財經零距離 – 4/15/2022

Categories: 家族辦公室, 金融時事Published On: April 15th, 202210.9 min readViews: 24775
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【市場更新】

1. 上週聯準會官員Lael Brainard的發言及公布的前月聯準會會議記錄顯示聯準會可能會加速升息,導致市場最近一週上下震盪。正如我們在3/31文章中提到的,之前的反彈已經結束,如果還沒有調整成防禦型的部位的投資人,如果在未來幾天市場有小幅的反彈都是不錯的賣點。提醒大家還是可以把握機會出清不適合長期持有的部位。

2. 中國二年期公債利率首次低於美國公債,美元相對人民幣吸引力提高部分分析師大概會將美債利率高於中國利率歸因於美國通膨嚴重,但一來通貨膨脹未必是長期現象(見下文),另外美國利率走高或是物價上漲依然有一部分是美國經濟過熱導致。此外,從技術上來看,2019以來人民幣對美元的漲勢已經接近盡頭,未來美元對人民幣升值機率不低。

3.美國消費者物價指數較去年同期上漲8.5%,再創歷年新高,但許多項目因供給回歸常態漲勢趨緩甚至下跌,再加上下文提到的卡車產業供過於求,我們目前看到7%、8%的通貨膨脹不會是長期現象,我們當然不能排除又有像俄烏衝突這樣的突發事件造成物價持續上升,但投資時絕對要考慮物價下跌的可能性。

4.之前火熱的卡車產業在不知不覺間已經供過於求: 除了因為過去兩年不斷有新的業者進行卡車運送產業,之前許多零售業為確保供給無虞囤積了大量存貨,此外美國消費者在解封下將原本購買商品的支出移至服務項目,都是原因之一。卡車運送費率開始下滑,分析師也紛紛調降放卡車運送公司評等。

5.知名信評公司Moddy’s警告如果俄羅斯如果不在五月四日以美元支付以外幣計價債券將構成違約,俄羅斯目前打算以盧布支付。

6.許多公司喊出美國製造,但那四大產業真的有足夠誘因可能回美?請見本周Youtube Channel TransGlobal TV上的股動財富。

【疫情更新】

美國費城再度開始要求民眾在室內需戴口罩,是美國首個大城市在解封後重新採取較嚴格的管制措施。

圖片來源:網絡,版權歸原作者
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