跳至内容
- Chinese property sector now a zero-sum game and inversely correlates with the overall market. Property easing doesn’t necessarily mean broad market rally.
- Property is highly correlated with China’s macro savings rate. The lower the savings rate, the better the property sector. But leverage will also be higher.
- Hong Kong is cheap, with neutral to positive technical signs. Patience.
Read More
- 中国房地产现在已经进入存量博弈；房地产板块变得与整体市场负相关。因此，房地产放宽并不一定意味着市场整体上涨。
- 房地产与中国宏观储蓄率高度相关。储蓄率越低，房地产越好。但家庭杠杆率也越高。
- 港股估值非常便宜，并开始发出一些中性甚至是积极的技术信号。风物长宜。
阅读更多
- The CNY weakness reflects deteriorating global fundamentals.
- Shadow CNY suggests further USD strength and corresponding CNY weakness.
- A weakening CNY augurs for looming global risks. Stay put.
Read More
- 人民币走软显示全球经济基本面不断弱化。
- 人民币影子汇率预示着美元强势将持续，对应人民币走软。
- 人民币弱势提示全球市场风险若隐若现。稍安勿躁，枕戈待旦。
阅读更多
