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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":636464615,"tweetId":"636464615","gmtCreate":1646052707938,"gmtModify":1646052862184,"author":{"id":3582185625671527,"idStr":"3582185625671527","authorId":3582185625671527,"authorIdStr":"3582185625671527","name":"scout7211","avatar":"https://static.tigerbbs.com/3428eeb8a156084753e7fa0ee13d6ac6","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":24,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","extraTitle":"","html":"<html><head></head><body>q</body></html>","htmlText":"<html><head></head><body>q</body></html>","text":"q","highlighted":2,"essential":1,"paper":1,"likeSize":1,"commentSize":14,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/636464615","repostId":1178829058,"repostType":4,"repost":{"id":"1178829058","kind":"news","pubTimestamp":1646035562,"share":"https://www.laohunote.com/m/news/1178829058?lang=zh_CN&edition=full","pubTime":"2022-02-28 16:06","market":"us","language":"en","title":"Prepare for a Bear Market in 2022: Bank of America<blockquote>为 2022 年熊市做好准备：美国银行</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1178829058","media":"Barrons","summary":"The recent recovery in stocks may be short-lived, according to Bank of America Securities, which see","content":"<html><head></head><body>The recent recovery in stocks may be short-lived, according to Bank of America Securities, which sees a bear market setting in through 2022 and suggests that investors tilt to cash and commodities.<blockquote><html><head></head><body>美国银行证券公司表示，最近股市的复苏可能是短暂的，该公司预计 2022 年将出现熊市，并建议投资者倾向于现金和大宗商品。</body></html></blockquote>BofA laid out a witches’ brew of negative trends, signals, and data points in a note published Thursday by chief investment strategist Michael Hartnett and his team. “If it walks like a bear…” it probably is, they write.<blockquote>美国银行在首席投资策略师迈克尔-哈特内特（Michael Hartnett）及其团队周四发布的一份报告中，列出了一系列负面趋势、信号和数据点。“如果它像熊一样走路.” 他们写道，很可能就是这样。</blockquote>More than 75% of stocks in the Nasdaq Composite Index and 51% of S&amp;P 500 stocks are already in a bear market—down more than 20% from peak prices, Hartnett notes. The outlook is worsening with geopolitical risks exacerbating potential for inflation, higher commodity prices, and “shocks” to growth.<blockquote>哈特内特指出，纳斯达克综合指数中超过 75% 的股票和 51% 的标普500股票已经处于熊市，比峰值价格下降了 20% 以上。随着地缘政治风险加剧通货膨胀、大宗商品价格上涨和增长 “冲击 ”的可能性，前景正在恶化。</blockquote>Negative real interest rates, adjusted for inflation, are another ominous sign. Going back 250 years, negative rates have been “synonymous” with crashes, panics, and wars, he notes.<blockquote>经通货膨胀调整后的负实际利率是另一个不祥之兆。他指出，追溯到 250 年前，负利率一直是崩溃、恐慌和战争的 “代名词”。</blockquote>Hartnett also calls out signs of cracking in retail and home-building, pointing out that Home Depot (ticker: HD) stock is down 29% from its peak while builders such as Toll Brothers (TOL) are off 38%. The declines imply cracks in consumer spending, which rarely happens outside recessions, he notes. And the Federal Reserve, far from riding to the rescue with market stimulus, is tightening the noose, planning to raise rates and withdraw liquidity to try to quell inflation.<blockquote>哈奈特还评级了零售和住宅建筑业出现裂痕的迹象，指出家得宝（股票代码：HD）的股价较峰值下跌了 29%，而 Toll Brothers (TOL) 等建筑商则下跌了 38%。他指出，这种下降意味着消费者支出出现裂缝，而这种情况在经济衰退之外很少发生。美联储非但没有通过市场刺激来救援，反而正在收紧绞索，计划加息并撤回流动性，试图平息通胀。</blockquote>“We’re bearish,” Hartnett writes, adding that inflation shocks will ripple through to rate hikes and lower growth, resulting in “negative returns” for corporate bonds and stocks in 2022.<blockquote>哈特内特写道：“我们持悲观态度，”他补充说，通胀冲击将波及加息和经济增长放缓，导致 2022 年公司债券和股票出现 “负回报”。</blockquote>Russia’s invasion of Ukraine is only making a tough macro outlook even worse. The invasion will exacerbate inflation, which will force central banks to tighten monetary policies faster, according to Hartnett. And Fed tightening isn’t likely to end until we see a “recession shock,” he says. “Put another way, Russia/Ukraine increases risk of stagflation and ‘policy mistake,&#39;” he adds.<blockquote>俄罗斯入侵乌克兰只会让严峻的宏观前景雪上加霜。哈特内特表示，入侵将加剧通货膨胀，这将迫使央行更快地收紧货币政策。他说，在我们看到 “衰退冲击 ”之前，美联储的紧缩政策不太可能结束。“换句话说，俄罗斯/乌克兰增加了滞胀和'政策失误'的风险，”他补充道。</blockquote>If we are headed for the dreaded stagflation of the 1970s, investors should lighten up on tech stocks and tilt to cash and commodities, Hartnett advises. Of all the major asset classes, commodities was the only one to produce positive returns during the 1973-74 stagflation shock, triggered by the OPEC oil embargo.<blockquote>哈特内特建议，如果我们正走向 20 世纪 70 年代可怕的滞胀，投资者应该减持科技股，转而投资现金和大宗商品。在所有主要资产类别中，大宗商品是1973-74年由石油输出国组织石油禁运引发的滞胀冲击中唯一产生正回报的资产类别。</blockquote>Other asset classes that should hold up relatively well include Treasury inflation-protected securities, or TIPS, small-cap value stocks and emerging markets (the latter because of their links to commodities).<blockquote>其他表现相对较好的资产类别包括国债通胀保值证券（TIPS）、小型价值股和新兴市场（后者是因为它们与大宗商品有联系）。</blockquote>Tactical bets may also pay off, for instance, when the Nasdaq falls at least 20% below its 200-day moving average. The Nasdaq was down 15% from those averages on Thursday, which may have helped trigger its bounce.<blockquote>例如，当纳斯达克低于 200 天移动平均线至少 20% 时，战术押注也可能获得回报。周四，纳斯达克指数较平均水平下跌 15%，这可能有助于引发其反弹。</blockquote>Another buy signal would be when at least 80% of global equity indexes fall below their 50-day and 200-day moving averages. Currently, 31% of indexes are below those averages.<blockquote>另一个买入信号是当至少 80% 的全球股票指数跌破 50 天和 200 天移动平均线时。目前，31%的指数低于这些平均水平。</blockquote>At some point, market capitulation will settle in—the market will be so washed out that it will be time to buy. But we aren’t there yet in stocks, Hartnett writes, and the Fed hasn’t even begun to tighten. “Portfolios should position for stagflation and dollar debasement,” he says.<blockquote>在某个时候，市场投降将会稳定下来——市场将被洗劫一空，以至于是时候买入了。哈特内特写道，但我们还没有达到股市的水平，美联储甚至还没有开始收紧货币政策。“他说：”投资组合应该为滞胀和美元贬值做好准备。</blockquote>While this outlook seems quite depressing, it isn’t assured. For all the negatives, one could find counterpoints, including a strong U.S. economy, lower energy intensity in the economy than in the 1970s, and productivity gains arising from technology and globalization.<blockquote>虽然这种前景看起来相当令人沮丧，但并不能保证。对于所有的负面影响，人们可以找到对立面，包括强劲的美国经济、经济中的能源强度低于20世纪70年代，以及技术和全球化带来的生产率提高。</blockquote>Stock multiples also have come down and many large-cap growth companies have fallen so much that they’ve given up their pandemic gains, including Walt Disney (DIS), Salesforce.com (CRM), Netflix (NFLX), PayPal Holdings (PYPL), and Meta Platforms (FB).<blockquote>股票市盈率也有所下降，许多大型成长型公司跌幅如此之大，以至于放弃了大流行病带来的收益，包括华特迪斯尼（DIS）、Salesforce.com（CRM）、Netflix（NFLX）、PayPal控股公司（PYPL）和 Meta Platforms（FB）。</blockquote>Whether they’re truly bargains depends on one’s outlook: If the Fed can thread the needle with its monetary policies and the geopolitical tensions calm down, the markets should rise modestly as the economy slows over the next year, but doesn’t fall into a recession. Conversely, if we head into another ’70s era of stagflation—high inflation and stagnant growth—it may be wise to seek shelter in cash and commodities. The bell bottoms remain optional.<blockquote>它们是否真的很便宜取决于人们的前景： 如果美联储能够用货币政策穿针引线，地缘政治紧张局势平静下来，随着明年经济放缓，市场应该会小幅上涨，但不会陷入衰退。相反，如果我们进入另一个 70 年代的滞胀时代--高通胀和停滞增长--寻求现金和大宗商品的庇护可能是明智的。钟形底部仍然是可选的。</blockquote></body></html><blockquote></blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Prepare for a Bear Market in 2022: Bank of America<blockquote>为 2022 年熊市做好准备：美国银行</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPrepare for a Bear Market in 2022: Bank of America<blockquote>为 2022 年熊市做好准备：美国银行</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2022-02-28 16:06\n\n</h4>\n</header>\n<article>\n<html><head></head><body>The recent recovery in stocks may be short-lived, according to Bank of America Securities, which sees a bear market setting in through 2022 and suggests that investors tilt to cash and commodities.<blockquote><html><head></head><body>美国银行证券公司表示，最近股市的复苏可能是短暂的，该公司预计 2022 年将出现熊市，并建议投资者倾向于现金和大宗商品。</body></html></blockquote>BofA laid out a witches’ brew of negative trends, signals, and data points in a note published Thursday by chief investment strategist Michael Hartnett and his team. “If it walks like a bear…” it probably is, they write.<blockquote>美国银行在首席投资策略师迈克尔-哈特内特（Michael Hartnett）及其团队周四发布的一份报告中，列出了一系列负面趋势、信号和数据点。“如果它像熊一样走路.” 他们写道，很可能就是这样。</blockquote>More than 75% of stocks in the Nasdaq Composite Index and 51% of S&amp;P 500 stocks are already in a bear market—down more than 20% from peak prices, Hartnett notes. The outlook is worsening with geopolitical risks exacerbating potential for inflation, higher commodity prices, and “shocks” to growth.<blockquote>哈特内特指出，纳斯达克综合指数中超过 75% 的股票和 51% 的标普500股票已经处于熊市，比峰值价格下降了 20% 以上。随着地缘政治风险加剧通货膨胀、大宗商品价格上涨和增长 “冲击 ”的可能性，前景正在恶化。</blockquote>Negative real interest rates, adjusted for inflation, are another ominous sign. Going back 250 years, negative rates have been “synonymous” with crashes, panics, and wars, he notes.<blockquote>经通货膨胀调整后的负实际利率是另一个不祥之兆。他指出，追溯到 250 年前，负利率一直是崩溃、恐慌和战争的 “代名词”。</blockquote>Hartnett also calls out signs of cracking in retail and home-building, pointing out that Home Depot (ticker: HD) stock is down 29% from its peak while builders such as Toll Brothers (TOL) are off 38%. The declines imply cracks in consumer spending, which rarely happens outside recessions, he notes. And the Federal Reserve, far from riding to the rescue with market stimulus, is tightening the noose, planning to raise rates and withdraw liquidity to try to quell inflation.<blockquote>哈奈特还评级了零售和住宅建筑业出现裂痕的迹象，指出家得宝（股票代码：HD）的股价较峰值下跌了 29%，而 Toll Brothers (TOL) 等建筑商则下跌了 38%。他指出，这种下降意味着消费者支出出现裂缝，而这种情况在经济衰退之外很少发生。美联储非但没有通过市场刺激来救援，反而正在收紧绞索，计划加息并撤回流动性，试图平息通胀。</blockquote>“We’re bearish,” Hartnett writes, adding that inflation shocks will ripple through to rate hikes and lower growth, resulting in “negative returns” for corporate bonds and stocks in 2022.<blockquote>哈特内特写道：“我们持悲观态度，”他补充说，通胀冲击将波及加息和经济增长放缓，导致 2022 年公司债券和股票出现 “负回报”。</blockquote>Russia’s invasion of Ukraine is only making a tough macro outlook even worse. The invasion will exacerbate inflation, which will force central banks to tighten monetary policies faster, according to Hartnett. And Fed tightening isn’t likely to end until we see a “recession shock,” he says. “Put another way, Russia/Ukraine increases risk of stagflation and ‘policy mistake,&#39;” he adds.<blockquote>俄罗斯入侵乌克兰只会让严峻的宏观前景雪上加霜。哈特内特表示，入侵将加剧通货膨胀，这将迫使央行更快地收紧货币政策。他说，在我们看到 “衰退冲击 ”之前，美联储的紧缩政策不太可能结束。“换句话说，俄罗斯/乌克兰增加了滞胀和'政策失误'的风险，”他补充道。</blockquote>If we are headed for the dreaded stagflation of the 1970s, investors should lighten up on tech stocks and tilt to cash and commodities, Hartnett advises. Of all the major asset classes, commodities was the only one to produce positive returns during the 1973-74 stagflation shock, triggered by the OPEC oil embargo.<blockquote>哈特内特建议，如果我们正走向 20 世纪 70 年代可怕的滞胀，投资者应该减持科技股，转而投资现金和大宗商品。在所有主要资产类别中，大宗商品是1973-74年由石油输出国组织石油禁运引发的滞胀冲击中唯一产生正回报的资产类别。</blockquote>Other asset classes that should hold up relatively well include Treasury inflation-protected securities, or TIPS, small-cap value stocks and emerging markets (the latter because of their links to commodities).<blockquote>其他表现相对较好的资产类别包括国债通胀保值证券（TIPS）、小型价值股和新兴市场（后者是因为它们与大宗商品有联系）。</blockquote>Tactical bets may also pay off, for instance, when the Nasdaq falls at least 20% below its 200-day moving average. The Nasdaq was down 15% from those averages on Thursday, which may have helped trigger its bounce.<blockquote>例如，当纳斯达克低于 200 天移动平均线至少 20% 时，战术押注也可能获得回报。周四，纳斯达克指数较平均水平下跌 15%，这可能有助于引发其反弹。</blockquote>Another buy signal would be when at least 80% of global equity indexes fall below their 50-day and 200-day moving averages. Currently, 31% of indexes are below those averages.<blockquote>另一个买入信号是当至少 80% 的全球股票指数跌破 50 天和 200 天移动平均线时。目前，31%的指数低于这些平均水平。</blockquote>At some point, market capitulation will settle in—the market will be so washed out that it will be time to buy. But we aren’t there yet in stocks, Hartnett writes, and the Fed hasn’t even begun to tighten. “Portfolios should position for stagflation and dollar debasement,” he says.<blockquote>在某个时候，市场投降将会稳定下来——市场将被洗劫一空，以至于是时候买入了。哈特内特写道，但我们还没有达到股市的水平，美联储甚至还没有开始收紧货币政策。“他说：”投资组合应该为滞胀和美元贬值做好准备。</blockquote>While this outlook seems quite depressing, it isn’t assured. For all the negatives, one could find counterpoints, including a strong U.S. economy, lower energy intensity in the economy than in the 1970s, and productivity gains arising from technology and globalization.<blockquote>虽然这种前景看起来相当令人沮丧，但并不能保证。对于所有的负面影响，人们可以找到对立面，包括强劲的美国经济、经济中的能源强度低于20世纪70年代，以及技术和全球化带来的生产率提高。</blockquote>Stock multiples also have come down and many large-cap growth companies have fallen so much that they’ve given up their pandemic gains, including Walt Disney (DIS), Salesforce.com (CRM), Netflix (NFLX), PayPal Holdings (PYPL), and Meta Platforms (FB).<blockquote>股票市盈率也有所下降，许多大型成长型公司跌幅如此之大，以至于放弃了大流行病带来的收益，包括华特迪斯尼（DIS）、Salesforce.com（CRM）、Netflix（NFLX）、PayPal控股公司（PYPL）和 Meta Platforms（FB）。</blockquote>Whether they’re truly bargains depends on one’s outlook: If the Fed can thread the needle with its monetary policies and the geopolitical tensions calm down, the markets should rise modestly as the economy slows over the next year, but doesn’t fall into a recession. Conversely, if we head into another ’70s era of stagflation—high inflation and stagnant growth—it may be wise to seek shelter in cash and commodities. The bell bottoms remain optional.<blockquote>它们是否真的很便宜取决于人们的前景： 如果美联储能够用货币政策穿针引线，地缘政治紧张局势平静下来，随着明年经济放缓，市场应该会小幅上涨，但不会陷入衰退。相反，如果我们进入另一个 70 年代的滞胀时代--高通胀和停滞增长--寻求现金和大宗商品的庇护可能是明智的。钟形底部仍然是可选的。</blockquote></body></html><blockquote></blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/stocks-bear-market-51645814386?mod=hp_LATEST\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/stocks-bear-market-51645814386?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178829058","content_text":"The recent recovery in stocks may be short-lived, according to Bank of America Securities, which sees a bear market setting in through 2022 and suggests that investors tilt to cash and commodities.BofA laid out a witches’ brew of negative trends, signals, and data points in a note published Thursday by chief investment strategist Michael Hartnett and his team. “If it walks like a bear…” it probably is, they write.More than 75% of stocks in the Nasdaq Composite Index and 51% of S&P 500 stocks are already in a bear market—down more than 20% from peak prices, Hartnett notes. The outlook is worsening with geopolitical risks exacerbating potential for inflation, higher commodity prices, and “shocks” to growth.Negative real interest rates, adjusted for inflation, are another ominous sign. Going back 250 years, negative rates have been “synonymous” with crashes, panics, and wars, he notes.Hartnett also calls out signs of cracking in retail and home-building, pointing out that Home Depot (ticker: HD) stock is down 29% from its peak while builders such as Toll Brothers (TOL) are off 38%. The declines imply cracks in consumer spending, which rarely happens outside recessions, he notes. And the Federal Reserve, far from riding to the rescue with market stimulus, is tightening the noose, planning to raise rates and withdraw liquidity to try to quell inflation.“We’re bearish,” Hartnett writes, adding that inflation shocks will ripple through to rate hikes and lower growth, resulting in “negative returns” for corporate bonds and stocks in 2022.Russia’s invasion of Ukraine is only making a tough macro outlook even worse. The invasion will exacerbate inflation, which will force central banks to tighten monetary policies faster, according to Hartnett. And Fed tightening isn’t likely to end until we see a “recession shock,” he says. “Put another way, Russia/Ukraine increases risk of stagflation and ‘policy mistake,'” he adds.If we are headed for the dreaded stagflation of the 1970s, investors should lighten up on tech stocks and tilt to cash and commodities, Hartnett advises. Of all the major asset classes, commodities was the only one to produce positive returns during the 1973-74 stagflation shock, triggered by the OPEC oil embargo.Other asset classes that should hold up relatively well include Treasury inflation-protected securities, or TIPS, small-cap value stocks and emerging markets (the latter because of their links to commodities).Tactical bets may also pay off, for instance, when the Nasdaq falls at least 20% below its 200-day moving average. The Nasdaq was down 15% from those averages on Thursday, which may have helped trigger its bounce.Another buy signal would be when at least 80% of global equity indexes fall below their 50-day and 200-day moving averages. Currently, 31% of indexes are below those averages.At some point, market capitulation will settle in—the market will be so washed out that it will be time to buy. But we aren’t there yet in stocks, Hartnett writes, and the Fed hasn’t even begun to tighten. “Portfolios should position for stagflation and dollar debasement,” he says.While this outlook seems quite depressing, it isn’t assured. For all the negatives, one could find counterpoints, including a strong U.S. economy, lower energy intensity in the economy than in the 1970s, and productivity gains arising from technology and globalization.Stock multiples also have come down and many large-cap growth companies have fallen so much that they’ve given up their pandemic gains, including Walt Disney (DIS), Salesforce.com (CRM), Netflix (NFLX), PayPal Holdings (PYPL), and Meta Platforms (FB).Whether they’re truly bargains depends on one’s outlook: If the Fed can thread the needle with its monetary policies and the geopolitical tensions calm down, the markets should rise modestly as the economy slows over the next year, but doesn’t fall into a recession. Conversely, if we head into another ’70s era of stagflation—high inflation and stagnant growth—it may be wise to seek shelter in cash and commodities. The bell bottoms remain optional.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1377,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":1,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/636464615"}