这一轮熊市不一般：美股的传统对冲工具都失效了？

华尔街见闻2022-06-25

有分析称，对冲工具不再奏效主要因为市场对加息预期的反复变化，“抛售趋势经常被反弹走势所打断”。在美联储激进加息和经济衰退担忧的影响下，标普500指数从年初高点暴跌超20%后陷入熊市。但是，美国周四PMI数据给美联储加息泼了一盆冷水，市场对加息预期显著降温，使得标普500指数本周创两年来最大涨幅。由于近期投资者对加息预期的反复变化，过去在美股大跌中起作用的传统对冲工具如今都失灵了。一般而言，投资者...

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不死鸟.
2022-06-26
不死鸟.
ok
Lydia26
2022-06-26
Lydia26
SAD.😇😇😇
幸福满天飞
2022-06-26
幸福满天飞
[微笑]
chang168
2022-06-25
chang168
Up

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Flahive）表示：我们正处于一个不寻常的时代，传统对冲工具失效的原因之一是利率正在被操纵，我们在上半年所经历的正是这一段（利率）调整期和这种变化所产生的摩擦（反复）。美股对冲工具为何不再奏效？有分析认为，这些对冲工具此番意外失效是因为“抛售趋势经常被反弹走势所打断”。这种反趋势反弹减缓了美股整体低迷的步伐，这使得投资者从价外看跌期权中获得利润变得更难。高盛策略师洛基·菲什曼（Rocky 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