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2022-11-16 23:13在late expansion中，equity returns不是peak嗎？先行指標(biāo)
所屬：CFA Level III > Capital Market Expectations 視頻位置 相關(guān)試題
來(lái)源： 視頻位置 相關(guān)試題
1個(gè)回答
Johnny助教
2022-11-17 15:42
該回答已被題主采納
同學(xué)你好，在late expansion階段，市場(chǎng)會(huì)有以下?tīng)顩r：
Interest rates are typically rising as monetary policy becomes restrictive. Bond yields are usually rising, more slowly than short rates, so the yield curve continues to flatten. Private sector borrowing puts pressure on credit markets. Stock markets often rise but may be volatile as nervous investors endeavor to detect signs of looming deceleration. Cyclical assets may underperform while inflation hedges such as commodities outperform.
由于貨幣政策開(kāi)始收緊，利率會(huì)提高。債券收益率會(huì)提升，但是提升速度慢于短期利率，收益率曲線會(huì)變平坦。私人借貸提升。股票市場(chǎng)會(huì)上漲，但是波動(dòng)率會(huì)上升。周期性資產(chǎn)表現(xiàn)不佳，而諸如大宗商品之類的通脹抵御性資產(chǎn)會(huì)表現(xiàn)較好。
根據(jù)原版書(shū)上的內(nèi)容可以看出在late expansion階段，equity return會(huì)上漲，但是波動(dòng)率較高
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