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木子望月
2021-06-18
666
@景辰财经:BOSS直聘上市後兩日翻倍!市場爲何看好?
木子望月
2021-06-13
666
@李菲特:來老虎也才3年,當初是爲了小米來的,結果好傢伙套到我懷疑人生,那時候嫌棄入金太麻煩,於是就全心全意的養基跟在大A股廝殺,後面有一天晚上打開老虎看看自己賬戶,看着看着,腦子裏突然靈光一閃,自己用着老虎,那麼全球有多少都用老虎在進行資產配置,我爲啥不投資點老虎股票呢?然後就有了5刀多的時候買入老虎,然後小老虎就果真一路跳躍,期間又在2刀的時候買了趣頭條賺了點,唯有老虎一直持有。可以這麼說,我的賬戶是一路騎着老虎最高衝到了7倍多,雖然現在回撤到了3倍多,但我依然覺得老虎大有可爲,應該也會一直持有下去,並開始逐步將加大老虎賬戶的資金配置,希望以後能夠一直很老虎走下去,也期待着老虎的港股牌照,期待着老虎更加國際化 老虎加油 各位虎友加油
木子望月
2020-12-27
666
What does the historic Brexit agreement mean for the market?
木子望月
2020-12-13
666
Sorry, the original content has been removed
木子望月
2020-12-11
666
Ten Implications of Biden's New Deal
木子望月
2020-12-02
666
@机构有话说:
$NQ100指數主連(NQmain)$
$SP500指數主連(ESmain)$
$道瓊斯指數主連(YMmain)$
$黃金主連(GCmain)$
$白銀主連(SImain)$
期貨基礎知識系列視頻課第四:什麼是最小報價波幅,這些動畫簡單易懂,又非常有趣。3分鐘聽完,收穫一定不小。
Go to Tiger App to see more news
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target=\"_blank\" href=\"https://laohu8.com/S/BZ\">$BOSS直聘(BZ)$</a> 在IPO首日大漲95%,本週一再度上漲7.88%,股價收於40.13美元,較招股價19美元已經翻倍,市值達到160億美元。相比較於同行業的前程無憂、獵聘,市場爲何對BOSS直聘如此青睞?近日天風證券發佈深度研報,以下爲其主要觀點:BOSS 直聘 APP 於 2014 年 7 月上線,全球首創互聯網「直聘」模式,隸屬於看準科技集團。致力於用科技聯結個人的發展,推動人力資源行業的效率變革,爲社會創造更大的價值。BOSS 直聘定位於「用聊天的方式找工作」,鼓勵不同角色和不同職位的僱主,從一開始就加入招聘流程,降低 BC 端的信息不對稱,縮短決策流程,提高招聘效率和滿意度。成立 7 年以來,BOSS 直聘服務過近 1 億的用戶和超過 600 萬的企業僱主。2020 年 BOSS 直聘實現營業收入 19.44 億元,同比增長 95%;2021Q1 實現營收 7.89 億元,同比增長 179%。由於在線招聘服務是預收款模式,當期營收加上遞延收入變動後,2020年實現現金收入 25.30 億元,同比增長 90%;2021Q1 實現現金收入 11.82 億元,同比增長281%。傳統招聘模式的痛點傳統招聘模式的低效率催生直聘模式的出現。中國在線招聘市場服務商主要包括招聘機構提供的在線招聘平臺、在線分類廣告和在線門戶。傳統的以簡歷爲中心、基於搜索的模式不能完全滿足用戶對便捷高效的招聘流程的需求,導致中國在線招聘滲透率較低。①格式化的簡歷所能提供的信息有限,且信息流是從求職者到僱主的單向傳遞,信息迭代反饋速度慢。②流量分發基於中心化的搜索模式,傾斜於簡歷出色的候選人和財力雄厚的知名僱主,無法滿足需求空間更大的普通求職者和中小微僱主。③HR 主導模","listText":"美股新股<a target=\"_blank\" href=\"https://laohu8.com/S/BZ\">$BOSS直聘(BZ)$</a> 在IPO首日大漲95%,本週一再度上漲7.88%,股價收於40.13美元,較招股價19美元已經翻倍,市值達到160億美元。相比較於同行業的前程無憂、獵聘,市場爲何對BOSS直聘如此青睞?近日天風證券發佈深度研報,以下爲其主要觀點:BOSS 直聘 APP 於 2014 年 7 月上線,全球首創互聯網「直聘」模式,隸屬於看準科技集團。致力於用科技聯結個人的發展,推動人力資源行業的效率變革,爲社會創造更大的價值。BOSS 直聘定位於「用聊天的方式找工作」,鼓勵不同角色和不同職位的僱主,從一開始就加入招聘流程,降低 BC 端的信息不對稱,縮短決策流程,提高招聘效率和滿意度。成立 7 年以來,BOSS 直聘服務過近 1 億的用戶和超過 600 萬的企業僱主。2020 年 BOSS 直聘實現營業收入 19.44 億元,同比增長 95%;2021Q1 實現營收 7.89 億元,同比增長 179%。由於在線招聘服務是預收款模式,當期營收加上遞延收入變動後,2020年實現現金收入 25.30 億元,同比增長 90%;2021Q1 實現現金收入 11.82 億元,同比增長281%。傳統招聘模式的痛點傳統招聘模式的低效率催生直聘模式的出現。中國在線招聘市場服務商主要包括招聘機構提供的在線招聘平臺、在線分類廣告和在線門戶。傳統的以簡歷爲中心、基於搜索的模式不能完全滿足用戶對便捷高效的招聘流程的需求,導致中國在線招聘滲透率較低。①格式化的簡歷所能提供的信息有限,且信息流是從求職者到僱主的單向傳遞,信息迭代反饋速度慢。②流量分發基於中心化的搜索模式,傾斜於簡歷出色的候選人和財力雄厚的知名僱主,無法滿足需求空間更大的普通求職者和中小微僱主。③HR 主導模","text":"美股新股$BOSS直聘(BZ)$ 在IPO首日大漲95%,本週一再度上漲7.88%,股價收於40.13美元,較招股價19美元已經翻倍,市值達到160億美元。相比較於同行業的前程無憂、獵聘,市場爲何對BOSS直聘如此青睞?近日天風證券發佈深度研報,以下爲其主要觀點:BOSS 直聘 APP 於 2014 年 7 月上線,全球首創互聯網「直聘」模式,隸屬於看準科技集團。致力於用科技聯結個人的發展,推動人力資源行業的效率變革,爲社會創造更大的價值。BOSS 直聘定位於「用聊天的方式找工作」,鼓勵不同角色和不同職位的僱主,從一開始就加入招聘流程,降低 BC 端的信息不對稱,縮短決策流程,提高招聘效率和滿意度。成立 7 年以來,BOSS 直聘服務過近 1 億的用戶和超過 600 萬的企業僱主。2020 年 BOSS 直聘實現營業收入 19.44 億元,同比增長 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老虎加油 各位虎友加油 ","listText":"來老虎也才3年,當初是爲了小米來的,結果好傢伙套到我懷疑人生,那時候嫌棄入金太麻煩,於是就全心全意的養基跟在大A股廝殺,後面有一天晚上打開老虎看看自己賬戶,看着看着,腦子裏突然靈光一閃,自己用着老虎,那麼全球有多少都用老虎在進行資產配置,我爲啥不投資點老虎股票呢?然後就有了5刀多的時候買入老虎,然後小老虎就果真一路跳躍,期間又在2刀的時候買了趣頭條賺了點,唯有老虎一直持有。可以這麼說,我的賬戶是一路騎着老虎最高衝到了7倍多,雖然現在回撤到了3倍多,但我依然覺得老虎大有可爲,應該也會一直持有下去,並開始逐步將加大老虎賬戶的資金配置,希望以後能夠一直很老虎走下去,也期待着老虎的港股牌照,期待着老虎更加國際化 老虎加油 各位虎友加油 ","text":"來老虎也才3年,當初是爲了小米來的,結果好傢伙套到我懷疑人生,那時候嫌棄入金太麻煩,於是就全心全意的養基跟在大A股廝殺,後面有一天晚上打開老虎看看自己賬戶,看着看着,腦子裏突然靈光一閃,自己用着老虎,那麼全球有多少都用老虎在進行資產配置,我爲啥不投資點老虎股票呢?然後就有了5刀多的時候買入老虎,然後小老虎就果真一路跳躍,期間又在2刀的時候買了趣頭條賺了點,唯有老虎一直持有。可以這麼說,我的賬戶是一路騎着老虎最高衝到了7倍多,雖然現在回撤到了3倍多,但我依然覺得老虎大有可爲,應該也會一直持有下去,並開始逐步將加大老虎賬戶的資金配置,希望以後能夠一直很老虎走下去,也期待着老虎的港股牌照,期待着老虎更加國際化 老虎加油 各位虎友加油","images":[{"img":"https://static.tigerbbs.com/2a23621b17b7b5a76fb69dfd62f9dcd8","width":"752","height":"380"}],"top":1,"highlighted":2,"essential":2,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/188899806","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":2,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2577,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":339421671,"gmtCreate":1609040370193,"gmtModify":1704977213194,"author":{"id":"3568636259241053","authorId":"3568636259241053","name":"木子望月","avatar":"https://static.tigerbbs.com/3f87ec2f14e38ba9b809b6e3ab4907a0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568636259241053","authorIdStr":"3568636259241053"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/339421671","repostId":"1199249539","repostType":4,"repost":{"id":"1199249539","kind":"news","pubTimestamp":1608861527,"share":"https://ttm.financial/m/news/1199249539?lang=en_US&edition=fundamental","pubTime":"2020-12-25 09:58","market":"uk","language":"zh","title":"What does the historic Brexit agreement mean for the market?","url":"https://stock-news.laohu8.com/highlight/detail?id=1199249539","media":"华尔街见闻","summary":"市场不确定性仍然存在。媒体称英国与欧盟可能会在未来重新谈判脱欧协议的部分内容,同时,英国经济的主要支柱服务业不在协议范围内,势必会造成一定程度的干扰。12月24日平安夜当天,欧盟委员会主席冯德莱恩宣布","content":"<p>Market uncertainty remains. The media said that Britain and the European Union may renegotiate part of the Brexit agreement in the future. At the same time, the service industry, the main pillar of the British economy, is not within the scope of the agreement, which is bound to cause a certain degree of interference.</p><p>On Christmas Eve, December 24th, European Commission President von der Leyen announced that the UK-EU trade agreement was finally reached after nine months of difficult negotiations, which marked that Britain, the second largest economy in Europe, completely left the European Union dominated by Germany and France. The regional joint framework established after World War II was broken, and the relationship between Britain and its largest trading partner, the European Union and other countries in the world, entered a new era.</p><p>As the cloud of uncertainty of \"hard Brexit\" without trade agreement disperses, the tariffs and costs faced by exporters in Britain and Europe will be far lower than the pessimistic scenario of Brexit without agreement, and the market has also entered the stage of \"selling facts\". The pound fell from a two-and-a-half-year high of 1.3624 against the US dollar to 1.3550 now.</p><p>However, despite the successful conclusion of the agreement, von der Leyen also said that \"the EU will continue to cooperate with the UK in all fields\".<b>Market uncertainty remains.</b></p><p><b>After the \"official announcement\" of the trade agreement was reached, some media said that Britain and the European Union may renegotiate part of the Brexit agreement in the future, and the two sides may still impose tariffs on each other in case of disputes. At the same time, the service industry, the main pillar of the British economy, especially the financial services industry, a key industry in London, is not covered by the agreement, which is bound to cause a certain degree of interference.</b></p><p><b>British stocks</b></p><p>Since the Brexit referendum in June 2016, the risk of a \"hard Brexit\" without agreement has been putting pressure on British assets. As the largest financial service customer in the UK, the annual bilateral trade volume between the EU and the UK reaches US $1 trillion.</p><p>Compared with the foreign exchange market and bond market,<b>The British stock market is arguably the worst performing British asset in four years, and it has lagged behind the global stock market recovery since March.</b>At present, the market value of British stocks in the global index has been reduced from 10% before the referendum to 4%, and the trading price is 30% discount to the global market, much higher than the usual 10%.</p><p><img src=\"https://static.tigerbbs.com/bc25f79873f302f6c49bbc9c96021d2c\" tg-width=\"845\" tg-height=\"650\"></p><p><i>The world's major indexes since the Brexit vote (red line is the FTSE 100)</i></p><p>With the trade deal reached, some analysts believe it is time to turn over, calling on clients to buy undervalued British stocks, but things may not be as simple as imagined.</p><p>Analysts say Brexit has created far more separation between the UK and the EU than is believed and further negotiations in 2021 to flesh out the deal are inevitable,<b>This means that discounts on UK assets won't disappear anytime soon.</b></p><p>Not only that, but Seema Shah, chief strategist at Principal Global Investors, said that although the trade deal will bring some attraction to the UK market, what Brexit and the pandemic will leave behind is a \"long-term scar\". She believes that \"Brexit does mean that Britain may lose some of its luster.\"<a href=\"https://laohu8.com/S/UBS\">UBS</a>Caroline Simmons, chief investment officer of the UK, also said that Brexit has a huge drag on UK GDP.</p><p>It is worth mentioning that the service industry, the main pillar of the British economy, is not covered by the agreement.<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Andrew Sheets, head of cross-asset strategy, said:</p><p>The elimination of the risk of no trade deal will raise the average price of UK assets, but it will not solve the underlying economic challenge...<b>The service sector, which accounts for a large proportion of the UK economy, is facing a negative impact.</b>”<b>pound sterling</b></p><p>The pound has been on a rollercoaster ride in recent weeks. Under the cloud of \"hard Brexit\" uncertainty, the pound once fell to 1.29 against the US dollar in early November, but last week it briefly hit a two-and-a-half-year high of US $1.36 as the trade agreement was expected to rise.</p><p>The team of Chris Turner, head of global markets at ING, had previously expected the final agreement to provide a \"modest boost\" to the pound, pushing it further to 1.38 or facing a \"huge downside\". Chris Turner's team has set a one-month target of 1.36 for GBP/USD.</p><p><b>Oil price</b></p><p>Peter McNally of investment research consultancy Third Bridge also pointed out that,<b>The impact of Brexit on the pound and the shock on the dollar could push oil prices higher.</b></p><p>Speaking to Barron's, McNally said:</p><p>If the outcome of the Brexit deal leads to a fundamentally weaker dollar, it will further boost oil prices, which we have been witnessing in recent months. A weaker dollar will further push oil prices higher because oil is priced in dollars and buyers of a stronger local currency will find it cheaper.</p>","source":"highlight_wallstreetcn","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>What does the historic Brexit agreement mean for the market?</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\">\nWhat does the historic Brexit agreement mean for the market?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2020-12-25 09:58</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Market uncertainty remains. The media said that Britain and the European Union may renegotiate part of the Brexit agreement in the future. At the same time, the service industry, the main pillar of the British economy, is not within the scope of the agreement, which is bound to cause a certain degree of interference.</p><p>On Christmas Eve, December 24th, European Commission President von der Leyen announced that the UK-EU trade agreement was finally reached after nine months of difficult negotiations, which marked that Britain, the second largest economy in Europe, completely left the European Union dominated by Germany and France. The regional joint framework established after World War II was broken, and the relationship between Britain and its largest trading partner, the European Union and other countries in the world, entered a new era.</p><p>As the cloud of uncertainty of \"hard Brexit\" without trade agreement disperses, the tariffs and costs faced by exporters in Britain and Europe will be far lower than the pessimistic scenario of Brexit without agreement, and the market has also entered the stage of \"selling facts\". The pound fell from a two-and-a-half-year high of 1.3624 against the US dollar to 1.3550 now.</p><p>However, despite the successful conclusion of the agreement, von der Leyen also said that \"the EU will continue to cooperate with the UK in all fields\".<b>Market uncertainty remains.</b></p><p><b>After the \"official announcement\" of the trade agreement was reached, some media said that Britain and the European Union may renegotiate part of the Brexit agreement in the future, and the two sides may still impose tariffs on each other in case of disputes. At the same time, the service industry, the main pillar of the British economy, especially the financial services industry, a key industry in London, is not covered by the agreement, which is bound to cause a certain degree of interference.</b></p><p><b>British stocks</b></p><p>Since the Brexit referendum in June 2016, the risk of a \"hard Brexit\" without agreement has been putting pressure on British assets. As the largest financial service customer in the UK, the annual bilateral trade volume between the EU and the UK reaches US $1 trillion.</p><p>Compared with the foreign exchange market and bond market,<b>The British stock market is arguably the worst performing British asset in four years, and it has lagged behind the global stock market recovery since March.</b>At present, the market value of British stocks in the global index has been reduced from 10% before the referendum to 4%, and the trading price is 30% discount to the global market, much higher than the usual 10%.</p><p><img src=\"https://static.tigerbbs.com/bc25f79873f302f6c49bbc9c96021d2c\" tg-width=\"845\" tg-height=\"650\"></p><p><i>The world's major indexes since the Brexit vote (red line is the FTSE 100)</i></p><p>With the trade deal reached, some analysts believe it is time to turn over, calling on clients to buy undervalued British stocks, but things may not be as simple as imagined.</p><p>Analysts say Brexit has created far more separation between the UK and the EU than is believed and further negotiations in 2021 to flesh out the deal are inevitable,<b>This means that discounts on UK assets won't disappear anytime soon.</b></p><p>Not only that, but Seema Shah, chief strategist at Principal Global Investors, said that although the trade deal will bring some attraction to the UK market, what Brexit and the pandemic will leave behind is a \"long-term scar\". She believes that \"Brexit does mean that Britain may lose some of its luster.\"<a href=\"https://laohu8.com/S/UBS\">UBS</a>Caroline Simmons, chief investment officer of the UK, also said that Brexit has a huge drag on UK GDP.</p><p>It is worth mentioning that the service industry, the main pillar of the British economy, is not covered by the agreement.<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Andrew Sheets, head of cross-asset strategy, said:</p><p>The elimination of the risk of no trade deal will raise the average price of UK assets, but it will not solve the underlying economic challenge...<b>The service sector, which accounts for a large proportion of the UK economy, is facing a negative impact.</b>”<b>pound sterling</b></p><p>The pound has been on a rollercoaster ride in recent weeks. Under the cloud of \"hard Brexit\" uncertainty, the pound once fell to 1.29 against the US dollar in early November, but last week it briefly hit a two-and-a-half-year high of US $1.36 as the trade agreement was expected to rise.</p><p>The team of Chris Turner, head of global markets at ING, had previously expected the final agreement to provide a \"modest boost\" to the pound, pushing it further to 1.38 or facing a \"huge downside\". Chris Turner's team has set a one-month target of 1.36 for GBP/USD.</p><p><b>Oil price</b></p><p>Peter McNally of investment research consultancy Third Bridge also pointed out that,<b>The impact of Brexit on the pound and the shock on the dollar could push oil prices higher.</b></p><p>Speaking to Barron's, McNally said:</p><p>If the outcome of the Brexit deal leads to a fundamentally weaker dollar, it will further boost oil prices, which we have been witnessing in recent months. A weaker dollar will further push oil prices higher because oil is priced in dollars and buyers of a stronger local currency will find it cheaper.</p>\n<div class=\"bt-text\">\n\n\n<p> source:<a href=\"https://wallstreetcn.com/articles/3614828\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/05bdf200c4138336b0f7e4174ef1a988","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3614828","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1199249539","content_text":"市场不确定性仍然存在。媒体称英国与欧盟可能会在未来重新谈判脱欧协议的部分内容,同时,英国经济的主要支柱服务业不在协议范围内,势必会造成一定程度的干扰。12月24日平安夜当天,欧盟委员会主席冯德莱恩宣布,英欧贸易协议历经九个月的艰难谈判后终于达成,标志着欧洲第二大经济体英国彻底脱离以德法为主导的欧盟,二战后建立的地区联合框架被打破,英国与其最大贸易合作伙伴欧盟以及世界其他国家的关系进入新时代。随着无贸易协议“硬脱欧”的不确定性阴云散去,英欧双方出口商所面临的关税和成本将远低于无协议脱欧的悲观场景,市场也进入“卖事实”阶段,英镑兑美元从两年半新高1.3624回落,目前至1.3550。不过,尽管协议成功达成,冯德莱恩也表示“欧盟将继续在所有领域与英国合作”,市场不确定性仍然存在。贸易协议“官宣”达成后便有媒体称,英国与欧盟可能会在未来重新谈判脱欧协议的部分内容,双方仍然可能会在出现争端时向对方加征关税。同时,英国经济的主要支柱服务业,特别是伦敦的重点行业金融服务业不在协议范围内,势必会造成一定程度的干扰。英股2016年6月英国脱欧公投以来,无协议“硬脱欧”的风险就一直对英国资产构成压力。作为英国最大的金融服务客户,欧盟每年同英国双边贸易额达1万亿美元。相较汇市、债市而言,英国股市可以说是四年来表现最差的英国资产,3月以来也落后于全球股市复苏。目前,英国股票在全球指数中市值占比已从公投前的10%缩减至4%,交易价格相对于全球市场有30%的折让,远高于通常的10%幅度。英国脱欧公投以来世界主要股指(红线为富时100指数)随着贸易协议达成,一些分析师认为翻身的时候到了,纷纷呼吁客户买入被低估的英国股票,不过事情可能没有想象的那么简单。分析师表示,脱欧所造成的英国与欧盟之间的分离远比人们所认为的要多,2021年为充实该协议而进行进一步谈判是不可避免的,这意味着英国资产的折价不会很快消失。不仅如此,Principal Global Investors首席策略师Seema Shah表示,尽管贸易协议会给英国市场带来一些吸引力,但脱欧和疫情将留下的是“长期的疤痕”。她认为,“脱欧确实意味着英国可能会失去一些光泽。”瑞银英国首席投资官Caroline Simmons也表示,脱欧对英国GDP的拖累非常之大。值得一提的是,英国经济的主要支柱服务业并不在协议范围内。摩根士丹利跨资产策略负责人Andrew Sheets表示:无贸易协议风险的消除将提高英国资产的平均价格,但这并不能解决潜在的经济挑战... 在英国经济中占很大比重的服务业正面临负面冲击。”英镑最近几周英镑一直处于过山车状态。“硬脱欧”不确定性阴云下,11月初英镑兑美元一度跌至1.29,而上周随着贸易协议预期抬升短暂触及1.36美元两年半新高。ING全球市场主管Chris Turner团队此前预计,最终协议将为英镑提供“适度的提振”,将其进一步推升至1.38,否则将面临“巨大的下行空间”。Chris Turner团队设定的英镑兑美元一个月目标位为1.36。油价投资研究咨询公司Third Bridge的Peter McNally也指出,英国退欧对英镑的影响以及对美元的冲击可能会推高油价。McNally接受《巴伦周刊》采访时表示:如果脱欧协议的结果导致美元从根本上走弱,这将进一步提振油价,这是我们近几个月来一直在目睹的。美元走弱将进一步推高油价,因为石油是以美元定价的,而本币走强的买家会发现石油更便宜。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1215,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":395745189,"gmtCreate":1607822002041,"gmtModify":1704972072448,"author":{"id":"3568636259241053","authorId":"3568636259241053","name":"木子望月","avatar":"https://static.tigerbbs.com/3f87ec2f14e38ba9b809b6e3ab4907a0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568636259241053","authorIdStr":"3568636259241053"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/395745189","repostId":"1168762558","repostType":4,"isVote":1,"tweetType":1,"viewCount":1415,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":395685522,"gmtCreate":1607650082566,"gmtModify":1704971504451,"author":{"id":"3568636259241053","authorId":"3568636259241053","name":"木子望月","avatar":"https://static.tigerbbs.com/3f87ec2f14e38ba9b809b6e3ab4907a0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568636259241053","authorIdStr":"3568636259241053"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/395685522","repostId":"1177921596","repostType":4,"repost":{"id":"1177921596","kind":"news","pubTimestamp":1607592487,"share":"https://ttm.financial/m/news/1177921596?lang=en_US&edition=fundamental","pubTime":"2020-12-10 17:28","market":"us","language":"zh","title":"Ten Implications of Biden's New Deal","url":"https://stock-news.laohu8.com/highlight/detail?id=1177921596","media":"中信证券","summary":"宏观政策\n影响一:疫情防控成为首要任务,预计美国经济将于明年下半年开启快速复苏。\n北半球入冬后,美国每日新增病例达到20万例左右。与特朗普急于推动经济重启而刻意淡化疫情,导致大范围蔓延不同,拜登极为重","content":"<p><b>Macro policy</b></p><p><b>Impact 1: Epidemic prevention and control has become the top priority, and the U.S. economy is expected to start a rapid recovery in the second half of next year.</b></p><p>After winter in the northern hemisphere, the number of new cases in the United States reached about 200,000 every day. Unlike Trump's eagerness to promote economic restart and deliberately downplaying the epidemic, which led to widespread spread, Biden attaches great importance to epidemic prevention and control. He advocates doubling testing sites and making testing free for all; Accelerate vaccine production and ensure equitable access to vaccine resources; Raise production of personal protective equipment such as masks and require states to make mask-wearing mandatory.</p><p>Recently, good news about vaccines has spread frequently. Once Biden's various prevention and control plans are implemented, it is expected that the U.S. economy will start a rapid recovery in the second half of next year. On the one hand, cyclical industries such as materials, industry, tourism, and transportation will be repaired; On the other hand, continuous investment in medical resources will benefit related medical services and manufacturing fields.</p><p><b>Impact 2: The new round of financial assistance may be carried out in two steps. The ultra-loose and ultra-low interest rate environment will be maintained in the medium and long term. It is expected that the rate hike will be until 2023 at the earliest.</b></p><p>In May this year, the Democratic Party released the $3.4 trillion \"HEROES ACT\" and was passed by the House of Representatives, but blocked by the Senate. In September, the Democratic Party once again proposed a $2.2 trillion \"slimming\" plan, but still failed to reach an agreement with the Republican Party.</p><p>Considering that Biden has 36 years of experience as a senator and strong cross-party negotiation ability, at the end of this year or early next year, the United States may first pass a round of financial assistance with a scale between 500 billion and 1 trillion US dollars, mainly targeting the unemployed and small and medium-sized enterprises; After Biden takes office, another round of financial assistance for state and local governments may be launched. The total volume of the two rounds of aid is expected to reach about $2 trillion, but the feasibility and scale of the second round largely depend on the future control of the U.S. Senate.</p><p>It is expected that the U.S. fiscal deficit ratio will remain as high as 8.6% next year, significantly higher than the historical average. Biden has nominated former Federal Reserve Chairman Yellen as the candidate for the new U.S. Treasury Secretary. Since the \"dovish\" Yellen pays more attention to the weak employment and economic weakness of the U.S. economy rather than paying too much attention to inflation, it is expected that the trend of fiscal monetization will continue.</p><p>Yellen's coming to power will help the Ministry of Finance and the Federal Reserve maintain the policy combination of \"loose finance + loose money\". It is expected that the United States will maintain an ultra-loose and ultra-low interest rate environment in the medium and long term. Specifically, the Federal Reserve will continue to focus on restoring employment, anchor long-term inflation expectations at 2%, and maintain the stability of the financial system.</p><p>In 2021, it is expected that the scale of balance sheet expansion will reach about 900 billion to 1.5 trillion US dollars, and the earliest time point for rate hike may be 2023.</p><p><b>Impact 3: Small and medium-sized enterprises and low-income people will receive more policy attention, relying on tax increases to support government spending and ease deficit pressure.</b></p><p>As a representative of the Democratic Party, Biden pays more attention to the interests of the middle class, low-income groups and small and medium-sized enterprises, and advocates narrowing the gap between the rich and the poor through higher public expenditures and tougher tax adjustments. Biden's tax increase proposal may be blocked by the Senate. It remains to be seen whether it can be implemented.</p><p>Biden proposed a redistribution reform plan of \"transfer payments\". Although Biden advocates increasing infrastructure investment and procurement spending, he also takes into account controlling government debt, that is, increasing government spending and controlling long-term deficits through tax increases. Specifically, he proposed to raise the highest tax rate to 39.6%, and the nominal corporate income tax rate will also be raised from the current 21% to 28%.</p><p>If Biden's tax plans can be realized, U.S. fiscal revenue is expected to increase by 3.4-3.7 trillion U.S. dollars in the next ten years, equivalent to 1.3%-1.4% of GDP, which will effectively alleviate the pressure on the U.S. fiscal deficit. However, considering the potential preferential tax policies and deductions, the actual income tax rate may only increase by 3-4 percentage points. For blue-chip companies in the U.S. stock market with strong profitability, especially low leverage ratios, the impact on profits and medium-and long-term growth is expected to be limited.</p><p><b>INDUSTRY DEVELOPMENT</b></p><p><b>Impact 4: Continue to support the revitalization of the U.S. manufacturing industry and launch the \"Buy American\" program.</b></p><p>Biden also actively called for manufacturing to be returned to the United States. He will also use the expanded line of credit, special tax credits for manufacturing and the expanded partnership program to enhance the competitiveness of small and medium-sized manufacturing enterprises in the United States. He also promised to spend $400 billion on American goods and services during his first term, and will create 5 million jobs.</p><p>In addition, Biden proposed a 10-year infrastructure investment plan of US $1.3 trillion, mainly including transportation, energy, water conservancy and other fields. These measures will also increase demand for American products, materials and services.</p><p><b>Impact 5: The \"Clean Energy Revolution\" plan is launched, and the United States will increase its investment in the new energy industry, which will be negative for fossil energy.</b></p><p>Biden has nominated former Secretary of State John Kerry as the \"Presidential Climate Envoy\", expressed his willingness to re-sign and abide by the Paris Climate Agreement, and promised to invest $2 trillion within four years to fight climate change.</p><p>On the one hand, Biden supports the development of the new energy vehicle industry and proposes to establish 500,000 electric vehicle charging piles across the country, and the government will purchase 3 million new energy vehicles, striving to enable the United States to achieve a 100% clean energy economy and zero net carbon emissions by 2050. On the other hand, Biden has previously proposed that although he will not completely ban the exploitation of shale oil, he will stop new exploitation projects in the United States, which may have a certain negative impact on the fossil energy industry.</p><p><b>Impact 6: Investigate the monopolistic behavior of technology companies, and global technology leaders are under pressure. The implementation of Obama's Affordable Health Insurance Act has limited the development space of drug and medical service providers.</b></p><p>In terms of technology, Biden advocates investigating the monopolistic behavior of technology companies, which may put pressure on some global technology leaders. However, it is expected that its antitrust measures will be limited at best to restricting future acquisitions, rather than forcing the giants to split. In response to antitrust, Biden proposed to invest US $300 billion to support advanced materials, biomedicine, clean energy,<a href=\"https://laohu8.com/S/000901\">Aerospace Science and Technology</a>And artificial intelligence to encourage the tech industry to compete and thrive.</p><p>In terms of medical care, Biden advocates protecting and expanding Obama's Affordable Health Care Act, which plans to provide insurance for more than 97% of Americans. In the long run, if the political proposition of expanding the scope of medical insurance and increasing social welfare is passed, the development space of drug and medical service providers will be limited, and the income and profits of related pharmaceutical companies will also be impacted to a certain extent. But in the short term, considering that the U.S. economy is still hit by the epidemic, Biden may choose to take the lead in implementing some of the adopted plans, such as lowering the price of generic drugs.</p><p><b>Sino-US relations</b></p><p><b>Impact 7: Overthrow Trump's foreign policy proposition, from \"withdrawing from the group\" to \"joining the group\", and lead the United States back to the international framework of multilateralism.</b></p><p>As an establishment politician who has served on the Senate Foreign Relations Committee for a long time, Biden has always adhered to multilateralism. He has made a commitment to return to the Paris Agreement, and also expressed his hope to return to the World Health Organization, or he will return to the CPTPP by renegotiation, and supports the resumption of the 2015 Iranian nuclear deal. After Biden takes office, he is expected to make strengthening or repairing alliances his main task.</p><p>In Europe, he has confirmed with leaders of major European countries that he will cooperate in areas such as security and climate change to revive the \"cross-country\" that he withdrew during the Trump administration<a href=\"https://laohu8.com/S/600558\">Atlantic</a>Partnership \". In the Asia-Pacific region, Biden said he would be \"firmly committed to building a strong South Korea-US alliance and a peaceful and prosperous Korean Peninsula.\" In a phone call with the new Japanese Prime Minister Yoshihide Suga, he also emphasized the joint establishment of a \"free and open Indo-Pacific.\"</p><p>In terms of diplomacy with China, the Biden administration will strengthen so-called \"values\" diplomacy such as * rights and human rights. Being tough on China will not be Biden's top priority, but will more serve as a shield derived from the weak domestic economic recovery. Blinken, the new Secretary of State, supports the \"return to Asia-Pacific\" strategy of the Obama era and emphasizes the construction of the so-called \"* alliance of countries\" to contain Chinese development.</p><p>Biden may increase the U.S. military presence in the Asia-Pacific region. During his term of office, the Trump administration not only failed to launch any war, but also withdrew troops from all over the world. Biden may continue the Obama administration's strategy of returning to the Asia-Pacific region and increase military deployment in East Asia.</p><p><b>Impact 8: Tariffs on China will not be cancelled in the short term, but we may use tariff reduction as a \"bargaining chip\" to negotiate with China.</b></p><p>On December 2, Biden said that he would not take immediate action on tariffs on China and hoped to conduct a comprehensive review of existing trade agreements first. Biden does not advocate using tariffs to exert pressure on other countries, and once criticized that \"the only people who pay the price for the trade war are American farmers and workers\". In addition, Biden has previously made a commitment to reduce trade barriers and proposed to negotiate with China through U.S. allies and international mechanisms.</p><p>Therefore, Biden is more likely to use tariff reduction and the purchase of commodities such as soybeans as \"bargaining chips\" to negotiate with China, trying to obtain concessions from China in areas such as intellectual property protection, so-called subsidies for state-owned enterprises, and related competitive neutrality.</p><p><b>Impact 9: The field of science and technology will remain tough on China, and will unite allies to put pressure on China.</b></p><p>The United States hopes to maintain its absolute leadership in the field of science and technology, and Biden will also maintain a tough stance towards China in terms of technological innovation and related industrial policies. First, continue to seize the issue of so-called subsidies for state-owned enterprises, believing that state-owned enterprises have so-called unfair advantages and will dominate future technologies and industries. Second, he places great emphasis on the protection of intellectual property rights. He believes that if no measures are taken, \"China will continue to rob the technology of the United States and American companies\".</p><p>The technology sanctions introduced by the Trump administration will not be lifted immediately by the Biden administration. The technological competition between China and the United States will continue, but the means will change. On the one hand, Biden will increase support for domestic technology research and development; on the other hand, he will put pressure on China within the framework of international trade rules, and sanctions that abuse national security as an excuse may be reduced.</p><p>Especially in the field of \"nuclear high-tech\", the Biden administration will not relax compared with Trump, and will even unite allies to put pressure on Chinese technology companies. For example, Blinken said that in terms of 5G, the United States must work with allies to develop common policies on export controls, investment restrictions and technical standards to ensure what is called \"an ecosystem that protects and promotes the values of free *.\"</p><p><b>Impact 10: Tightening supervision is expected to accelerate the return of Chinese concept stocks, and the Hong Kong market will benefit from it. 2024 is the last critical time.</b></p><p>Chinese-funded enterprises are subject to higher thresholds for listing in the United States. On December 3, the Foreign Company Accountability Act was passed by the House of Representatives. According to the content of the bill, if it fails to pass the audit of PCAOB (Accounting Oversight Board of Listed Companies) for three consecutive years, it will be banned from trading on national exchanges. The bill also requires listed companies to disclose whether they are owned or controlled by foreign governments within 90 days. If the bill takes effect before the end of the year, it is expected that Chinese concept stocks that do not meet the requirements will be banned from trading around the second quarter of 2024.</p><p>The stable Hong Kong and innovative Hong Kong capital market may receive more dividends from the return of Chinese concept stocks. The introduction and subsequent strict implementation of the National Security Law have prevented Hong Kong from being excessively interfered by internal riots and external anti-China forces; The construction of the Guangdong-Hong Kong-Macau Greater Bay Area will also deepen cooperation and bring new development impetus to Hong Kong.</p><p>Domestic and Offshore Capital Markets in Hong Kong<a href=\"https://laohu8.com/S/HUBG\">hub</a>The role has become increasingly prominent. On the one hand, Chinese concept stocks with different rights for the same stock and secondary listing regard the Hong Kong stock market as the first choice for returning. The Hang Seng Index allows relevant Chinese concept stocks to be included, which further stimulates market enthusiasm. On the other hand, the interconnection mechanism between mainland and Hong Kong has been gradually improved, science and technology innovation board stocks have been included in Shanghai-Hong Kong Stock Connect, and ETF Connect, Bond Connect and Wealth Management Connect are also being accelerated. The financial products of the two places will be more abundant and the financial market will be more mature.</p>","source":"zxzqyj","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>Ten Implications of Biden's New Deal</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\">\nTen Implications of Biden's New Deal\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">中信证券</strong><span class=\"h-time small\">2020-12-10 17:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Macro policy</b></p><p><b>Impact 1: Epidemic prevention and control has become the top priority, and the U.S. economy is expected to start a rapid recovery in the second half of next year.</b></p><p>After winter in the northern hemisphere, the number of new cases in the United States reached about 200,000 every day. Unlike Trump's eagerness to promote economic restart and deliberately downplaying the epidemic, which led to widespread spread, Biden attaches great importance to epidemic prevention and control. He advocates doubling testing sites and making testing free for all; Accelerate vaccine production and ensure equitable access to vaccine resources; Raise production of personal protective equipment such as masks and require states to make mask-wearing mandatory.</p><p>Recently, good news about vaccines has spread frequently. Once Biden's various prevention and control plans are implemented, it is expected that the U.S. economy will start a rapid recovery in the second half of next year. On the one hand, cyclical industries such as materials, industry, tourism, and transportation will be repaired; On the other hand, continuous investment in medical resources will benefit related medical services and manufacturing fields.</p><p><b>Impact 2: The new round of financial assistance may be carried out in two steps. The ultra-loose and ultra-low interest rate environment will be maintained in the medium and long term. It is expected that the rate hike will be until 2023 at the earliest.</b></p><p>In May this year, the Democratic Party released the $3.4 trillion \"HEROES ACT\" and was passed by the House of Representatives, but blocked by the Senate. In September, the Democratic Party once again proposed a $2.2 trillion \"slimming\" plan, but still failed to reach an agreement with the Republican Party.</p><p>Considering that Biden has 36 years of experience as a senator and strong cross-party negotiation ability, at the end of this year or early next year, the United States may first pass a round of financial assistance with a scale between 500 billion and 1 trillion US dollars, mainly targeting the unemployed and small and medium-sized enterprises; After Biden takes office, another round of financial assistance for state and local governments may be launched. The total volume of the two rounds of aid is expected to reach about $2 trillion, but the feasibility and scale of the second round largely depend on the future control of the U.S. Senate.</p><p>It is expected that the U.S. fiscal deficit ratio will remain as high as 8.6% next year, significantly higher than the historical average. Biden has nominated former Federal Reserve Chairman Yellen as the candidate for the new U.S. Treasury Secretary. Since the \"dovish\" Yellen pays more attention to the weak employment and economic weakness of the U.S. economy rather than paying too much attention to inflation, it is expected that the trend of fiscal monetization will continue.</p><p>Yellen's coming to power will help the Ministry of Finance and the Federal Reserve maintain the policy combination of \"loose finance + loose money\". It is expected that the United States will maintain an ultra-loose and ultra-low interest rate environment in the medium and long term. Specifically, the Federal Reserve will continue to focus on restoring employment, anchor long-term inflation expectations at 2%, and maintain the stability of the financial system.</p><p>In 2021, it is expected that the scale of balance sheet expansion will reach about 900 billion to 1.5 trillion US dollars, and the earliest time point for rate hike may be 2023.</p><p><b>Impact 3: Small and medium-sized enterprises and low-income people will receive more policy attention, relying on tax increases to support government spending and ease deficit pressure.</b></p><p>As a representative of the Democratic Party, Biden pays more attention to the interests of the middle class, low-income groups and small and medium-sized enterprises, and advocates narrowing the gap between the rich and the poor through higher public expenditures and tougher tax adjustments. Biden's tax increase proposal may be blocked by the Senate. It remains to be seen whether it can be implemented.</p><p>Biden proposed a redistribution reform plan of \"transfer payments\". Although Biden advocates increasing infrastructure investment and procurement spending, he also takes into account controlling government debt, that is, increasing government spending and controlling long-term deficits through tax increases. Specifically, he proposed to raise the highest tax rate to 39.6%, and the nominal corporate income tax rate will also be raised from the current 21% to 28%.</p><p>If Biden's tax plans can be realized, U.S. fiscal revenue is expected to increase by 3.4-3.7 trillion U.S. dollars in the next ten years, equivalent to 1.3%-1.4% of GDP, which will effectively alleviate the pressure on the U.S. fiscal deficit. However, considering the potential preferential tax policies and deductions, the actual income tax rate may only increase by 3-4 percentage points. For blue-chip companies in the U.S. stock market with strong profitability, especially low leverage ratios, the impact on profits and medium-and long-term growth is expected to be limited.</p><p><b>INDUSTRY DEVELOPMENT</b></p><p><b>Impact 4: Continue to support the revitalization of the U.S. manufacturing industry and launch the \"Buy American\" program.</b></p><p>Biden also actively called for manufacturing to be returned to the United States. He will also use the expanded line of credit, special tax credits for manufacturing and the expanded partnership program to enhance the competitiveness of small and medium-sized manufacturing enterprises in the United States. He also promised to spend $400 billion on American goods and services during his first term, and will create 5 million jobs.</p><p>In addition, Biden proposed a 10-year infrastructure investment plan of US $1.3 trillion, mainly including transportation, energy, water conservancy and other fields. These measures will also increase demand for American products, materials and services.</p><p><b>Impact 5: The \"Clean Energy Revolution\" plan is launched, and the United States will increase its investment in the new energy industry, which will be negative for fossil energy.</b></p><p>Biden has nominated former Secretary of State John Kerry as the \"Presidential Climate Envoy\", expressed his willingness to re-sign and abide by the Paris Climate Agreement, and promised to invest $2 trillion within four years to fight climate change.</p><p>On the one hand, Biden supports the development of the new energy vehicle industry and proposes to establish 500,000 electric vehicle charging piles across the country, and the government will purchase 3 million new energy vehicles, striving to enable the United States to achieve a 100% clean energy economy and zero net carbon emissions by 2050. On the other hand, Biden has previously proposed that although he will not completely ban the exploitation of shale oil, he will stop new exploitation projects in the United States, which may have a certain negative impact on the fossil energy industry.</p><p><b>Impact 6: Investigate the monopolistic behavior of technology companies, and global technology leaders are under pressure. The implementation of Obama's Affordable Health Insurance Act has limited the development space of drug and medical service providers.</b></p><p>In terms of technology, Biden advocates investigating the monopolistic behavior of technology companies, which may put pressure on some global technology leaders. However, it is expected that its antitrust measures will be limited at best to restricting future acquisitions, rather than forcing the giants to split. In response to antitrust, Biden proposed to invest US $300 billion to support advanced materials, biomedicine, clean energy,<a href=\"https://laohu8.com/S/000901\">Aerospace Science and Technology</a>And artificial intelligence to encourage the tech industry to compete and thrive.</p><p>In terms of medical care, Biden advocates protecting and expanding Obama's Affordable Health Care Act, which plans to provide insurance for more than 97% of Americans. In the long run, if the political proposition of expanding the scope of medical insurance and increasing social welfare is passed, the development space of drug and medical service providers will be limited, and the income and profits of related pharmaceutical companies will also be impacted to a certain extent. But in the short term, considering that the U.S. economy is still hit by the epidemic, Biden may choose to take the lead in implementing some of the adopted plans, such as lowering the price of generic drugs.</p><p><b>Sino-US relations</b></p><p><b>Impact 7: Overthrow Trump's foreign policy proposition, from \"withdrawing from the group\" to \"joining the group\", and lead the United States back to the international framework of multilateralism.</b></p><p>As an establishment politician who has served on the Senate Foreign Relations Committee for a long time, Biden has always adhered to multilateralism. He has made a commitment to return to the Paris Agreement, and also expressed his hope to return to the World Health Organization, or he will return to the CPTPP by renegotiation, and supports the resumption of the 2015 Iranian nuclear deal. After Biden takes office, he is expected to make strengthening or repairing alliances his main task.</p><p>In Europe, he has confirmed with leaders of major European countries that he will cooperate in areas such as security and climate change to revive the \"cross-country\" that he withdrew during the Trump administration<a href=\"https://laohu8.com/S/600558\">Atlantic</a>Partnership \". In the Asia-Pacific region, Biden said he would be \"firmly committed to building a strong South Korea-US alliance and a peaceful and prosperous Korean Peninsula.\" In a phone call with the new Japanese Prime Minister Yoshihide Suga, he also emphasized the joint establishment of a \"free and open Indo-Pacific.\"</p><p>In terms of diplomacy with China, the Biden administration will strengthen so-called \"values\" diplomacy such as * rights and human rights. Being tough on China will not be Biden's top priority, but will more serve as a shield derived from the weak domestic economic recovery. Blinken, the new Secretary of State, supports the \"return to Asia-Pacific\" strategy of the Obama era and emphasizes the construction of the so-called \"* alliance of countries\" to contain Chinese development.</p><p>Biden may increase the U.S. military presence in the Asia-Pacific region. During his term of office, the Trump administration not only failed to launch any war, but also withdrew troops from all over the world. Biden may continue the Obama administration's strategy of returning to the Asia-Pacific region and increase military deployment in East Asia.</p><p><b>Impact 8: Tariffs on China will not be cancelled in the short term, but we may use tariff reduction as a \"bargaining chip\" to negotiate with China.</b></p><p>On December 2, Biden said that he would not take immediate action on tariffs on China and hoped to conduct a comprehensive review of existing trade agreements first. Biden does not advocate using tariffs to exert pressure on other countries, and once criticized that \"the only people who pay the price for the trade war are American farmers and workers\". In addition, Biden has previously made a commitment to reduce trade barriers and proposed to negotiate with China through U.S. allies and international mechanisms.</p><p>Therefore, Biden is more likely to use tariff reduction and the purchase of commodities such as soybeans as \"bargaining chips\" to negotiate with China, trying to obtain concessions from China in areas such as intellectual property protection, so-called subsidies for state-owned enterprises, and related competitive neutrality.</p><p><b>Impact 9: The field of science and technology will remain tough on China, and will unite allies to put pressure on China.</b></p><p>The United States hopes to maintain its absolute leadership in the field of science and technology, and Biden will also maintain a tough stance towards China in terms of technological innovation and related industrial policies. First, continue to seize the issue of so-called subsidies for state-owned enterprises, believing that state-owned enterprises have so-called unfair advantages and will dominate future technologies and industries. Second, he places great emphasis on the protection of intellectual property rights. He believes that if no measures are taken, \"China will continue to rob the technology of the United States and American companies\".</p><p>The technology sanctions introduced by the Trump administration will not be lifted immediately by the Biden administration. The technological competition between China and the United States will continue, but the means will change. On the one hand, Biden will increase support for domestic technology research and development; on the other hand, he will put pressure on China within the framework of international trade rules, and sanctions that abuse national security as an excuse may be reduced.</p><p>Especially in the field of \"nuclear high-tech\", the Biden administration will not relax compared with Trump, and will even unite allies to put pressure on Chinese technology companies. For example, Blinken said that in terms of 5G, the United States must work with allies to develop common policies on export controls, investment restrictions and technical standards to ensure what is called \"an ecosystem that protects and promotes the values of free *.\"</p><p><b>Impact 10: Tightening supervision is expected to accelerate the return of Chinese concept stocks, and the Hong Kong market will benefit from it. 2024 is the last critical time.</b></p><p>Chinese-funded enterprises are subject to higher thresholds for listing in the United States. On December 3, the Foreign Company Accountability Act was passed by the House of Representatives. According to the content of the bill, if it fails to pass the audit of PCAOB (Accounting Oversight Board of Listed Companies) for three consecutive years, it will be banned from trading on national exchanges. The bill also requires listed companies to disclose whether they are owned or controlled by foreign governments within 90 days. If the bill takes effect before the end of the year, it is expected that Chinese concept stocks that do not meet the requirements will be banned from trading around the second quarter of 2024.</p><p>The stable Hong Kong and innovative Hong Kong capital market may receive more dividends from the return of Chinese concept stocks. The introduction and subsequent strict implementation of the National Security Law have prevented Hong Kong from being excessively interfered by internal riots and external anti-China forces; The construction of the Guangdong-Hong Kong-Macau Greater Bay Area will also deepen cooperation and bring new development impetus to Hong Kong.</p><p>Domestic and Offshore Capital Markets in Hong Kong<a href=\"https://laohu8.com/S/HUBG\">hub</a>The role has become increasingly prominent. On the one hand, Chinese concept stocks with different rights for the same stock and secondary listing regard the Hong Kong stock market as the first choice for returning. The Hang Seng Index allows relevant Chinese concept stocks to be included, which further stimulates market enthusiasm. On the other hand, the interconnection mechanism between mainland and Hong Kong has been gradually improved, science and technology innovation board stocks have been included in Shanghai-Hong Kong Stock Connect, and ETF Connect, Bond Connect and Wealth Management Connect are also being accelerated. The financial products of the two places will be more abundant and the financial market will be more mature.</p>\n<div class=\"bt-text\">\n\n\n<p> source:<a href=\"https://mp.weixin.qq.com/s/dHIKGyDdS2jjLZjra3WUGA\">中信证券</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/624921527d4ed6206eb4690ca02e1218","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://mp.weixin.qq.com/s/dHIKGyDdS2jjLZjra3WUGA","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177921596","content_text":"宏观政策\n影响一:疫情防控成为首要任务,预计美国经济将于明年下半年开启快速复苏。\n北半球入冬后,美国每日新增病例达到20万例左右。与特朗普急于推动经济重启而刻意淡化疫情,导致大范围蔓延不同,拜登极为重视疫情防控。他主张将测试站点加倍,并为所有人免费检测;加快疫苗生产,并确保疫苗资源的公平获取;提高口罩等个人防护设备的生产,并要求各州强制戴口罩。\n近期疫苗利好消息频传,一旦拜登的各项防控计划得以落地,预计美国经济将于明年下半年开启快速复苏。一方面,材料、工业、旅游、交运等周期行业将得以修复;另一方面,持续的医疗资源投入会利好相关的医疗服务与制造领域。\n影响二:新一轮财政援助或分两步走,中长期将维持超宽松和超低利率环境,预计加息的时点最早要到2023年。\n今年5月,民主党发布3.4万亿美元的“英雄法案”(HEROES ACT)并获众议院通过,但受阻于参议院。9月,民主党再次提出2.2万亿美元的“瘦身”方案,仍未能与共和党达成一致。\n考虑到拜登有36年的参议员经验,跨党派协商能力较强,今年年底或明年年初,美国或先通过一轮规模在5000亿至1万亿美元之间、主要针对失业人群和中小企业的财政援助;而在拜登上台后,或推出另外一轮针对州和地方政府的财政援助。两轮援助的合计体量预计达2万亿美元左右,但第二轮的可行性和规模很大程度取决于未来美国参议院的控制权。\n预计明年美国财政赤字率仍将高达8.6%,显著高于历史均值水平。拜登已提名前任美联储主席耶伦为美国新任财长候选人,由于“鸽派”的耶伦更加重视美国经济的就业疲弱及经济乏力问题,而非过度关注通胀,因此预计财政货币化的趋势将延续。\n耶伦的上台将有助于财政部及美联储维系“宽财政+松货币”的政策组合。预计美国将中长期维持超宽松和超低利率环境。具体来看,美联储将继续聚焦恢复就业,锚定长期通胀预期在2% 的水平,维护金融体系稳定性。\n2021年预计扩表规模将达9000亿-1.5万亿美元左右,而最早加息的时间点可能要到2023年。\n影响三:中小企业、低收入人群将受到更多政策关注,依靠加税支撑政府支出、缓解赤字压力。\n作为民主党的代表,拜登更加关注中产阶级、低收入群体和中小企业的利益,主张通过更高额的公共支出和更强硬的税收调节缩小贫富差距,拜登的加税主张可能遭到参议院阻碍,能否落地有待观察。\n拜登提出“转移支付”的再分配改革计划。尽管拜登主张增加基建投资及采购支出,但也兼顾控制政府债务,也就是要通过加税来增加政府支出和控制长期赤字。具体看,他提出提高个税最高档税率至39.6%,名义企业所得税率也将从当前的21%提升至28%。\n若拜登的税收计划均能得以实现,未来十年美国财政收入预计将累计增加3.4-3.7万亿美元,相当于GDP的1.3%-1.4%,这将有效缓解美国财政赤字压力。但考虑到潜在的税收优惠政策和抵扣项,实际所得税率或仅提升3-4个百分点。对于盈利能力较强,特别是杠杆率较低的美股大盘蓝筹企业,对利润和中长期成长性的影响预计有限。\n产业发展\n影响四:继续支持美国制造业重振,将启动“买美国货”计划。\n拜登同样积极呼吁生产制造回流美国。他还将利用扩大信贷额度、制造业专项税收抵免和扩展合作伙伴计划,来增强美国中小制造企业的竞争力。他也承诺将在第一届任期内,斥资4000亿美元采购美国商品与服务,并将创造500万个就业机会。\n另外,拜登提出10年1.3万亿美元的基建投资计划,主要包括交通、能源、水利等领域,这些举措也将增加对美国产品、材料和服务的需求。\n影响五:“清洁能源革命”计划启动,美国将加码新能源产业,利空化石能源。\n拜登已提名前国务卿约翰·克里为“总统气候特使”,表态愿重签和遵守巴黎气候协定,并承诺在4年内投资2万亿美元以对抗气候变化。\n一方面,拜登支持新能源汽车产业发展,提出在全国建立50万座电动车充电桩,政府采购300万台新能源车,力争使美国在2050年之前实现100% 清洁能源经济和零净碳排放。另一方面,拜登此前提出,虽不会全面禁止开采页岩油,但会停止在美国境内的新开采项目,这可能会对化石能源行业产生一定负面影响。\n影响六:调查科技企业的垄断行为,全球科技龙头面临压力。落实奥巴马的平价医保法案,药物和医疗服务提供商的发展空间受限。\n科技方面,拜登主张调查科技企业的垄断行为,这或将对一些全球科技龙头造成压力。但预计其反垄断措施最多局限于限制未来的收购行为,而不会强迫要求巨头拆分。与反垄断对应,拜登提出将投入3000亿美元用于支持先进材料、生物医药、清洁能源、航天科技和人工智能等前沿领域,以鼓励科技行业竞争和蓬勃发展。\n医疗方面,拜登主张保护并扩大奥巴马的平价医保法案,计划为超过97%的美国人提供保险。长期来看,扩大医保范围、增加社会福利的政治主张若得以通过,药物和医疗服务提供商的发展空间将受限,相关医药企业的收入和盈利也会受到一定冲击。但短期来看,考虑到美国经济仍受疫情冲击,拜登或选择率先落实部分已通过的方案,如降低仿制药品的价格等。\n中美关系\n影响七:推翻特朗普的外交政策主张,从“退群”到“入群”,带领美国重新回到多边主义的国际框架中。\n作为曾长期任职于参议院外交关系委员会的建制派政治家,拜登始终坚持多边主义。他已经做出了重回《巴黎协定》的承诺,也表态希望重返世界卫生组织,或将以重新谈判的方式重返CPTPP,并支持恢复2015年伊核协议。拜登上台后,预计将把增强或修复盟友关系当作主要任务。\n欧洲方面,他已与欧洲主要国家领导人确认将在安全保障和气候变化等领域进行合作,重振特朗普执政时期退出的“跨大西洋伙伴关系”。亚太方面,拜登称将“坚定地致力于建立强大的韩美同盟以及和平繁荣的朝鲜半岛”,还在与日本新任首相菅义伟的通话中,强调共同建立“自由而开放的印太”。\n在对华外交方面,拜登政府将强化所谓民主和人权等“价值观”外交,对华强硬不会是拜登的首要任务,更多是作为内政经济复苏不力而衍生出的挡箭牌。新任国务卿布林肯支持奥巴马时期的“重返亚太”战略,强调构建所谓“民主国家联盟”以遏制中国发展。\n拜登可能将增加美国在亚太地区的军事存在。特朗普政府任内不仅没有发动任何一场战争,反而在从全球撤军。而拜登可能会延续奥巴马政府时期的重返亚太战略,增加在东亚地区的军事部署。\n影响八:短期并不会取消对华关税,但可能会以降低关税为“筹码”与中国进行谈判。\n12月2日,拜登称不会在对华关税上立即采取行动,希望首先对现有的贸易协定进行全面审查。拜登并不主张用关税对其他国家施加压力,并曾抨击,“唯一为贸易战付出代价的是美国农民和工人”。另外,拜登此前也做出减少贸易壁垒的承诺,并提出通过美国的盟友与国际机制来与中国进行协商谈判。\n因此,拜登更可能以降低关税和大豆等商品的采购为“筹码”与中国进行谈判,试图在知识产权保护、所谓国企补贴及相关的竞争中性等领域获取中国的让步。\n影响九:科技领域仍将保持对华强硬,并将联合盟友施压中国。\n美国希望维持在科技领域的绝对领导地位,拜登在科技创新及相关产业政策方面,同样将保持对华的强硬立场。一是继续抓住所谓国企补贴的问题,认为国有企业拥有所谓不公平的优势,并将主导未来的技术和产业。二是极度强调知识产权保护,他认为如不采取措施,“中国将继续抢夺美国和美国公司的技术”。\n特朗普政府出台的科技制裁措施不会被拜登政府马上解除,中美科技竞争的局面会延续,但手段会发生变化。拜登一方面将加大对本国技术研发的支持力度,另一方面将在国际贸易规则框架下对华施压,滥用国家安全为借口的制裁行为或将减少。\n尤其在“核高基”领域,拜登政府并不会较特朗普有所缓和,甚至将联合盟友共同对中国科技企业施压。例如,布林肯称5G方面,美国必须与盟国合作,制定有关出口管制、投资限制和技术标准的共同政策,以确保所谓“保护和促进自由民主价值观的生态系统”。\n影响十:监管趋严预计将加速中概股回归,香港市场将从中受益,2024年是最后的关键时点。\n中资企业在美上市被设下更高门槛。12月3日,《外国公司担责法案》获众议院通过。根据法案内容,若连续三年无法通过PCAOB(上市公司会计监督委员会)的审计,将被禁止在全美交易所交易。该法案还要求90天内,上市公司需披露其是否受外国政府拥有或控制。若法案在年底前生效,预计不符合要求的中概股将在2024年二季度左右被禁止交易。\n稳定的香港与创新的香港资本市场或将更多承接中概股回归红利。《国安法》的推出与后续严格实行,使香港不再过多受到内部骚乱及外部反华势力干扰;粤港澳大湾区的建设也将深化合作,为香港带来新的发展动力。\n香港资本市场的境内外枢纽作用愈发突出,一方面,同股不同权、二次上市的中概股把港股市场看作回归首选,恒指允许相关中概股纳入也进一步激发市场热情。另一方面,陆港两地互联互通机制逐步完善,科创板股票被纳入沪港通,ETF通、债券通、理财通也在加快推行,两地金融产品将更加丰富,金融市场将更趋成熟。","news_type":1,"symbols_score_info":{".SPX":0.9,"SPY":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1707,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":398613143,"gmtCreate":1606886774982,"gmtModify":1704967559289,"author":{"id":"3568636259241053","authorId":"3568636259241053","name":"木子望月","avatar":"https://static.tigerbbs.com/3f87ec2f14e38ba9b809b6e3ab4907a0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568636259241053","authorIdStr":"3568636259241053"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/398613143","repostId":"398040025","repostType":1,"repost":{"id":398040025,"gmtCreate":1606801943561,"gmtModify":1704966970061,"author":{"id":"126199392658083","authorId":"126199392658083","name":"机构有话说","avatar":"https://static.tigerbbs.com/d8a79f8da6559cae9d644c1c24d24737","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"126199392658083","authorIdStr":"126199392658083"},"themes":[],"htmlText":"\n \n \n <a href=\"https://laohu8.com/FUT/NQmain\">$NQ100指數主連(NQmain)$</a> <a href=\"https://laohu8.com/FUT/ESmain\">$SP500指數主連(ESmain)$</a> <a href=\"https://laohu8.com/FUT/YMmain\">$道瓊斯指數主連(YMmain)$</a> <a href=\"https://laohu8.com/FUT/GCmain\">$黃金主連(GCmain)$</a> <a href=\"https://laohu8.com/FUT/SImain\">$白銀主連(SImain)$</a> 期貨基礎知識系列視頻課第四:什麼是最小報價波幅,這些動畫簡單易懂,又非常有趣。3分鐘聽完,收穫一定不小。\n \n","listText":"<a href=\"https://laohu8.com/FUT/NQmain\">$NQ100指數主連(NQmain)$</a> <a href=\"https://laohu8.com/FUT/ESmain\">$SP500指數主連(ESmain)$</a> <a href=\"https://laohu8.com/FUT/YMmain\">$道瓊斯指數主連(YMmain)$</a> <a href=\"https://laohu8.com/FUT/GCmain\">$黃金主連(GCmain)$</a> <a href=\"https://laohu8.com/FUT/SImain\">$白銀主連(SImain)$</a> 期貨基礎知識系列視頻課第四:什麼是最小報價波幅,這些動畫簡單易懂,又非常有趣。3分鐘聽完,收穫一定不小。","text":"$NQ100指數主連(NQmain)$ $SP500指數主連(ESmain)$ $道瓊斯指數主連(YMmain)$ $黃金主連(GCmain)$ $白銀主連(SImain)$ 期貨基礎知識系列視頻課第四:什麼是最小報價波幅,這些動畫簡單易懂,又非常有趣。3分鐘聽完,收穫一定不小。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/398040025","isVote":1,"tweetType":2,"object":{"id":"d9fd1b6485ed44b98256c5975c4b126f","tweetId":"398040025","title":"期货合约全解析:最小报价波幅--更多内容访问老虎股票学院","videoUrl":"https://1254107296.vod2.myqcloud.com/73ba5544vodgzp1254107296/4e12ff885285890806200505686/23XcNw6jcBYA.mp4","poster":"https://static.tigerbbs.com/662c3b04807c4c1489741a254d24c869","shareLink":"https://laohu8.com/VIDEO/C20190129035545380/20190129063502013"},"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1504,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":182145489,"gmtCreate":1623559799941,"gmtModify":1704206194649,"author":{"id":"3568636259241053","authorId":"3568636259241053","name":"木子望月","avatar":"https://static.tigerbbs.com/3f87ec2f14e38ba9b809b6e3ab4907a0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568636259241053","authorIdStr":"3568636259241053"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/182145489","repostId":"188899806","repostType":1,"repost":{"id":188899806,"gmtCreate":1623426868205,"gmtModify":1704203516628,"author":{"id":"3494282548206344","authorId":"3494282548206344","name":"李菲特","avatar":"https://static.tigerbbs.com/400c37df7718cdcde0948e6e9b83f30c","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3494282548206344","authorIdStr":"3494282548206344"},"themes":[],"htmlText":"來老虎也才3年,當初是爲了小米來的,結果好傢伙套到我懷疑人生,那時候嫌棄入金太麻煩,於是就全心全意的養基跟在大A股廝殺,後面有一天晚上打開老虎看看自己賬戶,看着看着,腦子裏突然靈光一閃,自己用着老虎,那麼全球有多少都用老虎在進行資產配置,我爲啥不投資點老虎股票呢?然後就有了5刀多的時候買入老虎,然後小老虎就果真一路跳躍,期間又在2刀的時候買了趣頭條賺了點,唯有老虎一直持有。可以這麼說,我的賬戶是一路騎着老虎最高衝到了7倍多,雖然現在回撤到了3倍多,但我依然覺得老虎大有可爲,應該也會一直持有下去,並開始逐步將加大老虎賬戶的資金配置,希望以後能夠一直很老虎走下去,也期待着老虎的港股牌照,期待着老虎更加國際化 老虎加油 各位虎友加油 ","listText":"來老虎也才3年,當初是爲了小米來的,結果好傢伙套到我懷疑人生,那時候嫌棄入金太麻煩,於是就全心全意的養基跟在大A股廝殺,後面有一天晚上打開老虎看看自己賬戶,看着看着,腦子裏突然靈光一閃,自己用着老虎,那麼全球有多少都用老虎在進行資產配置,我爲啥不投資點老虎股票呢?然後就有了5刀多的時候買入老虎,然後小老虎就果真一路跳躍,期間又在2刀的時候買了趣頭條賺了點,唯有老虎一直持有。可以這麼說,我的賬戶是一路騎着老虎最高衝到了7倍多,雖然現在回撤到了3倍多,但我依然覺得老虎大有可爲,應該也會一直持有下去,並開始逐步將加大老虎賬戶的資金配置,希望以後能夠一直很老虎走下去,也期待着老虎的港股牌照,期待着老虎更加國際化 老虎加油 各位虎友加油 ","text":"來老虎也才3年,當初是爲了小米來的,結果好傢伙套到我懷疑人生,那時候嫌棄入金太麻煩,於是就全心全意的養基跟在大A股廝殺,後面有一天晚上打開老虎看看自己賬戶,看着看着,腦子裏突然靈光一閃,自己用着老虎,那麼全球有多少都用老虎在進行資產配置,我爲啥不投資點老虎股票呢?然後就有了5刀多的時候買入老虎,然後小老虎就果真一路跳躍,期間又在2刀的時候買了趣頭條賺了點,唯有老虎一直持有。可以這麼說,我的賬戶是一路騎着老虎最高衝到了7倍多,雖然現在回撤到了3倍多,但我依然覺得老虎大有可爲,應該也會一直持有下去,並開始逐步將加大老虎賬戶的資金配置,希望以後能夠一直很老虎走下去,也期待着老虎的港股牌照,期待着老虎更加國際化 老虎加油 各位虎友加油","images":[{"img":"https://static.tigerbbs.com/2a23621b17b7b5a76fb69dfd62f9dcd8","width":"752","height":"380"}],"top":1,"highlighted":2,"essential":2,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/188899806","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":2,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2577,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":395685522,"gmtCreate":1607650082566,"gmtModify":1704971504451,"author":{"id":"3568636259241053","authorId":"3568636259241053","name":"木子望月","avatar":"https://static.tigerbbs.com/3f87ec2f14e38ba9b809b6e3ab4907a0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568636259241053","authorIdStr":"3568636259241053"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/395685522","repostId":"1177921596","repostType":4,"repost":{"id":"1177921596","kind":"news","pubTimestamp":1607592487,"share":"https://ttm.financial/m/news/1177921596?lang=en_US&edition=fundamental","pubTime":"2020-12-10 17:28","market":"us","language":"zh","title":"Ten Implications of Biden's New Deal","url":"https://stock-news.laohu8.com/highlight/detail?id=1177921596","media":"中信证券","summary":"宏观政策\n影响一:疫情防控成为首要任务,预计美国经济将于明年下半年开启快速复苏。\n北半球入冬后,美国每日新增病例达到20万例左右。与特朗普急于推动经济重启而刻意淡化疫情,导致大范围蔓延不同,拜登极为重","content":"<p><b>Macro policy</b></p><p><b>Impact 1: Epidemic prevention and control has become the top priority, and the U.S. economy is expected to start a rapid recovery in the second half of next year.</b></p><p>After winter in the northern hemisphere, the number of new cases in the United States reached about 200,000 every day. Unlike Trump's eagerness to promote economic restart and deliberately downplaying the epidemic, which led to widespread spread, Biden attaches great importance to epidemic prevention and control. He advocates doubling testing sites and making testing free for all; Accelerate vaccine production and ensure equitable access to vaccine resources; Raise production of personal protective equipment such as masks and require states to make mask-wearing mandatory.</p><p>Recently, good news about vaccines has spread frequently. Once Biden's various prevention and control plans are implemented, it is expected that the U.S. economy will start a rapid recovery in the second half of next year. On the one hand, cyclical industries such as materials, industry, tourism, and transportation will be repaired; On the other hand, continuous investment in medical resources will benefit related medical services and manufacturing fields.</p><p><b>Impact 2: The new round of financial assistance may be carried out in two steps. The ultra-loose and ultra-low interest rate environment will be maintained in the medium and long term. It is expected that the rate hike will be until 2023 at the earliest.</b></p><p>In May this year, the Democratic Party released the $3.4 trillion \"HEROES ACT\" and was passed by the House of Representatives, but blocked by the Senate. In September, the Democratic Party once again proposed a $2.2 trillion \"slimming\" plan, but still failed to reach an agreement with the Republican Party.</p><p>Considering that Biden has 36 years of experience as a senator and strong cross-party negotiation ability, at the end of this year or early next year, the United States may first pass a round of financial assistance with a scale between 500 billion and 1 trillion US dollars, mainly targeting the unemployed and small and medium-sized enterprises; After Biden takes office, another round of financial assistance for state and local governments may be launched. The total volume of the two rounds of aid is expected to reach about $2 trillion, but the feasibility and scale of the second round largely depend on the future control of the U.S. Senate.</p><p>It is expected that the U.S. fiscal deficit ratio will remain as high as 8.6% next year, significantly higher than the historical average. Biden has nominated former Federal Reserve Chairman Yellen as the candidate for the new U.S. Treasury Secretary. Since the \"dovish\" Yellen pays more attention to the weak employment and economic weakness of the U.S. economy rather than paying too much attention to inflation, it is expected that the trend of fiscal monetization will continue.</p><p>Yellen's coming to power will help the Ministry of Finance and the Federal Reserve maintain the policy combination of \"loose finance + loose money\". It is expected that the United States will maintain an ultra-loose and ultra-low interest rate environment in the medium and long term. Specifically, the Federal Reserve will continue to focus on restoring employment, anchor long-term inflation expectations at 2%, and maintain the stability of the financial system.</p><p>In 2021, it is expected that the scale of balance sheet expansion will reach about 900 billion to 1.5 trillion US dollars, and the earliest time point for rate hike may be 2023.</p><p><b>Impact 3: Small and medium-sized enterprises and low-income people will receive more policy attention, relying on tax increases to support government spending and ease deficit pressure.</b></p><p>As a representative of the Democratic Party, Biden pays more attention to the interests of the middle class, low-income groups and small and medium-sized enterprises, and advocates narrowing the gap between the rich and the poor through higher public expenditures and tougher tax adjustments. Biden's tax increase proposal may be blocked by the Senate. It remains to be seen whether it can be implemented.</p><p>Biden proposed a redistribution reform plan of \"transfer payments\". Although Biden advocates increasing infrastructure investment and procurement spending, he also takes into account controlling government debt, that is, increasing government spending and controlling long-term deficits through tax increases. Specifically, he proposed to raise the highest tax rate to 39.6%, and the nominal corporate income tax rate will also be raised from the current 21% to 28%.</p><p>If Biden's tax plans can be realized, U.S. fiscal revenue is expected to increase by 3.4-3.7 trillion U.S. dollars in the next ten years, equivalent to 1.3%-1.4% of GDP, which will effectively alleviate the pressure on the U.S. fiscal deficit. However, considering the potential preferential tax policies and deductions, the actual income tax rate may only increase by 3-4 percentage points. For blue-chip companies in the U.S. stock market with strong profitability, especially low leverage ratios, the impact on profits and medium-and long-term growth is expected to be limited.</p><p><b>INDUSTRY DEVELOPMENT</b></p><p><b>Impact 4: Continue to support the revitalization of the U.S. manufacturing industry and launch the \"Buy American\" program.</b></p><p>Biden also actively called for manufacturing to be returned to the United States. He will also use the expanded line of credit, special tax credits for manufacturing and the expanded partnership program to enhance the competitiveness of small and medium-sized manufacturing enterprises in the United States. He also promised to spend $400 billion on American goods and services during his first term, and will create 5 million jobs.</p><p>In addition, Biden proposed a 10-year infrastructure investment plan of US $1.3 trillion, mainly including transportation, energy, water conservancy and other fields. These measures will also increase demand for American products, materials and services.</p><p><b>Impact 5: The \"Clean Energy Revolution\" plan is launched, and the United States will increase its investment in the new energy industry, which will be negative for fossil energy.</b></p><p>Biden has nominated former Secretary of State John Kerry as the \"Presidential Climate Envoy\", expressed his willingness to re-sign and abide by the Paris Climate Agreement, and promised to invest $2 trillion within four years to fight climate change.</p><p>On the one hand, Biden supports the development of the new energy vehicle industry and proposes to establish 500,000 electric vehicle charging piles across the country, and the government will purchase 3 million new energy vehicles, striving to enable the United States to achieve a 100% clean energy economy and zero net carbon emissions by 2050. On the other hand, Biden has previously proposed that although he will not completely ban the exploitation of shale oil, he will stop new exploitation projects in the United States, which may have a certain negative impact on the fossil energy industry.</p><p><b>Impact 6: Investigate the monopolistic behavior of technology companies, and global technology leaders are under pressure. The implementation of Obama's Affordable Health Insurance Act has limited the development space of drug and medical service providers.</b></p><p>In terms of technology, Biden advocates investigating the monopolistic behavior of technology companies, which may put pressure on some global technology leaders. However, it is expected that its antitrust measures will be limited at best to restricting future acquisitions, rather than forcing the giants to split. In response to antitrust, Biden proposed to invest US $300 billion to support advanced materials, biomedicine, clean energy,<a href=\"https://laohu8.com/S/000901\">Aerospace Science and Technology</a>And artificial intelligence to encourage the tech industry to compete and thrive.</p><p>In terms of medical care, Biden advocates protecting and expanding Obama's Affordable Health Care Act, which plans to provide insurance for more than 97% of Americans. In the long run, if the political proposition of expanding the scope of medical insurance and increasing social welfare is passed, the development space of drug and medical service providers will be limited, and the income and profits of related pharmaceutical companies will also be impacted to a certain extent. But in the short term, considering that the U.S. economy is still hit by the epidemic, Biden may choose to take the lead in implementing some of the adopted plans, such as lowering the price of generic drugs.</p><p><b>Sino-US relations</b></p><p><b>Impact 7: Overthrow Trump's foreign policy proposition, from \"withdrawing from the group\" to \"joining the group\", and lead the United States back to the international framework of multilateralism.</b></p><p>As an establishment politician who has served on the Senate Foreign Relations Committee for a long time, Biden has always adhered to multilateralism. He has made a commitment to return to the Paris Agreement, and also expressed his hope to return to the World Health Organization, or he will return to the CPTPP by renegotiation, and supports the resumption of the 2015 Iranian nuclear deal. After Biden takes office, he is expected to make strengthening or repairing alliances his main task.</p><p>In Europe, he has confirmed with leaders of major European countries that he will cooperate in areas such as security and climate change to revive the \"cross-country\" that he withdrew during the Trump administration<a href=\"https://laohu8.com/S/600558\">Atlantic</a>Partnership \". In the Asia-Pacific region, Biden said he would be \"firmly committed to building a strong South Korea-US alliance and a peaceful and prosperous Korean Peninsula.\" In a phone call with the new Japanese Prime Minister Yoshihide Suga, he also emphasized the joint establishment of a \"free and open Indo-Pacific.\"</p><p>In terms of diplomacy with China, the Biden administration will strengthen so-called \"values\" diplomacy such as * rights and human rights. Being tough on China will not be Biden's top priority, but will more serve as a shield derived from the weak domestic economic recovery. Blinken, the new Secretary of State, supports the \"return to Asia-Pacific\" strategy of the Obama era and emphasizes the construction of the so-called \"* alliance of countries\" to contain Chinese development.</p><p>Biden may increase the U.S. military presence in the Asia-Pacific region. During his term of office, the Trump administration not only failed to launch any war, but also withdrew troops from all over the world. Biden may continue the Obama administration's strategy of returning to the Asia-Pacific region and increase military deployment in East Asia.</p><p><b>Impact 8: Tariffs on China will not be cancelled in the short term, but we may use tariff reduction as a \"bargaining chip\" to negotiate with China.</b></p><p>On December 2, Biden said that he would not take immediate action on tariffs on China and hoped to conduct a comprehensive review of existing trade agreements first. Biden does not advocate using tariffs to exert pressure on other countries, and once criticized that \"the only people who pay the price for the trade war are American farmers and workers\". In addition, Biden has previously made a commitment to reduce trade barriers and proposed to negotiate with China through U.S. allies and international mechanisms.</p><p>Therefore, Biden is more likely to use tariff reduction and the purchase of commodities such as soybeans as \"bargaining chips\" to negotiate with China, trying to obtain concessions from China in areas such as intellectual property protection, so-called subsidies for state-owned enterprises, and related competitive neutrality.</p><p><b>Impact 9: The field of science and technology will remain tough on China, and will unite allies to put pressure on China.</b></p><p>The United States hopes to maintain its absolute leadership in the field of science and technology, and Biden will also maintain a tough stance towards China in terms of technological innovation and related industrial policies. First, continue to seize the issue of so-called subsidies for state-owned enterprises, believing that state-owned enterprises have so-called unfair advantages and will dominate future technologies and industries. Second, he places great emphasis on the protection of intellectual property rights. He believes that if no measures are taken, \"China will continue to rob the technology of the United States and American companies\".</p><p>The technology sanctions introduced by the Trump administration will not be lifted immediately by the Biden administration. The technological competition between China and the United States will continue, but the means will change. On the one hand, Biden will increase support for domestic technology research and development; on the other hand, he will put pressure on China within the framework of international trade rules, and sanctions that abuse national security as an excuse may be reduced.</p><p>Especially in the field of \"nuclear high-tech\", the Biden administration will not relax compared with Trump, and will even unite allies to put pressure on Chinese technology companies. For example, Blinken said that in terms of 5G, the United States must work with allies to develop common policies on export controls, investment restrictions and technical standards to ensure what is called \"an ecosystem that protects and promotes the values of free *.\"</p><p><b>Impact 10: Tightening supervision is expected to accelerate the return of Chinese concept stocks, and the Hong Kong market will benefit from it. 2024 is the last critical time.</b></p><p>Chinese-funded enterprises are subject to higher thresholds for listing in the United States. On December 3, the Foreign Company Accountability Act was passed by the House of Representatives. According to the content of the bill, if it fails to pass the audit of PCAOB (Accounting Oversight Board of Listed Companies) for three consecutive years, it will be banned from trading on national exchanges. The bill also requires listed companies to disclose whether they are owned or controlled by foreign governments within 90 days. If the bill takes effect before the end of the year, it is expected that Chinese concept stocks that do not meet the requirements will be banned from trading around the second quarter of 2024.</p><p>The stable Hong Kong and innovative Hong Kong capital market may receive more dividends from the return of Chinese concept stocks. The introduction and subsequent strict implementation of the National Security Law have prevented Hong Kong from being excessively interfered by internal riots and external anti-China forces; The construction of the Guangdong-Hong Kong-Macau Greater Bay Area will also deepen cooperation and bring new development impetus to Hong Kong.</p><p>Domestic and Offshore Capital Markets in Hong Kong<a href=\"https://laohu8.com/S/HUBG\">hub</a>The role has become increasingly prominent. On the one hand, Chinese concept stocks with different rights for the same stock and secondary listing regard the Hong Kong stock market as the first choice for returning. The Hang Seng Index allows relevant Chinese concept stocks to be included, which further stimulates market enthusiasm. On the other hand, the interconnection mechanism between mainland and Hong Kong has been gradually improved, science and technology innovation board stocks have been included in Shanghai-Hong Kong Stock Connect, and ETF Connect, Bond Connect and Wealth Management Connect are also being accelerated. The financial products of the two places will be more abundant and the financial market will be more mature.</p>","source":"zxzqyj","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>Ten Implications of Biden's New Deal</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\">\nTen Implications of Biden's New Deal\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">中信证券</strong><span class=\"h-time small\">2020-12-10 17:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Macro policy</b></p><p><b>Impact 1: Epidemic prevention and control has become the top priority, and the U.S. economy is expected to start a rapid recovery in the second half of next year.</b></p><p>After winter in the northern hemisphere, the number of new cases in the United States reached about 200,000 every day. Unlike Trump's eagerness to promote economic restart and deliberately downplaying the epidemic, which led to widespread spread, Biden attaches great importance to epidemic prevention and control. He advocates doubling testing sites and making testing free for all; Accelerate vaccine production and ensure equitable access to vaccine resources; Raise production of personal protective equipment such as masks and require states to make mask-wearing mandatory.</p><p>Recently, good news about vaccines has spread frequently. Once Biden's various prevention and control plans are implemented, it is expected that the U.S. economy will start a rapid recovery in the second half of next year. On the one hand, cyclical industries such as materials, industry, tourism, and transportation will be repaired; On the other hand, continuous investment in medical resources will benefit related medical services and manufacturing fields.</p><p><b>Impact 2: The new round of financial assistance may be carried out in two steps. The ultra-loose and ultra-low interest rate environment will be maintained in the medium and long term. It is expected that the rate hike will be until 2023 at the earliest.</b></p><p>In May this year, the Democratic Party released the $3.4 trillion \"HEROES ACT\" and was passed by the House of Representatives, but blocked by the Senate. In September, the Democratic Party once again proposed a $2.2 trillion \"slimming\" plan, but still failed to reach an agreement with the Republican Party.</p><p>Considering that Biden has 36 years of experience as a senator and strong cross-party negotiation ability, at the end of this year or early next year, the United States may first pass a round of financial assistance with a scale between 500 billion and 1 trillion US dollars, mainly targeting the unemployed and small and medium-sized enterprises; After Biden takes office, another round of financial assistance for state and local governments may be launched. The total volume of the two rounds of aid is expected to reach about $2 trillion, but the feasibility and scale of the second round largely depend on the future control of the U.S. Senate.</p><p>It is expected that the U.S. fiscal deficit ratio will remain as high as 8.6% next year, significantly higher than the historical average. Biden has nominated former Federal Reserve Chairman Yellen as the candidate for the new U.S. Treasury Secretary. Since the \"dovish\" Yellen pays more attention to the weak employment and economic weakness of the U.S. economy rather than paying too much attention to inflation, it is expected that the trend of fiscal monetization will continue.</p><p>Yellen's coming to power will help the Ministry of Finance and the Federal Reserve maintain the policy combination of \"loose finance + loose money\". It is expected that the United States will maintain an ultra-loose and ultra-low interest rate environment in the medium and long term. Specifically, the Federal Reserve will continue to focus on restoring employment, anchor long-term inflation expectations at 2%, and maintain the stability of the financial system.</p><p>In 2021, it is expected that the scale of balance sheet expansion will reach about 900 billion to 1.5 trillion US dollars, and the earliest time point for rate hike may be 2023.</p><p><b>Impact 3: Small and medium-sized enterprises and low-income people will receive more policy attention, relying on tax increases to support government spending and ease deficit pressure.</b></p><p>As a representative of the Democratic Party, Biden pays more attention to the interests of the middle class, low-income groups and small and medium-sized enterprises, and advocates narrowing the gap between the rich and the poor through higher public expenditures and tougher tax adjustments. Biden's tax increase proposal may be blocked by the Senate. It remains to be seen whether it can be implemented.</p><p>Biden proposed a redistribution reform plan of \"transfer payments\". Although Biden advocates increasing infrastructure investment and procurement spending, he also takes into account controlling government debt, that is, increasing government spending and controlling long-term deficits through tax increases. Specifically, he proposed to raise the highest tax rate to 39.6%, and the nominal corporate income tax rate will also be raised from the current 21% to 28%.</p><p>If Biden's tax plans can be realized, U.S. fiscal revenue is expected to increase by 3.4-3.7 trillion U.S. dollars in the next ten years, equivalent to 1.3%-1.4% of GDP, which will effectively alleviate the pressure on the U.S. fiscal deficit. However, considering the potential preferential tax policies and deductions, the actual income tax rate may only increase by 3-4 percentage points. For blue-chip companies in the U.S. stock market with strong profitability, especially low leverage ratios, the impact on profits and medium-and long-term growth is expected to be limited.</p><p><b>INDUSTRY DEVELOPMENT</b></p><p><b>Impact 4: Continue to support the revitalization of the U.S. manufacturing industry and launch the \"Buy American\" program.</b></p><p>Biden also actively called for manufacturing to be returned to the United States. He will also use the expanded line of credit, special tax credits for manufacturing and the expanded partnership program to enhance the competitiveness of small and medium-sized manufacturing enterprises in the United States. He also promised to spend $400 billion on American goods and services during his first term, and will create 5 million jobs.</p><p>In addition, Biden proposed a 10-year infrastructure investment plan of US $1.3 trillion, mainly including transportation, energy, water conservancy and other fields. These measures will also increase demand for American products, materials and services.</p><p><b>Impact 5: The \"Clean Energy Revolution\" plan is launched, and the United States will increase its investment in the new energy industry, which will be negative for fossil energy.</b></p><p>Biden has nominated former Secretary of State John Kerry as the \"Presidential Climate Envoy\", expressed his willingness to re-sign and abide by the Paris Climate Agreement, and promised to invest $2 trillion within four years to fight climate change.</p><p>On the one hand, Biden supports the development of the new energy vehicle industry and proposes to establish 500,000 electric vehicle charging piles across the country, and the government will purchase 3 million new energy vehicles, striving to enable the United States to achieve a 100% clean energy economy and zero net carbon emissions by 2050. On the other hand, Biden has previously proposed that although he will not completely ban the exploitation of shale oil, he will stop new exploitation projects in the United States, which may have a certain negative impact on the fossil energy industry.</p><p><b>Impact 6: Investigate the monopolistic behavior of technology companies, and global technology leaders are under pressure. The implementation of Obama's Affordable Health Insurance Act has limited the development space of drug and medical service providers.</b></p><p>In terms of technology, Biden advocates investigating the monopolistic behavior of technology companies, which may put pressure on some global technology leaders. However, it is expected that its antitrust measures will be limited at best to restricting future acquisitions, rather than forcing the giants to split. In response to antitrust, Biden proposed to invest US $300 billion to support advanced materials, biomedicine, clean energy,<a href=\"https://laohu8.com/S/000901\">Aerospace Science and Technology</a>And artificial intelligence to encourage the tech industry to compete and thrive.</p><p>In terms of medical care, Biden advocates protecting and expanding Obama's Affordable Health Care Act, which plans to provide insurance for more than 97% of Americans. In the long run, if the political proposition of expanding the scope of medical insurance and increasing social welfare is passed, the development space of drug and medical service providers will be limited, and the income and profits of related pharmaceutical companies will also be impacted to a certain extent. But in the short term, considering that the U.S. economy is still hit by the epidemic, Biden may choose to take the lead in implementing some of the adopted plans, such as lowering the price of generic drugs.</p><p><b>Sino-US relations</b></p><p><b>Impact 7: Overthrow Trump's foreign policy proposition, from \"withdrawing from the group\" to \"joining the group\", and lead the United States back to the international framework of multilateralism.</b></p><p>As an establishment politician who has served on the Senate Foreign Relations Committee for a long time, Biden has always adhered to multilateralism. He has made a commitment to return to the Paris Agreement, and also expressed his hope to return to the World Health Organization, or he will return to the CPTPP by renegotiation, and supports the resumption of the 2015 Iranian nuclear deal. After Biden takes office, he is expected to make strengthening or repairing alliances his main task.</p><p>In Europe, he has confirmed with leaders of major European countries that he will cooperate in areas such as security and climate change to revive the \"cross-country\" that he withdrew during the Trump administration<a href=\"https://laohu8.com/S/600558\">Atlantic</a>Partnership \". In the Asia-Pacific region, Biden said he would be \"firmly committed to building a strong South Korea-US alliance and a peaceful and prosperous Korean Peninsula.\" In a phone call with the new Japanese Prime Minister Yoshihide Suga, he also emphasized the joint establishment of a \"free and open Indo-Pacific.\"</p><p>In terms of diplomacy with China, the Biden administration will strengthen so-called \"values\" diplomacy such as * rights and human rights. Being tough on China will not be Biden's top priority, but will more serve as a shield derived from the weak domestic economic recovery. Blinken, the new Secretary of State, supports the \"return to Asia-Pacific\" strategy of the Obama era and emphasizes the construction of the so-called \"* alliance of countries\" to contain Chinese development.</p><p>Biden may increase the U.S. military presence in the Asia-Pacific region. During his term of office, the Trump administration not only failed to launch any war, but also withdrew troops from all over the world. Biden may continue the Obama administration's strategy of returning to the Asia-Pacific region and increase military deployment in East Asia.</p><p><b>Impact 8: Tariffs on China will not be cancelled in the short term, but we may use tariff reduction as a \"bargaining chip\" to negotiate with China.</b></p><p>On December 2, Biden said that he would not take immediate action on tariffs on China and hoped to conduct a comprehensive review of existing trade agreements first. Biden does not advocate using tariffs to exert pressure on other countries, and once criticized that \"the only people who pay the price for the trade war are American farmers and workers\". In addition, Biden has previously made a commitment to reduce trade barriers and proposed to negotiate with China through U.S. allies and international mechanisms.</p><p>Therefore, Biden is more likely to use tariff reduction and the purchase of commodities such as soybeans as \"bargaining chips\" to negotiate with China, trying to obtain concessions from China in areas such as intellectual property protection, so-called subsidies for state-owned enterprises, and related competitive neutrality.</p><p><b>Impact 9: The field of science and technology will remain tough on China, and will unite allies to put pressure on China.</b></p><p>The United States hopes to maintain its absolute leadership in the field of science and technology, and Biden will also maintain a tough stance towards China in terms of technological innovation and related industrial policies. First, continue to seize the issue of so-called subsidies for state-owned enterprises, believing that state-owned enterprises have so-called unfair advantages and will dominate future technologies and industries. Second, he places great emphasis on the protection of intellectual property rights. He believes that if no measures are taken, \"China will continue to rob the technology of the United States and American companies\".</p><p>The technology sanctions introduced by the Trump administration will not be lifted immediately by the Biden administration. The technological competition between China and the United States will continue, but the means will change. On the one hand, Biden will increase support for domestic technology research and development; on the other hand, he will put pressure on China within the framework of international trade rules, and sanctions that abuse national security as an excuse may be reduced.</p><p>Especially in the field of \"nuclear high-tech\", the Biden administration will not relax compared with Trump, and will even unite allies to put pressure on Chinese technology companies. For example, Blinken said that in terms of 5G, the United States must work with allies to develop common policies on export controls, investment restrictions and technical standards to ensure what is called \"an ecosystem that protects and promotes the values of free *.\"</p><p><b>Impact 10: Tightening supervision is expected to accelerate the return of Chinese concept stocks, and the Hong Kong market will benefit from it. 2024 is the last critical time.</b></p><p>Chinese-funded enterprises are subject to higher thresholds for listing in the United States. On December 3, the Foreign Company Accountability Act was passed by the House of Representatives. According to the content of the bill, if it fails to pass the audit of PCAOB (Accounting Oversight Board of Listed Companies) for three consecutive years, it will be banned from trading on national exchanges. The bill also requires listed companies to disclose whether they are owned or controlled by foreign governments within 90 days. If the bill takes effect before the end of the year, it is expected that Chinese concept stocks that do not meet the requirements will be banned from trading around the second quarter of 2024.</p><p>The stable Hong Kong and innovative Hong Kong capital market may receive more dividends from the return of Chinese concept stocks. The introduction and subsequent strict implementation of the National Security Law have prevented Hong Kong from being excessively interfered by internal riots and external anti-China forces; The construction of the Guangdong-Hong Kong-Macau Greater Bay Area will also deepen cooperation and bring new development impetus to Hong Kong.</p><p>Domestic and Offshore Capital Markets in Hong Kong<a href=\"https://laohu8.com/S/HUBG\">hub</a>The role has become increasingly prominent. On the one hand, Chinese concept stocks with different rights for the same stock and secondary listing regard the Hong Kong stock market as the first choice for returning. The Hang Seng Index allows relevant Chinese concept stocks to be included, which further stimulates market enthusiasm. On the other hand, the interconnection mechanism between mainland and Hong Kong has been gradually improved, science and technology innovation board stocks have been included in Shanghai-Hong Kong Stock Connect, and ETF Connect, Bond Connect and Wealth Management Connect are also being accelerated. The financial products of the two places will be more abundant and the financial market will be more mature.</p>\n<div class=\"bt-text\">\n\n\n<p> source:<a href=\"https://mp.weixin.qq.com/s/dHIKGyDdS2jjLZjra3WUGA\">中信证券</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/624921527d4ed6206eb4690ca02e1218","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://mp.weixin.qq.com/s/dHIKGyDdS2jjLZjra3WUGA","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177921596","content_text":"宏观政策\n影响一:疫情防控成为首要任务,预计美国经济将于明年下半年开启快速复苏。\n北半球入冬后,美国每日新增病例达到20万例左右。与特朗普急于推动经济重启而刻意淡化疫情,导致大范围蔓延不同,拜登极为重视疫情防控。他主张将测试站点加倍,并为所有人免费检测;加快疫苗生产,并确保疫苗资源的公平获取;提高口罩等个人防护设备的生产,并要求各州强制戴口罩。\n近期疫苗利好消息频传,一旦拜登的各项防控计划得以落地,预计美国经济将于明年下半年开启快速复苏。一方面,材料、工业、旅游、交运等周期行业将得以修复;另一方面,持续的医疗资源投入会利好相关的医疗服务与制造领域。\n影响二:新一轮财政援助或分两步走,中长期将维持超宽松和超低利率环境,预计加息的时点最早要到2023年。\n今年5月,民主党发布3.4万亿美元的“英雄法案”(HEROES ACT)并获众议院通过,但受阻于参议院。9月,民主党再次提出2.2万亿美元的“瘦身”方案,仍未能与共和党达成一致。\n考虑到拜登有36年的参议员经验,跨党派协商能力较强,今年年底或明年年初,美国或先通过一轮规模在5000亿至1万亿美元之间、主要针对失业人群和中小企业的财政援助;而在拜登上台后,或推出另外一轮针对州和地方政府的财政援助。两轮援助的合计体量预计达2万亿美元左右,但第二轮的可行性和规模很大程度取决于未来美国参议院的控制权。\n预计明年美国财政赤字率仍将高达8.6%,显著高于历史均值水平。拜登已提名前任美联储主席耶伦为美国新任财长候选人,由于“鸽派”的耶伦更加重视美国经济的就业疲弱及经济乏力问题,而非过度关注通胀,因此预计财政货币化的趋势将延续。\n耶伦的上台将有助于财政部及美联储维系“宽财政+松货币”的政策组合。预计美国将中长期维持超宽松和超低利率环境。具体来看,美联储将继续聚焦恢复就业,锚定长期通胀预期在2% 的水平,维护金融体系稳定性。\n2021年预计扩表规模将达9000亿-1.5万亿美元左右,而最早加息的时间点可能要到2023年。\n影响三:中小企业、低收入人群将受到更多政策关注,依靠加税支撑政府支出、缓解赤字压力。\n作为民主党的代表,拜登更加关注中产阶级、低收入群体和中小企业的利益,主张通过更高额的公共支出和更强硬的税收调节缩小贫富差距,拜登的加税主张可能遭到参议院阻碍,能否落地有待观察。\n拜登提出“转移支付”的再分配改革计划。尽管拜登主张增加基建投资及采购支出,但也兼顾控制政府债务,也就是要通过加税来增加政府支出和控制长期赤字。具体看,他提出提高个税最高档税率至39.6%,名义企业所得税率也将从当前的21%提升至28%。\n若拜登的税收计划均能得以实现,未来十年美国财政收入预计将累计增加3.4-3.7万亿美元,相当于GDP的1.3%-1.4%,这将有效缓解美国财政赤字压力。但考虑到潜在的税收优惠政策和抵扣项,实际所得税率或仅提升3-4个百分点。对于盈利能力较强,特别是杠杆率较低的美股大盘蓝筹企业,对利润和中长期成长性的影响预计有限。\n产业发展\n影响四:继续支持美国制造业重振,将启动“买美国货”计划。\n拜登同样积极呼吁生产制造回流美国。他还将利用扩大信贷额度、制造业专项税收抵免和扩展合作伙伴计划,来增强美国中小制造企业的竞争力。他也承诺将在第一届任期内,斥资4000亿美元采购美国商品与服务,并将创造500万个就业机会。\n另外,拜登提出10年1.3万亿美元的基建投资计划,主要包括交通、能源、水利等领域,这些举措也将增加对美国产品、材料和服务的需求。\n影响五:“清洁能源革命”计划启动,美国将加码新能源产业,利空化石能源。\n拜登已提名前国务卿约翰·克里为“总统气候特使”,表态愿重签和遵守巴黎气候协定,并承诺在4年内投资2万亿美元以对抗气候变化。\n一方面,拜登支持新能源汽车产业发展,提出在全国建立50万座电动车充电桩,政府采购300万台新能源车,力争使美国在2050年之前实现100% 清洁能源经济和零净碳排放。另一方面,拜登此前提出,虽不会全面禁止开采页岩油,但会停止在美国境内的新开采项目,这可能会对化石能源行业产生一定负面影响。\n影响六:调查科技企业的垄断行为,全球科技龙头面临压力。落实奥巴马的平价医保法案,药物和医疗服务提供商的发展空间受限。\n科技方面,拜登主张调查科技企业的垄断行为,这或将对一些全球科技龙头造成压力。但预计其反垄断措施最多局限于限制未来的收购行为,而不会强迫要求巨头拆分。与反垄断对应,拜登提出将投入3000亿美元用于支持先进材料、生物医药、清洁能源、航天科技和人工智能等前沿领域,以鼓励科技行业竞争和蓬勃发展。\n医疗方面,拜登主张保护并扩大奥巴马的平价医保法案,计划为超过97%的美国人提供保险。长期来看,扩大医保范围、增加社会福利的政治主张若得以通过,药物和医疗服务提供商的发展空间将受限,相关医药企业的收入和盈利也会受到一定冲击。但短期来看,考虑到美国经济仍受疫情冲击,拜登或选择率先落实部分已通过的方案,如降低仿制药品的价格等。\n中美关系\n影响七:推翻特朗普的外交政策主张,从“退群”到“入群”,带领美国重新回到多边主义的国际框架中。\n作为曾长期任职于参议院外交关系委员会的建制派政治家,拜登始终坚持多边主义。他已经做出了重回《巴黎协定》的承诺,也表态希望重返世界卫生组织,或将以重新谈判的方式重返CPTPP,并支持恢复2015年伊核协议。拜登上台后,预计将把增强或修复盟友关系当作主要任务。\n欧洲方面,他已与欧洲主要国家领导人确认将在安全保障和气候变化等领域进行合作,重振特朗普执政时期退出的“跨大西洋伙伴关系”。亚太方面,拜登称将“坚定地致力于建立强大的韩美同盟以及和平繁荣的朝鲜半岛”,还在与日本新任首相菅义伟的通话中,强调共同建立“自由而开放的印太”。\n在对华外交方面,拜登政府将强化所谓民主和人权等“价值观”外交,对华强硬不会是拜登的首要任务,更多是作为内政经济复苏不力而衍生出的挡箭牌。新任国务卿布林肯支持奥巴马时期的“重返亚太”战略,强调构建所谓“民主国家联盟”以遏制中国发展。\n拜登可能将增加美国在亚太地区的军事存在。特朗普政府任内不仅没有发动任何一场战争,反而在从全球撤军。而拜登可能会延续奥巴马政府时期的重返亚太战略,增加在东亚地区的军事部署。\n影响八:短期并不会取消对华关税,但可能会以降低关税为“筹码”与中国进行谈判。\n12月2日,拜登称不会在对华关税上立即采取行动,希望首先对现有的贸易协定进行全面审查。拜登并不主张用关税对其他国家施加压力,并曾抨击,“唯一为贸易战付出代价的是美国农民和工人”。另外,拜登此前也做出减少贸易壁垒的承诺,并提出通过美国的盟友与国际机制来与中国进行协商谈判。\n因此,拜登更可能以降低关税和大豆等商品的采购为“筹码”与中国进行谈判,试图在知识产权保护、所谓国企补贴及相关的竞争中性等领域获取中国的让步。\n影响九:科技领域仍将保持对华强硬,并将联合盟友施压中国。\n美国希望维持在科技领域的绝对领导地位,拜登在科技创新及相关产业政策方面,同样将保持对华的强硬立场。一是继续抓住所谓国企补贴的问题,认为国有企业拥有所谓不公平的优势,并将主导未来的技术和产业。二是极度强调知识产权保护,他认为如不采取措施,“中国将继续抢夺美国和美国公司的技术”。\n特朗普政府出台的科技制裁措施不会被拜登政府马上解除,中美科技竞争的局面会延续,但手段会发生变化。拜登一方面将加大对本国技术研发的支持力度,另一方面将在国际贸易规则框架下对华施压,滥用国家安全为借口的制裁行为或将减少。\n尤其在“核高基”领域,拜登政府并不会较特朗普有所缓和,甚至将联合盟友共同对中国科技企业施压。例如,布林肯称5G方面,美国必须与盟国合作,制定有关出口管制、投资限制和技术标准的共同政策,以确保所谓“保护和促进自由民主价值观的生态系统”。\n影响十:监管趋严预计将加速中概股回归,香港市场将从中受益,2024年是最后的关键时点。\n中资企业在美上市被设下更高门槛。12月3日,《外国公司担责法案》获众议院通过。根据法案内容,若连续三年无法通过PCAOB(上市公司会计监督委员会)的审计,将被禁止在全美交易所交易。该法案还要求90天内,上市公司需披露其是否受外国政府拥有或控制。若法案在年底前生效,预计不符合要求的中概股将在2024年二季度左右被禁止交易。\n稳定的香港与创新的香港资本市场或将更多承接中概股回归红利。《国安法》的推出与后续严格实行,使香港不再过多受到内部骚乱及外部反华势力干扰;粤港澳大湾区的建设也将深化合作,为香港带来新的发展动力。\n香港资本市场的境内外枢纽作用愈发突出,一方面,同股不同权、二次上市的中概股把港股市场看作回归首选,恒指允许相关中概股纳入也进一步激发市场热情。另一方面,陆港两地互联互通机制逐步完善,科创板股票被纳入沪港通,ETF通、债券通、理财通也在加快推行,两地金融产品将更加丰富,金融市场将更趋成熟。","news_type":1,"symbols_score_info":{".SPX":0.9,"SPY":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1707,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166900344,"gmtCreate":1623986845188,"gmtModify":1703825750592,"author":{"id":"3568636259241053","authorId":"3568636259241053","name":"木子望月","avatar":"https://static.tigerbbs.com/3f87ec2f14e38ba9b809b6e3ab4907a0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568636259241053","authorIdStr":"3568636259241053"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/166900344","repostId":"163727303","repostType":1,"repost":{"id":163727303,"gmtCreate":1623894233402,"gmtModify":1703822786414,"author":{"id":"3483341938884489","authorId":"3483341938884489","name":"景辰财经","avatar":"https://static.laohu8.com/a5e89e6e34155c91e69a7cead5a72e85","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3483341938884489","authorIdStr":"3483341938884489"},"themes":[],"title":"BOSS直聘上市後兩日翻倍!市場爲何看好?","htmlText":"美股新股<a target=\"_blank\" href=\"https://laohu8.com/S/BZ\">$BOSS直聘(BZ)$</a> 在IPO首日大漲95%,本週一再度上漲7.88%,股價收於40.13美元,較招股價19美元已經翻倍,市值達到160億美元。相比較於同行業的前程無憂、獵聘,市場爲何對BOSS直聘如此青睞?近日天風證券發佈深度研報,以下爲其主要觀點:BOSS 直聘 APP 於 2014 年 7 月上線,全球首創互聯網「直聘」模式,隸屬於看準科技集團。致力於用科技聯結個人的發展,推動人力資源行業的效率變革,爲社會創造更大的價值。BOSS 直聘定位於「用聊天的方式找工作」,鼓勵不同角色和不同職位的僱主,從一開始就加入招聘流程,降低 BC 端的信息不對稱,縮短決策流程,提高招聘效率和滿意度。成立 7 年以來,BOSS 直聘服務過近 1 億的用戶和超過 600 萬的企業僱主。2020 年 BOSS 直聘實現營業收入 19.44 億元,同比增長 95%;2021Q1 實現營收 7.89 億元,同比增長 179%。由於在線招聘服務是預收款模式,當期營收加上遞延收入變動後,2020年實現現金收入 25.30 億元,同比增長 90%;2021Q1 實現現金收入 11.82 億元,同比增長281%。傳統招聘模式的痛點傳統招聘模式的低效率催生直聘模式的出現。中國在線招聘市場服務商主要包括招聘機構提供的在線招聘平臺、在線分類廣告和在線門戶。傳統的以簡歷爲中心、基於搜索的模式不能完全滿足用戶對便捷高效的招聘流程的需求,導致中國在線招聘滲透率較低。①格式化的簡歷所能提供的信息有限,且信息流是從求職者到僱主的單向傳遞,信息迭代反饋速度慢。②流量分發基於中心化的搜索模式,傾斜於簡歷出色的候選人和財力雄厚的知名僱主,無法滿足需求空間更大的普通求職者和中小微僱主。③HR 主導模","listText":"美股新股<a target=\"_blank\" href=\"https://laohu8.com/S/BZ\">$BOSS直聘(BZ)$</a> 在IPO首日大漲95%,本週一再度上漲7.88%,股價收於40.13美元,較招股價19美元已經翻倍,市值達到160億美元。相比較於同行業的前程無憂、獵聘,市場爲何對BOSS直聘如此青睞?近日天風證券發佈深度研報,以下爲其主要觀點:BOSS 直聘 APP 於 2014 年 7 月上線,全球首創互聯網「直聘」模式,隸屬於看準科技集團。致力於用科技聯結個人的發展,推動人力資源行業的效率變革,爲社會創造更大的價值。BOSS 直聘定位於「用聊天的方式找工作」,鼓勵不同角色和不同職位的僱主,從一開始就加入招聘流程,降低 BC 端的信息不對稱,縮短決策流程,提高招聘效率和滿意度。成立 7 年以來,BOSS 直聘服務過近 1 億的用戶和超過 600 萬的企業僱主。2020 年 BOSS 直聘實現營業收入 19.44 億元,同比增長 95%;2021Q1 實現營收 7.89 億元,同比增長 179%。由於在線招聘服務是預收款模式,當期營收加上遞延收入變動後,2020年實現現金收入 25.30 億元,同比增長 90%;2021Q1 實現現金收入 11.82 億元,同比增長281%。傳統招聘模式的痛點傳統招聘模式的低效率催生直聘模式的出現。中國在線招聘市場服務商主要包括招聘機構提供的在線招聘平臺、在線分類廣告和在線門戶。傳統的以簡歷爲中心、基於搜索的模式不能完全滿足用戶對便捷高效的招聘流程的需求,導致中國在線招聘滲透率較低。①格式化的簡歷所能提供的信息有限,且信息流是從求職者到僱主的單向傳遞,信息迭代反饋速度慢。②流量分發基於中心化的搜索模式,傾斜於簡歷出色的候選人和財力雄厚的知名僱主,無法滿足需求空間更大的普通求職者和中小微僱主。③HR 主導模","text":"美股新股$BOSS直聘(BZ)$ 在IPO首日大漲95%,本週一再度上漲7.88%,股價收於40.13美元,較招股價19美元已經翻倍,市值達到160億美元。相比較於同行業的前程無憂、獵聘,市場爲何對BOSS直聘如此青睞?近日天風證券發佈深度研報,以下爲其主要觀點:BOSS 直聘 APP 於 2014 年 7 月上線,全球首創互聯網「直聘」模式,隸屬於看準科技集團。致力於用科技聯結個人的發展,推動人力資源行業的效率變革,爲社會創造更大的價值。BOSS 直聘定位於「用聊天的方式找工作」,鼓勵不同角色和不同職位的僱主,從一開始就加入招聘流程,降低 BC 端的信息不對稱,縮短決策流程,提高招聘效率和滿意度。成立 7 年以來,BOSS 直聘服務過近 1 億的用戶和超過 600 萬的企業僱主。2020 年 BOSS 直聘實現營業收入 19.44 億元,同比增長 95%;2021Q1 實現營收 7.89 億元,同比增長 179%。由於在線招聘服務是預收款模式,當期營收加上遞延收入變動後,2020年實現現金收入 25.30 億元,同比增長 90%;2021Q1 實現現金收入 11.82 億元,同比增長281%。傳統招聘模式的痛點傳統招聘模式的低效率催生直聘模式的出現。中國在線招聘市場服務商主要包括招聘機構提供的在線招聘平臺、在線分類廣告和在線門戶。傳統的以簡歷爲中心、基於搜索的模式不能完全滿足用戶對便捷高效的招聘流程的需求,導致中國在線招聘滲透率較低。①格式化的簡歷所能提供的信息有限,且信息流是從求職者到僱主的單向傳遞,信息迭代反饋速度慢。②流量分發基於中心化的搜索模式,傾斜於簡歷出色的候選人和財力雄厚的知名僱主,無法滿足需求空間更大的普通求職者和中小微僱主。③HR 主導模","images":[{"img":"https://static.tigerbbs.com/d1cda0d0bd191d760a061d4f3781c502","width":"640","height":"390"},{"img":"https://static.tigerbbs.com/cb346162cc48cf1cf73e2bbef0d0b3a2","width":"640","height":"246"},{"img":"https://static.tigerbbs.com/4ea44ffa107b80d772ebb1cdbbf766cb","width":"640","height":"235"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/163727303","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":7,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1735,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":339421671,"gmtCreate":1609040370193,"gmtModify":1704977213194,"author":{"id":"3568636259241053","authorId":"3568636259241053","name":"木子望月","avatar":"https://static.tigerbbs.com/3f87ec2f14e38ba9b809b6e3ab4907a0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568636259241053","authorIdStr":"3568636259241053"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/339421671","repostId":"1199249539","repostType":4,"repost":{"id":"1199249539","kind":"news","pubTimestamp":1608861527,"share":"https://ttm.financial/m/news/1199249539?lang=en_US&edition=fundamental","pubTime":"2020-12-25 09:58","market":"uk","language":"zh","title":"What does the historic Brexit agreement mean for the market?","url":"https://stock-news.laohu8.com/highlight/detail?id=1199249539","media":"华尔街见闻","summary":"市场不确定性仍然存在。媒体称英国与欧盟可能会在未来重新谈判脱欧协议的部分内容,同时,英国经济的主要支柱服务业不在协议范围内,势必会造成一定程度的干扰。12月24日平安夜当天,欧盟委员会主席冯德莱恩宣布","content":"<p>Market uncertainty remains. The media said that Britain and the European Union may renegotiate part of the Brexit agreement in the future. At the same time, the service industry, the main pillar of the British economy, is not within the scope of the agreement, which is bound to cause a certain degree of interference.</p><p>On Christmas Eve, December 24th, European Commission President von der Leyen announced that the UK-EU trade agreement was finally reached after nine months of difficult negotiations, which marked that Britain, the second largest economy in Europe, completely left the European Union dominated by Germany and France. The regional joint framework established after World War II was broken, and the relationship between Britain and its largest trading partner, the European Union and other countries in the world, entered a new era.</p><p>As the cloud of uncertainty of \"hard Brexit\" without trade agreement disperses, the tariffs and costs faced by exporters in Britain and Europe will be far lower than the pessimistic scenario of Brexit without agreement, and the market has also entered the stage of \"selling facts\". The pound fell from a two-and-a-half-year high of 1.3624 against the US dollar to 1.3550 now.</p><p>However, despite the successful conclusion of the agreement, von der Leyen also said that \"the EU will continue to cooperate with the UK in all fields\".<b>Market uncertainty remains.</b></p><p><b>After the \"official announcement\" of the trade agreement was reached, some media said that Britain and the European Union may renegotiate part of the Brexit agreement in the future, and the two sides may still impose tariffs on each other in case of disputes. At the same time, the service industry, the main pillar of the British economy, especially the financial services industry, a key industry in London, is not covered by the agreement, which is bound to cause a certain degree of interference.</b></p><p><b>British stocks</b></p><p>Since the Brexit referendum in June 2016, the risk of a \"hard Brexit\" without agreement has been putting pressure on British assets. As the largest financial service customer in the UK, the annual bilateral trade volume between the EU and the UK reaches US $1 trillion.</p><p>Compared with the foreign exchange market and bond market,<b>The British stock market is arguably the worst performing British asset in four years, and it has lagged behind the global stock market recovery since March.</b>At present, the market value of British stocks in the global index has been reduced from 10% before the referendum to 4%, and the trading price is 30% discount to the global market, much higher than the usual 10%.</p><p><img src=\"https://static.tigerbbs.com/bc25f79873f302f6c49bbc9c96021d2c\" tg-width=\"845\" tg-height=\"650\"></p><p><i>The world's major indexes since the Brexit vote (red line is the FTSE 100)</i></p><p>With the trade deal reached, some analysts believe it is time to turn over, calling on clients to buy undervalued British stocks, but things may not be as simple as imagined.</p><p>Analysts say Brexit has created far more separation between the UK and the EU than is believed and further negotiations in 2021 to flesh out the deal are inevitable,<b>This means that discounts on UK assets won't disappear anytime soon.</b></p><p>Not only that, but Seema Shah, chief strategist at Principal Global Investors, said that although the trade deal will bring some attraction to the UK market, what Brexit and the pandemic will leave behind is a \"long-term scar\". She believes that \"Brexit does mean that Britain may lose some of its luster.\"<a href=\"https://laohu8.com/S/UBS\">UBS</a>Caroline Simmons, chief investment officer of the UK, also said that Brexit has a huge drag on UK GDP.</p><p>It is worth mentioning that the service industry, the main pillar of the British economy, is not covered by the agreement.<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Andrew Sheets, head of cross-asset strategy, said:</p><p>The elimination of the risk of no trade deal will raise the average price of UK assets, but it will not solve the underlying economic challenge...<b>The service sector, which accounts for a large proportion of the UK economy, is facing a negative impact.</b>”<b>pound sterling</b></p><p>The pound has been on a rollercoaster ride in recent weeks. Under the cloud of \"hard Brexit\" uncertainty, the pound once fell to 1.29 against the US dollar in early November, but last week it briefly hit a two-and-a-half-year high of US $1.36 as the trade agreement was expected to rise.</p><p>The team of Chris Turner, head of global markets at ING, had previously expected the final agreement to provide a \"modest boost\" to the pound, pushing it further to 1.38 or facing a \"huge downside\". Chris Turner's team has set a one-month target of 1.36 for GBP/USD.</p><p><b>Oil price</b></p><p>Peter McNally of investment research consultancy Third Bridge also pointed out that,<b>The impact of Brexit on the pound and the shock on the dollar could push oil prices higher.</b></p><p>Speaking to Barron's, McNally said:</p><p>If the outcome of the Brexit deal leads to a fundamentally weaker dollar, it will further boost oil prices, which we have been witnessing in recent months. A weaker dollar will further push oil prices higher because oil is priced in dollars and buyers of a stronger local currency will find it cheaper.</p>","source":"highlight_wallstreetcn","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>What does the historic Brexit agreement mean for the market?</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\">\nWhat does the historic Brexit agreement mean for the market?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2020-12-25 09:58</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Market uncertainty remains. The media said that Britain and the European Union may renegotiate part of the Brexit agreement in the future. At the same time, the service industry, the main pillar of the British economy, is not within the scope of the agreement, which is bound to cause a certain degree of interference.</p><p>On Christmas Eve, December 24th, European Commission President von der Leyen announced that the UK-EU trade agreement was finally reached after nine months of difficult negotiations, which marked that Britain, the second largest economy in Europe, completely left the European Union dominated by Germany and France. The regional joint framework established after World War II was broken, and the relationship between Britain and its largest trading partner, the European Union and other countries in the world, entered a new era.</p><p>As the cloud of uncertainty of \"hard Brexit\" without trade agreement disperses, the tariffs and costs faced by exporters in Britain and Europe will be far lower than the pessimistic scenario of Brexit without agreement, and the market has also entered the stage of \"selling facts\". The pound fell from a two-and-a-half-year high of 1.3624 against the US dollar to 1.3550 now.</p><p>However, despite the successful conclusion of the agreement, von der Leyen also said that \"the EU will continue to cooperate with the UK in all fields\".<b>Market uncertainty remains.</b></p><p><b>After the \"official announcement\" of the trade agreement was reached, some media said that Britain and the European Union may renegotiate part of the Brexit agreement in the future, and the two sides may still impose tariffs on each other in case of disputes. At the same time, the service industry, the main pillar of the British economy, especially the financial services industry, a key industry in London, is not covered by the agreement, which is bound to cause a certain degree of interference.</b></p><p><b>British stocks</b></p><p>Since the Brexit referendum in June 2016, the risk of a \"hard Brexit\" without agreement has been putting pressure on British assets. As the largest financial service customer in the UK, the annual bilateral trade volume between the EU and the UK reaches US $1 trillion.</p><p>Compared with the foreign exchange market and bond market,<b>The British stock market is arguably the worst performing British asset in four years, and it has lagged behind the global stock market recovery since March.</b>At present, the market value of British stocks in the global index has been reduced from 10% before the referendum to 4%, and the trading price is 30% discount to the global market, much higher than the usual 10%.</p><p><img src=\"https://static.tigerbbs.com/bc25f79873f302f6c49bbc9c96021d2c\" tg-width=\"845\" tg-height=\"650\"></p><p><i>The world's major indexes since the Brexit vote (red line is the FTSE 100)</i></p><p>With the trade deal reached, some analysts believe it is time to turn over, calling on clients to buy undervalued British stocks, but things may not be as simple as imagined.</p><p>Analysts say Brexit has created far more separation between the UK and the EU than is believed and further negotiations in 2021 to flesh out the deal are inevitable,<b>This means that discounts on UK assets won't disappear anytime soon.</b></p><p>Not only that, but Seema Shah, chief strategist at Principal Global Investors, said that although the trade deal will bring some attraction to the UK market, what Brexit and the pandemic will leave behind is a \"long-term scar\". She believes that \"Brexit does mean that Britain may lose some of its luster.\"<a href=\"https://laohu8.com/S/UBS\">UBS</a>Caroline Simmons, chief investment officer of the UK, also said that Brexit has a huge drag on UK GDP.</p><p>It is worth mentioning that the service industry, the main pillar of the British economy, is not covered by the agreement.<a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>Andrew Sheets, head of cross-asset strategy, said:</p><p>The elimination of the risk of no trade deal will raise the average price of UK assets, but it will not solve the underlying economic challenge...<b>The service sector, which accounts for a large proportion of the UK economy, is facing a negative impact.</b>”<b>pound sterling</b></p><p>The pound has been on a rollercoaster ride in recent weeks. Under the cloud of \"hard Brexit\" uncertainty, the pound once fell to 1.29 against the US dollar in early November, but last week it briefly hit a two-and-a-half-year high of US $1.36 as the trade agreement was expected to rise.</p><p>The team of Chris Turner, head of global markets at ING, had previously expected the final agreement to provide a \"modest boost\" to the pound, pushing it further to 1.38 or facing a \"huge downside\". Chris Turner's team has set a one-month target of 1.36 for GBP/USD.</p><p><b>Oil price</b></p><p>Peter McNally of investment research consultancy Third Bridge also pointed out that,<b>The impact of Brexit on the pound and the shock on the dollar could push oil prices higher.</b></p><p>Speaking to Barron's, McNally said:</p><p>If the outcome of the Brexit deal leads to a fundamentally weaker dollar, it will further boost oil prices, which we have been witnessing in recent months. A weaker dollar will further push oil prices higher because oil is priced in dollars and buyers of a stronger local currency will find it cheaper.</p>\n<div class=\"bt-text\">\n\n\n<p> source:<a href=\"https://wallstreetcn.com/articles/3614828\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/05bdf200c4138336b0f7e4174ef1a988","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3614828","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1199249539","content_text":"市场不确定性仍然存在。媒体称英国与欧盟可能会在未来重新谈判脱欧协议的部分内容,同时,英国经济的主要支柱服务业不在协议范围内,势必会造成一定程度的干扰。12月24日平安夜当天,欧盟委员会主席冯德莱恩宣布,英欧贸易协议历经九个月的艰难谈判后终于达成,标志着欧洲第二大经济体英国彻底脱离以德法为主导的欧盟,二战后建立的地区联合框架被打破,英国与其最大贸易合作伙伴欧盟以及世界其他国家的关系进入新时代。随着无贸易协议“硬脱欧”的不确定性阴云散去,英欧双方出口商所面临的关税和成本将远低于无协议脱欧的悲观场景,市场也进入“卖事实”阶段,英镑兑美元从两年半新高1.3624回落,目前至1.3550。不过,尽管协议成功达成,冯德莱恩也表示“欧盟将继续在所有领域与英国合作”,市场不确定性仍然存在。贸易协议“官宣”达成后便有媒体称,英国与欧盟可能会在未来重新谈判脱欧协议的部分内容,双方仍然可能会在出现争端时向对方加征关税。同时,英国经济的主要支柱服务业,特别是伦敦的重点行业金融服务业不在协议范围内,势必会造成一定程度的干扰。英股2016年6月英国脱欧公投以来,无协议“硬脱欧”的风险就一直对英国资产构成压力。作为英国最大的金融服务客户,欧盟每年同英国双边贸易额达1万亿美元。相较汇市、债市而言,英国股市可以说是四年来表现最差的英国资产,3月以来也落后于全球股市复苏。目前,英国股票在全球指数中市值占比已从公投前的10%缩减至4%,交易价格相对于全球市场有30%的折让,远高于通常的10%幅度。英国脱欧公投以来世界主要股指(红线为富时100指数)随着贸易协议达成,一些分析师认为翻身的时候到了,纷纷呼吁客户买入被低估的英国股票,不过事情可能没有想象的那么简单。分析师表示,脱欧所造成的英国与欧盟之间的分离远比人们所认为的要多,2021年为充实该协议而进行进一步谈判是不可避免的,这意味着英国资产的折价不会很快消失。不仅如此,Principal Global Investors首席策略师Seema Shah表示,尽管贸易协议会给英国市场带来一些吸引力,但脱欧和疫情将留下的是“长期的疤痕”。她认为,“脱欧确实意味着英国可能会失去一些光泽。”瑞银英国首席投资官Caroline Simmons也表示,脱欧对英国GDP的拖累非常之大。值得一提的是,英国经济的主要支柱服务业并不在协议范围内。摩根士丹利跨资产策略负责人Andrew Sheets表示:无贸易协议风险的消除将提高英国资产的平均价格,但这并不能解决潜在的经济挑战... 在英国经济中占很大比重的服务业正面临负面冲击。”英镑最近几周英镑一直处于过山车状态。“硬脱欧”不确定性阴云下,11月初英镑兑美元一度跌至1.29,而上周随着贸易协议预期抬升短暂触及1.36美元两年半新高。ING全球市场主管Chris Turner团队此前预计,最终协议将为英镑提供“适度的提振”,将其进一步推升至1.38,否则将面临“巨大的下行空间”。Chris Turner团队设定的英镑兑美元一个月目标位为1.36。油价投资研究咨询公司Third Bridge的Peter McNally也指出,英国退欧对英镑的影响以及对美元的冲击可能会推高油价。McNally接受《巴伦周刊》采访时表示:如果脱欧协议的结果导致美元从根本上走弱,这将进一步提振油价,这是我们近几个月来一直在目睹的。美元走弱将进一步推高油价,因为石油是以美元定价的,而本币走强的买家会发现石油更便宜。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1215,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":395745189,"gmtCreate":1607822002041,"gmtModify":1704972072448,"author":{"id":"3568636259241053","authorId":"3568636259241053","name":"木子望月","avatar":"https://static.tigerbbs.com/3f87ec2f14e38ba9b809b6e3ab4907a0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568636259241053","authorIdStr":"3568636259241053"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/395745189","repostId":"1168762558","repostType":4,"isVote":1,"tweetType":1,"viewCount":1415,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":398613143,"gmtCreate":1606886774982,"gmtModify":1704967559289,"author":{"id":"3568636259241053","authorId":"3568636259241053","name":"木子望月","avatar":"https://static.tigerbbs.com/3f87ec2f14e38ba9b809b6e3ab4907a0","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568636259241053","authorIdStr":"3568636259241053"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/398613143","repostId":"398040025","repostType":1,"repost":{"id":398040025,"gmtCreate":1606801943561,"gmtModify":1704966970061,"author":{"id":"126199392658083","authorId":"126199392658083","name":"机构有话说","avatar":"https://static.tigerbbs.com/d8a79f8da6559cae9d644c1c24d24737","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"126199392658083","authorIdStr":"126199392658083"},"themes":[],"htmlText":"\n \n \n <a href=\"https://laohu8.com/FUT/NQmain\">$NQ100指數主連(NQmain)$</a> <a href=\"https://laohu8.com/FUT/ESmain\">$SP500指數主連(ESmain)$</a> <a href=\"https://laohu8.com/FUT/YMmain\">$道瓊斯指數主連(YMmain)$</a> <a href=\"https://laohu8.com/FUT/GCmain\">$黃金主連(GCmain)$</a> <a href=\"https://laohu8.com/FUT/SImain\">$白銀主連(SImain)$</a> 期貨基礎知識系列視頻課第四:什麼是最小報價波幅,這些動畫簡單易懂,又非常有趣。3分鐘聽完,收穫一定不小。\n \n","listText":"<a href=\"https://laohu8.com/FUT/NQmain\">$NQ100指數主連(NQmain)$</a> <a href=\"https://laohu8.com/FUT/ESmain\">$SP500指數主連(ESmain)$</a> <a href=\"https://laohu8.com/FUT/YMmain\">$道瓊斯指數主連(YMmain)$</a> <a href=\"https://laohu8.com/FUT/GCmain\">$黃金主連(GCmain)$</a> <a href=\"https://laohu8.com/FUT/SImain\">$白銀主連(SImain)$</a> 期貨基礎知識系列視頻課第四:什麼是最小報價波幅,這些動畫簡單易懂,又非常有趣。3分鐘聽完,收穫一定不小。","text":"$NQ100指數主連(NQmain)$ $SP500指數主連(ESmain)$ $道瓊斯指數主連(YMmain)$ $黃金主連(GCmain)$ $白銀主連(SImain)$ 期貨基礎知識系列視頻課第四:什麼是最小報價波幅,這些動畫簡單易懂,又非常有趣。3分鐘聽完,收穫一定不小。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/398040025","isVote":1,"tweetType":2,"object":{"id":"d9fd1b6485ed44b98256c5975c4b126f","tweetId":"398040025","title":"期货合约全解析:最小报价波幅--更多内容访问老虎股票学院","videoUrl":"https://1254107296.vod2.myqcloud.com/73ba5544vodgzp1254107296/4e12ff885285890806200505686/23XcNw6jcBYA.mp4","poster":"https://static.tigerbbs.com/662c3b04807c4c1489741a254d24c869","shareLink":"https://laohu8.com/VIDEO/C20190129035545380/20190129063502013"},"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1504,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}