458b6d98的个人主页 - 老虎社区

458b6d98

hi

IP属地：未知

9关注

247粉丝

0主题

0勋章

2021-06-11

Comment 2

抱歉，原内容已删除

2021-03-31

Pls help like and comment

抱歉，原内容已删除

2021-09-06

Need like

Is the U.S. stock market open on Labor Day?<blockquote>劳动节美股开市吗？</blockquote>

2021-04-25

Zoom and peloton good

抱歉，原内容已删除

2021-10-09

Nice

抱歉，原内容已删除

2021-05-29

Oh no

抱歉，原内容已删除

2021-05-05

No

Why is dogecoin’s price spiking? The crypto has surged 11,000% in 2021<blockquote>狗狗币价格为何飙升？2021年加密货币飙升11,000%</blockquote>

2021-03-24

Pls like & comment

抱歉，原内容已删除

2021-04-18

Nice

$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440亿美元期权今天到期：以下是将发生的变化</blockquote>

2021-03-31

Help like and comment?

抱歉，原内容已删除

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3556756933727652","uuid":"3556756933727652","gmtCreate":1593662911398,"gmtModify":1612937277545,"name":"458b6d98","pinyin":"nicsim","introduction":"","introductionEn":"","signature":"hi","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":247,"headSize":9,"tweetSize":221,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":3,"name":"书生虎","nameTw":"書生虎","represent":"努力向上","factor":"发布10条非转发主帖,其中5条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"35ec162348d5460f88c959321e554969-2","templateUuid":"35ec162348d5460f88c959321e554969","name":"宗师交易员","description":"证券或期货账户累计交易次数达到100次","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"80.17%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.18","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001}],"userBadgeCount":4,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":2,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"hot","tweets":[{"id":696041859,"gmtCreate":1640583944330,"gmtModify":1640583946639,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696041859","repostId":"1174372651","repostType":4,"isVote":1,"tweetType":1,"viewCount":3746,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698109374,"gmtCreate":1640312308524,"gmtModify":1640313673855,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Mehhh","listText":"Mehhh","text":"Mehhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698109374","repostId":"1110395878","repostType":4,"repost":{"id":"1110395878","kind":"news","pubTimestamp":1640310818,"share":"https://www.laohu8.com/m/news/1110395878?lang=zh_CN&edition=full","pubTime":"2021-12-24 09:53","market":"us","language":"en","title":"Pfizer’s Covid Pill Gets Green Light. Investors Are Starting to Pay Attention to the Stock.<blockquote>辉瑞的Covid药丸获得批准。投资者开始关注该股。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1110395878","media":"Barrons","summary":"The Covid-19 pill is here, and it couldn’t have come at a better time.\nThe pandemic grew darker over","content":"<p>The Covid-19 pill is here, and it couldn’t have come at a better time.</p><p><blockquote>新冠肺炎药丸来了，来得正是时候。</blockquote></p><p> The pandemic grew darker over the past two weeks, as the Omicron variant swept into the U.S. With most of the widely used therapies rendered useless by the variant’s mutations, and case counts quickly climbing, doctors and public health officials have been increasingly worried.</p><p><blockquote>随着奥密克戎变种席卷美国，疫情在过去两周变得更加黑暗。随着大多数广泛使用的疗法因该变种的突变而变得无用，病例数迅速攀升，医生和公共卫生官员越来越担心。</blockquote></p><p> The Food and Drug Administration’s authorization of&nbsp;Pfizer’s&nbsp;(ticker: PFE) Covid-19 pill Paxlovid on Wednesday offered some hope. The pill is cleared only for high-risk individuals, and supplies will initially be limited, but it will save lives.</p><p><blockquote>美国食品和药物管理局周三批准辉瑞公司（股票代码：PFE）的Covid-19药物Paxlovid带来了一些希望。这种药丸仅适用于高危人群，最初供应有限，但它将拯救生命。</blockquote></p><p> The authorization represents an extraordinary coup for Pfizer, its second of the pandemic. Analysts expect Pfizer to sell $21.7 billion worth of the drug in 2022, according to FactSet, though the company now says that it will make 120 million courses of the drug next year, 40 million more than previously forecast, which will probably drive those estimates higher.</p><p><blockquote>此次授权对辉瑞来说是一次非同寻常的政变，这是辉瑞公司在疫情的第二次授权。FactSet的数据显示，分析师预计辉瑞公司将在2022年销售价值217亿美元的该药物，不过该公司现在表示明年将生产1.2亿个疗程的该药物，比之前的预测多4000万个疗程，这可能会推高这些估计。</blockquote></p><p> As <i>Barron’s</i> argued in November, the success of Paxlovid is more evidence that the company’s decision in 2019 to rid itself of all but its innovative biopharma business was a smart one.</p><p><blockquote>作为<i>巴伦周刊</i>去年11月，Paxlovid的成功进一步证明，该公司在2019年决定摆脱除创新生物制药业务以外的所有业务是明智的。</blockquote></p><p> Investors had been slow to buy into the revamped Pfizer, but late this year they caught up fast. In the 12 months before November of this year, Pfizer shares trailed the&nbsp;S&amp;P 500&nbsp;index, even as it rolled out its Covid-19 vaccine. Since the start of November, however, Pfizer shares have exploded. The stock is up 36.4% since then, while the S&amp;P 500 has climbed just 1.6%.</p><p><blockquote>投资者一直迟迟没有买入重组后的辉瑞，但今年年底他们很快就赶上了。在今年11月之前的12个月里，辉瑞的股价落后于标准普尔500指数，尽管它推出了新冠肺炎疫苗。然而，自11月初以来，辉瑞股价大幅上涨。此后，该股上涨了36.4%，而标普500仅上涨了1.6%。</blockquote></p><p> And the stock remains relatively cheap, trading at just 9.8 times earnings expected over the next 12 months, according to FactSet, a discount to peers like&nbsp;Eli Lilly&nbsp;(LLY), which trades at 31.7 times earnings, and&nbsp;Johnson &amp; Johnson&nbsp;(JNJ), at 16.1 times earnings.</p><p><blockquote>FactSet的数据显示，该股仍然相对便宜，未来12个月预期市盈率仅为9.8倍，低于礼来公司(LLY)和强生公司(JNJ)等同行，市盈率为31.7倍。市盈率为16.1倍。</blockquote></p><p> The good news for Pfizer this week was matched by less-good news for&nbsp;Merck&nbsp;(MRK). Though early data on its Covid-19 pill molnupiravir sent vaccine stocks lower and Merck shares higher, the shine has since come off the drug, as updated data have suggested that it’s less efficacious than it initially appeared, and safety questions have lingered.</p><p><blockquote>本周辉瑞的好消息与默克（MRK）的坏消息相匹配。尽管其Covid-19药物molnupiravir的早期数据导致疫苗股走低，默克公司股价走高，但此后该药物的光芒已经消失，因为更新的数据表明它的效果不如最初看起来的那么好，而且安全问题仍然存在。</blockquote></p><p> The FDA issued an emergency-use authorization for molnupiravir on Thursday, a day after it issued Paxlovid’s, under far more restrictive terms. The authorization allows for molnupiravir to be used only when other Covid-19 treatments, like Paxlovid, are not accessible or not clinically appropriate. The agency also did not recommend the drug for use during pregnancy, and advised that men who take molnupiravir should use birth control for at least three months afterward.</p><p><blockquote>FDA于周四发布了molnupiravir的紧急使用授权，一天前它发布了Paxlovid的紧急使用授权，但条款要严格得多。该授权允许molnupiravir仅在其他Covid-19治疗方法（如Paxlovid）不可用或临床不合适时使用。该机构也不建议在怀孕期间使用该药物，并建议服用莫努匹韦的男性在怀孕后至少三个月内应采取避孕措施。</blockquote></p><p> Earlier hopes that molnupiravir could be a long-term revenue driver are evaporating. The disappointment is a reminder of the challenge facing Merck before the end of this decade: the loss of patent protections on Keytruda, the cancer drug blockbuster that accounts for roughly a third of its revenue. Merck has been working toward filling that gap. It doesn’t appear that molnupiravir will be a big contributor to that effort.</p><p><blockquote>早些时候对莫努匹拉韦可能成为长期收入驱动力的希望正在消失。这种失望提醒人们默克在本十年结束前面临的挑战：失去Keytruda的专利保护，Keytruda是一种癌症药物，约占其收入的三分之一。默克一直在努力填补这一空白。莫努匹拉韦似乎不会对这一努力做出重大贡献。</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>Pfizer’s Covid Pill Gets Green Light. Investors Are Starting to Pay Attention to the Stock.<blockquote>辉瑞的Covid药丸获得批准。投资者开始关注该股。</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\">\nPfizer’s Covid Pill Gets Green Light. Investors Are Starting to Pay Attention to the Stock.<blockquote>辉瑞的Covid药丸获得批准。投资者开始关注该股。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-12-24 09:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Covid-19 pill is here, and it couldn’t have come at a better time.</p><p><blockquote>新冠肺炎药丸来了，来得正是时候。</blockquote></p><p> The pandemic grew darker over the past two weeks, as the Omicron variant swept into the U.S. With most of the widely used therapies rendered useless by the variant’s mutations, and case counts quickly climbing, doctors and public health officials have been increasingly worried.</p><p><blockquote>随着奥密克戎变种席卷美国，疫情在过去两周变得更加黑暗。随着大多数广泛使用的疗法因该变种的突变而变得无用，病例数迅速攀升，医生和公共卫生官员越来越担心。</blockquote></p><p> The Food and Drug Administration’s authorization of&nbsp;Pfizer’s&nbsp;(ticker: PFE) Covid-19 pill Paxlovid on Wednesday offered some hope. The pill is cleared only for high-risk individuals, and supplies will initially be limited, but it will save lives.</p><p><blockquote>美国食品和药物管理局周三批准辉瑞公司（股票代码：PFE）的Covid-19药物Paxlovid带来了一些希望。这种药丸仅适用于高危人群，最初供应有限，但它将拯救生命。</blockquote></p><p> The authorization represents an extraordinary coup for Pfizer, its second of the pandemic. Analysts expect Pfizer to sell $21.7 billion worth of the drug in 2022, according to FactSet, though the company now says that it will make 120 million courses of the drug next year, 40 million more than previously forecast, which will probably drive those estimates higher.</p><p><blockquote>此次授权对辉瑞来说是一次非同寻常的政变，这是辉瑞公司在疫情的第二次授权。FactSet的数据显示，分析师预计辉瑞公司将在2022年销售价值217亿美元的该药物，不过该公司现在表示明年将生产1.2亿个疗程的该药物，比之前的预测多4000万个疗程，这可能会推高这些估计。</blockquote></p><p> As <i>Barron’s</i> argued in November, the success of Paxlovid is more evidence that the company’s decision in 2019 to rid itself of all but its innovative biopharma business was a smart one.</p><p><blockquote>作为<i>巴伦周刊</i>去年11月，Paxlovid的成功进一步证明，该公司在2019年决定摆脱除创新生物制药业务以外的所有业务是明智的。</blockquote></p><p> Investors had been slow to buy into the revamped Pfizer, but late this year they caught up fast. In the 12 months before November of this year, Pfizer shares trailed the&nbsp;S&amp;P 500&nbsp;index, even as it rolled out its Covid-19 vaccine. Since the start of November, however, Pfizer shares have exploded. The stock is up 36.4% since then, while the S&amp;P 500 has climbed just 1.6%.</p><p><blockquote>投资者一直迟迟没有买入重组后的辉瑞，但今年年底他们很快就赶上了。在今年11月之前的12个月里，辉瑞的股价落后于标准普尔500指数，尽管它推出了新冠肺炎疫苗。然而，自11月初以来，辉瑞股价大幅上涨。此后，该股上涨了36.4%，而标普500仅上涨了1.6%。</blockquote></p><p> And the stock remains relatively cheap, trading at just 9.8 times earnings expected over the next 12 months, according to FactSet, a discount to peers like&nbsp;Eli Lilly&nbsp;(LLY), which trades at 31.7 times earnings, and&nbsp;Johnson &amp; Johnson&nbsp;(JNJ), at 16.1 times earnings.</p><p><blockquote>FactSet的数据显示，该股仍然相对便宜，未来12个月预期市盈率仅为9.8倍，低于礼来公司(LLY)和强生公司(JNJ)等同行，市盈率为31.7倍。市盈率为16.1倍。</blockquote></p><p> The good news for Pfizer this week was matched by less-good news for&nbsp;Merck&nbsp;(MRK). Though early data on its Covid-19 pill molnupiravir sent vaccine stocks lower and Merck shares higher, the shine has since come off the drug, as updated data have suggested that it’s less efficacious than it initially appeared, and safety questions have lingered.</p><p><blockquote>本周辉瑞的好消息与默克（MRK）的坏消息相匹配。尽管其Covid-19药物molnupiravir的早期数据导致疫苗股走低，默克公司股价走高，但此后该药物的光芒已经消失，因为更新的数据表明它的效果不如最初看起来的那么好，而且安全问题仍然存在。</blockquote></p><p> The FDA issued an emergency-use authorization for molnupiravir on Thursday, a day after it issued Paxlovid’s, under far more restrictive terms. The authorization allows for molnupiravir to be used only when other Covid-19 treatments, like Paxlovid, are not accessible or not clinically appropriate. The agency also did not recommend the drug for use during pregnancy, and advised that men who take molnupiravir should use birth control for at least three months afterward.</p><p><blockquote>FDA于周四发布了molnupiravir的紧急使用授权，一天前它发布了Paxlovid的紧急使用授权，但条款要严格得多。该授权允许molnupiravir仅在其他Covid-19治疗方法（如Paxlovid）不可用或临床不合适时使用。该机构也不建议在怀孕期间使用该药物，并建议服用莫努匹韦的男性在怀孕后至少三个月内应采取避孕措施。</blockquote></p><p> Earlier hopes that molnupiravir could be a long-term revenue driver are evaporating. The disappointment is a reminder of the challenge facing Merck before the end of this decade: the loss of patent protections on Keytruda, the cancer drug blockbuster that accounts for roughly a third of its revenue. Merck has been working toward filling that gap. It doesn’t appear that molnupiravir will be a big contributor to that effort.</p><p><blockquote>早些时候对莫努匹拉韦可能成为长期收入驱动力的希望正在消失。这种失望提醒人们默克在本十年结束前面临的挑战：失去Keytruda的专利保护，Keytruda是一种癌症药物，约占其收入的三分之一。默克一直在努力填补这一空白。莫努匹拉韦似乎不会对这一努力做出重大贡献。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/pfizer-covid-pill-pfe-stock-51640266734?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":{"PFE":"辉瑞"},"source_url":"https://www.barrons.com/articles/pfizer-covid-pill-pfe-stock-51640266734?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1110395878","content_text":"The Covid-19 pill is here, and it couldn’t have come at a better time.\nThe pandemic grew darker over the past two weeks, as the Omicron variant swept into the U.S. With most of the widely used therapies rendered useless by the variant’s mutations, and case counts quickly climbing, doctors and public health officials have been increasingly worried.\nThe Food and Drug Administration’s authorization of Pfizer’s (ticker: PFE) Covid-19 pill Paxlovid on Wednesday offered some hope. The pill is cleared only for high-risk individuals, and supplies will initially be limited, but it will save lives.\nThe authorization represents an extraordinary coup for Pfizer, its second of the pandemic. Analysts expect Pfizer to sell $21.7 billion worth of the drug in 2022, according to FactSet, though the company now says that it will make 120 million courses of the drug next year, 40 million more than previously forecast, which will probably drive those estimates higher.\nAs Barron’s argued in November, the success of Paxlovid is more evidence that the company’s decision in 2019 to rid itself of all but its innovative biopharma business was a smart one.\nInvestors had been slow to buy into the revamped Pfizer, but late this year they caught up fast. In the 12 months before November of this year, Pfizer shares trailed the S&P 500 index, even as it rolled out its Covid-19 vaccine. Since the start of November, however, Pfizer shares have exploded. The stock is up 36.4% since then, while the S&P 500 has climbed just 1.6%.\nAnd the stock remains relatively cheap, trading at just 9.8 times earnings expected over the next 12 months, according to FactSet, a discount to peers like Eli Lilly (LLY), which trades at 31.7 times earnings, and Johnson & Johnson (JNJ), at 16.1 times earnings.\nThe good news for Pfizer this week was matched by less-good news for Merck (MRK). Though early data on its Covid-19 pill molnupiravir sent vaccine stocks lower and Merck shares higher, the shine has since come off the drug, as updated data have suggested that it’s less efficacious than it initially appeared, and safety questions have lingered.\nThe FDA issued an emergency-use authorization for molnupiravir on Thursday, a day after it issued Paxlovid’s, under far more restrictive terms. The authorization allows for molnupiravir to be used only when other Covid-19 treatments, like Paxlovid, are not accessible or not clinically appropriate. The agency also did not recommend the drug for use during pregnancy, and advised that men who take molnupiravir should use birth control for at least three months afterward.\nEarlier hopes that molnupiravir could be a long-term revenue driver are evaporating. The disappointment is a reminder of the challenge facing Merck before the end of this decade: the loss of patent protections on Keytruda, the cancer drug blockbuster that accounts for roughly a third of its revenue. Merck has been working toward filling that gap. It doesn’t appear that molnupiravir will be a big contributor to that effort.","news_type":1,"symbols_score_info":{"PFE":0.9}},"isVote":1,"tweetType":1,"viewCount":2891,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693322153,"gmtCreate":1639974369680,"gmtModify":1639974371978,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Diei","listText":"Diei","text":"Diei","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/693322153","repostId":"1135122268","repostType":4,"isVote":1,"tweetType":1,"viewCount":2849,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605705810,"gmtCreate":1639238025765,"gmtModify":1639238027906,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Kk","listText":"Kk","text":"Kk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/605705810","repostId":"2190620320","repostType":4,"isVote":1,"tweetType":1,"viewCount":3849,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":608785255,"gmtCreate":1638791076022,"gmtModify":1638791509598,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Lab","listText":"Lab","text":"Lab","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/608785255","repostId":"1169549915","repostType":4,"repost":{"id":"1169549915","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1638790330,"share":"https://www.laohu8.com/m/news/1169549915?lang=zh_CN&edition=full","pubTime":"2021-12-06 19:32","market":"us","language":"en","title":"Lucid stock plunged 16% in premarket trading<blockquote>Lucid股价在盘前交易中暴跌16%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169549915","media":"Tiger Newspress","summary":"Lucid stock plunged 16% in premarket trading after the electric car maker received subpoena from U.S","content":"<p>Lucid stock plunged 16% in premarket trading&nbsp;after&nbsp;the&nbsp;electric car maker&nbsp;received subpoena from U.S. SEC.</p><p><blockquote>电动汽车制造商Lucid收到美国SEC的传票后，该公司股价在盘前交易中暴跌16%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5dfa0d73ad31c40158f7d7142b2f6069\" tg-width=\"851\" tg-height=\"624\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Lucid Group Inc&nbsp;has received a subpoena from the U.S. Securities and Exchange Commission seeking documents related to a probe on its blank-check deal, the Luxury electric-car maker said on Monday.</p><p><blockquote>豪华电动汽车制造商Lucid Group Inc周一表示，已收到美国证券交易委员会的传票，要求提供与其空白支票交易调查相关的文件。</blockquote></p><p> \"The investigation appears to concern the business combination between the Company (Churchill Capital Corp. IV) and Atieva Inc and certain projections and statements,\" the company said in a regulatory&nbsp;filing.</p><p><blockquote>该公司在一份监管文件中表示：“调查似乎涉及该公司（Churchill Capital Corp.IV）和Atieva Inc之间的业务合并以及某些预测和声明。”</blockquote></p><p> The deal, which was completed earlier this year, was with veteran dealmaker Michael Klein's blank-check acquisition firm.</p><p><blockquote>该交易于今年早些时候完成，是与资深交易撮合者迈克尔·克莱因(Michael Klein)的空白支票收购公司进行的。</blockquote></p><p> It was one of the biggest in a string of deals by electric vehicle makers such as Nikola Corp&nbsp;and Fisker Inc that have gone public by combining with special purpose acquisition companies (SPACs).</p><p><blockquote>这是尼古拉公司(Nikola Corp)和菲斯克公司(Fisker Inc)等电动汽车制造商通过与特殊目的收购公司(SPAC)合并上市的一系列交易中最大的一笔。</blockquote></p><p></p>","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>Lucid stock plunged 16% in premarket trading<blockquote>Lucid股价在盘前交易中暴跌16%</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\">\nLucid stock plunged 16% in premarket trading<blockquote>Lucid股价在盘前交易中暴跌16%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-06 19:32</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Lucid stock plunged 16% in premarket trading&nbsp;after&nbsp;the&nbsp;electric car maker&nbsp;received subpoena from U.S. SEC.</p><p><blockquote>电动汽车制造商Lucid收到美国SEC的传票后，该公司股价在盘前交易中暴跌16%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5dfa0d73ad31c40158f7d7142b2f6069\" tg-width=\"851\" tg-height=\"624\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Lucid Group Inc&nbsp;has received a subpoena from the U.S. Securities and Exchange Commission seeking documents related to a probe on its blank-check deal, the Luxury electric-car maker said on Monday.</p><p><blockquote>豪华电动汽车制造商Lucid Group Inc周一表示，已收到美国证券交易委员会的传票，要求提供与其空白支票交易调查相关的文件。</blockquote></p><p> \"The investigation appears to concern the business combination between the Company (Churchill Capital Corp. IV) and Atieva Inc and certain projections and statements,\" the company said in a regulatory&nbsp;filing.</p><p><blockquote>该公司在一份监管文件中表示：“调查似乎涉及该公司（Churchill Capital Corp.IV）和Atieva Inc之间的业务合并以及某些预测和声明。”</blockquote></p><p> The deal, which was completed earlier this year, was with veteran dealmaker Michael Klein's blank-check acquisition firm.</p><p><blockquote>该交易于今年早些时候完成，是与资深交易撮合者迈克尔·克莱因(Michael Klein)的空白支票收购公司进行的。</blockquote></p><p> It was one of the biggest in a string of deals by electric vehicle makers such as Nikola Corp&nbsp;and Fisker Inc that have gone public by combining with special purpose acquisition companies (SPACs).</p><p><blockquote>这是尼古拉公司(Nikola Corp)和菲斯克公司(Fisker Inc)等电动汽车制造商通过与特殊目的收购公司(SPAC)合并上市的一系列交易中最大的一笔。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LCID":"Lucid Group Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169549915","content_text":"Lucid stock plunged 16% in premarket trading after the electric car maker received subpoena from U.S. SEC.\n\nLucid Group Inc has received a subpoena from the U.S. Securities and Exchange Commission seeking documents related to a probe on its blank-check deal, the Luxury electric-car maker said on Monday.\n\"The investigation appears to concern the business combination between the Company (Churchill Capital Corp. IV) and Atieva Inc and certain projections and statements,\" the company said in a regulatory filing.\nThe deal, which was completed earlier this year, was with veteran dealmaker Michael Klein's blank-check acquisition firm.\nIt was one of the biggest in a string of deals by electric vehicle makers such as Nikola Corp and Fisker Inc that have gone public by combining with special purpose acquisition companies (SPACs).","news_type":1,"symbols_score_info":{"LCID":0.9}},"isVote":1,"tweetType":1,"viewCount":3107,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":601270623,"gmtCreate":1638539863365,"gmtModify":1638539864278,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Maybe","listText":"Maybe","text":"Maybe","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/601270623","repostId":"2188854525","repostType":4,"repost":{"id":"2188854525","kind":"highlight","pubTimestamp":1638536261,"share":"https://www.laohu8.com/m/news/2188854525?lang=zh_CN&edition=full","pubTime":"2021-12-03 20:57","market":"us","language":"en","title":"'The bond market is not yet prepared' -- here's what a Wall Street veteran fears<blockquote>“债券市场尚未准备好”——这是一位华尔街资深人士的担忧</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2188854525","media":"MarketWatch","summary":"As the signals from the Federal Reserve become louder and louder that interest rates will be hiked n","content":"<p>As the signals from the Federal Reserve become louder and louder that interest rates will be hiked next year, the question for markets becomes less about when and more about, how high.</p><p><blockquote>随着美联储明年加息的信号越来越大，市场面临的问题不再是何时加息，而是加息幅度有多大。</blockquote></p><p> Nearly every rate-hike cycle since the 1970s has resulted in successively lower peaks. That's logical, because inflation also has had lower peaks.</p><p><blockquote>自20世纪70年代以来，几乎每个加息周期都会导致峰值不断降低。这是合乎逻辑的，因为通胀峰值也较低。</blockquote></p><p> \"In essence, a secular decline in inflation has mitigated the need for monetary policy makers to lift official interest rates as much as previous business cycles,\" said Joe LaVorgna, the chief economist of the Americas for Natixis Corporate and Investment Banking, who also was chief economist for the White House National Economic Council in the latter days of the Trump administration.</p><p><blockquote>Natixis企业和投资银行美洲首席经济学家Joe LaVorgna表示：“从本质上讲，通胀的长期下降减轻了货币政策制定者像之前商业周期那样提高官方利率的需要。”特朗普政府后期担任白宫国家经济委员会首席经济学家。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/766e2ce17be0292d43f5fd3a83ce848a\" tg-width=\"700\" tg-height=\"505\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Markets have learned. Measured by five-year overnight index swaps, traders expect the next rate hike cycle to peak at just 1.45%. And adjusted for inflation, real rates are forecast not to get into positive territory in this business cycle.</p><p><blockquote>市场已经吸取了教训。以五年期隔夜指数掉期衡量，交易员预计下一个加息周期的峰值仅为1.45%。经通胀调整后，预计实际利率在本商业周期中不会进入正值区域。</blockquote></p><p> LaVorgna said markets may be in store for a rude awakening. \"But unprecedented fiscal and monetary stimulus since COVID may have reversed the post-1980s secular downtrend in inflation. If this is the case, then the real fed-funds rate eventually needs to get back into positive territory to dampen inflationary pressure,\" he said.</p><p><blockquote>LaVorgna表示，市场可能会猛然醒悟。“但自新冠疫情以来前所未有的财政和货币刺激措施可能扭转了20世纪80年代后通胀的长期下降趋势。如果是这样的话，那么实际联邦基金利率最终需要回到正值区域，以抑制通胀压力，”他说。</blockquote></p><p> LaVorgna said the bond market isn't yet prepared. And to MarketWatch, he said neither is the stock market. The end result for equities? \"Eventually a serious compression in multiples,\" he said in an email. The last reading for the Shiller price-to-equty ratio was a staggering 39.</p><p><blockquote>拉沃尼亚表示，债券市场尚未做好准备。他对MarketWatch表示，股市也不是。股票的最终结果？“最终倍数会严重压缩，”他在一封电子邮件中说。席勒市盈率的最新读数为惊人的39。</blockquote></p><p></p>","source":"lsy1603348471595","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>'The bond market is not yet prepared' -- here's what a Wall Street veteran fears<blockquote>“债券市场尚未准备好”——这是一位华尔街资深人士的担忧</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\">\n'The bond market is not yet prepared' -- here's what a Wall Street veteran fears<blockquote>“债券市场尚未准备好”——这是一位华尔街资深人士的担忧</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-12-03 20:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As the signals from the Federal Reserve become louder and louder that interest rates will be hiked next year, the question for markets becomes less about when and more about, how high.</p><p><blockquote>随着美联储明年加息的信号越来越大，市场面临的问题不再是何时加息，而是加息幅度有多大。</blockquote></p><p> Nearly every rate-hike cycle since the 1970s has resulted in successively lower peaks. That's logical, because inflation also has had lower peaks.</p><p><blockquote>自20世纪70年代以来，几乎每个加息周期都会导致峰值不断降低。这是合乎逻辑的，因为通胀峰值也较低。</blockquote></p><p> \"In essence, a secular decline in inflation has mitigated the need for monetary policy makers to lift official interest rates as much as previous business cycles,\" said Joe LaVorgna, the chief economist of the Americas for Natixis Corporate and Investment Banking, who also was chief economist for the White House National Economic Council in the latter days of the Trump administration.</p><p><blockquote>Natixis企业和投资银行美洲首席经济学家Joe LaVorgna表示：“从本质上讲，通胀的长期下降减轻了货币政策制定者像之前商业周期那样提高官方利率的需要。”特朗普政府后期担任白宫国家经济委员会首席经济学家。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/766e2ce17be0292d43f5fd3a83ce848a\" tg-width=\"700\" tg-height=\"505\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Markets have learned. Measured by five-year overnight index swaps, traders expect the next rate hike cycle to peak at just 1.45%. And adjusted for inflation, real rates are forecast not to get into positive territory in this business cycle.</p><p><blockquote>市场已经吸取了教训。以五年期隔夜指数掉期衡量，交易员预计下一个加息周期的峰值仅为1.45%。经通胀调整后，预计实际利率在本商业周期中不会进入正值区域。</blockquote></p><p> LaVorgna said markets may be in store for a rude awakening. \"But unprecedented fiscal and monetary stimulus since COVID may have reversed the post-1980s secular downtrend in inflation. If this is the case, then the real fed-funds rate eventually needs to get back into positive territory to dampen inflationary pressure,\" he said.</p><p><blockquote>LaVorgna表示，市场可能会猛然醒悟。“但自新冠疫情以来前所未有的财政和货币刺激措施可能扭转了20世纪80年代后通胀的长期下降趋势。如果是这样的话，那么实际联邦基金利率最终需要回到正值区域，以抑制通胀压力，”他说。</blockquote></p><p> LaVorgna said the bond market isn't yet prepared. And to MarketWatch, he said neither is the stock market. The end result for equities? \"Eventually a serious compression in multiples,\" he said in an email. The last reading for the Shiller price-to-equty ratio was a staggering 39.</p><p><blockquote>拉沃尼亚表示，债券市场尚未做好准备。他对MarketWatch表示，股市也不是。股票的最终结果？“最终倍数会严重压缩，”他在一封电子邮件中说。席勒市盈率的最新读数为惊人的39。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-bond-market-is-not-yet-prepared-heres-what-a-wall-street-veteran-fears-11638532504?mod=home-page\">MarketWatch</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":{"BK4112":"金融交易所和数据","BK4548":"巴美列捷福持仓","BK4551":"寇图资本持仓","BK4539":"次新股","BK4023":"应用软件","Z":"Zillow","BK4561":"索罗斯持仓",".IXIC":"NASDAQ Composite","BK4526":"热门中概股","BK4141":"半导体产品",".SPX":"S&P 500 Index","BK4022":"陆运","BK4528":"SaaS概念",".DJI":"道琼斯","BK4535":"淡马锡持仓","BK4079":"房地产服务","ZG":"Zillow Class A","BK4505":"高瓴资本持仓","ICE":"洲际交易所","BK4515":"5G概念","MRVL":"迈威尔科技"},"source_url":"https://www.marketwatch.com/story/the-bond-market-is-not-yet-prepared-heres-what-a-wall-street-veteran-fears-11638532504?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2188854525","content_text":"As the signals from the Federal Reserve become louder and louder that interest rates will be hiked next year, the question for markets becomes less about when and more about, how high.\nNearly every rate-hike cycle since the 1970s has resulted in successively lower peaks. That's logical, because inflation also has had lower peaks.\n\"In essence, a secular decline in inflation has mitigated the need for monetary policy makers to lift official interest rates as much as previous business cycles,\" said Joe LaVorgna, the chief economist of the Americas for Natixis Corporate and Investment Banking, who also was chief economist for the White House National Economic Council in the latter days of the Trump administration.\n\nMarkets have learned. Measured by five-year overnight index swaps, traders expect the next rate hike cycle to peak at just 1.45%. And adjusted for inflation, real rates are forecast not to get into positive territory in this business cycle.\nLaVorgna said markets may be in store for a rude awakening. \"But unprecedented fiscal and monetary stimulus since COVID may have reversed the post-1980s secular downtrend in inflation. If this is the case, then the real fed-funds rate eventually needs to get back into positive territory to dampen inflationary pressure,\" he said.\nLaVorgna said the bond market isn't yet prepared. And to MarketWatch, he said neither is the stock market. The end result for equities? \"Eventually a serious compression in multiples,\" he said in an email. The last reading for the Shiller price-to-equty ratio was a staggering 39.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,"Z":0.9,"MRVL":0.9,"ZG":0.9,".DJI":0.9,"ICE":0.9}},"isVote":1,"tweetType":1,"viewCount":3205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":600899599,"gmtCreate":1638112337211,"gmtModify":1638112338144,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Gulah","listText":"Gulah","text":"Gulah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/600899599","repostId":"877290040","repostType":1,"repost":{"id":877290040,"gmtCreate":1637932396277,"gmtModify":1637935514436,"author":{"id":"9000000000000104","authorId":"9000000000000104","name":"小左第一视角","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"9000000000000104","idStr":"9000000000000104"},"themes":[],"title":"","htmlText":"\n \n \n  美股股指大暴跌，怎么办？这只股票盘前竟涨了，抄底准备中。AAPL、AFRM、AMAT、BABA、BB、CRM、DIS、LCID、NIO、NVDA、PLTR、TSLA、ROKU小左1126五\n \n","listText":"美股股指大暴跌，怎么办？这只股票盘前竟涨了，抄底准备中。AAPL、AFRM、AMAT、BABA、BB、CRM、DIS、LCID、NIO、NVDA、PLTR、TSLA、ROKU小左1126五","text":"美股股指大暴跌，怎么办？这只股票盘前竟涨了，抄底准备中。AAPL、AFRM、AMAT、BABA、BB、CRM、DIS、LCID、NIO、NVDA、PLTR、TSLA、ROKU小左1126五","images":[],"top":1,"highlighted":2,"essential":2,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/877290040","isVote":1,"tweetType":2,"object":{"id":"538f864f8bc94efea8814f5f969bec2d","tweetId":"877290040","title":"美股股指大暴跌，怎么办？这只股票盘前竟涨了，抄底准备中。AAPL、AFRM、AMAT、BABA、BB、CRM、DIS、LCID、NIO、NVDA、PLTR、TSLA、ROKU小左1126五","videoUrl":"http://v.tigerbbs.com/163793239316012b94d46af116c97672f6839812135ad.mp4","poster":"https://static.tigerbbs.com/37bbf57f4cb62133c38147f8856c7cc8","shareLink":"http://v.tigerbbs.com/163793239316012b94d46af116c97672f6839812135ad.mp4"},"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2679,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":877376940,"gmtCreate":1637892804703,"gmtModify":1637892805612,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Knn","listText":"Knn","text":"Knn","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/877376940","repostId":"2186937803","repostType":4,"isVote":1,"tweetType":1,"viewCount":2619,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":873017236,"gmtCreate":1636796776238,"gmtModify":1636796777048,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/873017236","repostId":"1102251183","repostType":4,"repost":{"id":"1102251183","kind":"news","pubTimestamp":1636772424,"share":"https://www.laohu8.com/m/news/1102251183?lang=zh_CN&edition=full","pubTime":"2021-11-13 11:00","market":"us","language":"en","title":"Pfizer Shows Its R&D Is Strong. It’s a Good Sign for the Stock.<blockquote>辉瑞显示其研发实力雄厚。这对该股来说是一个好兆头。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1102251183","media":"Barrons","summary":"Pfizer’s chief scientific officer, Mikael Dolsten, sounded giddy when reached via telephone early Mo","content":"<p>Pfizer’s&nbsp;chief scientific officer, Mikael Dolsten, sounded giddy when reached via telephone early Monday morning. It was just days after his company knocked the socks off the market with the news that its Covid-19 antiviral had cut the risk of hospitalization by 89% in high-risk adults.</p><p><blockquote>周一早上，辉瑞公司首席科学官米凯尔·多尔斯滕(Mikael Dolsten)接到电话时，听起来很头晕。就在几天前，他的公司宣布其Covid-19抗病毒药物将高危成年人的住院风险降低了89%。</blockquote></p><p> “It can’t be just a random thing, that you’re able to beat this type of world record and get a grand slam at the same time by chance,” Dolsten said, scrambling sports metaphors as he sought to illustrate the magnitude of Pfizer’s twin wins: the development of a stunningly effective Covid-19 vaccine in just 10 months, followed a year later by the development of a similarly stunning Covid-19 antiviral.</p><p><blockquote>多尔斯滕说：“你能够打破这种类型的世界纪录，同时偶然获得大满贯，这不可能只是一件随机的事情。”他在试图说明辉瑞的双重胜利：在短短10个月内开发出了一种效果惊人的Covid-19疫苗，一年后又开发出了一种同样令人惊叹的Covid-19抗病毒药物。</blockquote></p><p> Two years ago, Pfizer (ticker: PFE) CEO Albert Bourla asked investors to take a big gamble on the research-and-development operation that Dolsten has rebuilt over the course of more than a decade. That bet is looking smarter than ever.</p><p><blockquote>两年前，辉瑞（股票代码：PFE）首席执行官阿尔伯特·布尔拉（Albert Bourla）要求投资者对多尔斯滕十多年来重建的研发业务进行豪赌。这个赌注看起来比以往任何时候都更聪明。</blockquote></p><p> Bourla has gotten rid of Pfizer’s off-patent drugs division and the last of its consumer health products, leaving behind a pure-play biopharma company that will live or die on the strength of Dolsten’s science.</p><p><blockquote>Bourla已经摆脱了辉瑞的非专利药物部门及其最后的消费者健康产品，留下了一家纯粹的生物制药公司，该公司的生死存亡都取决于Dolsten的科学实力。</blockquote></p><p> In a cover story in November 2019, <i>Barron’s</i> argued that Bourla and Dolsten could pull it off.</p><p><blockquote>在2019年11月的一篇封面报道中，<i>巴伦周刊</i>认为布尔拉和多尔斯滕可以成功。</blockquote></p><p> The new antiviral data reaffirms the case for Pfizer that <i>Barron’s</i> made two years ago. Continuing to profit off the pandemic, however, brings new risks, as criticism grows over the global inequity in vaccine distribution. Low-income nations account for less than 1% of the more than seven billion doses administered worldwide. If distribution of Pfizer’s antiviral continues to favor wealthy nations, the company’s stock could ultimately suffer.</p><p><blockquote>新的抗病毒数据再次证实了辉瑞的理由<i>巴伦周刊</i>两年前做的。然而，随着对全球疫苗分配不平等的批评越来越多，继续从大流行中获利会带来新的风险。在全球超过70亿剂疫苗中，低收入国家仅占不到1%。如果辉瑞抗病毒药物的分销继续有利于富裕国家，该公司的股票最终可能会受到影响。</blockquote></p><p> Pfizer’s shares surged 10.9% the day the data came out, their best daily showing in at least 20 years. Still, with the stock now changing hands at around $50, investors continue to undervalue the company. Investors are pricing Pfizer at 12 times next year’s expected earnings, cheaper than peers like&nbsp;Johnson &amp; Johnson&nbsp;(JNJ) and&nbsp;Eli Lilly&nbsp;(LLY).</p><p><blockquote>数据公布当天，辉瑞股价飙升10.9%，创下至少20年来的最佳单日表现。尽管如此，由于该股目前易手价格约为50美元，投资者继续低估该公司的价值。投资者对辉瑞的定价是明年预期收益的12倍，低于强生(JNJ)和礼来(LLY)等同行。</blockquote></p><p> The Pfizer discount can be attributed to concerns over the patent cliff the drugmaker faces at the end of the decade. The company stands to lose exclusivity over a handful of drugs that bring in billions in annual revenue.</p><p><blockquote>辉瑞的折扣可归因于对该制药商在本世纪末面临专利悬崖的担忧。该公司将失去对少数年收入数十亿美元的药物的独家经营权。</blockquote></p><p> The worries are legitimate, but Pfizer’s scientific coup should give investors confidence that the company’s science can carry it safely over that cliff. It may take time for the market to catch up, but for long-term investors, it’s a promising opportunity.</p><p><blockquote>这些担忧是合理的，但辉瑞的科学政变应该让投资者相信该公司的科学能够安全地越过悬崖。市场可能需要时间才能赶上，但对于长期投资者来说，这是一个充满希望的机会。</blockquote></p><p> The success of the antiviral is the best illustration yet of Pfizer’s scientific prowess.</p><p><blockquote>抗病毒药物的成功是辉瑞科学实力的最佳例证。</blockquote></p><p> While Pfizer’s Covid-19 vaccine came out of the labs of the German biotech&nbsp;BioNTech&nbsp;(BNTX), the new Covid-19 antiviral was whipped up by what Dolsten called a “dream team” of scientists at Pfizer’s own labs across the Northeast U.S.</p><p><blockquote>虽然辉瑞的新冠肺炎疫苗来自德国生物技术公司BioNTech(BNTX)的实验室，但新的新冠肺炎抗病毒药物是由多尔斯滕所说的辉瑞位于美国东北部实验室的科学家“梦之队”研制出来的。</blockquote></p><p> In the earliest days of the pandemic, Pfizer split its efforts between its collaboration with BioNTech on the vaccine and its quest for a Covid-19 pill. The vaccine effort operated on a huge scale; Dolsten called it a “mega team” that spanned the Atlantic.</p><p><blockquote>在大流行的早期，辉瑞公司将其工作分为与BioNTech在疫苗上的合作和对Covid-19药丸的探索。疫苗工作规模巨大；多尔斯滕称之为横跨大西洋的“巨型团队”。</blockquote></p><p> The antiviral project was a much smaller operation—a group of Pfizer experts operating with resources left over from the vaccine push.</p><p><blockquote>抗病毒项目规模要小得多——一组辉瑞专家利用疫苗推广剩余的资源进行运营。</blockquote></p><p> “The small molecule was more like a nimble, laser-focused, high-end team, with rather moderate resources,” Dolsten said.</p><p><blockquote>“小分子更像是一个灵活、专注于激光的高端团队，拥有相当适中的资源，”多尔斯滕说。</blockquote></p><p> Dolsten gathered some of Pfizer’s most experienced scientists to work on the antiviral project, including its head of medicine design, Charlotte Allerton. The scientists started with work Pfizer had done years ago on a type of antiviral called a protease inhibitor.</p><p><blockquote>多尔斯滕召集了辉瑞公司一些最有经验的科学家参与抗病毒项目，其中包括药物设计主管夏洛特·阿勒顿。科学家们从辉瑞公司多年前在一种叫做蛋白酶抑制剂的抗病毒药物上所做的工作开始。</blockquote></p><p> “[Pfizer’s] pharmaceutical R&amp;D is better than people had thought.”</p><p><blockquote>“（辉瑞的）制药研发比人们想象的要好。”</blockquote></p><p> The protease inhibitors in the Pfizer library, however, had been administered intravenously, and had not worked well when delivered orally. The team had to figure out how to adapt the drugs to oral administration, a substantial undertaking.</p><p><blockquote>然而，辉瑞文库中的蛋白酶抑制剂已经静脉内施用，并且当口服递送时效果不佳。该团队必须弄清楚如何使药物适应口服给药，这是一项艰巨的任务。</blockquote></p><p> “They had to really create a lot of new chemistry,” Dolsten said. The scientists created 600 compounds to nail down the right drug, a process that might normally take years, and which they accomplished in a matter of months. “Four years turned into four months here,” he said.</p><p><blockquote>“他们必须真正创造很多新的化学反应，”多尔斯滕说。科学家们创造了600种化合物来确定正确的药物，这个过程通常可能需要数年时间，但他们在几个月内就完成了。“在这里，四年变成了四个月，”他说。</blockquote></p><p> Pfizer started testing the pill in humans in March. It is now running a number of Phase 2/3 trials of the drug, including one for patients who are high risk, one for patients not high risk, and one as a prophylaxis for patients who have been exposed to the virus but aren’t yet sick. In the first readout, the drug looked substantially more effective than the Covid treatment pill from&nbsp;Merck&nbsp;(MRK).</p><p><blockquote>辉瑞公司于三月份开始在人体中测试这种药物。该公司目前正在进行该药物的多项2/3期试验，包括一项针对高风险患者，一项针对非高风险患者，以及一项针对接触过病毒但尚未患病的患者的预防试验。在第一次读数中，该药物看起来比默克公司(MRK)的新冠治疗药物有效得多。</blockquote></p><p> “It definitely helps prove the point that [Pfizer’s] pharmaceutical R&amp;D is better than people had thought,” says Louise Chen, an analyst at Cantor Fitzgerald, who has an Overweight rating and a $61 price target on the stock.</p><p><blockquote>Cantor Fitzgerald分析师Louise Chen表示：“这无疑有助于证明辉瑞的制药研发比人们想象的要好。”她对该股给予跑赢大盘评级，目标价为61美元。</blockquote></p><p></p><p> Chen says that she doesn’t expect investors to come around to her way of thinking until there is more clarity on the durability of Covid-19 vaccine and pill sales, and the rest of the pipeline gets proved out.</p><p><blockquote>陈表示，在Covid-19疫苗和药丸销售的持久性更加明确以及其余产品得到证实之前，她预计投资者不会接受她的想法。</blockquote></p><p> “There is not one event that I think will trigger a re-rating of the stock at the next level,” she says. “Until those things play out, I don’t think that it necessarily will.”</p><p><blockquote>“我认为没有一个事件会引发该股下一个级别的重新评级，”她说。“在这些事情发生之前，我认为不一定会发生。”</blockquote></p><p> That makes a bet on Pfizer a long-term play. In the meantime, the experience of&nbsp;Moderna&nbsp;(MRNA) in recent weeks is highlighting the potential for the vaccine makers to come under scrutiny over unequal distribution of vaccines.</p><p><blockquote>这使得对辉瑞的押注成为一项长期投资。与此同时，Moderna(MRNA)最近几周的经历凸显了疫苗制造商因疫苗分配不平等而受到审查的可能性。</blockquote></p><p> Biden administration officials have been increasingly frustrated with Moderna, calling on the company to ramp up production so it can offer more doses at not-for-profit prices to low-income countries, with one top official calling on the company to “step up.”</p><p><blockquote>拜登政府官员对Moderna越来越失望，呼吁该公司提高产量，以便能够以非营利价格向低收入国家提供更多剂量，一位高级官员呼吁该公司“挺身而出”。</blockquote></p><p> Moderna shares are down more than 40% over the past three months.</p><p><blockquote>Moderna股价在过去三个月下跌了40%以上。</blockquote></p><p> As the pandemic persists, Pfizer risks eroding the enormous goodwill it earned roughly a year ago when it introduced its Covid-19 vaccine. Earlier this month, Pfizer CEO Bourla blamed low-income countries for unfair vaccine distribution, telling <i>Barron’s</i> that it was their fault for not placing orders. Pfizer has sold a billion vaccine doses to the U.S. at a not-for-profit price to donate to poor countries, and says that a total of at least two billion doses will be delivered to low- and middle-income nations by the end of next year.</p><p><blockquote>随着疫情的持续，辉瑞面临着侵蚀大约一年前推出Covid-19疫苗时赢得的巨大商誉的风险。本月早些时候，辉瑞首席执行官布尔拉指责低收入国家疫苗分配不公平，告诉<i>巴伦周刊</i>没有下订单是他们的错。辉瑞公司已以非营利价格向美国出售了10亿剂疫苗，捐赠给贫穷国家，并表示到明年年底将向中低收入国家提供总计至少20亿剂疫苗。</blockquote></p><p> When it comes to antivirals, Pfizer has said only that it will offer tiered pricing for poorer nations, the same approach it has taken with its vaccine.</p><p><blockquote>在抗病毒药物方面，辉瑞仅表示将为较贫穷国家提供分级定价，与其疫苗采取的方法相同。</blockquote></p><p> That contrasts sharply with Merck’s plan to make its own Covid-19 pill available to poor countries. Merck has signed a deal with a United Nations-backed group that will allow its pill to be licensed globally, with no royalties paid to Merck.</p><p><blockquote>这与默克公司向贫穷国家提供自己的Covid-19药丸的计划形成鲜明对比。默克公司已与一个联合国支持的组织签署了一项协议，允许其药丸在全球范围内获得许可，无需向默克公司支付特许权使用费。</blockquote></p><p> Dolsten said that Pfizer is looking into licensing its pill under a similar mechanism as Merck’s. “We will look at those options,” he said. “By no means have we said we would do something different. We just want to make sure whoever will be involved gets the advice and skill to do this.”</p><p><blockquote>多尔斯滕表示，辉瑞正在考虑根据与默克类似的机制许可其药物。“我们将考虑这些选择，”他说。“我们绝不是说我们会做一些不同的事情。我们只是想确保参与其中的人都能获得这样做的建议和技能。”</blockquote></p><p> Such a step couldn’t come soon enough. Late last month, activists protested outside Bourla’s home, calling on Pfizer to share its vaccine manufacturing technology and to fill orders from low-income countries ahead of those from wealthy countries.</p><p><blockquote>这样的一步来得太快了。上月底，活动人士在布尔拉家外抗议，呼吁辉瑞分享其疫苗制造技术，并在富裕国家之前完成低收入国家的订单。</blockquote></p><p> An aggressive plan to share its antiviral would help stave off such criticism, keeping Pfizer in the relative good graces of Washington and allowing its impressive science to continue to drive the stock higher.</p><p><blockquote>分享其抗病毒药物的积极计划将有助于避免此类批评，使辉瑞公司相对受到华盛顿的青睐，并使其令人印象深刻的科学知识继续推动股价走高。</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>Pfizer Shows Its R&D Is Strong. It’s a Good Sign for the Stock.<blockquote>辉瑞显示其研发实力雄厚。这对该股来说是一个好兆头。</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\">\nPfizer Shows Its R&D Is Strong. It’s a Good Sign for the Stock.<blockquote>辉瑞显示其研发实力雄厚。这对该股来说是一个好兆头。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-11-13 11:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Pfizer’s&nbsp;chief scientific officer, Mikael Dolsten, sounded giddy when reached via telephone early Monday morning. It was just days after his company knocked the socks off the market with the news that its Covid-19 antiviral had cut the risk of hospitalization by 89% in high-risk adults.</p><p><blockquote>周一早上，辉瑞公司首席科学官米凯尔·多尔斯滕(Mikael Dolsten)接到电话时，听起来很头晕。就在几天前，他的公司宣布其Covid-19抗病毒药物将高危成年人的住院风险降低了89%。</blockquote></p><p> “It can’t be just a random thing, that you’re able to beat this type of world record and get a grand slam at the same time by chance,” Dolsten said, scrambling sports metaphors as he sought to illustrate the magnitude of Pfizer’s twin wins: the development of a stunningly effective Covid-19 vaccine in just 10 months, followed a year later by the development of a similarly stunning Covid-19 antiviral.</p><p><blockquote>多尔斯滕说：“你能够打破这种类型的世界纪录，同时偶然获得大满贯，这不可能只是一件随机的事情。”他在试图说明辉瑞的双重胜利：在短短10个月内开发出了一种效果惊人的Covid-19疫苗，一年后又开发出了一种同样令人惊叹的Covid-19抗病毒药物。</blockquote></p><p> Two years ago, Pfizer (ticker: PFE) CEO Albert Bourla asked investors to take a big gamble on the research-and-development operation that Dolsten has rebuilt over the course of more than a decade. That bet is looking smarter than ever.</p><p><blockquote>两年前，辉瑞（股票代码：PFE）首席执行官阿尔伯特·布尔拉（Albert Bourla）要求投资者对多尔斯滕十多年来重建的研发业务进行豪赌。这个赌注看起来比以往任何时候都更聪明。</blockquote></p><p> Bourla has gotten rid of Pfizer’s off-patent drugs division and the last of its consumer health products, leaving behind a pure-play biopharma company that will live or die on the strength of Dolsten’s science.</p><p><blockquote>Bourla已经摆脱了辉瑞的非专利药物部门及其最后的消费者健康产品，留下了一家纯粹的生物制药公司，该公司的生死存亡都取决于Dolsten的科学实力。</blockquote></p><p> In a cover story in November 2019, <i>Barron’s</i> argued that Bourla and Dolsten could pull it off.</p><p><blockquote>在2019年11月的一篇封面报道中，<i>巴伦周刊</i>认为布尔拉和多尔斯滕可以成功。</blockquote></p><p> The new antiviral data reaffirms the case for Pfizer that <i>Barron’s</i> made two years ago. Continuing to profit off the pandemic, however, brings new risks, as criticism grows over the global inequity in vaccine distribution. Low-income nations account for less than 1% of the more than seven billion doses administered worldwide. If distribution of Pfizer’s antiviral continues to favor wealthy nations, the company’s stock could ultimately suffer.</p><p><blockquote>新的抗病毒数据再次证实了辉瑞的理由<i>巴伦周刊</i>两年前做的。然而，随着对全球疫苗分配不平等的批评越来越多，继续从大流行中获利会带来新的风险。在全球超过70亿剂疫苗中，低收入国家仅占不到1%。如果辉瑞抗病毒药物的分销继续有利于富裕国家，该公司的股票最终可能会受到影响。</blockquote></p><p> Pfizer’s shares surged 10.9% the day the data came out, their best daily showing in at least 20 years. Still, with the stock now changing hands at around $50, investors continue to undervalue the company. Investors are pricing Pfizer at 12 times next year’s expected earnings, cheaper than peers like&nbsp;Johnson &amp; Johnson&nbsp;(JNJ) and&nbsp;Eli Lilly&nbsp;(LLY).</p><p><blockquote>数据公布当天，辉瑞股价飙升10.9%，创下至少20年来的最佳单日表现。尽管如此，由于该股目前易手价格约为50美元，投资者继续低估该公司的价值。投资者对辉瑞的定价是明年预期收益的12倍，低于强生(JNJ)和礼来(LLY)等同行。</blockquote></p><p> The Pfizer discount can be attributed to concerns over the patent cliff the drugmaker faces at the end of the decade. The company stands to lose exclusivity over a handful of drugs that bring in billions in annual revenue.</p><p><blockquote>辉瑞的折扣可归因于对该制药商在本世纪末面临专利悬崖的担忧。该公司将失去对少数年收入数十亿美元的药物的独家经营权。</blockquote></p><p> The worries are legitimate, but Pfizer’s scientific coup should give investors confidence that the company’s science can carry it safely over that cliff. It may take time for the market to catch up, but for long-term investors, it’s a promising opportunity.</p><p><blockquote>这些担忧是合理的，但辉瑞的科学政变应该让投资者相信该公司的科学能够安全地越过悬崖。市场可能需要时间才能赶上，但对于长期投资者来说，这是一个充满希望的机会。</blockquote></p><p> The success of the antiviral is the best illustration yet of Pfizer’s scientific prowess.</p><p><blockquote>抗病毒药物的成功是辉瑞科学实力的最佳例证。</blockquote></p><p> While Pfizer’s Covid-19 vaccine came out of the labs of the German biotech&nbsp;BioNTech&nbsp;(BNTX), the new Covid-19 antiviral was whipped up by what Dolsten called a “dream team” of scientists at Pfizer’s own labs across the Northeast U.S.</p><p><blockquote>虽然辉瑞的新冠肺炎疫苗来自德国生物技术公司BioNTech(BNTX)的实验室，但新的新冠肺炎抗病毒药物是由多尔斯滕所说的辉瑞位于美国东北部实验室的科学家“梦之队”研制出来的。</blockquote></p><p> In the earliest days of the pandemic, Pfizer split its efforts between its collaboration with BioNTech on the vaccine and its quest for a Covid-19 pill. The vaccine effort operated on a huge scale; Dolsten called it a “mega team” that spanned the Atlantic.</p><p><blockquote>在大流行的早期，辉瑞公司将其工作分为与BioNTech在疫苗上的合作和对Covid-19药丸的探索。疫苗工作规模巨大；多尔斯滕称之为横跨大西洋的“巨型团队”。</blockquote></p><p> The antiviral project was a much smaller operation—a group of Pfizer experts operating with resources left over from the vaccine push.</p><p><blockquote>抗病毒项目规模要小得多——一组辉瑞专家利用疫苗推广剩余的资源进行运营。</blockquote></p><p> “The small molecule was more like a nimble, laser-focused, high-end team, with rather moderate resources,” Dolsten said.</p><p><blockquote>“小分子更像是一个灵活、专注于激光的高端团队，拥有相当适中的资源，”多尔斯滕说。</blockquote></p><p> Dolsten gathered some of Pfizer’s most experienced scientists to work on the antiviral project, including its head of medicine design, Charlotte Allerton. The scientists started with work Pfizer had done years ago on a type of antiviral called a protease inhibitor.</p><p><blockquote>多尔斯滕召集了辉瑞公司一些最有经验的科学家参与抗病毒项目，其中包括药物设计主管夏洛特·阿勒顿。科学家们从辉瑞公司多年前在一种叫做蛋白酶抑制剂的抗病毒药物上所做的工作开始。</blockquote></p><p> “[Pfizer’s] pharmaceutical R&amp;D is better than people had thought.”</p><p><blockquote>“（辉瑞的）制药研发比人们想象的要好。”</blockquote></p><p> The protease inhibitors in the Pfizer library, however, had been administered intravenously, and had not worked well when delivered orally. The team had to figure out how to adapt the drugs to oral administration, a substantial undertaking.</p><p><blockquote>然而，辉瑞文库中的蛋白酶抑制剂已经静脉内施用，并且当口服递送时效果不佳。该团队必须弄清楚如何使药物适应口服给药，这是一项艰巨的任务。</blockquote></p><p> “They had to really create a lot of new chemistry,” Dolsten said. The scientists created 600 compounds to nail down the right drug, a process that might normally take years, and which they accomplished in a matter of months. “Four years turned into four months here,” he said.</p><p><blockquote>“他们必须真正创造很多新的化学反应，”多尔斯滕说。科学家们创造了600种化合物来确定正确的药物，这个过程通常可能需要数年时间，但他们在几个月内就完成了。“在这里，四年变成了四个月，”他说。</blockquote></p><p> Pfizer started testing the pill in humans in March. It is now running a number of Phase 2/3 trials of the drug, including one for patients who are high risk, one for patients not high risk, and one as a prophylaxis for patients who have been exposed to the virus but aren’t yet sick. In the first readout, the drug looked substantially more effective than the Covid treatment pill from&nbsp;Merck&nbsp;(MRK).</p><p><blockquote>辉瑞公司于三月份开始在人体中测试这种药物。该公司目前正在进行该药物的多项2/3期试验，包括一项针对高风险患者，一项针对非高风险患者，以及一项针对接触过病毒但尚未患病的患者的预防试验。在第一次读数中，该药物看起来比默克公司(MRK)的新冠治疗药物有效得多。</blockquote></p><p> “It definitely helps prove the point that [Pfizer’s] pharmaceutical R&amp;D is better than people had thought,” says Louise Chen, an analyst at Cantor Fitzgerald, who has an Overweight rating and a $61 price target on the stock.</p><p><blockquote>Cantor Fitzgerald分析师Louise Chen表示：“这无疑有助于证明辉瑞的制药研发比人们想象的要好。”她对该股给予跑赢大盘评级，目标价为61美元。</blockquote></p><p></p><p> Chen says that she doesn’t expect investors to come around to her way of thinking until there is more clarity on the durability of Covid-19 vaccine and pill sales, and the rest of the pipeline gets proved out.</p><p><blockquote>陈表示，在Covid-19疫苗和药丸销售的持久性更加明确以及其余产品得到证实之前，她预计投资者不会接受她的想法。</blockquote></p><p> “There is not one event that I think will trigger a re-rating of the stock at the next level,” she says. “Until those things play out, I don’t think that it necessarily will.”</p><p><blockquote>“我认为没有一个事件会引发该股下一个级别的重新评级，”她说。“在这些事情发生之前，我认为不一定会发生。”</blockquote></p><p> That makes a bet on Pfizer a long-term play. In the meantime, the experience of&nbsp;Moderna&nbsp;(MRNA) in recent weeks is highlighting the potential for the vaccine makers to come under scrutiny over unequal distribution of vaccines.</p><p><blockquote>这使得对辉瑞的押注成为一项长期投资。与此同时，Moderna(MRNA)最近几周的经历凸显了疫苗制造商因疫苗分配不平等而受到审查的可能性。</blockquote></p><p> Biden administration officials have been increasingly frustrated with Moderna, calling on the company to ramp up production so it can offer more doses at not-for-profit prices to low-income countries, with one top official calling on the company to “step up.”</p><p><blockquote>拜登政府官员对Moderna越来越失望，呼吁该公司提高产量，以便能够以非营利价格向低收入国家提供更多剂量，一位高级官员呼吁该公司“挺身而出”。</blockquote></p><p> Moderna shares are down more than 40% over the past three months.</p><p><blockquote>Moderna股价在过去三个月下跌了40%以上。</blockquote></p><p> As the pandemic persists, Pfizer risks eroding the enormous goodwill it earned roughly a year ago when it introduced its Covid-19 vaccine. Earlier this month, Pfizer CEO Bourla blamed low-income countries for unfair vaccine distribution, telling <i>Barron’s</i> that it was their fault for not placing orders. Pfizer has sold a billion vaccine doses to the U.S. at a not-for-profit price to donate to poor countries, and says that a total of at least two billion doses will be delivered to low- and middle-income nations by the end of next year.</p><p><blockquote>随着疫情的持续，辉瑞面临着侵蚀大约一年前推出Covid-19疫苗时赢得的巨大商誉的风险。本月早些时候，辉瑞首席执行官布尔拉指责低收入国家疫苗分配不公平，告诉<i>巴伦周刊</i>没有下订单是他们的错。辉瑞公司已以非营利价格向美国出售了10亿剂疫苗，捐赠给贫穷国家，并表示到明年年底将向中低收入国家提供总计至少20亿剂疫苗。</blockquote></p><p> When it comes to antivirals, Pfizer has said only that it will offer tiered pricing for poorer nations, the same approach it has taken with its vaccine.</p><p><blockquote>在抗病毒药物方面，辉瑞仅表示将为较贫穷国家提供分级定价，与其疫苗采取的方法相同。</blockquote></p><p> That contrasts sharply with Merck’s plan to make its own Covid-19 pill available to poor countries. Merck has signed a deal with a United Nations-backed group that will allow its pill to be licensed globally, with no royalties paid to Merck.</p><p><blockquote>这与默克公司向贫穷国家提供自己的Covid-19药丸的计划形成鲜明对比。默克公司已与一个联合国支持的组织签署了一项协议，允许其药丸在全球范围内获得许可，无需向默克公司支付特许权使用费。</blockquote></p><p> Dolsten said that Pfizer is looking into licensing its pill under a similar mechanism as Merck’s. “We will look at those options,” he said. “By no means have we said we would do something different. We just want to make sure whoever will be involved gets the advice and skill to do this.”</p><p><blockquote>多尔斯滕表示，辉瑞正在考虑根据与默克类似的机制许可其药物。“我们将考虑这些选择，”他说。“我们绝不是说我们会做一些不同的事情。我们只是想确保参与其中的人都能获得这样做的建议和技能。”</blockquote></p><p> Such a step couldn’t come soon enough. Late last month, activists protested outside Bourla’s home, calling on Pfizer to share its vaccine manufacturing technology and to fill orders from low-income countries ahead of those from wealthy countries.</p><p><blockquote>这样的一步来得太快了。上月底，活动人士在布尔拉家外抗议，呼吁辉瑞分享其疫苗制造技术，并在富裕国家之前完成低收入国家的订单。</blockquote></p><p> An aggressive plan to share its antiviral would help stave off such criticism, keeping Pfizer in the relative good graces of Washington and allowing its impressive science to continue to drive the stock higher.</p><p><blockquote>分享其抗病毒药物的积极计划将有助于避免此类批评，使辉瑞公司相对受到华盛顿的青睐，并使其令人印象深刻的科学知识继续推动股价走高。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/buy-pfizer-stock-covid-19-51636674652?mod=hp_LEAD_1\">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":{"PFE":"辉瑞"},"source_url":"https://www.barrons.com/articles/buy-pfizer-stock-covid-19-51636674652?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102251183","content_text":"Pfizer’s chief scientific officer, Mikael Dolsten, sounded giddy when reached via telephone early Monday morning. It was just days after his company knocked the socks off the market with the news that its Covid-19 antiviral had cut the risk of hospitalization by 89% in high-risk adults.\n“It can’t be just a random thing, that you’re able to beat this type of world record and get a grand slam at the same time by chance,” Dolsten said, scrambling sports metaphors as he sought to illustrate the magnitude of Pfizer’s twin wins: the development of a stunningly effective Covid-19 vaccine in just 10 months, followed a year later by the development of a similarly stunning Covid-19 antiviral.\nTwo years ago, Pfizer (ticker: PFE) CEO Albert Bourla asked investors to take a big gamble on the research-and-development operation that Dolsten has rebuilt over the course of more than a decade. That bet is looking smarter than ever.\nBourla has gotten rid of Pfizer’s off-patent drugs division and the last of its consumer health products, leaving behind a pure-play biopharma company that will live or die on the strength of Dolsten’s science.\nIn a cover story in November 2019, Barron’s argued that Bourla and Dolsten could pull it off.\nThe new antiviral data reaffirms the case for Pfizer that Barron’s made two years ago. Continuing to profit off the pandemic, however, brings new risks, as criticism grows over the global inequity in vaccine distribution. Low-income nations account for less than 1% of the more than seven billion doses administered worldwide. If distribution of Pfizer’s antiviral continues to favor wealthy nations, the company’s stock could ultimately suffer.\nPfizer’s shares surged 10.9% the day the data came out, their best daily showing in at least 20 years. Still, with the stock now changing hands at around $50, investors continue to undervalue the company. Investors are pricing Pfizer at 12 times next year’s expected earnings, cheaper than peers like Johnson & Johnson (JNJ) and Eli Lilly (LLY).\nThe Pfizer discount can be attributed to concerns over the patent cliff the drugmaker faces at the end of the decade. The company stands to lose exclusivity over a handful of drugs that bring in billions in annual revenue.\nThe worries are legitimate, but Pfizer’s scientific coup should give investors confidence that the company’s science can carry it safely over that cliff. It may take time for the market to catch up, but for long-term investors, it’s a promising opportunity.\nThe success of the antiviral is the best illustration yet of Pfizer’s scientific prowess.\nWhile Pfizer’s Covid-19 vaccine came out of the labs of the German biotech BioNTech (BNTX), the new Covid-19 antiviral was whipped up by what Dolsten called a “dream team” of scientists at Pfizer’s own labs across the Northeast U.S.\nIn the earliest days of the pandemic, Pfizer split its efforts between its collaboration with BioNTech on the vaccine and its quest for a Covid-19 pill. The vaccine effort operated on a huge scale; Dolsten called it a “mega team” that spanned the Atlantic.\nThe antiviral project was a much smaller operation—a group of Pfizer experts operating with resources left over from the vaccine push.\n“The small molecule was more like a nimble, laser-focused, high-end team, with rather moderate resources,” Dolsten said.\nDolsten gathered some of Pfizer’s most experienced scientists to work on the antiviral project, including its head of medicine design, Charlotte Allerton. The scientists started with work Pfizer had done years ago on a type of antiviral called a protease inhibitor.\n“[Pfizer’s] pharmaceutical R&D is better than people had thought.”\nThe protease inhibitors in the Pfizer library, however, had been administered intravenously, and had not worked well when delivered orally. The team had to figure out how to adapt the drugs to oral administration, a substantial undertaking.\n“They had to really create a lot of new chemistry,” Dolsten said. The scientists created 600 compounds to nail down the right drug, a process that might normally take years, and which they accomplished in a matter of months. “Four years turned into four months here,” he said.\nPfizer started testing the pill in humans in March. It is now running a number of Phase 2/3 trials of the drug, including one for patients who are high risk, one for patients not high risk, and one as a prophylaxis for patients who have been exposed to the virus but aren’t yet sick. In the first readout, the drug looked substantially more effective than the Covid treatment pill from Merck (MRK).\n“It definitely helps prove the point that [Pfizer’s] pharmaceutical R&D is better than people had thought,” says Louise Chen, an analyst at Cantor Fitzgerald, who has an Overweight rating and a $61 price target on the stock.\nChen says that she doesn’t expect investors to come around to her way of thinking until there is more clarity on the durability of Covid-19 vaccine and pill sales, and the rest of the pipeline gets proved out.\n“There is not one event that I think will trigger a re-rating of the stock at the next level,” she says. “Until those things play out, I don’t think that it necessarily will.”\nThat makes a bet on Pfizer a long-term play. In the meantime, the experience of Moderna (MRNA) in recent weeks is highlighting the potential for the vaccine makers to come under scrutiny over unequal distribution of vaccines.\nBiden administration officials have been increasingly frustrated with Moderna, calling on the company to ramp up production so it can offer more doses at not-for-profit prices to low-income countries, with one top official calling on the company to “step up.”\nModerna shares are down more than 40% over the past three months.\nAs the pandemic persists, Pfizer risks eroding the enormous goodwill it earned roughly a year ago when it introduced its Covid-19 vaccine. Earlier this month, Pfizer CEO Bourla blamed low-income countries for unfair vaccine distribution, telling Barron’s that it was their fault for not placing orders. Pfizer has sold a billion vaccine doses to the U.S. at a not-for-profit price to donate to poor countries, and says that a total of at least two billion doses will be delivered to low- and middle-income nations by the end of next year.\nWhen it comes to antivirals, Pfizer has said only that it will offer tiered pricing for poorer nations, the same approach it has taken with its vaccine.\nThat contrasts sharply with Merck’s plan to make its own Covid-19 pill available to poor countries. Merck has signed a deal with a United Nations-backed group that will allow its pill to be licensed globally, with no royalties paid to Merck.\nDolsten said that Pfizer is looking into licensing its pill under a similar mechanism as Merck’s. “We will look at those options,” he said. “By no means have we said we would do something different. We just want to make sure whoever will be involved gets the advice and skill to do this.”\nSuch a step couldn’t come soon enough. Late last month, activists protested outside Bourla’s home, calling on Pfizer to share its vaccine manufacturing technology and to fill orders from low-income countries ahead of those from wealthy countries.\nAn aggressive plan to share its antiviral would help stave off such criticism, keeping Pfizer in the relative good graces of Washington and allowing its impressive science to continue to drive the stock higher.","news_type":1,"symbols_score_info":{"PFE":0.9}},"isVote":1,"tweetType":1,"viewCount":3223,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":841558475,"gmtCreate":1635927958094,"gmtModify":1635927958878,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Kk","listText":"Kk","text":"Kk","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841558475","repostId":"1123197935","repostType":4,"repost":{"id":"1123197935","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1635926581,"share":"https://www.laohu8.com/m/news/1123197935?lang=zh_CN&edition=full","pubTime":"2021-11-03 16:03","market":"us","language":"en","title":"Activision Blizzard stock dropped 11% in premarket trading<blockquote>动视暴雪股价盘前交易下跌11%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1123197935","media":"Tiger Newspress","summary":"Activision Blizzard Inc. shares sank in premarket trading Wednesday after the videogame publisher’s ","content":"<p>Activision Blizzard Inc. shares sank in premarket trading Wednesday after the videogame publisher’s lighter-than-expected outlook and expected delay of two games eclipsed an earnings beat and commitments to a safe and equitable work environment.</p><p><blockquote>动视暴雪公司(Activision Blizzard Inc.)股价周三在盘前交易中下跌，此前这家视频游戏发行商的前景弱于预期，两款游戏的预期延迟盖过了盈利预期以及对安全公平工作环境的承诺。</blockquote></p><p> Activision Blizzard&nbsp;shares sank more&nbsp;than 11% after the earnings call. Shares fell 2.1% to close at $77.67 Tuesday&nbsp;to give Activision Blizzard a $60.4 billion market cap.</p><p><blockquote>财报看涨期权公布后，动视暴雪股价下跌逾11%。周二，动视暴雪股价下跌2.1%，收于77.67美元，市值达到604亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/75c797cd99fe04a5d5f5968df8835903\" tg-width=\"850\" tg-height=\"619\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The company said it expects fourth-quarter adjusted earnings of 62 cents a share on revenue of $2.02 billion and bookings of $2.78 billion. The company also raised its full-year forecast to earnings of $3.70 a share on revenue of $8.66 billion and bookings of $8.65 billion, compared with its quarter-ago forecast of $3.54 a share on revenue of $8.52 billion and bookings of $8.65 billion for the year.</p><p><blockquote>该公司表示，预计第四季度调整后每股收益为62美分，营收为20.2亿美元，预订量为27.8亿美元。该公司还将全年预期上调至每股收益3.70美元，营收86.6亿美元，预订量86.5亿美元，而上一季度预期为每股收益3.54美元，全年营收85.2亿美元，预订量86.5亿美元。</blockquote></p><p> Analysts, however, estimated earnings of $1.38 a share on revenue of $2.91 billion and bookings of $2.89 billion for the fourth quarter, and earnings of $3.83 a share on revenue of $8.79 billion and bookings of $8.76 billion for the year.</p><p><blockquote>然而，分析师预计第四季度每股收益为1.38美元，营收为29.1亿美元，预订量为28.9亿美元，全年每股收益为3.83美元，营收为87.9亿美元，预订量为87.6亿美元。</blockquote></p><p> Activision Blizzard Chief Financial Officer Armin Zerza said on the call “we remain prudent in our revenue assumption for the fourth quarter, and regarding costs we have decided to further step up investment in mobile marketing given the strong returns we are currently seeing and compliance in the organization.”</p><p><blockquote>动视暴雪首席财务官Armin Zerza在看涨期权上表示：“我们对第四季度的收入假设保持谨慎，在成本方面，鉴于我们目前看到的强劲回报和合规性，我们决定进一步加大对移动营销的投资在组织中。”</blockquote></p><p> For the fourth quarter, Activision Blizzard said it will roll out “Call of Duty: Vanguard” on Friday, and the franchise’s “Warzone Pacific” update on Dec. 5. Other anticipated titles, however, are getting delayed.</p><p><blockquote>对于第四季度，动视暴雪表示将于周五推出《使命看涨期权：先锋》，并于12月5日推出该系列的《战区太平洋》更新。然而，其他预期的标题正在被推迟。</blockquote></p><p> “While we are still planning to deliver a substantial amount of content from Blizzard next year, we are now planning for a later launch for ‘Overwatch 2’ and ‘Diablo IV’ than originally envisaged,” Daniel Alegre, the company’s chief operating officer, said on the call. “These are two of the most eagerly anticipated titles in the industry, and our teams have made great strides towards completion in recent quarters.”</p><p><blockquote>该公司首席运营官Daniel Alegre在看涨期权上表示：“虽然我们仍计划明年从暴雪提供大量内容，但我们现在计划推出《守望先锋2》和《暗黑破坏神4》的时间比最初设想的要晚。”“这是业内最受期待的两个游戏，我们的团队最近几个季度在完成方面取得了长足的进步。”</blockquote></p><p> Delays in releases have become more commonplace as publishers seek to avoid releasing games that may still have bugs, especially since CD Projekt SA’s&nbsp;long-awaited and long-overdue release last year of “Cyberpunk 2077” that forced distributors like Sony Group Corp.&nbsp;to offer full refunds.</p><p><blockquote>随着发行商试图避免发布可能仍有漏洞的游戏，发行延迟变得越来越普遍，特别是自CD Projekt SA去年发布期待已久的《赛博朋克2077》以来，该游戏迫使索尼集团公司等发行商提供全额退款。</blockquote></p><p> The company reported third-quarter net income of $639 million, or 82 cents a share, compared with $604 million, or 78 cents a share, in the year-ago period.&nbsp;Activision said adjusted earnings, which exclude share-based compensation expenses and other items, rose 89 cents a share from 88 cents a share in the year-ago period.</p><p><blockquote>该公司报告第三季度净利润为6.39亿美元，即每股82美分，而去年同期为6.04亿美元，即每股78美分。动视暴雪表示，调整后的收益（不包括股权激励费用和其他项目）从去年同期的每股88美分上涨了89美分。</blockquote></p><p> Revenue rose to $2.07 billion from $1.95 billion in the year-ago quarter, while bookings increased to $1.88 billion from $1.77 billion last year. Bookings represent the value of digital products and services sold during a quarter, but part of the revenue from those purchases is often recognized in future quarters.</p><p><blockquote>收入从去年同期的19.5亿美元增至20.7亿美元，预订量从去年同期的17.7亿美元增至18.8亿美元。预订代表一个季度内销售的数字产品和服务的价值，但这些购买的部分收入通常会在未来几个季度确认。</blockquote></p><p> Analysts surveyed by FactSet had forecast 70 cents a share on revenue of $1.88 billion and bookings of $1.87 billion, based on the company’s forecast of 75 cents a share on revenue of $1.97 billion and bookings of $1.85 billion.</p><p><blockquote>FactSet调查的分析师此前预测每股70美分，营收18.8亿美元，预订量18.7亿美元，而该公司预测每股75美分，营收19.7亿美元，预订量18.5亿美元。</blockquote></p><p> On the conference call, Bobby Kotick, Activision Blizzard’s chief executive, acknowledged the company fired more than 20 employees related to allegations of sexual harassment and discrimination over the past quarter, and that it is waiving arbitration requirements for future claims of harassment and discrimination. Kotick also said the company plans to increase the number of women and non-binary employees by 50% within the next five years, so they comprise about one-third of the workforce.</p><p><blockquote>在电话会议上，动视暴雪首席执行官Bobby Kotick承认，该公司在过去一个季度解雇了20多名与性骚扰和歧视指控有关的员工，并将放弃对未来骚扰和歧视指控的仲裁要求。科蒂克还表示，公司计划在未来五年内将女性和非二元员工的数量增加50%，使她们约占员工总数的三分之一。</blockquote></p><p> “Right now workplace leadership is my focus,” said Bobby Kotick, Activision Blizzard’s chief executive, on the call. “Our opportunities for growth as we’ve talked about have never been better, but we won’t be able to realize all that growth potential without talent. And to retain and attract the talent we need, we obviously have to be recognized as the very best place to work. This means we have to be the best welcoming inclusive environment.”</p><p><blockquote>动视暴雪首席执行官Bobby Kotick在看涨期权上表示：“目前，工作场所领导力是我的重点。”“正如我们所谈到的，我们的增长机会从未如此之好，但如果没有人才，我们将无法实现所有的增长潜力。为了留住和吸引我们需要的人才，我们显然必须被公认为最好的工作场所。这意味着我们必须成为最受欢迎的包容性环境。”</blockquote></p><p> Kotick also noted a 2020 review of pay equity from an outside firm showed that “women on average earned slightly more than men for comparable work in 2020,” and that Activision Blizzard was committed to equitable pay.</p><p><blockquote>科蒂克还指出，一家外部公司2020年对薪酬公平的审查显示，“2020年，从事可比工作的女性平均收入略高于男性”，动视暴雪致力于实现薪酬公平。</blockquote></p><p> Activision Blizzard publishes such games as &nbsp;“Call of Duty” through its Activision label; “World of Warcraft,” “Overwatch,” and “Diablo” through its Blizzard label, and “Candy Crush” through its King label. Last week, Activision Blizzard announced it had acquired Barcelona-based mobile game developer Digital Legends for an undisclosed price.</p><p><blockquote>动视暴雪通过旗下动视厂牌发行《使命看涨期权》等游戏；《魔兽世界》、《守望先锋》和《暗黑破坏神》通过其暴雪标签，《糖果粉碎》通过其国王标签。上周，动视暴雪宣布以未公开的价格收购了巴塞罗那手机游戏开发商Digital Legends。</blockquote></p><p></p><p> Take-Two Interactive Inc.,Electronic Arts Inc.,and Playtika Holding Corp. are scheduled to report earnings on Wednesday.</p><p><blockquote>Take-Two Interactive Inc.、Electronic Arts Inc.和Playtika Holding Corp.定于周三公布财报。</blockquote></p><p></p>","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>Activision Blizzard stock dropped 11% in premarket trading<blockquote>动视暴雪股价盘前交易下跌11%</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\">\nActivision Blizzard stock dropped 11% in premarket trading<blockquote>动视暴雪股价盘前交易下跌11%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-03 16:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Activision Blizzard Inc. shares sank in premarket trading Wednesday after the videogame publisher’s lighter-than-expected outlook and expected delay of two games eclipsed an earnings beat and commitments to a safe and equitable work environment.</p><p><blockquote>动视暴雪公司(Activision Blizzard Inc.)股价周三在盘前交易中下跌，此前这家视频游戏发行商的前景弱于预期，两款游戏的预期延迟盖过了盈利预期以及对安全公平工作环境的承诺。</blockquote></p><p> Activision Blizzard&nbsp;shares sank more&nbsp;than 11% after the earnings call. Shares fell 2.1% to close at $77.67 Tuesday&nbsp;to give Activision Blizzard a $60.4 billion market cap.</p><p><blockquote>财报看涨期权公布后，动视暴雪股价下跌逾11%。周二，动视暴雪股价下跌2.1%，收于77.67美元，市值达到604亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/75c797cd99fe04a5d5f5968df8835903\" tg-width=\"850\" tg-height=\"619\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The company said it expects fourth-quarter adjusted earnings of 62 cents a share on revenue of $2.02 billion and bookings of $2.78 billion. The company also raised its full-year forecast to earnings of $3.70 a share on revenue of $8.66 billion and bookings of $8.65 billion, compared with its quarter-ago forecast of $3.54 a share on revenue of $8.52 billion and bookings of $8.65 billion for the year.</p><p><blockquote>该公司表示，预计第四季度调整后每股收益为62美分，营收为20.2亿美元，预订量为27.8亿美元。该公司还将全年预期上调至每股收益3.70美元，营收86.6亿美元，预订量86.5亿美元，而上一季度预期为每股收益3.54美元，全年营收85.2亿美元，预订量86.5亿美元。</blockquote></p><p> Analysts, however, estimated earnings of $1.38 a share on revenue of $2.91 billion and bookings of $2.89 billion for the fourth quarter, and earnings of $3.83 a share on revenue of $8.79 billion and bookings of $8.76 billion for the year.</p><p><blockquote>然而，分析师预计第四季度每股收益为1.38美元，营收为29.1亿美元，预订量为28.9亿美元，全年每股收益为3.83美元，营收为87.9亿美元，预订量为87.6亿美元。</blockquote></p><p> Activision Blizzard Chief Financial Officer Armin Zerza said on the call “we remain prudent in our revenue assumption for the fourth quarter, and regarding costs we have decided to further step up investment in mobile marketing given the strong returns we are currently seeing and compliance in the organization.”</p><p><blockquote>动视暴雪首席财务官Armin Zerza在看涨期权上表示：“我们对第四季度的收入假设保持谨慎，在成本方面，鉴于我们目前看到的强劲回报和合规性，我们决定进一步加大对移动营销的投资在组织中。”</blockquote></p><p> For the fourth quarter, Activision Blizzard said it will roll out “Call of Duty: Vanguard” on Friday, and the franchise’s “Warzone Pacific” update on Dec. 5. Other anticipated titles, however, are getting delayed.</p><p><blockquote>对于第四季度，动视暴雪表示将于周五推出《使命看涨期权：先锋》，并于12月5日推出该系列的《战区太平洋》更新。然而，其他预期的标题正在被推迟。</blockquote></p><p> “While we are still planning to deliver a substantial amount of content from Blizzard next year, we are now planning for a later launch for ‘Overwatch 2’ and ‘Diablo IV’ than originally envisaged,” Daniel Alegre, the company’s chief operating officer, said on the call. “These are two of the most eagerly anticipated titles in the industry, and our teams have made great strides towards completion in recent quarters.”</p><p><blockquote>该公司首席运营官Daniel Alegre在看涨期权上表示：“虽然我们仍计划明年从暴雪提供大量内容，但我们现在计划推出《守望先锋2》和《暗黑破坏神4》的时间比最初设想的要晚。”“这是业内最受期待的两个游戏，我们的团队最近几个季度在完成方面取得了长足的进步。”</blockquote></p><p> Delays in releases have become more commonplace as publishers seek to avoid releasing games that may still have bugs, especially since CD Projekt SA’s&nbsp;long-awaited and long-overdue release last year of “Cyberpunk 2077” that forced distributors like Sony Group Corp.&nbsp;to offer full refunds.</p><p><blockquote>随着发行商试图避免发布可能仍有漏洞的游戏，发行延迟变得越来越普遍，特别是自CD Projekt SA去年发布期待已久的《赛博朋克2077》以来，该游戏迫使索尼集团公司等发行商提供全额退款。</blockquote></p><p> The company reported third-quarter net income of $639 million, or 82 cents a share, compared with $604 million, or 78 cents a share, in the year-ago period.&nbsp;Activision said adjusted earnings, which exclude share-based compensation expenses and other items, rose 89 cents a share from 88 cents a share in the year-ago period.</p><p><blockquote>该公司报告第三季度净利润为6.39亿美元，即每股82美分，而去年同期为6.04亿美元，即每股78美分。动视暴雪表示，调整后的收益（不包括股权激励费用和其他项目）从去年同期的每股88美分上涨了89美分。</blockquote></p><p> Revenue rose to $2.07 billion from $1.95 billion in the year-ago quarter, while bookings increased to $1.88 billion from $1.77 billion last year. Bookings represent the value of digital products and services sold during a quarter, but part of the revenue from those purchases is often recognized in future quarters.</p><p><blockquote>收入从去年同期的19.5亿美元增至20.7亿美元，预订量从去年同期的17.7亿美元增至18.8亿美元。预订代表一个季度内销售的数字产品和服务的价值，但这些购买的部分收入通常会在未来几个季度确认。</blockquote></p><p> Analysts surveyed by FactSet had forecast 70 cents a share on revenue of $1.88 billion and bookings of $1.87 billion, based on the company’s forecast of 75 cents a share on revenue of $1.97 billion and bookings of $1.85 billion.</p><p><blockquote>FactSet调查的分析师此前预测每股70美分，营收18.8亿美元，预订量18.7亿美元，而该公司预测每股75美分，营收19.7亿美元，预订量18.5亿美元。</blockquote></p><p> On the conference call, Bobby Kotick, Activision Blizzard’s chief executive, acknowledged the company fired more than 20 employees related to allegations of sexual harassment and discrimination over the past quarter, and that it is waiving arbitration requirements for future claims of harassment and discrimination. Kotick also said the company plans to increase the number of women and non-binary employees by 50% within the next five years, so they comprise about one-third of the workforce.</p><p><blockquote>在电话会议上，动视暴雪首席执行官Bobby Kotick承认，该公司在过去一个季度解雇了20多名与性骚扰和歧视指控有关的员工，并将放弃对未来骚扰和歧视指控的仲裁要求。科蒂克还表示，公司计划在未来五年内将女性和非二元员工的数量增加50%，使她们约占员工总数的三分之一。</blockquote></p><p> “Right now workplace leadership is my focus,” said Bobby Kotick, Activision Blizzard’s chief executive, on the call. “Our opportunities for growth as we’ve talked about have never been better, but we won’t be able to realize all that growth potential without talent. And to retain and attract the talent we need, we obviously have to be recognized as the very best place to work. This means we have to be the best welcoming inclusive environment.”</p><p><blockquote>动视暴雪首席执行官Bobby Kotick在看涨期权上表示：“目前，工作场所领导力是我的重点。”“正如我们所谈到的，我们的增长机会从未如此之好，但如果没有人才，我们将无法实现所有的增长潜力。为了留住和吸引我们需要的人才，我们显然必须被公认为最好的工作场所。这意味着我们必须成为最受欢迎的包容性环境。”</blockquote></p><p> Kotick also noted a 2020 review of pay equity from an outside firm showed that “women on average earned slightly more than men for comparable work in 2020,” and that Activision Blizzard was committed to equitable pay.</p><p><blockquote>科蒂克还指出，一家外部公司2020年对薪酬公平的审查显示，“2020年，从事可比工作的女性平均收入略高于男性”，动视暴雪致力于实现薪酬公平。</blockquote></p><p> Activision Blizzard publishes such games as &nbsp;“Call of Duty” through its Activision label; “World of Warcraft,” “Overwatch,” and “Diablo” through its Blizzard label, and “Candy Crush” through its King label. Last week, Activision Blizzard announced it had acquired Barcelona-based mobile game developer Digital Legends for an undisclosed price.</p><p><blockquote>动视暴雪通过旗下动视厂牌发行《使命看涨期权》等游戏；《魔兽世界》、《守望先锋》和《暗黑破坏神》通过其暴雪标签，《糖果粉碎》通过其国王标签。上周，动视暴雪宣布以未公开的价格收购了巴塞罗那手机游戏开发商Digital Legends。</blockquote></p><p></p><p> Take-Two Interactive Inc.,Electronic Arts Inc.,and Playtika Holding Corp. are scheduled to report earnings on Wednesday.</p><p><blockquote>Take-Two Interactive Inc.、Electronic Arts Inc.和Playtika Holding Corp.定于周三公布财报。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ATVI":"动视暴雪"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123197935","content_text":"Activision Blizzard Inc. shares sank in premarket trading Wednesday after the videogame publisher’s lighter-than-expected outlook and expected delay of two games eclipsed an earnings beat and commitments to a safe and equitable work environment.\nActivision Blizzard shares sank more than 11% after the earnings call. Shares fell 2.1% to close at $77.67 Tuesday to give Activision Blizzard a $60.4 billion market cap.\n\nThe company said it expects fourth-quarter adjusted earnings of 62 cents a share on revenue of $2.02 billion and bookings of $2.78 billion. The company also raised its full-year forecast to earnings of $3.70 a share on revenue of $8.66 billion and bookings of $8.65 billion, compared with its quarter-ago forecast of $3.54 a share on revenue of $8.52 billion and bookings of $8.65 billion for the year.\nAnalysts, however, estimated earnings of $1.38 a share on revenue of $2.91 billion and bookings of $2.89 billion for the fourth quarter, and earnings of $3.83 a share on revenue of $8.79 billion and bookings of $8.76 billion for the year.\nActivision Blizzard Chief Financial Officer Armin Zerza said on the call “we remain prudent in our revenue assumption for the fourth quarter, and regarding costs we have decided to further step up investment in mobile marketing given the strong returns we are currently seeing and compliance in the organization.”\nFor the fourth quarter, Activision Blizzard said it will roll out “Call of Duty: Vanguard” on Friday, and the franchise’s “Warzone Pacific” update on Dec. 5. Other anticipated titles, however, are getting delayed.\n“While we are still planning to deliver a substantial amount of content from Blizzard next year, we are now planning for a later launch for ‘Overwatch 2’ and ‘Diablo IV’ than originally envisaged,” Daniel Alegre, the company’s chief operating officer, said on the call. “These are two of the most eagerly anticipated titles in the industry, and our teams have made great strides towards completion in recent quarters.”\nDelays in releases have become more commonplace as publishers seek to avoid releasing games that may still have bugs, especially since CD Projekt SA’s long-awaited and long-overdue release last year of “Cyberpunk 2077” that forced distributors like Sony Group Corp. to offer full refunds.\nThe company reported third-quarter net income of $639 million, or 82 cents a share, compared with $604 million, or 78 cents a share, in the year-ago period. Activision said adjusted earnings, which exclude share-based compensation expenses and other items, rose 89 cents a share from 88 cents a share in the year-ago period.\nRevenue rose to $2.07 billion from $1.95 billion in the year-ago quarter, while bookings increased to $1.88 billion from $1.77 billion last year. Bookings represent the value of digital products and services sold during a quarter, but part of the revenue from those purchases is often recognized in future quarters.\nAnalysts surveyed by FactSet had forecast 70 cents a share on revenue of $1.88 billion and bookings of $1.87 billion, based on the company’s forecast of 75 cents a share on revenue of $1.97 billion and bookings of $1.85 billion.\nOn the conference call, Bobby Kotick, Activision Blizzard’s chief executive, acknowledged the company fired more than 20 employees related to allegations of sexual harassment and discrimination over the past quarter, and that it is waiving arbitration requirements for future claims of harassment and discrimination. Kotick also said the company plans to increase the number of women and non-binary employees by 50% within the next five years, so they comprise about one-third of the workforce.\n“Right now workplace leadership is my focus,” said Bobby Kotick, Activision Blizzard’s chief executive, on the call. “Our opportunities for growth as we’ve talked about have never been better, but we won’t be able to realize all that growth potential without talent. And to retain and attract the talent we need, we obviously have to be recognized as the very best place to work. This means we have to be the best welcoming inclusive environment.”\nKotick also noted a 2020 review of pay equity from an outside firm showed that “women on average earned slightly more than men for comparable work in 2020,” and that Activision Blizzard was committed to equitable pay.\nActivision Blizzard publishes such games as  “Call of Duty” through its Activision label; “World of Warcraft,” “Overwatch,” and “Diablo” through its Blizzard label, and “Candy Crush” through its King label. Last week, Activision Blizzard announced it had acquired Barcelona-based mobile game developer Digital Legends for an undisclosed price.\nTake-Two Interactive Inc.,Electronic Arts Inc.,and Playtika Holding Corp. are scheduled to report earnings on Wednesday.","news_type":1,"symbols_score_info":{"ATVI":0.9}},"isVote":1,"tweetType":1,"viewCount":3146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":843421683,"gmtCreate":1635852232351,"gmtModify":1635852233113,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Bleh","listText":"Bleh","text":"Bleh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/843421683","repostId":"1167795347","repostType":4,"isVote":1,"tweetType":1,"viewCount":948,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":851606283,"gmtCreate":1634898783311,"gmtModify":1634898786262,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Toh","listText":"Toh","text":"Toh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/851606283","repostId":"1169239209","repostType":4,"repost":{"id":"1169239209","kind":"news","pubTimestamp":1634896805,"share":"https://www.laohu8.com/m/news/1169239209?lang=zh_CN&edition=full","pubTime":"2021-10-22 18:00","market":"us","language":"en","title":"Investors Bet Inflation Pressures Will Linger<blockquote>投资者押注通胀压力将持续存在</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169239209","media":"The Wall Street Journal","summary":"The 10-year break-even rate suggests that the consumer-price index will rise by an annual average of","content":"<p>  <b>The 10-year break-even rate suggests that the consumer-price index will rise by an annual average of 2.57% over the next decade, worrying some investors.</b>  A key measure of investors’ inflation expectations has climbed in recent weeks, adding fuel to concerns about rising consumer prices.</p><p><blockquote><b>10年盈亏平衡率表明，未来十年消费者价格指数将年均上涨2.57%，这令一些投资者感到担忧。</b>最近几周，衡量投资者通胀预期的一项关键指标攀升，加剧了人们对消费者价格上涨的担忧。</blockquote></p><p> As of Wednesday, the gauge known as the 10-year break-even rate suggested that the consumer-price index will rise by an annual average of 2.57% over the next decade, according to Federal Reserve Economic Data, or FRED. That is up from a recent low of 2.28% in late September and the highest level since 2013.</p><p><blockquote>根据美联储经济数据（FRED），截至周三，10年期盈亏平衡率指标表明，未来十年消费者价格指数将年均上涨2.57%。这高于9月底2.28%的近期低点，也是2013年以来的最高水平。</blockquote></p><p> The break-even rate is found by looking at the difference in yields between nominal Treasury bonds and Treasury inflation-protected securities, or TIPS. The rate is so called because TIPS holders can earn the same return as holders of nominal Treasurys if average annual CPI inflation matches that gap over the life of the bonds.</p><p><blockquote>盈亏平衡率是通过查看名义国债和通胀保值国债（TIPS）之间的收益率差异来确定的。之所以如此称呼该利率，是因为如果平均年CPI通胀率与债券期限内的差距相匹配，TIPS持有者可以获得与名义国债持有者相同的回报。</blockquote></p><p> Rising break-even rates worry some investors because the move suggests current inflation pressures could last longer than previously expected. The Labor Department said on Oct. 13 that last month’s consumer-price indexrose by 5.4% from a year earlier, in unadjusted terms. While that index tends to run slightly higher than the Federal Reserve’s preferred inflation gauge, the data still confirmed that inflation is much higher than the central bank’s 2% annual target.</p><p><blockquote>盈亏平衡率的上升令一些投资者感到担忧，因为此举表明当前的通胀压力可能会比此前预期的持续时间更长。美国劳工部10月13日表示，未经调整的上个月消费者价格指数同比上涨5.4%。尽管该指数往往略高于美联储首选的通胀指标，但数据仍证实通胀远高于央行2%的年度目标。</blockquote></p><p> Investors and analysts generally expect inflation to cool in the coming months as businesses ramp up the supply of goods to meet consumer demand and consumers further ease supply-chain pressures by returning to more normal spending patterns—purchasing fewer goods and more services. Many, though, have revised their forecasts upward in light of surging energy prices, rising rents andincreasing evidence of a tightening employment market.</p><p><blockquote>投资者和分析师普遍预计，随着企业增加商品供应以满足消费者需求，消费者通过回归更正常的支出模式——购买更少的商品和更多的服务——进一步缓解供应链压力，通胀将在未来几个月降温。不过，鉴于能源价格飙升、租金上涨以及就业市场收紧的证据越来越多，许多人上调了预测。</blockquote></p><p> Some analysts caution that break-even rates still don’t suggest serious concern about longer-term inflation, though they may be heading in that direction. Yield differentials between nominal and inflation-protected securities, for example, suggest CPI inflation&nbsp;will moderate to 2.6%&nbsp;in five yearsthen&nbsp;drop down to just below 2% about a decade from now. And even those numbers could overstate baseline expectations because break-evens can also rise based on increasing uncertainty about the inflation outlook.</p><p><blockquote>一些分析师警告说，盈亏平衡率仍然不表明对长期通胀的严重担忧，尽管它们可能正朝着这个方向发展。例如，名义证券和通胀保值证券之间的收益率差异表明，CPI通胀率将在五年内放缓至2.6%，然后在大约十年后降至略低于2%。即使是这些数字也可能夸大基线预期，因为盈亏平衡也可能因通胀前景不确定性的增加而上升。</blockquote></p><p> “Break-evens are flashing maybe a yellow light here, but certainly not a red light,” said Michael Pond, head of global inflation-linked research atBarclays PLC.</p><p><blockquote>巴克莱银行全球通胀相关研究主管迈克尔·庞德表示：“盈亏平衡在这里可能是黄灯，但肯定不是红灯。”</blockquote></p><p> Several factors have lifted break-even rates this year, including a vaccine-fueled economic recovery, massive amounts of government stimulus and consistent messaging from central bankers that the Fed will be patient in its approach to tightening monetary policy.</p><p><blockquote>今年有几个因素提高了盈亏平衡利率，包括疫苗推动的经济复苏、政府的大量刺激措施以及央行行长们一致发出的美联储将对收紧货币政策保持耐心的信息。</blockquote></p><p> Last year, Fed officials announceda new policy framework, stating they would welcome inflation being modestly above their 2% target for a time to make up for the extended period it has spent below that level.</p><p><blockquote>去年，美联储官员宣布了新的政策框架，表示他们欢迎通胀暂时略高于2%的目标，以弥补长期低于该水平的情况。</blockquote></p><p> Investors’ concerns over inflation have ebbed and flowed this year, but have clearly increased lately, driving a flood of cash toward inflation-protected bonds. About $2.1 billion on net was funneled into mutual and exchange-traded funds that focus on TIPS during the two weeks ending Oct. 13, according to Refinitiv Lipper data, the largest two-week inflow in more than two months. That compared with a net outflow of $1.7 billion from all taxable bond funds during the same period.</p><p><blockquote>投资者对通胀的担忧今年时好时坏，但最近明显加剧，推动大量现金流向通胀保值债券。根据Refinitiv Lipper的数据，截至10月13日的两周内，约有21亿美元净流入专注于TIPS的共同基金和交易所交易基金，这是两个多月来最大的两周流入量。相比之下，同期所有应税债券基金净流出17亿美元。</blockquote></p><p> Fed officials themselves have recentlyexpressed concernsthat disrupted supply chains were raising the risks of more persistent inflation. At the same time, Chairman Jerome Powell has said the central bank doesn’t expect the current spike in consumer prices to lead to a new regime in which inflation remains high year after year.</p><p><blockquote>美联储官员自己最近也表达了担忧，即供应链中断正在增加通胀更加持续的风险。与此同时，主席杰罗姆·鲍威尔表示，央行预计当前消费者价格飙升不会导致通胀年复一年居高不下的新制度。</blockquote></p><p> Break-even rates, notably, have climbed even as investors have pulled forward their forecasts for when the Fed will start to raise interest rates. Federal-funds futures, which investors use to wager on interest rate policy, recently showed a 51% chance of a rate increase by July 2022 and 75% by September 2022. That is up from around 15% and 27% a month ago, respectively.</p><p><blockquote>值得注意的是，尽管投资者提前了对美联储何时开始加息的预测，但盈亏平衡利率仍在攀升。投资者用来押注利率政策的联邦基金期货最近显示，到2022年7月加息的可能性为51%，到2022年9月加息的可能性为75%。这一比例分别高于一个月前的15%和27%左右。</blockquote></p><p> “The question right now is at what point does the pull forward [in rate increases] and possible tightening make investors believe that central banks can slow the growth of inflation,” said Jim Vogel, interest-rates strategist at FHN Financial.</p><p><blockquote>FHN Financial利率策略师吉姆·沃格尔(Jim Vogel)表示：“现在的问题是，（加息）的推进和可能的紧缩政策在什么时候会让投资者相信央行可以减缓通胀的增长。”</blockquote></p><p> Raising interest rates typically slows economic growth by increasing borrowing costs and pushing consumers to spend less, thereby cooling inflation as well.</p><p><blockquote>加息通常会通过增加借贷成本和促使消费者减少支出来减缓经济增长，从而冷却通胀。</blockquote></p><p> Shorter-dated inflation expectations can continue to rise with commodity price concerns, but it has been surprising that the market’s pulling forward of interest-rate hikes hasn’t done more to arrest the rise in investors’ inflation expectations, some analysts say.</p><p><blockquote>一些分析师表示，随着大宗商品价格担忧，短期通胀预期可能会继续上升，但令人惊讶的是，市场提前加息并没有起到更多作用来阻止投资者通胀预期的上升。</blockquote></p><p></p><p> Still, rising interest-rate expectations and inflation forecasts aren’t incompatible, Barclays’ Mr. Pond said. Even if the Fed starts raising interest rates next year, it could still be years before rates reach the so-called neutral level that officials believe would neither stimulate nor slow the economy.</p><p><blockquote>巴克莱银行的庞德表示，尽管如此，加息预期和通胀预测并非不相容。即使美联储明年开始加息，利率仍可能需要数年时间才能达到所谓的中性水平，官员们认为这既不会刺激也不会减缓经济。</blockquote></p><p> “The Fed is saying we’re going to continue to run a stimulative policy even as we see inflation above our target over the next three years,” he said.</p><p><blockquote>他表示：“美联储表示，即使我们看到未来三年通胀高于目标，我们仍将继续实施刺激政策。”</blockquote></p><p></p>","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>Investors Bet Inflation Pressures Will Linger<blockquote>投资者押注通胀压力将持续存在</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\">\nInvestors Bet Inflation Pressures Will Linger<blockquote>投资者押注通胀压力将持续存在</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-10-22 18:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>The 10-year break-even rate suggests that the consumer-price index will rise by an annual average of 2.57% over the next decade, worrying some investors.</b>  A key measure of investors’ inflation expectations has climbed in recent weeks, adding fuel to concerns about rising consumer prices.</p><p><blockquote><b>10年盈亏平衡率表明，未来十年消费者价格指数将年均上涨2.57%，这令一些投资者感到担忧。</b>最近几周，衡量投资者通胀预期的一项关键指标攀升，加剧了人们对消费者价格上涨的担忧。</blockquote></p><p> As of Wednesday, the gauge known as the 10-year break-even rate suggested that the consumer-price index will rise by an annual average of 2.57% over the next decade, according to Federal Reserve Economic Data, or FRED. That is up from a recent low of 2.28% in late September and the highest level since 2013.</p><p><blockquote>根据美联储经济数据（FRED），截至周三，10年期盈亏平衡率指标表明，未来十年消费者价格指数将年均上涨2.57%。这高于9月底2.28%的近期低点，也是2013年以来的最高水平。</blockquote></p><p> The break-even rate is found by looking at the difference in yields between nominal Treasury bonds and Treasury inflation-protected securities, or TIPS. The rate is so called because TIPS holders can earn the same return as holders of nominal Treasurys if average annual CPI inflation matches that gap over the life of the bonds.</p><p><blockquote>盈亏平衡率是通过查看名义国债和通胀保值国债（TIPS）之间的收益率差异来确定的。之所以如此称呼该利率，是因为如果平均年CPI通胀率与债券期限内的差距相匹配，TIPS持有者可以获得与名义国债持有者相同的回报。</blockquote></p><p> Rising break-even rates worry some investors because the move suggests current inflation pressures could last longer than previously expected. The Labor Department said on Oct. 13 that last month’s consumer-price indexrose by 5.4% from a year earlier, in unadjusted terms. While that index tends to run slightly higher than the Federal Reserve’s preferred inflation gauge, the data still confirmed that inflation is much higher than the central bank’s 2% annual target.</p><p><blockquote>盈亏平衡率的上升令一些投资者感到担忧，因为此举表明当前的通胀压力可能会比此前预期的持续时间更长。美国劳工部10月13日表示，未经调整的上个月消费者价格指数同比上涨5.4%。尽管该指数往往略高于美联储首选的通胀指标，但数据仍证实通胀远高于央行2%的年度目标。</blockquote></p><p> Investors and analysts generally expect inflation to cool in the coming months as businesses ramp up the supply of goods to meet consumer demand and consumers further ease supply-chain pressures by returning to more normal spending patterns—purchasing fewer goods and more services. Many, though, have revised their forecasts upward in light of surging energy prices, rising rents andincreasing evidence of a tightening employment market.</p><p><blockquote>投资者和分析师普遍预计，随着企业增加商品供应以满足消费者需求，消费者通过回归更正常的支出模式——购买更少的商品和更多的服务——进一步缓解供应链压力，通胀将在未来几个月降温。不过，鉴于能源价格飙升、租金上涨以及就业市场收紧的证据越来越多，许多人上调了预测。</blockquote></p><p> Some analysts caution that break-even rates still don’t suggest serious concern about longer-term inflation, though they may be heading in that direction. Yield differentials between nominal and inflation-protected securities, for example, suggest CPI inflation&nbsp;will moderate to 2.6%&nbsp;in five yearsthen&nbsp;drop down to just below 2% about a decade from now. And even those numbers could overstate baseline expectations because break-evens can also rise based on increasing uncertainty about the inflation outlook.</p><p><blockquote>一些分析师警告说，盈亏平衡率仍然不表明对长期通胀的严重担忧，尽管它们可能正朝着这个方向发展。例如，名义证券和通胀保值证券之间的收益率差异表明，CPI通胀率将在五年内放缓至2.6%，然后在大约十年后降至略低于2%。即使是这些数字也可能夸大基线预期，因为盈亏平衡也可能因通胀前景不确定性的增加而上升。</blockquote></p><p> “Break-evens are flashing maybe a yellow light here, but certainly not a red light,” said Michael Pond, head of global inflation-linked research atBarclays PLC.</p><p><blockquote>巴克莱银行全球通胀相关研究主管迈克尔·庞德表示：“盈亏平衡在这里可能是黄灯，但肯定不是红灯。”</blockquote></p><p> Several factors have lifted break-even rates this year, including a vaccine-fueled economic recovery, massive amounts of government stimulus and consistent messaging from central bankers that the Fed will be patient in its approach to tightening monetary policy.</p><p><blockquote>今年有几个因素提高了盈亏平衡利率，包括疫苗推动的经济复苏、政府的大量刺激措施以及央行行长们一致发出的美联储将对收紧货币政策保持耐心的信息。</blockquote></p><p> Last year, Fed officials announceda new policy framework, stating they would welcome inflation being modestly above their 2% target for a time to make up for the extended period it has spent below that level.</p><p><blockquote>去年，美联储官员宣布了新的政策框架，表示他们欢迎通胀暂时略高于2%的目标，以弥补长期低于该水平的情况。</blockquote></p><p> Investors’ concerns over inflation have ebbed and flowed this year, but have clearly increased lately, driving a flood of cash toward inflation-protected bonds. About $2.1 billion on net was funneled into mutual and exchange-traded funds that focus on TIPS during the two weeks ending Oct. 13, according to Refinitiv Lipper data, the largest two-week inflow in more than two months. That compared with a net outflow of $1.7 billion from all taxable bond funds during the same period.</p><p><blockquote>投资者对通胀的担忧今年时好时坏，但最近明显加剧，推动大量现金流向通胀保值债券。根据Refinitiv Lipper的数据，截至10月13日的两周内，约有21亿美元净流入专注于TIPS的共同基金和交易所交易基金，这是两个多月来最大的两周流入量。相比之下，同期所有应税债券基金净流出17亿美元。</blockquote></p><p> Fed officials themselves have recentlyexpressed concernsthat disrupted supply chains were raising the risks of more persistent inflation. At the same time, Chairman Jerome Powell has said the central bank doesn’t expect the current spike in consumer prices to lead to a new regime in which inflation remains high year after year.</p><p><blockquote>美联储官员自己最近也表达了担忧，即供应链中断正在增加通胀更加持续的风险。与此同时，主席杰罗姆·鲍威尔表示，央行预计当前消费者价格飙升不会导致通胀年复一年居高不下的新制度。</blockquote></p><p> Break-even rates, notably, have climbed even as investors have pulled forward their forecasts for when the Fed will start to raise interest rates. Federal-funds futures, which investors use to wager on interest rate policy, recently showed a 51% chance of a rate increase by July 2022 and 75% by September 2022. That is up from around 15% and 27% a month ago, respectively.</p><p><blockquote>值得注意的是，尽管投资者提前了对美联储何时开始加息的预测，但盈亏平衡利率仍在攀升。投资者用来押注利率政策的联邦基金期货最近显示，到2022年7月加息的可能性为51%，到2022年9月加息的可能性为75%。这一比例分别高于一个月前的15%和27%左右。</blockquote></p><p> “The question right now is at what point does the pull forward [in rate increases] and possible tightening make investors believe that central banks can slow the growth of inflation,” said Jim Vogel, interest-rates strategist at FHN Financial.</p><p><blockquote>FHN Financial利率策略师吉姆·沃格尔(Jim Vogel)表示：“现在的问题是，（加息）的推进和可能的紧缩政策在什么时候会让投资者相信央行可以减缓通胀的增长。”</blockquote></p><p> Raising interest rates typically slows economic growth by increasing borrowing costs and pushing consumers to spend less, thereby cooling inflation as well.</p><p><blockquote>加息通常会通过增加借贷成本和促使消费者减少支出来减缓经济增长，从而冷却通胀。</blockquote></p><p> Shorter-dated inflation expectations can continue to rise with commodity price concerns, but it has been surprising that the market’s pulling forward of interest-rate hikes hasn’t done more to arrest the rise in investors’ inflation expectations, some analysts say.</p><p><blockquote>一些分析师表示，随着大宗商品价格担忧，短期通胀预期可能会继续上升，但令人惊讶的是，市场提前加息并没有起到更多作用来阻止投资者通胀预期的上升。</blockquote></p><p></p><p> Still, rising interest-rate expectations and inflation forecasts aren’t incompatible, Barclays’ Mr. Pond said. Even if the Fed starts raising interest rates next year, it could still be years before rates reach the so-called neutral level that officials believe would neither stimulate nor slow the economy.</p><p><blockquote>巴克莱银行的庞德表示，尽管如此，加息预期和通胀预测并非不相容。即使美联储明年开始加息，利率仍可能需要数年时间才能达到所谓的中性水平，官员们认为这既不会刺激也不会减缓经济。</blockquote></p><p> “The Fed is saying we’re going to continue to run a stimulative policy even as we see inflation above our target over the next three years,” he said.</p><p><blockquote>他表示：“美联储表示，即使我们看到未来三年通胀高于目标，我们仍将继续实施刺激政策。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/investors-bet-inflation-pressures-will-linger-11634849018?mod=markets_lead_pos5\">The Wall Street Journal</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":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.wsj.com/articles/investors-bet-inflation-pressures-will-linger-11634849018?mod=markets_lead_pos5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169239209","content_text":"The 10-year break-even rate suggests that the consumer-price index will rise by an annual average of 2.57% over the next decade, worrying some investors.\n\nA key measure of investors’ inflation expectations has climbed in recent weeks, adding fuel to concerns about rising consumer prices.\nAs of Wednesday, the gauge known as the 10-year break-even rate suggested that the consumer-price index will rise by an annual average of 2.57% over the next decade, according to Federal Reserve Economic Data, or FRED. That is up from a recent low of 2.28% in late September and the highest level since 2013.\nThe break-even rate is found by looking at the difference in yields between nominal Treasury bonds and Treasury inflation-protected securities, or TIPS. The rate is so called because TIPS holders can earn the same return as holders of nominal Treasurys if average annual CPI inflation matches that gap over the life of the bonds.\nRising break-even rates worry some investors because the move suggests current inflation pressures could last longer than previously expected. The Labor Department said on Oct. 13 that last month’s consumer-price indexrose by 5.4% from a year earlier, in unadjusted terms. While that index tends to run slightly higher than the Federal Reserve’s preferred inflation gauge, the data still confirmed that inflation is much higher than the central bank’s 2% annual target.\nInvestors and analysts generally expect inflation to cool in the coming months as businesses ramp up the supply of goods to meet consumer demand and consumers further ease supply-chain pressures by returning to more normal spending patterns—purchasing fewer goods and more services. Many, though, have revised their forecasts upward in light of surging energy prices, rising rents andincreasing evidence of a tightening employment market.\nSome analysts caution that break-even rates still don’t suggest serious concern about longer-term inflation, though they may be heading in that direction. Yield differentials between nominal and inflation-protected securities, for example, suggest CPI inflation will moderate to 2.6% in five yearsthen drop down to just below 2% about a decade from now. And even those numbers could overstate baseline expectations because break-evens can also rise based on increasing uncertainty about the inflation outlook.\n“Break-evens are flashing maybe a yellow light here, but certainly not a red light,” said Michael Pond, head of global inflation-linked research atBarclays PLC.\nSeveral factors have lifted break-even rates this year, including a vaccine-fueled economic recovery, massive amounts of government stimulus and consistent messaging from central bankers that the Fed will be patient in its approach to tightening monetary policy.\nLast year, Fed officials announceda new policy framework, stating they would welcome inflation being modestly above their 2% target for a time to make up for the extended period it has spent below that level.\nInvestors’ concerns over inflation have ebbed and flowed this year, but have clearly increased lately, driving a flood of cash toward inflation-protected bonds. About $2.1 billion on net was funneled into mutual and exchange-traded funds that focus on TIPS during the two weeks ending Oct. 13, according to Refinitiv Lipper data, the largest two-week inflow in more than two months. That compared with a net outflow of $1.7 billion from all taxable bond funds during the same period.\nFed officials themselves have recentlyexpressed concernsthat disrupted supply chains were raising the risks of more persistent inflation. At the same time, Chairman Jerome Powell has said the central bank doesn’t expect the current spike in consumer prices to lead to a new regime in which inflation remains high year after year.\nBreak-even rates, notably, have climbed even as investors have pulled forward their forecasts for when the Fed will start to raise interest rates. Federal-funds futures, which investors use to wager on interest rate policy, recently showed a 51% chance of a rate increase by July 2022 and 75% by September 2022. That is up from around 15% and 27% a month ago, respectively.\n“The question right now is at what point does the pull forward [in rate increases] and possible tightening make investors believe that central banks can slow the growth of inflation,” said Jim Vogel, interest-rates strategist at FHN Financial.\nRaising interest rates typically slows economic growth by increasing borrowing costs and pushing consumers to spend less, thereby cooling inflation as well.\nShorter-dated inflation expectations can continue to rise with commodity price concerns, but it has been surprising that the market’s pulling forward of interest-rate hikes hasn’t done more to arrest the rise in investors’ inflation expectations, some analysts say.\nStill, rising interest-rate expectations and inflation forecasts aren’t incompatible, Barclays’ Mr. Pond said. Even if the Fed starts raising interest rates next year, it could still be years before rates reach the so-called neutral level that officials believe would neither stimulate nor slow the economy.\n“The Fed is saying we’re going to continue to run a stimulative policy even as we see inflation above our target over the next three years,” he said.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":1350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":853434598,"gmtCreate":1634828489503,"gmtModify":1634828492138,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Ahah","listText":"Ahah","text":"Ahah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/853434598","repostId":"1174670603","repostType":4,"isVote":1,"tweetType":1,"viewCount":1536,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":859793595,"gmtCreate":1634731344377,"gmtModify":1634731347484,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Whack","listText":"Whack","text":"Whack","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/859793595","repostId":"2176875174","repostType":4,"isVote":1,"tweetType":1,"viewCount":738,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":826438131,"gmtCreate":1634046284523,"gmtModify":1634046287290,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/826438131","repostId":"866461204","repostType":1,"repost":{"id":866461204,"gmtCreate":1632797447703,"gmtModify":1632799653760,"author":{"id":"9000000000000419","authorId":"9000000000000419","name":"WallStreet_Tiger","avatar":"https://static.tigerbbs.com/eb8b72f48dd1c8d3451a5d8f8a51f42e","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"9000000000000419","idStr":"9000000000000419"},"themes":[],"title":"Top 10 Stocks Popular on WallStreetBets 9/28","htmlText":"These&nbsp;10&nbsp;stocks&nbsp;are&nbsp;the&nbsp;most&nbsp;popular&nbsp;on&nbsp;WallStreetBets&nbsp;for&nbsp;the&nbsp;last&nbsp;24&nbsp;hours: <a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a> <a href=\"https://laohu8.com/S/GOEV\">$Canoo Inc.(GOEV)$</a> <a href=\"https://laohu8.com/S/SDC\">$SmileDirectClub, Inc.(SDC)$</a> <a href=\"https://laohu8.com/S/CLNE\">$Clean Energy Fuels(CLNE)$</a> <a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a> <a href=\"https://laohu8.com/S/SOFI\">$SoFi Technologies Inc.(SOFI)$</a> <a href=\"https://laohu8.com/S/AMZN\">$Amazon.com(AMZN)$</a> <a href=\"https://laohu8.com/S/WISH\">$ContextLogic Inc.(WISH)$</a> <a href=\"https://laohu8.com/S/CLOV\">$Clover Health Corp(CLOV)$</a> <a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>","listText":"These&nbsp;10&nbsp;stocks&nbsp;are&nbsp;the&nbsp;most&nbsp;popular&nbsp;on&nbsp;WallStreetBets&nbsp;for&nbsp;the&nbsp;last&nbsp;24&nbsp;hours: <a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a> <a href=\"https://laohu8.com/S/GOEV\">$Canoo Inc.(GOEV)$</a> <a href=\"https://laohu8.com/S/SDC\">$SmileDirectClub, Inc.(SDC)$</a> <a href=\"https://laohu8.com/S/CLNE\">$Clean Energy Fuels(CLNE)$</a> <a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a> <a href=\"https://laohu8.com/S/SOFI\">$SoFi Technologies Inc.(SOFI)$</a> <a href=\"https://laohu8.com/S/AMZN\">$Amazon.com(AMZN)$</a> <a href=\"https://laohu8.com/S/WISH\">$ContextLogic Inc.(WISH)$</a> <a href=\"https://laohu8.com/S/CLOV\">$Clover Health Corp(CLOV)$</a> <a href=\"https://laohu8.com/S/PLTR\">$Palantir Technologies Inc.(PLTR)$</a>","text":"These 10 stocks are the most popular on WallStreetBets for the last 24 hours: $Tesla Motors(TSLA)$ $Canoo Inc.(GOEV)$ $SmileDirectClub, Inc.(SDC)$ $Clean Energy Fuels(CLNE)$ $Alibaba(BABA)$ $SoFi Technologies Inc.(SOFI)$ $Amazon.com(AMZN)$ $ContextLogic Inc.(WISH)$ $Clover Health Corp(CLOV)$ $Palantir Technologies Inc.(PLTR)$","images":[{"img":"https://static.tigerbbs.com/32375ff0ec702e7c6927fd08f672bbe8","width":"-1","height":"-1"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/866461204","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":821715768,"gmtCreate":1633789525478,"gmtModify":1633789526161,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/821715768","repostId":"2174920514","repostType":4,"isVote":1,"tweetType":1,"viewCount":1371,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":829824091,"gmtCreate":1633489516171,"gmtModify":1633489518989,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/829824091","repostId":"1101968131","repostType":4,"isVote":1,"tweetType":1,"viewCount":1102,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":864438259,"gmtCreate":1633137393398,"gmtModify":1633137396083,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/864438259","repostId":"1109907248","repostType":4,"isVote":1,"tweetType":1,"viewCount":699,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":865413017,"gmtCreate":1633010371101,"gmtModify":1633010373760,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Li","listText":"Li","text":"Li","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/865413017","repostId":"1190243332","repostType":4,"isVote":1,"tweetType":1,"viewCount":1191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":868936152,"gmtCreate":1632570072776,"gmtModify":1632656502113,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3556756933727652","idStr":"3556756933727652"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/868936152","repostId":"1149730497","repostType":4,"isVote":1,"tweetType":1,"viewCount":773,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":181233720,"gmtCreate":1623395248560,"gmtModify":1634033794344,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556756933727652","authorIdStr":"3556756933727652"},"themes":[],"htmlText":"Comment 2","listText":"Comment 2","text":"Comment 2","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/181233720","repostId":"1153926665","repostType":4,"isVote":1,"tweetType":1,"viewCount":353,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354274553,"gmtCreate":1617183467672,"gmtModify":1634522218180,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556756933727652","authorIdStr":"3556756933727652"},"themes":[],"htmlText":"Pls help like and comment&nbsp;","listText":"Pls help like and comment&nbsp;","text":"Pls help like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/354274553","repostId":"1196818239","repostType":4,"isVote":1,"tweetType":1,"viewCount":608,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814758569,"gmtCreate":1630887180551,"gmtModify":1631890542900,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556756933727652","authorIdStr":"3556756933727652"},"themes":[],"htmlText":"Need like","listText":"Need like","text":"Need like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/814758569","repostId":"1126654067","repostType":4,"repost":{"id":"1126654067","kind":"news","pubTimestamp":1630885254,"share":"https://www.laohu8.com/m/news/1126654067?lang=zh_CN&edition=full","pubTime":"2021-09-06 07:40","market":"us","language":"en","title":"Is the U.S. stock market open on Labor Day?<blockquote>劳动节美股开市吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1126654067","media":"MarketWatch","summary":"It is unofficially summer’s last hurrah for Wall Street investors.\nU.S. financial markets will be cl","content":"<p>It is unofficially summer’s last hurrah for Wall Street investors.</p><p><blockquote>对于华尔街投资者来说，这是非正式的夏季最后一次欢呼。</blockquote></p><p> U.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has been a mostly spectacular run for the stock market. The rally came despite concerns about the spread of the delta variant of the coronavirus and unease about the timetable for an eventual rollback of easy-money policies implemented by the Federal Reserve at the onset of the pandemic last year.</p><p><blockquote>美国金融市场将于9月6日周一因劳动节休市，这标志着美国为期三天的周末，此前股市经历了一段非常壮观的走势。尽管人们担心冠状病毒德尔塔变异毒株的蔓延，并对美联储去年大流行开始时实施的宽松货币政策最终回滚的时间表感到不安，但股市还是出现了反弹。</blockquote></p><p> On Monday, U.S. stock exchanges, including the Intercontinental Exchange Inc.&nbsp;-owned New York Stock Exchange and Nasdaq Inc.,will be closed, so don’t look for any action in individual stocks or indexes including the Dow Jones Industrial Average,&nbsp;S&amp;P 500&nbsp;or Nasdaq Composite indexes.</p><p><blockquote>周一，包括洲际交易所旗下的纽约证券交易所和纳斯达克在内的美国证券交易所将休市，因此不要寻找道琼斯工业平均指数、标准普尔500指数或纳斯达克综合指数等个股或指数的任何走势。</blockquote></p><p> The S&amp;P 500 has already notched 54 record closing highs in 2021 and was looking for its 55th on Friday, while the Nasdaq Composite&nbsp;was on track to book its 35th&nbsp;all-time high of the year. The Dow stood less than a percentage point from its Aug. 16 record, mid-afternoon Friday.</p><p><blockquote>标普500在2021年已经创下了54个历史收盘新高，并有望在周五创下第55个历史新高，而纳斯达克综合指数有望创下今年第35个历史新高。周五下午，道琼斯指数较8月16日的纪录上涨了不到一个百分点。</blockquote></p><p> Sifma, the securities-industry trade group for fixed-income, also has recommended the bond market close on Labor Day, including trading in the 10-year Treasury note,which was&nbsp;yielding around 1.33%&nbsp;after the U.S. August jobs report came in weaker than expected.</p><p><blockquote>证券业固定收益贸易组织Sifma也建议债券市场在劳动节休市，包括10年期国债交易，在美国8月就业报告公布后，该国债收益率约为1.33%。低于预期。</blockquote></p><p> However, the&nbsp;Labor Department’s employment report,which showed that&nbsp;235,000 jobs were created in August, far below expectations for more than 700,000, failed to dull expectations among sovereign debt investors for a near-term announcement of tapering of the Fed’s $120 billion in monthly purchases in Treasurys and mortgage-backed securities.</p><p><blockquote>然而，美国劳工部的就业报告显示，8月份新增就业岗位23.5万个，远低于预期的70多万个，但这未能降低主权债务投资者对美联储近期宣布缩减每月1200亿美元美国国债和抵押贷款支持证券购买规模的预期。</blockquote></p><p> Trading in most commodity futures, including Nymex crude-oil&nbsp;and Comex gold,on U.S. exchanges will also be halted Monday.</p><p><blockquote>美国交易所的大多数商品期货交易，包括纽约商品交易所原油和纽约商品交易所黄金，也将于周一停止。</blockquote></p><p> Is there any significance to the holiday for average investors, besides the time off in the U.S. and the barbecues?</p><p><blockquote>除了在美国度假和烧烤之外，这个假期对普通投资者还有什么意义吗？</blockquote></p><p> Probably not.</p><p><blockquote>应该不会吧。</blockquote></p><p> But the May Memorial Day to September Labor Day period in recent years has proven a bullish stretch one for investors, according to Dow Jones Market Data. The Dow, for example, is up by about 2% over that period and averages a gain of 1.3%, producing a winning record 65% of the time. The Dow is currently enjoying a win streak, over the past six Memorial Day/Labor Day periods, representing the longest win streak since 1989. Last year, the markets gained nearly 15% over that time.</p><p><blockquote>但根据道琼斯市场数据，近年来，五月阵亡将士纪念日至九月劳动节期间对投资者来说是一段看涨的时期。例如，道琼斯指数在此期间上涨了约2%，平均涨幅为1.3%，65%的时间创造了获胜记录。在过去的六个阵亡将士纪念日/劳动节期间，道琼斯指数目前正在享受连胜，这是自1989年以来最长的连胜。去年，市场同期上涨了近15%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3f0f061a4ddd2ca31c53f8aa68e3cce\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> The S&amp;P 500 is on a similar win streak and is up nearly 8% so far this Memorial Day-Labor Day period. It has risen more than 70% over that period in past years and averages a 1.7% gain. The broad-market index rose 16% during that time in 2020.</p><p><blockquote>标普500也取得了类似的连胜，在阵亡将士纪念日至劳动节期间迄今为止已上涨近8%。过去几年同期上涨了70%以上，平均涨幅为1.7%。2020年期间，大盘指数上涨了16%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c780a46e32d055feb3e3f5e10fc987f\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> But if there is a bona fide trend in the Labor Day trading it may be this one that MarketWatch’s&nbsp;Steve Goldstein reports, quoting Raymond James strategist Tavis McCourt, who says that in the last two years, there was a big value and cyclical bias in stock markets after the holiday, and in 2018, markets basically collapsed after the summer drew to a close.</p><p><blockquote>但如果劳动节交易中存在真正的趋势，那么MarketWatch的Steve Goldstein援引Raymond James策略师Tavis McCourt的话说，在过去两年中，股市存在很大的价值和周期性偏差。节后股市，2018年，夏季接近尾声后市场基本崩溃。</blockquote></p><p> It is impossible to know if the stock market rally will peter out similarly this time around but there is a growing sense on Wall Street that valuations are too lofty and equity indexes are due for a pullback of at least 5% or better from current heights.</p><p><blockquote>不可能知道这一次股市涨势是否会以类似的方式逐渐消失，但华尔街越来越多的人认为估值过高，股指将从当前高度回调至少5%或更好。</blockquote></p><p> Markets will be back to business as usual on Tuesday and, of course, European bourses, including London’s FTSE 100&nbsp;index and the pan-European Stoxx Europe 600&nbsp;will be open on Monday, as well as Asian markets, the Nikkei 225,Hong Kong’s Hang Seng&nbsp;and the Shanghai Composite Index.</p><p><blockquote>市场将于周二恢复照常营业，当然，欧洲证券交易所，包括伦敦富时100指数和泛欧斯托克欧洲600指数，以及亚洲市场、日经225指数、香港恒生指数和上证综合指数。</blockquote></p><p></p>","source":"lsy1603348471595","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>Is the U.S. stock market open on Labor Day?<blockquote>劳动节美股开市吗？</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\">\nIs the U.S. stock market open on Labor Day?<blockquote>劳动节美股开市吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-09-06 07:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It is unofficially summer’s last hurrah for Wall Street investors.</p><p><blockquote>对于华尔街投资者来说，这是非正式的夏季最后一次欢呼。</blockquote></p><p> U.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has been a mostly spectacular run for the stock market. The rally came despite concerns about the spread of the delta variant of the coronavirus and unease about the timetable for an eventual rollback of easy-money policies implemented by the Federal Reserve at the onset of the pandemic last year.</p><p><blockquote>美国金融市场将于9月6日周一因劳动节休市，这标志着美国为期三天的周末，此前股市经历了一段非常壮观的走势。尽管人们担心冠状病毒德尔塔变异毒株的蔓延，并对美联储去年大流行开始时实施的宽松货币政策最终回滚的时间表感到不安，但股市还是出现了反弹。</blockquote></p><p> On Monday, U.S. stock exchanges, including the Intercontinental Exchange Inc.&nbsp;-owned New York Stock Exchange and Nasdaq Inc.,will be closed, so don’t look for any action in individual stocks or indexes including the Dow Jones Industrial Average,&nbsp;S&amp;P 500&nbsp;or Nasdaq Composite indexes.</p><p><blockquote>周一，包括洲际交易所旗下的纽约证券交易所和纳斯达克在内的美国证券交易所将休市，因此不要寻找道琼斯工业平均指数、标准普尔500指数或纳斯达克综合指数等个股或指数的任何走势。</blockquote></p><p> The S&amp;P 500 has already notched 54 record closing highs in 2021 and was looking for its 55th on Friday, while the Nasdaq Composite&nbsp;was on track to book its 35th&nbsp;all-time high of the year. The Dow stood less than a percentage point from its Aug. 16 record, mid-afternoon Friday.</p><p><blockquote>标普500在2021年已经创下了54个历史收盘新高，并有望在周五创下第55个历史新高，而纳斯达克综合指数有望创下今年第35个历史新高。周五下午，道琼斯指数较8月16日的纪录上涨了不到一个百分点。</blockquote></p><p> Sifma, the securities-industry trade group for fixed-income, also has recommended the bond market close on Labor Day, including trading in the 10-year Treasury note,which was&nbsp;yielding around 1.33%&nbsp;after the U.S. August jobs report came in weaker than expected.</p><p><blockquote>证券业固定收益贸易组织Sifma也建议债券市场在劳动节休市，包括10年期国债交易，在美国8月就业报告公布后，该国债收益率约为1.33%。低于预期。</blockquote></p><p> However, the&nbsp;Labor Department’s employment report,which showed that&nbsp;235,000 jobs were created in August, far below expectations for more than 700,000, failed to dull expectations among sovereign debt investors for a near-term announcement of tapering of the Fed’s $120 billion in monthly purchases in Treasurys and mortgage-backed securities.</p><p><blockquote>然而，美国劳工部的就业报告显示，8月份新增就业岗位23.5万个，远低于预期的70多万个，但这未能降低主权债务投资者对美联储近期宣布缩减每月1200亿美元美国国债和抵押贷款支持证券购买规模的预期。</blockquote></p><p> Trading in most commodity futures, including Nymex crude-oil&nbsp;and Comex gold,on U.S. exchanges will also be halted Monday.</p><p><blockquote>美国交易所的大多数商品期货交易，包括纽约商品交易所原油和纽约商品交易所黄金，也将于周一停止。</blockquote></p><p> Is there any significance to the holiday for average investors, besides the time off in the U.S. and the barbecues?</p><p><blockquote>除了在美国度假和烧烤之外，这个假期对普通投资者还有什么意义吗？</blockquote></p><p> Probably not.</p><p><blockquote>应该不会吧。</blockquote></p><p> But the May Memorial Day to September Labor Day period in recent years has proven a bullish stretch one for investors, according to Dow Jones Market Data. The Dow, for example, is up by about 2% over that period and averages a gain of 1.3%, producing a winning record 65% of the time. The Dow is currently enjoying a win streak, over the past six Memorial Day/Labor Day periods, representing the longest win streak since 1989. Last year, the markets gained nearly 15% over that time.</p><p><blockquote>但根据道琼斯市场数据，近年来，五月阵亡将士纪念日至九月劳动节期间对投资者来说是一段看涨的时期。例如，道琼斯指数在此期间上涨了约2%，平均涨幅为1.3%，65%的时间创造了获胜记录。在过去的六个阵亡将士纪念日/劳动节期间，道琼斯指数目前正在享受连胜，这是自1989年以来最长的连胜。去年，市场同期上涨了近15%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f3f0f061a4ddd2ca31c53f8aa68e3cce\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> The S&amp;P 500 is on a similar win streak and is up nearly 8% so far this Memorial Day-Labor Day period. It has risen more than 70% over that period in past years and averages a 1.7% gain. The broad-market index rose 16% during that time in 2020.</p><p><blockquote>标普500也取得了类似的连胜，在阵亡将士纪念日至劳动节期间迄今为止已上涨近8%。过去几年同期上涨了70%以上，平均涨幅为1.7%。2020年期间，大盘指数上涨了16%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c780a46e32d055feb3e3f5e10fc987f\" tg-width=\"699\" tg-height=\"564\" width=\"100%\" height=\"auto\"><span>DOW JONES MARKET DATA</span></p><p><blockquote><p class=\"t-img-caption\"><span>道琼斯市场数据</span></p></blockquote></p><p> But if there is a bona fide trend in the Labor Day trading it may be this one that MarketWatch’s&nbsp;Steve Goldstein reports, quoting Raymond James strategist Tavis McCourt, who says that in the last two years, there was a big value and cyclical bias in stock markets after the holiday, and in 2018, markets basically collapsed after the summer drew to a close.</p><p><blockquote>但如果劳动节交易中存在真正的趋势，那么MarketWatch的Steve Goldstein援引Raymond James策略师Tavis McCourt的话说，在过去两年中，股市存在很大的价值和周期性偏差。节后股市，2018年，夏季接近尾声后市场基本崩溃。</blockquote></p><p> It is impossible to know if the stock market rally will peter out similarly this time around but there is a growing sense on Wall Street that valuations are too lofty and equity indexes are due for a pullback of at least 5% or better from current heights.</p><p><blockquote>不可能知道这一次股市涨势是否会以类似的方式逐渐消失，但华尔街越来越多的人认为估值过高，股指将从当前高度回调至少5%或更好。</blockquote></p><p> Markets will be back to business as usual on Tuesday and, of course, European bourses, including London’s FTSE 100&nbsp;index and the pan-European Stoxx Europe 600&nbsp;will be open on Monday, as well as Asian markets, the Nikkei 225,Hong Kong’s Hang Seng&nbsp;and the Shanghai Composite Index.</p><p><blockquote>市场将于周二恢复照常营业，当然，欧洲证券交易所，包括伦敦富时100指数和泛欧斯托克欧洲600指数，以及亚洲市场、日经225指数、香港恒生指数和上证综合指数。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/is-the-u-s-stock-market-open-on-labor-day-11630697597?mod=home-page\">MarketWatch</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":{"ICE":"洲际交易所",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/is-the-u-s-stock-market-open-on-labor-day-11630697597?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126654067","content_text":"It is unofficially summer’s last hurrah for Wall Street investors.\nU.S. financial markets will be closed for Labor Day on Monday, Sept. 6, marking a three-day weekend in the U.S., following what has been a mostly spectacular run for the stock market. The rally came despite concerns about the spread of the delta variant of the coronavirus and unease about the timetable for an eventual rollback of easy-money policies implemented by the Federal Reserve at the onset of the pandemic last year.\nOn Monday, U.S. stock exchanges, including the Intercontinental Exchange Inc. -owned New York Stock Exchange and Nasdaq Inc.,will be closed, so don’t look for any action in individual stocks or indexes including the Dow Jones Industrial Average, S&P 500 or Nasdaq Composite indexes.\nThe S&P 500 has already notched 54 record closing highs in 2021 and was looking for its 55th on Friday, while the Nasdaq Composite was on track to book its 35th all-time high of the year. The Dow stood less than a percentage point from its Aug. 16 record, mid-afternoon Friday.\nSifma, the securities-industry trade group for fixed-income, also has recommended the bond market close on Labor Day, including trading in the 10-year Treasury note,which was yielding around 1.33% after the U.S. August jobs report came in weaker than expected.\nHowever, the Labor Department’s employment report,which showed that 235,000 jobs were created in August, far below expectations for more than 700,000, failed to dull expectations among sovereign debt investors for a near-term announcement of tapering of the Fed’s $120 billion in monthly purchases in Treasurys and mortgage-backed securities.\nTrading in most commodity futures, including Nymex crude-oil and Comex gold,on U.S. exchanges will also be halted Monday.\nIs there any significance to the holiday for average investors, besides the time off in the U.S. and the barbecues?\nProbably not.\nBut the May Memorial Day to September Labor Day period in recent years has proven a bullish stretch one for investors, according to Dow Jones Market Data. The Dow, for example, is up by about 2% over that period and averages a gain of 1.3%, producing a winning record 65% of the time. The Dow is currently enjoying a win streak, over the past six Memorial Day/Labor Day periods, representing the longest win streak since 1989. Last year, the markets gained nearly 15% over that time.\nDOW JONES MARKET DATA\nThe S&P 500 is on a similar win streak and is up nearly 8% so far this Memorial Day-Labor Day period. It has risen more than 70% over that period in past years and averages a 1.7% gain. The broad-market index rose 16% during that time in 2020.\nDOW JONES MARKET DATA\nBut if there is a bona fide trend in the Labor Day trading it may be this one that MarketWatch’s Steve Goldstein reports, quoting Raymond James strategist Tavis McCourt, who says that in the last two years, there was a big value and cyclical bias in stock markets after the holiday, and in 2018, markets basically collapsed after the summer drew to a close.\nIt is impossible to know if the stock market rally will peter out similarly this time around but there is a growing sense on Wall Street that valuations are too lofty and equity indexes are due for a pullback of at least 5% or better from current heights.\nMarkets will be back to business as usual on Tuesday and, of course, European bourses, including London’s FTSE 100 index and the pan-European Stoxx Europe 600 will be open on Monday, as well as Asian markets, the Nikkei 225,Hong Kong’s Hang Seng and the Shanghai Composite Index.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"ICE":0.9}},"isVote":1,"tweetType":1,"viewCount":344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":375610014,"gmtCreate":1619331274438,"gmtModify":1631883960575,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556756933727652","authorIdStr":"3556756933727652"},"themes":[],"htmlText":"Zoom and peloton good","listText":"Zoom and peloton good","text":"Zoom and peloton good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/375610014","repostId":"2129804364","repostType":4,"isVote":1,"tweetType":1,"viewCount":791,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":821715768,"gmtCreate":1633789525478,"gmtModify":1633789526161,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556756933727652","authorIdStr":"3556756933727652"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/821715768","repostId":"2174920514","repostType":4,"isVote":1,"tweetType":1,"viewCount":1371,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":137903712,"gmtCreate":1622277525136,"gmtModify":1634102550595,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556756933727652","authorIdStr":"3556756933727652"},"themes":[],"htmlText":"Oh no&nbsp;","listText":"Oh no&nbsp;","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/137903712","repostId":"1188611521","repostType":4,"isVote":1,"tweetType":1,"viewCount":364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102694248,"gmtCreate":1620203361584,"gmtModify":1634207011904,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556756933727652","authorIdStr":"3556756933727652"},"themes":[],"htmlText":"No","listText":"No","text":"No","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/102694248","repostId":"1115203133","repostType":4,"repost":{"id":"1115203133","kind":"news","pubTimestamp":1620178775,"share":"https://www.laohu8.com/m/news/1115203133?lang=zh_CN&edition=full","pubTime":"2021-05-05 09:39","market":"us","language":"en","title":"Why is dogecoin’s price spiking? The crypto has surged 11,000% in 2021<blockquote>狗狗币价格为何飙升？2021年加密货币飙升11,000%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1115203133","media":"Market Wacth","summary":"Every dog has its day…but a whole year?Indeed, dogecoin, the meme cryptocurrency linked to an image ","content":"<p>Every dog has its day…but a whole year?</p><p><blockquote>每只狗都有它的一天…但是一整年呢？</blockquote></p><p>Indeed, dogecoin, the meme cryptocurrency linked to an image of a Shiba Inu dog, has been enjoying one of the best years for cryptocurrency in recent memory, boasting year-to-date gains of more than 11,000% and putting it in the top 10 of the most highly valued digital assets this year.</p><p><blockquote>事实上，狗狗币（与柴犬图像相关的模因加密货币）一直是近年来加密货币最好的一年，今年迄今的涨幅超过11,000%，并跻身前10名今年最有价值的数字资产。</blockquote></p><p>At last check, dogecoinDOGEUSD,+8.26%was changing hands at 54 cents, up more than 23% in the past 24 hours and up around 11,210% so far in 2021, according to CoinDesk.</p><p><blockquote>根据CoinDesk的数据，根据上次检查，dogecoinDOGEUSD,+8.26%的易手价格为54美分，过去24小时内上涨了23%以上，2021年迄今为止上涨了约11,210%。</blockquote></p><p>That parabolic rise is drawing both applause and apprehension as its supporters aim to drive the parody coin to a value near $1, with critics warning that the asset bears all the hallmarks of an asset bubble that is bound to pop and leave carnage in its wake.</p><p><blockquote>这种抛物线式上涨既引起了掌声，也引起了担忧，因为其支持者的目标是将这枚模仿硬币的价值推至接近1美元，批评者警告说，该资产具有资产泡沫的所有特征，资产泡沫必然会破裂并留下大屠杀。</blockquote></p><p>Only, don’t tell that to those cheerleading the crypto, or risk being met with this common refrain: “enjoy being poor.”<img src=\"https://static.tigerbbs.com/7c7201d3eb982c0d5d636bf8ff4a1ca7\" tg-width=\"505\" tg-height=\"367\" referrerpolicy=\"no-referrer\">So why is dogecoin, pronounced “dōj-coin,”&nbsp;on such a monumental tear that has outstripped crypto considered more serious representatives of the age of digital assets and blockchain? Here are a few reasons:</p><p><blockquote>只是，不要告诉那些为加密货币欢呼的人，否则就有可能遇到这种常见的重复：“享受贫穷。”那么，为什么狗狗币（发音为“dōj-coin”）会遭受如此巨大的损失，以至于超过了被认为是数字资产和区块链时代更严肃代表的加密货币？以下是一些原因：</blockquote></p><p>Its biggest booster set to guest host ‘SNL’</p><p><blockquote>其最大的助推器将是客座主持人“SNL”</blockquote></p><p>Elon Musk, CEO of Tesla Inc. and SpaceX, will host “Saturday Night Live” this weekend, which has already drawn&nbsp;cheers and jeers&nbsp;for the technologist. He has become one of the most prominent and vocal champions of dogecoin this year and some speculate that he could do something to promote doge.</p><p><blockquote>特斯拉公司和SpaceX的首席执行官Elon Musk将于本周末主持“周六夜现场”，这已经为这位技术专家赢得了欢呼和嘲笑。他已经成为今年dogecoin最著名和最直言不讳的拥护者之一，一些人猜测他可以做些什么来推广doge。</blockquote></p><p>Musk did refer to himself as the “dogefather” in one recent tweet ahead of his “Saturday Night Live” gig.</p><p><blockquote>马斯克在《周六夜现场》演出前的一条推文中确实称自己为“狗爸爸”。</blockquote></p><p><img src=\"https://static.tigerbbs.com/54a1a1602240507ad985c5efcb2571f5\" tg-width=\"501\" tg-height=\"177\" referrerpolicy=\"no-referrer\">Brokerages trade dogecoin</p><p><blockquote>券商交易狗狗币</blockquote></p><p>A number of new venues have announced that they will trade dogecoin on their exchanges in recent days and weeks.</p><p><blockquote>一些新的场所已经宣布，他们将在最近几天和几周内在他们的交易所交易狗狗币。</blockquote></p><p>Crypto exchange Geminion Tuesdayannounced trading and custody support for the coin. Trading platform&nbsp;eToro also made dogecoin&nbsp;available for trading on its platform.Webullallowed its users to purchase dogecoin back on April 20.</p><p><blockquote>加密货币交易所Geminion周二宣布支持该硬币的交易和托管。交易平台eToro也在其平台上提供狗狗币交易。Webull于4月20日允许其用户重新购买狗狗币。</blockquote></p><p>FOMO</p><p><blockquote>FOMO</blockquote></p><p>Fear of missing out also is said to be behind the surge. Some crypto participants speculate that the rise in dogecoin is being supported by retail traders who see the parody coin as more accessible investment (or trade) than, say, bitcoinBTCUSD,-0.16%,which was changing hands at $54,000, at last check on CoinDesk.</p><p><blockquote>据说，对错过的恐惧也是激增的原因。一些加密货币参与者推测，狗狗币的上涨得到了散户交易者的支持，他们认为这种模仿币比比特币BTCUSD(-0.16%)更容易获得投资（或交易），比特币BTCUSD(-0.16%)在CoinDesk上最后一次检查时易手价格为54,000美元。</blockquote></p><p>“Dogecoin&nbsp;is surging because many cryptocurrency traders do not want to miss out on any buzz that stems from Elon Musk’s hosting of ‘Saturday Night Live,’” wrote Edward Moya, senior market analyst at Oanda, in a daily note.</p><p><blockquote>Oanda高级市场分析师爱德华·莫亚(Edward Moya)在每日报告中写道：“狗狗币正在飙升，因为许多加密货币交易者不想错过埃隆·马斯克(Elon Musk)主持《周六夜现场》(Saturday Night Live)引发的任何轰动。”</blockquote></p><p>Gains in traditional assets also might seem more pedestrian. By comparison, gold futuresGC00,0.17%are down 6% so far this year, the Dow Jones Industrial AverageDJIA,+0.06%and the S&amp;P 500 indexSPX,-0.67%are up by at least 10% in 2021, while the Nasdaq Composite IndexCOMP,-1.88%has gained over 5%.</p><p><blockquote>传统资产的收益也可能看起来更加平淡无奇。相比之下，黄金期货GC00, 0.17%今年迄今已下跌6%，道琼斯工业平均指数DJIA,+0.06%和标普500指数SPX,-0.67%在2021年至少上涨10%，而纳斯达克综合指数COMP,-1.88%涨幅超过5%。</blockquote></p><p>Accessibility</p><p><blockquote>可访问性</blockquote></p><p>Konstantin Boyko-Romanovsky, CEO of&nbsp;Allnodes, via an emailed message, said he viewed support from Musk and fellow billionaire Mark Cuban as central to the bull thesis for dogecoin, but also said that some may perceive the crypto as more accessible compared against bitcoin, which hit a recent peak above $60,000 before cooling.</p><p><blockquote>Allnodes首席执行官康斯坦丁·博伊科-罗曼诺夫斯基(Konstantin Boyko-Romanovsky)通过电子邮件表示，他认为马斯克和亿万富翁马克·库班(Mark Cuban)的支持是狗狗币牛市论点的核心，但也表示，有些人可能认为与比特币相比，这种加密货币更容易使用，最近在冷却之前触及60,000美元以上的峰值。</blockquote></p><p>“It appeals more to the general public because it costs so little. $60,000 for a single bitcoin may be intimidating to some. In a way, doge then is more like a USD but in a digital form,” he wrote.</p><p><blockquote>“它对公众更有吸引力，因为它的成本很低。一张比特币6万美元可能会让一些人感到害怕。在某种程度上，doge更像是一种美元，但以数字形式，”他写道。</blockquote></p><p>Bubbles &amp; manias</p><p><blockquote>泡沫与狂热</blockquote></p><p>Moya wrote that the dogecoin bubble should have “popped by now, but institutional interest is trying to take advantage of this momentum and that could support another push higher.”</p><p><blockquote>莫亚写道，狗狗币泡沫“现在应该已经破裂，但机构兴趣正试图利用这一势头，这可能会支持进一步推高。”</blockquote></p><p>Many skeptics warn that dogecoin could leave a lot of newbie investors hemorrhaging losses if they wade into the asset imprudently.</p><p><blockquote>许多怀疑论者警告说，如果狗狗币不谨慎地涉足该资产，可能会给许多新手投资者带来巨大损失。</blockquote></p><p></p>","source":"lsy1604288433698","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>Why is dogecoin’s price spiking? The crypto has surged 11,000% in 2021<blockquote>狗狗币价格为何飙升？2021年加密货币飙升11,000%</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\">\nWhy is dogecoin’s price spiking? The crypto has surged 11,000% in 2021<blockquote>狗狗币价格为何飙升？2021年加密货币飙升11,000%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Market Wacth</strong><span class=\"h-time small\">2021-05-05 09:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Every dog has its day…but a whole year?</p><p><blockquote>每只狗都有它的一天…但是一整年呢？</blockquote></p><p>Indeed, dogecoin, the meme cryptocurrency linked to an image of a Shiba Inu dog, has been enjoying one of the best years for cryptocurrency in recent memory, boasting year-to-date gains of more than 11,000% and putting it in the top 10 of the most highly valued digital assets this year.</p><p><blockquote>事实上，狗狗币（与柴犬图像相关的模因加密货币）一直是近年来加密货币最好的一年，今年迄今的涨幅超过11,000%，并跻身前10名今年最有价值的数字资产。</blockquote></p><p>At last check, dogecoinDOGEUSD,+8.26%was changing hands at 54 cents, up more than 23% in the past 24 hours and up around 11,210% so far in 2021, according to CoinDesk.</p><p><blockquote>根据CoinDesk的数据，根据上次检查，dogecoinDOGEUSD,+8.26%的易手价格为54美分，过去24小时内上涨了23%以上，2021年迄今为止上涨了约11,210%。</blockquote></p><p>That parabolic rise is drawing both applause and apprehension as its supporters aim to drive the parody coin to a value near $1, with critics warning that the asset bears all the hallmarks of an asset bubble that is bound to pop and leave carnage in its wake.</p><p><blockquote>这种抛物线式上涨既引起了掌声，也引起了担忧，因为其支持者的目标是将这枚模仿硬币的价值推至接近1美元，批评者警告说，该资产具有资产泡沫的所有特征，资产泡沫必然会破裂并留下大屠杀。</blockquote></p><p>Only, don’t tell that to those cheerleading the crypto, or risk being met with this common refrain: “enjoy being poor.”<img src=\"https://static.tigerbbs.com/7c7201d3eb982c0d5d636bf8ff4a1ca7\" tg-width=\"505\" tg-height=\"367\" referrerpolicy=\"no-referrer\">So why is dogecoin, pronounced “dōj-coin,”&nbsp;on such a monumental tear that has outstripped crypto considered more serious representatives of the age of digital assets and blockchain? Here are a few reasons:</p><p><blockquote>只是，不要告诉那些为加密货币欢呼的人，否则就有可能遇到这种常见的重复：“享受贫穷。”那么，为什么狗狗币（发音为“dōj-coin”）会遭受如此巨大的损失，以至于超过了被认为是数字资产和区块链时代更严肃代表的加密货币？以下是一些原因：</blockquote></p><p>Its biggest booster set to guest host ‘SNL’</p><p><blockquote>其最大的助推器将是客座主持人“SNL”</blockquote></p><p>Elon Musk, CEO of Tesla Inc. and SpaceX, will host “Saturday Night Live” this weekend, which has already drawn&nbsp;cheers and jeers&nbsp;for the technologist. He has become one of the most prominent and vocal champions of dogecoin this year and some speculate that he could do something to promote doge.</p><p><blockquote>特斯拉公司和SpaceX的首席执行官Elon Musk将于本周末主持“周六夜现场”，这已经为这位技术专家赢得了欢呼和嘲笑。他已经成为今年dogecoin最著名和最直言不讳的拥护者之一，一些人猜测他可以做些什么来推广doge。</blockquote></p><p>Musk did refer to himself as the “dogefather” in one recent tweet ahead of his “Saturday Night Live” gig.</p><p><blockquote>马斯克在《周六夜现场》演出前的一条推文中确实称自己为“狗爸爸”。</blockquote></p><p><img src=\"https://static.tigerbbs.com/54a1a1602240507ad985c5efcb2571f5\" tg-width=\"501\" tg-height=\"177\" referrerpolicy=\"no-referrer\">Brokerages trade dogecoin</p><p><blockquote>券商交易狗狗币</blockquote></p><p>A number of new venues have announced that they will trade dogecoin on their exchanges in recent days and weeks.</p><p><blockquote>一些新的场所已经宣布，他们将在最近几天和几周内在他们的交易所交易狗狗币。</blockquote></p><p>Crypto exchange Geminion Tuesdayannounced trading and custody support for the coin. Trading platform&nbsp;eToro also made dogecoin&nbsp;available for trading on its platform.Webullallowed its users to purchase dogecoin back on April 20.</p><p><blockquote>加密货币交易所Geminion周二宣布支持该硬币的交易和托管。交易平台eToro也在其平台上提供狗狗币交易。Webull于4月20日允许其用户重新购买狗狗币。</blockquote></p><p>FOMO</p><p><blockquote>FOMO</blockquote></p><p>Fear of missing out also is said to be behind the surge. Some crypto participants speculate that the rise in dogecoin is being supported by retail traders who see the parody coin as more accessible investment (or trade) than, say, bitcoinBTCUSD,-0.16%,which was changing hands at $54,000, at last check on CoinDesk.</p><p><blockquote>据说，对错过的恐惧也是激增的原因。一些加密货币参与者推测，狗狗币的上涨得到了散户交易者的支持，他们认为这种模仿币比比特币BTCUSD(-0.16%)更容易获得投资（或交易），比特币BTCUSD(-0.16%)在CoinDesk上最后一次检查时易手价格为54,000美元。</blockquote></p><p>“Dogecoin&nbsp;is surging because many cryptocurrency traders do not want to miss out on any buzz that stems from Elon Musk’s hosting of ‘Saturday Night Live,’” wrote Edward Moya, senior market analyst at Oanda, in a daily note.</p><p><blockquote>Oanda高级市场分析师爱德华·莫亚(Edward Moya)在每日报告中写道：“狗狗币正在飙升，因为许多加密货币交易者不想错过埃隆·马斯克(Elon Musk)主持《周六夜现场》(Saturday Night Live)引发的任何轰动。”</blockquote></p><p>Gains in traditional assets also might seem more pedestrian. By comparison, gold futuresGC00,0.17%are down 6% so far this year, the Dow Jones Industrial AverageDJIA,+0.06%and the S&amp;P 500 indexSPX,-0.67%are up by at least 10% in 2021, while the Nasdaq Composite IndexCOMP,-1.88%has gained over 5%.</p><p><blockquote>传统资产的收益也可能看起来更加平淡无奇。相比之下，黄金期货GC00, 0.17%今年迄今已下跌6%，道琼斯工业平均指数DJIA,+0.06%和标普500指数SPX,-0.67%在2021年至少上涨10%，而纳斯达克综合指数COMP,-1.88%涨幅超过5%。</blockquote></p><p>Accessibility</p><p><blockquote>可访问性</blockquote></p><p>Konstantin Boyko-Romanovsky, CEO of&nbsp;Allnodes, via an emailed message, said he viewed support from Musk and fellow billionaire Mark Cuban as central to the bull thesis for dogecoin, but also said that some may perceive the crypto as more accessible compared against bitcoin, which hit a recent peak above $60,000 before cooling.</p><p><blockquote>Allnodes首席执行官康斯坦丁·博伊科-罗曼诺夫斯基(Konstantin Boyko-Romanovsky)通过电子邮件表示，他认为马斯克和亿万富翁马克·库班(Mark Cuban)的支持是狗狗币牛市论点的核心，但也表示，有些人可能认为与比特币相比，这种加密货币更容易使用，最近在冷却之前触及60,000美元以上的峰值。</blockquote></p><p>“It appeals more to the general public because it costs so little. $60,000 for a single bitcoin may be intimidating to some. In a way, doge then is more like a USD but in a digital form,” he wrote.</p><p><blockquote>“它对公众更有吸引力，因为它的成本很低。一张比特币6万美元可能会让一些人感到害怕。在某种程度上，doge更像是一种美元，但以数字形式，”他写道。</blockquote></p><p>Bubbles &amp; manias</p><p><blockquote>泡沫与狂热</blockquote></p><p>Moya wrote that the dogecoin bubble should have “popped by now, but institutional interest is trying to take advantage of this momentum and that could support another push higher.”</p><p><blockquote>莫亚写道，狗狗币泡沫“现在应该已经破裂，但机构兴趣正试图利用这一势头，这可能会支持进一步推高。”</blockquote></p><p>Many skeptics warn that dogecoin could leave a lot of newbie investors hemorrhaging losses if they wade into the asset imprudently.</p><p><blockquote>许多怀疑论者警告说，如果狗狗币不谨慎地涉足该资产，可能会给许多新手投资者带来巨大损失。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/why-is-dogecoins-price-spiking-the-crypto-has-surged-11-000-in-2021-11620151738?mod=home-page\">Market Wacth</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":{},"source_url":"https://www.marketwatch.com/story/why-is-dogecoins-price-spiking-the-crypto-has-surged-11-000-in-2021-11620151738?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115203133","content_text":"Every dog has its day…but a whole year?Indeed, dogecoin, the meme cryptocurrency linked to an image of a Shiba Inu dog, has been enjoying one of the best years for cryptocurrency in recent memory, boasting year-to-date gains of more than 11,000% and putting it in the top 10 of the most highly valued digital assets this year.At last check, dogecoinDOGEUSD,+8.26%was changing hands at 54 cents, up more than 23% in the past 24 hours and up around 11,210% so far in 2021, according to CoinDesk.That parabolic rise is drawing both applause and apprehension as its supporters aim to drive the parody coin to a value near $1, with critics warning that the asset bears all the hallmarks of an asset bubble that is bound to pop and leave carnage in its wake.Only, don’t tell that to those cheerleading the crypto, or risk being met with this common refrain: “enjoy being poor.”So why is dogecoin, pronounced “dōj-coin,” on such a monumental tear that has outstripped crypto considered more serious representatives of the age of digital assets and blockchain? Here are a few reasons:Its biggest booster set to guest host ‘SNL’Elon Musk, CEO of Tesla Inc. and SpaceX, will host “Saturday Night Live” this weekend, which has already drawn cheers and jeers for the technologist. He has become one of the most prominent and vocal champions of dogecoin this year and some speculate that he could do something to promote doge.Musk did refer to himself as the “dogefather” in one recent tweet ahead of his “Saturday Night Live” gig.Brokerages trade dogecoinA number of new venues have announced that they will trade dogecoin on their exchanges in recent days and weeks.Crypto exchange Geminion Tuesdayannounced trading and custody support for the coin. Trading platform eToro also made dogecoin available for trading on its platform.Webullallowed its users to purchase dogecoin back on April 20.FOMOFear of missing out also is said to be behind the surge. Some crypto participants speculate that the rise in dogecoin is being supported by retail traders who see the parody coin as more accessible investment (or trade) than, say, bitcoinBTCUSD,-0.16%,which was changing hands at $54,000, at last check on CoinDesk.“Dogecoin is surging because many cryptocurrency traders do not want to miss out on any buzz that stems from Elon Musk’s hosting of ‘Saturday Night Live,’” wrote Edward Moya, senior market analyst at Oanda, in a daily note.Gains in traditional assets also might seem more pedestrian. By comparison, gold futuresGC00,0.17%are down 6% so far this year, the Dow Jones Industrial AverageDJIA,+0.06%and the S&P 500 indexSPX,-0.67%are up by at least 10% in 2021, while the Nasdaq Composite IndexCOMP,-1.88%has gained over 5%.AccessibilityKonstantin Boyko-Romanovsky, CEO of Allnodes, via an emailed message, said he viewed support from Musk and fellow billionaire Mark Cuban as central to the bull thesis for dogecoin, but also said that some may perceive the crypto as more accessible compared against bitcoin, which hit a recent peak above $60,000 before cooling.“It appeals more to the general public because it costs so little. $60,000 for a single bitcoin may be intimidating to some. In a way, doge then is more like a USD but in a digital form,” he wrote.Bubbles & maniasMoya wrote that the dogecoin bubble should have “popped by now, but institutional interest is trying to take advantage of this momentum and that could support another push higher.”Many skeptics warn that dogecoin could leave a lot of newbie investors hemorrhaging losses if they wade into the asset imprudently.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351952525,"gmtCreate":1616556643567,"gmtModify":1634525214755,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556756933727652","authorIdStr":"3556756933727652"},"themes":[],"htmlText":"Pls like &amp; comment","listText":"Pls like &amp; comment","text":"Pls like & comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/351952525","repostId":"1197383595","repostType":4,"isVote":1,"tweetType":1,"viewCount":319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379386541,"gmtCreate":1618675248183,"gmtModify":1634291452554,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556756933727652","authorIdStr":"3556756933727652"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/379386541","repostId":"1175692875","repostType":4,"repost":{"id":"1175692875","kind":"news","pubTimestamp":1618582708,"share":"https://www.laohu8.com/m/news/1175692875?lang=zh_CN&edition=full","pubTime":"2021-04-16 22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440亿美元期权今天到期：以下是将发生的变化</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175692875","media":"zerohedge","summary":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire","content":"<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><blockquote>虽然这不是四（甚至三）巫术日，但今天的大量每周期权将到期，其中可能一文不值，其他期权将为基础价格提供支持“引脚”。这就是为什么，尽管我们正在享受一个美丽的春季周，高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4月份每日期权交易量增长了70%，高于3月30日年初至今24亿美元的低点。</blockquote></p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p><blockquote><b>总体而言，单个股票中有5440亿美元的期权将于今天到期，其中包括3050亿美元的评级。</b>因此，今天的到期对于平值（ATM）期权持有大量未平仓合约的股票可能很重要，因为做市商对其异常大的期权投资组合进行delta对冲将会很活跃。这种流动可能会抑制某些股票的波动，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p><blockquote>正如高盛的维沙尔·维韦克（Vishal Vivek）所写，在重大到期时，期权交易者会跟踪以下情况：<b>大量未平仓合约即将到期。</b>在平价执行（执行价格等于或非常接近当前股价）中存在大量到期未平仓合约的情况下，delta对冲活动可能会影响标的股票当天的交易。如果做市商或其他对其头寸进行delta对冲的期权交易者是净多头ATM期权，则与到期相关的流量可能会产生抑制股价走势的效果，导致股价以大量未平仓合约在行权附近结算。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大型投资者来说是理想的情况。或者，如果delta对冲者是ATM期权的净空头（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p><blockquote>这意味着与到期相关的交易可能会导致具有大量ATM未平仓合约的股票的交易活动大幅回升。</blockquote></p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><blockquote>因此，为了帮助寻求日内交易机会的交易者，这里有一个表格，列出了今天到期的ATM未平仓合约较大的可能焦点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约占股票交易量的很大一部分，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p><blockquote>最后，值得一提的是，今天早上我们在SpotGamma的朋友写道，这是一个相当奇怪的运营支出周期，“持续的几乎机械的出价推动市场走高。我们以前从未见过看涨期权墙“突破”过很多次，但我们在之前的笔记中提到过其他异常现象，例如净看跌期权销售。我们对此有一些理论，我们将在一篇更长的文章中发布。”</blockquote></p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><blockquote>根据SG的说法，由于隐含波动率现在已经压缩（即VIX处于新低），现在“长期”波动的潜力更大。回想一下最近市场的任何剧烈下跌都是如何被如此迅速地买入的（见下图）。<b>这些大幅走低与创纪录的VIX飙升同时发生，但随着VIX（即隐含波动率）的逆转，反射性的snap回调将带来同等力度的市场复苏。</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><p><blockquote>SpotGamma的另一个奇怪观察：</blockquote></p><p>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p><p><blockquote>当隐含波动率非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或抓住支撑位，隐含波动率就会迅速反转走低。<b>我们经常想到这样一个类比，如果鲨鱼停止游泳，它就会下沉（部分正确！）.如果市场停止下跌，那么隐含波动率就会下降。</b>正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购空头对冲，从而推动反弹。SG的结论是：目前较低的隐含波动率水平给了市场更多的下行火力。从较低的隐含波动率开始会“减缓”反应性的“snap回”购买机制。此外，当IV较低时，伽马较高，因此伽马翻转可能有更多的果汁。</blockquote></p><p></p>","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>$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440亿美元期权今天到期：以下是将发生的变化</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\">\n$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440亿美元期权今天到期：以下是将发生的变化</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-04-16 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><blockquote>虽然这不是四（甚至三）巫术日，但今天的大量每周期权将到期，其中可能一文不值，其他期权将为基础价格提供支持“引脚”。这就是为什么，尽管我们正在享受一个美丽的春季周，高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4月份每日期权交易量增长了70%，高于3月30日年初至今24亿美元的低点。</blockquote></p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p><blockquote><b>总体而言，单个股票中有5440亿美元的期权将于今天到期，其中包括3050亿美元的评级。</b>因此，今天的到期对于平值（ATM）期权持有大量未平仓合约的股票可能很重要，因为做市商对其异常大的期权投资组合进行delta对冲将会很活跃。这种流动可能会抑制某些股票的波动，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p><blockquote>正如高盛的维沙尔·维韦克（Vishal Vivek）所写，在重大到期时，期权交易者会跟踪以下情况：<b>大量未平仓合约即将到期。</b>在平价执行（执行价格等于或非常接近当前股价）中存在大量到期未平仓合约的情况下，delta对冲活动可能会影响标的股票当天的交易。如果做市商或其他对其头寸进行delta对冲的期权交易者是净多头ATM期权，则与到期相关的流量可能会产生抑制股价走势的效果，导致股价以大量未平仓合约在行权附近结算。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大型投资者来说是理想的情况。或者，如果delta对冲者是ATM期权的净空头（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p><blockquote>这意味着与到期相关的交易可能会导致具有大量ATM未平仓合约的股票的交易活动大幅回升。</blockquote></p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><blockquote>因此，为了帮助寻求日内交易机会的交易者，这里有一个表格，列出了今天到期的ATM未平仓合约较大的可能焦点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约占股票交易量的很大一部分，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p><blockquote>最后，值得一提的是，今天早上我们在SpotGamma的朋友写道，这是一个相当奇怪的运营支出周期，“持续的几乎机械的出价推动市场走高。我们以前从未见过看涨期权墙“突破”过很多次，但我们在之前的笔记中提到过其他异常现象，例如净看跌期权销售。我们对此有一些理论，我们将在一篇更长的文章中发布。”</blockquote></p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><blockquote>根据SG的说法，由于隐含波动率现在已经压缩（即VIX处于新低），现在“长期”波动的潜力更大。回想一下最近市场的任何剧烈下跌都是如何被如此迅速地买入的（见下图）。<b>这些大幅走低与创纪录的VIX飙升同时发生，但随着VIX（即隐含波动率）的逆转，反射性的snap回调将带来同等力度的市场复苏。</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><p><blockquote>SpotGamma的另一个奇怪观察：</blockquote></p><p>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p><p><blockquote>当隐含波动率非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或抓住支撑位，隐含波动率就会迅速反转走低。<b>我们经常想到这样一个类比，如果鲨鱼停止游泳，它就会下沉（部分正确！）.如果市场停止下跌，那么隐含波动率就会下降。</b>正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购空头对冲，从而推动反弹。SG的结论是：目前较低的隐含波动率水平给了市场更多的下行火力。从较低的隐含波动率开始会“减缓”反应性的“snap回”购买机制。此外，当IV较低时，伽马较高，因此伽马翻转可能有更多的果汁。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">zerohedge</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":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175692875","content_text":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.How to trade this?As Goldman's Vishal Vivek writes, at major expirations, options traders track situations wherea large amount of open interest is set to expire.In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX  (i.e. implied volatility) reversed.And one other curious observation from SpotGamma:When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.  Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.  Additionally, gamma is higher when IV is lower so gamma flips may have more juice.","news_type":1,"symbols_score_info":{".SPX":0.9,"SPY":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":571,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354669513,"gmtCreate":1617167385032,"gmtModify":1634522291697,"author":{"id":"3556756933727652","authorId":"3556756933727652","name":"458b6d98","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3556756933727652","authorIdStr":"3556756933727652"},"themes":[],"htmlText":"Help like and comment?&nbsp;","listText":"Help like and comment?&nbsp;","text":"Help like and comment?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/354669513","repostId":"2123244659","repostType":4,"isVote":1,"tweetType":1,"viewCount":445,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}