过去三个月,顶着“去美元”和“股债汇三杀”的担忧,美股反而跑赢全球市场并再创历史新高,纳斯达克从底部反弹35%,美债利率没有进一步上冲,美元虽然维持弱势但也并未像担忧的那样持续大跌,美股和美债的资金在短暂流出后也再度流入。这一表现也与我们近期提示的主要观点一致:我们在4月8日底部附近提示,纳指估值跌到20倍P/E左右逐步具备吸引力,至少不应该再做空;在“股债汇三杀”担忧最严重的时候提示,这种担忧更...
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