>  <i><b>In the past decade, only a few quarters gross domestic product growing at even 3%.”</b></i>  The premise is that strong<i>&nbsp;“pent up”</i>&nbsp;demand will sustain the economic recovery over the next few years.</p><p><blockquote><i><b>“经济已经进入高速增长时期。到2023年，它非但不会失败，反而可能保持比大流行前时期更强劲的势头。</b></i><i>经济学家现在预计第二季度将以10%的速度增长，他们预计2021年的增长率将超过6.5%。</i><i><b>在过去的十年里，只有几个季度的国内生产总值增长了3%。”</b></i>前提是强<i>“被压抑了”</i>需求将在未来几年维持经济复苏。</blockquote></p><p> However, since market lows in 2020, the market surge has not only recouped all of those losses but has rocketed to all-time highs on expectations of surging earnings growth.</p><p><blockquote>然而，自2020年市场低点以来，市场飙升不仅弥补了所有这些损失，而且由于盈利增长飙升的预期，市场飙升至历史高点。</blockquote></p><p> The question: How much has gotten priced in?</p><p><blockquote>问题是：定价了多少？</blockquote></p><p> <b>A Return To Normalcy</b></p><p><blockquote><b>恢复正常</b></blockquote></p><p> Just recently, Liz Ann Sonders wrote a piece for&nbsp;Advisor Perspectives.&nbsp;To wit:</p><p><blockquote>就在最近，Liz Ann Sonders为Advisor Perspectives写了一篇文章。也就是说：</blockquote></p><p>   <i>“Vaccines and herd immunity continue to bring COVID cases down, and</i>  <i><b>&nbsp;the economic reopening continues to kick into a higher gear. Such is whatthe data is starting to show.</b></i>  <i>&nbsp;Across economic metrics, from the gross domestic product (GDP) to retail sales and job growth,</i>  <i><b>boom conditions are evident</b></i>  <i>.”</i>  She is correct in her statement.<b>&nbsp;However, there is a difference between an</b><b><i>“economic boom”</i></b><b>&nbsp;and a</b><b><i>“recovery.”</i></b>&nbsp;As shown in the chart of GDP growth below, the U.S. has already experienced a very sharp<i>&nbsp;“economic recovery”</i>&nbsp;from the recessionary lows.&nbsp;<i>(I have included estimates for the rest of 2020, which shows a return to trend growth.)</i></p><p><blockquote><i>“疫苗和群体免疫继续减少新冠病例，并且</i><i><b>经济重新开放继续加速。这就是数据开始显示的情况。</b></i><i>从国内生产总值（GDP）到零售额和就业增长，</i><i><b>景气状况明显</b></i><i>.”</i>她的陈述是正确的。<b>但是，</b><b><i>“经济繁荣”</i></b><b>和一个</b><b><i>“恢复。”</i></b>正如下面的GDP增长图表所示，美国已经经历了非常急剧的<i>“经济复苏”</i>从衰退的低点。<i>（我纳入了对2020年剩余时间的估计，这表明将恢复趋势增长。）</i></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5fdad10528414b4274fcd428501380f7\" tg-width=\"500\" tg-height=\"280\"></p><p><blockquote></blockquote></p><p> The following chart shows the economic recovery against the massive dumps of liquidity pumped into the economy.&nbsp;<i>(Estimates run through the end of 2021 using economist’s assumptions.)</i></p><p><blockquote>下图显示了在大量流动性注入经济的情况下，经济复苏的情况。<i>（使用《经济学人》的假设进行的估计持续到2021年底。）</i></blockquote></p><p> <img src=\"https://static.tigerbbs.com/dba515f0c9d2b1e6b69cd03edccc9bec\" tg-width=\"500\" tg-height=\"280\"></p><p><blockquote></blockquote></p><p> <b>Can’t Recoup Losses</b></p><p><blockquote><b>无法挽回损失</b></blockquote></p><p> <b>Certain areas of the economy, like airlines, hotels, and cruise ships, have yet to recover to pre-pandemic levels.</b>However, those industries only make up a relatively small amount of overall economic activity. Furthermore, these industries will continue to struggle for some time as individuals will not take&nbsp;<i>“two vacations”</i>&nbsp;this year since they missed last year.&nbsp;<b>That activity is now forever lost.</b></p><p><blockquote><b>某些经济领域，如航空公司、酒店和游轮，尚未恢复到大流行前的水平。</b>然而，这些行业在整体经济活动中只占相对较小的一部分。此外，这些行业将继续挣扎一段时间，因为个人不会采取<i>“两个假期”</i>自从他们去年错过了。<b>这项活动现在已经永远消失了。</b></blockquote></p><p> Yes, the economy will recover most likely to pre-pandemic levels this year due to stimulus injections,<b><i>&nbsp;but as discussed previously</i></b>, what then?</p><p><blockquote>是的，由于刺激注入，今年经济最有可能恢复到大流行前的水平，<b><i>但如前所述</i></b>，然后呢？</blockquote></p><p>   <i>“The biggest problem with more stimulus is the increase in the debt required to fund it.</i>  <i><b>&nbsp;There is no historical precedent, anywhere globally, that shows increased debt levels lead to more robust economic growth rates or prosperity.</b></i>  <i>&nbsp;Since 1980, the overall increase in debt has surged to levels that currently usurp the entirety of economic growth.</i>  <i><b>With economic growth rates now at the lowest levels on record, the change in debt continues to divert more tax dollars away from productive investments into the service of debt and social welfare.”</b></i>  <img src=\"https://static.tigerbbs.com/b2a13ef8b21cb5f0f15b7d3bc37642a0\" tg-width=\"500\" tg-height=\"279\"></p><p><blockquote><i>“更多刺激措施的最大问题是为其提供资金所需的债务增加。</i><i><b>全球任何地方都没有历史先例表明债务水平的增加会导致更强劲的经济增长率或繁荣。</b></i><i>自1980年以来，债务的总体增长已飙升至目前取代全部经济增长的水平。</i><i><b>由于经济增长率目前处于有记录以来的最低水平，债务的变化继续将更多的税收从生产性投资转移到偿还债务和社会福利上。”</b></i></blockquote></p><p> Just as it is with investing, getting&nbsp;<i>“back to even”</i>&nbsp;is not the same thing as&nbsp;<i>“organic growth.”</i></p><p><blockquote>就像投资一样，获得<i>“回到偶数”</i>不是一回事<i>“有机增长。”</i></blockquote></p><p> <b>The Second Derivative</b></p><p><blockquote><b>二阶导数</b></blockquote></p><p> What is shown above is the&nbsp;<b><i>“second derivative”</i></b>&nbsp;effect of growth.</p><p><blockquote>上面显示的是<b><i>二阶导数</i></b>增长的影响。</blockquote></p><p>   <i>“In&nbsp;calculus, the</i>  <i><b>second derivative</b></i>  <i>, or the</i>  <i><b>second-order derivative</b></i>  <i>, of a&nbsp;function&nbsp;f&nbsp;is the&nbsp;derivative&nbsp;of the derivative of&nbsp;f.” – Wikipedia.</i>  In English, the<i>&nbsp;“second derivative”</i>&nbsp;measures how the rate of change of a quantity is itself changing. Since we measure GDP growth on an annual rate of change basis, the larger the economy grows, the lower the rate of change will be. Here is a simplistic example go GDP growth:</p><p><blockquote><i>“在微积分中，</i><i><b>二阶导数</b></i><i>，或</i><i><b>二阶导数</b></i><i>函数f的导数是f的导数。”-维基百科。</i>在英语中，<i>二阶导数</i>测量一个量本身的变化率如何变化。由于我们以年变化率衡量GDP增长，经济增长越大，变化率就越低。这里有一个简单的GDP增长例子：</blockquote></p><p>   <i>In year 1,&nbsp;GDP = $1. In the second year, GDP grows to $2. The annual rate of change is 100%. However, in year 3, even though the economy grows to $3, the annual rate of change falls to just 50%.</i>  Given the long-term historical correlation between economic growth, corporate earnings, and annualized returns, the reversion to trend growth has implications for investors. As Liz notes:</p><p><blockquote><i>第一年，国内生产总值=1美元。第二年，GDP增长到2美元。年变化率为100%。然而，在第三年，即使经济增长到3美元，年变化率也下降到只有50%。</i>鉴于经济增长、企业盈利和年化回报之间的长期历史相关性，趋势增长的回归对投资者具有影响。正如Liz指出的：</blockquote></p><p></p><p>   <i>“Using three broad ranges for GDP growth historically, the lowest range (when the economy is barely growing or in recession) is accompanied by the highest annualized stock market performance.</i>  <i><b>GDP is only slightly back into positive territory on an annualized basis. However, the strong growth expected in the second quarter will push GDP into the highest zone. At that level, stocks have historically posted a negative annualized return.”</b></i>  <img src=\"https://static.tigerbbs.com/fefede26dacdf96c2afd65040c979eb5\" tg-width=\"500\" tg-height=\"289\"></p><p><blockquote><i>“从历史上看，GDP增长使用三个广泛的范围，最低范围（当经济几乎没有增长或陷入衰退时）伴随着最高的年化股市表现。</i><i><b>按年计算，GDP仅略微回到正值区域。然而，预计第二季度的强劲增长将推动GDP进入最高区域。在这个水平上，股票的年化回报率历来为负。”</b></i></blockquote></p><p> The reason is that once economic growth reaches higher levels, stocks have climbed to levels incorporating those expectations. In other words, when things are as&nbsp;<i>“good as they can get,”</i>&nbsp;stocks begin to reprice for slower future growth rates.</p><p><blockquote>原因是，一旦经济增长达到更高水平，股市就会攀升至包含这些预期的水平。换句话说，当事物如<i>“他们能得到的最好的。”</i>股票开始为未来增长率放缓重新定价。</blockquote></p><p> That is the phase we are at currently.</p><p><blockquote>这就是我们目前所处的阶段。</blockquote></p><p> <b>How Much Pent Up Demand Is There Anyway</b></p><p><blockquote><b>到底有多少被压抑的需求</b></blockquote></p><p> The main driver of the expected recovery from a&nbsp;<i>“recessionary”</i>&nbsp;low stems from the question of how much&nbsp;<i>“pent up”</i>&nbsp;demand currently exists?</p><p><blockquote>预期复苏的主要驱动因素<i>“衰退”</i>低源于多少的问题<i>“被压抑了”</i>需求目前存在吗？</blockquote></p><p> If we look at durable goods as an example, such would suggest that much of the demand for long-lasting products got pulled forward by consumers over the last 12-months.</p><p><blockquote>如果我们以耐用品为例，这表明在过去12个月里，消费者对耐用品的大部分需求都被拉动了。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a089734aaefc5afe0333a7ee63606fbe\" tg-width=\"500\" tg-height=\"184\"></p><p><blockquote></blockquote></p><p> Of course,&nbsp;<b>if we broaden that measure to retails sales which make up ~40% of the personal consumption expenditures (PCE) index</b>, we see much the same.</p><p><blockquote>当然，<b>如果我们把衡量标准扩大到占个人消费支出（PCE）指数40%左右零售销售</b>，我们看到的差不多。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e92c968f205973f191c55c538d189e2e\" tg-width=\"500\" tg-height=\"185\"></p><p><blockquote></blockquote></p><p> Given PCE,&nbsp;<b>which comprises nearly 70% of GDP,</b>&nbsp;has already recovered much of pandemic-related decline, how much&nbsp;<i>“pent up”</i>&nbsp;demand remains.</p><p><blockquote>给定PCE，<b>占国内生产总值近70%，</b>已经恢复了与大流行相关的大部分下降，有多少<i>“被压抑了”</i>需求依然存在。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4f718e21229399dc7e5997f4375c2541\" tg-width=\"500\" tg-height=\"185\"></p><p><blockquote></blockquote></p><p> However, wage growth outside of personal transfer payments&nbsp;<i>(i.e., stimulus)</i>&nbsp;hasn’t recovered. It is impossible to sustain higher rates of economic growth without wage growth.</p><p><blockquote>然而，个人转移支付之外的工资增长<i>（即刺激）</i>还没恢复。没有工资增长，就不可能维持更高的经济增长率。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7caa93f603a20c9413aaf28b0ccbf2b5\" tg-width=\"500\" tg-height=\"368\"></p><p><blockquote></blockquote></p><p> <b>Importantly, as we saw in January and February following the $900 billion stimulus bill passage, there was a short-lived surge of activity. However, once individuals spent the money, activity quickly faded.</b>&nbsp;We saw the same with retail sales in April following the American Rescue Plan, which sent out $1400 checks.</p><p><blockquote><b>重要的是，正如我们在9000亿美元刺激法案通过后的1月和2月所看到的那样，活动出现了短暂的激增。然而，一旦个人花了钱，活动很快就消失了。</b>在美国救援计划发出1400美元支票后，我们在4月份的零售销售中看到了同样的情况。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c31449e02d4ba266c905203a16de1ad5\" tg-width=\"500\" tg-height=\"312\"></p><p><blockquote></blockquote></p><p> After the $1400 checks get spent, what will be the driver for continued consumption at previous rates? Further, given the impact of a larger economy (as it recovers), the rate of change will decline markedly in the months to come.</p><p><blockquote>1400美元支票花完后，以以前的价格继续消费的驱动力是什么？此外，鉴于更大经济体的影响（随着其复苏），变化率将在未来几个月显著下降。</blockquote></p><p> <b>Earnings Growth Inflection</b></p><p><blockquote><b>盈利增长拐点</b></blockquote></p><p>   <i>“Earnings growth has a high correlation to stock market performance, but with time lags that are less well-understood. We are about halfway through the first quarter S&amp;P 500 earnings season and so far, the results are exceptionally strong.” – Liz Ann Sonders</i>  That is correct, and given the high correlation between earnings and market returns, we come back to the same question. Has the advance in the market accounted for the rebound in earnings? More importantly, what happens when that growth reverses?</p><p><blockquote><i>“盈利增长与股市表现有很高的相关性，但其时滞不太为人所知。标普500第一季度财报季已过半，到目前为止，业绩异常强劲。”——莉兹·安·桑德斯</i>这是正确的，鉴于收益和市场回报之间的高度相关性，我们回到同一个问题。市场的上涨是否解释了盈利的反弹？更重要的是，当这种增长逆转时会发生什么？</blockquote></p><p>   <i>“Relative to last year’s second-quarter plunge of nearly -31% year-over-year, expectations are that S&amp;P 500 earnings will be up more than 46% in this year’s first quarter. The second quarter will boast a whopping 60% increase. Such should be the inflection point in terms of the year-over-year growth rate.” – Liz Ann Sonders</i>  <img src=\"https://static.tigerbbs.com/90ee4fca36856fe8fa3e5938aa46c656\" tg-width=\"500\" tg-height=\"141\"></p><p><blockquote><i>“相对于去年第二季度同比暴跌近-31%，预计标普500今年第一季度盈利将增长46%以上。第二季度将增长60%。这应该是同比增长率的拐点。”——莉兹·安·桑德斯</i></blockquote></p><p> The problem is the S&amp;P rose to levels that earnings growth will have difficulty supporting, particularly as the stimulus fades from the system. As with economic growth, the 2nd derivative of earnings growth is now a headwind for the markets.</p><p><blockquote>问题是，标准普尔指数升至盈利增长难以支撑的水平，特别是在刺激措施从系统中消退的情况下。与经济增长一样，盈利增长的二阶导数现在对市场来说是一个阻力。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/98ea62bdd7be88d7a4a281250f2b9f54\" tg-width=\"500\" tg-height=\"272\"></p><p><blockquote></blockquote></p><p> Such is also the problem of&nbsp;<i><b>“pulling forward sales.”</b></i></p><p><blockquote>这也是<i><b>“拉动销售。”</b></i></blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> Notably, the outsized growth of the market reflects repetitive interventions into the financial markets by the Fed. Those interventions detached financial asset growth from their long-term correlation to GDP growth, where corporate revenue comes from. Historically, when the<i><b>&nbsp;S&amp;P 500 becomes separated from economic growth,</b></i>&nbsp;a reversion occurred.</p><p><blockquote>值得注意的是，市场的大幅增长反映了美联储对金融市场的反复干预。这些干预措施将金融资产增长与其与GDP增长的长期相关性分开，而GDP增长是企业收入的来源。从历史上看，当<i><b>标普500指数与经济增长脱钩，</b></i>发生了逆转。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/517d8bbd7819339ad187c2d899d0e321\" tg-width=\"500\" tg-height=\"270\"></p><p><blockquote></blockquote></p><p></p><p> Currently, analysts are expecting earnings to surge well above economic growth rates. However, the flaw in the analysis is the assumption earnings growth will continue its current trend.</p><p><blockquote>目前，分析师预计盈利飙升将远高于经济增长率。然而，该分析的缺陷在于假设盈利增长将延续目前的趋势。</blockquote></p><p> <b>While there will be an economic recovery to pre-pandemic levels, a recovery is very different from an expansion.</b></p><p><blockquote><b>虽然经济将恢复到大流行前的水平，但复苏与扩张有很大不同。</b></blockquote></p><p> As Liz concludes:</p><p><blockquote>正如Liz总结的那样：</blockquote></p><p>   <i><b>“Optimism is extremely elevated.</b></i>  <i>Such is certainly justified by stock market behavior over the past year and recent economic releases.</i>  <i><b>But some curbing of enthusiasm may be warranted given the history of the stock market as an uncanny ‘sniffer-outer’ of economic inflection points.”</b></i>  <b>As she goes on to point out, this is not a time for FOMO-driven investment decision-making.</b>&nbsp;The reality is that the supports that drove the economic recovery will not support an ongoing economic expansion. One is self-sustaining organic growth from productive activity, and the other is not.</p><p><blockquote><i><b>“乐观情绪非常高涨。</b></i><i>过去一年的股市行为和最近的经济数据无疑证明了这一点。</i><i><b>但考虑到股市作为经济拐点的不可思议的‘嗅探者’的历史，可能有必要对热情进行一些抑制。”</b></i><b>正如她继续指出的那样，现在不是FOMO驱动的投资决策的时候。</b>现实情况是，推动经济复苏的支持不会支持持续的经济扩张。一种是来自生产活动的自我维持的有机增长，另一种不是。</blockquote></p><p> The risk of disappointment is high. And so are the costs of being<i>&nbsp;“wilfully blind”</i>&nbsp;to the dangers.</p><p><blockquote>失望的风险很高。存在的成本也是如此<i>“故意视而不见”</i>面对危险。</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>Have Stocks Already Priced In The \"Economic Boom\"?<blockquote>股票已经在“经济繁荣”中定价了吗？</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\">\nHave Stocks Already Priced In The \"Economic Boom\"?<blockquote>股票已经在“经济繁荣”中定价了吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-06-08 01:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The media is buzzing with claims of an&nbsp;<i>“Economic Boom”</i>&nbsp;in 2021. While the economy will most certainly grow in 2021, the question is how much is already&nbsp;<i>“baked in?”</i></p><p><blockquote>媒体上充斥着关于<i>“经济繁荣”</i>2021年。虽然2021年经济肯定会增长，但问题是已经增长了多少<i>“烤好了？”</i></blockquote></p><p>   <i><b>“The economy has entered a period of supercharged growth. Instead of fizzling, it could potentially remain stronger than it was during the pre-pandemic era into 2023.</b></i>  <i>Economists now expect the second quarter to grow at a pace of 10%, and they expect growth for 2021 to be north of 6.5%.</i>  <i><b>In the past decade, only a few quarters gross domestic product growing at even 3%.”</b></i>  The premise is that strong<i>&nbsp;“pent up”</i>&nbsp;demand will sustain the economic recovery over the next few years.</p><p><blockquote><i><b>“经济已经进入高速增长时期。到2023年，它非但不会失败，反而可能保持比大流行前时期更强劲的势头。</b></i><i>经济学家现在预计第二季度将以10%的速度增长，他们预计2021年的增长率将超过6.5%。</i><i><b>在过去的十年里，只有几个季度的国内生产总值增长了3%。”</b></i>前提是强<i>“被压抑了”</i>需求将在未来几年维持经济复苏。</blockquote></p><p> However, since market lows in 2020, the market surge has not only recouped all of those losses but has rocketed to all-time highs on expectations of surging earnings growth.</p><p><blockquote>然而，自2020年市场低点以来，市场飙升不仅弥补了所有这些损失，而且由于盈利增长飙升的预期，市场飙升至历史高点。</blockquote></p><p> The question: How much has gotten priced in?</p><p><blockquote>问题是：定价了多少？</blockquote></p><p> <b>A Return To Normalcy</b></p><p><blockquote><b>恢复正常</b></blockquote></p><p> Just recently, Liz Ann Sonders wrote a piece for&nbsp;Advisor Perspectives.&nbsp;To wit:</p><p><blockquote>就在最近，Liz Ann Sonders为Advisor Perspectives写了一篇文章。也就是说：</blockquote></p><p>   <i>“Vaccines and herd immunity continue to bring COVID cases down, and</i>  <i><b>&nbsp;the economic reopening continues to kick into a higher gear. Such is whatthe data is starting to show.</b></i>  <i>&nbsp;Across economic metrics, from the gross domestic product (GDP) to retail sales and job growth,</i>  <i><b>boom conditions are evident</b></i>  <i>.”</i>  She is correct in her statement.<b>&nbsp;However, there is a difference between an</b><b><i>“economic boom”</i></b><b>&nbsp;and a</b><b><i>“recovery.”</i></b>&nbsp;As shown in the chart of GDP growth below, the U.S. has already experienced a very sharp<i>&nbsp;“economic recovery”</i>&nbsp;from the recessionary lows.&nbsp;<i>(I have included estimates for the rest of 2020, which shows a return to trend growth.)</i></p><p><blockquote><i>“疫苗和群体免疫继续减少新冠病例，并且</i><i><b>经济重新开放继续加速。这就是数据开始显示的情况。</b></i><i>从国内生产总值（GDP）到零售额和就业增长，</i><i><b>景气状况明显</b></i><i>.”</i>她的陈述是正确的。<b>但是，</b><b><i>“经济繁荣”</i></b><b>和一个</b><b><i>“恢复。”</i></b>正如下面的GDP增长图表所示，美国已经经历了非常急剧的<i>“经济复苏”</i>从衰退的低点。<i>（我纳入了对2020年剩余时间的估计，这表明将恢复趋势增长。）</i></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5fdad10528414b4274fcd428501380f7\" tg-width=\"500\" tg-height=\"280\"></p><p><blockquote></blockquote></p><p> The following chart shows the economic recovery against the massive dumps of liquidity pumped into the economy.&nbsp;<i>(Estimates run through the end of 2021 using economist’s assumptions.)</i></p><p><blockquote>下图显示了在大量流动性注入经济的情况下，经济复苏的情况。<i>（使用《经济学人》的假设进行的估计持续到2021年底。）</i></blockquote></p><p> <img src=\"https://static.tigerbbs.com/dba515f0c9d2b1e6b69cd03edccc9bec\" tg-width=\"500\" tg-height=\"280\"></p><p><blockquote></blockquote></p><p> <b>Can’t Recoup Losses</b></p><p><blockquote><b>无法挽回损失</b></blockquote></p><p> <b>Certain areas of the economy, like airlines, hotels, and cruise ships, have yet to recover to pre-pandemic levels.</b>However, those industries only make up a relatively small amount of overall economic activity. Furthermore, these industries will continue to struggle for some time as individuals will not take&nbsp;<i>“two vacations”</i>&nbsp;this year since they missed last year.&nbsp;<b>That activity is now forever lost.</b></p><p><blockquote><b>某些经济领域，如航空公司、酒店和游轮，尚未恢复到大流行前的水平。</b>然而，这些行业在整体经济活动中只占相对较小的一部分。此外，这些行业将继续挣扎一段时间，因为个人不会采取<i>“两个假期”</i>自从他们去年错过了。<b>这项活动现在已经永远消失了。</b></blockquote></p><p> Yes, the economy will recover most likely to pre-pandemic levels this year due to stimulus injections,<b><i>&nbsp;but as discussed previously</i></b>, what then?</p><p><blockquote>是的，由于刺激注入，今年经济最有可能恢复到大流行前的水平，<b><i>但如前所述</i></b>，然后呢？</blockquote></p><p>   <i>“The biggest problem with more stimulus is the increase in the debt required to fund it.</i>  <i><b>&nbsp;There is no historical precedent, anywhere globally, that shows increased debt levels lead to more robust economic growth rates or prosperity.</b></i>  <i>&nbsp;Since 1980, the overall increase in debt has surged to levels that currently usurp the entirety of economic growth.</i>  <i><b>With economic growth rates now at the lowest levels on record, the change in debt continues to divert more tax dollars away from productive investments into the service of debt and social welfare.”</b></i>  <img src=\"https://static.tigerbbs.com/b2a13ef8b21cb5f0f15b7d3bc37642a0\" tg-width=\"500\" tg-height=\"279\"></p><p><blockquote><i>“更多刺激措施的最大问题是为其提供资金所需的债务增加。</i><i><b>全球任何地方都没有历史先例表明债务水平的增加会导致更强劲的经济增长率或繁荣。</b></i><i>自1980年以来，债务的总体增长已飙升至目前取代全部经济增长的水平。</i><i><b>由于经济增长率目前处于有记录以来的最低水平，债务的变化继续将更多的税收从生产性投资转移到偿还债务和社会福利上。”</b></i></blockquote></p><p> Just as it is with investing, getting&nbsp;<i>“back to even”</i>&nbsp;is not the same thing as&nbsp;<i>“organic growth.”</i></p><p><blockquote>就像投资一样，获得<i>“回到偶数”</i>不是一回事<i>“有机增长。”</i></blockquote></p><p> <b>The Second Derivative</b></p><p><blockquote><b>二阶导数</b></blockquote></p><p> What is shown above is the&nbsp;<b><i>“second derivative”</i></b>&nbsp;effect of growth.</p><p><blockquote>上面显示的是<b><i>二阶导数</i></b>增长的影响。</blockquote></p><p>   <i>“In&nbsp;calculus, the</i>  <i><b>second derivative</b></i>  <i>, or the</i>  <i><b>second-order derivative</b></i>  <i>, of a&nbsp;function&nbsp;f&nbsp;is the&nbsp;derivative&nbsp;of the derivative of&nbsp;f.” – Wikipedia.</i>  In English, the<i>&nbsp;“second derivative”</i>&nbsp;measures how the rate of change of a quantity is itself changing. Since we measure GDP growth on an annual rate of change basis, the larger the economy grows, the lower the rate of change will be. Here is a simplistic example go GDP growth:</p><p><blockquote><i>“在微积分中，</i><i><b>二阶导数</b></i><i>，或</i><i><b>二阶导数</b></i><i>函数f的导数是f的导数。”-维基百科。</i>在英语中，<i>二阶导数</i>测量一个量本身的变化率如何变化。由于我们以年变化率衡量GDP增长，经济增长越大，变化率就越低。这里有一个简单的GDP增长例子：</blockquote></p><p>   <i>In year 1,&nbsp;GDP = $1. In the second year, GDP grows to $2. The annual rate of change is 100%. However, in year 3, even though the economy grows to $3, the annual rate of change falls to just 50%.</i>  Given the long-term historical correlation between economic growth, corporate earnings, and annualized returns, the reversion to trend growth has implications for investors. As Liz notes:</p><p><blockquote><i>第一年，国内生产总值=1美元。第二年，GDP增长到2美元。年变化率为100%。然而，在第三年，即使经济增长到3美元，年变化率也下降到只有50%。</i>鉴于经济增长、企业盈利和年化回报之间的长期历史相关性，趋势增长的回归对投资者具有影响。正如Liz指出的：</blockquote></p><p></p><p>   <i>“Using three broad ranges for GDP growth historically, the lowest range (when the economy is barely growing or in recession) is accompanied by the highest annualized stock market performance.</i>  <i><b>GDP is only slightly back into positive territory on an annualized basis. However, the strong growth expected in the second quarter will push GDP into the highest zone. At that level, stocks have historically posted a negative annualized return.”</b></i>  <img src=\"https://static.tigerbbs.com/fefede26dacdf96c2afd65040c979eb5\" tg-width=\"500\" tg-height=\"289\"></p><p><blockquote><i>“从历史上看，GDP增长使用三个广泛的范围，最低范围（当经济几乎没有增长或陷入衰退时）伴随着最高的年化股市表现。</i><i><b>按年计算，GDP仅略微回到正值区域。然而，预计第二季度的强劲增长将推动GDP进入最高区域。在这个水平上，股票的年化回报率历来为负。”</b></i></blockquote></p><p> The reason is that once economic growth reaches higher levels, stocks have climbed to levels incorporating those expectations. In other words, when things are as&nbsp;<i>“good as they can get,”</i>&nbsp;stocks begin to reprice for slower future growth rates.</p><p><blockquote>原因是，一旦经济增长达到更高水平，股市就会攀升至包含这些预期的水平。换句话说，当事物如<i>“他们能得到的最好的。”</i>股票开始为未来增长率放缓重新定价。</blockquote></p><p> That is the phase we are at currently.</p><p><blockquote>这就是我们目前所处的阶段。</blockquote></p><p> <b>How Much Pent Up Demand Is There Anyway</b></p><p><blockquote><b>到底有多少被压抑的需求</b></blockquote></p><p> The main driver of the expected recovery from a&nbsp;<i>“recessionary”</i>&nbsp;low stems from the question of how much&nbsp;<i>“pent up”</i>&nbsp;demand currently exists?</p><p><blockquote>预期复苏的主要驱动因素<i>“衰退”</i>低源于多少的问题<i>“被压抑了”</i>需求目前存在吗？</blockquote></p><p> If we look at durable goods as an example, such would suggest that much of the demand for long-lasting products got pulled forward by consumers over the last 12-months.</p><p><blockquote>如果我们以耐用品为例，这表明在过去12个月里，消费者对耐用品的大部分需求都被拉动了。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a089734aaefc5afe0333a7ee63606fbe\" tg-width=\"500\" tg-height=\"184\"></p><p><blockquote></blockquote></p><p> Of course,&nbsp;<b>if we broaden that measure to retails sales which make up ~40% of the personal consumption expenditures (PCE) index</b>, we see much the same.</p><p><blockquote>当然，<b>如果我们把衡量标准扩大到占个人消费支出（PCE）指数40%左右零售销售</b>，我们看到的差不多。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e92c968f205973f191c55c538d189e2e\" tg-width=\"500\" tg-height=\"185\"></p><p><blockquote></blockquote></p><p> Given PCE,&nbsp;<b>which comprises nearly 70% of GDP,</b>&nbsp;has already recovered much of pandemic-related decline, how much&nbsp;<i>“pent up”</i>&nbsp;demand remains.</p><p><blockquote>给定PCE，<b>占国内生产总值近70%，</b>已经恢复了与大流行相关的大部分下降，有多少<i>“被压抑了”</i>需求依然存在。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4f718e21229399dc7e5997f4375c2541\" tg-width=\"500\" tg-height=\"185\"></p><p><blockquote></blockquote></p><p> However, wage growth outside of personal transfer payments&nbsp;<i>(i.e., stimulus)</i>&nbsp;hasn’t recovered. It is impossible to sustain higher rates of economic growth without wage growth.</p><p><blockquote>然而，个人转移支付之外的工资增长<i>（即刺激）</i>还没恢复。没有工资增长，就不可能维持更高的经济增长率。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/7caa93f603a20c9413aaf28b0ccbf2b5\" tg-width=\"500\" tg-height=\"368\"></p><p><blockquote></blockquote></p><p> <b>Importantly, as we saw in January and February following the $900 billion stimulus bill passage, there was a short-lived surge of activity. However, once individuals spent the money, activity quickly faded.</b>&nbsp;We saw the same with retail sales in April following the American Rescue Plan, which sent out $1400 checks.</p><p><blockquote><b>重要的是，正如我们在9000亿美元刺激法案通过后的1月和2月所看到的那样，活动出现了短暂的激增。然而，一旦个人花了钱，活动很快就消失了。</b>在美国救援计划发出1400美元支票后，我们在4月份的零售销售中看到了同样的情况。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c31449e02d4ba266c905203a16de1ad5\" tg-width=\"500\" tg-height=\"312\"></p><p><blockquote></blockquote></p><p> After the $1400 checks get spent, what will be the driver for continued consumption at previous rates? Further, given the impact of a larger economy (as it recovers), the rate of change will decline markedly in the months to come.</p><p><blockquote>1400美元支票花完后，以以前的价格继续消费的驱动力是什么？此外，鉴于更大经济体的影响（随着其复苏），变化率将在未来几个月显著下降。</blockquote></p><p> <b>Earnings Growth Inflection</b></p><p><blockquote><b>盈利增长拐点</b></blockquote></p><p>   <i>“Earnings growth has a high correlation to stock market performance, but with time lags that are less well-understood. We are about halfway through the first quarter S&amp;P 500 earnings season and so far, the results are exceptionally strong.” – Liz Ann Sonders</i>  That is correct, and given the high correlation between earnings and market returns, we come back to the same question. Has the advance in the market accounted for the rebound in earnings? More importantly, what happens when that growth reverses?</p><p><blockquote><i>“盈利增长与股市表现有很高的相关性，但其时滞不太为人所知。标普500第一季度财报季已过半，到目前为止，业绩异常强劲。”——莉兹·安·桑德斯</i>这是正确的，鉴于收益和市场回报之间的高度相关性，我们回到同一个问题。市场的上涨是否解释了盈利的反弹？更重要的是，当这种增长逆转时会发生什么？</blockquote></p><p>   <i>“Relative to last year’s second-quarter plunge of nearly -31% year-over-year, expectations are that S&amp;P 500 earnings will be up more than 46% in this year’s first quarter. The second quarter will boast a whopping 60% increase. Such should be the inflection point in terms of the year-over-year growth rate.” – Liz Ann Sonders</i>  <img src=\"https://static.tigerbbs.com/90ee4fca36856fe8fa3e5938aa46c656\" tg-width=\"500\" tg-height=\"141\"></p><p><blockquote><i>“相对于去年第二季度同比暴跌近-31%，预计标普500今年第一季度盈利将增长46%以上。第二季度将增长60%。这应该是同比增长率的拐点。”——莉兹·安·桑德斯</i></blockquote></p><p> The problem is the S&amp;P rose to levels that earnings growth will have difficulty supporting, particularly as the stimulus fades from the system. As with economic growth, the 2nd derivative of earnings growth is now a headwind for the markets.</p><p><blockquote>问题是，标准普尔指数升至盈利增长难以支撑的水平，特别是在刺激措施从系统中消退的情况下。与经济增长一样，盈利增长的二阶导数现在对市场来说是一个阻力。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/98ea62bdd7be88d7a4a281250f2b9f54\" tg-width=\"500\" tg-height=\"272\"></p><p><blockquote></blockquote></p><p> Such is also the problem of&nbsp;<i><b>“pulling forward sales.”</b></i></p><p><blockquote>这也是<i><b>“拉动销售。”</b></i></blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> Notably, the outsized growth of the market reflects repetitive interventions into the financial markets by the Fed. Those interventions detached financial asset growth from their long-term correlation to GDP growth, where corporate revenue comes from. Historically, when the<i><b>&nbsp;S&amp;P 500 becomes separated from economic growth,</b></i>&nbsp;a reversion occurred.</p><p><blockquote>值得注意的是，市场的大幅增长反映了美联储对金融市场的反复干预。这些干预措施将金融资产增长与其与GDP增长的长期相关性分开，而GDP增长是企业收入的来源。从历史上看，当<i><b>标普500指数与经济增长脱钩，</b></i>发生了逆转。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/517d8bbd7819339ad187c2d899d0e321\" tg-width=\"500\" tg-height=\"270\"></p><p><blockquote></blockquote></p><p></p><p> Currently, analysts are expecting earnings to surge well above economic growth rates. However, the flaw in the analysis is the assumption earnings growth will continue its current trend.</p><p><blockquote>目前，分析师预计盈利飙升将远高于经济增长率。然而，该分析的缺陷在于假设盈利增长将延续目前的趋势。</blockquote></p><p> <b>While there will be an economic recovery to pre-pandemic levels, a recovery is very different from an expansion.</b></p><p><blockquote><b>虽然经济将恢复到大流行前的水平，但复苏与扩张有很大不同。</b></blockquote></p><p> As Liz concludes:</p><p><blockquote>正如Liz总结的那样：</blockquote></p><p>   <i><b>“Optimism is extremely elevated.</b></i>  <i>Such is certainly justified by stock market behavior over the past year and recent economic releases.</i>  <i><b>But some curbing of enthusiasm may be warranted given the history of the stock market as an uncanny ‘sniffer-outer’ of economic inflection points.”</b></i>  <b>As she goes on to point out, this is not a time for FOMO-driven investment decision-making.</b>&nbsp;The reality is that the supports that drove the economic recovery will not support an ongoing economic expansion. One is self-sustaining organic growth from productive activity, and the other is not.</p><p><blockquote><i><b>“乐观情绪非常高涨。</b></i><i>过去一年的股市行为和最近的经济数据无疑证明了这一点。</i><i><b>但考虑到股市作为经济拐点的不可思议的‘嗅探者’的历史，可能有必要对热情进行一些抑制。”</b></i><b>正如她继续指出的那样，现在不是FOMO驱动的投资决策的时候。</b>现实情况是，推动经济复苏的支持不会支持持续的经济扩张。一种是来自生产活动的自我维持的有机增长，另一种不是。</blockquote></p><p> The risk of disappointment is high. And so are the costs of being<i>&nbsp;“wilfully blind”</i>&nbsp;to the dangers.</p><p><blockquote>失望的风险很高。存在的成本也是如此<i>“故意视而不见”</i>面对危险。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/have-stocks-already-priced-economic-boom?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">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":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/have-stocks-already-priced-economic-boom?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134242022","content_text":"The media is buzzing with claims of an “Economic Boom” in 2021. While the economy will most certainly grow in 2021, the question is how much is already “baked in?”\n\n“The economy has entered a period of supercharged growth. Instead of fizzling, it could potentially remain stronger than it was during the pre-pandemic era into 2023.\nEconomists now expect the second quarter to grow at a pace of 10%, and they expect growth for 2021 to be north of 6.5%.\nIn the past decade, only a few quarters gross domestic product growing at even 3%.”\n\nThe premise is that strong “pent up” demand will sustain the economic recovery over the next few years.\nHowever, since market lows in 2020, the market surge has not only recouped all of those losses but has rocketed to all-time highs on expectations of surging earnings growth.\nThe question: How much has gotten priced in?\nA Return To Normalcy\nJust recently, Liz Ann Sonders wrote a piece for Advisor Perspectives. To wit:\n\n“Vaccines and herd immunity continue to bring COVID cases down, and\n the economic reopening continues to kick into a higher gear. Such is whatthe data is starting to show.\n Across economic metrics, from the gross domestic product (GDP) to retail sales and job growth,\nboom conditions are evident\n.”\n\nShe is correct in her statement. However, there is a difference between an“economic boom” and a“recovery.” As shown in the chart of GDP growth below, the U.S. has already experienced a very sharp “economic recovery” from the recessionary lows. (I have included estimates for the rest of 2020, which shows a return to trend growth.)\n\nThe following chart shows the economic recovery against the massive dumps of liquidity pumped into the economy. (Estimates run through the end of 2021 using economist’s assumptions.)\n\nCan’t Recoup Losses\nCertain areas of the economy, like airlines, hotels, and cruise ships, have yet to recover to pre-pandemic levels.However, those industries only make up a relatively small amount of overall economic activity. Furthermore, these industries will continue to struggle for some time as individuals will not take “two vacations” this year since they missed last year. That activity is now forever lost.\nYes, the economy will recover most likely to pre-pandemic levels this year due to stimulus injections, but as discussed previously, what then?\n\n“The biggest problem with more stimulus is the increase in the debt required to fund it.\n There is no historical precedent, anywhere globally, that shows increased debt levels lead to more robust economic growth rates or prosperity.\n Since 1980, the overall increase in debt has surged to levels that currently usurp the entirety of economic growth.\nWith economic growth rates now at the lowest levels on record, the change in debt continues to divert more tax dollars away from productive investments into the service of debt and social welfare.”\n\n\nJust as it is with investing, getting “back to even” is not the same thing as “organic growth.”\nThe Second Derivative\nWhat is shown above is the “second derivative” effect of growth.\n\n“In calculus, the\nsecond derivative\n, or the\nsecond-order derivative\n, of a function f is the derivative of the derivative of f.” – Wikipedia.\n\nIn English, the “second derivative” measures how the rate of change of a quantity is itself changing. Since we measure GDP growth on an annual rate of change basis, the larger the economy grows, the lower the rate of change will be. Here is a simplistic example go GDP growth:\n\nIn year 1, GDP = $1. In the second year, GDP grows to $2. The annual rate of change is 100%. However, in year 3, even though the economy grows to $3, the annual rate of change falls to just 50%.\n\nGiven the long-term historical correlation between economic growth, corporate earnings, and annualized returns, the reversion to trend growth has implications for investors. As Liz notes:\n\n“Using three broad ranges for GDP growth historically, the lowest range (when the economy is barely growing or in recession) is accompanied by the highest annualized stock market performance.\nGDP is only slightly back into positive territory on an annualized basis. However, the strong growth expected in the second quarter will push GDP into the highest zone. At that level, stocks have historically posted a negative annualized return.”\n\n\nThe reason is that once economic growth reaches higher levels, stocks have climbed to levels incorporating those expectations. In other words, when things are as “good as they can get,” stocks begin to reprice for slower future growth rates.\nThat is the phase we are at currently.\nHow Much Pent Up Demand Is There Anyway\nThe main driver of the expected recovery from a “recessionary” low stems from the question of how much “pent up” demand currently exists?\nIf we look at durable goods as an example, such would suggest that much of the demand for long-lasting products got pulled forward by consumers over the last 12-months.\n\nOf course, if we broaden that measure to retails sales which make up ~40% of the personal consumption expenditures (PCE) index, we see much the same.\n\nGiven PCE, which comprises nearly 70% of GDP, has already recovered much of pandemic-related decline, how much “pent up” demand remains.\n\nHowever, wage growth outside of personal transfer payments (i.e., stimulus) hasn’t recovered. It is impossible to sustain higher rates of economic growth without wage growth.\n\nImportantly, as we saw in January and February following the $900 billion stimulus bill passage, there was a short-lived surge of activity. However, once individuals spent the money, activity quickly faded. We saw the same with retail sales in April following the American Rescue Plan, which sent out $1400 checks.\n\nAfter the $1400 checks get spent, what will be the driver for continued consumption at previous rates? Further, given the impact of a larger economy (as it recovers), the rate of change will decline markedly in the months to come.\nEarnings Growth Inflection\n\n“Earnings growth has a high correlation to stock market performance, but with time lags that are less well-understood. We are about halfway through the first quarter S&P 500 earnings season and so far, the results are exceptionally strong.” – Liz Ann Sonders\n\nThat is correct, and given the high correlation between earnings and market returns, we come back to the same question. Has the advance in the market accounted for the rebound in earnings? More importantly, what happens when that growth reverses?\n\n“Relative to last year’s second-quarter plunge of nearly -31% year-over-year, expectations are that S&P 500 earnings will be up more than 46% in this year’s first quarter. The second quarter will boast a whopping 60% increase. Such should be the inflection point in terms of the year-over-year growth rate.” – Liz Ann Sonders\n\n\nThe problem is the S&P rose to levels that earnings growth will have difficulty supporting, particularly as the stimulus fades from the system. As with economic growth, the 2nd derivative of earnings growth is now a headwind for the markets.\n\nSuch is also the problem of “pulling forward sales.”\nConclusion\nNotably, the outsized growth of the market reflects repetitive interventions into the financial markets by the Fed. Those interventions detached financial asset growth from their long-term correlation to GDP growth, where corporate revenue comes from. Historically, when the S&P 500 becomes separated from economic growth, a reversion occurred.\n\nCurrently, analysts are expecting earnings to surge well above economic growth rates. However, the flaw in the analysis is the assumption earnings growth will continue its current trend.\nWhile there will be an economic recovery to pre-pandemic levels, a recovery is very different from an expansion.\nAs Liz concludes:\n\n“Optimism is extremely elevated.\nSuch is certainly justified by stock market behavior over the past year and recent economic releases.\nBut some curbing of enthusiasm may be warranted given the history of the stock market as an uncanny ‘sniffer-outer’ of economic inflection points.”\n\nAs she goes on to point out, this is not a time for FOMO-driven investment decision-making. The reality is that the supports that drove the economic recovery will not support an ongoing economic expansion. One is self-sustaining organic growth from productive activity, and the other is not.\nThe risk of disappointment is high. And so are the costs of being “wilfully blind” to the dangers.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":1061,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115479528,"gmtCreate":1623028879364,"gmtModify":1634096117585,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"Corn and corn oil price will move up?","listText":"Corn and corn oil price will move up?","text":"Corn and corn oil price will move up?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/115479528","repostId":"2141284552","repostType":4,"isVote":1,"tweetType":1,"viewCount":1034,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115011196,"gmtCreate":1622940656215,"gmtModify":1634096831765,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"Ok&nbsp;","listText":"Ok&nbsp;","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/115011196","repostId":"1106312903","repostType":4,"repost":{"id":"1106312903","kind":"news","pubTimestamp":1622855773,"share":"https://www.laohu8.com/m/news/1106312903?lang=zh_CN&edition=full","pubTime":"2021-06-05 09:16","market":"us","language":"en","title":"U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106312903","media":"Renaissance Capital","summary":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental h","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</li><li>支付平台Marqeta计划以124亿美元的市值筹集10亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>马尔凯塔</b>(MQ)计划以124亿美元的市值筹集10亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta发展迅速，其客户包括Affirm(AFRM)和DoorDash(DASH)等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中文在线招聘平台<b>看准</b>(BZ)计划以82亿美元的市值筹集8.64亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，按月活跃用户数计算，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>生命健康</b>(LFST)计划以61亿美元的市值筹集6.4亿美元。LifeStance表示，截至2021年3月31日，它已经建立了美国最大的门诊心理健康平台之一，在27个州的73个MSA中雇用了3,300多名持牌心理健康临床医生。尽管2021年第一季度的息税前利润转为负值，但该公司仍实现了增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>周一网</b>(MNDY)计划以68亿美元的市值筹集4.9亿美元。monday.com允许组织轻松构建满足其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce和Zoom计划同时进行私募，总共投资1.5亿美元。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>塔斯库斯</b>(TASK)计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利强劲，增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA)计划以21亿美元的市值筹集2.5亿美元。该公司的Zeta营销平台使用身份数据通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta已实现盈利，为1,000多家客户提供服务，2020年提供约5亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>网上奢侈品市场<b>第一个</b>(DIBS)计划以7.73亿美元的市值筹集1.12亿美元。1stDibs连接复古、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020年，该市场有超过58,000名买家在过去一年中进行了购买，平均每年的总购买额超过5,500美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME)计划以19亿美元的市值筹集4300万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年占据32%的市场份额。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将有6家公司接受街头调查，多达11家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2011年6月3日，文艺复兴IPO指数今年迄今下跌6.0%，而标普500上涨11.6%。Renaissance Capital的IPO ETF（纽约证券交易所股票代码：IPO）跟踪该指数，持有最多的ETF包括Zoom Video（ZM）和优步（UBER）。Renaissance International IPO指数今年迄今下跌1.1%，而ACWX指数上涨10.5%。Renaissance Capital的国际IPO ETF（纽约证券交易所股票代码：IPOS）跟踪该指数，持有最多的ETF包括Nexi和EQT Partners。</blockquote></p><p></p>","source":"lsy1603787993745","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Renaissance Capital</strong><span class=\"h-time small\">2021-06-05 09:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</li><li>支付平台Marqeta计划以124亿美元的市值筹集10亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>马尔凯塔</b>(MQ)计划以124亿美元的市值筹集10亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta发展迅速，其客户包括Affirm(AFRM)和DoorDash(DASH)等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中文在线招聘平台<b>看准</b>(BZ)计划以82亿美元的市值筹集8.64亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，按月活跃用户数计算，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>生命健康</b>(LFST)计划以61亿美元的市值筹集6.4亿美元。LifeStance表示，截至2021年3月31日，它已经建立了美国最大的门诊心理健康平台之一，在27个州的73个MSA中雇用了3,300多名持牌心理健康临床医生。尽管2021年第一季度的息税前利润转为负值，但该公司仍实现了增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>周一网</b>(MNDY)计划以68亿美元的市值筹集4.9亿美元。monday.com允许组织轻松构建满足其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce和Zoom计划同时进行私募，总共投资1.5亿美元。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>塔斯库斯</b>(TASK)计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利强劲，增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA)计划以21亿美元的市值筹集2.5亿美元。该公司的Zeta营销平台使用身份数据通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta已实现盈利，为1,000多家客户提供服务，2020年提供约5亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>网上奢侈品市场<b>第一个</b>(DIBS)计划以7.73亿美元的市值筹集1.12亿美元。1stDibs连接复古、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020年，该市场有超过58,000名买家在过去一年中进行了购买，平均每年的总购买额超过5,500美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME)计划以19亿美元的市值筹集4300万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年占据32%的市场份额。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将有6家公司接受街头调查，多达11家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2011年6月3日，文艺复兴IPO指数今年迄今下跌6.0%，而标普500上涨11.6%。Renaissance Capital的IPO ETF（纽约证券交易所股票代码：IPO）跟踪该指数，持有最多的ETF包括Zoom Video（ZM）和优步（UBER）。Renaissance International IPO指数今年迄今下跌1.1%，而ACWX指数上涨10.5%。Renaissance Capital的国际IPO ETF（纽约证券交易所股票代码：IPOS）跟踪该指数，持有最多的ETF包括Nexi和EQT Partners。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div\">Renaissance Capital</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":{"MQ":"Marqeta, Inc.","LFST":"LifeStance Health Group, Inc.","ZME":"掌门教育","TASK":"TaskUs Inc.",".IXIC":"NASDAQ Composite",".DJI":"道琼斯","BZ":"BOSS直聘",".SPX":"S&P 500 Index","MNDY":"Monday.com Ltd.","DIBS":"1stdibs.com Inc.","ZETA":"Zeta Global Holdings Corp."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106312903","content_text":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.\nChinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.\nChinese online recruitment platform Kanzhun(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.\nMental health services provider LifeStance Health(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.\nIsrael’s monday.com(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.\nBPO vendor TaskUs(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.\nData-driven marketing platform Zeta Global(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.\nOnline luxury goods marketplace 1stDibs(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.\nChinese online tutoring platform Zhangmen Education(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.\n\nStreet research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.","news_type":1,"symbols_score_info":{"TASK":0.9,"ZETA":0.9,".SPX":0.9,"DIBS":0.9,"LFST":0.9,"MQ":0.9,".IXIC":0.9,"ZME":0.9,"MNDY":0.9,".DJI":0.9,"BZ":0.9}},"isVote":1,"tweetType":1,"viewCount":964,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116848481,"gmtCreate":1622792661143,"gmtModify":1634097964364,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"That is Good","listText":"That is Good","text":"That is Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/116848481","repostId":"1142022628","repostType":4,"isVote":1,"tweetType":1,"viewCount":1111,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116841239,"gmtCreate":1622792549821,"gmtModify":1634097964837,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/116841239","repostId":"2140475472","repostType":4,"isVote":1,"tweetType":1,"viewCount":1171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137894745,"gmtCreate":1622335075487,"gmtModify":1634102298945,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"Umm...such news affect investors' confidence.","listText":"Umm...such news affect investors' confidence.","text":"Umm...such news affect investors' confidence.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/137894745","repostId":"2138765488","repostType":4,"isVote":1,"tweetType":1,"viewCount":1368,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137896691,"gmtCreate":1622334913813,"gmtModify":1634102302021,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"Good to know","listText":"Good to know","text":"Good to know","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/137896691","repostId":"1159760711","repostType":4,"repost":{"id":"1159760711","kind":"news","pubTimestamp":1622210255,"share":"https://www.laohu8.com/m/news/1159760711?lang=zh_CN&edition=full","pubTime":"2021-05-28 21:57","market":"us","language":"en","title":"Credit Suisse Cuts Ties With SoftBank After Greensill Crisis<blockquote>格林希尔危机后瑞士信贷切断与软银的联系</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159760711","media":"Bloomberg","summary":"(Bloomberg) -- Credit Suisse Group AG is cutting ties with SoftBank Group Corp., distancing itself f","content":"<p>(Bloomberg) -- Credit Suisse Group AG is cutting ties with SoftBank Group Corp., distancing itself from a key backer to Lex Greensill’s collapsed supply-chain finance empire after conflict of interest allegations.</p><p><blockquote>（彭博社）-瑞士信贷集团正在切断与软银集团的联系，与莱克斯·格林希尔(Lex Greensill)因利益冲突指控而崩溃的供应链金融帝国的主要支持者保持距离。</blockquote></p><p>The Swiss lender will no longer do any new business with the Japanese firm, people with knowledge of situation said, asking not to be identified because the matter is private. The decision may ripple across Credit Suisse’s investment bank: SoftBank has been a prolific deal-maker and last year Credit Suisse and other banks held about $8 billion of SoftBank shares in collateral, pledged by founder Masayoshi Son.</p><p><blockquote>知情人士表示，这家瑞士银行将不再与这家日本公司开展任何新业务。由于此事属于私人性质，因此要求匿名。这一决定可能会波及瑞士信贷的投资银行：软银一直是一个多产的交易撮合者，去年瑞士信贷和其他银行持有约80亿美元的软银股票作为抵押品，由创始人孙正义质押。</blockquote></p><p>It is unclear how long the ban lasts for, or whether it impacts any ongoing deals.</p><p><blockquote>目前尚不清楚该禁令将持续多久，也不清楚它是否会影响任何正在进行的交易。</blockquote></p><p>Credit Suisse is reviewing its risk and client relationships after being hit by the twin collapses of Greensill and Archegos Capital Management. New Chairman Antonio-Horta Osorio has pledged a wide-ranging review after the bank was forced to suspend billions of dollars of funds it managed with Greensill and took a $5.5 billion hit on Archegos, raising questions about the oversight of key clients.</p><p><blockquote>在遭受Greensill和Archegos Capital Management双重倒闭的打击后，瑞士信贷正在审查其风险和客户关系。新任董事长安东尼奥-奥尔塔·奥索里奥(Antonio-Horta Osorio)承诺进行广泛审查，此前该银行被迫暂停与Greensill管理的数十亿美元资金，并对Archegos遭受了55亿美元的打击，引发了人们对关键客户监管的质疑。</blockquote></p><p>A Tokyo-based spokesperson at SoftBank Group wasn’t immediately available to comment, while Credit Suisse declined to comment.</p><p><blockquote>软银集团驻东京发言人未能立即置评，而瑞士信贷则拒绝置评。</blockquote></p><p>Credit Suisse conducted an internal review into the Greensill funds after allegations of possible conflicts of interest involving SoftBank last year. A number of SoftBank portfolio companies received loans via supply-chain funds at Credit Suisse, while SoftBank was also an investor in the Credit Suisse funds. In the aftermath, SoftBank pulled $700 million out of the funds and the bank also changed its investment guidelines for Credit Suisse’s funds to reduce the maximum exposure to a single borrower.</p><p><blockquote>去年，在软银被指控可能存在利益冲突后，瑞士信贷对Greensill基金进行了内部审查。软银的许多投资组合公司通过瑞士信贷的供应链基金获得贷款，而软银也是瑞士信贷基金的投资者。随后，软银从这些基金中撤出了7亿美元，该银行还改变了对瑞士信贷基金的投资准则，以减少对单一借款人的最大敞口。</blockquote></p><p>Credit Suisse Overhauls Rules for Funds Accused of Conflicts</p><p><blockquote>瑞士信贷彻底改革被指控存在冲突的基金规则</blockquote></p><p>The overlapping financial relationships had raised questions whether SoftBank was using the Credit Suisse funds to prop up investments in the Vision Fund, including Greensill Capital, in which it had a substantial stake.</p><p><blockquote>重叠的财务关系引发了人们的疑问，即软银是否在利用瑞士信贷的资金来支持对愿景基金的投资，包括其持有大量股份的Greensill Capital。</blockquote></p><p>SoftBank wrote down its $1.5 billion holding of Greensill to close to zero after Credit Suisse was forced to wind down its four Greensill-linked funds in March, people familiar with the matter earlier said. SoftBank is now seeking $1.15 billion in claims as part of Greensill’s insolvency proceedings.</p><p><blockquote>知情人士早些时候表示，在瑞士信贷3月份被迫清盘其四只与Greensill相关的基金后，软银将其持有的15亿美元Greensill减记至接近于零。作为Greensill破产程序的一部分，软银目前正在寻求11.5亿美元的索赔。</blockquote></p><p>Credit Suisse marketed its popular supply-chain finance funds as among the safest investments it offered, because the loans they held were backed by invoices usually paid in weeks and the funds were insured. But as the funds grew into a $10 billion strategy, they strayed from that pitch and much of the money was lent through Greensill against expected future invoices, for sales that were merely predicted. The firm’s collapse forced Credit Suisse to liquidate the funds, and investors finally payment is still uncertain.</p><p><blockquote>瑞士信贷将其广受欢迎的供应链金融基金宣传为其提供的最安全的投资之一，因为它们持有的贷款有发票支持，通常在几周内支付，而且资金也有保险。但随着这些基金发展成为100亿美元的战略，他们偏离了这一目标，大部分资金是通过Greensill根据预期的未来发票借出的，用于仅仅是预测的销售。该公司的倒闭迫使瑞士信贷清算资金，投资者最终的付款仍不确定。</blockquote></p><p></p>","source":"lsy1612507957220","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>Credit Suisse Cuts Ties With SoftBank After Greensill Crisis<blockquote>格林希尔危机后瑞士信贷切断与软银的联系</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\">\nCredit Suisse Cuts Ties With SoftBank After Greensill Crisis<blockquote>格林希尔危机后瑞士信贷切断与软银的联系</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-05-28 21:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- Credit Suisse Group AG is cutting ties with SoftBank Group Corp., distancing itself from a key backer to Lex Greensill’s collapsed supply-chain finance empire after conflict of interest allegations.</p><p><blockquote>（彭博社）-瑞士信贷集团正在切断与软银集团的联系，与莱克斯·格林希尔(Lex Greensill)因利益冲突指控而崩溃的供应链金融帝国的主要支持者保持距离。</blockquote></p><p>The Swiss lender will no longer do any new business with the Japanese firm, people with knowledge of situation said, asking not to be identified because the matter is private. The decision may ripple across Credit Suisse’s investment bank: SoftBank has been a prolific deal-maker and last year Credit Suisse and other banks held about $8 billion of SoftBank shares in collateral, pledged by founder Masayoshi Son.</p><p><blockquote>知情人士表示，这家瑞士银行将不再与这家日本公司开展任何新业务。由于此事属于私人性质，因此要求匿名。这一决定可能会波及瑞士信贷的投资银行：软银一直是一个多产的交易撮合者，去年瑞士信贷和其他银行持有约80亿美元的软银股票作为抵押品，由创始人孙正义质押。</blockquote></p><p>It is unclear how long the ban lasts for, or whether it impacts any ongoing deals.</p><p><blockquote>目前尚不清楚该禁令将持续多久，也不清楚它是否会影响任何正在进行的交易。</blockquote></p><p>Credit Suisse is reviewing its risk and client relationships after being hit by the twin collapses of Greensill and Archegos Capital Management. New Chairman Antonio-Horta Osorio has pledged a wide-ranging review after the bank was forced to suspend billions of dollars of funds it managed with Greensill and took a $5.5 billion hit on Archegos, raising questions about the oversight of key clients.</p><p><blockquote>在遭受Greensill和Archegos Capital Management双重倒闭的打击后，瑞士信贷正在审查其风险和客户关系。新任董事长安东尼奥-奥尔塔·奥索里奥(Antonio-Horta Osorio)承诺进行广泛审查，此前该银行被迫暂停与Greensill管理的数十亿美元资金，并对Archegos遭受了55亿美元的打击，引发了人们对关键客户监管的质疑。</blockquote></p><p>A Tokyo-based spokesperson at SoftBank Group wasn’t immediately available to comment, while Credit Suisse declined to comment.</p><p><blockquote>软银集团驻东京发言人未能立即置评，而瑞士信贷则拒绝置评。</blockquote></p><p>Credit Suisse conducted an internal review into the Greensill funds after allegations of possible conflicts of interest involving SoftBank last year. A number of SoftBank portfolio companies received loans via supply-chain funds at Credit Suisse, while SoftBank was also an investor in the Credit Suisse funds. In the aftermath, SoftBank pulled $700 million out of the funds and the bank also changed its investment guidelines for Credit Suisse’s funds to reduce the maximum exposure to a single borrower.</p><p><blockquote>去年，在软银被指控可能存在利益冲突后，瑞士信贷对Greensill基金进行了内部审查。软银的许多投资组合公司通过瑞士信贷的供应链基金获得贷款，而软银也是瑞士信贷基金的投资者。随后，软银从这些基金中撤出了7亿美元，该银行还改变了对瑞士信贷基金的投资准则，以减少对单一借款人的最大敞口。</blockquote></p><p>Credit Suisse Overhauls Rules for Funds Accused of Conflicts</p><p><blockquote>瑞士信贷彻底改革被指控存在冲突的基金规则</blockquote></p><p>The overlapping financial relationships had raised questions whether SoftBank was using the Credit Suisse funds to prop up investments in the Vision Fund, including Greensill Capital, in which it had a substantial stake.</p><p><blockquote>重叠的财务关系引发了人们的疑问，即软银是否在利用瑞士信贷的资金来支持对愿景基金的投资，包括其持有大量股份的Greensill Capital。</blockquote></p><p>SoftBank wrote down its $1.5 billion holding of Greensill to close to zero after Credit Suisse was forced to wind down its four Greensill-linked funds in March, people familiar with the matter earlier said. SoftBank is now seeking $1.15 billion in claims as part of Greensill’s insolvency proceedings.</p><p><blockquote>知情人士早些时候表示，在瑞士信贷3月份被迫清盘其四只与Greensill相关的基金后，软银将其持有的15亿美元Greensill减记至接近于零。作为Greensill破产程序的一部分，软银目前正在寻求11.5亿美元的索赔。</blockquote></p><p>Credit Suisse marketed its popular supply-chain finance funds as among the safest investments it offered, because the loans they held were backed by invoices usually paid in weeks and the funds were insured. But as the funds grew into a $10 billion strategy, they strayed from that pitch and much of the money was lent through Greensill against expected future invoices, for sales that were merely predicted. The firm’s collapse forced Credit Suisse to liquidate the funds, and investors finally payment is still uncertain.</p><p><blockquote>瑞士信贷将其广受欢迎的供应链金融基金宣传为其提供的最安全的投资之一，因为它们持有的贷款有发票支持，通常在几周内支付，而且资金也有保险。但随着这些基金发展成为100亿美元的战略，他们偏离了这一目标，大部分资金是通过Greensill根据预期的未来发票借出的，用于仅仅是预测的销售。该公司的倒闭迫使瑞士信贷清算资金，投资者最终的付款仍不确定。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/credit-suisse-cuts-ties-softbank-132036883.html\">Bloomberg</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/credit-suisse-cuts-ties-softbank-132036883.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159760711","content_text":"(Bloomberg) -- Credit Suisse Group AG is cutting ties with SoftBank Group Corp., distancing itself from a key backer to Lex Greensill’s collapsed supply-chain finance empire after conflict of interest allegations.The Swiss lender will no longer do any new business with the Japanese firm, people with knowledge of situation said, asking not to be identified because the matter is private. The decision may ripple across Credit Suisse’s investment bank: SoftBank has been a prolific deal-maker and last year Credit Suisse and other banks held about $8 billion of SoftBank shares in collateral, pledged by founder Masayoshi Son.It is unclear how long the ban lasts for, or whether it impacts any ongoing deals.Credit Suisse is reviewing its risk and client relationships after being hit by the twin collapses of Greensill and Archegos Capital Management. New Chairman Antonio-Horta Osorio has pledged a wide-ranging review after the bank was forced to suspend billions of dollars of funds it managed with Greensill and took a $5.5 billion hit on Archegos, raising questions about the oversight of key clients.A Tokyo-based spokesperson at SoftBank Group wasn’t immediately available to comment, while Credit Suisse declined to comment.Credit Suisse conducted an internal review into the Greensill funds after allegations of possible conflicts of interest involving SoftBank last year. A number of SoftBank portfolio companies received loans via supply-chain funds at Credit Suisse, while SoftBank was also an investor in the Credit Suisse funds. In the aftermath, SoftBank pulled $700 million out of the funds and the bank also changed its investment guidelines for Credit Suisse’s funds to reduce the maximum exposure to a single borrower.Credit Suisse Overhauls Rules for Funds Accused of ConflictsThe overlapping financial relationships had raised questions whether SoftBank was using the Credit Suisse funds to prop up investments in the Vision Fund, including Greensill Capital, in which it had a substantial stake.SoftBank wrote down its $1.5 billion holding of Greensill to close to zero after Credit Suisse was forced to wind down its four Greensill-linked funds in March, people familiar with the matter earlier said. SoftBank is now seeking $1.15 billion in claims as part of Greensill’s insolvency proceedings.Credit Suisse marketed its popular supply-chain finance funds as among the safest investments it offered, because the loans they held were backed by invoices usually paid in weeks and the funds were insured. But as the funds grew into a $10 billion strategy, they strayed from that pitch and much of the money was lent through Greensill against expected future invoices, for sales that were merely predicted. The firm’s collapse forced Credit Suisse to liquidate the funds, and investors finally payment is still uncertain.","news_type":1,"symbols_score_info":{"CS":0.9}},"isVote":1,"tweetType":1,"viewCount":563,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137072362,"gmtCreate":1622276643956,"gmtModify":1634102556114,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"I hope travelling in the old way will come back after Codvic even if that will take a few years.","listText":"I hope travelling in the old way will come back after Codvic even if that will take a few years.","text":"I hope travelling in the old way will come back after Codvic even if that will take a few years.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/137072362","repostId":"2138948877","repostType":4,"isVote":1,"tweetType":1,"viewCount":605,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135617730,"gmtCreate":1622161083220,"gmtModify":1634183330745,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"All seems positive","listText":"All seems positive","text":"All seems positive","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/135617730","repostId":"1198020203","repostType":4,"isVote":1,"tweetType":1,"viewCount":460,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135615898,"gmtCreate":1622160994514,"gmtModify":1634183332803,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"Market seems toppish...","listText":"Market seems toppish...","text":"Market seems toppish...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/135615898","repostId":"2138179881","repostType":4,"isVote":1,"tweetType":1,"viewCount":416,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138324293,"gmtCreate":1621911876112,"gmtModify":1634185549931,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"Stocks seem to move higher and higher","listText":"Stocks seem to move higher and higher","text":"Stocks seem to move higher and higher","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/138324293","isVote":1,"tweetType":1,"viewCount":535,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":131367193,"gmtCreate":1621829209712,"gmtModify":1634186270778,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"Can buy?","listText":"Can buy?","text":"Can buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/131367193","repostId":"1122516428","repostType":4,"repost":{"id":"1122516428","kind":"news","pubTimestamp":1621823919,"share":"https://www.laohu8.com/m/news/1122516428?lang=zh_CN&edition=full","pubTime":"2021-05-24 10:38","market":"us","language":"en","title":"The Cryptocurrency Plunge Continues, What's Ahead?<blockquote>加密货币暴跌仍在继续，接下来会发生什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122516428","media":"Mish Talk","summary":"In the past week cryptos have taken a hit. Let's look at price support levels for Bitcoin and Dogeco","content":"<p>In the past week cryptos have taken a hit. Let's look at price support levels for Bitcoin and Dogecoin.</p><p><blockquote>在过去的一周里，加密货币受到了打击。让我们看看比特币和狗狗币的价格支撑位。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cf39af67e14c8370a1a9b4f817f1c554\" tg-width=\"700\" tg-height=\"489\" referrerpolicy=\"no-referrer\"><b>For Entertainment Only</b></p><p><blockquote><b>仅供娱乐</b></blockquote></p><p>In the past 7 days Internet Computer is down 56%, Polkadot 50%, Biance 48%, Ethereum 42%, Dogecoin 39%.</p><p><blockquote>在过去的7天里，互联网电脑下跌了56%，Polkadot下跌了50%，Biance下跌了48%，以太币下跌了42%，狗狗币下跌了39%。</blockquote></p><p>I confess, I never heard of Polkadot or Internet Computer.</p><p><blockquote>我承认，我从未听说过Polkadot或互联网计算机。</blockquote></p><p>It is only the spectacular action in Dogecoin that got me looking. I watch for entertainment only.</p><p><blockquote>只有Dogecoin的壮观动作让我看到了。我看电视只是为了娱乐。</blockquote></p><p><b>Bitcoin Price Support Levels</b></p><p><blockquote><b>比特币价格支撑位</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/722f53db18e8a9b8e3321209c643f5f8\" tg-width=\"700\" tg-height=\"448\" referrerpolicy=\"no-referrer\">For those inclined to buy for technical reasons, Bitcoin has support at the $30,000 level. There is also support at the $17,000 level and very strong support at the $11,000 level.</p><p><blockquote>对于那些出于技术原因倾向于买入的人来说，比特币在30,000美元水平有支撑。17,000美元水平也有支撑，11,000美元水平也有非常强的支撑。</blockquote></p><p>In addition, Bitcoin has minor support levels between $17,000 and $30,000.</p><p><blockquote>此外，比特币在17,000美元至30,000美元之间有次要支撑位。</blockquote></p><p><b>Dogecoin Price Support Levels</b></p><p><blockquote><b>狗狗币价格支撑位</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/261ee8728e852797f6a52c4fa79b35f0\" tg-width=\"700\" tg-height=\"440\" referrerpolicy=\"no-referrer\">Dogecoin has tiny technical support at $0.30 and more support at $0.24. Strong support for Dogecoin is down at a nickel.</p><p><blockquote>狗狗币在0.30美元有微小的技术支撑，在0.24美元有更多支撑。狗狗币的强劲支撑下跌了5美分。</blockquote></p><p><b>What's Ahead?</b></p><p><blockquote><b>前面是什么？</b></blockquote></p><p>I don't know and no one else does either.</p><p><blockquote>我不知道，其他人也不知道。</blockquote></p><p>One could have made more in Dogecoin or Polkadot this year than Bitcoin.</p><p><blockquote>今年人们在Dogecoin或Polkadot上赚的钱可能比比特币还多。</blockquote></p><p>Whether that remains true in another month for those HODLing all year is another matter.</p><p><blockquote>对于那些整年都在等待的人来说，这在下一个月是否仍然是真的是另一回事。</blockquote></p><p><b>Fundamentally Speaking</b></p><p><blockquote><b>从根本上说</b></blockquote></p><p>Bitcoin was the first mover and has institutional support.</p><p><blockquote>比特币是先行者，有制度支持。</blockquote></p><p>Dogecoin has Elon's mouth.</p><p><blockquote>狗狗币有埃隆的嘴。</blockquote></p><p>Regarding institutional support, Enron, JDSU, and Worldcom had that at one time too.</p><p><blockquote>关于机构支持，安然、JDSU和世通也曾有过这种支持。</blockquote></p><p>Will any of them survive? I don't know, but Bitcoin is far more likely to survive than any of the rest of them.</p><p><blockquote>他们中有人能活下来吗？我不知道，但比特币比其他人更有可能活下来。</blockquote></p><p>I have my doubts Dodgecoin will be worth more than a nickel by the end of the year. A nickel by next week would not surprise me in the least.</p><p><blockquote>我怀疑到今年年底，道奇币的价值会超过5美分。到下周，我一点也不会感到惊讶。</blockquote></p><p>Thus, I would far rather bet on Bitcoin than Dogecoin.</p><p><blockquote>因此，我宁愿押注比特币而不是狗狗币。</blockquote></p><p>Take all of that for what it's worth: Perhaps Nothing.</p><p><blockquote>接受所有这些的价值：也许什么都没有。</blockquote></p><p>I am watching in amusement from the sidelines, but I can read a chart. Dogecoin looks ominous.</p><p><blockquote>我在一旁看得很开心，但我能看懂图表。狗狗币看起来不祥。</blockquote></p><p></p>","source":"lsy1620736834627","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>The Cryptocurrency Plunge Continues, What's Ahead?<blockquote>加密货币暴跌仍在继续，接下来会发生什么？</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\">\nThe Cryptocurrency Plunge Continues, What's Ahead?<blockquote>加密货币暴跌仍在继续，接下来会发生什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Mish Talk</strong><span class=\"h-time small\">2021-05-24 10:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In the past week cryptos have taken a hit. Let's look at price support levels for Bitcoin and Dogecoin.</p><p><blockquote>在过去的一周里，加密货币受到了打击。让我们看看比特币和狗狗币的价格支撑位。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cf39af67e14c8370a1a9b4f817f1c554\" tg-width=\"700\" tg-height=\"489\" referrerpolicy=\"no-referrer\"><b>For Entertainment Only</b></p><p><blockquote><b>仅供娱乐</b></blockquote></p><p>In the past 7 days Internet Computer is down 56%, Polkadot 50%, Biance 48%, Ethereum 42%, Dogecoin 39%.</p><p><blockquote>在过去的7天里，互联网电脑下跌了56%，Polkadot下跌了50%，Biance下跌了48%，以太币下跌了42%，狗狗币下跌了39%。</blockquote></p><p>I confess, I never heard of Polkadot or Internet Computer.</p><p><blockquote>我承认，我从未听说过Polkadot或互联网计算机。</blockquote></p><p>It is only the spectacular action in Dogecoin that got me looking. I watch for entertainment only.</p><p><blockquote>只有Dogecoin的壮观动作让我看到了。我看电视只是为了娱乐。</blockquote></p><p><b>Bitcoin Price Support Levels</b></p><p><blockquote><b>比特币价格支撑位</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/722f53db18e8a9b8e3321209c643f5f8\" tg-width=\"700\" tg-height=\"448\" referrerpolicy=\"no-referrer\">For those inclined to buy for technical reasons, Bitcoin has support at the $30,000 level. There is also support at the $17,000 level and very strong support at the $11,000 level.</p><p><blockquote>对于那些出于技术原因倾向于买入的人来说，比特币在30,000美元水平有支撑。17,000美元水平也有支撑，11,000美元水平也有非常强的支撑。</blockquote></p><p>In addition, Bitcoin has minor support levels between $17,000 and $30,000.</p><p><blockquote>此外，比特币在17,000美元至30,000美元之间有次要支撑位。</blockquote></p><p><b>Dogecoin Price Support Levels</b></p><p><blockquote><b>狗狗币价格支撑位</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/261ee8728e852797f6a52c4fa79b35f0\" tg-width=\"700\" tg-height=\"440\" referrerpolicy=\"no-referrer\">Dogecoin has tiny technical support at $0.30 and more support at $0.24. Strong support for Dogecoin is down at a nickel.</p><p><blockquote>狗狗币在0.30美元有微小的技术支撑，在0.24美元有更多支撑。狗狗币的强劲支撑下跌了5美分。</blockquote></p><p><b>What's Ahead?</b></p><p><blockquote><b>前面是什么？</b></blockquote></p><p>I don't know and no one else does either.</p><p><blockquote>我不知道，其他人也不知道。</blockquote></p><p>One could have made more in Dogecoin or Polkadot this year than Bitcoin.</p><p><blockquote>今年人们在Dogecoin或Polkadot上赚的钱可能比比特币还多。</blockquote></p><p>Whether that remains true in another month for those HODLing all year is another matter.</p><p><blockquote>对于那些整年都在等待的人来说，这在下一个月是否仍然是真的是另一回事。</blockquote></p><p><b>Fundamentally Speaking</b></p><p><blockquote><b>从根本上说</b></blockquote></p><p>Bitcoin was the first mover and has institutional support.</p><p><blockquote>比特币是先行者，有制度支持。</blockquote></p><p>Dogecoin has Elon's mouth.</p><p><blockquote>狗狗币有埃隆的嘴。</blockquote></p><p>Regarding institutional support, Enron, JDSU, and Worldcom had that at one time too.</p><p><blockquote>关于机构支持，安然、JDSU和世通也曾有过这种支持。</blockquote></p><p>Will any of them survive? I don't know, but Bitcoin is far more likely to survive than any of the rest of them.</p><p><blockquote>他们中有人能活下来吗？我不知道，但比特币比其他人更有可能活下来。</blockquote></p><p>I have my doubts Dodgecoin will be worth more than a nickel by the end of the year. A nickel by next week would not surprise me in the least.</p><p><blockquote>我怀疑到今年年底，道奇币的价值会超过5美分。到下周，我一点也不会感到惊讶。</blockquote></p><p>Thus, I would far rather bet on Bitcoin than Dogecoin.</p><p><blockquote>因此，我宁愿押注比特币而不是狗狗币。</blockquote></p><p>Take all of that for what it's worth: Perhaps Nothing.</p><p><blockquote>接受所有这些的价值：也许什么都没有。</blockquote></p><p>I am watching in amusement from the sidelines, but I can read a chart. Dogecoin looks ominous.</p><p><blockquote>我在一旁看得很开心，但我能看懂图表。狗狗币看起来不祥。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://mishtalk.com/economics/the-cryptocurrency-plunge-continues-whats-ahead\">Mish Talk</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://mishtalk.com/economics/the-cryptocurrency-plunge-continues-whats-ahead","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122516428","content_text":"In the past week cryptos have taken a hit. Let's look at price support levels for Bitcoin and Dogecoin.For Entertainment OnlyIn the past 7 days Internet Computer is down 56%, Polkadot 50%, Biance 48%, Ethereum 42%, Dogecoin 39%.I confess, I never heard of Polkadot or Internet Computer.It is only the spectacular action in Dogecoin that got me looking. I watch for entertainment only.Bitcoin Price Support LevelsFor those inclined to buy for technical reasons, Bitcoin has support at the $30,000 level. There is also support at the $17,000 level and very strong support at the $11,000 level.In addition, Bitcoin has minor support levels between $17,000 and $30,000.Dogecoin Price Support LevelsDogecoin has tiny technical support at $0.30 and more support at $0.24. Strong support for Dogecoin is down at a nickel.What's Ahead?I don't know and no one else does either.One could have made more in Dogecoin or Polkadot this year than Bitcoin.Whether that remains true in another month for those HODLing all year is another matter.Fundamentally SpeakingBitcoin was the first mover and has institutional support.Dogecoin has Elon's mouth.Regarding institutional support, Enron, JDSU, and Worldcom had that at one time too.Will any of them survive? I don't know, but Bitcoin is far more likely to survive than any of the rest of them.I have my doubts Dodgecoin will be worth more than a nickel by the end of the year. A nickel by next week would not surprise me in the least.Thus, I would far rather bet on Bitcoin than Dogecoin.Take all of that for what it's worth: Perhaps Nothing.I am watching in amusement from the sidelines, but I can read a chart. Dogecoin looks ominous.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":428,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":131365181,"gmtCreate":1621829133743,"gmtModify":1634186272079,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"Which platform allows us to buy Jap stock?","listText":"Which platform allows us to buy Jap stock?","text":"Which platform allows us to buy Jap stock?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/131365181","repostId":"1146753093","repostType":4,"isVote":1,"tweetType":1,"viewCount":397,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":133181760,"gmtCreate":1621727911650,"gmtModify":1634187006108,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/133181760","repostId":"2137909294","repostType":4,"isVote":1,"tweetType":1,"viewCount":823,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":139226962,"gmtCreate":1621639852056,"gmtModify":1634187545729,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"Maybe further correction?","listText":"Maybe further correction?","text":"Maybe further correction?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/139226962","repostId":"2137990425","repostType":4,"isVote":1,"tweetType":1,"viewCount":839,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130300267,"gmtCreate":1621509127859,"gmtModify":1634188576485,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582321146855651","authorIdStr":"3582321146855651"},"themes":[],"htmlText":"Really can buy?","listText":"Really can buy?","text":"Really can buy?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/130300267","repostId":"1106862234","repostType":4,"isVote":1,"tweetType":1,"viewCount":846,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":115011196,"gmtCreate":1622940656215,"gmtModify":1634096831765,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582321146855651","idStr":"3582321146855651"},"themes":[],"htmlText":"Ok&nbsp;","listText":"Ok&nbsp;","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/115011196","repostId":"1106312903","repostType":4,"repost":{"id":"1106312903","kind":"news","pubTimestamp":1622855773,"share":"https://www.laohu8.com/m/news/1106312903?lang=zh_CN&edition=full","pubTime":"2021-06-05 09:16","market":"us","language":"en","title":"U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106312903","media":"Renaissance Capital","summary":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental h","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</li><li>支付平台Marqeta计划以124亿美元的市值筹集10亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>马尔凯塔</b>(MQ)计划以124亿美元的市值筹集10亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta发展迅速，其客户包括Affirm(AFRM)和DoorDash(DASH)等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中文在线招聘平台<b>看准</b>(BZ)计划以82亿美元的市值筹集8.64亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，按月活跃用户数计算，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>生命健康</b>(LFST)计划以61亿美元的市值筹集6.4亿美元。LifeStance表示，截至2021年3月31日，它已经建立了美国最大的门诊心理健康平台之一，在27个州的73个MSA中雇用了3,300多名持牌心理健康临床医生。尽管2021年第一季度的息税前利润转为负值，但该公司仍实现了增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>周一网</b>(MNDY)计划以68亿美元的市值筹集4.9亿美元。monday.com允许组织轻松构建满足其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce和Zoom计划同时进行私募，总共投资1.5亿美元。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>塔斯库斯</b>(TASK)计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利强劲，增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA)计划以21亿美元的市值筹集2.5亿美元。该公司的Zeta营销平台使用身份数据通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta已实现盈利，为1,000多家客户提供服务，2020年提供约5亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>网上奢侈品市场<b>第一个</b>(DIBS)计划以7.73亿美元的市值筹集1.12亿美元。1stDibs连接复古、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020年，该市场有超过58,000名买家在过去一年中进行了购买，平均每年的总购买额超过5,500美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME)计划以19亿美元的市值筹集4300万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年占据32%的市场份额。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将有6家公司接受街头调查，多达11家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2011年6月3日，文艺复兴IPO指数今年迄今下跌6.0%，而标普500上涨11.6%。Renaissance Capital的IPO ETF（纽约证券交易所股票代码：IPO）跟踪该指数，持有最多的ETF包括Zoom Video（ZM）和优步（UBER）。Renaissance International IPO指数今年迄今下跌1.1%，而ACWX指数上涨10.5%。Renaissance Capital的国际IPO ETF（纽约证券交易所股票代码：IPOS）跟踪该指数，持有最多的ETF包括Nexi和EQT Partners。</blockquote></p><p></p>","source":"lsy1603787993745","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Renaissance Capital</strong><span class=\"h-time small\">2021-06-05 09:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</li><li>支付平台Marqeta计划以124亿美元的市值筹集10亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>马尔凯塔</b>(MQ)计划以124亿美元的市值筹集10亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta发展迅速，其客户包括Affirm(AFRM)和DoorDash(DASH)等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中文在线招聘平台<b>看准</b>(BZ)计划以82亿美元的市值筹集8.64亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，按月活跃用户数计算，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>生命健康</b>(LFST)计划以61亿美元的市值筹集6.4亿美元。LifeStance表示，截至2021年3月31日，它已经建立了美国最大的门诊心理健康平台之一，在27个州的73个MSA中雇用了3,300多名持牌心理健康临床医生。尽管2021年第一季度的息税前利润转为负值，但该公司仍实现了增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>周一网</b>(MNDY)计划以68亿美元的市值筹集4.9亿美元。monday.com允许组织轻松构建满足其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce和Zoom计划同时进行私募，总共投资1.5亿美元。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>塔斯库斯</b>(TASK)计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利强劲，增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA)计划以21亿美元的市值筹集2.5亿美元。该公司的Zeta营销平台使用身份数据通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta已实现盈利，为1,000多家客户提供服务，2020年提供约5亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>网上奢侈品市场<b>第一个</b>(DIBS)计划以7.73亿美元的市值筹集1.12亿美元。1stDibs连接复古、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020年，该市场有超过58,000名买家在过去一年中进行了购买，平均每年的总购买额超过5,500美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME)计划以19亿美元的市值筹集4300万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年占据32%的市场份额。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将有6家公司接受街头调查，多达11家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2011年6月3日，文艺复兴IPO指数今年迄今下跌6.0%，而标普500上涨11.6%。Renaissance Capital的IPO ETF（纽约证券交易所股票代码：IPO）跟踪该指数，持有最多的ETF包括Zoom Video（ZM）和优步（UBER）。Renaissance International IPO指数今年迄今下跌1.1%，而ACWX指数上涨10.5%。Renaissance Capital的国际IPO ETF（纽约证券交易所股票代码：IPOS）跟踪该指数，持有最多的ETF包括Nexi和EQT Partners。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div\">Renaissance Capital</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":{"MQ":"Marqeta, Inc.","LFST":"LifeStance Health Group, Inc.","ZME":"掌门教育","TASK":"TaskUs Inc.",".IXIC":"NASDAQ Composite",".DJI":"道琼斯","BZ":"BOSS直聘",".SPX":"S&P 500 Index","MNDY":"Monday.com Ltd.","DIBS":"1stdibs.com Inc.","ZETA":"Zeta Global Holdings Corp."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106312903","content_text":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.\nChinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.\nChinese online recruitment platform Kanzhun(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.\nMental health services provider LifeStance Health(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.\nIsrael’s monday.com(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.\nBPO vendor TaskUs(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.\nData-driven marketing platform Zeta Global(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.\nOnline luxury goods marketplace 1stDibs(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.\nChinese online tutoring platform Zhangmen Education(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.\n\nStreet research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.","news_type":1,"symbols_score_info":{"TASK":0.9,"ZETA":0.9,".SPX":0.9,"DIBS":0.9,"LFST":0.9,"MQ":0.9,".IXIC":0.9,"ZME":0.9,"MNDY":0.9,".DJI":0.9,"BZ":0.9}},"isVote":1,"tweetType":1,"viewCount":964,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191173551,"gmtCreate":1620866605773,"gmtModify":1634195783432,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582321146855651","idStr":"3582321146855651"},"themes":[],"htmlText":"Is a correction coming?","listText":"Is a correction coming?","text":"Is a correction coming?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/191173551","repostId":"2135584610","repostType":4,"isVote":1,"tweetType":1,"viewCount":333,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137894745,"gmtCreate":1622335075487,"gmtModify":1634102298945,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582321146855651","idStr":"3582321146855651"},"themes":[],"htmlText":"Umm...such news affect investors' confidence.","listText":"Umm...such news affect investors' confidence.","text":"Umm...such news affect investors' confidence.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/137894745","repostId":"2138765488","repostType":4,"isVote":1,"tweetType":1,"viewCount":1368,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139226962,"gmtCreate":1621639852056,"gmtModify":1634187545729,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582321146855651","idStr":"3582321146855651"},"themes":[],"htmlText":"Maybe further correction?","listText":"Maybe further correction?","text":"Maybe further correction?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/139226962","repostId":"2137990425","repostType":4,"isVote":1,"tweetType":1,"viewCount":839,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102973174,"gmtCreate":1620175290898,"gmtModify":1634207257303,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582321146855651","idStr":"3582321146855651"},"themes":[],"htmlText":"Rate hike ?","listText":"Rate hike ?","text":"Rate hike ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/102973174","repostId":"1140575890","repostType":4,"repost":{"id":"1140575890","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1620141444,"share":"https://www.laohu8.com/m/news/1140575890?lang=zh_CN&edition=full","pubTime":"2021-05-04 23:17","market":"us","language":"en","title":"Yellen says interest rates may have to rise somewhat to make sure economy doesn't overheat<blockquote>耶伦表示，利率可能必须有所上升，以确保经济不会过热</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1140575890","media":"Tiger Newspress","summary":"(May 4) Treasury Secretary Janet Yellen conceded Tuesday that interest rates may have to rise to kee","content":"<p>(May 4)&nbsp;Treasury Secretary Janet Yellen conceded Tuesday that interest rates may have to rise to keep a lid on the burgeoning growth of the U.S. economy brought on by trillions in government stimulus spending.</p><p><blockquote>（5月4日）美国财政部长珍妮特·耶伦（Janet Yellen）周二承认，利率可能必须上升，以抑制数万亿政府刺激支出带来的美国经济快速增长。</blockquote></p><p>\"It may be that interest rates will have to rise somewhat to make sure that our economy doesn't overheat,\" Yellen said during a economic seminar presented by Th Atlantic. \"Even though additional spending is relatively small to the size of the economy, it could causae some very modest increases in interest rates.\"</p><p><blockquote>耶伦在Th Atlantic举办的经济研讨会上表示：“利率可能必须有所上升，以确保我们的经济不会过热。”“尽管额外支出相对于经济规模来说相对较小，但它可能会导致利率出现一些非常温和的上涨。”</blockquote></p><p>\"But these are investments our economy needs to be competitive and productive,\" she added.</p><p><blockquote>“但这些都是我们的经济保持竞争力和生产力所需的投资，”她补充道。</blockquote></p><p>Nasdaq fell&nbsp;over 2%&nbsp;for&nbsp;now.</p><p><blockquote>纳斯达克目前跌幅超过2%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/de3525661b3a7db28a0797ab745db67b\" tg-width=\"629\" tg-height=\"479\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ec61efef423e545861c0ca0126af9332\" tg-width=\"1866\" tg-height=\"894\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Yellen says interest rates may have to rise somewhat to make sure economy doesn't overheat<blockquote>耶伦表示，利率可能必须有所上升，以确保经济不会过热</blockquote></title>\n<style 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}\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\">\nYellen says interest rates may have to rise somewhat to make sure economy doesn't overheat<blockquote>耶伦表示，利率可能必须有所上升，以确保经济不会过热</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-04 23:17</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(May 4)&nbsp;Treasury Secretary Janet Yellen conceded Tuesday that interest rates may have to rise to keep a lid on the burgeoning growth of the U.S. economy brought on by trillions in government stimulus spending.</p><p><blockquote>（5月4日）美国财政部长珍妮特·耶伦（Janet Yellen）周二承认，利率可能必须上升，以抑制数万亿政府刺激支出带来的美国经济快速增长。</blockquote></p><p>\"It may be that interest rates will have to rise somewhat to make sure that our economy doesn't overheat,\" Yellen said during a economic seminar presented by Th Atlantic. \"Even though additional spending is relatively small to the size of the economy, it could causae some very modest increases in interest rates.\"</p><p><blockquote>耶伦在Th Atlantic举办的经济研讨会上表示：“利率可能必须有所上升，以确保我们的经济不会过热。”“尽管额外支出相对于经济规模来说相对较小，但它可能会导致利率出现一些非常温和的上涨。”</blockquote></p><p>\"But these are investments our economy needs to be competitive and productive,\" she added.</p><p><blockquote>“但这些都是我们的经济保持竞争力和生产力所需的投资，”她补充道。</blockquote></p><p>Nasdaq fell&nbsp;over 2%&nbsp;for&nbsp;now.</p><p><blockquote>纳斯达克目前跌幅超过2%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/de3525661b3a7db28a0797ab745db67b\" tg-width=\"629\" tg-height=\"479\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ec61efef423e545861c0ca0126af9332\" tg-width=\"1866\" tg-height=\"894\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140575890","content_text":"(May 4) Treasury Secretary Janet Yellen conceded Tuesday that interest rates may have to rise to keep a lid on the burgeoning growth of the U.S. economy brought on by trillions in government stimulus spending.\"It may be that interest rates will have to rise somewhat to make sure that our economy doesn't overheat,\" Yellen said during a economic seminar presented by Th Atlantic. \"Even though additional spending is relatively small to the size of the economy, it could causae some very modest increases in interest rates.\"\"But these are investments our economy needs to be competitive and productive,\" she added.Nasdaq fell over 2% for now.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137896691,"gmtCreate":1622334913813,"gmtModify":1634102302021,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582321146855651","idStr":"3582321146855651"},"themes":[],"htmlText":"Good to know","listText":"Good to know","text":"Good to know","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/137896691","repostId":"1159760711","repostType":4,"repost":{"id":"1159760711","kind":"news","pubTimestamp":1622210255,"share":"https://www.laohu8.com/m/news/1159760711?lang=zh_CN&edition=full","pubTime":"2021-05-28 21:57","market":"us","language":"en","title":"Credit Suisse Cuts Ties With SoftBank After Greensill Crisis<blockquote>格林希尔危机后瑞士信贷切断与软银的联系</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159760711","media":"Bloomberg","summary":"(Bloomberg) -- Credit Suisse Group AG is cutting ties with SoftBank Group Corp., distancing itself f","content":"<p>(Bloomberg) -- Credit Suisse Group AG is cutting ties with SoftBank Group Corp., distancing itself from a key backer to Lex Greensill’s collapsed supply-chain finance empire after conflict of interest allegations.</p><p><blockquote>（彭博社）-瑞士信贷集团正在切断与软银集团的联系，与莱克斯·格林希尔(Lex Greensill)因利益冲突指控而崩溃的供应链金融帝国的主要支持者保持距离。</blockquote></p><p>The Swiss lender will no longer do any new business with the Japanese firm, people with knowledge of situation said, asking not to be identified because the matter is private. The decision may ripple across Credit Suisse’s investment bank: SoftBank has been a prolific deal-maker and last year Credit Suisse and other banks held about $8 billion of SoftBank shares in collateral, pledged by founder Masayoshi Son.</p><p><blockquote>知情人士表示，这家瑞士银行将不再与这家日本公司开展任何新业务。由于此事属于私人性质，因此要求匿名。这一决定可能会波及瑞士信贷的投资银行：软银一直是一个多产的交易撮合者，去年瑞士信贷和其他银行持有约80亿美元的软银股票作为抵押品，由创始人孙正义质押。</blockquote></p><p>It is unclear how long the ban lasts for, or whether it impacts any ongoing deals.</p><p><blockquote>目前尚不清楚该禁令将持续多久，也不清楚它是否会影响任何正在进行的交易。</blockquote></p><p>Credit Suisse is reviewing its risk and client relationships after being hit by the twin collapses of Greensill and Archegos Capital Management. New Chairman Antonio-Horta Osorio has pledged a wide-ranging review after the bank was forced to suspend billions of dollars of funds it managed with Greensill and took a $5.5 billion hit on Archegos, raising questions about the oversight of key clients.</p><p><blockquote>在遭受Greensill和Archegos Capital Management双重倒闭的打击后，瑞士信贷正在审查其风险和客户关系。新任董事长安东尼奥-奥尔塔·奥索里奥(Antonio-Horta Osorio)承诺进行广泛审查，此前该银行被迫暂停与Greensill管理的数十亿美元资金，并对Archegos遭受了55亿美元的打击，引发了人们对关键客户监管的质疑。</blockquote></p><p>A Tokyo-based spokesperson at SoftBank Group wasn’t immediately available to comment, while Credit Suisse declined to comment.</p><p><blockquote>软银集团驻东京发言人未能立即置评，而瑞士信贷则拒绝置评。</blockquote></p><p>Credit Suisse conducted an internal review into the Greensill funds after allegations of possible conflicts of interest involving SoftBank last year. A number of SoftBank portfolio companies received loans via supply-chain funds at Credit Suisse, while SoftBank was also an investor in the Credit Suisse funds. In the aftermath, SoftBank pulled $700 million out of the funds and the bank also changed its investment guidelines for Credit Suisse’s funds to reduce the maximum exposure to a single borrower.</p><p><blockquote>去年，在软银被指控可能存在利益冲突后，瑞士信贷对Greensill基金进行了内部审查。软银的许多投资组合公司通过瑞士信贷的供应链基金获得贷款，而软银也是瑞士信贷基金的投资者。随后，软银从这些基金中撤出了7亿美元，该银行还改变了对瑞士信贷基金的投资准则，以减少对单一借款人的最大敞口。</blockquote></p><p>Credit Suisse Overhauls Rules for Funds Accused of Conflicts</p><p><blockquote>瑞士信贷彻底改革被指控存在冲突的基金规则</blockquote></p><p>The overlapping financial relationships had raised questions whether SoftBank was using the Credit Suisse funds to prop up investments in the Vision Fund, including Greensill Capital, in which it had a substantial stake.</p><p><blockquote>重叠的财务关系引发了人们的疑问，即软银是否在利用瑞士信贷的资金来支持对愿景基金的投资，包括其持有大量股份的Greensill Capital。</blockquote></p><p>SoftBank wrote down its $1.5 billion holding of Greensill to close to zero after Credit Suisse was forced to wind down its four Greensill-linked funds in March, people familiar with the matter earlier said. SoftBank is now seeking $1.15 billion in claims as part of Greensill’s insolvency proceedings.</p><p><blockquote>知情人士早些时候表示，在瑞士信贷3月份被迫清盘其四只与Greensill相关的基金后，软银将其持有的15亿美元Greensill减记至接近于零。作为Greensill破产程序的一部分，软银目前正在寻求11.5亿美元的索赔。</blockquote></p><p>Credit Suisse marketed its popular supply-chain finance funds as among the safest investments it offered, because the loans they held were backed by invoices usually paid in weeks and the funds were insured. But as the funds grew into a $10 billion strategy, they strayed from that pitch and much of the money was lent through Greensill against expected future invoices, for sales that were merely predicted. The firm’s collapse forced Credit Suisse to liquidate the funds, and investors finally payment is still uncertain.</p><p><blockquote>瑞士信贷将其广受欢迎的供应链金融基金宣传为其提供的最安全的投资之一，因为它们持有的贷款有发票支持，通常在几周内支付，而且资金也有保险。但随着这些基金发展成为100亿美元的战略，他们偏离了这一目标，大部分资金是通过Greensill根据预期的未来发票借出的，用于仅仅是预测的销售。该公司的倒闭迫使瑞士信贷清算资金，投资者最终的付款仍不确定。</blockquote></p><p></p>","source":"lsy1612507957220","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>Credit Suisse Cuts Ties With SoftBank After Greensill Crisis<blockquote>格林希尔危机后瑞士信贷切断与软银的联系</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\">\nCredit Suisse Cuts Ties With SoftBank After Greensill Crisis<blockquote>格林希尔危机后瑞士信贷切断与软银的联系</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-05-28 21:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- Credit Suisse Group AG is cutting ties with SoftBank Group Corp., distancing itself from a key backer to Lex Greensill’s collapsed supply-chain finance empire after conflict of interest allegations.</p><p><blockquote>（彭博社）-瑞士信贷集团正在切断与软银集团的联系，与莱克斯·格林希尔(Lex Greensill)因利益冲突指控而崩溃的供应链金融帝国的主要支持者保持距离。</blockquote></p><p>The Swiss lender will no longer do any new business with the Japanese firm, people with knowledge of situation said, asking not to be identified because the matter is private. The decision may ripple across Credit Suisse’s investment bank: SoftBank has been a prolific deal-maker and last year Credit Suisse and other banks held about $8 billion of SoftBank shares in collateral, pledged by founder Masayoshi Son.</p><p><blockquote>知情人士表示，这家瑞士银行将不再与这家日本公司开展任何新业务。由于此事属于私人性质，因此要求匿名。这一决定可能会波及瑞士信贷的投资银行：软银一直是一个多产的交易撮合者，去年瑞士信贷和其他银行持有约80亿美元的软银股票作为抵押品，由创始人孙正义质押。</blockquote></p><p>It is unclear how long the ban lasts for, or whether it impacts any ongoing deals.</p><p><blockquote>目前尚不清楚该禁令将持续多久，也不清楚它是否会影响任何正在进行的交易。</blockquote></p><p>Credit Suisse is reviewing its risk and client relationships after being hit by the twin collapses of Greensill and Archegos Capital Management. New Chairman Antonio-Horta Osorio has pledged a wide-ranging review after the bank was forced to suspend billions of dollars of funds it managed with Greensill and took a $5.5 billion hit on Archegos, raising questions about the oversight of key clients.</p><p><blockquote>在遭受Greensill和Archegos Capital Management双重倒闭的打击后，瑞士信贷正在审查其风险和客户关系。新任董事长安东尼奥-奥尔塔·奥索里奥(Antonio-Horta Osorio)承诺进行广泛审查，此前该银行被迫暂停与Greensill管理的数十亿美元资金，并对Archegos遭受了55亿美元的打击，引发了人们对关键客户监管的质疑。</blockquote></p><p>A Tokyo-based spokesperson at SoftBank Group wasn’t immediately available to comment, while Credit Suisse declined to comment.</p><p><blockquote>软银集团驻东京发言人未能立即置评，而瑞士信贷则拒绝置评。</blockquote></p><p>Credit Suisse conducted an internal review into the Greensill funds after allegations of possible conflicts of interest involving SoftBank last year. A number of SoftBank portfolio companies received loans via supply-chain funds at Credit Suisse, while SoftBank was also an investor in the Credit Suisse funds. In the aftermath, SoftBank pulled $700 million out of the funds and the bank also changed its investment guidelines for Credit Suisse’s funds to reduce the maximum exposure to a single borrower.</p><p><blockquote>去年，在软银被指控可能存在利益冲突后，瑞士信贷对Greensill基金进行了内部审查。软银的许多投资组合公司通过瑞士信贷的供应链基金获得贷款，而软银也是瑞士信贷基金的投资者。随后，软银从这些基金中撤出了7亿美元，该银行还改变了对瑞士信贷基金的投资准则，以减少对单一借款人的最大敞口。</blockquote></p><p>Credit Suisse Overhauls Rules for Funds Accused of Conflicts</p><p><blockquote>瑞士信贷彻底改革被指控存在冲突的基金规则</blockquote></p><p>The overlapping financial relationships had raised questions whether SoftBank was using the Credit Suisse funds to prop up investments in the Vision Fund, including Greensill Capital, in which it had a substantial stake.</p><p><blockquote>重叠的财务关系引发了人们的疑问，即软银是否在利用瑞士信贷的资金来支持对愿景基金的投资，包括其持有大量股份的Greensill Capital。</blockquote></p><p>SoftBank wrote down its $1.5 billion holding of Greensill to close to zero after Credit Suisse was forced to wind down its four Greensill-linked funds in March, people familiar with the matter earlier said. SoftBank is now seeking $1.15 billion in claims as part of Greensill’s insolvency proceedings.</p><p><blockquote>知情人士早些时候表示，在瑞士信贷3月份被迫清盘其四只与Greensill相关的基金后，软银将其持有的15亿美元Greensill减记至接近于零。作为Greensill破产程序的一部分，软银目前正在寻求11.5亿美元的索赔。</blockquote></p><p>Credit Suisse marketed its popular supply-chain finance funds as among the safest investments it offered, because the loans they held were backed by invoices usually paid in weeks and the funds were insured. But as the funds grew into a $10 billion strategy, they strayed from that pitch and much of the money was lent through Greensill against expected future invoices, for sales that were merely predicted. The firm’s collapse forced Credit Suisse to liquidate the funds, and investors finally payment is still uncertain.</p><p><blockquote>瑞士信贷将其广受欢迎的供应链金融基金宣传为其提供的最安全的投资之一，因为它们持有的贷款有发票支持，通常在几周内支付，而且资金也有保险。但随着这些基金发展成为100亿美元的战略，他们偏离了这一目标，大部分资金是通过Greensill根据预期的未来发票借出的，用于仅仅是预测的销售。该公司的倒闭迫使瑞士信贷清算资金，投资者最终的付款仍不确定。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/credit-suisse-cuts-ties-softbank-132036883.html\">Bloomberg</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/credit-suisse-cuts-ties-softbank-132036883.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159760711","content_text":"(Bloomberg) -- Credit Suisse Group AG is cutting ties with SoftBank Group Corp., distancing itself from a key backer to Lex Greensill’s collapsed supply-chain finance empire after conflict of interest allegations.The Swiss lender will no longer do any new business with the Japanese firm, people with knowledge of situation said, asking not to be identified because the matter is private. The decision may ripple across Credit Suisse’s investment bank: SoftBank has been a prolific deal-maker and last year Credit Suisse and other banks held about $8 billion of SoftBank shares in collateral, pledged by founder Masayoshi Son.It is unclear how long the ban lasts for, or whether it impacts any ongoing deals.Credit Suisse is reviewing its risk and client relationships after being hit by the twin collapses of Greensill and Archegos Capital Management. New Chairman Antonio-Horta Osorio has pledged a wide-ranging review after the bank was forced to suspend billions of dollars of funds it managed with Greensill and took a $5.5 billion hit on Archegos, raising questions about the oversight of key clients.A Tokyo-based spokesperson at SoftBank Group wasn’t immediately available to comment, while Credit Suisse declined to comment.Credit Suisse conducted an internal review into the Greensill funds after allegations of possible conflicts of interest involving SoftBank last year. A number of SoftBank portfolio companies received loans via supply-chain funds at Credit Suisse, while SoftBank was also an investor in the Credit Suisse funds. In the aftermath, SoftBank pulled $700 million out of the funds and the bank also changed its investment guidelines for Credit Suisse’s funds to reduce the maximum exposure to a single borrower.Credit Suisse Overhauls Rules for Funds Accused of ConflictsThe overlapping financial relationships had raised questions whether SoftBank was using the Credit Suisse funds to prop up investments in the Vision Fund, including Greensill Capital, in which it had a substantial stake.SoftBank wrote down its $1.5 billion holding of Greensill to close to zero after Credit Suisse was forced to wind down its four Greensill-linked funds in March, people familiar with the matter earlier said. SoftBank is now seeking $1.15 billion in claims as part of Greensill’s insolvency proceedings.Credit Suisse marketed its popular supply-chain finance funds as among the safest investments it offered, because the loans they held were backed by invoices usually paid in weeks and the funds were insured. But as the funds grew into a $10 billion strategy, they strayed from that pitch and much of the money was lent through Greensill against expected future invoices, for sales that were merely predicted. The firm’s collapse forced Credit Suisse to liquidate the funds, and investors finally payment is still uncertain.","news_type":1,"symbols_score_info":{"CS":0.9}},"isVote":1,"tweetType":1,"viewCount":563,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115479528,"gmtCreate":1623028879364,"gmtModify":1634096117585,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582321146855651","idStr":"3582321146855651"},"themes":[],"htmlText":"Corn and corn oil price will move up?","listText":"Corn and corn oil price will move up?","text":"Corn and corn oil price will move up?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/115479528","repostId":"2141284552","repostType":4,"isVote":1,"tweetType":1,"viewCount":1034,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135615898,"gmtCreate":1622160994514,"gmtModify":1634183332803,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582321146855651","idStr":"3582321146855651"},"themes":[],"htmlText":"Market seems toppish...","listText":"Market seems toppish...","text":"Market seems toppish...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/135615898","repostId":"2138179881","repostType":4,"isVote":1,"tweetType":1,"viewCount":416,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":192853666,"gmtCreate":1621181433255,"gmtModify":1634193554686,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582321146855651","idStr":"3582321146855651"},"themes":[],"htmlText":"Really?","listText":"Really?","text":"Really?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/192853666","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; 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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":{"ABNB":"爱彼迎","DIS":"迪士尼","DASH":"DoorDash, Inc."},"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":{"DASH":0.9,"DIS":0.9,"ABNB":0.9}},"isVote":1,"tweetType":1,"viewCount":551,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186794331,"gmtCreate":1623540857423,"gmtModify":1634032101451,"author":{"id":"3582321146855651","authorId":"3582321146855651","name":"7ea09981","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3582321146855651","idStr":"3582321146855651"},"themes":[],"htmlText":"Can buy ?","listText":"Can buy ?","text":"Can buy ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/186794331","repostId":"1148565686","repostType":4,"isVote":1,"tweetType":1,"viewCount":1341,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}