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2022-06-16

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U.S. chip stocks collectively fell, Micron Technology fell more than 5%

2022-06-16

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Dow Tumbles 500 Points, Reversing Wednesday’S Gains on Rising Recession Fears

2022-06-15

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2022-06-15

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2022-06-15

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2022-06-11

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2022-06-02

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Who's to blame for the recession, Biden or Powell?

2022-05-30

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Pre-market changes | Popular Chinese concept stocks generally fell! Didi bucked the trend and rose more than 7%

2022-05-30

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2022-05-29

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2022-05-28

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2022-05-21

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U.S. Stocks Opened Higher and Went Lower in Morning Trading, Nasdaq Slid Nearly 1%

2022-05-18

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2022-05-18

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Powell Says Fed Has Resolve to Bring U.S. Inflation Down

2022-05-10

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2022-05-10

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2022-05-10

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2022-05-09

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Palantir, Disney, Occidental, Rivian, BioNTech, and Other Stocks for Investors to Watch This Week

2022-05-09

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The selling wave of U.S. stocks is intensifying. Will this data become a turning point in the market?

2022-05-08

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charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. chip stocks collectively fell, Micron Technology fell more than 5%</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. chip stocks collectively fell, Micron Technology fell more than 5%\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-06-16 21:51</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On June 16, U.S. chip stocks collectively fell.<a href=\"https://laohu8.com/S/MU\">Micron Technology</a>Fell more than 5%,<a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>、<a href=\"https://laohu8.com/S/AMD\">AMD</a>、<a href=\"https://laohu8.com/S/ASML\">ASML</a>Fell more than 4%,<a href=\"https://laohu8.com/S/INTC\">Intel</a>Fell nearly 3%.</p><p><img src=\"https://static.tigerbbs.com/99096fe68ff55e82b105991d287b1e0e\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8a1a8c5698b6f32ee1637556a15bb35b","relate_stocks":{"159813":"芯片","BK4141":"半导体产品","BK4553":"喜马拉雅资本持仓","MU":"美光科技","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4566":"资本集团","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4527":"明星科技股","BK4512":"苹果概念","BK4575":"芯片概念","BK4579":"人工智能"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175075343","content_text":"6月16日，美股芯片股集体走低，美光科技跌超5%，英伟达、AMD、阿斯麦跌超4%，英特尔跌近3%。","news_type":1,"symbols_score_info":{"159813":0.9,"MU":0.9}},"isVote":1,"tweetType":1,"viewCount":2752,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9054679887,"gmtCreate":1655388036349,"gmtModify":1676535627987,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9054679887","repostId":"1118727036","repostType":4,"repost":{"id":"1118727036","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1655386410,"share":"https://ttm.financial/m/news/1118727036?lang=en_US&edition=fundamental","pubTime":"2022-06-16 21:33","market":"us","language":"en","title":"Dow Tumbles 500 Points, Reversing Wednesday’S Gains on Rising Recession Fears","url":"https://stock-news.laohu8.com/highlight/detail?id=1118727036","media":"Tiger Newspress","summary":"U.S. stocks were under pressure Thursday, putting the major averages to give up the solid gains made","content":"<html><head></head><body><p>U.S. stocks were under pressure Thursday, putting the major averages to give up the solid gains made in the previous session.</p><p>Futures contracts tied to the Dow Jones Industrial Average dropped 1.5%, or 460 points. S&amp;P 500 futures were down 1.7%, while Nasdaq 100 futures shed 2%. All three futures contracts had earlier been trading in positive territory.</p><p>The 10-year Treasury yield resumed its massive June run on Thursday, reversing higher overnight. The 10-year yield was last around 3.44% after ending May at 2.84%.</p><p>Those moves come after the Federal Reserve implemented its largest interest rate hike since 1994 on Wednesday. The Fed raised rates by75 basis points, as was widely anticipated.</p><p>“Clearly, today’s 75 basis point increase is an unusually large one, and I do not expect moves of this size to be common,” Federal Reserve ChairmanJerome Powell said at a news conference following the decision.</p><p>Stocks took a leg higher Wednesday after Powell said that a 50 or 75 basis point increase “seems most likely”at the next meeting in July, indicating the central bank’s commitment to fighting inflation. Powell did caution, however, that decisions will be made “meeting by meeting.”</p><p>The major averages ended the session higher, with the Dow and S&amp;P 500 both snapping five-day losing streaks. The 30-stock benchmark added about 304 points, or 1%, while the S&amp;P 500 advanced 1.46%. The tech-heavy Nasdaq Composite was the relative outperformer, rising 2.5%.</p><p>However, market sentiment appeared to sour once again Thursday as other central banks around the globe adopted more aggressive policy stances and investors questioned whether the Fed can pull off a soft landing.</p><p>The Swiss National Bank overnight raised rates for the first time in 15 years. The Bank of England was set on Thursday to raise rates for the fifth straight time.</p><p>“It’s about time we exit this artificial world of predictable massive liquidity injections where everybody gets used to zero interest rates, where we do silly things whether it’s investing in parts of the market we shouldn’t be investing in or investing in the economy in ways that don’t make sense,” Allianz chief investment advisor Mohamed El-Erian told CNBC’s “Squawk Box” on Thursday. “We are exiting that regime and it’s going to be bumpy.”</p><p>Tech shares moved lower in premarket trading following Wednesday’s bounce, with Tesla, PayPal, Nvidia, Amazon and Netflix all down more than 3%.</p><p>“There is an astonishing level of tech selling right now,” wrote CNBC’s Jim Cramer in a tweet Thursday. “It is breathtaking to watch as sellers are sending the best techs down gigantically at 5 a.m.”</p><p>Travel stocks including United, Delta and Carnival also took a leg lower.</p><p>Data out Thursday further indicated a dramatic slowdown in economic activity. Housing starts dropped 14% in May, topping the 2.6% decline expected by economists polled by Dow Jones. The Philadelphia Fed Business Index for June came in with a negative 3.3 reading, its first contraction since May 2020</p><p>The major averages entered Thursday’s session down for the week and well below record levels.</p><p>The S&amp;P 500 and Nasdaq Composite are both in bear market territory, down roughly 21% and 32% from their all-time highs in January and November, respectively. The Dow, meantime, is 17% below its Jan. 5 all-time intraday high.</p><p>Rampant inflation, which is at the highest level in 40 years, has weighed on the major averages, as have fears around slowing economic growth and the possibility of a recession.</p><p>Morgan Stanley chief U.S. equity strategist Michael Wilson warned that the inflation problem won’t be solved overnight.</p><p>“It also raises the risk of a recession because you’re bringing forward rate hikes even faster, and I don’t think it’s going to help the bond market,” he said on CNBC’s“Closing Bell.”</p><p>Economic data out Thursday includes weekly jobless claims numbers, with economists surveyed by Dow Jones forecasting a 220,000 print. Housing starts will also be released, whileAdobeandKrogerwill report quarterly updates.</p></body></html>","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>Dow Tumbles 500 Points, Reversing Wednesday’S Gains on Rising Recession Fears</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nDow Tumbles 500 Points, Reversing Wednesday’S Gains on Rising Recession Fears\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-06-16 21:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stocks were under pressure Thursday, putting the major averages to give up the solid gains made in the previous session.</p><p>Futures contracts tied to the Dow Jones Industrial Average dropped 1.5%, or 460 points. S&amp;P 500 futures were down 1.7%, while Nasdaq 100 futures shed 2%. All three futures contracts had earlier been trading in positive territory.</p><p>The 10-year Treasury yield resumed its massive June run on Thursday, reversing higher overnight. The 10-year yield was last around 3.44% after ending May at 2.84%.</p><p>Those moves come after the Federal Reserve implemented its largest interest rate hike since 1994 on Wednesday. The Fed raised rates by75 basis points, as was widely anticipated.</p><p>“Clearly, today’s 75 basis point increase is an unusually large one, and I do not expect moves of this size to be common,” Federal Reserve ChairmanJerome Powell said at a news conference following the decision.</p><p>Stocks took a leg higher Wednesday after Powell said that a 50 or 75 basis point increase “seems most likely”at the next meeting in July, indicating the central bank’s commitment to fighting inflation. Powell did caution, however, that decisions will be made “meeting by meeting.”</p><p>The major averages ended the session higher, with the Dow and S&amp;P 500 both snapping five-day losing streaks. The 30-stock benchmark added about 304 points, or 1%, while the S&amp;P 500 advanced 1.46%. The tech-heavy Nasdaq Composite was the relative outperformer, rising 2.5%.</p><p>However, market sentiment appeared to sour once again Thursday as other central banks around the globe adopted more aggressive policy stances and investors questioned whether the Fed can pull off a soft landing.</p><p>The Swiss National Bank overnight raised rates for the first time in 15 years. The Bank of England was set on Thursday to raise rates for the fifth straight time.</p><p>“It’s about time we exit this artificial world of predictable massive liquidity injections where everybody gets used to zero interest rates, where we do silly things whether it’s investing in parts of the market we shouldn’t be investing in or investing in the economy in ways that don’t make sense,” Allianz chief investment advisor Mohamed El-Erian told CNBC’s “Squawk Box” on Thursday. “We are exiting that regime and it’s going to be bumpy.”</p><p>Tech shares moved lower in premarket trading following Wednesday’s bounce, with Tesla, PayPal, Nvidia, Amazon and Netflix all down more than 3%.</p><p>“There is an astonishing level of tech selling right now,” wrote CNBC’s Jim Cramer in a tweet Thursday. “It is breathtaking to watch as sellers are sending the best techs down gigantically at 5 a.m.”</p><p>Travel stocks including United, Delta and Carnival also took a leg lower.</p><p>Data out Thursday further indicated a dramatic slowdown in economic activity. Housing starts dropped 14% in May, topping the 2.6% decline expected by economists polled by Dow Jones. The Philadelphia Fed Business Index for June came in with a negative 3.3 reading, its first contraction since May 2020</p><p>The major averages entered Thursday’s session down for the week and well below record levels.</p><p>The S&amp;P 500 and Nasdaq Composite are both in bear market territory, down roughly 21% and 32% from their all-time highs in January and November, respectively. The Dow, meantime, is 17% below its Jan. 5 all-time intraday high.</p><p>Rampant inflation, which is at the highest level in 40 years, has weighed on the major averages, as have fears around slowing economic growth and the possibility of a recession.</p><p>Morgan Stanley chief U.S. equity strategist Michael Wilson warned that the inflation problem won’t be solved overnight.</p><p>“It also raises the risk of a recession because you’re bringing forward rate hikes even faster, and I don’t think it’s going to help the bond market,” he said on CNBC’s“Closing Bell.”</p><p>Economic data out Thursday includes weekly jobless claims numbers, with economists surveyed by Dow Jones forecasting a 220,000 print. Housing starts will also be released, whileAdobeandKrogerwill report quarterly updates.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118727036","content_text":"U.S. stocks were under pressure Thursday, putting the major averages to give up the solid gains made in the previous session.Futures contracts tied to the Dow Jones Industrial Average dropped 1.5%, or 460 points. S&P 500 futures were down 1.7%, while Nasdaq 100 futures shed 2%. All three futures contracts had earlier been trading in positive territory.The 10-year Treasury yield resumed its massive June run on Thursday, reversing higher overnight. The 10-year yield was last around 3.44% after ending May at 2.84%.Those moves come after the Federal Reserve implemented its largest interest rate hike since 1994 on Wednesday. The Fed raised rates by75 basis points, as was widely anticipated.“Clearly, today’s 75 basis point increase is an unusually large one, and I do not expect moves of this size to be common,” Federal Reserve ChairmanJerome Powell said at a news conference following the decision.Stocks took a leg higher Wednesday after Powell said that a 50 or 75 basis point increase “seems most likely”at the next meeting in July, indicating the central bank’s commitment to fighting inflation. Powell did caution, however, that decisions will be made “meeting by meeting.”The major averages ended the session higher, with the Dow and S&P 500 both snapping five-day losing streaks. The 30-stock benchmark added about 304 points, or 1%, while the S&P 500 advanced 1.46%. The tech-heavy Nasdaq Composite was the relative outperformer, rising 2.5%.However, market sentiment appeared to sour once again Thursday as other central banks around the globe adopted more aggressive policy stances and investors questioned whether the Fed can pull off a soft landing.The Swiss National Bank overnight raised rates for the first time in 15 years. The Bank of England was set on Thursday to raise rates for the fifth straight time.“It’s about time we exit this artificial world of predictable massive liquidity injections where everybody gets used to zero interest rates, where we do silly things whether it’s investing in parts of the market we shouldn’t be investing in or investing in the economy in ways that don’t make sense,” Allianz chief investment advisor Mohamed El-Erian told CNBC’s “Squawk Box” on Thursday. “We are exiting that regime and it’s going to be bumpy.”Tech shares moved lower in premarket trading following Wednesday’s bounce, with Tesla, PayPal, Nvidia, Amazon and Netflix all down more than 3%.“There is an astonishing level of tech selling right now,” wrote CNBC’s Jim Cramer in a tweet Thursday. “It is breathtaking to watch as sellers are sending the best techs down gigantically at 5 a.m.”Travel stocks including United, Delta and Carnival also took a leg lower.Data out Thursday further indicated a dramatic slowdown in economic activity. Housing starts dropped 14% in May, topping the 2.6% decline expected by economists polled by Dow Jones. The Philadelphia Fed Business Index for June came in with a negative 3.3 reading, its first contraction since May 2020The major averages entered Thursday’s session down for the week and well below record levels.The S&P 500 and Nasdaq Composite are both in bear market territory, down roughly 21% and 32% from their all-time highs in January and November, respectively. The Dow, meantime, is 17% below its Jan. 5 all-time intraday high.Rampant inflation, which is at the highest level in 40 years, has weighed on the major averages, as have fears around slowing economic growth and the possibility of a recession.Morgan Stanley chief U.S. equity strategist Michael Wilson warned that the inflation problem won’t be solved overnight.“It also raises the risk of a recession because you’re bringing forward rate hikes even faster, and I don’t think it’s going to help the bond market,” he said on CNBC’s“Closing Bell.”Economic data out Thursday includes weekly jobless claims numbers, with economists surveyed by Dow Jones forecasting a 220,000 print. Housing starts will also be released, whileAdobeandKrogerwill report quarterly updates.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2478,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9055424017,"gmtCreate":1655304467739,"gmtModify":1676535608884,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9055424017","repostId":"2243091930","repostType":2,"isVote":1,"tweetType":1,"viewCount":2415,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9055425687,"gmtCreate":1655304394149,"gmtModify":1676535608892,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9055425687","repostId":"1183345309","repostType":4,"isVote":1,"tweetType":1,"viewCount":2699,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9055422209,"gmtCreate":1655304339401,"gmtModify":1676535608843,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9055422209","repostId":"1183345309","repostType":4,"isVote":1,"tweetType":1,"viewCount":2794,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9056399638,"gmtCreate":1654936400824,"gmtModify":1676535537334,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9056399638","repostId":"2242634960","repostType":4,"isVote":1,"tweetType":1,"viewCount":2903,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9050695669,"gmtCreate":1654179895751,"gmtModify":1676535407717,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9050695669","repostId":"1125287126","repostType":4,"repost":{"id":"1125287126","kind":"news","pubTimestamp":1654165500,"share":"https://ttm.financial/m/news/1125287126?lang=en_US&edition=fundamental","pubTime":"2022-06-02 18:25","market":"us","language":"zh","title":"Who's to blame for the recession, Biden or Powell?","url":"https://stock-news.laohu8.com/highlight/detail?id=1125287126","media":"金十数据","summary":"拜登已将物价快速上涨的责任推给了美联储，但白宫可能还没有为接下来的事情做好准备。当中期选举年遇上高通胀肆虐时，最好的政治举措可能是将矛头推向央行。毕竟，稳定物价是他们重要的工作任务之一。不过，政府领导","content":"<p><html><head></head><body>Biden has shifted the blame for the rapid rise in prices to the Fed, but the White House may not be ready for what comes next. When high inflation rages in a mid-election year, the best political move may be to push the finger at the central bank. After all, stabilizing prices is one of their important tasks. Government leaders may find, though, that the price of curbing inflation is a recession. It is unclear whether they are prepared for this outcome.</p><p>With prices in Europe, America and Australia rising at the fastest rate in decades, it is reasonable for central bankers to continue their tasks without political pressure. In theory, at least, central banks should be able to act quickly and not require inter-party haggling like government legislation.</p><p>For the government, this is a win-win situation: they can shirk the responsibility of failure while enjoying the joy of success. On Tuesday, U.S. President Joe Biden's speech to Federal Reserve Chairman Jerome Powell carried a strong sense of authorization. Biden declared:</p><p>\"My plan is to tackle inflation, and it starts with a simple proposition: respect the Fed, respect the independence of the Fed, which I have done now and will continue to do.\" The autonomy of the Fed is all seen as the gold standard-just as previous US President Trump abused Powell and offered to remove him. Even at the best of times, that independence isn't entirely pure, and Fed officials keep an eye on the mood in Congress.</p><p><b>So why does Biden feel the need to emphasize that Powell is free to play? Columnist Daniel Moss pointed out that the reason is that the chairman of the Federal Reserve should recognize the opportunities and dangers implied in the process of free play. The subtext is that you can tighten economic policy as much as you want, but it's your responsibility, and you have to be responsible for it.</b></p><p>Of course, while leaders want inflation to pull back, they also like a strong labor market and hate recessions. Will Biden pay the ultimate price for ordering Powell to act? Moss is skeptical.</p><p>Powell may not want a recession either, but he has become acutely aware that the global economy is going downhill. It is inevitable to compare him with Paul Volcker, who was the chairman of the Federal Reserve from 1979 to 1987. Volcker stopped inflation at the expense of a severe recession, and he had unpleasant conversations with Reagan during his administration. In November's midterm elections, the polls are already bad for Democrats. Slowing economic growth and a cooling job market won't help.</p><p>As heroic as Volcker is, he may not be a perfect analogy under the current circumstances. The world in the early 1980s was quite controlled: the Cold War was raging, and half of the world had almost no capital markets. Volcker is hitting inflation with great force as he does so, because inflation has been worsening for at least a decade.<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>There's no comparison to what's going on now, wrote global economist Ethan Harris in a recent report:</p><p>\"The last thing the world needs right now is a Volcker-sized policy shock. Volcker has more or less deliberately created one of the biggest recessions in modern history. This time is different.\" While there's nothing central banks can do about supply chain bottlenecks, the bottlenecks may have peaked and a key measure of inflation could pull back before the end of the year.</p><p>Biden's remarks should also be viewed in the context of Washington's current broader defense. Earlier this week, Biden wrote an op-ed for the Wall Street Journal about how he would curb inflation. The upcoming monthly non-farm payrolls report on Friday may be the most politically significant economic report before inflation hits.<b>Senior officials have been cautious in saying that job growth could slow, a situation that Biden described as \"a sign that we are successfully entering the next phase of our recovery.\"</b>Now seems like a good time to set things right. U.S. Treasury Secretary Janet Yellen said in an interview with CNN that she mispredicted last year that price increases would be short-lived.</p><p>Yellen, who served as Fed chairman before Powell, is a good example. After the global financial crisis of 2007-2009, central banks around the world were surprised that there was no inflation. In fact, not every optimistic number hides a price increase. This makes policymakers from all central banks focus on promoting the warming of the labor market. They declare to be more inclined to outcomes than predictions.</p><p>The risk today is that if central banks need to wait for a clear and unambiguous sign that inflation is over, they may miss the opportunity to reverse the economy's downward turn. This may prevent them from not cutting interest rates more times in the future. This cycle will keep repeating itself.</p><p><b>The result is that central bank independence will be an attractive way to set the price of a currency because central banks can act quickly if needed.</b></p><p></body></html></p>","source":"jssj","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>Who's to blame for the recession, Biden or Powell?</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\">\nWho's to blame for the recession, Biden or Powell?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">金十数据</strong><span class=\"h-time small\">2022-06-02 18:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Biden has shifted the blame for the rapid rise in prices to the Fed, but the White House may not be ready for what comes next. When high inflation rages in a mid-election year, the best political move may be to push the finger at the central bank. After all, stabilizing prices is one of their important tasks. Government leaders may find, though, that the price of curbing inflation is a recession. It is unclear whether they are prepared for this outcome.</p><p>With prices in Europe, America and Australia rising at the fastest rate in decades, it is reasonable for central bankers to continue their tasks without political pressure. In theory, at least, central banks should be able to act quickly and not require inter-party haggling like government legislation.</p><p>For the government, this is a win-win situation: they can shirk the responsibility of failure while enjoying the joy of success. On Tuesday, U.S. President Joe Biden's speech to Federal Reserve Chairman Jerome Powell carried a strong sense of authorization. Biden declared:</p><p>\"My plan is to tackle inflation, and it starts with a simple proposition: respect the Fed, respect the independence of the Fed, which I have done now and will continue to do.\" The autonomy of the Fed is all seen as the gold standard-just as previous US President Trump abused Powell and offered to remove him. Even at the best of times, that independence isn't entirely pure, and Fed officials keep an eye on the mood in Congress.</p><p><b>So why does Biden feel the need to emphasize that Powell is free to play? Columnist Daniel Moss pointed out that the reason is that the chairman of the Federal Reserve should recognize the opportunities and dangers implied in the process of free play. The subtext is that you can tighten economic policy as much as you want, but it's your responsibility, and you have to be responsible for it.</b></p><p>Of course, while leaders want inflation to pull back, they also like a strong labor market and hate recessions. Will Biden pay the ultimate price for ordering Powell to act? Moss is skeptical.</p><p>Powell may not want a recession either, but he has become acutely aware that the global economy is going downhill. It is inevitable to compare him with Paul Volcker, who was the chairman of the Federal Reserve from 1979 to 1987. Volcker stopped inflation at the expense of a severe recession, and he had unpleasant conversations with Reagan during his administration. In November's midterm elections, the polls are already bad for Democrats. Slowing economic growth and a cooling job market won't help.</p><p>As heroic as Volcker is, he may not be a perfect analogy under the current circumstances. The world in the early 1980s was quite controlled: the Cold War was raging, and half of the world had almost no capital markets. Volcker is hitting inflation with great force as he does so, because inflation has been worsening for at least a decade.<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>There's no comparison to what's going on now, wrote global economist Ethan Harris in a recent report:</p><p>\"The last thing the world needs right now is a Volcker-sized policy shock. Volcker has more or less deliberately created one of the biggest recessions in modern history. This time is different.\" While there's nothing central banks can do about supply chain bottlenecks, the bottlenecks may have peaked and a key measure of inflation could pull back before the end of the year.</p><p>Biden's remarks should also be viewed in the context of Washington's current broader defense. Earlier this week, Biden wrote an op-ed for the Wall Street Journal about how he would curb inflation. The upcoming monthly non-farm payrolls report on Friday may be the most politically significant economic report before inflation hits.<b>Senior officials have been cautious in saying that job growth could slow, a situation that Biden described as \"a sign that we are successfully entering the next phase of our recovery.\"</b>Now seems like a good time to set things right. U.S. Treasury Secretary Janet Yellen said in an interview with CNN that she mispredicted last year that price increases would be short-lived.</p><p>Yellen, who served as Fed chairman before Powell, is a good example. After the global financial crisis of 2007-2009, central banks around the world were surprised that there was no inflation. In fact, not every optimistic number hides a price increase. This makes policymakers from all central banks focus on promoting the warming of the labor market. They declare to be more inclined to outcomes than predictions.</p><p>The risk today is that if central banks need to wait for a clear and unambiguous sign that inflation is over, they may miss the opportunity to reverse the economy's downward turn. This may prevent them from not cutting interest rates more times in the future. This cycle will keep repeating itself.</p><p><b>The result is that central bank independence will be an attractive way to set the price of a currency because central banks can act quickly if needed.</b></p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://xnews.jin10.com/details/95000\">金十数据</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/59f80b4f5ca39b50a8c2a9898ba64544","relate_stocks":{"161125":"标普500","513500":"标普500ETF博时","BK4534":"瑞士信贷持仓","OEF":"标普100指数ETF-iShares",".SPX":"S&P 500 Index","SH":"做空标普500-Proshares","SQQQ":"纳指三倍做空ETF",".IXIC":"NASDAQ Composite","BK4504":"桥水持仓","QID":"两倍做空纳斯达克指数ETF-ProShares","SDS":"两倍做空标普500 ETF-ProShares",".DJI":"道琼斯","PSQ":"做空纳斯达克100指数ETF-ProShares","UDOW":"三倍做多道指30ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares","IVV":"标普500ETF-iShares","SPY":"标普500ETF","DJX":"1/100道琼斯","DDM":"2倍做多道指ETF-ProShares"},"source_url":"https://xnews.jin10.com/details/95000","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125287126","content_text":"拜登已将物价快速上涨的责任推给了美联储，但白宫可能还没有为接下来的事情做好准备。当中期选举年遇上高通胀肆虐时，最好的政治举措可能是将矛头推向央行。毕竟，稳定物价是他们重要的工作任务之一。不过，政府领导人可能会发现，抑制通胀的代价是经济衰退。目前尚不清楚他们是否准备好应对这一结果。随着欧洲、美洲和澳洲的物价正在以几十年最快的速度上涨，让央行官员们在没有政治压力的情况下继续他们的任务是合理的。至少在理论上，央行应该能够迅速采取行动，不会像政府立法那样需要党派之间的讨价还价。对于政府来说，这是一个双赢的局面：他们可以一边为推卸失败的责任，一边享受成功的喜悦。周二，美国总统拜登对美联储主席鲍威尔的讲话中，就带有一种强烈的授权意味。拜登宣称：“我的计划是解决通货膨胀问题，这始于一个简单的命题：尊重美联储，尊重美联储的独立性，我现在已经这么做了，而且将继续这样做。”美联储的自主权都被视为是黄金标准——就像前任美国总统特朗普辱骂鲍威尔并提出罢免他一样。即使在最好的时候，这种独立性也不是完全纯粹的，美联储官员会密切关注国会的情绪。那么，为什么拜登觉得有必要去强调鲍威尔可以自由发挥呢？专栏作家Daniel Moss指出，原因在于，美联储主席应当会认识到自由发挥过程中所隐含的机遇和危险。潜台词是，你想如何紧缩经济政策都可以，但这是你的责任，你得对它负责。当然，虽然领导人希望通胀回落，但他们也喜欢强劲的劳动力市场，讨厌经济衰退。拜登是否会为因命令鲍威尔采取行动而付出最终代价？Moss对此持怀疑态度。鲍威尔可能也不想要经济衰退，但他已经敏锐地意识到全球经济正在走下坡路。人们不可避免地将他与1979年-1987年担任美联储主席的保罗•沃尔克相提并论。沃尔克以严重的经济衰退为代价阻止了通胀，并且他在里根执政期间也与里根有过令人不快的谈话。在11月的中期选举中，民意调查对于民主党人来说已经很糟糕了。经济增长放缓和就业市场降温并不会对此什么帮助。尽管沃尔克很英勇，但在当前情况下，他可能不是一个完美的类比。1980年代初期的世界相当受控制：冷战进行得很激烈，全球一半地区几乎没有资本市场。沃尔克在他这样做的时候以巨大的力量打击通胀，因为通货膨胀至少已经恶化了十年。美国银行全球经济学家伊桑哈里斯在最近的一份报告中写道，这与现在的情况无法相提并论：“世界现在最不需要的就是沃尔克规模的政策冲击。沃尔克或多或少地故意制造了现代历史上最大的衰退之一。这次不一样。”虽然央行对供应链瓶颈无能为力，但瓶颈可能已经达到顶峰，衡量通胀的一项关键指标可能会在年底前回落。拜登的言论也应该放在华盛顿当前更广泛的防御背景下去看待。本周早些时候，拜登为《华尔街日报》撰写了一篇关于他将如何遏制通胀的专栏文章。即将在周五发布的月度非农就业报告可能是通胀爆发前最具政治意义的经济报告。高级官员一直谨慎地表示，就业增长可能会放缓，而拜登将这种情况描述为“这是我们成功进入复苏的下一阶段的迹象”。现在似乎是纠正错误的好时机。美国财政部长耶伦（Janet Yellen）在接受CNN采访时表示，她去年错误地预测了物价上涨将是短暂的。而在鲍威尔之前担任美联储主席的耶伦则是一个很好的例子。2007-2009年全球金融危机之后，全球央行都因没有出现通胀而感到吃惊。实际上，并非每一个乐观的数字背后都隐藏着价格上涨。这使得从各个央行的政策制定者都专注于推动劳动力市场的升温。他们宣称更倾向于结果，而不是预测。如今的风险是，如果央行们需要等待通胀已经结束的明确和明确迹象，他们可能会错过扭转经济转向下行的机会。这可能会使他们不能不在未来降息更多次数。这种循环将不断重演下去。结果是，央行的独立性将是一种设定货币价格的有吸引力的方式，因为如果有需要，央行可以迅速采取行动。","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"DDM":0.9,".DJI":0.9,"IVV":0.9,"SH":0.9,"ESmain":0.9,".SPX":0.9,"OEF":0.9,"PSQ":0.9,".IXIC":0.9,"SDS":0.9,"UDOW":0.9,"DJX":0.9,"SPY":0.9,"SSO":0.9,"QID":0.9,"SQQQ":0.9}},"isVote":1,"tweetType":1,"viewCount":2967,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9024848384,"gmtCreate":1653863304848,"gmtModify":1676535350865,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9024848384","repostId":"1168055084","repostType":4,"repost":{"id":"1168055084","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1653638568,"share":"https://ttm.financial/m/news/1168055084?lang=en_US&edition=fundamental","pubTime":"2022-05-27 16:02","market":"us","language":"zh","title":"Pre-market changes | Popular Chinese concept stocks generally fell! Didi bucked the trend and rose more than 7%","url":"https://stock-news.laohu8.com/highlight/detail?id=1168055084","media":"老虎资讯综合","summary":"5月27日，美股三大股指期货小幅下跌，道指期货跌0.09%，纳指期货跌0.26%，标普500指数期货跌0.09%。热门中概股盘前走势分化，哔哩哔哩、RLX科技跌逾3%，阿里巴巴、蔚来、小鹏汽车跌逾1%","content":"<p><html><head></head><body>On May 27, the three major U.S. stock index futures fell slightly, with Dow futures falling 0.09%, Nasdaq futures falling 0.26%, and S&P 500 futures falling 0.09%.</p><p><img src=\"https://static.tigerbbs.com/853ba25e93031b37e0c67abf795b5359\" tg-width=\"385\" tg-height=\"192\" referrerpolicy=\"no-referrer\"/></p><p>The pre-market trend of popular Chinese concept stocks is divergent,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>、<a href=\"https://laohu8.com/S/RLX\">RLX Technology</a>Fell more than 3%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>、<a href=\"https://laohu8.com/S/NIO\">Nio</a>、<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>Fell more than 1%;<a href=\"https://laohu8.com/S/DIDI\">Didi</a>Rose more than 7%,<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>、<a href=\"https://laohu8.com/S/JD\">JD.com</a>Slightly higher.</p><p><a href=\"https://laohu8.com/S/COST\">Costco</a>It fell nearly 2% before the market, and the gross profit margin in Q3 fell by 0.99%. The market is worried that the gross profit margin will be under pressure due to inflation.</p><p><a href=\"https://laohu8.com/S/ACB\">Aurora Cannabis Inc</a>It fell more than 13% before the market and will raise approximately US $125 million through an underwriting agreement.</p><p><a href=\"https://laohu8.com/S/GPS\">Gap</a>It fell 16% before the market, and its first-quarter performance fell short of expectations. The company significantly lowered its full-year guidance for fiscal year 2022.</p><p><a href=\"https://laohu8.com/S/DELL\">Dell</a>It rose about 10.5% before the market, Q1 revenue and operating profit both hit new highs, and net profit increased by 62% year-on-year to US $1.1 billion.</p><p><a href=\"https://laohu8.com/S/MRVL\">Maiwell Technology</a>It rose nearly 4% before the market, and Q1 revenue increased 74% year-on-year to US $1.45 billion, which was better than market expectations.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Pre-market changes | Popular Chinese concept stocks generally fell! Didi bucked the trend and rose more than 7%</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\">\nPre-market changes | Popular Chinese concept stocks generally fell! Didi bucked the trend and rose more than 7%\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-05-27 16:02</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>On May 27, the three major U.S. stock index futures fell slightly, with Dow futures falling 0.09%, Nasdaq futures falling 0.26%, and S&P 500 futures falling 0.09%.</p><p><img src=\"https://static.tigerbbs.com/853ba25e93031b37e0c67abf795b5359\" tg-width=\"385\" tg-height=\"192\" referrerpolicy=\"no-referrer\"/></p><p>The pre-market trend of popular Chinese concept stocks is divergent,<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>、<a href=\"https://laohu8.com/S/RLX\">RLX Technology</a>Fell more than 3%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>、<a href=\"https://laohu8.com/S/NIO\">Nio</a>、<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>Fell more than 1%;<a href=\"https://laohu8.com/S/DIDI\">Didi</a>Rose more than 7%,<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>、<a href=\"https://laohu8.com/S/JD\">JD.com</a>Slightly higher.</p><p><a href=\"https://laohu8.com/S/COST\">Costco</a>It fell nearly 2% before the market, and the gross profit margin in Q3 fell by 0.99%. The market is worried that the gross profit margin will be under pressure due to inflation.</p><p><a href=\"https://laohu8.com/S/ACB\">Aurora Cannabis Inc</a>It fell more than 13% before the market and will raise approximately US $125 million through an underwriting agreement.</p><p><a href=\"https://laohu8.com/S/GPS\">Gap</a>It fell 16% before the market, and its first-quarter performance fell short of expectations. The company significantly lowered its full-year guidance for fiscal year 2022.</p><p><a href=\"https://laohu8.com/S/DELL\">Dell</a>It rose about 10.5% before the market, Q1 revenue and operating profit both hit new highs, and net profit increased by 62% year-on-year to US $1.1 billion.</p><p><a href=\"https://laohu8.com/S/MRVL\">Maiwell Technology</a>It rose nearly 4% before the market, and Q1 revenue increased 74% year-on-year to US $1.45 billion, which was better than market expectations.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fd680cd945fd32917c8ece66ec685e5f","relate_stocks":{"BK4535":"淡马锡持仓","09626":"哔哩哔哩-W","TQQQ":"纳指三倍做多ETF","TTTN":"老虎中美互联网巨头ETF","QQQ":"纳指100ETF",".DJI":"道琼斯","SPY":"标普500ETF","RLX":"雾芯科技","BABA":"阿里巴巴","QNETCN":"纳斯达克中美互联网老虎指数","BILI":"哔哩哔哩",".IXIC":"NASDAQ Composite","BK4539":"次新股","XPEV":"小鹏汽车","BK4561":"索罗斯持仓","NIO":"蔚来","03086":"华夏纳指","BK4531":"中概回港概念","BK4526":"热门中概股","SQQQ":"纳指三倍做空ETF","DIDI":"滴滴(已退市)","COST":"好市多","BK4022":"陆运","09868":"小鹏汽车-W","BK4505":"高瓴资本持仓"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168055084","content_text":"5月27日，美股三大股指期货小幅下跌，道指期货跌0.09%，纳指期货跌0.26%，标普500指数期货跌0.09%。热门中概股盘前走势分化，哔哩哔哩、RLX科技跌逾3%，阿里巴巴、蔚来、小鹏汽车跌逾1%；滴滴大涨逾7%，拼多多、京东小幅走高。好市多盘前跌近2%，Q3毛利率下降0.99%，市场担忧通胀下毛利率承压。奥罗拉大麻公司盘前跌逾13%，将通过包销协议融资约1.25亿美元。Gap盘前跌16%，一季度业绩不及预期，公司大幅下调2022财年全年指引。戴尔盘前涨约10.5%，Q1营收、运营利润均创新高，净利同比增62%至11亿美元。迈威尔科技盘前涨近4%，Q1营收同比增74%至14.5亿美元，好于市场预期。","news_type":1,"symbols_score_info":{"BABA":0.9,"DIDI":0.9,"XPEV":0.9,"TTTN":0.9,"SQQQ":0.9,"NQmain":0.9,"TQQQ":0.9,"SPY":0.9,"NIO":0.9,"09868":0.9,"03086":0.9,"QNETCN":0.9,"BILI":0.9,"RLX":0.9,"09626":0.9,"QQQ":0.9,"COST":0.9,".IXIC":0.9,".DJI":0.9,"YMmain":0.9}},"isVote":1,"tweetType":1,"viewCount":3060,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9024848020,"gmtCreate":1653863266160,"gmtModify":1676535350858,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9024848020","repostId":"1169637590","repostType":4,"isVote":1,"tweetType":1,"viewCount":2832,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9024894305,"gmtCreate":1653836091907,"gmtModify":1676535348985,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9024894305","repostId":"1123332477","repostType":4,"isVote":1,"tweetType":1,"viewCount":2751,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9025651922,"gmtCreate":1653690940966,"gmtModify":1676535325801,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9025651922","repostId":"1157934587","repostType":4,"isVote":1,"tweetType":1,"viewCount":895,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9021517291,"gmtCreate":1653086610813,"gmtModify":1676535219267,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021517291","repostId":"1190645914","repostType":4,"repost":{"id":"1190645914","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1653060803,"share":"https://ttm.financial/m/news/1190645914?lang=en_US&edition=fundamental","pubTime":"2022-05-20 23:33","market":"us","language":"en","title":"U.S. Stocks Opened Higher and Went Lower in Morning Trading, Nasdaq Slid Nearly 1%","url":"https://stock-news.laohu8.com/highlight/detail?id=1190645914","media":"Tiger Newspress","summary":"U.S. stocks opened higher and went lower in morning trading. Nasdaq slid 0.91%, while Dow Jones, S&P","content":"<html><head></head><body><p>U.S. stocks opened higher and went lower in morning trading. Nasdaq slid 0.91%, while Dow Jones, S&amp;P 500 slid 0.69% and 0.74% separately. <img src=\"https://static.tigerbbs.com/22a2e636433516c77f04710dd7e29052\" tg-width=\"517\" tg-height=\"122\" width=\"100%\" height=\"auto\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Stocks Opened Higher and Went Lower in Morning Trading, Nasdaq Slid Nearly 1%</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{ 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#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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Stocks Opened Higher and Went Lower in Morning Trading, Nasdaq Slid Nearly 1%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-05-20 23:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stocks opened higher and went lower in morning trading. Nasdaq slid 0.91%, while Dow Jones, S&amp;P 500 slid 0.69% and 0.74% separately. <img src=\"https://static.tigerbbs.com/22a2e636433516c77f04710dd7e29052\" tg-width=\"517\" tg-height=\"122\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190645914","content_text":"U.S. stocks opened higher and went lower in morning trading. Nasdaq slid 0.91%, while Dow Jones, S&P 500 slid 0.69% and 0.74% separately.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":732,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9029794411,"gmtCreate":1652830380533,"gmtModify":1676535168428,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9029794411","repostId":"2236220493","repostType":2,"isVote":1,"tweetType":1,"viewCount":1250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9029794656,"gmtCreate":1652830360475,"gmtModify":1676535168419,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9029794656","repostId":"2236274480","repostType":4,"repost":{"id":"2236274480","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1652828904,"share":"https://ttm.financial/m/news/2236274480?lang=en_US&edition=fundamental","pubTime":"2022-05-18 07:08","market":"us","language":"en","title":"Powell Says Fed Has Resolve to Bring U.S. Inflation Down","url":"https://stock-news.laohu8.com/highlight/detail?id=2236274480","media":"Dow Jones","summary":"Federal Reserve Chairman Jerome Powell said the central bank's resolve in combating the highest inflation in 40 years shouldn't be questioned, even if it requires pushing up unemployment.\"Restoring pr","content":"<html><head></head><body><p>Federal Reserve Chairman Jerome Powell said the central bank&#39;s resolve in combating the highest inflation in 40 years shouldn&#39;t be questioned, even if it requires pushing up unemployment.</p><p>&#34;Restoring price stability is a nonnegotiable need. It is something we have to do,&#34; Mr. Powell said in an interview Tuesday during The Wall Street Journal&#39;s Future of Everything Festival. &#34;There could be some pain involved.&#34;</p><p>Mr. Powell said he hoped that the Fed could bring down inflation while preserving a strong labor market, which he said might lead the unemployment rate -- near half-century lows of 3.6% in April -- to rise slightly. &#34;It may not be a perfect labor market,&#34; he said.</p><p>The central bank is raising interest rates as part of its most aggressive effort in decades to curb upward price pressures. Mr. Powell signaled Tuesday that the central bank was likely to follow a half-percentage-point raise earlier this month, to a range between 0.75% and 1%, with similar moves at meetings in June and July. Until this month, the Fed hadn&#39;t raised rates in such intervals since 2000.</p><p>The Fed last year maintained aggressive stimulus to spur a faster labor market recovery. Mr. Powell said Tuesday that it was possible that disruptions from the pandemic had changed the labor market in ways that made current levels of unemployment inconsistent with the Fed&#39;s 2% inflation goal.</p><p>He said that it seemed the unemployment rate consistent with stable inflation &#34;is probably well above 3.6%.&#34;</p><p>The Fed chairman repeated his hope that the central bank can curtail high inflation without spurring a large rise in unemployment. However, Mr. Powell said, there is little from modern economic experience to suggest that outcome can be achieved. &#34;If you look in the history book and find it -- no, you can&#39;t,&#34; he said. &#34;I think we are in a world of firsts.&#34;</p><p>Wells Fargo &amp; Co. Chief Executive Charlie Scharf, speaking at the same event Tuesday morning, said it would be difficult to avoid a recession but noted that consumers and businesses remain financially solid.</p><p>&#34;The fact that everyone is so strong going into this should hopefully provide a cushion such that whatever recession there is, if there is <a href=\"https://laohu8.com/S/AONE.U\">one</a>, is short and not all that deep,&#34; he said.</p><p>Mr. Powell said he wasn&#39;t at odds with those who believe the Fed faces a difficult path to achieving what is known as a &#34;soft landing,&#34; in which growth slows enough to bring down inflation without triggering a recession.</p><p>&#34;I would say there is no disagreement really. It is a challenging task, made more challenging the last couple months because of global events,&#34; he said. &#34;It is challenging because unemployment is very low already and because inflation is very high.&#34;</p><p>Fed officials described higher inflation a year ago as temporary. They backed away from that characterization last fall, as the labor market healed rapidly and price pressures broadened.</p><p>Still, the Fed as recently as January had expected inflation to diminish this spring as supply-chain bottlenecks improved. Russia&#39;s invasion of Ukraine in late February and rolling Covid-related lockdowns in China created new sources of inflationary pressures.</p><p>&#34;That is going to make it harder for inflation to come down, so it has added a degree of difficulty to what was already a challenging market,&#34; said Mr. Powell.</p><p>The Fed&#39;s stopping point for rate increases isn&#39;t certainty. If inflation doesn&#39;t show signs of diminishing soon, more officials could conclude that rates need to rise closer to 4% over the next 12 to 18 months, rather than to a level around 3% that most of them projected at their policy meeting two months ago.</p><p>&#34;We will go until we feel like we are at a place where we can say, &#39;Yes, financial conditions are at an appropriate place. We see inflation coming down,&#39;&#34; Mr. Powell said. &#34;We will go to that point, and there will not be any hesitation about that.&#34;</p><p>The most recent inflation data has been mixed. On a monthly basis, the consumer-price index&#39;s gauge of core prices, which excludes food and energy, rose a seasonally adjusted 0.6% in April, according to a Labor Department report last week, and rose 6.2% over the previous 12 months.</p><p>The Fed uses a different gauge, the personal-consumption expenditures price index. April inflation data from that Commerce Department report will be released on May 27. Based on other recently released figures, Wall Street forecasters estimate a more muted rise in inflation using that measure. Economists at <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> think core PCE inflation rose by less than 0.3% in April, bringing the 12-month rate of change to 4.8%, from 5.2% in March.</p><p>&#34;This is not a time for tremendously nuanced readings of inflation,&#34; Mr. Powell said. &#34;We need to see inflation coming down in a convincing way. Until we do, we&#39;ll keep going.&#34;</p></body></html>","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>Powell Says Fed Has Resolve to Bring U.S. Inflation Down</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nPowell Says Fed Has Resolve to Bring U.S. Inflation Down\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-05-18 07:08</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Federal Reserve Chairman Jerome Powell said the central bank&#39;s resolve in combating the highest inflation in 40 years shouldn&#39;t be questioned, even if it requires pushing up unemployment.</p><p>&#34;Restoring price stability is a nonnegotiable need. It is something we have to do,&#34; Mr. Powell said in an interview Tuesday during The Wall Street Journal&#39;s Future of Everything Festival. &#34;There could be some pain involved.&#34;</p><p>Mr. Powell said he hoped that the Fed could bring down inflation while preserving a strong labor market, which he said might lead the unemployment rate -- near half-century lows of 3.6% in April -- to rise slightly. &#34;It may not be a perfect labor market,&#34; he said.</p><p>The central bank is raising interest rates as part of its most aggressive effort in decades to curb upward price pressures. Mr. Powell signaled Tuesday that the central bank was likely to follow a half-percentage-point raise earlier this month, to a range between 0.75% and 1%, with similar moves at meetings in June and July. Until this month, the Fed hadn&#39;t raised rates in such intervals since 2000.</p><p>The Fed last year maintained aggressive stimulus to spur a faster labor market recovery. Mr. Powell said Tuesday that it was possible that disruptions from the pandemic had changed the labor market in ways that made current levels of unemployment inconsistent with the Fed&#39;s 2% inflation goal.</p><p>He said that it seemed the unemployment rate consistent with stable inflation &#34;is probably well above 3.6%.&#34;</p><p>The Fed chairman repeated his hope that the central bank can curtail high inflation without spurring a large rise in unemployment. However, Mr. Powell said, there is little from modern economic experience to suggest that outcome can be achieved. &#34;If you look in the history book and find it -- no, you can&#39;t,&#34; he said. &#34;I think we are in a world of firsts.&#34;</p><p>Wells Fargo &amp; Co. Chief Executive Charlie Scharf, speaking at the same event Tuesday morning, said it would be difficult to avoid a recession but noted that consumers and businesses remain financially solid.</p><p>&#34;The fact that everyone is so strong going into this should hopefully provide a cushion such that whatever recession there is, if there is <a href=\"https://laohu8.com/S/AONE.U\">one</a>, is short and not all that deep,&#34; he said.</p><p>Mr. Powell said he wasn&#39;t at odds with those who believe the Fed faces a difficult path to achieving what is known as a &#34;soft landing,&#34; in which growth slows enough to bring down inflation without triggering a recession.</p><p>&#34;I would say there is no disagreement really. It is a challenging task, made more challenging the last couple months because of global events,&#34; he said. &#34;It is challenging because unemployment is very low already and because inflation is very high.&#34;</p><p>Fed officials described higher inflation a year ago as temporary. They backed away from that characterization last fall, as the labor market healed rapidly and price pressures broadened.</p><p>Still, the Fed as recently as January had expected inflation to diminish this spring as supply-chain bottlenecks improved. Russia&#39;s invasion of Ukraine in late February and rolling Covid-related lockdowns in China created new sources of inflationary pressures.</p><p>&#34;That is going to make it harder for inflation to come down, so it has added a degree of difficulty to what was already a challenging market,&#34; said Mr. Powell.</p><p>The Fed&#39;s stopping point for rate increases isn&#39;t certainty. If inflation doesn&#39;t show signs of diminishing soon, more officials could conclude that rates need to rise closer to 4% over the next 12 to 18 months, rather than to a level around 3% that most of them projected at their policy meeting two months ago.</p><p>&#34;We will go until we feel like we are at a place where we can say, &#39;Yes, financial conditions are at an appropriate place. We see inflation coming down,&#39;&#34; Mr. Powell said. &#34;We will go to that point, and there will not be any hesitation about that.&#34;</p><p>The most recent inflation data has been mixed. On a monthly basis, the consumer-price index&#39;s gauge of core prices, which excludes food and energy, rose a seasonally adjusted 0.6% in April, according to a Labor Department report last week, and rose 6.2% over the previous 12 months.</p><p>The Fed uses a different gauge, the personal-consumption expenditures price index. April inflation data from that Commerce Department report will be released on May 27. Based on other recently released figures, Wall Street forecasters estimate a more muted rise in inflation using that measure. Economists at <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> think core PCE inflation rose by less than 0.3% in April, bringing the 12-month rate of change to 4.8%, from 5.2% in March.</p><p>&#34;This is not a time for tremendously nuanced readings of inflation,&#34; Mr. Powell said. &#34;We need to see inflation coming down in a convincing way. Until we do, we&#39;ll keep going.&#34;</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2236274480","content_text":"Federal Reserve Chairman Jerome Powell said the central bank's resolve in combating the highest inflation in 40 years shouldn't be questioned, even if it requires pushing up unemployment.\"Restoring price stability is a nonnegotiable need. It is something we have to do,\" Mr. Powell said in an interview Tuesday during The Wall Street Journal's Future of Everything Festival. \"There could be some pain involved.\"Mr. Powell said he hoped that the Fed could bring down inflation while preserving a strong labor market, which he said might lead the unemployment rate -- near half-century lows of 3.6% in April -- to rise slightly. \"It may not be a perfect labor market,\" he said.The central bank is raising interest rates as part of its most aggressive effort in decades to curb upward price pressures. Mr. Powell signaled Tuesday that the central bank was likely to follow a half-percentage-point raise earlier this month, to a range between 0.75% and 1%, with similar moves at meetings in June and July. Until this month, the Fed hadn't raised rates in such intervals since 2000.The Fed last year maintained aggressive stimulus to spur a faster labor market recovery. Mr. Powell said Tuesday that it was possible that disruptions from the pandemic had changed the labor market in ways that made current levels of unemployment inconsistent with the Fed's 2% inflation goal.He said that it seemed the unemployment rate consistent with stable inflation \"is probably well above 3.6%.\"The Fed chairman repeated his hope that the central bank can curtail high inflation without spurring a large rise in unemployment. However, Mr. Powell said, there is little from modern economic experience to suggest that outcome can be achieved. \"If you look in the history book and find it -- no, you can't,\" he said. \"I think we are in a world of firsts.\"Wells Fargo & Co. Chief Executive Charlie Scharf, speaking at the same event Tuesday morning, said it would be difficult to avoid a recession but noted that consumers and businesses remain financially solid.\"The fact that everyone is so strong going into this should hopefully provide a cushion such that whatever recession there is, if there is one, is short and not all that deep,\" he said.Mr. Powell said he wasn't at odds with those who believe the Fed faces a difficult path to achieving what is known as a \"soft landing,\" in which growth slows enough to bring down inflation without triggering a recession.\"I would say there is no disagreement really. It is a challenging task, made more challenging the last couple months because of global events,\" he said. \"It is challenging because unemployment is very low already and because inflation is very high.\"Fed officials described higher inflation a year ago as temporary. They backed away from that characterization last fall, as the labor market healed rapidly and price pressures broadened.Still, the Fed as recently as January had expected inflation to diminish this spring as supply-chain bottlenecks improved. Russia's invasion of Ukraine in late February and rolling Covid-related lockdowns in China created new sources of inflationary pressures.\"That is going to make it harder for inflation to come down, so it has added a degree of difficulty to what was already a challenging market,\" said Mr. Powell.The Fed's stopping point for rate increases isn't certainty. If inflation doesn't show signs of diminishing soon, more officials could conclude that rates need to rise closer to 4% over the next 12 to 18 months, rather than to a level around 3% that most of them projected at their policy meeting two months ago.\"We will go until we feel like we are at a place where we can say, 'Yes, financial conditions are at an appropriate place. We see inflation coming down,'\" Mr. Powell said. \"We will go to that point, and there will not be any hesitation about that.\"The most recent inflation data has been mixed. On a monthly basis, the consumer-price index's gauge of core prices, which excludes food and energy, rose a seasonally adjusted 0.6% in April, according to a Labor Department report last week, and rose 6.2% over the previous 12 months.The Fed uses a different gauge, the personal-consumption expenditures price index. April inflation data from that Commerce Department report will be released on May 27. Based on other recently released figures, Wall Street forecasters estimate a more muted rise in inflation using that measure. Economists at Morgan Stanley think core PCE inflation rose by less than 0.3% in April, bringing the 12-month rate of change to 4.8%, from 5.2% in March.\"This is not a time for tremendously nuanced readings of inflation,\" Mr. Powell said. \"We need to see inflation coming down in a convincing way. Until we do, we'll keep going.\"","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9065913680,"gmtCreate":1652138906140,"gmtModify":1676535036281,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9065913680","repostId":"2234688177","repostType":4,"isVote":1,"tweetType":1,"viewCount":995,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9065913391,"gmtCreate":1652138887613,"gmtModify":1676535036273,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9065913391","repostId":"2234688177","repostType":4,"isVote":1,"tweetType":1,"viewCount":870,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9065919765,"gmtCreate":1652138859957,"gmtModify":1676535036265,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9065919765","repostId":"2234884616","repostType":4,"isVote":1,"tweetType":1,"viewCount":1156,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9062880605,"gmtCreate":1652051034907,"gmtModify":1676535017629,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9062880605","repostId":"1151523366","repostType":4,"repost":{"id":"1151523366","kind":"news","pubTimestamp":1652050295,"share":"https://ttm.financial/m/news/1151523366?lang=en_US&edition=fundamental","pubTime":"2022-05-09 06:51","market":"us","language":"en","title":"Palantir, Disney, Occidental, Rivian, BioNTech, and Other Stocks for Investors to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1151523366","media":"Barrons","summary":"We’re past the peak of first-quarter earnings season, but with several notable companies still left ","content":"<html><head></head><body><p>We’re past the peak of first-quarter earnings season, but with several notable companies still left to report this week. The economic-data highlights of the week will be a pair of inflation measures.</p><p>Monday’s highlights will include BioNTech, Palantir Technologies, Simon Property Group, and Tyson Foods. Electronic Arts, Norwegian Cruise Line Holdings, and Occidental Petroleum report on Tuesday, followed by Walt Disney,  Rivian Automotive, and Toyota Motoron Wednesday. Brookfield Asset Management and Tapestry will release earnings on Thursday.</p><p><img src=\"https://static.tigerbbs.com/6917c65c235b29b3cad735f401b18555\" tg-width=\"1600\" tg-height=\"1450\" referrerpolicy=\"no-referrer\"/></p><p>The economic calendar is headlined by the Bureau of Labor Statistics’ consumer price and producer price indexes for April. Those are forecast to rise by 8.1% and 10.6%, respectively, year over year.</p><p>Other data out this week will include the National Federation of Independent Business’ Small Business Optimism Index for April on Tuesday and the University of Michigan’s Consumer Sentiment Index for May on Friday.</p><p>Federal Reserve Bank of New York President John Williams delivers a keynote address on U.S. monetary policy at a symposium hosted by the National Association for Business Economics and Deutsche Bundesbank, kicking off a full week for central bank speakers. Markets will be looking for more context and clarity on policy a week after the Fed executed its biggest interest-rate increase since 2000.</p><p><b>Monday 5/9</b></p><p>BioNTech, Duke Energy,Exelon,International Flavors &amp; Fragrances,Microchip Technology,Palantir Technologies, Simon Property Group, Tyson Foods, and Viatris report quarterly results.</p><p><b>Tuesday 5/10</b></p><p>Dentsply Sirona,Electronic Arts, Norwegian Cruise Line Holdings, Occidental Petroleum, Sysco,TransDigm Group,Welltower, and Wynn Resorts announce earnings.</p><p>Dish Network, Fortinet, Mondelez International, and Western Digital hold investor meetings.</p><p><b>The National Federation</b> of Independent Business releases its Small Business Optimism Index for April. Consensus estimate is for a 92.4 reading, about one point less than in March. The March figure is the lowest for the index since April of 2020, as a labor shortage and surging inflation have dampened small-business owners’ enthusiasm.</p><p><b>Wednesday 5/11</b></p><p>Walt Disney reports second-quarter fiscal-2022 results. Shares of the entertainment behemoth have been the worst performer in the DJIA over the past year over concerns about spending on content.</p><p><b>Rivian Automotive,</b> Steris, and Toyota Motor release quarterly results.</p><p><b>The Bureau of Labor</b> Statistics releases the consumer price index for April. Expectations are for a 8.1% year-over-year reading, while the core CPI, which excludes volatile food and energy prices, is seen jumping 5.9%. This compares with increases of 8.5% and 6.5% respectively, in March. Wall Street is hoping for confirmation that inflation has peaked, even as economists and the Federal Reserve expect inflation to remain much higher for far longer than they did just six months ago.</p><p><b>Thursday 5/12</b></p><p>Brookfield Asset Management, Constellation Energy,Motorola Solutions,and Tapestry hold conference calls to discuss earnings.</p><p>Micron Technology and WestRock hold their 2022 investor days.</p><p>Ford Motor,Intel,and Verizon Communicationshost their annual shareholder meetings.</p><p><b>The BLS releases</b> the producer price index for April. Consensus estimate is for a 10.6% year-over-year rise, compared with a 11.2% jump in March, which is the highest on record for index since the 12-month data were first calculated in late 2010. The core PPI is expected to increase 8.9%, after a 9.2% gain in March.</p><p><b>The Department of Labor</b> reports initial jobless claims for the week ending on May 7. In April, jobless claims averaged just 184,000. They recently hit a more-than-five-decade low, despite a workforce that is more than twice as large now as it was then.</p><p><b>Friday 5/13</b></p><p><b>The University of Michigan</b> releases its Consumer Sentiment Index for May. Economists forecast a 63.1 reading, about two point less than in April.</p></body></html>","source":"lsy1601382232898","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>Palantir, Disney, Occidental, Rivian, BioNTech, and Other Stocks for Investors to Watch This Week</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nPalantir, Disney, Occidental, Rivian, BioNTech, and Other Stocks for Investors to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-09 06:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/disney-occidental-rivian-palantir-biontech-and-other-stocks-for-investors-to-watch-this-week-51652036428?mod=hp_LEAD_5><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We’re past the peak of first-quarter earnings season, but with several notable companies still left to report this week. The economic-data highlights of the week will be a pair of inflation measures....</p>\n\n<a href=\"https://www.barrons.com/articles/disney-occidental-rivian-palantir-biontech-and-other-stocks-for-investors-to-watch-this-week-51652036428?mod=hp_LEAD_5\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BNTX":"BioNTech SE","EA":"艺电",".DJI":"道琼斯","TM":"丰田汽车","NCLH":"挪威邮轮","DIS":"迪士尼",".SPX":"S&P 500 Index","U":"Unity Software Inc.","PLTR":"Palantir Technologies Inc.",".IXIC":"NASDAQ Composite","RIVN":"Rivian Automotive, Inc.","OXY":"西方石油"},"source_url":"https://www.barrons.com/articles/disney-occidental-rivian-palantir-biontech-and-other-stocks-for-investors-to-watch-this-week-51652036428?mod=hp_LEAD_5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151523366","content_text":"We’re past the peak of first-quarter earnings season, but with several notable companies still left to report this week. The economic-data highlights of the week will be a pair of inflation measures.Monday’s highlights will include BioNTech, Palantir Technologies, Simon Property Group, and Tyson Foods. Electronic Arts, Norwegian Cruise Line Holdings, and Occidental Petroleum report on Tuesday, followed by Walt Disney,  Rivian Automotive, and Toyota Motoron Wednesday. Brookfield Asset Management and Tapestry will release earnings on Thursday.The economic calendar is headlined by the Bureau of Labor Statistics’ consumer price and producer price indexes for April. Those are forecast to rise by 8.1% and 10.6%, respectively, year over year.Other data out this week will include the National Federation of Independent Business’ Small Business Optimism Index for April on Tuesday and the University of Michigan’s Consumer Sentiment Index for May on Friday.Federal Reserve Bank of New York President John Williams delivers a keynote address on U.S. monetary policy at a symposium hosted by the National Association for Business Economics and Deutsche Bundesbank, kicking off a full week for central bank speakers. Markets will be looking for more context and clarity on policy a week after the Fed executed its biggest interest-rate increase since 2000.Monday 5/9BioNTech, Duke Energy,Exelon,International Flavors & Fragrances,Microchip Technology,Palantir Technologies, Simon Property Group, Tyson Foods, and Viatris report quarterly results.Tuesday 5/10Dentsply Sirona,Electronic Arts, Norwegian Cruise Line Holdings, Occidental Petroleum, Sysco,TransDigm Group,Welltower, and Wynn Resorts announce earnings.Dish Network, Fortinet, Mondelez International, and Western Digital hold investor meetings.The National Federation of Independent Business releases its Small Business Optimism Index for April. Consensus estimate is for a 92.4 reading, about one point less than in March. The March figure is the lowest for the index since April of 2020, as a labor shortage and surging inflation have dampened small-business owners’ enthusiasm.Wednesday 5/11Walt Disney reports second-quarter fiscal-2022 results. Shares of the entertainment behemoth have been the worst performer in the DJIA over the past year over concerns about spending on content.Rivian Automotive, Steris, and Toyota Motor release quarterly results.The Bureau of Labor Statistics releases the consumer price index for April. Expectations are for a 8.1% year-over-year reading, while the core CPI, which excludes volatile food and energy prices, is seen jumping 5.9%. This compares with increases of 8.5% and 6.5% respectively, in March. Wall Street is hoping for confirmation that inflation has peaked, even as economists and the Federal Reserve expect inflation to remain much higher for far longer than they did just six months ago.Thursday 5/12Brookfield Asset Management, Constellation Energy,Motorola Solutions,and Tapestry hold conference calls to discuss earnings.Micron Technology and WestRock hold their 2022 investor days.Ford Motor,Intel,and Verizon Communicationshost their annual shareholder meetings.The BLS releases the producer price index for April. Consensus estimate is for a 10.6% year-over-year rise, compared with a 11.2% jump in March, which is the highest on record for index since the 12-month data were first calculated in late 2010. The core PPI is expected to increase 8.9%, after a 9.2% gain in March.The Department of Labor reports initial jobless claims for the week ending on May 7. In April, jobless claims averaged just 184,000. They recently hit a more-than-five-decade low, despite a workforce that is more than twice as large now as it was then.Friday 5/13The University of Michigan releases its Consumer Sentiment Index for May. Economists forecast a 63.1 reading, about two point less than in April.","news_type":1,"symbols_score_info":{"DIS":0.9,".DJI":0.9,".SPX":0.9,"OXY":0.9,".IXIC":0.9,"TM":0.9,"RIVN":0.9,"BNTX":0.9,"EA":0.9,"PLTR":0.9,"U":0.9,"NCLH":0.9}},"isVote":1,"tweetType":1,"viewCount":999,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9062880044,"gmtCreate":1652051013188,"gmtModify":1676535017614,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9062880044","repostId":"2233559861","repostType":4,"repost":{"id":"2233559861","kind":"highlight","pubTimestamp":1652014810,"share":"https://ttm.financial/m/news/2233559861?lang=en_US&edition=fundamental","pubTime":"2022-05-08 21:00","market":"us","language":"zh","title":"The selling wave of U.S. stocks is intensifying. Will this data become a turning point in the market?","url":"https://stock-news.laohu8.com/highlight/detail?id=2233559861","media":"第一财经","summary":"华尔街又经历了动荡的五个交易日。美联储决议并未像3月那样成为短期市场的底部，三大股指延续了4月以来的调整步伐。风险资产抛售潮的背后，是投资者对美国经济软着陆的担忧。市场开始将目光转向了即将公布的消费者","content":"<p><div>Wall Street had another volatile five trading days. The Federal Reserve's decision did not become the bottom of the short-term market as it did in March, and the three major stock indexes continued the pace of adjustment since April. Behind the sell-off of risky assets are investors' worries about a soft landing of the US economy. The market has begun to turn its attention to the upcoming consumer price index (CPI). The impact of the data on inflation expectations may suppress funds' speculation about the path of the rate hike, thus bringing respite to the market that continues to fall. The game of inflation expectations heats up. The Federal Reserve's interest rate meeting is undoubtedly the biggest focus in the near future. The Federal Open Market Committee (FOMC) decided to put the federal...</p><p><a href=\"https://www.yicai.com/news/101405369.html\">Web link</a></div></p>","source":"dyvj","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>The selling wave of U.S. stocks is intensifying. Will this data become a turning point in 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\">\nThe selling wave of U.S. stocks is intensifying. Will this data become a turning point in the market?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">第一财经</strong><span class=\"h-time small\">2022-05-08 21:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div>Wall Street had another volatile five trading days. The Federal Reserve's decision did not become the bottom of the short-term market as it did in March, and the three major stock indexes continued the pace of adjustment since April. Behind the sell-off of risky assets are investors' worries about a soft landing of the US economy. The market has begun to turn its attention to the upcoming consumer price index (CPI). The impact of the data on inflation expectations may suppress funds' speculation about the path of the rate hike, thus bringing respite to the market that continues to fall. The game of inflation expectations heats up. The Federal Reserve's interest rate meeting is undoubtedly the biggest focus in the near future. The Federal Open Market Committee (FOMC) decided to put the federal...</p><p><a href=\"https://www.yicai.com/news/101405369.html\">Web link</a></div></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.yicai.com/news/101405369.html\">第一财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/528f1b5f95c1aa85d740d858963e7e8f","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://www.yicai.com/news/101405369.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2233559861","content_text":"华尔街又经历了动荡的五个交易日。美联储决议并未像3月那样成为短期市场的底部，三大股指延续了4月以来的调整步伐。风险资产抛售潮的背后，是投资者对美国经济软着陆的担忧。市场开始将目光转向了即将公布的消费者物价指数（CPI），数据对通胀预期的影响可能会打压资金对于加息路径的猜测，进而为持续下跌的市场带来喘息机会。通胀预期博弈升温美联储议息会议无疑是近期最大焦点，联邦公开市场委员会（FOMC）决定将联邦基金利率上调至0.75%-1.00%，这也是2000年以来首次加息50个基点。与此同时，缩减资产负债表计划也随之公布，美联储计划在9月将缩表规模提升至950亿美元，这是历史上最快的缩表周期之一。通过收紧货币政策，美联储希望在实现控制通胀的同时，避免经济衰退的发生。在一季度国内生产总值（GDP）意外回落后，本周公布的包括制造业、服务业采购经理人指数（PMI）、贸易逆差等数据，都在显示美国经济动能有进一步放缓的迹象。牛津经济研究院高级经济学家施瓦茨（Bob Schwartz）在接受第一财经记者采访时表示，高涨的物价问题仍然是美联储的主要担忧，快速上涨的商品和服务价格，正在侵蚀美国家庭收入，对消费者信心形成了负面影响。考虑到供应链瓶颈和地缘政治因素，美联储想要在政策和经济之间找到平衡点，正面临巨大挑战。货币政策开始对信贷市场产生冲击。房地美上周报告称，30年期抵押贷款利率达到5.27%，比此前一周上升17个基点，为2009年以来的最高水平。从近两周公布的成屋销售、新屋开工等数据看，新一轮加息周期和即将开始的缩表周期，让买房者在不断上涨的房价面前开始望而却步。值得注意的是，美联储加息后，高涨的通胀预期并未随之明显降温。虽然美联储主席鲍威尔在发布会上称，并未对75个基点加息“积极考虑”，根据芝加哥商品交易所（CME）利率观察工具FedWatch的最新数据，投资者认为6月加息75基点的可能性高达83%，而美联储上一次这么做还是在1994年11月。在外界看来，未来通胀的走向将很大程度上决定美联储的加息路径。最新公布的非农就业报告显示，劳动力市场需求依然强劲，但小时薪资增速较上月有所放缓。施瓦茨认为，随着储蓄率下降和管制措施放松，美国劳动力市场供应增加将给工资增长带来下行压力，这有望印证鲍威尔对“工资-价格螺旋”的风险评估。市场已经把目光转向下周将公布的CPI，如果增速能从此前创造的40年高位回落的话，通胀预期的有效降温可能缓解美联储的政策压力。施瓦茨告诉第一财经记者，他认为75个基点的加息幅度过于激进，更倾向于美联储将在未来两次会议继续加息50个基点，以避免出现政策收紧过快冲击经济的情况。市场反弹是否临近美联储加息周期的冲击波仍在延续，芝加哥期权交易所市场波动性指数（VIX）本周一度冲击年内新高。目前道指已经连跌六周，标普500指数自2011年以来首次出现周线五连阴的情况。科技股持续表现不佳，截至6日收盘，纳指较去年11月历史高点已经回撤近25%。政策预期不断推高美债收益率，基准10年期美债上周一度触及突破3.10%，冲击了其依赖现金流的估值体系。美国投资公司爱德华琼斯(EdwardJones)的投资策略师库尔卡法斯（Angelo Kourkafas）表示：“成长股表现不佳与实际收益率的上升直接相关，而目前实际收益率已经处于正区间。其实问题不仅在于不同利率制度带来的估值压力，还在于相关需求有所提前，这是本财报季相关板块所表现出的主要趋势之一。”市场动荡也打压了投资者情绪。美国个人投资者协会（AAII）最新每周调查显示，个人投资者对未来六个月前景“看跌”的比例上升至59.4%，为2009年以来的最高水平。另一项情绪指标——市场恐惧与贪婪指数已经连续第四周处于恐慌区间。投资者继续抛售各类风险资产。金融市场数据和基础设施提供商路孚特（Refinitiv Lipper）的数据显示，截至5月4日的一周内，美国投资者抛售了价值55.2亿美元的债券基金，连续净卖出达到17周，股票基金净流出37.6亿美元，其中成长型基金卖出39.3亿美元。避险情绪推动下，本周货币市场基金录得净买入26.3亿美元。美股连续调整后，不少资金在衍生品市场上为超跌反弹摩拳擦掌。根据嘉信理财为第一财经记者提供的数据，过去一周，VIX看涨期权和看跌期权未平仓量分别环比增长1.8%和14.7%，与此同时，标普500指数看涨期权未平仓量增长2.6%，看跌期权回落1.5%，两者都显示，投资者在押注短期美股将企稳回升。不过，不少华尔街机构认为，本轮市场调整的低点尚未出现。高盛首席经济学家哈齐乌斯（Jan Hatzius）上周预计，美股将出现震荡下跌的走势。他在报告中写道：“如果我们短期不会出现衰退的预测是正确的，那么今年迄今为止看到的模式可能会继续下去：只要衰退不正式出现，股市就会不断探底反抽，同时利率曲线和大宗商品价格会随着时间的推移继续走高。”文末，让我们看看市场将有哪些重要事件及重要财报吧！下周前瞻 | 美国4月CPI即将揭晓；西方石油、理想汽车财报来袭周一，佛诞翌日，港股休市，美股正常开市。周二起，港股开始交易。经济数据方面，中国4月贸易帐、货币供应数据、美国批发销售数据将公布。周二，经济数据方面，美国4月NFIB小型企业信心指数、中国4月全社会用电量等数据将公布。事件方面，FOMC永久票委、纽约联储主席威廉姆斯将发表讲话。周三，经济数据方面，中国4月CPI/PPI、美国4月CPI等重要经济数据将公布。新股方面，云康集团新股申购结束。周四，经济数据方面，美国4月PPI、美国当周初请失业金人数等数据将公布。周五，经济数据方面，美国4月进口物价指数、5月密歇根大学消费者信心指数等数据将公布。事件方面，2023年FOMC票委、明尼阿波利斯联储主席卡什卡利将就能源和通胀发表讲话。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1087,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9066486000,"gmtCreate":1651944590500,"gmtModify":1676535001354,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576803992145384","authorIdStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9066486000","repostId":"2233315662","repostType":4,"isVote":1,"tweetType":1,"viewCount":1021,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9029794656,"gmtCreate":1652830360475,"gmtModify":1676535168419,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576803992145384","idStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9029794656","repostId":"2236274480","repostType":4,"repost":{"id":"2236274480","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1652828904,"share":"https://ttm.financial/m/news/2236274480?lang=en_US&edition=fundamental","pubTime":"2022-05-18 07:08","market":"us","language":"en","title":"Powell Says Fed Has Resolve to Bring U.S. Inflation Down","url":"https://stock-news.laohu8.com/highlight/detail?id=2236274480","media":"Dow Jones","summary":"Federal Reserve Chairman Jerome Powell said the central bank's resolve in combating the highest inflation in 40 years shouldn't be questioned, even if it requires pushing up unemployment.\"Restoring pr","content":"<html><head></head><body><p>Federal Reserve Chairman Jerome Powell said the central bank&#39;s resolve in combating the highest inflation in 40 years shouldn&#39;t be questioned, even if it requires pushing up unemployment.</p><p>&#34;Restoring price stability is a nonnegotiable need. It is something we have to do,&#34; Mr. Powell said in an interview Tuesday during The Wall Street Journal&#39;s Future of Everything Festival. &#34;There could be some pain involved.&#34;</p><p>Mr. Powell said he hoped that the Fed could bring down inflation while preserving a strong labor market, which he said might lead the unemployment rate -- near half-century lows of 3.6% in April -- to rise slightly. &#34;It may not be a perfect labor market,&#34; he said.</p><p>The central bank is raising interest rates as part of its most aggressive effort in decades to curb upward price pressures. Mr. Powell signaled Tuesday that the central bank was likely to follow a half-percentage-point raise earlier this month, to a range between 0.75% and 1%, with similar moves at meetings in June and July. Until this month, the Fed hadn&#39;t raised rates in such intervals since 2000.</p><p>The Fed last year maintained aggressive stimulus to spur a faster labor market recovery. Mr. Powell said Tuesday that it was possible that disruptions from the pandemic had changed the labor market in ways that made current levels of unemployment inconsistent with the Fed&#39;s 2% inflation goal.</p><p>He said that it seemed the unemployment rate consistent with stable inflation &#34;is probably well above 3.6%.&#34;</p><p>The Fed chairman repeated his hope that the central bank can curtail high inflation without spurring a large rise in unemployment. However, Mr. Powell said, there is little from modern economic experience to suggest that outcome can be achieved. &#34;If you look in the history book and find it -- no, you can&#39;t,&#34; he said. &#34;I think we are in a world of firsts.&#34;</p><p>Wells Fargo &amp; Co. Chief Executive Charlie Scharf, speaking at the same event Tuesday morning, said it would be difficult to avoid a recession but noted that consumers and businesses remain financially solid.</p><p>&#34;The fact that everyone is so strong going into this should hopefully provide a cushion such that whatever recession there is, if there is <a href=\"https://laohu8.com/S/AONE.U\">one</a>, is short and not all that deep,&#34; he said.</p><p>Mr. Powell said he wasn&#39;t at odds with those who believe the Fed faces a difficult path to achieving what is known as a &#34;soft landing,&#34; in which growth slows enough to bring down inflation without triggering a recession.</p><p>&#34;I would say there is no disagreement really. It is a challenging task, made more challenging the last couple months because of global events,&#34; he said. &#34;It is challenging because unemployment is very low already and because inflation is very high.&#34;</p><p>Fed officials described higher inflation a year ago as temporary. They backed away from that characterization last fall, as the labor market healed rapidly and price pressures broadened.</p><p>Still, the Fed as recently as January had expected inflation to diminish this spring as supply-chain bottlenecks improved. Russia&#39;s invasion of Ukraine in late February and rolling Covid-related lockdowns in China created new sources of inflationary pressures.</p><p>&#34;That is going to make it harder for inflation to come down, so it has added a degree of difficulty to what was already a challenging market,&#34; said Mr. Powell.</p><p>The Fed&#39;s stopping point for rate increases isn&#39;t certainty. If inflation doesn&#39;t show signs of diminishing soon, more officials could conclude that rates need to rise closer to 4% over the next 12 to 18 months, rather than to a level around 3% that most of them projected at their policy meeting two months ago.</p><p>&#34;We will go until we feel like we are at a place where we can say, &#39;Yes, financial conditions are at an appropriate place. We see inflation coming down,&#39;&#34; Mr. Powell said. &#34;We will go to that point, and there will not be any hesitation about that.&#34;</p><p>The most recent inflation data has been mixed. On a monthly basis, the consumer-price index&#39;s gauge of core prices, which excludes food and energy, rose a seasonally adjusted 0.6% in April, according to a Labor Department report last week, and rose 6.2% over the previous 12 months.</p><p>The Fed uses a different gauge, the personal-consumption expenditures price index. April inflation data from that Commerce Department report will be released on May 27. Based on other recently released figures, Wall Street forecasters estimate a more muted rise in inflation using that measure. Economists at <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> think core PCE inflation rose by less than 0.3% in April, bringing the 12-month rate of change to 4.8%, from 5.2% in March.</p><p>&#34;This is not a time for tremendously nuanced readings of inflation,&#34; Mr. Powell said. &#34;We need to see inflation coming down in a convincing way. Until we do, we&#39;ll keep going.&#34;</p></body></html>","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>Powell Says Fed Has Resolve to Bring U.S. Inflation Down</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nPowell Says Fed Has Resolve to Bring U.S. Inflation Down\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-05-18 07:08</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Federal Reserve Chairman Jerome Powell said the central bank&#39;s resolve in combating the highest inflation in 40 years shouldn&#39;t be questioned, even if it requires pushing up unemployment.</p><p>&#34;Restoring price stability is a nonnegotiable need. It is something we have to do,&#34; Mr. Powell said in an interview Tuesday during The Wall Street Journal&#39;s Future of Everything Festival. &#34;There could be some pain involved.&#34;</p><p>Mr. Powell said he hoped that the Fed could bring down inflation while preserving a strong labor market, which he said might lead the unemployment rate -- near half-century lows of 3.6% in April -- to rise slightly. &#34;It may not be a perfect labor market,&#34; he said.</p><p>The central bank is raising interest rates as part of its most aggressive effort in decades to curb upward price pressures. Mr. Powell signaled Tuesday that the central bank was likely to follow a half-percentage-point raise earlier this month, to a range between 0.75% and 1%, with similar moves at meetings in June and July. Until this month, the Fed hadn&#39;t raised rates in such intervals since 2000.</p><p>The Fed last year maintained aggressive stimulus to spur a faster labor market recovery. Mr. Powell said Tuesday that it was possible that disruptions from the pandemic had changed the labor market in ways that made current levels of unemployment inconsistent with the Fed&#39;s 2% inflation goal.</p><p>He said that it seemed the unemployment rate consistent with stable inflation &#34;is probably well above 3.6%.&#34;</p><p>The Fed chairman repeated his hope that the central bank can curtail high inflation without spurring a large rise in unemployment. However, Mr. Powell said, there is little from modern economic experience to suggest that outcome can be achieved. &#34;If you look in the history book and find it -- no, you can&#39;t,&#34; he said. &#34;I think we are in a world of firsts.&#34;</p><p>Wells Fargo &amp; Co. Chief Executive Charlie Scharf, speaking at the same event Tuesday morning, said it would be difficult to avoid a recession but noted that consumers and businesses remain financially solid.</p><p>&#34;The fact that everyone is so strong going into this should hopefully provide a cushion such that whatever recession there is, if there is <a href=\"https://laohu8.com/S/AONE.U\">one</a>, is short and not all that deep,&#34; he said.</p><p>Mr. Powell said he wasn&#39;t at odds with those who believe the Fed faces a difficult path to achieving what is known as a &#34;soft landing,&#34; in which growth slows enough to bring down inflation without triggering a recession.</p><p>&#34;I would say there is no disagreement really. It is a challenging task, made more challenging the last couple months because of global events,&#34; he said. &#34;It is challenging because unemployment is very low already and because inflation is very high.&#34;</p><p>Fed officials described higher inflation a year ago as temporary. They backed away from that characterization last fall, as the labor market healed rapidly and price pressures broadened.</p><p>Still, the Fed as recently as January had expected inflation to diminish this spring as supply-chain bottlenecks improved. Russia&#39;s invasion of Ukraine in late February and rolling Covid-related lockdowns in China created new sources of inflationary pressures.</p><p>&#34;That is going to make it harder for inflation to come down, so it has added a degree of difficulty to what was already a challenging market,&#34; said Mr. Powell.</p><p>The Fed&#39;s stopping point for rate increases isn&#39;t certainty. If inflation doesn&#39;t show signs of diminishing soon, more officials could conclude that rates need to rise closer to 4% over the next 12 to 18 months, rather than to a level around 3% that most of them projected at their policy meeting two months ago.</p><p>&#34;We will go until we feel like we are at a place where we can say, &#39;Yes, financial conditions are at an appropriate place. We see inflation coming down,&#39;&#34; Mr. Powell said. &#34;We will go to that point, and there will not be any hesitation about that.&#34;</p><p>The most recent inflation data has been mixed. On a monthly basis, the consumer-price index&#39;s gauge of core prices, which excludes food and energy, rose a seasonally adjusted 0.6% in April, according to a Labor Department report last week, and rose 6.2% over the previous 12 months.</p><p>The Fed uses a different gauge, the personal-consumption expenditures price index. April inflation data from that Commerce Department report will be released on May 27. Based on other recently released figures, Wall Street forecasters estimate a more muted rise in inflation using that measure. Economists at <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> think core PCE inflation rose by less than 0.3% in April, bringing the 12-month rate of change to 4.8%, from 5.2% in March.</p><p>&#34;This is not a time for tremendously nuanced readings of inflation,&#34; Mr. Powell said. &#34;We need to see inflation coming down in a convincing way. Until we do, we&#39;ll keep going.&#34;</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2236274480","content_text":"Federal Reserve Chairman Jerome Powell said the central bank's resolve in combating the highest inflation in 40 years shouldn't be questioned, even if it requires pushing up unemployment.\"Restoring price stability is a nonnegotiable need. It is something we have to do,\" Mr. Powell said in an interview Tuesday during The Wall Street Journal's Future of Everything Festival. \"There could be some pain involved.\"Mr. Powell said he hoped that the Fed could bring down inflation while preserving a strong labor market, which he said might lead the unemployment rate -- near half-century lows of 3.6% in April -- to rise slightly. \"It may not be a perfect labor market,\" he said.The central bank is raising interest rates as part of its most aggressive effort in decades to curb upward price pressures. Mr. Powell signaled Tuesday that the central bank was likely to follow a half-percentage-point raise earlier this month, to a range between 0.75% and 1%, with similar moves at meetings in June and July. Until this month, the Fed hadn't raised rates in such intervals since 2000.The Fed last year maintained aggressive stimulus to spur a faster labor market recovery. Mr. Powell said Tuesday that it was possible that disruptions from the pandemic had changed the labor market in ways that made current levels of unemployment inconsistent with the Fed's 2% inflation goal.He said that it seemed the unemployment rate consistent with stable inflation \"is probably well above 3.6%.\"The Fed chairman repeated his hope that the central bank can curtail high inflation without spurring a large rise in unemployment. However, Mr. Powell said, there is little from modern economic experience to suggest that outcome can be achieved. \"If you look in the history book and find it -- no, you can't,\" he said. \"I think we are in a world of firsts.\"Wells Fargo & Co. Chief Executive Charlie Scharf, speaking at the same event Tuesday morning, said it would be difficult to avoid a recession but noted that consumers and businesses remain financially solid.\"The fact that everyone is so strong going into this should hopefully provide a cushion such that whatever recession there is, if there is one, is short and not all that deep,\" he said.Mr. Powell said he wasn't at odds with those who believe the Fed faces a difficult path to achieving what is known as a \"soft landing,\" in which growth slows enough to bring down inflation without triggering a recession.\"I would say there is no disagreement really. It is a challenging task, made more challenging the last couple months because of global events,\" he said. \"It is challenging because unemployment is very low already and because inflation is very high.\"Fed officials described higher inflation a year ago as temporary. They backed away from that characterization last fall, as the labor market healed rapidly and price pressures broadened.Still, the Fed as recently as January had expected inflation to diminish this spring as supply-chain bottlenecks improved. Russia's invasion of Ukraine in late February and rolling Covid-related lockdowns in China created new sources of inflationary pressures.\"That is going to make it harder for inflation to come down, so it has added a degree of difficulty to what was already a challenging market,\" said Mr. Powell.The Fed's stopping point for rate increases isn't certainty. If inflation doesn't show signs of diminishing soon, more officials could conclude that rates need to rise closer to 4% over the next 12 to 18 months, rather than to a level around 3% that most of them projected at their policy meeting two months ago.\"We will go until we feel like we are at a place where we can say, 'Yes, financial conditions are at an appropriate place. We see inflation coming down,'\" Mr. Powell said. \"We will go to that point, and there will not be any hesitation about that.\"The most recent inflation data has been mixed. On a monthly basis, the consumer-price index's gauge of core prices, which excludes food and energy, rose a seasonally adjusted 0.6% in April, according to a Labor Department report last week, and rose 6.2% over the previous 12 months.The Fed uses a different gauge, the personal-consumption expenditures price index. April inflation data from that Commerce Department report will be released on May 27. Based on other recently released figures, Wall Street forecasters estimate a more muted rise in inflation using that measure. Economists at Morgan Stanley think core PCE inflation rose by less than 0.3% in April, bringing the 12-month rate of change to 4.8%, from 5.2% in March.\"This is not a time for tremendously nuanced readings of inflation,\" Mr. Powell said. \"We need to see inflation coming down in a convincing way. Until we do, we'll keep going.\"","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9054679887,"gmtCreate":1655388036349,"gmtModify":1676535627987,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576803992145384","idStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9054679887","repostId":"1118727036","repostType":4,"repost":{"id":"1118727036","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1655386410,"share":"https://ttm.financial/m/news/1118727036?lang=en_US&edition=fundamental","pubTime":"2022-06-16 21:33","market":"us","language":"en","title":"Dow Tumbles 500 Points, Reversing Wednesday’S Gains on Rising Recession Fears","url":"https://stock-news.laohu8.com/highlight/detail?id=1118727036","media":"Tiger Newspress","summary":"U.S. stocks were under pressure Thursday, putting the major averages to give up the solid gains made","content":"<html><head></head><body><p>U.S. stocks were under pressure Thursday, putting the major averages to give up the solid gains made in the previous session.</p><p>Futures contracts tied to the Dow Jones Industrial Average dropped 1.5%, or 460 points. S&amp;P 500 futures were down 1.7%, while Nasdaq 100 futures shed 2%. All three futures contracts had earlier been trading in positive territory.</p><p>The 10-year Treasury yield resumed its massive June run on Thursday, reversing higher overnight. The 10-year yield was last around 3.44% after ending May at 2.84%.</p><p>Those moves come after the Federal Reserve implemented its largest interest rate hike since 1994 on Wednesday. The Fed raised rates by75 basis points, as was widely anticipated.</p><p>“Clearly, today’s 75 basis point increase is an unusually large one, and I do not expect moves of this size to be common,” Federal Reserve ChairmanJerome Powell said at a news conference following the decision.</p><p>Stocks took a leg higher Wednesday after Powell said that a 50 or 75 basis point increase “seems most likely”at the next meeting in July, indicating the central bank’s commitment to fighting inflation. Powell did caution, however, that decisions will be made “meeting by meeting.”</p><p>The major averages ended the session higher, with the Dow and S&amp;P 500 both snapping five-day losing streaks. The 30-stock benchmark added about 304 points, or 1%, while the S&amp;P 500 advanced 1.46%. The tech-heavy Nasdaq Composite was the relative outperformer, rising 2.5%.</p><p>However, market sentiment appeared to sour once again Thursday as other central banks around the globe adopted more aggressive policy stances and investors questioned whether the Fed can pull off a soft landing.</p><p>The Swiss National Bank overnight raised rates for the first time in 15 years. The Bank of England was set on Thursday to raise rates for the fifth straight time.</p><p>“It’s about time we exit this artificial world of predictable massive liquidity injections where everybody gets used to zero interest rates, where we do silly things whether it’s investing in parts of the market we shouldn’t be investing in or investing in the economy in ways that don’t make sense,” Allianz chief investment advisor Mohamed El-Erian told CNBC’s “Squawk Box” on Thursday. “We are exiting that regime and it’s going to be bumpy.”</p><p>Tech shares moved lower in premarket trading following Wednesday’s bounce, with Tesla, PayPal, Nvidia, Amazon and Netflix all down more than 3%.</p><p>“There is an astonishing level of tech selling right now,” wrote CNBC’s Jim Cramer in a tweet Thursday. “It is breathtaking to watch as sellers are sending the best techs down gigantically at 5 a.m.”</p><p>Travel stocks including United, Delta and Carnival also took a leg lower.</p><p>Data out Thursday further indicated a dramatic slowdown in economic activity. Housing starts dropped 14% in May, topping the 2.6% decline expected by economists polled by Dow Jones. The Philadelphia Fed Business Index for June came in with a negative 3.3 reading, its first contraction since May 2020</p><p>The major averages entered Thursday’s session down for the week and well below record levels.</p><p>The S&amp;P 500 and Nasdaq Composite are both in bear market territory, down roughly 21% and 32% from their all-time highs in January and November, respectively. The Dow, meantime, is 17% below its Jan. 5 all-time intraday high.</p><p>Rampant inflation, which is at the highest level in 40 years, has weighed on the major averages, as have fears around slowing economic growth and the possibility of a recession.</p><p>Morgan Stanley chief U.S. equity strategist Michael Wilson warned that the inflation problem won’t be solved overnight.</p><p>“It also raises the risk of a recession because you’re bringing forward rate hikes even faster, and I don’t think it’s going to help the bond market,” he said on CNBC’s“Closing Bell.”</p><p>Economic data out Thursday includes weekly jobless claims numbers, with economists surveyed by Dow Jones forecasting a 220,000 print. Housing starts will also be released, whileAdobeandKrogerwill report quarterly updates.</p></body></html>","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>Dow Tumbles 500 Points, Reversing Wednesday’S Gains on Rising Recession Fears</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nDow Tumbles 500 Points, Reversing Wednesday’S Gains on Rising Recession Fears\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-06-16 21:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stocks were under pressure Thursday, putting the major averages to give up the solid gains made in the previous session.</p><p>Futures contracts tied to the Dow Jones Industrial Average dropped 1.5%, or 460 points. S&amp;P 500 futures were down 1.7%, while Nasdaq 100 futures shed 2%. All three futures contracts had earlier been trading in positive territory.</p><p>The 10-year Treasury yield resumed its massive June run on Thursday, reversing higher overnight. The 10-year yield was last around 3.44% after ending May at 2.84%.</p><p>Those moves come after the Federal Reserve implemented its largest interest rate hike since 1994 on Wednesday. The Fed raised rates by75 basis points, as was widely anticipated.</p><p>“Clearly, today’s 75 basis point increase is an unusually large one, and I do not expect moves of this size to be common,” Federal Reserve ChairmanJerome Powell said at a news conference following the decision.</p><p>Stocks took a leg higher Wednesday after Powell said that a 50 or 75 basis point increase “seems most likely”at the next meeting in July, indicating the central bank’s commitment to fighting inflation. Powell did caution, however, that decisions will be made “meeting by meeting.”</p><p>The major averages ended the session higher, with the Dow and S&amp;P 500 both snapping five-day losing streaks. The 30-stock benchmark added about 304 points, or 1%, while the S&amp;P 500 advanced 1.46%. The tech-heavy Nasdaq Composite was the relative outperformer, rising 2.5%.</p><p>However, market sentiment appeared to sour once again Thursday as other central banks around the globe adopted more aggressive policy stances and investors questioned whether the Fed can pull off a soft landing.</p><p>The Swiss National Bank overnight raised rates for the first time in 15 years. The Bank of England was set on Thursday to raise rates for the fifth straight time.</p><p>“It’s about time we exit this artificial world of predictable massive liquidity injections where everybody gets used to zero interest rates, where we do silly things whether it’s investing in parts of the market we shouldn’t be investing in or investing in the economy in ways that don’t make sense,” Allianz chief investment advisor Mohamed El-Erian told CNBC’s “Squawk Box” on Thursday. “We are exiting that regime and it’s going to be bumpy.”</p><p>Tech shares moved lower in premarket trading following Wednesday’s bounce, with Tesla, PayPal, Nvidia, Amazon and Netflix all down more than 3%.</p><p>“There is an astonishing level of tech selling right now,” wrote CNBC’s Jim Cramer in a tweet Thursday. “It is breathtaking to watch as sellers are sending the best techs down gigantically at 5 a.m.”</p><p>Travel stocks including United, Delta and Carnival also took a leg lower.</p><p>Data out Thursday further indicated a dramatic slowdown in economic activity. Housing starts dropped 14% in May, topping the 2.6% decline expected by economists polled by Dow Jones. The Philadelphia Fed Business Index for June came in with a negative 3.3 reading, its first contraction since May 2020</p><p>The major averages entered Thursday’s session down for the week and well below record levels.</p><p>The S&amp;P 500 and Nasdaq Composite are both in bear market territory, down roughly 21% and 32% from their all-time highs in January and November, respectively. The Dow, meantime, is 17% below its Jan. 5 all-time intraday high.</p><p>Rampant inflation, which is at the highest level in 40 years, has weighed on the major averages, as have fears around slowing economic growth and the possibility of a recession.</p><p>Morgan Stanley chief U.S. equity strategist Michael Wilson warned that the inflation problem won’t be solved overnight.</p><p>“It also raises the risk of a recession because you’re bringing forward rate hikes even faster, and I don’t think it’s going to help the bond market,” he said on CNBC’s“Closing Bell.”</p><p>Economic data out Thursday includes weekly jobless claims numbers, with economists surveyed by Dow Jones forecasting a 220,000 print. Housing starts will also be released, whileAdobeandKrogerwill report quarterly updates.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118727036","content_text":"U.S. stocks were under pressure Thursday, putting the major averages to give up the solid gains made in the previous session.Futures contracts tied to the Dow Jones Industrial Average dropped 1.5%, or 460 points. S&P 500 futures were down 1.7%, while Nasdaq 100 futures shed 2%. All three futures contracts had earlier been trading in positive territory.The 10-year Treasury yield resumed its massive June run on Thursday, reversing higher overnight. The 10-year yield was last around 3.44% after ending May at 2.84%.Those moves come after the Federal Reserve implemented its largest interest rate hike since 1994 on Wednesday. The Fed raised rates by75 basis points, as was widely anticipated.“Clearly, today’s 75 basis point increase is an unusually large one, and I do not expect moves of this size to be common,” Federal Reserve ChairmanJerome Powell said at a news conference following the decision.Stocks took a leg higher Wednesday after Powell said that a 50 or 75 basis point increase “seems most likely”at the next meeting in July, indicating the central bank’s commitment to fighting inflation. Powell did caution, however, that decisions will be made “meeting by meeting.”The major averages ended the session higher, with the Dow and S&P 500 both snapping five-day losing streaks. The 30-stock benchmark added about 304 points, or 1%, while the S&P 500 advanced 1.46%. The tech-heavy Nasdaq Composite was the relative outperformer, rising 2.5%.However, market sentiment appeared to sour once again Thursday as other central banks around the globe adopted more aggressive policy stances and investors questioned whether the Fed can pull off a soft landing.The Swiss National Bank overnight raised rates for the first time in 15 years. The Bank of England was set on Thursday to raise rates for the fifth straight time.“It’s about time we exit this artificial world of predictable massive liquidity injections where everybody gets used to zero interest rates, where we do silly things whether it’s investing in parts of the market we shouldn’t be investing in or investing in the economy in ways that don’t make sense,” Allianz chief investment advisor Mohamed El-Erian told CNBC’s “Squawk Box” on Thursday. “We are exiting that regime and it’s going to be bumpy.”Tech shares moved lower in premarket trading following Wednesday’s bounce, with Tesla, PayPal, Nvidia, Amazon and Netflix all down more than 3%.“There is an astonishing level of tech selling right now,” wrote CNBC’s Jim Cramer in a tweet Thursday. “It is breathtaking to watch as sellers are sending the best techs down gigantically at 5 a.m.”Travel stocks including United, Delta and Carnival also took a leg lower.Data out Thursday further indicated a dramatic slowdown in economic activity. Housing starts dropped 14% in May, topping the 2.6% decline expected by economists polled by Dow Jones. The Philadelphia Fed Business Index for June came in with a negative 3.3 reading, its first contraction since May 2020The major averages entered Thursday’s session down for the week and well below record levels.The S&P 500 and Nasdaq Composite are both in bear market territory, down roughly 21% and 32% from their all-time highs in January and November, respectively. The Dow, meantime, is 17% below its Jan. 5 all-time intraday high.Rampant inflation, which is at the highest level in 40 years, has weighed on the major averages, as have fears around slowing economic growth and the possibility of a recession.Morgan Stanley chief U.S. equity strategist Michael Wilson warned that the inflation problem won’t be solved overnight.“It also raises the risk of a recession because you’re bringing forward rate hikes even faster, and I don’t think it’s going to help the bond market,” he said on CNBC’s“Closing Bell.”Economic data out Thursday includes weekly jobless claims numbers, with economists surveyed by Dow Jones forecasting a 220,000 print. Housing starts will also be released, whileAdobeandKrogerwill report quarterly updates.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2478,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9065913680,"gmtCreate":1652138906140,"gmtModify":1676535036281,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576803992145384","idStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9065913680","repostId":"2234688177","repostType":4,"isVote":1,"tweetType":1,"viewCount":995,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153459617,"gmtCreate":1625044543839,"gmtModify":1703850788785,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576803992145384","idStr":"3576803992145384"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/153459617","repostId":"1100844519","repostType":4,"repost":{"id":"1100844519","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624850864,"share":"https://ttm.financial/m/news/1100844519?lang=en_US&edition=fundamental","pubTime":"2021-06-28 11:27","market":"sh","language":"zh","title":"Reminder: Due to the anniversary of Hong Kong's return, Hong Kong stocks will be closed on July 1","url":"https://stock-news.laohu8.com/highlight/detail?id=1100844519","media":"老虎资讯综合","summary":"据悉，因7月1日（周四）香港特别行政区成立纪念日，港股休市一日。具体安排如下：港股\n7月1日（周四）休市一日。7月2日（周五）照常开市。\n美股、A股、英股、澳股、新加坡市场等照常交易。\n沪股通、深股通","content":"<p>It is reported that due to the anniversary of the establishment of the Hong Kong Special Administrative Region on July 1 (Thursday), the Hong Kong stock market will be closed for one day. The specific arrangement is as follows:<img src=\"https://static.tigerbbs.com/eaa05e0ac274f01336380bf4d575542d\" tg-width=\"787\" tg-height=\"667\" referrerpolicy=\"no-referrer\"><b>Hong Kong Stocks</b></p><p>The market will be closed for one day on July 1 (Thursday). The market will open as usual on July 2nd (Friday).</p><p><b>U.S. stocks, A-shares, British stocks, Australian stocks, Singapore markets, etc. are trading as usual.</b></p><p><b>Shanghai Stock Connect and Shenzhen Stock Connect:</b></p><p>The service will not be available from June 30th (Wednesday) to July 1st (Thursday), and will be open as usual from July 2nd (Friday).</p><p><b>Hong Kong Stock Connect:</b></p><p>The service will not be available on July 1st (Thursday), but will be open as usual from July 2nd (Friday).</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reminder: Due to the anniversary of Hong Kong's return, Hong Kong stocks will be closed on July 1</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\">\nReminder: Due to the anniversary of Hong Kong's return, Hong Kong stocks will be closed on July 1\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-28 11:27</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>It is reported that due to the anniversary of the establishment of the Hong Kong Special Administrative Region on July 1 (Thursday), the Hong Kong stock market will be closed for one day. The specific arrangement is as follows:<img src=\"https://static.tigerbbs.com/eaa05e0ac274f01336380bf4d575542d\" tg-width=\"787\" tg-height=\"667\" referrerpolicy=\"no-referrer\"><b>Hong Kong Stocks</b></p><p>The market will be closed for one day on July 1 (Thursday). The market will open as usual on July 2nd (Friday).</p><p><b>U.S. stocks, A-shares, British stocks, Australian stocks, Singapore markets, etc. are trading as usual.</b></p><p><b>Shanghai Stock Connect and Shenzhen Stock Connect:</b></p><p>The service will not be available from June 30th (Wednesday) to July 1st (Thursday), and will be open as usual from July 2nd (Friday).</p><p><b>Hong Kong Stock Connect:</b></p><p>The service will not be available on July 1st (Thursday), but will be open as usual from July 2nd (Friday).</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a6adcf1f575211fc4f9ca7f666658417","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100844519","content_text":"据悉，因7月1日（周四）香港特别行政区成立纪念日，港股休市一日。具体安排如下：港股\n7月1日（周四）休市一日。7月2日（周五）照常开市。\n美股、A股、英股、澳股、新加坡市场等照常交易。\n沪股通、深股通：\n6月30日（周三）至7月1日（周四）不提供服务，7月2日（周五）起照常开通。\n港股通：\n7月1日（周四）不提供服务，7月2日（周五）起照常开通。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":911,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125410743,"gmtCreate":1624685191382,"gmtModify":1703843636719,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576803992145384","idStr":"3576803992145384"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/125410743","repostId":"2146005842","repostType":4,"repost":{"id":"2146005842","kind":"news","pubTimestamp":1624668303,"share":"https://ttm.financial/m/news/2146005842?lang=en_US&edition=fundamental","pubTime":"2021-06-26 08:45","market":"hk","language":"zh","title":"New Stock News | Yacht International Holdings Co., Ltd. submitted a form to the Growth Enterprise Market of the Hong Kong Stock Exchange, mainly engaged in the first-hand yacht sales of luxury and mid-to-high-end brands","url":"https://stock-news.laohu8.com/highlight/detail?id=2146005842","media":"智通财经","summary":"智通财经APP获悉，据港交所6月25日披露，游艇国际控股有限公司向港交所创业板递交上市申请，独家保荐人为新华汇富旗下汇富融资有限公司。公司是以香港为基地的游艇经销集团，主要从事豪华及中高端品牌的一手游艇销售。公司亦从事二手游艇及其他配套配件销售及提供全面的增值服务，包括保养及维修服务。公司在香港设有一个销售办事处以推广最新型号游艇来吸引潜在客户及促进游艇销售。","content":"<p><html><body>Zhitong Finance APP learned that according to the disclosure of the Hong Kong Stock Exchange on June 25, Yacht International Holdings Co., Ltd. submitted a listing application to the Growth Enterprise Market of the Hong Kong Stock Exchange, and the sole sponsor was Huifu Capital Co., Ltd., a subsidiary of Xinhua Huifu.</p><p><center><img src=\"https://img.zhitongcaijing.com/image/20210626/1624667864475917.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1624667864475917.png\"/></center>The company started distributing yachts in Hong Kong in 2014. Since 2014 and 2015, the<a href=\"https://laohu8.com/S/DLX\">Luxurious</a>The motor yacht brands are Absolute and Azimut, which are among the few internationally renowned luxury motor yacht brands. The company is a yacht distribution group based in Hong Kong, mainly engaged in the first-hand yacht sales of luxury and high-end brands. The company is also engaged in the sale of used yachts and other ancillary accessories and the provision of comprehensive value-added services, including maintenance and repair services. During the Track Record Period, the company's yacht sales were basically all carried out in Hong Kong, and the company was able to expand its sales network to Singapore, Taiwan and Shenzhen. The company has a balanced product portfolio, providing a wide range of products such as luxury motor yachts, sports boats and inflatable boats to attract a wide range of customers. The company has a sales office in Hong Kong to promote the latest yacht models to attract potential customers and promote yacht sales. The company's customers are mainly individuals (product end users) with high disposable income in Hong Kong and a number of enterprises.</p><p>As at the Latest Practicable Date, the Company's brand portfolio included two luxury brands-Absolute and Azimut and two mid-to-high-end brands-Four Winns and Zar Formenti. In fiscal year 2019, fiscal year 2020 and fiscal year 2021, the sales of first-hand Absolute luxury motor yachts were HK $47.3 million, HK $32.7 million and HK $60.1 million, accounting for approximately 19.2%, 12.9% and 13.0% of the company's revenue respectively; In fiscal year 2019, fiscal year 2020 and fiscal year 2021, the sales of first-hand Azimut luxury motor yachts were HK $181.4 million, HK $195.4 million and HK $325 million, accounting for approximately 73.5%, 77.1% and 70.5% of the company's revenue respectively;</p><p>In fiscal year 2019, fiscal year 2020 and fiscal year 2021, the company's sales to its five largest customers were approximately HK $163.3 million, HK $193.1 million and HK $222.2 million respectively, accounting for 66.2%, 76.1% and 48.3% of total revenue; And the annual sales to the largest customer in the relevant year were HK $79.6 million, HK $62.6 million and HK $91.2 million respectively, accounting for 32.3%, 24.7% and 19.8% of the total revenue.</p><p>During the Track Record Period, the Company's revenue was derived from (i) sales of yachts and related components; And (ii) service income. Revenue was HK $246.7 million, HK $253.6 million and HK $461.2 million for FY2019, FY2020 and FY2021, respectively. The gross profit for the same year was HK $34.15 million, HK $38.97 million and HK $57.97 million respectively.</p><p><center><img src=\"https://img.zhitongcaijing.com/image/20210626/1624667847635417.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1624667847635417.png\"/></p><p></center></body></html></p>","source":"stock_zhitongcaijing","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>New Stock News | Yacht International Holdings Co., Ltd. submitted a form to the Growth Enterprise Market of the Hong Kong Stock Exchange, mainly engaged in the first-hand yacht sales of luxury and mid-to-high-end brands</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\">\nNew Stock News | Yacht International Holdings Co., Ltd. submitted a form to the Growth Enterprise Market of the Hong Kong Stock Exchange, mainly engaged in the first-hand yacht sales of luxury and mid-to-high-end brands\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经</strong><span class=\"h-time small\">2021-06-26 08:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body>Zhitong Finance APP learned that according to the disclosure of the Hong Kong Stock Exchange on June 25, Yacht International Holdings Co., Ltd. submitted a listing application to the Growth Enterprise Market of the Hong Kong Stock Exchange, and the sole sponsor was Huifu Capital Co., Ltd., a subsidiary of Xinhua Huifu.</p><p><center><img src=\"https://img.zhitongcaijing.com/image/20210626/1624667864475917.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1624667864475917.png\"/></center>The company started distributing yachts in Hong Kong in 2014. Since 2014 and 2015, the<a href=\"https://laohu8.com/S/DLX\">Luxurious</a>The motor yacht brands are Absolute and Azimut, which are among the few internationally renowned luxury motor yacht brands. The company is a yacht distribution group based in Hong Kong, mainly engaged in the first-hand yacht sales of luxury and high-end brands. The company is also engaged in the sale of used yachts and other ancillary accessories and the provision of comprehensive value-added services, including maintenance and repair services. During the Track Record Period, the company's yacht sales were basically all carried out in Hong Kong, and the company was able to expand its sales network to Singapore, Taiwan and Shenzhen. The company has a balanced product portfolio, providing a wide range of products such as luxury motor yachts, sports boats and inflatable boats to attract a wide range of customers. The company has a sales office in Hong Kong to promote the latest yacht models to attract potential customers and promote yacht sales. The company's customers are mainly individuals (product end users) with high disposable income in Hong Kong and a number of enterprises.</p><p>As at the Latest Practicable Date, the Company's brand portfolio included two luxury brands-Absolute and Azimut and two mid-to-high-end brands-Four Winns and Zar Formenti. In fiscal year 2019, fiscal year 2020 and fiscal year 2021, the sales of first-hand Absolute luxury motor yachts were HK $47.3 million, HK $32.7 million and HK $60.1 million, accounting for approximately 19.2%, 12.9% and 13.0% of the company's revenue respectively; In fiscal year 2019, fiscal year 2020 and fiscal year 2021, the sales of first-hand Azimut luxury motor yachts were HK $181.4 million, HK $195.4 million and HK $325 million, accounting for approximately 73.5%, 77.1% and 70.5% of the company's revenue respectively;</p><p>In fiscal year 2019, fiscal year 2020 and fiscal year 2021, the company's sales to its five largest customers were approximately HK $163.3 million, HK $193.1 million and HK $222.2 million respectively, accounting for 66.2%, 76.1% and 48.3% of total revenue; And the annual sales to the largest customer in the relevant year were HK $79.6 million, HK $62.6 million and HK $91.2 million respectively, accounting for 32.3%, 24.7% and 19.8% of the total revenue.</p><p>During the Track Record Period, the Company's revenue was derived from (i) sales of yachts and related components; And (ii) service income. Revenue was HK $246.7 million, HK $253.6 million and HK $461.2 million for FY2019, FY2020 and FY2021, respectively. The gross profit for the same year was HK $34.15 million, HK $38.97 million and HK $57.97 million respectively.</p><p><center><img src=\"https://img.zhitongcaijing.com/image/20210626/1624667847635417.png?x-oss-process=image/format,jpg/quality,Q_90\" title=\"1624667847635417.png\"/></p><p></center></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/501817.html\">智通财经</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5a0d8d07bb7c07ed67df2bae10160584","relate_stocks":{"159915":"创业板","399006":"创业板指","000001.SH":"上证指数","DLX":"豪华"},"source_url":"http://www.zhitongcaijing.com/content/detail/501817.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146005842","content_text":"智通财经APP获悉，据港交所6月25日披露，游艇国际控股有限公司向港交所创业板递交上市申请，独家保荐人为新华汇富旗下汇富融资有限公司。该公司于2014年开始在香港经销游艇。自2014年及2015年起，公司代理的豪华机动游艇品牌分别为Absolute及Azimut(为少数国际知名豪华机动游艇品牌)。公司是以香港为基地的游艇经销集团，主要从事豪华及中高端品牌的一手游艇销售。公司亦从事二手游艇及其他配套配件销售及提供全面的增值服务，包括保养及维修服务。于往绩期间，公司的游艇销售基本上全部于香港进行，且公司能够将销售网络扩展至新加坡、中国台湾及深圳。公司拥有均衡的产品组合，提供豪华机动游艇、运动艇及充气船等各式各样的产品，以吸纳广泛客户。公司在香港设有一个销售办事处以推广最新型号游艇来吸引潜在客户及促进游艇销售。公司的客户主要为在香港拥有高可支配收入的个人(产品终端用户)以及多间企业。于最后可行日期，公司的品牌组合包括两个豪华品牌 — Absolute及Azimut以及两个中高端品牌 — Four Winns及Zar  Formenti。于2019财政年度、2020财政年度及2021财政年度，一手Absolute豪华机动游艇的销售额为4730万港元、3270万港元及6010万港元，分别占公司收益的约19.2%、12.9%及13.0%;于2019财政年度、2020财政年度及2021财政年度，一手Azimut豪华机动游艇的销售额为1.814亿港元、1.954亿港元及3.25亿港元，分别占公司收益的约73.5%、77.1%及70.5%;于2019财政年度、2020财政年度及2021财政年度，公司向五大客户的销售分别为约1.633亿港元、1.931亿港元及2.222亿港元，占总收益66.2%、76.1%及48.3%;以及于相关年度每年向最大客户的销售分别为7960万港元、6260万港元及9120万港元，占总收益32.3%、24.7%及19.8%。于往绩期间，公司的收益源于(i)销售游艇及相关部件;及(ii)服务收入。于2019财政年度、2020财政年度及2021财政年度，收益分别为2.467亿港元、2.536亿港元及4.612亿港元。同年的毛利分别为3415万港元、3897万港元及5797万港元。","news_type":1,"symbols_score_info":{"159915":1,"399006":1,"000001.SH":1,"DLX":1}},"isVote":1,"tweetType":1,"viewCount":680,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9021517291,"gmtCreate":1653086610813,"gmtModify":1676535219267,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576803992145384","idStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021517291","repostId":"1190645914","repostType":4,"repost":{"id":"1190645914","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1653060803,"share":"https://ttm.financial/m/news/1190645914?lang=en_US&edition=fundamental","pubTime":"2022-05-20 23:33","market":"us","language":"en","title":"U.S. Stocks Opened Higher and Went Lower in Morning Trading, Nasdaq Slid Nearly 1%","url":"https://stock-news.laohu8.com/highlight/detail?id=1190645914","media":"Tiger Newspress","summary":"U.S. stocks opened higher and went lower in morning trading. Nasdaq slid 0.91%, while Dow Jones, S&P","content":"<html><head></head><body><p>U.S. stocks opened higher and went lower in morning trading. Nasdaq slid 0.91%, while Dow Jones, S&amp;P 500 slid 0.69% and 0.74% separately. <img src=\"https://static.tigerbbs.com/22a2e636433516c77f04710dd7e29052\" tg-width=\"517\" tg-height=\"122\" width=\"100%\" height=\"auto\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. Stocks Opened Higher and Went Lower in Morning Trading, Nasdaq Slid Nearly 1%</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; 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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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Stocks Opened Higher and Went Lower in Morning Trading, Nasdaq Slid Nearly 1%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-05-20 23:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>U.S. stocks opened higher and went lower in morning trading. Nasdaq slid 0.91%, while Dow Jones, S&amp;P 500 slid 0.69% and 0.74% separately. <img src=\"https://static.tigerbbs.com/22a2e636433516c77f04710dd7e29052\" tg-width=\"517\" tg-height=\"122\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190645914","content_text":"U.S. stocks opened higher and went lower in morning trading. Nasdaq slid 0.91%, while Dow Jones, S&P 500 slid 0.69% and 0.74% separately.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":732,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9065913391,"gmtCreate":1652138887613,"gmtModify":1676535036273,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576803992145384","idStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9065913391","repostId":"2234688177","repostType":4,"isVote":1,"tweetType":1,"viewCount":870,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9062880605,"gmtCreate":1652051034907,"gmtModify":1676535017629,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576803992145384","idStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9062880605","repostId":"1151523366","repostType":4,"repost":{"id":"1151523366","kind":"news","pubTimestamp":1652050295,"share":"https://ttm.financial/m/news/1151523366?lang=en_US&edition=fundamental","pubTime":"2022-05-09 06:51","market":"us","language":"en","title":"Palantir, Disney, Occidental, Rivian, BioNTech, and Other Stocks for Investors to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1151523366","media":"Barrons","summary":"We’re past the peak of first-quarter earnings season, but with several notable companies still left ","content":"<html><head></head><body><p>We’re past the peak of first-quarter earnings season, but with several notable companies still left to report this week. The economic-data highlights of the week will be a pair of inflation measures.</p><p>Monday’s highlights will include BioNTech, Palantir Technologies, Simon Property Group, and Tyson Foods. Electronic Arts, Norwegian Cruise Line Holdings, and Occidental Petroleum report on Tuesday, followed by Walt Disney,  Rivian Automotive, and Toyota Motoron Wednesday. Brookfield Asset Management and Tapestry will release earnings on Thursday.</p><p><img src=\"https://static.tigerbbs.com/6917c65c235b29b3cad735f401b18555\" tg-width=\"1600\" tg-height=\"1450\" referrerpolicy=\"no-referrer\"/></p><p>The economic calendar is headlined by the Bureau of Labor Statistics’ consumer price and producer price indexes for April. Those are forecast to rise by 8.1% and 10.6%, respectively, year over year.</p><p>Other data out this week will include the National Federation of Independent Business’ Small Business Optimism Index for April on Tuesday and the University of Michigan’s Consumer Sentiment Index for May on Friday.</p><p>Federal Reserve Bank of New York President John Williams delivers a keynote address on U.S. monetary policy at a symposium hosted by the National Association for Business Economics and Deutsche Bundesbank, kicking off a full week for central bank speakers. Markets will be looking for more context and clarity on policy a week after the Fed executed its biggest interest-rate increase since 2000.</p><p><b>Monday 5/9</b></p><p>BioNTech, Duke Energy,Exelon,International Flavors &amp; Fragrances,Microchip Technology,Palantir Technologies, Simon Property Group, Tyson Foods, and Viatris report quarterly results.</p><p><b>Tuesday 5/10</b></p><p>Dentsply Sirona,Electronic Arts, Norwegian Cruise Line Holdings, Occidental Petroleum, Sysco,TransDigm Group,Welltower, and Wynn Resorts announce earnings.</p><p>Dish Network, Fortinet, Mondelez International, and Western Digital hold investor meetings.</p><p><b>The National Federation</b> of Independent Business releases its Small Business Optimism Index for April. Consensus estimate is for a 92.4 reading, about one point less than in March. The March figure is the lowest for the index since April of 2020, as a labor shortage and surging inflation have dampened small-business owners’ enthusiasm.</p><p><b>Wednesday 5/11</b></p><p>Walt Disney reports second-quarter fiscal-2022 results. Shares of the entertainment behemoth have been the worst performer in the DJIA over the past year over concerns about spending on content.</p><p><b>Rivian Automotive,</b> Steris, and Toyota Motor release quarterly results.</p><p><b>The Bureau of Labor</b> Statistics releases the consumer price index for April. Expectations are for a 8.1% year-over-year reading, while the core CPI, which excludes volatile food and energy prices, is seen jumping 5.9%. This compares with increases of 8.5% and 6.5% respectively, in March. Wall Street is hoping for confirmation that inflation has peaked, even as economists and the Federal Reserve expect inflation to remain much higher for far longer than they did just six months ago.</p><p><b>Thursday 5/12</b></p><p>Brookfield Asset Management, Constellation Energy,Motorola Solutions,and Tapestry hold conference calls to discuss earnings.</p><p>Micron Technology and WestRock hold their 2022 investor days.</p><p>Ford Motor,Intel,and Verizon Communicationshost their annual shareholder meetings.</p><p><b>The BLS releases</b> the producer price index for April. Consensus estimate is for a 10.6% year-over-year rise, compared with a 11.2% jump in March, which is the highest on record for index since the 12-month data were first calculated in late 2010. The core PPI is expected to increase 8.9%, after a 9.2% gain in March.</p><p><b>The Department of Labor</b> reports initial jobless claims for the week ending on May 7. In April, jobless claims averaged just 184,000. They recently hit a more-than-five-decade low, despite a workforce that is more than twice as large now as it was then.</p><p><b>Friday 5/13</b></p><p><b>The University of Michigan</b> releases its Consumer Sentiment Index for May. Economists forecast a 63.1 reading, about two point less than in April.</p></body></html>","source":"lsy1601382232898","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>Palantir, Disney, Occidental, Rivian, BioNTech, and Other Stocks for Investors to Watch This Week</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nPalantir, Disney, Occidental, Rivian, BioNTech, and Other Stocks for Investors to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-09 06:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/disney-occidental-rivian-palantir-biontech-and-other-stocks-for-investors-to-watch-this-week-51652036428?mod=hp_LEAD_5><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We’re past the peak of first-quarter earnings season, but with several notable companies still left to report this week. The economic-data highlights of the week will be a pair of inflation measures....</p>\n\n<a href=\"https://www.barrons.com/articles/disney-occidental-rivian-palantir-biontech-and-other-stocks-for-investors-to-watch-this-week-51652036428?mod=hp_LEAD_5\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BNTX":"BioNTech SE","EA":"艺电",".DJI":"道琼斯","TM":"丰田汽车","NCLH":"挪威邮轮","DIS":"迪士尼",".SPX":"S&P 500 Index","U":"Unity Software Inc.","PLTR":"Palantir Technologies Inc.",".IXIC":"NASDAQ Composite","RIVN":"Rivian Automotive, Inc.","OXY":"西方石油"},"source_url":"https://www.barrons.com/articles/disney-occidental-rivian-palantir-biontech-and-other-stocks-for-investors-to-watch-this-week-51652036428?mod=hp_LEAD_5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151523366","content_text":"We’re past the peak of first-quarter earnings season, but with several notable companies still left to report this week. The economic-data highlights of the week will be a pair of inflation measures.Monday’s highlights will include BioNTech, Palantir Technologies, Simon Property Group, and Tyson Foods. Electronic Arts, Norwegian Cruise Line Holdings, and Occidental Petroleum report on Tuesday, followed by Walt Disney,  Rivian Automotive, and Toyota Motoron Wednesday. Brookfield Asset Management and Tapestry will release earnings on Thursday.The economic calendar is headlined by the Bureau of Labor Statistics’ consumer price and producer price indexes for April. Those are forecast to rise by 8.1% and 10.6%, respectively, year over year.Other data out this week will include the National Federation of Independent Business’ Small Business Optimism Index for April on Tuesday and the University of Michigan’s Consumer Sentiment Index for May on Friday.Federal Reserve Bank of New York President John Williams delivers a keynote address on U.S. monetary policy at a symposium hosted by the National Association for Business Economics and Deutsche Bundesbank, kicking off a full week for central bank speakers. Markets will be looking for more context and clarity on policy a week after the Fed executed its biggest interest-rate increase since 2000.Monday 5/9BioNTech, Duke Energy,Exelon,International Flavors & Fragrances,Microchip Technology,Palantir Technologies, Simon Property Group, Tyson Foods, and Viatris report quarterly results.Tuesday 5/10Dentsply Sirona,Electronic Arts, Norwegian Cruise Line Holdings, Occidental Petroleum, Sysco,TransDigm Group,Welltower, and Wynn Resorts announce earnings.Dish Network, Fortinet, Mondelez International, and Western Digital hold investor meetings.The National Federation of Independent Business releases its Small Business Optimism Index for April. Consensus estimate is for a 92.4 reading, about one point less than in March. The March figure is the lowest for the index since April of 2020, as a labor shortage and surging inflation have dampened small-business owners’ enthusiasm.Wednesday 5/11Walt Disney reports second-quarter fiscal-2022 results. Shares of the entertainment behemoth have been the worst performer in the DJIA over the past year over concerns about spending on content.Rivian Automotive, Steris, and Toyota Motor release quarterly results.The Bureau of Labor Statistics releases the consumer price index for April. Expectations are for a 8.1% year-over-year reading, while the core CPI, which excludes volatile food and energy prices, is seen jumping 5.9%. This compares with increases of 8.5% and 6.5% respectively, in March. Wall Street is hoping for confirmation that inflation has peaked, even as economists and the Federal Reserve expect inflation to remain much higher for far longer than they did just six months ago.Thursday 5/12Brookfield Asset Management, Constellation Energy,Motorola Solutions,and Tapestry hold conference calls to discuss earnings.Micron Technology and WestRock hold their 2022 investor days.Ford Motor,Intel,and Verizon Communicationshost their annual shareholder meetings.The BLS releases the producer price index for April. Consensus estimate is for a 10.6% year-over-year rise, compared with a 11.2% jump in March, which is the highest on record for index since the 12-month data were first calculated in late 2010. The core PPI is expected to increase 8.9%, after a 9.2% gain in March.The Department of Labor reports initial jobless claims for the week ending on May 7. In April, jobless claims averaged just 184,000. They recently hit a more-than-five-decade low, despite a workforce that is more than twice as large now as it was then.Friday 5/13The University of Michigan releases its Consumer Sentiment Index for May. Economists forecast a 63.1 reading, about two point less than in April.","news_type":1,"symbols_score_info":{"DIS":0.9,".DJI":0.9,".SPX":0.9,"OXY":0.9,".IXIC":0.9,"TM":0.9,"RIVN":0.9,"BNTX":0.9,"EA":0.9,"PLTR":0.9,"U":0.9,"NCLH":0.9}},"isVote":1,"tweetType":1,"viewCount":999,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9063409412,"gmtCreate":1651502244629,"gmtModify":1676534917086,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576803992145384","idStr":"3576803992145384"},"themes":[],"htmlText":"ji","listText":"ji","text":"ji","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9063409412","repostId":"2232733784","repostType":4,"repost":{"id":"2232733784","kind":"highlight","weMediaInfo":{"introduction":"经济-金融-投资","home_visible":1,"media_name":"李迅雷金融与投资","id":"71","head_image":"https://static.tigerbbs.com/cb163b204aa14697bd7477df15b8b6b1"},"pubTimestamp":1651449428,"share":"https://ttm.financial/m/news/2232733784?lang=en_US&edition=fundamental","pubTime":"2022-05-02 07:57","market":"us","language":"zh","title":"What need to be worried about shrinking balance sheet?","url":"https://stock-news.laohu8.com/highlight/detail?id=2232733784","media":"李迅雷金融与投资","summary":"5月美联储议息会议召开在即，除去加息之外，很可能会公布关于美联储缩表的路径、方式等细节内容。那么，在疫情后时代的环境之下，美联储本轮缩表与上轮有何不同？又会怎样影响经济和资本市场？本报告对此进行展开分","content":"<p><html><head></head><body><b>The Federal Reserve's interest rate meeting in May is about to be held. In addition to rate hike, it is likely that details such as the path and method of the Federal Reserve's shrinking balance sheet will be announced. So, in the environment of the post-epidemic era, how is this round of Fed shrinking balance sheet different from the previous round? How will it affect the economy and capital markets? This report analyzes this.</b><b>summary</b></p><p><ul><li><b>What's different about shrinking balance sheet this time? First</b>From the perspective of the causes of monetary tightening, this round of rate hike's shrinking balance sheet is mainly driven by inflation.<b>Next</b>From the perspective of global monetary policy trends, before the last round of shrinking balance sheet, except for a few emerging market rate hike, the world's major economies did not see significant tightening. Before this round of shrinking balance sheet, most central banks around the world accelerated their monetary tightening process.<b>Third</b>From the perspective of the coordination of the two monetary policy tightening methods in rate hike and shrinking balance sheet, the synergy between the two in shrinking balance sheet is higher this time.<b>Fourth</b>From the perspective of implementation, this round of shrinking balance sheet is mainly passive, but it may actively sell some unexpired MBS.<b>Fifth</b>Judging from the speed of shrinking balance sheet, the pace of this round of advancement has obviously accelerated, and the interval between rate hike and shrinking balance sheet may drop from 22 months in the previous round to 2 months.<b>Sixth</b>From the perspective of intensity, the proportion of the target scale of this reduction in GDP has increased significantly compared with the previous round.<b>Seventh</b>From the perspective of preventing and responding to the impact of the shrinking balance sheet, this time the Federal Reserve has set up a standing repurchase facility tool in advance to ensure sufficient market liquidity as much as possible.<b>in the end</b>From the perspective of the total scale of shrinking balance sheet, we estimate that this round of shrinking balance sheet will reach approximately 1.63 trillion yuan, far exceeding the previous round, and will last for approximately 18 months until the end of 2023.</p><p></li></ul><ul><li><b>How does shrinking balance sheet affect the liquidity environment?</b>There are three major transmission paths for the impact of the Federal Reserve's shrinking balance sheet on interest rates.<b>On the one hand</b>, by<b>Reduce the scale of reserves on the liability side</b>Reduce the money supply (quantity).<b>On the other hand</b>, by<b>Release policy signals and rebalance asset portfolios</b>The way to push up interest rates (prices). Shrinking balance sheet will also push up short-term interest rates to a certain extent, while the effect on long-term interest rates is more obvious. We predict that this round of shrinking balance sheet will push up the yield of ten-year U.S. Treasury Bond by about 0.4 percentage points every year. although<b>Shrinking balance sheet will significantly reduce liquidity levels, but the liquidity crisis may not reappear in the short term</b>。<b>On the one hand</b>, the existing liquidity of the market is relatively high.<b>On the other hand</b>, the Fed's establishment of new tools will effectively smooth market liquidity fluctuations. However, in this shrinking balance sheet cycle, there is a high probability that the Federal Reserve will actively sell its institutional MBS holdings, or further push up mortgage interest rates.</p><p></li></ul><ul><li><b>Global asset changes under the shrinking balance sheet</b>。<b>The last round of shrinking balance sheet had a greater impact on emerging markets, while the internal performance of developed economies was somewhat divergent</b>。 From the perspective of the industry performance of U.S. stocks, information technology has increased significantly, and the consumption sector has been significantly differentiated. Optional consumption is better than mandatory consumption. However, the performance of real estate, mandatory consumption and public utilities sectors has gradually improved with the advancement of the Federal Reserve's shrinking balance sheet. In terms of global stock indexes, U.S. stocks stood out during the last shrinking balance sheet, while most other markets declined.<b>Risks in emerging markets have been released</b>。 However, during this round of QE, the performance of emerging markets was actually inferior to that of developed markets. Considering that funds from emerging markets have flowed out this year, the stock index has been adjusted back, and risks have been released to some extent. As of the end of 2021, emerging market capital inflows will be approximately US $570 billion, less than half of the last round of QE. Most emerging market economies have already undertaken precautionary rate hike and therefore<b>The scale of further capital outflows may be relatively limited</b>。 Judging from historical experience, during the last round of Fed shrinking balance sheet,<b>The interest rate differential between China and the United States narrowed first and then widened due to monetary policy misalignment</b>, the current inversion of interest rate differentials between China and the United States has already appeared. We believe that domestic<b>RRR cut and interest rate cut</b>Represented by<b>Monetary policy easing space is restricted</b>，<b>Domestic bond market yield levels are easy to rise but difficult to fall</b>。 In terms of exchange rate, the U.S. dollar remains strong, which may give the rest of the world<b>Major currencies</b>Bring a certain<b>Devaluation pressure</b>。 At present, the upward trend in energy prices mainly comes from<b>Supply shock</b>, is likely to be difficult to be suppressed by the higher US dollar, globally priced commodities, especially<b>The price of industrial products subject to supply constraints may remain high.</b></p><p></li></ul><b>1. What's different about shrinking balance sheet this time?</b></p><p>After several rounds of QE, the Federal Reserve officially announced a shrinking balance sheet in 2017 until the end of 2019. Although it is one of the few shrinking balance sheet periods for reference, this round of shrinking balance sheet is likely to be quite different from the previous round.</p><p><b>Inflation triggers monetary tightening.</b>First of all, from the perspective of the causes of monetary policy tightening, this round of rate hike's shrinking balance sheet is mainly driven by inflation. Before the last round of shrinking balance sheet, the U.S. economy had entered the recovery channel, the manufacturing PMI was stable above the boom-bust line, the unemployment rate also hit a new low, the job market was generally good, and the inflation level had been fluctuating around 2%. Although the job market has also improved in this round, since mid-2021, U.S. inflation has continued to be high and gradually rising, setting a new high since the period of great stagflation, and there are no signs of peaking and falling.</p><p><img src=\"https://static.tigerbbs.com/7576a05bc1a949508d2d4248ed308199\" tg-width=\"1029\" tg-height=\"612\" referrerpolicy=\"no-referrer\"/></p><p><b>Rate hike rushed to prevent problems before they happen.</b>Secondly, from the perspective of global monetary policy trends, before the last round of shrinking balance sheet, except for a few emerging market rate hike, the world's major economies did not see significant tightening. In the second half of 2021, as expectations for the Federal Reserve's monetary tightening rise, emerging economies such as Russia and Brazil have successively adopted preventive rate hike to prevent the risk of exchange rate depreciation and capital outflow. Since the beginning of this year, the Russia-Ukraine crisis has pushed energy prices high. In order to curb inflation,<b>Most central banks around the world have accelerated monetary tightening</b>。 Many emerging market economies have a single rate hike of at least 50 basis points, and developed economies such as New Zealand, Canada, and Korea have also entered the rate hike queue. The world has ushered in a new wave of rate hike.</p><p><img src=\"https://static.tigerbbs.com/d3afd5e4e00c4fa8a1fc0f261bafc20c\" tg-width=\"985\" tg-height=\"871\" referrerpolicy=\"no-referrer\"/></p><p><b>Shrinking balance sheet and rate hike work closely together.</b>Third, from the perspective of the coordination of the two monetary policy tightening methods in rate hike and shrinking balance sheet. Several rounds of quantitative easing made the size of the Fed's balance sheet nearly four times larger than before the financial crisis on the eve of the last round of shrinking balance sheet. Excessive reserves made the Fed try to reduce the total<b>Normalization of asset size</b>。 At the same time, due to previous continuous rate hike, the US Dollar Index remained high and inflation hovered at a low level. At that time, in a sense, shrinking balance sheet was actually used as an alternative to rate hike, which made the tightening method<b>More flexible</b>Relatively speaking, the impact on exchange rate and inflation is more moderate than that of rate hike. On the other hand, the main purpose of this round of shrinking balance sheet is to cooperate with rate hike's approach.<b>Accelerate the curbing of inflation</b>, reducing the balance sheet and reserve size to recover excess liquidity, especially<b>Push up long-term interest rates and expand term spreads, creating conditions for continued rate hike</b>。</p><p><img src=\"https://static.tigerbbs.com/73a89f02a52041679744bd5a198e62a4\" tg-width=\"1014\" tg-height=\"613\" referrerpolicy=\"no-referrer\"/></p><p><b>Passive shrinking balance sheet is the main one, and some are actively sold.</b>Fourthly, from the perspective of the implementation of the shrinking balance sheet, the last round of shrinking balance sheet was mainly a passive shrinking balance sheet by reducing the reinvestment of maturing funds, but did not take the form of active shrinking balance sheet (selling unexpired holdings in the market). securities). However, according to the minutes of the Federal Reserve interest rate meeting in March,<b>This round of shrinking balance sheet is mainly passive, but it may actively sell unexpired MBS.</b>On the one hand, officials attending the March interest rate meeting believed that the early repayment of MBS principal may be lower than the monthly ceiling of shrinking balance sheet. Research by the New York Fed and Richmond Fed estimates that the average monthly size of MBS prepayment is about 24-25 billion, which is lower than the upper limit of MBS reduction. On the other hand, the Fed expects that its future holdings portfolio should be mainly composed of Treasury Bond, and it is appropriate to consider actively selling MBS.</p><p><img src=\"https://static.tigerbbs.com/dc95bfdf73c74954b55706a9dcfc835e\" tg-width=\"1042\" tg-height=\"627\" referrerpolicy=\"no-referrer\"/></p><p><b>The speed of shrinking balance sheet has obviously accelerated.</b>Fifth, from the perspective of shrinking balance sheet's speed. The Federal Reserve has been in rate hike four times, and it took 22 months to officially launch the last round of shrinking balance sheet. In the first month, the reduction targets were set at 6 billion U.S. Treasury Bond and 4 billion MBS, and the quota was increased by 6 billion and 4 billion respectively every three months, which took one year to reach the monthly reduction ceiling of 30 billion U.S. debt and 20 billion MBS. After seven months, the Federal Reserve began to lower the shrinking balance sheet ceiling, lowering the Treasury Bond and MBS ceilings to 15 billion and 20 billion respectively for the first time, and then lowering the two ceilings to zero three months later. From the time point of view of this round of shrinking balance sheet, the Fed's pace of advancement has obviously accelerated. The time interval between rate hike and shrinking balance sheet may drop to 2 months, and it may reach 60 billion U.S. debt and 35 billion U.S. debt per month as soon as 3 months after shrinking balance sheet. The reduction ceiling of billion MBS.</p><p><img src=\"https://static.tigerbbs.com/eeacdf4a12cb48feab3e4da6108ca8ea\" tg-width=\"1021\" tg-height=\"608\" referrerpolicy=\"no-referrer\"/></p><p><b>The intensity of shrinking balance sheet has increased.</b>Sixth, from the perspective of the intensity of shrinking balance sheet. During the last shrinking balance sheet, the Fed's target reduction accounted for about 1.3% of the Fed's total assets and about 0.24% of GDP. Although the upper limit of this reduction has been raised to US $95 billion and the reduction speed has increased significantly, since the Federal Reserve has reached the highest total assets in history, the proportion of the target reduction scale to the total assets of the Federal Reserve has not changed significantly, about 1.1%, while the target reduction scale The proportion of GDP is about 0.41%, which is significantly higher than the previous round.</p><p><img src=\"https://static.tigerbbs.com/560e37ba85754134b4140c53a89691a0\" tg-width=\"1040\" tg-height=\"627\" referrerpolicy=\"no-referrer\"/></p><p><b>The impact of shrinking balance sheet should be responded in advance.</b>Seventh, from the perspective of prevention and response to the impact of shrinking balance sheet. The liquidity crisis is the main reason why the Federal Reserve terminated the last round of shrinking balance sheet. After the financial crisis, in order to enhance the banking system's ability to resist liquidity risks, the Federal Reserve raised its requirements for liquid assets in terms of supervision. In September 2019, due to the superposition of the triple factors of shrinking balance sheet, tax payment and Treasury Bond subscription payment, the overnight lending rate once soared to 10%, and Federal Funds rate once broke through the target upper limit and rose to 2.3%, forcing the New York Fed to intervene for the first time in nearly ten years. overnight repo market,<b>Liquidity Shortfall Finally Leads Fed Out of shrinking balance sheet</b>。 This time, the Federal Reserve fully absorbed the liquidity problems exposed in the last round of shrinking balance sheet, and set up standing repurchase facilities in advance to ensure sufficient market liquidity as much as possible.</p><p><img src=\"https://static.tigerbbs.com/28895693a9c642b884a4f059e48857c4\" tg-width=\"1023\" tg-height=\"609\" referrerpolicy=\"no-referrer\"/></p><p><b>The scale of shrinking balance sheet far exceeds that of the last round.</b>Finally, from the perspective of the total size of shrinking balance sheet. During the entire shrinking balance sheet cycle from 2017 to 2019, the Fed's target reduction was US $755 billion, which actually reduced its total assets by about US $650 billion, accounting for 15% of the total assets of the Fed before shrinking balance sheet and about 3% of the GDP of that year. Considering the current sufficient reserves and relatively loose liquidity, this rate hike process will not repeat the same mistakes. However, if the inflation momentum is curbed in the future, the shrinking balance sheet process in rate hike may not rule out an early end. Referring to the experience of the last round of shrinking balance sheet and the recent speeches of Fed officials, when the reserve scale accounts for 8% of nominal GDP, market liquidity is more appropriate. If the IMF predicts that the nominal GDP of the United States in 2023 will be 26.7 trillion US dollars, the desired reserve size will be approximately 2.14 trillion US dollars. It is roughly estimated that the current round of shrinking balance sheet will be 1.63 trillion US dollars, accounting for 18.2% of the existing total assets. The shrinking balance sheet will last for about 18 months until the end of 2023.</p><p><img src=\"https://static.tigerbbs.com/015d51beb2ab46118d5e35bb5a5d0535\" tg-width=\"1014\" tg-height=\"612\" referrerpolicy=\"no-referrer\"/></p><p><b>2. How does the shrinking balance sheet affect the liquidity environment?</b></p><p><b>There are three major transmission paths for the impact of the Federal Reserve's shrinking balance sheet on interest rates.</b>The expansion of the Fed's balance sheet is to continue to stimulate the economy by continuing to purchase medium and long-term Treasury Bond, release liquidity, flatten the yield curve, and reduce the long-term interest rate level when the short-term interest rate cannot break through the constraint of the lower limit of 0 interest rate. means. And<b>Shrinking balance sheet is essentially a reverse operation of balance sheet expansion. On the one hand</b>, reduce the money supply (quantity) by reducing the scale of reserves on the liability side.<b>On the other hand</b>, pushing up interest rates (prices) by releasing policy signals and rebalancing asset portfolios.</p><p><img src=\"https://static.tigerbbs.com/f3cbd4846cec482586a5a0e39c382859\" tg-width=\"1046\" tg-height=\"864\" referrerpolicy=\"no-referrer\"/></p><p><b>Short-term interest rates will also rise.</b>Rate hike mainly curbs money demand by increasing capital borrowing costs, while shrinking balance sheet directly pushes up short-term interest rates by affecting money supply. If we exclude the impact of rate hike on short-term interest rates, shrinking balance sheet actually has a certain contribution to the rise of short-term interest rates. Judging from the last round of shrinking balance sheet, the difference between the short-term Treasury Bond yield and the benchmark interest rate target changed significantly before and after the Fed's shrinking balance sheet, and increased by about 0.2 percentage points after the shrinking balance sheet.</p><p><img src=\"https://static.tigerbbs.com/72012418d8eb40b08be2fba8a69e4ab9\" tg-width=\"1017\" tg-height=\"609\" referrerpolicy=\"no-referrer\"/></p><p><b>Long-term interest rates pushed up significantly.</b>The Fed's shrinking balance sheet mainly affects long-term interest rates through signals and portfolio rebalancing.<b>On the one hand</b>, the Federal Reserve released a balance sheet normalization signal, provided forward-looking guidance, changed yield curve expectations, and guided long-term interest rates upward.<b>On the other hand</b>, the Federal Reserve's holdings of long-term assets gradually declined, and the supply of long-term assets in the market increased, thus pushing up long-term interest rates. According to the research of Bauer and Neely (2012), a change in the Fed's balance sheet of 1% of GDP will bring about a change of about 8bp in the 10-year Treasury Bond yield. If shrinking balance sheet's maximum scale of 95 billion US dollars is followed, it is expected to push up the 10-year Treasury Bond yield by about 3.3 bp every month, with an annual impact of about 0.4 percentage points.</p><p><img src=\"https://static.tigerbbs.com/2c641c1f98db4e30b518044ee16e8a80\" tg-width=\"1011\" tg-height=\"606\" referrerpolicy=\"no-referrer\"/></p><p><b>The Fed's shrinking balance sheet will significantly reduce liquidity levels.</b>The shrinking balance sheet of the Federal Reserve will reduce the scale of assets and liabilities at the same time. During the last round of Fed QE, the scale of reserves rose sharply to US $2.5 trillion and remained near this level for a long time. After the last round of shrinking balance sheet began, the scale of reserves dropped sharply to about US $1.5 trillion, and the scale of overnight reverse repurchases also dropped from US $200 billion to 0.</p><p><img src=\"https://static.tigerbbs.com/0824d93953e841968a3d250d0e23a38f\" tg-width=\"1020\" tg-height=\"611\" referrerpolicy=\"no-referrer\"/></p><p><b>The liquidity crisis may not reappear in the short term.</b>However, we believe that the risk of liquidity crisis in this round of shrinking balance sheet is not high.<b>On the one hand</b>, the existing liquidity in the market is relatively high, the reserve scale remains at a level of around 4 trillion, and the overnight reverse repurchase scale also remains at a high level of 1.6 trillion, much higher than the monthly shrinking balance sheet scale of 95 billion US dollars.<b>On the other hand</b>, the Federal Reserve will set up domestic and foreign repurchase facilities as standing standards in 2021 to provide liquidity to the market in a timely manner. The new tool will effectively smooth market liquidity fluctuations.</p><p><img src=\"https://static.tigerbbs.com/ef8931ddcdc54ed58a54093ca5ab1815\" tg-width=\"1017\" tg-height=\"608\" referrerpolicy=\"no-referrer\"/></p><p><b>Actively selling MBS may push up mortgage interest rates.</b>As the Federal Reserve accelerates the tightening of monetary policy, the yields of Treasury Bond of all maturities in the United States have risen, driving the 30-year fixed mortgage rate to rise above 5%, a new high since 2011. Judging from historical data, rising mortgage interest rates will increase residents' house purchase costs, curb purchase demand, and put pressure on the real estate market. In this shrinking balance sheet cycle, there is a high probability that the Federal Reserve will actively sell its institutional MBS holdings, or further push up mortgage interest rates.</p><p><img src=\"https://static.tigerbbs.com/b99c41fbe3b84095879c0adc27ed6667\" tg-width=\"1022\" tg-height=\"608\" referrerpolicy=\"no-referrer\"/></p><p><b>3. Global asset changes under the shrinking balance sheet</b></p><p><b>The last round of shrinking balance sheet hit emerging markets.</b>How will the Federal Reserve's shrinking balance sheet affect the performance of major asset classes? We might as well look for clues from the last round of shrinking balance sheet. We divided the last round of Fed shrinking balance sheet process into three stages: from the beginning of the shrinking balance sheet to half a year, reaching the reduction ceiling (one year), and the entire shrinking balance sheet period (about two years), and calculated the income performance of various assets separately. We found that,<b>Last time, shrinking balance sheet had a greater impact on emerging markets, while there was a relatively obvious differentiation within developed economies.</b>With the progress of the Federal Reserve's shrinking balance sheet, the prices of commodities with higher demand in emerging markets have dropped significantly, and the emerging market index has gradually adjusted. However, crude oil and stock indexes with higher demand in developed economies have performed relatively well.</p><p><img src=\"https://static.tigerbbs.com/6b8da395bcf04d8792a296aa315b603b\" tg-width=\"1019\" tg-height=\"608\" referrerpolicy=\"no-referrer\"/></p><p><b>From the perspective of industry performance, information technology has increased significantly, and optional consumption is better than mandatory consumption.</b>Overall, the impact of the last round of shrinking balance sheet by the Federal Reserve on the performance of various industries in the U.S. stock market is the most prominent in the information technology industry. However, there is a significant differentiation in the consumption sector. Optional consumption is among the best, but mandatory consumption is relatively backward. However, with the advancement of the Fed's shrinking balance sheet process, the performance of real estate, required consumption and public utilities has gradually improved.</p><p><img src=\"https://static.tigerbbs.com/50cf9c0220f14fd1a04ee998d7329dcd\" tg-width=\"1019\" tg-height=\"655\" referrerpolicy=\"no-referrer\"/></p><p><b>U.S. stocks stood out, while most other markets declined.</b>The stock markets of major global markets showed a volatile trend during the last round of Fed shrinking balance sheet, but the trends were quite different. Among them, developed markets and emerging markets except the United States have been harder impacted by shrinking balance sheet, showing a volatile downward trend. U.S. stocks kept rising and hit new highs for a year after the Federal Reserve's shrinking balance sheet began. All market stock indexes experienced a short-term pullback/retracement from September 2018 to February 2019, and then the trend continued to diverge.</p><p><img src=\"https://static.tigerbbs.com/8fee8a5cf5d1402d914544119d798119\" tg-width=\"1015\" tg-height=\"610\" referrerpolicy=\"no-referrer\"/></p><p><b>Risks in emerging markets have been released.</b>During the last round of Fed balance sheet expansion, funds flowed to emerging markets in large quantities, pushing up the stock index performance of emerging markets. Until 2013, when the Fed began to gradually tighten monetary policy, global funds flowed back, and the market performance of developed economies was better than that of emerging markets. Well, when the Fed started a shrinking balance sheet, funds from emerging markets flowed out further. However, during this round of QE, the performance of emerging markets was actually inferior to that of developed markets. Although the pace of monetary tightening this time is fast, and rate hike's shrinking balance sheet almost completely overlap, considering that funds from emerging markets have flowed out this year, the stock index has been adjusted back, and risks have been released to some extent.</p><p><img src=\"https://static.tigerbbs.com/0387aaac6d684000a293b8abfe31ae00\" tg-width=\"1018\" tg-height=\"608\" referrerpolicy=\"no-referrer\"/></p><p><b>The scale of capital inflows is less than half of the previous round.</b>During the last round of Fed QE, the net inflow of stock and bond funds in emerging markets was approximately US $1.3 trillion, accounting for nearly 60% of the changes in the Fed's balance sheet. During this round of QE, as of the end of 2021, the net inflow of stock and bond funds in emerging markets was about US $570 billion, less than half of the previous round, and only accounted for about 13% of the changes in the Fed's balance sheet. Furthermore,<b>Most emerging market economies have already undertaken precautionary rate hike, so the scale of further capital outflows may be relatively limited</b>。</p><p><img src=\"https://static.tigerbbs.com/6ea99419ab1a44a0bc507c339e0f6c0d\" tg-width=\"1042\" tg-height=\"623\" referrerpolicy=\"no-referrer\"/></p><p><b>Bond market interest rates are easy to rise but difficult to fall.</b>From the perspective of historical performance, my country's Treasury Bond yields are consistent with U.S. bond yields in most cases. However, during the last round of the Federal Reserve shrinking balance sheet, the interest rate differential between the two countries narrowed as the Federal Reserve tightened the currency and the country continued to remain loose. In the late stage of the last round of Federal Reserve shrinking balance sheet, due to the liquidity crisis in the market, the Federal Reserve began to cut interest rates and stop shrinking balance sheet, driving U.S. bond yields down, and the spread between China and the United States widened again. At present, the inversion of the interest rate spread between China and the United States has already appeared. With the rise of U.S. bond yields, we believe that the easing space of domestic monetary policy represented by RRR cuts and interest rate cuts is restricted, and the domestic bond market yield level is easy to rise but difficult to fall.</p><p><img src=\"https://static.tigerbbs.com/a34509811861401da679c9d2b8fce9f6\" tg-width=\"1018\" tg-height=\"608\" referrerpolicy=\"no-referrer\"/></p><p><b>The US dollar remains strong, and the pressure of exchange rate depreciation increases.</b>The last round of shrinking balance sheet implemented by the Federal Reserve tightened the U.S. monetary policy compared with the euro zone margin, pushing the US Dollar Index upward. Overall, with the continuous shrinking balance sheet of the Federal Reserve, most currencies have depreciated compared with the US dollar, and the decline has gradually expanded. However, the Thai baht and Japanese yen performed relatively well during the last round of shrinking balance sheet. At present, the US Dollar Index has exceeded 100, and this round of shrinking balance sheet may bring certain depreciation pressure to major currencies in the world.</p><p><img src=\"https://static.tigerbbs.com/5f402c7ee3a74a64953d4aebd576d889\" tg-width=\"1014\" tg-height=\"605\" referrerpolicy=\"no-referrer\"/></p><p><b>Supply shocks dominate, and prices may remain high.</b>Energy commodities performed well in the early and mid-term of the last round of Fed shrinking balance sheet, while non-ferrous metals except nickel performed poorly. During the entire shrinking balance sheet of the last round of the Federal Reserve, precious metals first fell and then rose.<a href=\"https://laohu8.com/S/000061\">Agricultural products</a>Among them, the trends of corn and soybeans are somewhat divergent. At present, the upward trend in energy prices mainly comes from supply shocks, which are likely to be difficult to suppress by the rise of the US dollar. The prices of globally priced commodities, especially industrial products subject to supply constraints, may remain high.</p><p><img src=\"https://static.tigerbbs.com/873be73c90154fa3aeebabbfb73560e6\" tg-width=\"1048\" tg-height=\"625\" referrerpolicy=\"no-referrer\"/></p><p><b>Risk warning: policy changes, economic recovery is less than expected.</b></p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What need to be worried about shrinking balance sheet?</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 need to be worried about shrinking balance sheet?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/71\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/cb163b204aa14697bd7477df15b8b6b1);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">李迅雷金融与投资 </p>\n<p class=\"h-time smaller\">2022-05-02 07:57</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>The Federal Reserve's interest rate meeting in May is about to be held. In addition to rate hike, it is likely that details such as the path and method of the Federal Reserve's shrinking balance sheet will be announced. So, in the environment of the post-epidemic era, how is this round of Fed shrinking balance sheet different from the previous round? How will it affect the economy and capital markets? This report analyzes this.</b><b>summary</b></p><p><ul><li><b>What's different about shrinking balance sheet this time? First</b>From the perspective of the causes of monetary tightening, this round of rate hike's shrinking balance sheet is mainly driven by inflation.<b>Next</b>From the perspective of global monetary policy trends, before the last round of shrinking balance sheet, except for a few emerging market rate hike, the world's major economies did not see significant tightening. Before this round of shrinking balance sheet, most central banks around the world accelerated their monetary tightening process.<b>Third</b>From the perspective of the coordination of the two monetary policy tightening methods in rate hike and shrinking balance sheet, the synergy between the two in shrinking balance sheet is higher this time.<b>Fourth</b>From the perspective of implementation, this round of shrinking balance sheet is mainly passive, but it may actively sell some unexpired MBS.<b>Fifth</b>Judging from the speed of shrinking balance sheet, the pace of this round of advancement has obviously accelerated, and the interval between rate hike and shrinking balance sheet may drop from 22 months in the previous round to 2 months.<b>Sixth</b>From the perspective of intensity, the proportion of the target scale of this reduction in GDP has increased significantly compared with the previous round.<b>Seventh</b>From the perspective of preventing and responding to the impact of the shrinking balance sheet, this time the Federal Reserve has set up a standing repurchase facility tool in advance to ensure sufficient market liquidity as much as possible.<b>in the end</b>From the perspective of the total scale of shrinking balance sheet, we estimate that this round of shrinking balance sheet will reach approximately 1.63 trillion yuan, far exceeding the previous round, and will last for approximately 18 months until the end of 2023.</p><p></li></ul><ul><li><b>How does shrinking balance sheet affect the liquidity environment?</b>There are three major transmission paths for the impact of the Federal Reserve's shrinking balance sheet on interest rates.<b>On the one hand</b>, by<b>Reduce the scale of reserves on the liability side</b>Reduce the money supply (quantity).<b>On the other hand</b>, by<b>Release policy signals and rebalance asset portfolios</b>The way to push up interest rates (prices). Shrinking balance sheet will also push up short-term interest rates to a certain extent, while the effect on long-term interest rates is more obvious. We predict that this round of shrinking balance sheet will push up the yield of ten-year U.S. Treasury Bond by about 0.4 percentage points every year. although<b>Shrinking balance sheet will significantly reduce liquidity levels, but the liquidity crisis may not reappear in the short term</b>。<b>On the one hand</b>, the existing liquidity of the market is relatively high.<b>On the other hand</b>, the Fed's establishment of new tools will effectively smooth market liquidity fluctuations. However, in this shrinking balance sheet cycle, there is a high probability that the Federal Reserve will actively sell its institutional MBS holdings, or further push up mortgage interest rates.</p><p></li></ul><ul><li><b>Global asset changes under the shrinking balance sheet</b>。<b>The last round of shrinking balance sheet had a greater impact on emerging markets, while the internal performance of developed economies was somewhat divergent</b>。 From the perspective of the industry performance of U.S. stocks, information technology has increased significantly, and the consumption sector has been significantly differentiated. Optional consumption is better than mandatory consumption. However, the performance of real estate, mandatory consumption and public utilities sectors has gradually improved with the advancement of the Federal Reserve's shrinking balance sheet. In terms of global stock indexes, U.S. stocks stood out during the last shrinking balance sheet, while most other markets declined.<b>Risks in emerging markets have been released</b>。 However, during this round of QE, the performance of emerging markets was actually inferior to that of developed markets. Considering that funds from emerging markets have flowed out this year, the stock index has been adjusted back, and risks have been released to some extent. As of the end of 2021, emerging market capital inflows will be approximately US $570 billion, less than half of the last round of QE. Most emerging market economies have already undertaken precautionary rate hike and therefore<b>The scale of further capital outflows may be relatively limited</b>。 Judging from historical experience, during the last round of Fed shrinking balance sheet,<b>The interest rate differential between China and the United States narrowed first and then widened due to monetary policy misalignment</b>, the current inversion of interest rate differentials between China and the United States has already appeared. We believe that domestic<b>RRR cut and interest rate cut</b>Represented by<b>Monetary policy easing space is restricted</b>，<b>Domestic bond market yield levels are easy to rise but difficult to fall</b>。 In terms of exchange rate, the U.S. dollar remains strong, which may give the rest of the world<b>Major currencies</b>Bring a certain<b>Devaluation pressure</b>。 At present, the upward trend in energy prices mainly comes from<b>Supply shock</b>, is likely to be difficult to be suppressed by the higher US dollar, globally priced commodities, especially<b>The price of industrial products subject to supply constraints may remain high.</b></p><p></li></ul><b>1. What's different about shrinking balance sheet this time?</b></p><p>After several rounds of QE, the Federal Reserve officially announced a shrinking balance sheet in 2017 until the end of 2019. Although it is one of the few shrinking balance sheet periods for reference, this round of shrinking balance sheet is likely to be quite different from the previous round.</p><p><b>Inflation triggers monetary tightening.</b>First of all, from the perspective of the causes of monetary policy tightening, this round of rate hike's shrinking balance sheet is mainly driven by inflation. Before the last round of shrinking balance sheet, the U.S. economy had entered the recovery channel, the manufacturing PMI was stable above the boom-bust line, the unemployment rate also hit a new low, the job market was generally good, and the inflation level had been fluctuating around 2%. Although the job market has also improved in this round, since mid-2021, U.S. inflation has continued to be high and gradually rising, setting a new high since the period of great stagflation, and there are no signs of peaking and falling.</p><p><img src=\"https://static.tigerbbs.com/7576a05bc1a949508d2d4248ed308199\" tg-width=\"1029\" tg-height=\"612\" referrerpolicy=\"no-referrer\"/></p><p><b>Rate hike rushed to prevent problems before they happen.</b>Secondly, from the perspective of global monetary policy trends, before the last round of shrinking balance sheet, except for a few emerging market rate hike, the world's major economies did not see significant tightening. In the second half of 2021, as expectations for the Federal Reserve's monetary tightening rise, emerging economies such as Russia and Brazil have successively adopted preventive rate hike to prevent the risk of exchange rate depreciation and capital outflow. Since the beginning of this year, the Russia-Ukraine crisis has pushed energy prices high. In order to curb inflation,<b>Most central banks around the world have accelerated monetary tightening</b>。 Many emerging market economies have a single rate hike of at least 50 basis points, and developed economies such as New Zealand, Canada, and Korea have also entered the rate hike queue. The world has ushered in a new wave of rate hike.</p><p><img src=\"https://static.tigerbbs.com/d3afd5e4e00c4fa8a1fc0f261bafc20c\" tg-width=\"985\" tg-height=\"871\" referrerpolicy=\"no-referrer\"/></p><p><b>Shrinking balance sheet and rate hike work closely together.</b>Third, from the perspective of the coordination of the two monetary policy tightening methods in rate hike and shrinking balance sheet. Several rounds of quantitative easing made the size of the Fed's balance sheet nearly four times larger than before the financial crisis on the eve of the last round of shrinking balance sheet. Excessive reserves made the Fed try to reduce the total<b>Normalization of asset size</b>。 At the same time, due to previous continuous rate hike, the US Dollar Index remained high and inflation hovered at a low level. At that time, in a sense, shrinking balance sheet was actually used as an alternative to rate hike, which made the tightening method<b>More flexible</b>Relatively speaking, the impact on exchange rate and inflation is more moderate than that of rate hike. On the other hand, the main purpose of this round of shrinking balance sheet is to cooperate with rate hike's approach.<b>Accelerate the curbing of inflation</b>, reducing the balance sheet and reserve size to recover excess liquidity, especially<b>Push up long-term interest rates and expand term spreads, creating conditions for continued rate hike</b>。</p><p><img src=\"https://static.tigerbbs.com/73a89f02a52041679744bd5a198e62a4\" tg-width=\"1014\" tg-height=\"613\" referrerpolicy=\"no-referrer\"/></p><p><b>Passive shrinking balance sheet is the main one, and some are actively sold.</b>Fourthly, from the perspective of the implementation of the shrinking balance sheet, the last round of shrinking balance sheet was mainly a passive shrinking balance sheet by reducing the reinvestment of maturing funds, but did not take the form of active shrinking balance sheet (selling unexpired holdings in the market). securities). However, according to the minutes of the Federal Reserve interest rate meeting in March,<b>This round of shrinking balance sheet is mainly passive, but it may actively sell unexpired MBS.</b>On the one hand, officials attending the March interest rate meeting believed that the early repayment of MBS principal may be lower than the monthly ceiling of shrinking balance sheet. Research by the New York Fed and Richmond Fed estimates that the average monthly size of MBS prepayment is about 24-25 billion, which is lower than the upper limit of MBS reduction. On the other hand, the Fed expects that its future holdings portfolio should be mainly composed of Treasury Bond, and it is appropriate to consider actively selling MBS.</p><p><img src=\"https://static.tigerbbs.com/dc95bfdf73c74954b55706a9dcfc835e\" tg-width=\"1042\" tg-height=\"627\" referrerpolicy=\"no-referrer\"/></p><p><b>The speed of shrinking balance sheet has obviously accelerated.</b>Fifth, from the perspective of shrinking balance sheet's speed. The Federal Reserve has been in rate hike four times, and it took 22 months to officially launch the last round of shrinking balance sheet. In the first month, the reduction targets were set at 6 billion U.S. Treasury Bond and 4 billion MBS, and the quota was increased by 6 billion and 4 billion respectively every three months, which took one year to reach the monthly reduction ceiling of 30 billion U.S. debt and 20 billion MBS. After seven months, the Federal Reserve began to lower the shrinking balance sheet ceiling, lowering the Treasury Bond and MBS ceilings to 15 billion and 20 billion respectively for the first time, and then lowering the two ceilings to zero three months later. From the time point of view of this round of shrinking balance sheet, the Fed's pace of advancement has obviously accelerated. The time interval between rate hike and shrinking balance sheet may drop to 2 months, and it may reach 60 billion U.S. debt and 35 billion U.S. debt per month as soon as 3 months after shrinking balance sheet. The reduction ceiling of billion MBS.</p><p><img src=\"https://static.tigerbbs.com/eeacdf4a12cb48feab3e4da6108ca8ea\" tg-width=\"1021\" tg-height=\"608\" referrerpolicy=\"no-referrer\"/></p><p><b>The intensity of shrinking balance sheet has increased.</b>Sixth, from the perspective of the intensity of shrinking balance sheet. During the last shrinking balance sheet, the Fed's target reduction accounted for about 1.3% of the Fed's total assets and about 0.24% of GDP. Although the upper limit of this reduction has been raised to US $95 billion and the reduction speed has increased significantly, since the Federal Reserve has reached the highest total assets in history, the proportion of the target reduction scale to the total assets of the Federal Reserve has not changed significantly, about 1.1%, while the target reduction scale The proportion of GDP is about 0.41%, which is significantly higher than the previous round.</p><p><img src=\"https://static.tigerbbs.com/560e37ba85754134b4140c53a89691a0\" tg-width=\"1040\" tg-height=\"627\" referrerpolicy=\"no-referrer\"/></p><p><b>The impact of shrinking balance sheet should be responded in advance.</b>Seventh, from the perspective of prevention and response to the impact of shrinking balance sheet. The liquidity crisis is the main reason why the Federal Reserve terminated the last round of shrinking balance sheet. After the financial crisis, in order to enhance the banking system's ability to resist liquidity risks, the Federal Reserve raised its requirements for liquid assets in terms of supervision. In September 2019, due to the superposition of the triple factors of shrinking balance sheet, tax payment and Treasury Bond subscription payment, the overnight lending rate once soared to 10%, and Federal Funds rate once broke through the target upper limit and rose to 2.3%, forcing the New York Fed to intervene for the first time in nearly ten years. overnight repo market,<b>Liquidity Shortfall Finally Leads Fed Out of shrinking balance sheet</b>。 This time, the Federal Reserve fully absorbed the liquidity problems exposed in the last round of shrinking balance sheet, and set up standing repurchase facilities in advance to ensure sufficient market liquidity as much as possible.</p><p><img src=\"https://static.tigerbbs.com/28895693a9c642b884a4f059e48857c4\" tg-width=\"1023\" tg-height=\"609\" referrerpolicy=\"no-referrer\"/></p><p><b>The scale of shrinking balance sheet far exceeds that of the last round.</b>Finally, from the perspective of the total size of shrinking balance sheet. During the entire shrinking balance sheet cycle from 2017 to 2019, the Fed's target reduction was US $755 billion, which actually reduced its total assets by about US $650 billion, accounting for 15% of the total assets of the Fed before shrinking balance sheet and about 3% of the GDP of that year. Considering the current sufficient reserves and relatively loose liquidity, this rate hike process will not repeat the same mistakes. However, if the inflation momentum is curbed in the future, the shrinking balance sheet process in rate hike may not rule out an early end. Referring to the experience of the last round of shrinking balance sheet and the recent speeches of Fed officials, when the reserve scale accounts for 8% of nominal GDP, market liquidity is more appropriate. If the IMF predicts that the nominal GDP of the United States in 2023 will be 26.7 trillion US dollars, the desired reserve size will be approximately 2.14 trillion US dollars. It is roughly estimated that the current round of shrinking balance sheet will be 1.63 trillion US dollars, accounting for 18.2% of the existing total assets. The shrinking balance sheet will last for about 18 months until the end of 2023.</p><p><img src=\"https://static.tigerbbs.com/015d51beb2ab46118d5e35bb5a5d0535\" tg-width=\"1014\" tg-height=\"612\" referrerpolicy=\"no-referrer\"/></p><p><b>2. How does the shrinking balance sheet affect the liquidity environment?</b></p><p><b>There are three major transmission paths for the impact of the Federal Reserve's shrinking balance sheet on interest rates.</b>The expansion of the Fed's balance sheet is to continue to stimulate the economy by continuing to purchase medium and long-term Treasury Bond, release liquidity, flatten the yield curve, and reduce the long-term interest rate level when the short-term interest rate cannot break through the constraint of the lower limit of 0 interest rate. means. And<b>Shrinking balance sheet is essentially a reverse operation of balance sheet expansion. On the one hand</b>, reduce the money supply (quantity) by reducing the scale of reserves on the liability side.<b>On the other hand</b>, pushing up interest rates (prices) by releasing policy signals and rebalancing asset portfolios.</p><p><img src=\"https://static.tigerbbs.com/f3cbd4846cec482586a5a0e39c382859\" tg-width=\"1046\" tg-height=\"864\" referrerpolicy=\"no-referrer\"/></p><p><b>Short-term interest rates will also rise.</b>Rate hike mainly curbs money demand by increasing capital borrowing costs, while shrinking balance sheet directly pushes up short-term interest rates by affecting money supply. If we exclude the impact of rate hike on short-term interest rates, shrinking balance sheet actually has a certain contribution to the rise of short-term interest rates. Judging from the last round of shrinking balance sheet, the difference between the short-term Treasury Bond yield and the benchmark interest rate target changed significantly before and after the Fed's shrinking balance sheet, and increased by about 0.2 percentage points after the shrinking balance sheet.</p><p><img src=\"https://static.tigerbbs.com/72012418d8eb40b08be2fba8a69e4ab9\" tg-width=\"1017\" tg-height=\"609\" referrerpolicy=\"no-referrer\"/></p><p><b>Long-term interest rates pushed up significantly.</b>The Fed's shrinking balance sheet mainly affects long-term interest rates through signals and portfolio rebalancing.<b>On the one hand</b>, the Federal Reserve released a balance sheet normalization signal, provided forward-looking guidance, changed yield curve expectations, and guided long-term interest rates upward.<b>On the other hand</b>, the Federal Reserve's holdings of long-term assets gradually declined, and the supply of long-term assets in the market increased, thus pushing up long-term interest rates. According to the research of Bauer and Neely (2012), a change in the Fed's balance sheet of 1% of GDP will bring about a change of about 8bp in the 10-year Treasury Bond yield. If shrinking balance sheet's maximum scale of 95 billion US dollars is followed, it is expected to push up the 10-year Treasury Bond yield by about 3.3 bp every month, with an annual impact of about 0.4 percentage points.</p><p><img src=\"https://static.tigerbbs.com/2c641c1f98db4e30b518044ee16e8a80\" tg-width=\"1011\" tg-height=\"606\" referrerpolicy=\"no-referrer\"/></p><p><b>The Fed's shrinking balance sheet will significantly reduce liquidity levels.</b>The shrinking balance sheet of the Federal Reserve will reduce the scale of assets and liabilities at the same time. During the last round of Fed QE, the scale of reserves rose sharply to US $2.5 trillion and remained near this level for a long time. After the last round of shrinking balance sheet began, the scale of reserves dropped sharply to about US $1.5 trillion, and the scale of overnight reverse repurchases also dropped from US $200 billion to 0.</p><p><img src=\"https://static.tigerbbs.com/0824d93953e841968a3d250d0e23a38f\" tg-width=\"1020\" tg-height=\"611\" referrerpolicy=\"no-referrer\"/></p><p><b>The liquidity crisis may not reappear in the short term.</b>However, we believe that the risk of liquidity crisis in this round of shrinking balance sheet is not high.<b>On the one hand</b>, the existing liquidity in the market is relatively high, the reserve scale remains at a level of around 4 trillion, and the overnight reverse repurchase scale also remains at a high level of 1.6 trillion, much higher than the monthly shrinking balance sheet scale of 95 billion US dollars.<b>On the other hand</b>, the Federal Reserve will set up domestic and foreign repurchase facilities as standing standards in 2021 to provide liquidity to the market in a timely manner. The new tool will effectively smooth market liquidity fluctuations.</p><p><img src=\"https://static.tigerbbs.com/ef8931ddcdc54ed58a54093ca5ab1815\" tg-width=\"1017\" tg-height=\"608\" referrerpolicy=\"no-referrer\"/></p><p><b>Actively selling MBS may push up mortgage interest rates.</b>As the Federal Reserve accelerates the tightening of monetary policy, the yields of Treasury Bond of all maturities in the United States have risen, driving the 30-year fixed mortgage rate to rise above 5%, a new high since 2011. Judging from historical data, rising mortgage interest rates will increase residents' house purchase costs, curb purchase demand, and put pressure on the real estate market. In this shrinking balance sheet cycle, there is a high probability that the Federal Reserve will actively sell its institutional MBS holdings, or further push up mortgage interest rates.</p><p><img src=\"https://static.tigerbbs.com/b99c41fbe3b84095879c0adc27ed6667\" tg-width=\"1022\" tg-height=\"608\" referrerpolicy=\"no-referrer\"/></p><p><b>3. Global asset changes under the shrinking balance sheet</b></p><p><b>The last round of shrinking balance sheet hit emerging markets.</b>How will the Federal Reserve's shrinking balance sheet affect the performance of major asset classes? We might as well look for clues from the last round of shrinking balance sheet. We divided the last round of Fed shrinking balance sheet process into three stages: from the beginning of the shrinking balance sheet to half a year, reaching the reduction ceiling (one year), and the entire shrinking balance sheet period (about two years), and calculated the income performance of various assets separately. We found that,<b>Last time, shrinking balance sheet had a greater impact on emerging markets, while there was a relatively obvious differentiation within developed economies.</b>With the progress of the Federal Reserve's shrinking balance sheet, the prices of commodities with higher demand in emerging markets have dropped significantly, and the emerging market index has gradually adjusted. However, crude oil and stock indexes with higher demand in developed economies have performed relatively well.</p><p><img src=\"https://static.tigerbbs.com/6b8da395bcf04d8792a296aa315b603b\" tg-width=\"1019\" tg-height=\"608\" referrerpolicy=\"no-referrer\"/></p><p><b>From the perspective of industry performance, information technology has increased significantly, and optional consumption is better than mandatory consumption.</b>Overall, the impact of the last round of shrinking balance sheet by the Federal Reserve on the performance of various industries in the U.S. stock market is the most prominent in the information technology industry. However, there is a significant differentiation in the consumption sector. Optional consumption is among the best, but mandatory consumption is relatively backward. However, with the advancement of the Fed's shrinking balance sheet process, the performance of real estate, required consumption and public utilities has gradually improved.</p><p><img src=\"https://static.tigerbbs.com/50cf9c0220f14fd1a04ee998d7329dcd\" tg-width=\"1019\" tg-height=\"655\" referrerpolicy=\"no-referrer\"/></p><p><b>U.S. stocks stood out, while most other markets declined.</b>The stock markets of major global markets showed a volatile trend during the last round of Fed shrinking balance sheet, but the trends were quite different. Among them, developed markets and emerging markets except the United States have been harder impacted by shrinking balance sheet, showing a volatile downward trend. U.S. stocks kept rising and hit new highs for a year after the Federal Reserve's shrinking balance sheet began. All market stock indexes experienced a short-term pullback/retracement from September 2018 to February 2019, and then the trend continued to diverge.</p><p><img src=\"https://static.tigerbbs.com/8fee8a5cf5d1402d914544119d798119\" tg-width=\"1015\" tg-height=\"610\" referrerpolicy=\"no-referrer\"/></p><p><b>Risks in emerging markets have been released.</b>During the last round of Fed balance sheet expansion, funds flowed to emerging markets in large quantities, pushing up the stock index performance of emerging markets. Until 2013, when the Fed began to gradually tighten monetary policy, global funds flowed back, and the market performance of developed economies was better than that of emerging markets. Well, when the Fed started a shrinking balance sheet, funds from emerging markets flowed out further. However, during this round of QE, the performance of emerging markets was actually inferior to that of developed markets. Although the pace of monetary tightening this time is fast, and rate hike's shrinking balance sheet almost completely overlap, considering that funds from emerging markets have flowed out this year, the stock index has been adjusted back, and risks have been released to some extent.</p><p><img src=\"https://static.tigerbbs.com/0387aaac6d684000a293b8abfe31ae00\" tg-width=\"1018\" tg-height=\"608\" referrerpolicy=\"no-referrer\"/></p><p><b>The scale of capital inflows is less than half of the previous round.</b>During the last round of Fed QE, the net inflow of stock and bond funds in emerging markets was approximately US $1.3 trillion, accounting for nearly 60% of the changes in the Fed's balance sheet. During this round of QE, as of the end of 2021, the net inflow of stock and bond funds in emerging markets was about US $570 billion, less than half of the previous round, and only accounted for about 13% of the changes in the Fed's balance sheet. Furthermore,<b>Most emerging market economies have already undertaken precautionary rate hike, so the scale of further capital outflows may be relatively limited</b>。</p><p><img src=\"https://static.tigerbbs.com/6ea99419ab1a44a0bc507c339e0f6c0d\" tg-width=\"1042\" tg-height=\"623\" referrerpolicy=\"no-referrer\"/></p><p><b>Bond market interest rates are easy to rise but difficult to fall.</b>From the perspective of historical performance, my country's Treasury Bond yields are consistent with U.S. bond yields in most cases. However, during the last round of the Federal Reserve shrinking balance sheet, the interest rate differential between the two countries narrowed as the Federal Reserve tightened the currency and the country continued to remain loose. In the late stage of the last round of Federal Reserve shrinking balance sheet, due to the liquidity crisis in the market, the Federal Reserve began to cut interest rates and stop shrinking balance sheet, driving U.S. bond yields down, and the spread between China and the United States widened again. At present, the inversion of the interest rate spread between China and the United States has already appeared. With the rise of U.S. bond yields, we believe that the easing space of domestic monetary policy represented by RRR cuts and interest rate cuts is restricted, and the domestic bond market yield level is easy to rise but difficult to fall.</p><p><img src=\"https://static.tigerbbs.com/a34509811861401da679c9d2b8fce9f6\" tg-width=\"1018\" tg-height=\"608\" referrerpolicy=\"no-referrer\"/></p><p><b>The US dollar remains strong, and the pressure of exchange rate depreciation increases.</b>The last round of shrinking balance sheet implemented by the Federal Reserve tightened the U.S. monetary policy compared with the euro zone margin, pushing the US Dollar Index upward. Overall, with the continuous shrinking balance sheet of the Federal Reserve, most currencies have depreciated compared with the US dollar, and the decline has gradually expanded. However, the Thai baht and Japanese yen performed relatively well during the last round of shrinking balance sheet. At present, the US Dollar Index has exceeded 100, and this round of shrinking balance sheet may bring certain depreciation pressure to major currencies in the world.</p><p><img src=\"https://static.tigerbbs.com/5f402c7ee3a74a64953d4aebd576d889\" tg-width=\"1014\" tg-height=\"605\" referrerpolicy=\"no-referrer\"/></p><p><b>Supply shocks dominate, and prices may remain high.</b>Energy commodities performed well in the early and mid-term of the last round of Fed shrinking balance sheet, while non-ferrous metals except nickel performed poorly. During the entire shrinking balance sheet of the last round of the Federal Reserve, precious metals first fell and then rose.<a href=\"https://laohu8.com/S/000061\">Agricultural products</a>Among them, the trends of corn and soybeans are somewhat divergent. At present, the upward trend in energy prices mainly comes from supply shocks, which are likely to be difficult to suppress by the rise of the US dollar. The prices of globally priced commodities, especially industrial products subject to supply constraints, may remain high.</p><p><img src=\"https://static.tigerbbs.com/873be73c90154fa3aeebabbfb73560e6\" tg-width=\"1048\" tg-height=\"625\" referrerpolicy=\"no-referrer\"/></p><p><b>Risk warning: policy changes, economic recovery is less than expected.</b></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a8fca69a364eb1ccaf6e9078f1721480","relate_stocks":{".DJI":"道琼斯"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2232733784","content_text":"5月美联储议息会议召开在即，除去加息之外，很可能会公布关于美联储缩表的路径、方式等细节内容。那么，在疫情后时代的环境之下，美联储本轮缩表与上轮有何不同？又会怎样影响经济和资本市场？本报告对此进行展开分析。概要这次缩表有什么不一样？首先，从货币收紧的成因上来看，本轮加息缩表主要受到通胀的推动。其次，从全球货币政策的动向上来看，上轮缩表前，除个别新兴市场加息外，全球主要经济体未见明显收紧，而本轮缩表前，全球多数央行都加快了货币收紧进程。第三，从加息和缩表两种货币政策收紧方式的配合性上来看，本次缩表两者协同性更高。第四，从实施方式上来看，本轮缩表方式以被动为主，但或主动出售部分未到期的MBS。第五，从缩表的速度上来看，本轮推进节奏明显加快，加息与缩表间隔或由上轮的22个月降至2个月。第六，从强度上来看，本次缩减的目标规模占GDP比重相较上轮明显提升。第七，从缩表影响的预防应对上来看，本次联储提前设立常备回购便利工具，尽可能保证市场流动性的充裕。最后，从缩表的总规模上来看，我们估算，本轮缩表约达1.63万亿，也远超上轮，并持续约18个月至2023年底结束。缩表如何影响流动性环境？美联储缩表对利率水平的影响存在三大传导路径。一方面，通过降低负债端的准备金规模减少货币供给（量）。另一方面，通过释放政策信号与资产组合再平衡的途径推高利率水平（价）。缩表对于短端利率也会有一定推升，而在长端利率上的作用效果更为明显，我们预计，本轮缩表每年约推升十年期美国国债收益率0.4个百分点。虽然缩表将显著降低流动性水平，但流动性危机短期或不会再现。一方面，市场现存流动性较高。另一方面，美联储设立新工具将有效平滑市场流动性波动。不过，在本轮缩表周期中，美联储大概率将主动出售其持有的机构MBS，或进一步推高抵押贷款利率。缩表下的全球资产变局。上轮缩表对新兴市场冲击较大，发达经济体内部表现则有所分化。从美股的行业表现上来看，信息技术涨幅明显，消费板块显著分化，可选消费好于必选，不过房地产、必选消费和公共事业的板块表现则随着美联储缩表的推进而逐步改善。全球股指方面，上轮缩表时期美股一枝独秀，而其它市场多数下行。新兴市场风险已有释放。不过，本轮QE期间，新兴市场表现事实上不及发达市场。考虑到新兴市场今年以来资金有所流出，股指已经回调，风险已有一定释放。截至2021年底新兴市场资金流入约5700亿美元，不足上轮QE期间的一半。多数新兴市场经济体已经进行了预防性加息，因而资本进一步外流的规模可能相对有限。从历史经验来看，上轮美联储缩表期间，中美利差因货币政策错位先收窄后扩大，当前中美利差倒挂已然出现，我们认为，国内以降准降息为代表的货币政策宽松空间受制，国内债市收益率水平易上难下。汇率方面，美元维持强势，或给全球其它主要货币带来一定的贬值压力。目前来看，能源价格的上行主要来自供给冲击，很可能难以被美元走高所压制，全球定价的大宗商品，特别是受到供给约束的工业品，价格或将居高不下。1、这次缩表有什么不一样？在经历过几轮QE之后，2017年美联储正式宣布缩表，直至2019年结束，虽然其作为少数可供参照的缩表时期，但是，本轮缩表很可能与上一轮存在较大的不同。通胀引发货币收紧。首先，从货币政策收紧的成因上来看，本轮加息缩表主要受到通胀的推动。上轮缩表前，美国经济已经步入复苏通道，制造业PMI稳定在荣枯线以上，失业率也创新低，就业市场整体良好，通胀水平一直以来在2%附近波动。而本轮就业市场虽也存在改善，但自2021年年中以来，美国通胀持续高企并逐步攀升，创下自大滞胀时期以来的新高，并且目前尚未出现见顶回落的迹象。加息抢跑防患未然。其次，从全球货币政策的动向上来看，上轮缩表前，除个别新兴市场加息外，全球主要经济体未见明显收紧。而2021年下半年，随着美联储货币收紧预期上升，俄罗斯、巴西等新兴经济体先后采取预防性加息，防范汇率贬值、资本外流风险。今年以来，俄乌危机推动能源价格高企，为了抑制通胀，全球多数央行都加快了货币收紧进程。多个新兴市场经济体单次加息至少50个基点，新西兰、加拿大、韩国等发达经济体也进入加息队列，全球已经迎来新一轮加息潮。缩表加息紧密配合。第三，从加息和缩表两种货币政策收紧方式的配合性上来看。持续几轮的量化宽松使得美联储资产负债表规模在上一轮缩表前夕，较金融危机发生前扩大近4倍，准备金过度宽裕令美联储试图将总资产规模正常化。同时，由于此前连续加息导致美元指数居高不下，通胀水平低位徘徊，当时在某种意义上，其实是以缩表作为加息的替代手段，这使得收紧方式上更加灵活，相对而言对于汇率和通胀的影响也比加息更为缓和。而反观本轮缩表，其主要目的在于配合加息这一方式，加快抑制通胀上行，缩减资产负债表和准备金规模回收过剩的流动性，特别是推高长端利率进而扩大期限利差，为持续加息创造条件。被动缩表为主，部分主动出售。第四，从缩表的实施方式上来看，上轮缩表主要是通过减少到期资金再投资的方式来进行的被动缩表，而并没有采取主动缩表（在市场上出售尚未到期的持有证券）的形式。不过，根据3月美联储议息会议纪要，本轮缩表方式以被动为主，但或主动出售未到期的MBS。一方面，3月议息会议上与会官员认为，MBS本金提前还款可能会低于缩表的每月上限。纽约联储和里士满联储研究估算，MBS提前偿还月均规模约在240-250亿左右，低于MBS缩减上限。另一方面，联储预计未来持有资产组合应主要由国债构成，考虑主动出售MBS是合适的。缩表速度明显加快。第五，从缩表的速度上来看。美联储在加息已达四次，历经22个月后才正式启动上轮缩表，首月缩减目标定为60亿的美国国债与40亿的MBS，并每三个月分别提高60亿和40亿额度，历时一年达到每月300亿美债及200亿MBS的缩减上限。在持续7个月后，美联储开始降低缩表上限，首次将国债和MBS上限分别降至150亿和200亿额度，再历经3个月后将二者上限降为零。而本轮缩表从时间上来看，美联储推进节奏明显加快，加息与缩表时间间隔或降至2个月，且最快或于缩表后3个月就达到每月600亿美债及350亿MBS的缩减上限。缩表强度有所提升。第六，从缩表的强度上来看。上次缩表过程中，美联储目标缩减规模占联储总资产比重最高约1.3%，占GDP比重最高约0.24%。尽管本次缩减上限提升至950亿美元且缩减速度大幅提升，但由于目前美联储达到历史最高规模的总资产，目标缩减规模占联储总资产比重未见明显变化，约为1.1%，而目标缩减规模占GDP比重约为0.41%，相较上轮明显提升。缩表影响提前应对。第七，从缩表影响的预防应对上来看。流动性危机是美联储终止上轮缩表进程的主要原因。金融危机后，为增强银行系统抵御流动性风险的能力，美联储在监管方面提高了对流动性资产的要求。2019年9月，由于缩表、缴税和国债认购缴款三重因素叠加，隔夜拆借利率一度飙升至10％，联邦基金利率也一度突破目标上限升至2.3%，迫使纽约联储近十年来首次出手干预隔夜回购市场，流动性短缺最终导致美联储退出缩表。本次联储充分吸取上轮缩表所暴露出的流动性问题，提前设立常备回购便利工具，尽可能保证市场流动性的充裕。缩表规模远超上轮。最后，从缩表的总规模上来看。在2017年-2019年整个缩表周期中，联储目标缩减规模为7550亿美元，实际缩减了约6500亿美元的总资产，占缩表前美联储总资产规模的15%，占当年GDP规模约3%。考虑到目前准备金充足，流动性较为宽松，本次加息进程不会因此重蹈覆辙。但未来若通胀势头有所遏制，加息缩表进程或也不排除提前结束。参照上轮缩表经验以及近期联储官员发言，准备金规模占名义GDP比例为8%时，市场流动性较为合适。若按IMF预测美国2023年名义GDP为26.7万亿，则合意准备金规模约为2.14万亿美元，粗略估算本轮缩表规模1.63万亿，占现有总资产规模的18.2%，缩表持续约18个月至2023年底结束。2、缩表如何影响流动性环境？美联储缩表对利率水平的影响存在三大传导路径。美联储资产负债表的扩张是在短期利率无法突破0利率下限约束的情况下，通过继续购买中长期国债，释放流动性并压平收益率曲线，降低长期限利率水平，从而达到继续刺激经济的手段。而缩表本质上是对扩表的逆向操作。一方面，通过降低负债端的准备金规模减少货币供给（量）。另一方面，通过释放政策信号与资产组合再平衡的途径推高利率水平（价）。短端利率也会上行。加息主要通过提高资金借贷成本来抑制货币需求，而缩表则直接通过影响货币供给进而推升短端利率。如果剔除加息对短端利率的影响后来看，缩表对短期利率推升事实上也有一定贡献。从上一轮缩表时期来看，短期国债收益率与基准利率目标的差值在美联储缩表前后变化明显，缩表后提高约0.2个百分点。长端利率明显推升。美联储缩表主要通过信号和资产组合再平衡途径影响长端利率。一方面，美联储释放资产负债表正常化信号，进行前瞻指引，改变收益率曲线预期，引导长端利率上行。另一方面，美联储持有长久期资产逐步下降，市场长久期资产供给上升，从而推高长端利率水平。根据Bauer and Neely（2012）的研究发现，GDP规模1%的美联储资产负债表变动将带来十年期国债收益率的变化约8bp，若按照缩表950亿美元的最大规模，预计每月将推升十年期国债收益率约3.3bp，每年的影响大约有0.4个百分点之多。美联储缩表将显著降低流动性水平。美联储缩表将同时使得资产和负债端规模有所下降。上轮美联储QE期间，准备金规模大幅上升至2.5万亿美元，并长期维持在这一水平附近。而上一轮缩表开始后，准备金规模大幅下降至约1.5万亿美元左右，隔夜逆回购规模也由2000亿美元降至0。流动性危机短期或不会再现。不过，我们认为，本轮缩表发生流动性危机的风险不高。一方面，市场现存流动性较高，准备金规模保持在4万亿左右的水平，隔夜逆回购规模也维持在1.6万亿的较高水平，远高于每月950亿美元的缩表规模。另一方面，美联储于2021年将国内和国外回购便利设立为常备，用于及时向市场提供流动性，新工具将有效平滑市场流动性波动。主动出售MBS或将推高房贷利率。随着美联储加速收紧货币政策，美国各期限国债收益率均有上升，带动30年期固定抵押贷款利率升破5%，创2011年以来新高。从历史数据来看，房贷利率抬升将提高居民购房成本，抑制购买需求，使房地产市场承压。本轮缩表周期中，美联储大概率将主动出售其持有的机构MBS，或进一步推高抵押贷款利率。3、缩表下的全球资产变局上轮缩表冲击新兴市场。美联储缩表对于大类资产表现会有怎样的影响？我们不妨先从上轮缩表中寻找线索。我们把上一轮美联储缩表过程划分为缩表开始至半年、达到缩减上限（一年）和整个缩表时期（时长约两年）三个阶段，并分别计算各类资产的收益表现。我们发现，上次缩表对于新兴市场的冲击较大，发达经济体内部则出现比较明显的分化。随着美联储缩表的进行，新兴市场需求占比更高的大宗商品价格明显回落，新兴市场指数也逐步调整，但发达经济体需求占比更高的原油和股指表现相对较好。从行业表现上来看，信息技术涨幅明显，可选消费好于必选。美联储上一轮缩表对于美股各行业表现的影响，整体来看，以信息技术行业涨幅最为突出。而消费板块存在显著分化，可选消费表现名列前茅，但必选消费则相对落后。不过，随着美联储缩表进程的推进，房地产、必选消费和公共事业表现则逐步改善。美股一枝独秀，其它市场多数下行。全球主要市场股市在上一轮美联储缩表期间呈现震荡态势，但走势上差异较大。其中，除美国以外的发达市场和新兴市场受到缩表冲击更大，呈现出震荡下行走势。而美股在美联储缩表开始后的一年时间内保持上行并创新高。各市场股指在2018年9月至2019年2月均出现短暂回撤，随后走势继续分化。新兴市场风险已有释放。上一轮美联储资产负债表扩张期间，资金大举流向新兴市场，推高了新兴市场的股指表现，直到2013年美联储开始逐步收紧货币政策，全球资金形成回流，发达经济体市场表现较新兴市场更好，而当美联储开始缩表，新兴市场资金进一步流出。不过，本轮QE期间，新兴市场表现事实上不及发达市场。虽然本次货币收紧节奏较快，加息缩表近乎完全重叠，但考虑到新兴市场今年以来资金有所流出，股指已经回调，风险已有一定释放。资金流入规模不足上轮一半。在上轮美联储QE期间，新兴市场股债资金净流入约1.3万亿美元，约占美联储资产负债表变动规模近60%。而本轮QE期间，截至2021年底新兴市场股债资金净流入约5700亿美元，不足上轮的一半，且仅占美联储资产负债表变动规模约13%。此外，多数新兴市场经济体已经进行了预防性加息，因而资本进一步外流的规模可能相对有限。债市利率易上难下。从历史表现上来看，我国国债收益率多数情况下和美债收益率走势一致。但在上轮美联储缩表期间，由于美联储收紧货币，而国内继续保持偏宽松的状态，导致两国利差收窄。上轮美联储缩表后期，由于市场出现流动性危机，美联储开始降息并停止缩表，带动美债收益率下行，中美利差再度扩大。当前中美利差倒挂已然出现，随着美债收益率水平的抬升，我们认为，国内以降准降息为代表的货币政策宽松空间受制，国内债市收益率水平易上难下。美元维持强势，汇率贬值压力加大。上轮美联储实施缩表使得美国货币政策较欧元区边际收紧，推动美元指数上行。总体来看，随着美联储缩表的不断进行，多数货币较美元贬值，跌幅逐步扩大，但上轮缩表期间泰铢和日元的表现相对较好。而目前美元指数已经超过100，这轮缩表或给全球主要货币都会带来一定的贬值压力。供给冲击主导，价格恐居高不下。能源商品在上轮美联储缩表的前中期表现较好，有色金属中除镍以外，均表现较差。而在上轮美联储的整个缩表期间，贵金属呈现先跌后升的局面。农产品中，玉米和大豆走势有所分化。当前来看，能源价格的上行主要来自供给冲击，很可能难以被美元走高所压制，全球定价的大宗商品，特别是受到供给约束的工业品，价格或将居高不下。风险提示：政策变动，经济恢复不及预期。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":512,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9060202957,"gmtCreate":1651150342522,"gmtModify":1676534858974,"author":{"id":"3576803992145384","authorId":"3576803992145384","name":"crazybee1235","avatar":"https://static.tigerbbs.com/6c499a430cc5a688f27aebff6afef12a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576803992145384","idStr":"3576803992145384"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9060202957","repostId":"1147036890","repostType":4,"isVote":1,"tweetType":1,"viewCount":786,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}