摩根士丹利：考慮更多資產多元化的一個主要原因是股債相關性轉正

環球市場播報

2025/01/22

　　摩根士丹利財富管理公司在一份報告中表示，考慮更多資產多元化的一個主要原因是股票和債券之間的相關性已經轉為正值：更高的收益率——從而更低的債券價格——伴隨着更低的股價。

　　報告稱：「這是2022年令人痛苦的動態，當時大多數投資者在其投資組合的股票和債券方面都經歷了損失。」摩根士丹利財富管理公司表示，通常而言，股票和債券呈負相關，價格相互反向變動。

　　報告指出，由60%的股票和40%的債券組成的投資組合的價值現在正受到挑戰，「最近當10年期美國國債收益率超過4.5%（長期利率的公允價值）時，相關性發生了翻轉，名義GDP可能難以覆蓋資本成本。」

海量資訊、精準解讀，盡在新浪財經APP

責任編輯：陳鈺嘉

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熱議股票

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href=\"https://laohu8.com/S/MS\">摩根士丹利</a></span><span></span>財富管理公司在一份報告中表示，考慮更多資產多元化的一個主要原因是股票和債券之間的相關性已經轉為正值：更高的收益率——從而更低的債券價格——伴隨着更低的股價。</p>\n<p>　　報告稱：「這是2022年令人痛苦的動態，當時大多數投資者在其投資組合的股票和債券方面都經歷了損失。」摩根士丹利財富管理公司表示，通常而言，股票和債券呈負相關，價格相互反向變動。</p>\n<p>　　報告指出，由60%的股票和40%的債券組成的投資組合的價值現在正受到挑戰，「最近當10年期美國國債收益率超過4.5%（長期利率的公允價值）時，相關性發生了翻轉，名義GDP可能難以覆蓋資本成本。」</p>\n<div></div>\n<div>\n<div><img src=\"\"/></div>\n<div>海量資訊、精準解讀，盡在新浪財經APP</div>\n</div>\n<p>責任編輯：陳鈺嘉 </p>\n</div></body></html>\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://finance.sina.com.cn/stock/usstock/c/2025-01-22/doc-inefvqqa8898419.shtml\">環球市場播報</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2111349929.HKD","symbol_name":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (HKD) 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