美元黄昏,黄金归来——地缘新秩序下的A股三大主线

华尔街见闻
Feb 27

自2022年起,全球资本市场正经历一场底层逻辑的深刻重构。招商证券2月26日发布的报告指出,黄金与美元体系正发生历史性的、实质性的脱钩。这并非寻常的价格波动,而是美元作为全球核心信用载体,其赖以生存的“三支柱”(制度信用、经济生产力与军事威慑)出现结构性裂变的必然结果。随着美元从全球共享的“流动性公共品”日益被异化为实施金融制裁的“地缘武器”,全球信用体系正加速重构。在此背景下,黄金正重新凸显其...

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