中信证券:站在全球敞口视角去评价基本面随着未来更多上市公司从国内敞口转向全球敞口,尤其是在制造环节,中国企业不断将份额转化为定价权,传统的基于国内库存周期的经济分析已经不能全面刻画市场基本面状态。复盘本轮行情,无论是成长还是价值,涨得多的品种大多还是跟出海相关,或者深度绑定海外供应链。未来我们评价基本面和流动性是否匹配,要站在全球敞口而不是国内经济周期的视角去全面评估。除过去4周有明显的情绪溢价,...
Source Link中信证券:站在全球敞口视角去评价基本面随着未来更多上市公司从国内敞口转向全球敞口,尤其是在制造环节,中国企业不断将份额转化为定价权,传统的基于国内库存周期的经济分析已经不能全面刻画市场基本面状态。复盘本轮行情,无论是成长还是价值,涨得多的品种大多还是跟出海相关,或者深度绑定海外供应链。未来我们评价基本面和流动性是否匹配,要站在全球敞口而不是国内经济周期的视角去全面评估。除过去4周有明显的情绪溢价,...
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