It took a devastating combination of the pandemic, war in Ukraine and a central banking U-turn on inflation to do it. Since the turn of the year the rules of the game in markets have been dramatically upended. Gone are those notorious acronyms Fomo (fear of missing out), Tina (there is no alternative to higher risk equities and credit) and BTD (buy the dip).
新冠疫情、乌克兰战争和中央银行在通胀问题上的180度大转弯等灾难性的因素结合在一起，促成了现在这一局面。自今年年初以来，市场的游戏规则已经被大大颠覆。那些臭名昭著的缩写Fomo（害怕错过）、Tina（除了高风险的股票和信贷，没有其他选择）和BTD（逢低买入）已经不复存在。
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