跳至内容
- 上周史诗级反弹行情的点位水平肇始于2020年2月新冠疫情首次爆发时的市场最低点。疫情以来，美国的财政和货币政策轮番上阵，而中国则坚持动态清零方针。到如今，中国市场回到了疫情最初的原点，美股也将亦步亦趋。
- 中美成长型资产都深受增长放缓的拖累。被称为“下一个中国”的越南也未能独善其身。
- 港股轧空。但HIBOR的飙升预示着未来数月全球震波渐行渐近，源头很可能来自美国市场。
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- Last week’s epic rally started around the nadir seen in first COVID outbreak in Feb, 2020. Since then, the US welded its fiscal/monetary prowess, while China sticking to COVID-0. Chinese market is back to square one. The US will follow.
- Both US and Chinese growth assets fell victim to a growth slump. Vietnam, the “Next China”, is not spared.
- Hong Kong short covering. But soaring HIBOR augurs for volatility surge in the coming months originated from the US market.
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- 热钱外流历史次高。但那都是些投机性的市场弱手。大浪淘沙始见金，淘尽之后方见持重有力的市场强手。
- 在港的外资券商正在减仓，而内资券商则咬定青山，按兵不动。港股ETF吸引着几乎规模空前的资金流入。
- 尽管恒指还可能进一步下探，但值此非常时期，过度悲观的情绪早已于事无补，并开始与我们的逆向思维相左。
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- Hot money outflow is at its 2nd worst in history. But these are speculative weak hands. What is left is the strong hands with holding power.
- Foreign brokers in HK cutting stock positions, while the mainland counterparts holding still. HK ETF attracts some of the largest inflows in history.
- While the Hang Seng can see further downside, this is a time when excessive pessimism doesn’t help anyone and starts to disagree with our contrarian-self.
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