YapWaiHong
2021-09-30
[微笑]
Bond Yields Are Rising. These Stocks Could Be Good Bets.<blockquote>债券收益率正在上升。这些股票可能是不错的选择。</blockquote>
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These Stocks Could Be Good Bets.<blockquote>债券收益率正在上升。这些股票可能是不错的选择。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1101702894","media":"Barrons","summary":"GE, Caterpillar, and Boeing, along with financial and energy ETFs, may be ready to rise as bond yields return to year highs.","content":"<p>Bond yields have surged, and they look poised for more gains. Financial stocks look like the best bets, with manufacturers and energy firms also looking like solid choices.</p><p><blockquote>债券收益率飙升，看起来有望进一步上涨。金融股看起来是最佳选择，制造商和能源公司看起来也是可靠的选择。</blockquote></p><p> The 10-year Treasury yield has risen to as high as 1.5% Monday after trading for as low as 1.31% last week. The Federal Reserve is expected to soon taper, or reduce, its bond purchases, which could decrease demand for bonds, lower their prices, and raise their yields. The Fed’s taper—and the slightly higher chance that it raises short-term interest rates in 2022 — isn’t currently expected to to damage economic growth.</p><p><blockquote>10年期国债收益率在上周低至1.31%后，周一升至1.5%。预计美联储将很快缩减或减少债券购买，这可能会减少债券需求、降低价格并提高收益率。目前预计美联储的缩减规模——以及2022年提高短期利率的可能性略高——不会损害经济增长。</blockquote></p><p> That’s all enabling the 10-year yield to rise, reflecting higher expectations for future economic growth demand and inflation. The yield could soon hit 1.7%—or higher. First off, it stood at 1.7% in May, just before market began pricing in the slower economic growth that the spread of the Covid-19 Delta variant brought about, writes Chris Senyek, chief investment strategist at Wolfe Research. </p><p><blockquote>所有这些都使得10年期国债收益率上升，反映出对未来经济增长需求和通胀的更高预期。收益率可能很快就会达到1.7%，甚至更高。Wolfe Research首席投资策略师Chris Senyek写道，首先，5月份该指数为1.7%，就在市场开始消化Covid-19德尔塔变异毒株蔓延带来的经济增长放缓之前。</blockquote></p><p> Secondly, the yield hit a 2021 high of 1.75% in March. With long-term inflation expectations above 2%, according to St. Louis Fed data, it’s more than conceivable that the yield can revisit that high.</p><p><blockquote>其次，收益率在3月份触及1.75%的2021年高点。根据圣路易斯联储的数据，由于长期通胀预期高于2%，收益率很可能会重新回到这一高位。</blockquote></p><p> The stocks that could benefit from such a rise are some of those most cyclical, or sensitive to the perceived short-term economic outlook.</p><p><blockquote>可能从这种上涨中受益的股票是一些最具周期性或对短期经济前景最敏感的股票。</blockquote></p><p> The S&P 500 sector most correlated with long-dated bond yields: financials. Banks comprise a large portion of the sector, and when the difference between long-dated yields and short-term interest rates increases, banks can lend at higher rates and still borrow at low rates, boosting profitability. Plus, if economic growth is expected to be fairly strong, banks can make more loans. Since 2010, the S&P 500 financials sector has had a 66% correlation with the 10-year Treasury yield, according to Wolfe Research, the highest correlation out of all sectors on the index.</p><p><blockquote>与长期债券收益率最相关的标准普尔500指数板块是金融股。银行占该行业的很大一部分，当长期收益率和短期利率之间的差异扩大时，银行可以以更高的利率放贷，同时仍以低利率借款，从而提高盈利能力。此外，如果经济增长预计相当强劲，银行可以发放更多贷款。根据Wolfe Research的数据，自2010年以来，标普500金融板块与10年期国债收益率的相关性为66%，是该指数所有板块中相关性最高的。</blockquote></p><p> While the Financial Select Sector SPDR exchange-traded fund (ticker: XLF) has already risen back to around its 2021 high, the SPDR S&P Bank ETF (KBE) needs to gain just over 3% to revisit its 2021 high, set in March, when yields had peaked.</p><p><blockquote>虽然金融精选行业SPDR交易所交易基金（股票代码：XLF）已回升至2021年高点附近，但SPDR S&P Bank ETF(KBE)需要上涨略高于3%才能重新回到3月份创下的2021年高点，当收益率达到顶峰时。</blockquote></p><p> Capital-goods manufacturers and energy companies are also among the sectors most correlated sectors with the 10-year yield. Capital-goods producers in the index, such as Caterpillar (CAT), Boeing (BA), and General Electric (GE), make more machines for there customers when economic demand rises. The Industrial Select Sector SPDR ETF (XLI), which owns those stocks, is about 4% off its 2021 high. The Energy Select Sector SPDR ETF (XLE), which owns oil producers and oil-services firms, needs to gain about 7% to get back to its year high.</p><p><blockquote>资本货物制造商和能源公司也是与10年期国债收益率最相关的行业之一。该指数中的资本货物生产商，如卡特彼勒(CAT)、波音(BA)和通用电气(GE)，在经济需求上升时为其客户生产更多机器。拥有这些股票的工业精选行业SPDR ETF(XLI)较2021年高点下跌约4%。拥有石油生产商和石油服务公司的能源精选行业SPDR ETF(XLE)需要上涨约7%才能回到年内高点。</blockquote></p><p> Rising yields could dent the stock market, but these sectors might be the best place to hide out in.</p><p><blockquote>收益率上升可能会削弱股市，但这些行业可能是最好的藏身之处。</blockquote></p><p></p>","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>Bond Yields Are Rising. These Stocks Could Be Good Bets.<blockquote>债券收益率正在上升。这些股票可能是不错的选择。</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\">\nBond Yields Are Rising. These Stocks Could Be Good Bets.<blockquote>债券收益率正在上升。这些股票可能是不错的选择。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-09-28 17:14</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Bond yields have surged, and they look poised for more gains. Financial stocks look like the best bets, with manufacturers and energy firms also looking like solid choices.</p><p><blockquote>债券收益率飙升，看起来有望进一步上涨。金融股看起来是最佳选择，制造商和能源公司看起来也是可靠的选择。</blockquote></p><p> The 10-year Treasury yield has risen to as high as 1.5% Monday after trading for as low as 1.31% last week. The Federal Reserve is expected to soon taper, or reduce, its bond purchases, which could decrease demand for bonds, lower their prices, and raise their yields. The Fed’s taper—and the slightly higher chance that it raises short-term interest rates in 2022 — isn’t currently expected to to damage economic growth.</p><p><blockquote>10年期国债收益率在上周低至1.31%后，周一升至1.5%。预计美联储将很快缩减或减少债券购买，这可能会减少债券需求、降低价格并提高收益率。目前预计美联储的缩减规模——以及2022年提高短期利率的可能性略高——不会损害经济增长。</blockquote></p><p> That’s all enabling the 10-year yield to rise, reflecting higher expectations for future economic growth demand and inflation. The yield could soon hit 1.7%—or higher. First off, it stood at 1.7% in May, just before market began pricing in the slower economic growth that the spread of the Covid-19 Delta variant brought about, writes Chris Senyek, chief investment strategist at Wolfe Research. </p><p><blockquote>所有这些都使得10年期国债收益率上升，反映出对未来经济增长需求和通胀的更高预期。收益率可能很快就会达到1.7%，甚至更高。Wolfe Research首席投资策略师Chris Senyek写道，首先，5月份该指数为1.7%，就在市场开始消化Covid-19德尔塔变异毒株蔓延带来的经济增长放缓之前。</blockquote></p><p> Secondly, the yield hit a 2021 high of 1.75% in March. With long-term inflation expectations above 2%, according to St. Louis Fed data, it’s more than conceivable that the yield can revisit that high.</p><p><blockquote>其次，收益率在3月份触及1.75%的2021年高点。根据圣路易斯联储的数据，由于长期通胀预期高于2%，收益率很可能会重新回到这一高位。</blockquote></p><p> The stocks that could benefit from such a rise are some of those most cyclical, or sensitive to the perceived short-term economic outlook.</p><p><blockquote>可能从这种上涨中受益的股票是一些最具周期性或对短期经济前景最敏感的股票。</blockquote></p><p> The S&P 500 sector most correlated with long-dated bond yields: financials. Banks comprise a large portion of the sector, and when the difference between long-dated yields and short-term interest rates increases, banks can lend at higher rates and still borrow at low rates, boosting profitability. Plus, if economic growth is expected to be fairly strong, banks can make more loans. Since 2010, the S&P 500 financials sector has had a 66% correlation with the 10-year Treasury yield, according to Wolfe Research, the highest correlation out of all sectors on the index.</p><p><blockquote>与长期债券收益率最相关的标准普尔500指数板块是金融股。银行占该行业的很大一部分，当长期收益率和短期利率之间的差异扩大时，银行可以以更高的利率放贷，同时仍以低利率借款，从而提高盈利能力。此外，如果经济增长预计相当强劲，银行可以发放更多贷款。根据Wolfe Research的数据，自2010年以来，标普500金融板块与10年期国债收益率的相关性为66%，是该指数所有板块中相关性最高的。</blockquote></p><p> While the Financial Select Sector SPDR exchange-traded fund (ticker: XLF) has already risen back to around its 2021 high, the SPDR S&P Bank ETF (KBE) needs to gain just over 3% to revisit its 2021 high, set in March, when yields had peaked.</p><p><blockquote>虽然金融精选行业SPDR交易所交易基金（股票代码：XLF）已回升至2021年高点附近，但SPDR S&P Bank ETF(KBE)需要上涨略高于3%才能重新回到3月份创下的2021年高点，当收益率达到顶峰时。</blockquote></p><p> Capital-goods manufacturers and energy companies are also among the sectors most correlated sectors with the 10-year yield. Capital-goods producers in the index, such as Caterpillar (CAT), Boeing (BA), and General Electric (GE), make more machines for there customers when economic demand rises. The Industrial Select Sector SPDR ETF (XLI), which owns those stocks, is about 4% off its 2021 high. The Energy Select Sector SPDR ETF (XLE), which owns oil producers and oil-services firms, needs to gain about 7% to get back to its year high.</p><p><blockquote>资本货物制造商和能源公司也是与10年期国债收益率最相关的行业之一。该指数中的资本货物生产商，如卡特彼勒(CAT)、波音(BA)和通用电气(GE)，在经济需求上升时为其客户生产更多机器。拥有这些股票的工业精选行业SPDR ETF(XLI)较2021年高点下跌约4%。拥有石油生产商和石油服务公司的能源精选行业SPDR ETF(XLE)需要上涨约7%才能回到年内高点。</blockquote></p><p> Rising yields could dent the stock market, but these sectors might be the best place to hide out in.</p><p><blockquote>收益率上升可能会削弱股市，但这些行业可能是最好的藏身之处。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/ge-boeing-stock-bond-51632778394?mod=hp_LATEST\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GM":"通用汽车","XLF":"金融ETF","XLI":"工业指数ETF-SPDR","BA":"波音",".DJI":"道琼斯","XLE":"SPDR能源指数ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","KBE":"银行指数ETF-SPDR KBW","CAT":"卡特彼勒"},"source_url":"https://www.barrons.com/articles/ge-boeing-stock-bond-51632778394?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101702894","content_text":"Bond yields have surged, and they look poised for more gains. Financial stocks look like the best bets, with manufacturers and energy firms also looking like solid choices.\nThe 10-year Treasury yield has risen to as high as 1.5% Monday after trading for as low as 1.31% last week. The Federal Reserve is expected to soon taper, or reduce, its bond purchases, which could decrease demand for bonds, lower their prices, and raise their yields. The Fed’s taper—and the slightly higher chance that it raises short-term interest rates in 2022 — isn’t currently expected to to damage economic growth.\nThat’s all enabling the 10-year yield to rise, reflecting higher expectations for future economic growth demand and inflation. The yield could soon hit 1.7%—or higher. First off, it stood at 1.7% in May, just before market began pricing in the slower economic growth that the spread of the Covid-19 Delta variant brought about, writes Chris Senyek, chief investment strategist at Wolfe Research. \nSecondly, the yield hit a 2021 high of 1.75% in March. With long-term inflation expectations above 2%, according to St. Louis Fed data, it’s more than conceivable that the yield can revisit that high.\nThe stocks that could benefit from such a rise are some of those most cyclical, or sensitive to the perceived short-term economic outlook.\nThe S&P 500 sector most correlated with long-dated bond yields: financials. Banks comprise a large portion of the sector, and when the difference between long-dated yields and short-term interest rates increases, banks can lend at higher rates and still borrow at low rates, boosting profitability. Plus, if economic growth is expected to be fairly strong, banks can make more loans. Since 2010, the S&P 500 financials sector has had a 66% correlation with the 10-year Treasury yield, according to Wolfe Research, the highest correlation out of all sectors on the index.\nWhile the Financial Select Sector SPDR exchange-traded fund (ticker: XLF) has already risen back to around its 2021 high, the SPDR S&P Bank ETF (KBE) needs to gain just over 3% to revisit its 2021 high, set in March, when yields had peaked.\nCapital-goods manufacturers and energy companies are also among the sectors most correlated sectors with the 10-year yield. Capital-goods producers in the index, such as Caterpillar (CAT), Boeing (BA), and General Electric (GE), make more machines for there customers when economic demand rises. The Industrial Select Sector SPDR ETF (XLI), which owns those stocks, is about 4% off its 2021 high. The Energy Select Sector SPDR ETF (XLE), which owns oil producers and oil-services firms, needs to gain about 7% to get back to its year high.\nRising yields could dent the stock market, but these sectors might be the best place to hide out in.","news_type":1,"symbols_score_info":{"BA":0.9,".DJI":0.9,"ZNmain":0.9,"GM":0.9,"XLE":0.9,"XLF":0.9,".IXIC":0.9,"XLI":0.9,"KBE":0.9,".SPX":0.9,"CAT":0.9}},"isVote":1,"tweetType":1,"viewCount":680,"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":6,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/865662137"}
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