Profile - To The Moon

熊也赚钱

Posts · 131Posts · 131
Following · 0Following · 0
Followers · 0Followers · 0

- 熊也赚钱熊也赚钱
  ·2023-01-23
  good
  Sorry, this post has been deleted
  5.73K Comment
  Like
  Share
  Report
- 熊也赚钱熊也赚钱
  ·2022-11-09
  Good
  Volatility is nearing its highest level since the financial crisis! Will US Treasury bonds collapse like UK Treasury bonds?
  市场观察人士表示，数千亿美元的波动驱动型产品加剧了市场波动。
  Volatility is nearing its highest level since the financial crisis! Will US Treasury bonds collapse like UK Treasury bonds?
  6.00K Comment
  Like
  Share
  Report
- 熊也赚钱熊也赚钱
  ·2022-10-18
  [强] [强] [强]
  Sorry, this post has been deleted
  5.45K Comment
  Like
  Share
  Report
- 熊也赚钱熊也赚钱
  ·2022-09-07
  $Drone Delivery CDA Corp(TAKOF)$
  5.78K Comment
  Like
  Share
  Report
- 熊也赚钱熊也赚钱
  ·2022-09-05
  $阿斯麦(ASML)$watch recently bottom， there is a chance to get in
  5.86K Comment
  1
  Share
  Report
- 熊也赚钱熊也赚钱
  ·2022-08-28
  good
  Eagle! One article to understand the key points of Powell's speech at Jackson Hole
  美联储主席鲍威尔星期五做出了遏制通货膨胀的严厉承诺。他警告说，他预计美联储将继续以一种会给美国经济带来“一些痛苦”的方式加息。在鲍威尔开始讲话后，美股跳水，纳指跌幅1%，道指大跌近200点。鲍威尔在怀
  Eagle! One article to understand the key points of Powell's speech at Jackson Hole
  6.03K Comment
  Like
  Share
  Report
- 熊也赚钱熊也赚钱
  ·2022-08-12
  good
  Sorry, this post has been deleted
  6.12K Comment
  Like
  Share
  Report
- 熊也赚钱熊也赚钱
  ·2022-07-29
  good
  Sorry, this post has been deleted
  7.25K Comment
  Like
  Share
  Report
- 熊也赚钱熊也赚钱
  ·2021-06-08
  wwa
  [Unusual Movement] Stocks favored by retail investors surge, with GameStation rising over 20%.
  6月8日，散户抱团股集体发力拉升，游戏驿站涨超20%，高斯电子涨超12%，黑莓涨超7%，AMC院线涨近6%。周一，美国证券交易委员会(SEC)表示，正在密切关注MEME股票的疯狂交易，以确保市场稳定。
  [Unusual Movement] Stocks favored by retail investors surge, with GameStation rising over 20%.
  6.62K Comment
  Like
  Share
  Report
- 熊也赚钱熊也赚钱
  ·2021-03-20
  ready to fly
  6.42K Comment
  Like
  Share
  Report

Most Discussed

{"i18n":{"language":"en_US"},"isCurrentUser":false,"userPageInfo":{"id":"3575790689237418","uuid":"3575790689237418","gmtCreate":1612696934897,"gmtModify":1613365886787,"name":"熊也赚钱","pinyin":"xyzqxiongyezhuanqian","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.tigerbbs.com/c8904569094dabce050ca2c86654aba6","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":8,"headSize":760,"tweetSize":131,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":3,"name":"书生虎","nameTw":"書生虎","represent":"努力向上","factor":"发布10条非转发主帖,其中5条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":1,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-4","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Tiger Star","description":"Join the tiger community for 2000 days","bigImgUrl":"https://static.tigerbbs.com/dddf24b906c7011de2617d4fb3f76987","smallImgUrl":"https://static.tigerbbs.com/53d58ad32c97254c6f74db8b97e6ec49","grayImgUrl":"https://static.tigerbbs.com/6304700d92ad91c7a33e2e92ec32ecc1","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.08.01","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":1,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":1,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":3,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"page":1,"watchlist":null,"tweetList":[{"id":9952309493,"gmtCreate":1674429134513,"gmtModify":1676538939834,"author":{"id":"3575790689237418","authorId":"3575790689237418","name":"熊也赚钱","avatar":"https://static.tigerbbs.com/c8904569094dabce050ca2c86654aba6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575790689237418","idStr":"3575790689237418"},"themes":[],"title":"","htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9952309493","repostId":"2305998624","repostType":4,"isVote":1,"tweetType":1,"viewCount":5732,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9987241573,"gmtCreate":1667943447492,"gmtModify":1676537986247,"author":{"id":"3575790689237418","authorId":"3575790689237418","name":"熊也赚钱","avatar":"https://static.tigerbbs.com/c8904569094dabce050ca2c86654aba6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575790689237418","idStr":"3575790689237418"},"themes":[],"title":"","htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9987241573","repostId":"2281033994","repostType":4,"repost":{"id":"2281033994","kind":"highlight","pubTimestamp":1667920249,"share":"https://ttm.financial/m/news/2281033994?lang=en_US&edition=fundamental","pubTime":"2022-11-08 23:10","market":"us","language":"zh","title":"Volatility is nearing its highest level since the financial crisis! Will US Treasury bonds collapse like UK Treasury bonds?","url":"https://stock-news.laohu8.com/highlight/detail?id=2281033994","media":"智通财经网","summary":"市场观察人士表示，数千亿美元的波动驱动型产品加剧了市场波动。","content":"<p><html><head></head><body>Over the past decade, as extremely low interest rates have depressed returns on fixed-income assets, Wall Street's top quantitative investment teams have offered a sophisticated range of products to investors seeking higher returns, allowing them to earn additional returns in sluggish markets.</p><p>Now, in the worst bond crash in at least five decades, institutions are scrambling to hedge their positions, buying heavily into derivatives that benefit from rising volatility in an attempt to mitigate losses.</p><p>But in fact, in the process, they are just adding fuel to the fire. Currently, a measure of interest rate volatility is approaching its highest level since the global financial crisis, surpassing the sharp fluctuations in the stock and foreign exchange markets. At the very least, this increases the risk for bond traders, increasing their chances of making quick profits or losing money in the market. The Federal Reserve's most aggressive rate hike in a year has severely damaged the bond market.</p><p>This has raised concerns among some market participants that structural positions in the $24 trillion U.S. Treasury Bond market could have unforeseen consequences, much like the debt-driven investment strategy (LDI) that exacerbated the U.K. Treasury Bond sell-off last month.</p><p>Michael Pintar, head of U.S. liquidity strategy and solutions at Societe Generale, said: “Many bonds previously issued in low-interest, low-volatility environments still exist, and institutions need to hedge. This creates a feedback loop.”</p><p><img src=\"https://static.tigerbbs.com/4a2d8213bf2669dfeff756b73d00e220\" tg-width=\"670\" tg-height=\"376\" referrerpolicy=\"no-referrer\"/></p><p>This makes it seem that this year's market can generate huge volatility without any additional factors.</p><p>Soaring U.S. Treasury Bond yields have prompted investors to reduce bond risk by buying derivatives (including short-term interest rate swaps) that profit from rising interest rates. According to Danny Dayan, chief investment officer of macro hedge fund Dwd Partners, this, in turn, has encouraged traders to desperately seek out long-term volatility bets to hedge their risk exposure.</p><p>Therefore, one-sided bets in the market have driven a significant rise in the MOVE index, which measures US Treasury Bond volatility, this year. Last month, the index broke through 160, near its highest point since the financial crisis, as the 10-year Treasury Bond yield surged to 4.3%.</p><p><b>Structural problems caused by low volatility bets</b></p><p>Market observers say that hundreds of billions of dollars in volatility-driven products have exacerbated market volatility.</p><p>Simply put, these products are indirect bets on the rise and fall of bond yields. Over the past decade, investors eager for returns have rushed to buy these products, betting that the market will be low in volatility.</p><p>These bets were considered guaranteed profits until the overall environment changed. Investors are suffering huge losses as bond yields soar. Meanwhile, banks were supposed to hedge their risks, so they could emerge from these one-sided bets regardless of market movements, but the US Treasury Bond fluctuated more violently than they expected.</p><p>In fact, soaring interest rates are forcing many traders to adjust their positions in response to greater volatility, as are other institutions in the market.</p><p>LongTail Alpha LLC Founder,<a href=\"https://laohu8.com/S/601099\">Pacific Ocean</a>Vineer Bhansali, former head of portfolio management analysis at an investment management firm, said: “Traders have to buy into volatility when you’re past the inflection point. A lot has happened this year that makes me believe we’re on the edge of a free fall—these structures are just one factor.”</p><p>Many of these volatility-driven products—with incredibly obscure names such as corridor notes, fairway bonds, and range-based interest-bearing options—depend on interest rates remaining within a preset trading range.</p><p>Some interest-bearing options—with an estimated $40 billion in circulation—are related not only to keeping yields low, but also to the shape of the U.S. Treasury Bond curve. Typically, the U.S. Treasury Bond yield curve slopes upward.</p><p>As long as this situation persists, the holder of the product will receive coupon interest payments. On the other hand, to hedge risk, traders sell options that can also benefit from a positive maturity structure.</p><p>When the yield curve first inverted earlier this year, many traders no longer needed to pay interest on bonds. But as the yield premium of short-term bonds relative to longer-term bonds continues to climb, the options they sell become problematic, breaking through key thresholds and thus making buyers' profits higher and higher.</p><p>Essentially, they lose more on hedging than they gain on long-term volatility exposure. Therefore, to protect themselves, traders began buying more volatile products, said Pintar of Societe Generale.</p><p>Other analysts have pointed out that changes in debt supply dynamics have also exacerbated interest rate volatility.</p><p><a href=\"https://laohu8.com/S/BCS\">Barclays Bank</a>Interest rate strategist Amrut Nashikkar said, \"Supply has dried up. At the same time, demand for volatility has increased because going long on volatility has been a good trade over the past few years, and there is uncertainty surrounding the Federal Reserve's actions.\"</p><p><img src=\"https://static.tigerbbs.com/894f289ce79eab3a05c81b4e392e0207\" tg-width=\"678\" tg-height=\"472\" referrerpolicy=\"no-referrer\"/></p><p>For some, concerns are growing that more pain may be on the horizon as investors continue to buy volatility as Fed rate hike and traders are increasingly forced to hedge positions. Just last week, swap dealers raised their expectations that the Federal Reserve would raise interest rates to 5.25%, a level almost unimaginable a few months ago.</p><p>Recently, Britain's pension schemes were also caught off guard: derivatives that had profited from falling government bond yields had the opposite effect due to soaring interest rates. The requirement for additional margin has fueled a forced sell-off in British Treasury Bond, which has further pushed up yields and, in turn, increased the collateral that pension plans need to pay. Only the intervention of the Bank of England stopped the plunge.</p><p>Although Bhansali of LongTail Alpha believes that the U.S. Treasury Bond does not pose the same magnitude of structural risk, he still sees potential problems.</p><p>Bhansali stated, \"The curve is so inverted that the MOVE index is almost at an all-time high, which basically sets the stage for a VIX-like collapse in the interest rate market (Bhansali was referring to the unexpected surge in the VIX, a measure of U.S. stock market volatility, in 2018).\"</p><p>Although some analysts are not so pessimistic, most believe that high interest rate volatility will continue.</p><p><a href=\"https://laohu8.com/S/MTU\">MUFG Financial</a>George Goncalves, the group's head of U.S. macro strategy, said: \"Volatility is fundamentally a sign of our upcoming trend.\"<a href=\"https://laohu8.com/S/600628\">New World</a>Repricing reflects an environment of higher interest rates and greater inflationary uncertainty. Volatility hedging by traders is adding fuel to the fire in our current highly volatile environment.</p><p></body></html></p>","source":"highlight_zhitongcaijin","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>Volatility is nearing its highest level since the financial crisis! Will US Treasury bonds collapse like UK Treasury bonds?</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\">\nVolatility is nearing its highest level since the financial crisis! Will US Treasury bonds collapse like UK Treasury bonds?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2022-11-08 23:10</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Over the past decade, as extremely low interest rates have depressed returns on fixed-income assets, Wall Street's top quantitative investment teams have offered a sophisticated range of products to investors seeking higher returns, allowing them to earn additional returns in sluggish markets.</p><p>Now, in the worst bond crash in at least five decades, institutions are scrambling to hedge their positions, buying heavily into derivatives that benefit from rising volatility in an attempt to mitigate losses.</p><p>But in fact, in the process, they are just adding fuel to the fire. Currently, a measure of interest rate volatility is approaching its highest level since the global financial crisis, surpassing the sharp fluctuations in the stock and foreign exchange markets. At the very least, this increases the risk for bond traders, increasing their chances of making quick profits or losing money in the market. The Federal Reserve's most aggressive rate hike in a year has severely damaged the bond market.</p><p>This has raised concerns among some market participants that structural positions in the $24 trillion U.S. Treasury Bond market could have unforeseen consequences, much like the debt-driven investment strategy (LDI) that exacerbated the U.K. Treasury Bond sell-off last month.</p><p>Michael Pintar, head of U.S. liquidity strategy and solutions at Societe Generale, said: “Many bonds previously issued in low-interest, low-volatility environments still exist, and institutions need to hedge. This creates a feedback loop.”</p><p><img src=\"https://static.tigerbbs.com/4a2d8213bf2669dfeff756b73d00e220\" tg-width=\"670\" tg-height=\"376\" referrerpolicy=\"no-referrer\"/></p><p>This makes it seem that this year's market can generate huge volatility without any additional factors.</p><p>Soaring U.S. Treasury Bond yields have prompted investors to reduce bond risk by buying derivatives (including short-term interest rate swaps) that profit from rising interest rates. According to Danny Dayan, chief investment officer of macro hedge fund Dwd Partners, this, in turn, has encouraged traders to desperately seek out long-term volatility bets to hedge their risk exposure.</p><p>Therefore, one-sided bets in the market have driven a significant rise in the MOVE index, which measures US Treasury Bond volatility, this year. Last month, the index broke through 160, near its highest point since the financial crisis, as the 10-year Treasury Bond yield surged to 4.3%.</p><p><b>Structural problems caused by low volatility bets</b></p><p>Market observers say that hundreds of billions of dollars in volatility-driven products have exacerbated market volatility.</p><p>Simply put, these products are indirect bets on the rise and fall of bond yields. Over the past decade, investors eager for returns have rushed to buy these products, betting that the market will be low in volatility.</p><p>These bets were considered guaranteed profits until the overall environment changed. Investors are suffering huge losses as bond yields soar. Meanwhile, banks were supposed to hedge their risks, so they could emerge from these one-sided bets regardless of market movements, but the US Treasury Bond fluctuated more violently than they expected.</p><p>In fact, soaring interest rates are forcing many traders to adjust their positions in response to greater volatility, as are other institutions in the market.</p><p>LongTail Alpha LLC Founder,<a href=\"https://laohu8.com/S/601099\">Pacific Ocean</a>Vineer Bhansali, former head of portfolio management analysis at an investment management firm, said: “Traders have to buy into volatility when you’re past the inflection point. A lot has happened this year that makes me believe we’re on the edge of a free fall—these structures are just one factor.”</p><p>Many of these volatility-driven products—with incredibly obscure names such as corridor notes, fairway bonds, and range-based interest-bearing options—depend on interest rates remaining within a preset trading range.</p><p>Some interest-bearing options—with an estimated $40 billion in circulation—are related not only to keeping yields low, but also to the shape of the U.S. Treasury Bond curve. Typically, the U.S. Treasury Bond yield curve slopes upward.</p><p>As long as this situation persists, the holder of the product will receive coupon interest payments. On the other hand, to hedge risk, traders sell options that can also benefit from a positive maturity structure.</p><p>When the yield curve first inverted earlier this year, many traders no longer needed to pay interest on bonds. But as the yield premium of short-term bonds relative to longer-term bonds continues to climb, the options they sell become problematic, breaking through key thresholds and thus making buyers' profits higher and higher.</p><p>Essentially, they lose more on hedging than they gain on long-term volatility exposure. Therefore, to protect themselves, traders began buying more volatile products, said Pintar of Societe Generale.</p><p>Other analysts have pointed out that changes in debt supply dynamics have also exacerbated interest rate volatility.</p><p><a href=\"https://laohu8.com/S/BCS\">Barclays Bank</a>Interest rate strategist Amrut Nashikkar said, \"Supply has dried up. At the same time, demand for volatility has increased because going long on volatility has been a good trade over the past few years, and there is uncertainty surrounding the Federal Reserve's actions.\"</p><p><img src=\"https://static.tigerbbs.com/894f289ce79eab3a05c81b4e392e0207\" tg-width=\"678\" tg-height=\"472\" referrerpolicy=\"no-referrer\"/></p><p>For some, concerns are growing that more pain may be on the horizon as investors continue to buy volatility as Fed rate hike and traders are increasingly forced to hedge positions. Just last week, swap dealers raised their expectations that the Federal Reserve would raise interest rates to 5.25%, a level almost unimaginable a few months ago.</p><p>Recently, Britain's pension schemes were also caught off guard: derivatives that had profited from falling government bond yields had the opposite effect due to soaring interest rates. The requirement for additional margin has fueled a forced sell-off in British Treasury Bond, which has further pushed up yields and, in turn, increased the collateral that pension plans need to pay. Only the intervention of the Bank of England stopped the plunge.</p><p>Although Bhansali of LongTail Alpha believes that the U.S. Treasury Bond does not pose the same magnitude of structural risk, he still sees potential problems.</p><p>Bhansali stated, \"The curve is so inverted that the MOVE index is almost at an all-time high, which basically sets the stage for a VIX-like collapse in the interest rate market (Bhansali was referring to the unexpected surge in the VIX, a measure of U.S. stock market volatility, in 2018).\"</p><p>Although some analysts are not so pessimistic, most believe that high interest rate volatility will continue.</p><p><a href=\"https://laohu8.com/S/MTU\">MUFG Financial</a>George Goncalves, the group's head of U.S. macro strategy, said: \"Volatility is fundamentally a sign of our upcoming trend.\"<a href=\"https://laohu8.com/S/600628\">New World</a>Repricing reflects an environment of higher interest rates and greater inflationary uncertainty. Volatility hedging by traders is adding fuel to the fire in our current highly volatile environment.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/826374.html\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55eb327f580527889cf30bafa92692ae","relate_stocks":{},"source_url":"http://www.zhitongcaijing.com/content/detail/826374.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2281033994","content_text":"在过去的十年里，由于极低的利率压低了固定收益资产的回报率，华尔街顶级的量化投资团队为那些想要更高收益率的投资者提供了一系列复杂的产品，让投资者能在萎靡不振的市场获得额外的回报率。而现在，在至少五十年来最严重的债券崩盘中，各家机构争相对冲自己的头寸，大量买进从波动率上升中受益的衍生品，以寻求减少损失。但事实上，在这个过程中，他们只是在火上浇油。目前，一项衡量利率波动率的指标已经接近全球金融危机以来的最高水平，超过了股市和汇市的剧烈波动。至少，这增加了债券交易员的风险，增加了他们在市场中快速获利或蒙受损失的机会。一年来，美联储最激进的加息令债市遭受重创。这引发了部分市场人士的担忧，即24万亿美元的美国国债市场中的结构性头寸可能将引发不可预见的后果，就像负债驱动投资策略(LDI)在上月加剧了英国国债抛售一样。法兴银行美国资金流动策略和解决方案主管Michael  Pintar表示：“很多此前在低利率、低波动性环境下发行的债券仍存在，机构需要进行对冲。这就形成了一个反馈循环。”这令今年的市场似乎不需要额外的因素就能产生巨大的波动。美国国债收益率飙升促使投资者通过购买从利率上升中获利的衍生品(包括短期利率掉期期权)来降低债券风险。据宏观对冲基金Dwd  Partners的首席投资官Danny Dayan表示，这反过来又助长了交易商拼命寻找长期波动率押注，以对冲自己的风险敞口。因此，市场的单边押注推动了衡量美国国债波动率的MOVE指数在今年的大幅上涨。上个月，随着10年期国债收益率飙升至4.3%，该指数突破160，接近金融危机以来的最高点。低波动率押注造成的结构性问题市场观察人士表示，数千亿美元的波动驱动型产品加剧了市场波动。简单来说，这些产品是对债券收益率涨跌的间接押注。在过去的十年里，渴望回报的投资者争相买入这些产品，押注市场将处于低波动性。这些押注被认为是稳赚不赔的事，直到整体环境出现变化。随着债券收益率飙升，投资者正承受着巨大的损失。与此同时，对于银行而言，它们本应对冲自己的风险，因此无论市场走势如何，它们都能在这些单边押注中走出来，但美国国债的波动却比它们预期的更为剧烈。事实上，飙升的利率正迫使许多交易商为应对更大的波动性而调整仓位，而市场上的其他机构也在这么做。LongTail Alpha LLC创始人、太平洋投资管理公司前投资组合管理分析部门主管Vineer  Bhansali表示：“当你度过拐点时，交易商必须买入波动率。今年发生了很多事情，这让我相信我们已经处于自由落体的悬崖边上——这些结构只是其中一个因素。”这些波动性驱动的产品——有着走廊票据、球道债券和区间计息期权等难以置信的晦涩名称——许多都取决于维持在预设交易区间内的利率。部分区间计息期权——估计有400亿美元流通在外——不仅与收益率保持在低位有关，还与美国国债曲线的形状有关。通常情况下，美国国债收益率曲线向上倾斜。只要这种情况仍然存在，该产品的持有者就会收取券息付款。另一方面，为了对冲风险，交易商出售同样可以从积极期限结构中受益的期权。而当收益率曲线在今年早些时候首次倒挂时，许多交易商不再需要支付债券的利息。但随着短期债券相对于较长期债券的收益率溢价继续攀升，它们出售的期权就成了问题，突破了关键的阈值，从而使买方的利润越来越高。从本质上讲，他们在对冲上的损失比在长期波动敞口上的收益要多。法兴银行的Pintar表示，因此，为了保护自己，交易商开始买入波动性更大的产品。还有其他分析人士指出，债务供应动态的变化也加剧了利率波动。巴克莱银行利率策略师Amrut  Nashikkar表示：“供应已经枯竭。与此同时，对波动率的需求有所上升，因为过去几年做多波动率一直是一项不错的交易，而且美联储的行动也存在不确定性。”对一些人来说，随着美联储加息和交易商越来越被迫对冲头寸，投资者继续买入波动率，对更多痛苦可能即将到来的担忧正在加剧。就在上周，掉期交易商提高了对美联储将利率提高到5.25%的预期，这一水平在几个月前几乎是不可想象的。最近，英国的养老金计划也被打了个措手不及：原本从政府债券收益率下跌中获利的衍生品，由于利率飙升而产生了事与愿违的效果。追加保证金的要求助长了英国国债的被迫抛售，这进一步推高了收益率，进而增加了养老金计划需要支付的抵押品。只有英国央行的干预才止住了暴跌。虽然LongTail Alpha的Bhansali认为美国国债没有同样数量级的结构性风险，但他还是看到了潜在的问题。Bhansali表示：“曲线如此倒挂，MOVE指数几乎处于历史高位，这基本上为利率市场出现类似VIX的崩盘做好了完美准备(Bhansali指的是在2018年，衡量美国股市波动率的指标VIX意外飙升)。”尽管有分析师并没有那么悲观，但大多数人都认为，较高的利率波动性将持续下去。三菱日联金融集团美国宏观策略主管George  Goncalves表示：“波动性从根本上是在为我们即将走向的新世界重新定价，这是一个利率更高、通胀不确定性更大的环境。交易商进行的波动性对冲，是为我们目前所处的高波动性环境火上浇油。”","news_type":1,"symbols_score_info":{"ZNmain":0.9}},"isVote":1,"tweetType":1,"viewCount":6001,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9983002382,"gmtCreate":1666102860946,"gmtModify":1676537706448,"author":{"id":"3575790689237418","authorId":"3575790689237418","name":"熊也赚钱","avatar":"https://static.tigerbbs.com/c8904569094dabce050ca2c86654aba6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575790689237418","idStr":"3575790689237418"},"themes":[],"title":"","htmlText":"[强]&nbsp;[强]&nbsp;[强]&nbsp;","listText":"[强]&nbsp;[强]&nbsp;[强]&nbsp;","text":"[强] [强] [强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9983002382","repostId":"1122318881","repostType":4,"isVote":1,"tweetType":1,"viewCount":5448,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9931771347,"gmtCreate":1662515718889,"gmtModify":1676537078160,"author":{"id":"3575790689237418","authorId":"3575790689237418","name":"熊也赚钱","avatar":"https://static.tigerbbs.com/c8904569094dabce050ca2c86654aba6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575790689237418","idStr":"3575790689237418"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/TAKOF\">$Drone Delivery CDA Corp(TAKOF)$</a>","listText":"<a href=\"https://ttm.financial/S/TAKOF\">$Drone Delivery CDA Corp(TAKOF)$</a>","text":"$Drone Delivery CDA Corp(TAKOF)$","images":[{"img":"https://community-static.tradeup.com/news/9adaf29c98554afbeec10767c51822ce","width":"1125","height":"1740"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9931771347","isVote":1,"tweetType":1,"viewCount":5782,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9931074674,"gmtCreate":1662373363298,"gmtModify":1676537047690,"author":{"id":"3575790689237418","authorId":"3575790689237418","name":"熊也赚钱","avatar":"https://static.tigerbbs.com/c8904569094dabce050ca2c86654aba6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575790689237418","idStr":"3575790689237418"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/ASML\">$阿斯麦(ASML)$</a>watch recently bottom， there is a chance to get&nbsp;in","listText":"<a href=\"https://ttm.financial/S/ASML\">$阿斯麦(ASML)$</a>watch recently bottom， there is a chance to get&nbsp;in","text":"$阿斯麦(ASML)$watch recently bottom， there is a chance to get in","images":[{"img":"https://community-static.tradeup.com/news/77f4c7692267ddc2795a4ed7450f4725","width":"1242","height":"2738"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9931074674","isVote":1,"tweetType":1,"viewCount":5855,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9994458968,"gmtCreate":1661678374359,"gmtModify":1676536560293,"author":{"id":"3575790689237418","authorId":"3575790689237418","name":"熊也赚钱","avatar":"https://static.tigerbbs.com/c8904569094dabce050ca2c86654aba6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575790689237418","idStr":"3575790689237418"},"themes":[],"title":"","htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9994458968","repostId":"1135834316","repostType":4,"repost":{"id":"1135834316","kind":"news","pubTimestamp":1661523572,"share":"https://ttm.financial/m/news/1135834316?lang=en_US&edition=fundamental","pubTime":"2022-08-26 22:19","market":"us","language":"zh","title":"Eagle! One article to understand the key points of Powell's speech at Jackson Hole","url":"https://stock-news.laohu8.com/highlight/detail?id=1135834316","media":"Wind资讯","summary":"美联储主席鲍威尔星期五做出了遏制通货膨胀的严厉承诺。他警告说，他预计美联储将继续以一种会给美国经济带来“一些痛苦”的方式加息。在鲍威尔开始讲话后，美股跳水，纳指跌幅1%，道指大跌近200点。鲍威尔在怀","content":"<p><html><head></head><body>Federal Reserve Chairman Jerome Powell made a tough pledge on Friday to curb inflation. He warned that he expected the Federal Reserve to continue rate hike in a way that would cause \"some pain\" to the U.S. economy.</p><p>After Powell began his speech, U.S. stocks plunged, with the Nasdaq down 1% and the Dow Jones Industrial Average falling nearly 200 points.</p><p>In his highly anticipated annual policy address in Jackson Hole, Wyoming, Powell reiterated that the Federal Reserve would “strongly use our tools” to combat inflation, which remains near its highest level in more than 40 years.</p><p>Powell stated that despite the Federal Reserve's four consecutive rate hike, totaling a rate hike of 2.25 percentage points, there is \"no room to stop or pause,\" even though the benchmark interest rate may be at a level that neither stimulates nor restricts economic growth.</p><p>In his speech, he stated, \"While rising interest rates, slowing economic growth, and a weak job market will suppress inflation, they will also bring some pain to households and businesses.\" \"This is an unfortunate price to pay for lowering inflation. But failing to restore price stability will mean even greater pain.\"</p><p>At the same time, there are signs that inflation may have peaked, but it has not shown any obvious signs of declining. The Consumer Price Index and the Personal Consumption Expenditures Price Index, two closely watched indicators, showed that prices did not change much in July, mainly due to a sharp drop in energy costs.</p><p>Meanwhile, other sectors of the economy are slowing down. The real estate market, in particular, is declining rapidly, and economists expect that the sharp increase in hiring over the past year and a half may cool down.</p><p>However, Powell warned that the Federal Reserve is focused on more than just one or two months of data; it will continue to push forward until inflation falls close to its long-term target of 2%.</p><p>He said, \"We are purposefully adjusting our policy stance to a level sufficient to limit inflation back to 2%.\" Looking ahead, he added, \"Restoring price stability may require maintaining a restrictive policy stance for some time. Historical records strongly warn against premature easing of policy.\"</p><p>Although Federal Reserve leaders, including Powell, often use the Jackson Hole seminar as an opportunity to outline broad policy shifts, he noted in his opening remarks that his \"speech will be shorter, my focus will be narrower, and the message I will convey will be more direct.\"</p><p>He said, \"Price stability is the responsibility of the Federal Reserve and the cornerstone of our economy.\" \"Without price stability, the economy is not suitable for anyone.\"</p><p>The Federal Reserve is using past experiences and lessons as a guide for current policy. Powell specifically pointed out that inflation 40 years ago offers three lessons for the current Federal Reserve: central banks like the Federal Reserve have a responsibility to manage inflation, expectations are crucial, and \"we must persevere until the job is done.\"</p><p>Powell pointed out that the Federal Reserve's failure to take strong action in the 1970s led to the persistence of high inflation expectations, which in turn led to the severe rate hike of the early 1980s. At the time, Paul Volcker, then chairman of the Federal Reserve, dragged the economy into recession to curb inflation.</p><p>While Powell has repeatedly stated that he does not believe a U.S. economic recession is an inevitable outcome, he pointed out that managing expectations is crucial if the Federal Reserve is to avoid a Volcker-style outcome.</p><p>Powell said that in the early 1980s, \"in order to curb high inflation and begin to bring it down to a low and stable level, a long period of very tight monetary policy was ultimately needed, and this process did not become the norm until last spring.\" \"Our goal is to avoid this outcome by taking firm action now.\"</p><p>He said, \"Of course, almost everyone is focused on inflation right now, which highlights a special risk today: the longer the current round of high inflation lasts, the greater the likelihood that rising inflation expectations will become more entrenched.\"</p><p></body></html></p>","source":"wind","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>Eagle! One article to understand the key points of Powell's speech at Jackson Hole</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\">\nEagle! One article to understand the key points of Powell's speech at Jackson Hole\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Wind资讯</strong><span class=\"h-time small\">2022-08-26 22:19</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Federal Reserve Chairman Jerome Powell made a tough pledge on Friday to curb inflation. He warned that he expected the Federal Reserve to continue rate hike in a way that would cause \"some pain\" to the U.S. economy.</p><p>After Powell began his speech, U.S. stocks plunged, with the Nasdaq down 1% and the Dow Jones Industrial Average falling nearly 200 points.</p><p>In his highly anticipated annual policy address in Jackson Hole, Wyoming, Powell reiterated that the Federal Reserve would “strongly use our tools” to combat inflation, which remains near its highest level in more than 40 years.</p><p>Powell stated that despite the Federal Reserve's four consecutive rate hike, totaling a rate hike of 2.25 percentage points, there is \"no room to stop or pause,\" even though the benchmark interest rate may be at a level that neither stimulates nor restricts economic growth.</p><p>In his speech, he stated, \"While rising interest rates, slowing economic growth, and a weak job market will suppress inflation, they will also bring some pain to households and businesses.\" \"This is an unfortunate price to pay for lowering inflation. But failing to restore price stability will mean even greater pain.\"</p><p>At the same time, there are signs that inflation may have peaked, but it has not shown any obvious signs of declining. The Consumer Price Index and the Personal Consumption Expenditures Price Index, two closely watched indicators, showed that prices did not change much in July, mainly due to a sharp drop in energy costs.</p><p>Meanwhile, other sectors of the economy are slowing down. The real estate market, in particular, is declining rapidly, and economists expect that the sharp increase in hiring over the past year and a half may cool down.</p><p>However, Powell warned that the Federal Reserve is focused on more than just one or two months of data; it will continue to push forward until inflation falls close to its long-term target of 2%.</p><p>He said, \"We are purposefully adjusting our policy stance to a level sufficient to limit inflation back to 2%.\" Looking ahead, he added, \"Restoring price stability may require maintaining a restrictive policy stance for some time. Historical records strongly warn against premature easing of policy.\"</p><p>Although Federal Reserve leaders, including Powell, often use the Jackson Hole seminar as an opportunity to outline broad policy shifts, he noted in his opening remarks that his \"speech will be shorter, my focus will be narrower, and the message I will convey will be more direct.\"</p><p>He said, \"Price stability is the responsibility of the Federal Reserve and the cornerstone of our economy.\" \"Without price stability, the economy is not suitable for anyone.\"</p><p>The Federal Reserve is using past experiences and lessons as a guide for current policy. Powell specifically pointed out that inflation 40 years ago offers three lessons for the current Federal Reserve: central banks like the Federal Reserve have a responsibility to manage inflation, expectations are crucial, and \"we must persevere until the job is done.\"</p><p>Powell pointed out that the Federal Reserve's failure to take strong action in the 1970s led to the persistence of high inflation expectations, which in turn led to the severe rate hike of the early 1980s. At the time, Paul Volcker, then chairman of the Federal Reserve, dragged the economy into recession to curb inflation.</p><p>While Powell has repeatedly stated that he does not believe a U.S. economic recession is an inevitable outcome, he pointed out that managing expectations is crucial if the Federal Reserve is to avoid a Volcker-style outcome.</p><p>Powell said that in the early 1980s, \"in order to curb high inflation and begin to bring it down to a low and stable level, a long period of very tight monetary policy was ultimately needed, and this process did not become the norm until last spring.\" \"Our goal is to avoid this outcome by taking firm action now.\"</p><p>He said, \"Of course, almost everyone is focused on inflation right now, which highlights a special risk today: the longer the current round of high inflation lasts, the greater the likelihood that rising inflation expectations will become more entrenched.\"</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://t.wind.com.cn/mobwftweb/M/news.html?share=wechat&show=wft&shareCode=45590b8720c3be8d1069d5ef3c0d2096&code=EACEC9EC2548&newsopenstyle=original&lan=cn&device=ios&fontsize=normal&related=true&version=22.7.0#/67C0E94E4BD479965E8229A272D6A4DE\">Wind资讯</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/909f0c076f3fff78497a5c9be00e5429","relate_stocks":{".IXIC":"NASDAQ Composite"},"source_url":"https://t.wind.com.cn/mobwftweb/M/news.html?share=wechat&show=wft&shareCode=45590b8720c3be8d1069d5ef3c0d2096&code=EACEC9EC2548&newsopenstyle=original&lan=cn&device=ios&fontsize=normal&related=true&version=22.7.0#/67C0E94E4BD479965E8229A272D6A4DE","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135834316","content_text":"美联储主席鲍威尔星期五做出了遏制通货膨胀的严厉承诺。他警告说，他预计美联储将继续以一种会给美国经济带来“一些痛苦”的方式加息。在鲍威尔开始讲话后，美股跳水，纳指跌幅1%，道指大跌近200点。鲍威尔在怀俄明州杰克逊霍尔发表备受期待的年度政策讲话时重申，美联储将“强有力地使用我们的工具”来打击仍处于40多年来最高水平附近的通货膨胀。鲍威尔表示，尽管美联储已连续四次加息，总计加息2.25个百分点，但\"没有空间可以停下来或暂停\"，尽管指标利率可能处于对经济成长既不刺激也不限制的水平。他在讲话中表示:“尽管利率上升、经济增长放缓和就业市场疲软将压低通胀，但也会给家庭和企业带来一些痛苦。”“这是降低通胀的不幸代价。但不能恢复价格稳定将意味着更大的痛苦。”与此同时，有迹象显示，通胀可能已经见顶，但没有显示出任何明显的下降迹象。消费者价格指数和个人消费支出价格指数这两个备受关注的指标显示，7月份物价变化不大，主要原因是能源成本大幅下降。与此同时，其他经济领域正在放缓。尤其是房地产市场正在迅速下滑，经济学家预计，过去一年半大幅增加的招聘可能会降温。然而，鲍威尔警告说，美联储关注的不仅仅是一两个月的数据，它将继续推进，直到通胀率下降到接近2%的长期目标。他说:“我们有目的地将我们的政策立场调整到一个足以限制通胀回到2%的水平。”展望未来，他补充说，“恢复物价稳定可能需要在一段时间内保持限制性的政策立场。历史记录对过早放松政策提出了强烈警告。”尽管包括鲍威尔在内的美联储领导人经常利用杰克逊霍尔研讨会的机会概述广泛的政策转变，但他在开场白中指出，他的“讲话将更简短，我的重点将更狭窄，我要传达的信息将更直接。”他说:“物价稳定是美联储的责任，也是我们经济的基石。”“没有价格稳定，经济就不适合任何人。”美联储正在用过去的经验教训作为当前政策的指引。鲍威尔特别指出，40年前的通货膨胀为当前的美联储提供了三个教训:像美联储这样的中央银行有责任管理通货膨胀，预期至关重要，以及“我们必须坚持下去，直到工作完成。”鲍威尔指出，上世纪70年代美联储未能采取有力行动，导致高通胀预期长期存在，从而导致上世纪80年代初的严厉加息。当时，时任美联储主席的沃尔克(Paul Volcker)将经济拖入衰退，以遏制通胀。虽然鲍威尔一再表示，他不认为美国经济衰退是不可避免的结果，但他指出，如果美联储要避免沃尔克式的结果，管理预期是至关重要的。鲍威尔说，在上世纪80年代初，\"为了遏制高通胀，并开始将通胀降至较低且稳定的水平，最终需要一段长时间的非常严格的货币政策，而这一过程直到去年春天才成为常态。\"“我们的目标是通过现在采取坚定行动来避免这种结果。”他说:“当然，目前几乎所有人都在关注通胀，这凸显了今天的一种特殊风险:当前一轮高通胀持续的时间越长，通胀上升预期变得更加根深蒂固的可能性就越大。”","news_type":1,"symbols_score_info":{".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":6025,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9990378773,"gmtCreate":1660299337798,"gmtModify":1676533446797,"author":{"id":"3575790689237418","authorId":"3575790689237418","name":"熊也赚钱","avatar":"https://static.tigerbbs.com/c8904569094dabce050ca2c86654aba6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575790689237418","idStr":"3575790689237418"},"themes":[],"title":"","htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9990378773","repostId":"2258579460","repostType":4,"isVote":1,"tweetType":1,"viewCount":6119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9903200020,"gmtCreate":1659034713760,"gmtModify":1676536246182,"author":{"id":"3575790689237418","authorId":"3575790689237418","name":"熊也赚钱","avatar":"https://static.tigerbbs.com/c8904569094dabce050ca2c86654aba6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575790689237418","idStr":"3575790689237418"},"themes":[],"title":"","htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9903200020","repostId":"1191917445","repostType":4,"isVote":1,"tweetType":1,"viewCount":7253,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180022770,"gmtCreate":1623165326490,"gmtModify":1704197550109,"author":{"id":"3575790689237418","authorId":"3575790689237418","name":"熊也赚钱","avatar":"https://static.tigerbbs.com/c8904569094dabce050ca2c86654aba6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575790689237418","idStr":"3575790689237418"},"themes":[],"title":"","htmlText":"wwa","listText":"wwa","text":"wwa","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/180022770","repostId":"1180401775","repostType":2,"repost":{"id":"1180401775","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":1623160529,"share":"https://ttm.financial/m/news/1180401775?lang=en_US&edition=fundamental","pubTime":"2021-06-08 21:55","market":"us","language":"zh","title":"[Unusual Movement] Stocks favored by retail investors surge, with GameStation rising over 20%.","url":"https://stock-news.laohu8.com/highlight/detail?id=1180401775","media":"老虎资讯综合","summary":"6月8日，散户抱团股集体发力拉升，游戏驿站涨超20%，高斯电子涨超12%，黑莓涨超7%，AMC院线涨近6%。周一，美国证券交易委员会(SEC)表示，正在密切关注MEME股票的疯狂交易，以确保市场稳定。","content":"<p>On June 8, stocks favored by retail investors collectively rallied.<a href=\"https://laohu8.com/S/GME\">Game Station</a>It rose more than 20%.<a href=\"https://laohu8.com/S/KOSS\">Gaussian electronics</a>It rose by over 12%.<a href=\"https://laohu8.com/S/BBRY\">Blackberry</a>It rose more than 7%.<a href=\"https://laohu8.com/S/AMC\">AMC Cinemas</a>It rose nearly 6%.</p><p>On Monday, the U.S. Securities and Exchange Commission (SEC) said it was closely monitoring the frenzied trading of MEME stocks to ensure market stability. Some securities firms have already taken action to raise the margin requirements for AMC Cinemas and Game Station to 100%, which means investors need to purchase these two securities with cash.</p><p><img src=\"https://static.tigerbbs.com/98e0075756d5292a3b8bcd86e1085893\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></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>[Unusual Movement] Stocks favored by retail investors surge, with GameStation rising over 20%.</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\">\n[Unusual Movement] Stocks favored by retail investors surge, with GameStation rising over 20%.\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\">2021-06-08 21:55</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On June 8, stocks favored by retail investors collectively rallied.<a href=\"https://laohu8.com/S/GME\">Game Station</a>It rose more than 20%.<a href=\"https://laohu8.com/S/KOSS\">Gaussian electronics</a>It rose by over 12%.<a href=\"https://laohu8.com/S/BBRY\">Blackberry</a>It rose more than 7%.<a href=\"https://laohu8.com/S/AMC\">AMC Cinemas</a>It rose nearly 6%.</p><p>On Monday, the U.S. Securities and Exchange Commission (SEC) said it was closely monitoring the frenzied trading of MEME stocks to ensure market stability. Some securities firms have already taken action to raise the margin requirements for AMC Cinemas and Game Station to 100%, which means investors need to purchase these two securities with cash.</p><p><img src=\"https://static.tigerbbs.com/98e0075756d5292a3b8bcd86e1085893\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2946b9cd4befcf808691bc00a8ecb1be","relate_stocks":{"GME":"游戏驿站"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180401775","content_text":"6月8日，散户抱团股集体发力拉升，游戏驿站涨超20%，高斯电子涨超12%，黑莓涨超7%，AMC院线涨近6%。周一，美国证券交易委员会(SEC)表示，正在密切关注MEME股票的疯狂交易，以确保市场稳定。有券商已经采取行动，将AMC院线和游戏驿站的保证金要求提高到100%，这意味着投资者需要用现金购买这两只证券。","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":6617,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350823189,"gmtCreate":1616189278541,"gmtModify":1704791984933,"author":{"id":"3575790689237418","authorId":"3575790689237418","name":"熊也赚钱","avatar":"https://static.tigerbbs.com/c8904569094dabce050ca2c86654aba6","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575790689237418","idStr":"3575790689237418"},"themes":[],"title":"","htmlText":"ready to fly","listText":"ready to fly","text":"ready to fly","images":[{"img":"https://static.tigerbbs.com/a14071b7bd6a9fc90bb4d98c5cb46176","width":"1125","height":"2523"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/350823189","isVote":1,"tweetType":1,"viewCount":6419,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}