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ZuZhou
ZuZhou
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2024-08-03
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ZuZhou
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2024-08-03
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@大鱼海棠_4922:
$納指三倍做多ETF(TQQQ)$ 這貨要跌倒什麼時候?
$納指三倍做多ETF(TQQQ)$ 這貨要跌倒什麼時候?
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ZuZhou
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2023-03-11
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U.S. regulators go to Silicon Valley Bank to assess its financials
美国监管机构派出大量人员突击视察硅谷银行,以评估其资产状况。3月11日,据知情人士透露,美国监管机构已抵达SVB金融集团(SVB Financial Group)加州办公室,目前这家陷入困境的银行正竭
U.S. regulators go to Silicon Valley Bank to assess its financials
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ZuZhou
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2023-03-04
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Where did the trillions of dollars in liquidity that drove global stock markets up this year come from?
在全球范围内,流动性实际上在最近几个月有所增加。
Where did the trillions of dollars in liquidity that drove global stock markets up this year come from?
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ZuZhou
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2023-02-27
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Sorry, this post has been deleted
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ZuZhou
ZuZhou
·
2023-01-16
h
@0DTE Trading Academy:
0-DTE What Do We Trade and Why?
0-DTE What Do We Trade and Why?
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ZuZhou
ZuZhou
·
2023-01-12
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@首席消费官:
飛豬發佈春節出遊風向標:預訂量增長超6成、平均客單價提升超7成飛豬發佈的《2023年春節出遊風向標》顯示,截至目前,2023年春節出遊預訂量同比去年增長超6成。中長線遊需求持續恢復,跨省遊訂單佔比已超8成,出境遊預訂量創下近3年峯值。春節期間相關旅遊商品平均客單價同比提升超7成。(財聯社)
飛豬發佈春節出遊風向標:預訂量增長超6成、平均客單價提升超7成飛豬發佈的《2023年春節出遊風向標》顯示,截至目前,2023年春節出遊預訂量同比去年增長超6成。中長線遊需求持續恢復,跨省遊訂單佔比已超8成,出境遊預訂量創下近3年峯值。春節期間相關旅遊商品平均客單價同比提升超7成。(財聯社)
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ZuZhou
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2023-01-12
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ZuZhou
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2023-01-11
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2023-01-11
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這貨要跌倒什麼時候?","images":[{"img":"https://static.tigerbbs.com/d664bbc99c589aafc3483d2779c19758","width":"1092","height":"1717"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/333997615735056","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":4821,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9949830302,"gmtCreate":1678471000306,"gmtModify":1678471003321,"author":{"id":"4091249058205370","authorId":"4091249058205370","name":"ZuZhou","avatar":"https://static.tigerbbs.com/a7c7301cb7e6f6dd4c0dd101a837bab3","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4091249058205370","idStr":"4091249058205370"},"themes":[],"title":"","htmlText":"h","listText":"h","text":"h","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9949830302","repostId":"1128814797","repostType":4,"repost":{"id":"1128814797","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1678465131,"share":"https://ttm.financial/m/news/1128814797?lang=en_US&edition=fundamental","pubTime":"2023-03-11 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Silicon Valley Bank has played a key role in Silicon Valley start-ups for years. The arrival of regulators does not mean that officials will take further action or that the bank will not be able to cope with the situation alone.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. regulators go to Silicon Valley Bank to assess its financials</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. regulators go to Silicon Valley Bank to assess its financials\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2023-03-11 00:18</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>U.S. regulators have raided Silicon Valley Bank in large numbers to assess the condition of its assets.</b>On March 11, U.S. regulators arrived at the California office of SVB Financial Group as the struggling bank struggles to stabilize its finances, according to people familiar with the matter.</p><p>Regulators at the Federal Deposit Insurance Corp. and the Federal Reserve are investigating the impact of large withdrawals on the bank.</p><p>Officials at those offices sought to learn more about the bank's woes, people familiar with the matter said. Silicon Valley Bank has played a key role in Silicon Valley start-ups for years. The arrival of regulators does not mean that officials will take further action or that the bank will not be able to cope with the situation alone.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a4ac7a6ebd455cb354600f2c4dcef71e","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128814797","content_text":"美国监管机构派出大量人员突击视察硅谷银行,以评估其资产状况。3月11日,据知情人士透露,美国监管机构已抵达SVB金融集团(SVB Financial Group)加州办公室,目前这家陷入困境的银行正竭力稳定其财务状况。美国联邦存款保险公司(Federal Deposit Insurance Corp.)和美联储(Federal Reserve)的监管机构正在该行调查大额提款对该行所带来的影响。知情人士称,这些办公室的官员寻求对该银行的困境有更多了解。硅谷银行多年来一直在硅谷初创企业中扮演着关键角色。监管机构的到来并不意味着官员们将采取进一步行动,也不意味着该银行将无法独自应对这种情况。","news_type":1,"symbols_score_info":{"SIVB":0.9}},"isVote":1,"tweetType":1,"viewCount":6344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9940295069,"gmtCreate":1677920948551,"gmtModify":1677920952276,"author":{"id":"4091249058205370","authorId":"4091249058205370","name":"ZuZhou","avatar":"https://static.tigerbbs.com/a7c7301cb7e6f6dd4c0dd101a837bab3","crmLevel":11,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"4091249058205370","idStr":"4091249058205370"},"themes":[],"title":"","htmlText":"H","listText":"H","text":"H","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940295069","repostId":"2316732529","repostType":4,"repost":{"id":"2316732529","kind":"highlight","weMediaInfo":{"introduction":"中国最具影响力的财经新闻媒体《财经》携手道琼斯媒体集团,引入百年历史的《巴伦》(Barron's)独家内容,打造涵盖全球金融信息、市场动态、行业分析、公司研究及理财顾问评估的全球投资平台。","home_visible":1,"media_name":"Barrons巴伦","id":"1063202233","head_image":"https://static.tigerbbs.com/dd0fd02e1b0644cdbe57505e702dacab"},"pubTimestamp":1677919837,"share":"https://ttm.financial/m/news/2316732529?lang=en_US&edition=fundamental","pubTime":"2023-03-04 16:50","market":"fut","language":"zh","title":"Where did the trillions of dollars in liquidity that drove global stock markets up this year come from?","url":"https://stock-news.laohu8.com/highlight/detail?id=2316732529","media":"Barrons巴伦","summary":"在全球范围内,流动性实际上在最近几个月有所增加。","content":"<p><html><head></head><body>Globally, liquidity has actually increased in recent months.</p><p>The recent rally in global stock markets has left many Wall Street investors somewhat confused, as stocks—especially high-risk growth stocks with little to no profit—have withstood the pull of more attractive bond yields and the threat of rate hike, rebounding strongly from last year's sharp sell-off.</p><p>But some Wall Street analysts say they have found an explanation unrelated to inflation and the state of the global economy.</p><p>The answer is:<b>Although the Federal Reserve, the European Central Bank, and the Bank of England have declared that they are trying to drain the overflowing liquidity from the banking system, liquidity has actually increased globally in recent months.</b>This is partly due to factors beyond the control of policymakers.</p><p><img src=\"https://static.tigerbbs.com/3e13af78ee0eaa0c77a2504ff630537f\" tg-width=\"820\" tg-height=\"506\" referrerpolicy=\"no-referrer\"/></p><p><b>Trillion-dollar asset price increases</b></p><p>In a research report shared with clients last month, Matt King, global market strategist at Citigroup, detailed how the world's major central banks recently injected $1 trillion into the global financial system.</p><p>According to Jin's analysis, most of this growth came from the People's Bank of China, which bucked the global trend of monetary tightening by choosing to inject liquidity directly into its banking system, accounting for the majority of the $1 trillion figure.</p><p>“Despite central banks telling us they would tighten monetary policy, it turns out that globally, they have just added $1 trillion worth of liquidity in the past three months,” King said.</p><p>In his report, King stated that he concluded that changes in fundamentals (i.e., changes in the outlook for economic growth and inflation) could not explain volatility in global markets, including the rebound in global stock markets, which inspired him to take a closer look at central bank balance sheets.</p><p>When he finally compared global stock market trends with changing trends in global central bank liquidity, he found it to be an almost perfect match.</p><p>The image below tracks...<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>The performance of the Capital International Global Index 990100, which reflects the fluctuations in liquidity in the banking system. According to FactSet, the index has risen 12% since the end of September. Around the same time, global central bank liquidity stopped declining and began to expand again.</p><p><img src=\"https://static.tigerbbs.com/60b843c8ea2e4ae086e1e0ae27d671d5\" tg-width=\"1080\" tg-height=\"858\" referrerpolicy=\"no-referrer\"/></p><p>But Michael Howell, another London-based strategist and managing director of CrossBorder Capital, a macro consultancy, said that even the Federal Reserve is exacerbating the liquidity glut in a more passive way.</p><p>For more than a year, the Federal Reserve has been touting its plan to \"tighten\" liquidity in the U.S. financial system by raising interest rates and reducing bond holdings, by choosing not to reinvest the proceeds of maturing bonds.</p><p>According to data from the Federal Reserve Bank of St. Louis, although the Federal Reserve has reduced its bond holdings by about $500 billion since last spring, another important component of its balance sheet—the U.S. banking system's reserves—does not appear to have grown.</p><p>According to the latest weekly data released by the Federal Reserve, as of February 22, the reserve balance of Fed banks was $3.01 trillion, a slight increase from $2.9 trillion at the end of September.</p><p>Howell stated: \"The Federal Reserve is reportedly stripping its balance sheet, but bank reserves have not decreased.\"</p><p>He stated that this could also help support stock prices, as the amount of money injected into the financial system by U.S. banks has expanded rather than contracted.</p><p><b>The stock market began to decline</b></p><p>To be sure, U.S. stocks have retreated in recent weeks. According to FactSet data, the Nasdaq Composite Index rose 0.73% in January, marking its best start in 20 years.</p><p>The stock market stopped climbing, which may be a sign of another decline in global liquidity. Whether the Federal Reserve will intervene again to save the market remains to be seen.</p><p>However, ultimately, stock valuations may be affected as a result. Howell and his team believe that the Federal Reserve may need to raise interest rates more significantly to compensate for its reluctance to further reduce the banking system's reserves.</p><p>After several weeks of rebound, U.S. stocks also appear to be feeling the impact of rising bond yields. The Nasdaq Composite, S&P 500, and Dow Jones Industrial Average all declined in February. On Thursday, as the 10-year U.S. Treasury Bond yield broke through 4%, their performance was mixed, with bond yields moving in the opposite direction to stock prices.</p><p></body></html></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>Where did the trillions of dollars in liquidity that drove global stock markets up this year come from?</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\">\nWhere did the trillions of dollars in liquidity that drove global stock markets up this year come from?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1063202233\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/dd0fd02e1b0644cdbe57505e702dacab);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Barrons巴伦 </p>\n<p class=\"h-time smaller\">2023-03-04 16:50</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Globally, liquidity has actually increased in recent months.</p><p>The recent rally in global stock markets has left many Wall Street investors somewhat confused, as stocks—especially high-risk growth stocks with little to no profit—have withstood the pull of more attractive bond yields and the threat of rate hike, rebounding strongly from last year's sharp sell-off.</p><p>But some Wall Street analysts say they have found an explanation unrelated to inflation and the state of the global economy.</p><p>The answer is:<b>Although the Federal Reserve, the European Central Bank, and the Bank of England have declared that they are trying to drain the overflowing liquidity from the banking system, liquidity has actually increased globally in recent months.</b>This is partly due to factors beyond the control of policymakers.</p><p><img src=\"https://static.tigerbbs.com/3e13af78ee0eaa0c77a2504ff630537f\" tg-width=\"820\" tg-height=\"506\" referrerpolicy=\"no-referrer\"/></p><p><b>Trillion-dollar asset price increases</b></p><p>In a research report shared with clients last month, Matt King, global market strategist at Citigroup, detailed how the world's major central banks recently injected $1 trillion into the global financial system.</p><p>According to Jin's analysis, most of this growth came from the People's Bank of China, which bucked the global trend of monetary tightening by choosing to inject liquidity directly into its banking system, accounting for the majority of the $1 trillion figure.</p><p>“Despite central banks telling us they would tighten monetary policy, it turns out that globally, they have just added $1 trillion worth of liquidity in the past three months,” King said.</p><p>In his report, King stated that he concluded that changes in fundamentals (i.e., changes in the outlook for economic growth and inflation) could not explain volatility in global markets, including the rebound in global stock markets, which inspired him to take a closer look at central bank balance sheets.</p><p>When he finally compared global stock market trends with changing trends in global central bank liquidity, he found it to be an almost perfect match.</p><p>The image below tracks...<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>The performance of the Capital International Global Index 990100, which reflects the fluctuations in liquidity in the banking system. According to FactSet, the index has risen 12% since the end of September. Around the same time, global central bank liquidity stopped declining and began to expand again.</p><p><img src=\"https://static.tigerbbs.com/60b843c8ea2e4ae086e1e0ae27d671d5\" tg-width=\"1080\" tg-height=\"858\" referrerpolicy=\"no-referrer\"/></p><p>But Michael Howell, another London-based strategist and managing director of CrossBorder Capital, a macro consultancy, said that even the Federal Reserve is exacerbating the liquidity glut in a more passive way.</p><p>For more than a year, the Federal Reserve has been touting its plan to \"tighten\" liquidity in the U.S. financial system by raising interest rates and reducing bond holdings, by choosing not to reinvest the proceeds of maturing bonds.</p><p>According to data from the Federal Reserve Bank of St. Louis, although the Federal Reserve has reduced its bond holdings by about $500 billion since last spring, another important component of its balance sheet—the U.S. banking system's reserves—does not appear to have grown.</p><p>According to the latest weekly data released by the Federal Reserve, as of February 22, the reserve balance of Fed banks was $3.01 trillion, a slight increase from $2.9 trillion at the end of September.</p><p>Howell stated: \"The Federal Reserve is reportedly stripping its balance sheet, but bank reserves have not decreased.\"</p><p>He stated that this could also help support stock prices, as the amount of money injected into the financial system by U.S. banks has expanded rather than contracted.</p><p><b>The stock market began to decline</b></p><p>To be sure, U.S. stocks have retreated in recent weeks. According to FactSet data, the Nasdaq Composite Index rose 0.73% in January, marking its best start in 20 years.</p><p>The stock market stopped climbing, which may be a sign of another decline in global liquidity. Whether the Federal Reserve will intervene again to save the market remains to be seen.</p><p>However, ultimately, stock valuations may be affected as a result. Howell and his team believe that the Federal Reserve may need to raise interest rates more significantly to compensate for its reluctance to further reduce the banking system's reserves.</p><p>After several weeks of rebound, U.S. stocks also appear to be feeling the impact of rising bond yields. The Nasdaq Composite, S&P 500, and Dow Jones Industrial Average all declined in February. On Thursday, as the 10-year U.S. Treasury Bond yield broke through 4%, their performance was mixed, with bond yields moving in the opposite direction to stock prices.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5eb1600a275cdb440167b676a1a207e1","relate_stocks":{},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2316732529","content_text":"在全球范围内,流动性实际上在最近几个月有所增加。全球股市近期的上涨令许多华尔街投资者感到有些困惑,因为股市——尤其是那些几乎没有盈利的高风险成长型股票——抵御住了更具吸引力的债券收益率的拉动,以及加息的威胁,从去年的大幅抛售中强劲反弹。但一些华尔街分析师表示,他们找到了一种与通胀和全球经济状况无关的解释。答案就是:尽管美联储、欧洲中央银行和英格兰银行已经宣称他们正在试图抽干银行系统泛滥的流动性,但在全球范围内,流动性实际上在最近几个月有所增加。这在一定程度上是由于政策制定者无法控制的因素造成的。万亿美元级别的资产价格上涨在上个月与客户分享的一份研究报告中,花旗集团(Citigroup)全球市场策略师马特·金(Matt King)详细描述了世界各大央行最近如何向全球金融体系注入1万亿美元。根据金的分析,这一增长大部分来自中国人民银行,它逆全球货币紧缩趋势而动,选择直接向其银行系统注入流动性,占据了1万亿美元数字的大部分。“尽管各国央行告诉我们,他们将收紧货币政策,但事实证明,在全球层面上,他们在过去三个月里刚刚增加了价值1万亿美元的流动性,”金表示。金在报告中表示,他得出结论认为,基本面的变化(即经济增长和通胀前景的变化)不能解释全球市场的波动,包括全球股市的反弹,因此他受到启发,更仔细地研究了央行的资产负债表。当他最终将全球股市走势与全球央行流动性的变化趋势进行对比时,他发现,这几乎是一种完美的契合。下图追踪了摩根士丹利资本国际全球指数990100的表现,该指数反映了银行体系流动性的起伏。根据 FactSet 的数据,该指数自9月底以来已上涨12%。大约在同一时间,全球央行的流动性停止下降,开始再次扩张。但金和另一位驻伦敦策略师、宏观咨询公司 CrossBorder Capital 董事总经理迈克尔·豪厄尔(Michael Howell)表示,就连美联储也在以一种更为被动的方式加剧了流动性泛滥。一年多以来,美联储一直在宣传其计划,通过提高利率和减少债券持有量来“收紧”美国金融体系的流动性,方法是选择不将到期债券的收益进行再投资。根据圣路易斯联邦储备银行的数据,尽管自去年春天以来,美联储持有的债券规模缩减了约5000亿美元,但其资产负债表的另一个重要组成部分——美国银行系统准备金——似乎没有增长。根据美联储每周发布的最新数据,截至2月22日,美联储各银行的准备金余额为3.01万亿美元,这比9月底的2.9万亿美元略有上升。豪厄尔表示: “据称美联储正在剥离资产负债表,但银行准备金没有下降”。他表示,这也可能有助于支撑股价,因为美国银行业向金融体系注入的资金规模已经扩大,而非收缩。股市开始回落可以肯定的是,美国股市在最近几周已经回落,根据 FactSet 的数据,纳斯达克综合指数在一月份上涨了0.73% ,创下了20年来最好的开局。股市停止攀升,可能是全球流动性再次回落的迹象。美联储是否会再次出手拯救市场,仍有待观察。但最终,股票估值有可能因此而受到影响。豪厄尔和他的团队认为,美联储可能需要更大幅度地提高利率,以弥补其不愿进一步削减银行系统准备金的不足。美国股市在经历了几周的反弹后,似乎也开始感受到债券收益率上升的影响。纳斯达克综合指数、标普500指数和道琼斯工业平均指数在二月份都有所回落。周四,随着10年期美国国债收益率突破4% 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