美股:走向泡沫的盛宴,是狂欢还是跑路?

海豚投研
Aug 11, 2025

大家好,我是海豚君!经历了非农就业数据大幅下修带来的市场恐慌之后,马上又启动了新一轮的上涨,接下来的市场要怎么观察,海豚君提供一下最新的观察:一、TGA 补充蜗牛爬坡,冲击还在前方?连续两周的 TGA 账户补充资金来源很明显:要么是消耗银行准备金余额,要么是逆回购余额。目前 TGA 账户回血速度还是太慢,要实现 9 月底 8500 亿美金的余额,基本要比 8 月 6 号周快八倍的速度才有可能。因此...

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