A股策略周报:从货币反面到产业叙事

国金证券
Feb 01

(以下内容从国金证券《A股策略周报:从货币反面到产业叙事》研报附件原文摘录)本轮有色金属的行情背后是:美元信用松动+流动性宽松预期+新增产业需求叙事,金融资本由于此前对实物资产欠配,所以在上述三个催化下快速涌入。我们是实物资产投资逻辑在国内市场最早的构建者,但在近期市场过于流行的一致预期也让我们担心一切看起来“太过容易”。本周四、周五有色金属商品和股票调整的原因则在于上述“美元信用松动+流动性宽松...

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