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匯豐呼籲儘可能減持股票及政府債券 增持美元現金
阿思達克 08-05 09:15
匯豐分析師Max Kettner認爲今年夏季的股市升勢會痛苦地結束,建議減持股票及政府債券,並在經濟增長面臨愈來愈大的風險下增持現金。 他稱,風險資產的市場定價與該行的週期性增長指標非常不一致,認爲債券及股票都可能面臨新的壓力,將股票、高收益債券及發達市場主權債券給予「最大減持」評級,認爲在目前環境下唯一的可供選擇資產是美元現金。 他續指,市場似乎一廂情願地認爲經濟增長將靠穩以及通脹將大幅下降,從基本面來看情況只會變得更差,因該行的週期性增長指標幾乎都表明增長勢頭明顯下行。
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