民生首席周君芝 | 下半年宏觀定價錨：大通脹趨緩，大財政趨穩 #格隆彙集結令·2022夏季展望
022上半年海外經濟飽受高通脹和低復甦的影響，美元緊縮更令投資市場反覆折磨。反觀國內經濟，上半年面對地產投資壓縮和疫情擾動的壓力，我們果斷應對、及時調控、實施大財政穩增長，疊加供應鏈優勢帶來的出口超預期韌性增長，上半年取得了GDP同比增2.5% 二季度實現正增長的好成績。面對β影響因素遠大於ɑ的宏觀投資環境，宏觀研究和宏觀擇時也變得尤為重要，找對宏觀定價錨又是其中關鍵一步。
正如民生證券首席宏觀分析師周君芝所總結的：今年國內外最大的宏觀主線分別是大通脹和大財政。上半年海外經歷大通脹尖峯時刻，國內經歷大財政擴張時期。預計下半年海外大通脹趨緩，國內大財政趨穩。下半年資產市場定價邏輯有別於上半年。“尋找下半年的宏觀定價錨”，我們可以從以下幾個要點展開：
1、上半年宏觀經濟的主線是哪些？
2、下半年海外及國內宏觀研判的條件和方向；
3、尋找到2022下半年的宏觀定價錨是怎樣的？
4、根據定價錨和定價新邏輯思考下半年的經濟板塊機會有哪些？
關於以上問題，格隆匯研究院特邀周君芝老師於7月23日（週六）上午10:00與您一起探討“尋找2022下半年的宏觀定價錨”！
直播主題：
下半年宏觀定價錨：
大通脹趨緩，大財政趨穩
重磅嘉賓：
周君芝，民生證券首席宏觀分析師。浙江大學經濟學博士，浙江大學校外碩士生導師。擁有8年賣方宏觀從業經驗，歷任廣發證券資深宏觀分析師，方正證券首席宏觀分析師。曾作為團隊核心成員於2017-2020年連續四年榮獲“新財富”宏觀第一名，2017-2020年連續四年榮獲賣方分析師“水晶球”獎第一名。
直播看點：
1、上半年宏觀經濟主線；
2、下半年海外大通脹趨緩，國內大財政趨穩；
3、下半年主要經濟板塊預測；
4、尋找2022下半年的宏觀定價錨。
直播時間：
2022年7月23日上午10:00
觀看直播：
觀看直播請至格隆匯APP直播間& 格隆匯APP微信視頻號直播間
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