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Investors are not ready for a true shock
投资者尚未为真正的冲击做好准备

The consensus view of the impact of the Iran war on equities and bonds may well prove too sanguine
关于伊朗战争对股票和债券影响的共识观点,很可能过于乐观。

To state the obvious, war in Iran has shaken up financial markets this week. Stocks wobbled, bonds tumbled, the dollar snapped its losing streak, oil prices sprang higher and natural gas went whoosh. But investors are not bracing for disaster. Instead, it is more a case of them doing a bit of spring cleaning to their portfolios. This may well prove to be too sanguine.

不言而喻,本周伊朗战争搅动了金融市场。股市摇摆不定,债券下挫,美元止跌回升,油价跃升,天然气价格则猛然上冲。不过,投资者并未为灾难做准备;相反,更像是在对投资组合进行一番“春季大扫除”。这种看法很可能过于乐观。

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