观点金融市场

Markets are banking on the ‘Bliss trade’
市场过于依赖“幸福交易”

A belief in resilience underwritten by big lasting state support is keeping stocks high
戈皮纳特:股市高位反映了市场对“强有力、持久的国家支持”提供的韧性的信念,一旦市场意识到这种支持不复存在,股市和债市将同步出现抛售。

The writer isa professor of economics at Harvard University and was first deputy managing director and chief economist of the IMFThe disconnect between the historic disruption to energy supplies — with the Strait of Hormuz closed and Brent crude hovering around $100 a barrel — and the S&P 500 reaching new records is stark. AI optimism and strong earnings are clearly providing a strong tailwind. Even so, risk is mostly being disregarded as the Wall Street fear gauge, the Vix, has barely increased relative to its historical average.

作者是哈佛大学(Harvard University)manbetx20客户端下载 学教授,曾任国际货币基金组织(IMF)第一副总裁、首席manbetx20客户端下载 学家。

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