前期报告提要与市场聚焦前期观点回顾:泛红利资产框架:市场底至盈利底期间,首选“增长型红利”。美国就业市场放缓和经济走弱的迹象已明显在多项数据中显现,考虑到特朗普政府对大规模进口关税反复无常对经济的伤害,我们认为美国就业市场的情况比市场预期的要更加“糟糕”,后续建议警惕就业市场继续走弱的风险。若出口数据或预期走弱,新一轮“波动率”上行周期可能开启。当下市场聚焦:1、最新出口数据表现如何?如何看待后续...
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