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2021-11-29

$Cyren Ltd(CYRN)$Buy last chance!!

2021-11-26

$Cyren Ltd(CYRN)$Buy buy buy! So cheap

2021-11-24

$Cyren Ltd(CYRN)$Wah!!!!! Buy buy buy

2021-11-22

$Cyren Ltd(CYRN)$Buy buy buy! Cheap

2021-11-11

$Cyren Ltd(CYRN)$Sell sell sell!!!!

2021-11-03

$INTERNATIONAL CEMENT GROUPLTD.(KUO.SI)$Looks like it gonna tank? No?

2021-11-01

$INTERNATIONAL CEMENT GROUPLTD.(KUO.SI)$Have a strong feeling that something is brewing. Shall wait for the news on complete acquisition.

2021-11-01

$Tiger Brokers(TIGR)$Likely dead cat bounce?

2021-10-30

$Tiger Brokers(TIGR)$$6 last call???

2021-10-29

$Tiger Brokers(TIGR)$Big candle forming!!!!

2021-10-29

$Tiger Brokers(TIGR)$Target grab at 5.70

2021-10-29

$Tiger Brokers(TIGR)$Short short!?!?

2021-10-29

$Cyren Ltd(CYRN)$Time to sell? :(

2021-03-20

Like and share like and share

Fed Disappoints Market, Lets SLR Relief Expire: What Happens Next<blockquote>美联储令市场失望，让SLR救助到期：接下来会发生什么</blockquote>

2021-03-19

Yoyoyo reply like

抱歉，原内容已删除

2021-03-18

Reply n like!

Why Wait for a Crash to Buy? These 3 Top Stocks Are Already Down More Than 40%<blockquote>为什么要等到崩盘才买入？这3只顶级股票已下跌超过40%</blockquote>

2021-03-13

Like& share & comment pls

抱歉，原内容已删除

2021-03-13

Omg

抱歉，原内容已删除

2021-03-10

Hahaha

抱歉，原内容已删除

2021-03-07

Omg!!! Help me like and comment

Is The Nio Sell-Off Overdone?<blockquote>蔚来抛售是否过度？</blockquote>

去老虎APP查看更多动态

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Shall wait for the news on complete acquisition.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/843097632","isVote":1,"tweetType":1,"viewCount":1660,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":843094377,"gmtCreate":1635781031791,"gmtModify":1635781031881,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Likely dead cat bounce?&nbsp;","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Likely dead cat bounce?&nbsp;","text":"$Tiger Brokers(TIGR)$Likely dead cat bounce?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/843094377","isVote":1,"tweetType":1,"viewCount":2712,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":857656110,"gmtCreate":1635523310459,"gmtModify":1635523310584,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>$6 last call???","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>$6 last call???","text":"$Tiger Brokers(TIGR)$$6 last 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short!?!?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/857807497","isVote":1,"tweetType":1,"viewCount":337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":857804315,"gmtCreate":1635516343156,"gmtModify":1635516344562,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CYRN\">$Cyren Ltd(CYRN)$</a>Time to sell? :(","listText":"<a href=\"https://laohu8.com/S/CYRN\">$Cyren Ltd(CYRN)$</a>Time to sell? :(","text":"$Cyren Ltd(CYRN)$Time to sell? :(","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/857804315","isVote":1,"tweetType":1,"viewCount":825,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":350676577,"gmtCreate":1616206350699,"gmtModify":1634526738548,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Like and share like and share","listText":"Like and share like and share","text":"Like and share like and share","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/350676577","repostId":"1199154789","repostType":4,"repost":{"id":"1199154789","kind":"news","pubTimestamp":1616164372,"share":"https://www.laohu8.com/m/news/1199154789?lang=zh_CN&edition=full","pubTime":"2021-03-19 22:32","market":"us","language":"en","title":"Fed Disappoints Market, Lets SLR Relief Expire: What Happens Next<blockquote>美联储令市场失望，让SLR救助到期：接下来会发生什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199154789","media":"zerohedge","summary":"As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio  exemption expire as scheduled on March 31, the one year anniversary of the rule change.The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on ","content":"<p>As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio (SLR) exemption expire as scheduled on March 31, the one year anniversary of the rule change.</p><p><blockquote>正如本文所暗示和深入讨论的那样，在伊丽莎白·沃伦(Elizabeth Warren)和谢罗德·布朗(Sherrod Brown)等进步民主党人的政治压力下，美联储决定让临时补充杠杆率(SLR)豁免如期于3月31日（规则变更一周年）到期。</blockquote></p><p>The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on March 31, 2021.The temporary change was made to provide flexibility for depository institutions to provide credit to households and businesses in light of the COVID-19 event.<img src=\"https://static.tigerbbs.com/b822960da59d651f093b5113cd0c3fd0\" tg-width=\"500\" tg-height=\"319\" referrerpolicy=\"no-referrer\">This outcome is theone (again) correctly predictedby former NY Fed guru Zoltan Pozsar who following the FOMC said that \"the fact that the Fed made this adjustment practically preemptively – the o/n RRP facility is not being used at the moment, so there are no capacity constraints yet, while repo and bill yields aren’t trading negative yet –<b>suggests that the Fed is “foaming the runway” for the end of SLR exemption</b>.\"</p><p><blockquote>联邦银行监管机构今天宣布，2020年5月15日发布的存款机构补充杠杆率（SLR）的临时变更将于2021年3月31日如期到期。鉴于新冠肺炎事件，这一临时变化是为了为存款机构向家庭和企业提供信贷提供灵活性。这一结果是前纽约联储大师Zoltan Pozsar（再次）正确预测的结果，他跟随FOMC表示，“事实上，美联储实际上是先发制人地做出了这一调整——目前没有使用o/n RRP工具，因此没有能力限制，而回购和票据收益率尚未为负——<b>暗示美联储正在为SLR豁免的结束“铺路”</b>.\"</blockquote></p><p>Knowing well this would be a very hot button issue for the market, the Fed published thefollowing statementto ease trader nerves, noting that while the SLR special treatment will expire on March 31, the Fed is \"inviting public comment on several potential SLR modifications\" and furthermore, \"<b>Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability</b>\" - in short, if yields spike, the Fed will re-introduce the SLR without delay:</p><p><blockquote>美联储深知这将是市场的一个非常热门的问题，因此发表了以下声明以缓解交易员的紧张情绪，并指出，虽然SLR特殊待遇将于3月31日到期，但美联储正在“邀请公众就几项潜在的SLR修改发表评论”。此外，”<b>随着时间的推移，董事会可能需要解决SLR当前的设计和校准问题，以防止出现既限制经济增长又破坏金融稳定的压力</b>”——简而言之，如果收益率飙升，美联储将立即重新引入SLR：</blockquote></p><p>The Federal Reserve Board on Friday announced that the temporary change to its supplementary leverage ratio, or SLR, for bank holding companies will expire as scheduled on March 31. <b>Additionally, the Board will shortly seek comment on measures to adjust the SLR. The Board will take appropriate actions to assure that any changes to the SLR do not erode the overall strength of bank capital requirements.</b>To ease strains in the Treasury market resulting from the COVID-19 pandemic and to promote lending to households and businesses, the Board temporarily modified the SLR last year to exclude U.S. Treasury securities and central bank reserves. Since that time, the Treasury market has stabilized. <b>However, because of recent growth in the supply of central bank reserves and the issuance of Treasury securities, the Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability.To ensure that the SLR—which was established in 2014 as an additional capital requirement—remains effective in an environment of higher reserves, the Board will soon be inviting public comment on several potential SLR modifications.</b>The proposal and comments will contribute to ongoing discussions with the Department of the Treasury and other regulators on future work to ensure the resiliency of the Treasury market.The Fed's soothing wods notwithstanding,<b>having been primed for a favorable outcome, the Fed's disappointing announcement was hardly the news traders were hoping for and stocks tumbled...</b></p><p><blockquote>美联储周五宣布，银行控股公司补充杠杆率（SLR）的临时变化将于3月31日如期到期。<b>此外，董事会将很快就调整SLR的措施征求意见。董事会将采取适当行动，确保SLR的任何变化不会削弱银行资本要求的整体实力。</b>为了缓解COVID-19大流行造成的国债市场压力并促进对家庭和企业的贷款，董事会去年暂时修改了SLR，将美国国债和央行储备排除在外。从那时起，国债市场已经稳定下来。<b>然而，由于最近中央银行储备供应和国债发行的增长，理事会可能需要随着时间的推移解决SLR的当前设计和校准问题，以防止出现既限制经济增长又破坏金融稳定的压力。为了确保SLR（2014年作为额外资本要求而设立）在准备金较高的环境下保持有效，董事会将很快就几项潜在的SLR修改征求公众意见。</b>该提案和评论将有助于与财政部和其他监管机构就未来工作进行持续讨论，以确保国债市场的弹性。尽管美联储的WOD令人宽慰，<b>在为有利的结果做好准备后，美联储令人失望的声明几乎不是交易员所希望的消息，股市暴跌...</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/c341c3843a5031cd1599c2c89e198050\" tg-width=\"500\" tg-height=\"305\" referrerpolicy=\"no-referrer\">Bond yields spiked...</p><p><blockquote>债券收益率飙升...</blockquote></p><p><img src=\"https://static.tigerbbs.com/14173c1ce587fb45efe4c30ecc1dfbab\" tg-width=\"500\" tg-height=\"284\" referrerpolicy=\"no-referrer\">... while the stock of JPM, which is the most exposed bank to SLR relief (as noted yesterday in \"Facing Up To JP Morgan's Leverage Relief Threats\")...</p><p><blockquote>...而摩根大通的股票是受SLR救济影响最大的银行（正如昨天在“面对摩根大通的杠杆救济威胁”中所指出的）...</blockquote></p><p><img src=\"https://static.tigerbbs.com/32811183fba3dbddf1c440836298c7f3\" tg-width=\"500\" tg-height=\"602\" referrerpolicy=\"no-referrer\">.... slumped.</p><p><blockquote>....萎靡不振。</blockquote></p><p><img src=\"https://static.tigerbbs.com/2fba41463f15e79d2b8436cdd6a526fc\" tg-width=\"500\" tg-height=\"306\" referrerpolicy=\"no-referrer\">In case you've been living under a rock, here's why you should care about the SLR decision: First, for those whomissed our primer on the issue, some background from JPM (ironically the one bank that has the most to lose from the Fed's decision) the bottom line is that without SLR relief,<b>banks may have to delever, raise new capital, halt buybacks, sell preferred stock, turn down deposits and generally push back on reserves (not necessarily all of these, and not in that order) just as the Fed is injecting hundreds of billions of reserves into the market as the Treasury depletes its TGA account.</b></p><p><blockquote>如果您一直生活在岩石下，以下是您应该关心SLR决定的原因：首先，对于那些错过了我们关于这个问题的入门知识的人来说，摩根大通的一些背景（具有讽刺意味的是，这是一家从美联储损失最大的银行）的决定）底线是，如果没有SLR救济，<b>银行可能不得不去杠杆化、筹集新资本、停止回购、出售优先股、拒绝存款并普遍减少准备金（不一定是所有这些，也不是按这个顺序），就像美联储向市场注入数千亿美元一样随着财政部耗尽其TGA账户。</b></blockquote></p><p></p><p>The massive expansion of the Fed’s balance that has occurred implied an equally massive growth in bank reserves held at Federal Reserve banks. <b>The expiration of the regulatory relief would add ~$2.1tn of leverage exposure across the 8 GSIBs. As well, TGA reduction and continued QE could add another ~$2.35tn of deposits to the system during 2021.</b><img src=\"https://static.tigerbbs.com/392342c2f3e1dd008b2276172a9b3ecf\" tg-width=\"500\" tg-height=\"253\" referrerpolicy=\"no-referrer\">While the expiry of the carve-out on March 31 would not have an immediate impact on GSIBs, the continued increase in leverage assets throughout the course of the year would increase long-term debt (LTD) and preferred requirements. Here, JPM takes an optimistic view and writes that<b>\"even the “worst” case issuance scenario as very manageable, with LTD needs of $35bn for TLAC requirements and preferred needs of $15-$20bn to maintain the industry-wide SLR at 5.6%.</b></p><p><blockquote>美联储资产负债表的大幅扩张意味着美联储银行持有的银行准备金也同样大幅增长。<b>监管救济到期将使8个GSIB的杠杆敞口增加约2.1万亿美元。此外，TGA的减少和持续的量化宽松可能会在2021年为系统再增加约2.35万亿美元的存款。</b>虽然3月31日豁免到期不会对GSIB产生直接影响，但全年杠杆资产的持续增加将增加长期债务(LTD)和优先要求。在这里，摩根大通持乐观观点，并写道<b>“即使是‘最坏’的发行情况也是非常可控的，LTD需要350亿美元来满足TLAC要求，优先需求为150-200亿美元，以将全行业SLR维持在5.6%。</b></blockquote></p><p>The constraint is greater at the bank entity, where the capacity to grow leverage exposure to be ~$765bn at 6.2% SLR.\"Goldman's take was more troubling: the bank estimated that under the continued QE regime, there would be a shortfall of some $2 trillion in reserve capacity, mainly in the form of deposits which the banks would be unable to accept as part of ongoing QE (much more in Goldman'sfull take of the SLR quandary).</p><p><blockquote>银行实体的限制更大，其杠杆敞口增加的能力约为7,650亿美元，SLR为6.2%。”高盛的观点更令人不安：该行估计，在持续的量化宽松制度下，储备能力将出现约2万亿美元的缺口，主要是银行无法接受的存款形式，作为正在进行的量化宽松的一部分（高盛对SLR困境的全面理解更是如此）。</blockquote></p><p><b>So what happens next?</b></p><p><blockquote><b>那么接下来会发生什么呢？</b></blockquote></p><p>Addressing this topic, yesterday Curvature's Scott Skyrm wrote that \"<i>the largest banks are enjoying much larger balance sheets, but there are political factors in Washington that are against an extension of the exemption.... Here are a couple of scenarios and their implications on the Repo market</i>:</p><p><blockquote>针对这个话题，昨天Curvature的Scott Skyrm写道“<i>最大的银行享有更大的资产负债表，但华盛顿有政治因素反对延长豁免....以下是几种情况及其对回购市场的影响</i>：</blockquote></p><p>The exemption is extended 3 months or 6 months - No impact on the Repo market. It's already fully priced-in.The exemption is continued for reserves, but ended for Treasurys. <b>Since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise. Volatility increases as Repo assets move from the largest banks to the other Repo market participants.The exemption is ended for both reserves and Treasurys. Same as above.</b>In other words, Skyrm has a relatively downbeat view, warning that \"since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise.\" Additionally, volatility is likely to increase as repo assets move from the largest banks to the other Repo market participants...</p><p><blockquote>豁免延长3个月或6个月——对回购市场没有影响。它已经完全定价了。准备金的豁免继续，但国债的豁免结束。<b>由于大型银行是回购市场上最大的现金提供者，因此进入市场的现金减少，回购利率上升。随着回购资产从最大的银行转移到其他回购市场参与者，波动性会增加。储备和国库的豁免均终止。同上。</b>换句话说，Skyrm持相对悲观的观点，警告称“由于大型银行是回购市场上最大的现金提供者，因此进入市场的现金减少，回购利率上升。”此外，随着回购资产从最大的银行转移到其他回购市场参与者，波动性可能会增加...</blockquote></p><p>Perhaps a bit too draconian? Well, last week, JPMorgan laid out 5 scenarios for SLR, of which two predicted the end of SLR relief on March 31, as follow:</p><p><blockquote>也许有点太严厉了？上周，摩根大通为SLR制定了5种情景，其中两种预测SLR救济将于3月31日结束，具体如下：</blockquote></p><p><u><b>3. Relief ends March 31, banks fully raise capital</b></u> <b>Impact on BanksRatesFront-End Rates</b> <u><b>4. Relief ends March 31, banks raise capital &amp; de-lever</b></u> <b>Impact on BanksRatesFront-End Rates</b>Going back to Zoltan, let's recallthat the repo gurualso cautioned that \"ending the exemption of reserves and Treasuries from the calculation of the SLR may mean that U.S. banks will turn away deposits and reserves on the margin (not Treasuries) to leave more room for market-making activities,<b>and these flows will swell further money funds’ inflows coming from TGA drawdowns.</b>\"</p><p><blockquote><u><b>3.纾困3月31日结束银行全面融资</b></u><b>对银行利率的影响前端利率</b><u><b>4.纾困3月31日结束，银行增资去杠杆</b></u><b>对银行利率的影响前端利率</b>回到Zoltan，让我们回想一下，这位回购大师还警告说，“结束准备金和国债在SLR计算中的豁免可能意味着美国银行将拒绝保证金（而不是国债）的存款和准备金，为市场留出更多空间。做市活动，<b>这些资金流动将进一步增加来自TGA提款的货币基金流入。</b>\"</blockquote></p><p>More importantly, Zoltan does not expect broad chaos in repo or broader markets, and instead provides a more benign view on the negligible impact the SLR has had (and will be if it is eliminated), as he explained in a note from Tuesday.</p><p><blockquote>更重要的是，Zoltan预计回购或更广泛的市场不会出现广泛的混乱，相反，正如他在周二的一份报告中解释的那样，他对SLR已经产生的微不足道的影响（如果它被消除，将会产生）提供了更良性的看法。</blockquote></p><p><img src=\"https://static.tigerbbs.com/caeeb2b1290e084832f29d61cea6a90b\" tg-width=\"500\" tg-height=\"534\" referrerpolicy=\"no-referrer\">How to determine if Zoltan's benign view is correct? He concluded his note by writing that \"given that our call for a zero-to-negative FRA-OIS spread by the end of June was predicated on the end of SLR extension and an assumption that the Fed will try to fix a quantity problem with prices, not quantities, today’s adjustments mean that FRA-OIS won’t trade all the way down to zero or negative territory.\"</p><p><blockquote>如何确定Zoltan的良性观点是否正确？他在报告的最后写道，“鉴于我们到6月底FRA-OIS利差为零至负的看涨期权是基于SLR延期的结束以及美联储将尝试解决数量问题的假设价格而不是数量，今天的调整意味着FRA-OIS不会一直跌至零或负值。”</blockquote></p><p>FRA-OIS from here will be a function of how tight FX swaps will trade relative to OIS, but Treasury bills trading at deeply sub-zero rates is no longer a risk...While Bills have occasionally dipped into the negative territory on occasion, so far they have avoided a fullblown plunge into NIRP, which may be just the positive sign the market is waiting for to ease the nerves associated with the sudden and largely unexpected end of the SLR exemption.</p><p><blockquote>这里的FRA-OIS将取决于外汇掉期相对于OIS的交易紧张程度，但以远低于零利率交易的国库券不再是一种风险...虽然账单偶尔会跌入负值，但到目前为止，它们避免了全面陷入NIRP，这可能只是市场正在等待的积极信号，以缓解与SLR豁免突然且基本上出乎意料的结束相关的紧张情绪。</blockquote></p><p>* *&nbsp; *</p><p><blockquote>** *</blockquote></p><p></p><p>Finally, for those curious what the immediate market impact will be, NatWest strategist Blake Gwinn writes that the Fed announcement that they’re letting regulatory exemptions for banks expire at the end of the month \"really threads the needle and \"assuages concerns about the potential long-term impact on the markets\" as<b>the SLR \"ends it but defuses a lot of the knee-jerk market reaction” by pledging to address the current design and calibration of the supplementary leverage ratio to prevent strains from developing</b>.</p><p><blockquote>最后，对于那些好奇对市场的直接影响会是什么的人来说，国民西敏寺银行策略师布莱克·格温(Blake Gwinn)写道，美联储宣布银行监管豁免将于本月底到期，“确实是穿针引线”，缓解了人们对银行监管豁免的担忧。对市场的潜在长期影响<b>SLR承诺解决补充杠杆率的当前设计和校准问题，以防止紧张局势的发展，从而“结束了它，但化解了许多下意识的市场反应”</b>.</blockquote></p><p>“I was never worried about a day-one bank puke of Treasuries or drawdown in repo or anything like that on no renewal,” Gwinn said. “My concern was the longer run,” like as reserves continue to rise, would the SLR “become a nuisance and drag on Treasuries and spreads” Gwinn concludes that with the statement, the Fed is<b>\"really speaking to those fears and basically saying, ‘don’t worry, we are on it’.”</b></p><p><blockquote>格温说：“我从来不担心银行第一天就会吐出国债或回购提款或类似的情况。”“我担心的是，从长远来看”，随着准备金继续上升，SLR是否会“成为一个麻烦并拖累国债和利差”格温总结道，通过这份声明，美联储<b>“真正解决这些恐惧，基本上是说，‘别担心，我们正在努力’。”</b></blockquote></p><p>Well, with yields spiking to HOD in early quad-witch trading, the market sure seems quite skeptical that the Fed is on anything.</p><p><blockquote>好吧，随着收益率在早期四女巫交易中飙升至HOD，市场似乎确实对美联储的行动持怀疑态度。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nFed Disappoints Market, Lets SLR Relief Expire: What Happens Next<blockquote>美联储令市场失望，让SLR救助到期：接下来会发生什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-03-19 22:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio (SLR) exemption expire as scheduled on March 31, the one year anniversary of the rule change.</p><p><blockquote>正如本文所暗示和深入讨论的那样，在伊丽莎白·沃伦(Elizabeth Warren)和谢罗德·布朗(Sherrod Brown)等进步民主党人的政治压力下，美联储决定让临时补充杠杆率(SLR)豁免如期于3月31日（规则变更一周年）到期。</blockquote></p><p>The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on March 31, 2021.The temporary change was made to provide flexibility for depository institutions to provide credit to households and businesses in light of the COVID-19 event.<img src=\"https://static.tigerbbs.com/b822960da59d651f093b5113cd0c3fd0\" tg-width=\"500\" tg-height=\"319\" referrerpolicy=\"no-referrer\">This outcome is theone (again) correctly predictedby former NY Fed guru Zoltan Pozsar who following the FOMC said that \"the fact that the Fed made this adjustment practically preemptively – the o/n RRP facility is not being used at the moment, so there are no capacity constraints yet, while repo and bill yields aren’t trading negative yet –<b>suggests that the Fed is “foaming the runway” for the end of SLR exemption</b>.\"</p><p><blockquote>联邦银行监管机构今天宣布，2020年5月15日发布的存款机构补充杠杆率（SLR）的临时变更将于2021年3月31日如期到期。鉴于新冠肺炎事件，这一临时变化是为了为存款机构向家庭和企业提供信贷提供灵活性。这一结果是前纽约联储大师Zoltan Pozsar（再次）正确预测的结果，他跟随FOMC表示，“事实上，美联储实际上是先发制人地做出了这一调整——目前没有使用o/n RRP工具，因此没有能力限制，而回购和票据收益率尚未为负——<b>暗示美联储正在为SLR豁免的结束“铺路”</b>.\"</blockquote></p><p>Knowing well this would be a very hot button issue for the market, the Fed published thefollowing statementto ease trader nerves, noting that while the SLR special treatment will expire on March 31, the Fed is \"inviting public comment on several potential SLR modifications\" and furthermore, \"<b>Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability</b>\" - in short, if yields spike, the Fed will re-introduce the SLR without delay:</p><p><blockquote>美联储深知这将是市场的一个非常热门的问题，因此发表了以下声明以缓解交易员的紧张情绪，并指出，虽然SLR特殊待遇将于3月31日到期，但美联储正在“邀请公众就几项潜在的SLR修改发表评论”。此外，”<b>随着时间的推移，董事会可能需要解决SLR当前的设计和校准问题，以防止出现既限制经济增长又破坏金融稳定的压力</b>”——简而言之，如果收益率飙升，美联储将立即重新引入SLR：</blockquote></p><p>The Federal Reserve Board on Friday announced that the temporary change to its supplementary leverage ratio, or SLR, for bank holding companies will expire as scheduled on March 31. <b>Additionally, the Board will shortly seek comment on measures to adjust the SLR. The Board will take appropriate actions to assure that any changes to the SLR do not erode the overall strength of bank capital requirements.</b>To ease strains in the Treasury market resulting from the COVID-19 pandemic and to promote lending to households and businesses, the Board temporarily modified the SLR last year to exclude U.S. Treasury securities and central bank reserves. Since that time, the Treasury market has stabilized. <b>However, because of recent growth in the supply of central bank reserves and the issuance of Treasury securities, the Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability.To ensure that the SLR—which was established in 2014 as an additional capital requirement—remains effective in an environment of higher reserves, the Board will soon be inviting public comment on several potential SLR modifications.</b>The proposal and comments will contribute to ongoing discussions with the Department of the Treasury and other regulators on future work to ensure the resiliency of the Treasury market.The Fed's soothing wods notwithstanding,<b>having been primed for a favorable outcome, the Fed's disappointing announcement was hardly the news traders were hoping for and stocks tumbled...</b></p><p><blockquote>美联储周五宣布，银行控股公司补充杠杆率（SLR）的临时变化将于3月31日如期到期。<b>此外，董事会将很快就调整SLR的措施征求意见。董事会将采取适当行动，确保SLR的任何变化不会削弱银行资本要求的整体实力。</b>为了缓解COVID-19大流行造成的国债市场压力并促进对家庭和企业的贷款，董事会去年暂时修改了SLR，将美国国债和央行储备排除在外。从那时起，国债市场已经稳定下来。<b>然而，由于最近中央银行储备供应和国债发行的增长，理事会可能需要随着时间的推移解决SLR的当前设计和校准问题，以防止出现既限制经济增长又破坏金融稳定的压力。为了确保SLR（2014年作为额外资本要求而设立）在准备金较高的环境下保持有效，董事会将很快就几项潜在的SLR修改征求公众意见。</b>该提案和评论将有助于与财政部和其他监管机构就未来工作进行持续讨论，以确保国债市场的弹性。尽管美联储的WOD令人宽慰，<b>在为有利的结果做好准备后，美联储令人失望的声明几乎不是交易员所希望的消息，股市暴跌...</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/c341c3843a5031cd1599c2c89e198050\" tg-width=\"500\" tg-height=\"305\" referrerpolicy=\"no-referrer\">Bond yields spiked...</p><p><blockquote>债券收益率飙升...</blockquote></p><p><img src=\"https://static.tigerbbs.com/14173c1ce587fb45efe4c30ecc1dfbab\" tg-width=\"500\" tg-height=\"284\" referrerpolicy=\"no-referrer\">... while the stock of JPM, which is the most exposed bank to SLR relief (as noted yesterday in \"Facing Up To JP Morgan's Leverage Relief Threats\")...</p><p><blockquote>...而摩根大通的股票是受SLR救济影响最大的银行（正如昨天在“面对摩根大通的杠杆救济威胁”中所指出的）...</blockquote></p><p><img src=\"https://static.tigerbbs.com/32811183fba3dbddf1c440836298c7f3\" tg-width=\"500\" tg-height=\"602\" referrerpolicy=\"no-referrer\">.... slumped.</p><p><blockquote>....萎靡不振。</blockquote></p><p><img src=\"https://static.tigerbbs.com/2fba41463f15e79d2b8436cdd6a526fc\" tg-width=\"500\" tg-height=\"306\" referrerpolicy=\"no-referrer\">In case you've been living under a rock, here's why you should care about the SLR decision: First, for those whomissed our primer on the issue, some background from JPM (ironically the one bank that has the most to lose from the Fed's decision) the bottom line is that without SLR relief,<b>banks may have to delever, raise new capital, halt buybacks, sell preferred stock, turn down deposits and generally push back on reserves (not necessarily all of these, and not in that order) just as the Fed is injecting hundreds of billions of reserves into the market as the Treasury depletes its TGA account.</b></p><p><blockquote>如果您一直生活在岩石下，以下是您应该关心SLR决定的原因：首先，对于那些错过了我们关于这个问题的入门知识的人来说，摩根大通的一些背景（具有讽刺意味的是，这是一家从美联储损失最大的银行）的决定）底线是，如果没有SLR救济，<b>银行可能不得不去杠杆化、筹集新资本、停止回购、出售优先股、拒绝存款并普遍减少准备金（不一定是所有这些，也不是按这个顺序），就像美联储向市场注入数千亿美元一样随着财政部耗尽其TGA账户。</b></blockquote></p><p></p><p>The massive expansion of the Fed’s balance that has occurred implied an equally massive growth in bank reserves held at Federal Reserve banks. <b>The expiration of the regulatory relief would add ~$2.1tn of leverage exposure across the 8 GSIBs. As well, TGA reduction and continued QE could add another ~$2.35tn of deposits to the system during 2021.</b><img src=\"https://static.tigerbbs.com/392342c2f3e1dd008b2276172a9b3ecf\" tg-width=\"500\" tg-height=\"253\" referrerpolicy=\"no-referrer\">While the expiry of the carve-out on March 31 would not have an immediate impact on GSIBs, the continued increase in leverage assets throughout the course of the year would increase long-term debt (LTD) and preferred requirements. Here, JPM takes an optimistic view and writes that<b>\"even the “worst” case issuance scenario as very manageable, with LTD needs of $35bn for TLAC requirements and preferred needs of $15-$20bn to maintain the industry-wide SLR at 5.6%.</b></p><p><blockquote>美联储资产负债表的大幅扩张意味着美联储银行持有的银行准备金也同样大幅增长。<b>监管救济到期将使8个GSIB的杠杆敞口增加约2.1万亿美元。此外，TGA的减少和持续的量化宽松可能会在2021年为系统再增加约2.35万亿美元的存款。</b>虽然3月31日豁免到期不会对GSIB产生直接影响，但全年杠杆资产的持续增加将增加长期债务(LTD)和优先要求。在这里，摩根大通持乐观观点，并写道<b>“即使是‘最坏’的发行情况也是非常可控的，LTD需要350亿美元来满足TLAC要求，优先需求为150-200亿美元，以将全行业SLR维持在5.6%。</b></blockquote></p><p>The constraint is greater at the bank entity, where the capacity to grow leverage exposure to be ~$765bn at 6.2% SLR.\"Goldman's take was more troubling: the bank estimated that under the continued QE regime, there would be a shortfall of some $2 trillion in reserve capacity, mainly in the form of deposits which the banks would be unable to accept as part of ongoing QE (much more in Goldman'sfull take of the SLR quandary).</p><p><blockquote>银行实体的限制更大，其杠杆敞口增加的能力约为7,650亿美元，SLR为6.2%。”高盛的观点更令人不安：该行估计，在持续的量化宽松制度下，储备能力将出现约2万亿美元的缺口，主要是银行无法接受的存款形式，作为正在进行的量化宽松的一部分（高盛对SLR困境的全面理解更是如此）。</blockquote></p><p><b>So what happens next?</b></p><p><blockquote><b>那么接下来会发生什么呢？</b></blockquote></p><p>Addressing this topic, yesterday Curvature's Scott Skyrm wrote that \"<i>the largest banks are enjoying much larger balance sheets, but there are political factors in Washington that are against an extension of the exemption.... Here are a couple of scenarios and their implications on the Repo market</i>:</p><p><blockquote>针对这个话题，昨天Curvature的Scott Skyrm写道“<i>最大的银行享有更大的资产负债表，但华盛顿有政治因素反对延长豁免....以下是几种情况及其对回购市场的影响</i>：</blockquote></p><p>The exemption is extended 3 months or 6 months - No impact on the Repo market. It's already fully priced-in.The exemption is continued for reserves, but ended for Treasurys. <b>Since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise. Volatility increases as Repo assets move from the largest banks to the other Repo market participants.The exemption is ended for both reserves and Treasurys. Same as above.</b>In other words, Skyrm has a relatively downbeat view, warning that \"since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise.\" Additionally, volatility is likely to increase as repo assets move from the largest banks to the other Repo market participants...</p><p><blockquote>豁免延长3个月或6个月——对回购市场没有影响。它已经完全定价了。准备金的豁免继续，但国债的豁免结束。<b>由于大型银行是回购市场上最大的现金提供者，因此进入市场的现金减少，回购利率上升。随着回购资产从最大的银行转移到其他回购市场参与者，波动性会增加。储备和国库的豁免均终止。同上。</b>换句话说，Skyrm持相对悲观的观点，警告称“由于大型银行是回购市场上最大的现金提供者，因此进入市场的现金减少，回购利率上升。”此外，随着回购资产从最大的银行转移到其他回购市场参与者，波动性可能会增加...</blockquote></p><p>Perhaps a bit too draconian? Well, last week, JPMorgan laid out 5 scenarios for SLR, of which two predicted the end of SLR relief on March 31, as follow:</p><p><blockquote>也许有点太严厉了？上周，摩根大通为SLR制定了5种情景，其中两种预测SLR救济将于3月31日结束，具体如下：</blockquote></p><p><u><b>3. Relief ends March 31, banks fully raise capital</b></u> <b>Impact on BanksRatesFront-End Rates</b> <u><b>4. Relief ends March 31, banks raise capital &amp; de-lever</b></u> <b>Impact on BanksRatesFront-End Rates</b>Going back to Zoltan, let's recallthat the repo gurualso cautioned that \"ending the exemption of reserves and Treasuries from the calculation of the SLR may mean that U.S. banks will turn away deposits and reserves on the margin (not Treasuries) to leave more room for market-making activities,<b>and these flows will swell further money funds’ inflows coming from TGA drawdowns.</b>\"</p><p><blockquote><u><b>3.纾困3月31日结束银行全面融资</b></u><b>对银行利率的影响前端利率</b><u><b>4.纾困3月31日结束，银行增资去杠杆</b></u><b>对银行利率的影响前端利率</b>回到Zoltan，让我们回想一下，这位回购大师还警告说，“结束准备金和国债在SLR计算中的豁免可能意味着美国银行将拒绝保证金（而不是国债）的存款和准备金，为市场留出更多空间。做市活动，<b>这些资金流动将进一步增加来自TGA提款的货币基金流入。</b>\"</blockquote></p><p>More importantly, Zoltan does not expect broad chaos in repo or broader markets, and instead provides a more benign view on the negligible impact the SLR has had (and will be if it is eliminated), as he explained in a note from Tuesday.</p><p><blockquote>更重要的是，Zoltan预计回购或更广泛的市场不会出现广泛的混乱，相反，正如他在周二的一份报告中解释的那样，他对SLR已经产生的微不足道的影响（如果它被消除，将会产生）提供了更良性的看法。</blockquote></p><p><img src=\"https://static.tigerbbs.com/caeeb2b1290e084832f29d61cea6a90b\" tg-width=\"500\" tg-height=\"534\" referrerpolicy=\"no-referrer\">How to determine if Zoltan's benign view is correct? He concluded his note by writing that \"given that our call for a zero-to-negative FRA-OIS spread by the end of June was predicated on the end of SLR extension and an assumption that the Fed will try to fix a quantity problem with prices, not quantities, today’s adjustments mean that FRA-OIS won’t trade all the way down to zero or negative territory.\"</p><p><blockquote>如何确定Zoltan的良性观点是否正确？他在报告的最后写道，“鉴于我们到6月底FRA-OIS利差为零至负的看涨期权是基于SLR延期的结束以及美联储将尝试解决数量问题的假设价格而不是数量，今天的调整意味着FRA-OIS不会一直跌至零或负值。”</blockquote></p><p>FRA-OIS from here will be a function of how tight FX swaps will trade relative to OIS, but Treasury bills trading at deeply sub-zero rates is no longer a risk...While Bills have occasionally dipped into the negative territory on occasion, so far they have avoided a fullblown plunge into NIRP, which may be just the positive sign the market is waiting for to ease the nerves associated with the sudden and largely unexpected end of the SLR exemption.</p><p><blockquote>这里的FRA-OIS将取决于外汇掉期相对于OIS的交易紧张程度，但以远低于零利率交易的国库券不再是一种风险...虽然账单偶尔会跌入负值，但到目前为止，它们避免了全面陷入NIRP，这可能只是市场正在等待的积极信号，以缓解与SLR豁免突然且基本上出乎意料的结束相关的紧张情绪。</blockquote></p><p>* *&nbsp; *</p><p><blockquote>** *</blockquote></p><p></p><p>Finally, for those curious what the immediate market impact will be, NatWest strategist Blake Gwinn writes that the Fed announcement that they’re letting regulatory exemptions for banks expire at the end of the month \"really threads the needle and \"assuages concerns about the potential long-term impact on the markets\" as<b>the SLR \"ends it but defuses a lot of the knee-jerk market reaction” by pledging to address the current design and calibration of the supplementary leverage ratio to prevent strains from developing</b>.</p><p><blockquote>最后，对于那些好奇对市场的直接影响会是什么的人来说，国民西敏寺银行策略师布莱克·格温(Blake Gwinn)写道，美联储宣布银行监管豁免将于本月底到期，“确实是穿针引线”，缓解了人们对银行监管豁免的担忧。对市场的潜在长期影响<b>SLR承诺解决补充杠杆率的当前设计和校准问题，以防止紧张局势的发展，从而“结束了它，但化解了许多下意识的市场反应”</b>.</blockquote></p><p>“I was never worried about a day-one bank puke of Treasuries or drawdown in repo or anything like that on no renewal,” Gwinn said. “My concern was the longer run,” like as reserves continue to rise, would the SLR “become a nuisance and drag on Treasuries and spreads” Gwinn concludes that with the statement, the Fed is<b>\"really speaking to those fears and basically saying, ‘don’t worry, we are on it’.”</b></p><p><blockquote>格温说：“我从来不担心银行第一天就会吐出国债或回购提款或类似的情况。”“我担心的是，从长远来看”，随着准备金继续上升，SLR是否会“成为一个麻烦并拖累国债和利差”格温总结道，通过这份声明，美联储<b>“真正解决这些恐惧，基本上是说，‘别担心，我们正在努力’。”</b></blockquote></p><p>Well, with yields spiking to HOD in early quad-witch trading, the market sure seems quite skeptical that the Fed is on anything.</p><p><blockquote>好吧，随着收益率在早期四女巫交易中飙升至HOD，市场似乎确实对美联储的行动持怀疑态度。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/stocks-bopnds-tank-after-fed-lets-slr-relief-expire\">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":{},"source_url":"https://www.zerohedge.com/markets/stocks-bopnds-tank-after-fed-lets-slr-relief-expire","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199154789","content_text":"As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio (SLR) exemption expire as scheduled on March 31, the one year anniversary of the rule change.The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on March 31, 2021.The temporary change was made to provide flexibility for depository institutions to provide credit to households and businesses in light of the COVID-19 event.This outcome is theone (again) correctly predictedby former NY Fed guru Zoltan Pozsar who following the FOMC said that \"the fact that the Fed made this adjustment practically preemptively – the o/n RRP facility is not being used at the moment, so there are no capacity constraints yet, while repo and bill yields aren’t trading negative yet –suggests that the Fed is “foaming the runway” for the end of SLR exemption.\"Knowing well this would be a very hot button issue for the market, the Fed published thefollowing statementto ease trader nerves, noting that while the SLR special treatment will expire on March 31, the Fed is \"inviting public comment on several potential SLR modifications\" and furthermore, \"Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability\" - in short, if yields spike, the Fed will re-introduce the SLR without delay:The Federal Reserve Board on Friday announced that the temporary change to its supplementary leverage ratio, or SLR, for bank holding companies will expire as scheduled on March 31. Additionally, the Board will shortly seek comment on measures to adjust the SLR. The Board will take appropriate actions to assure that any changes to the SLR do not erode the overall strength of bank capital requirements.To ease strains in the Treasury market resulting from the COVID-19 pandemic and to promote lending to households and businesses, the Board temporarily modified the SLR last year to exclude U.S. Treasury securities and central bank reserves. Since that time, the Treasury market has stabilized. However, because of recent growth in the supply of central bank reserves and the issuance of Treasury securities, the Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability.To ensure that the SLR—which was established in 2014 as an additional capital requirement—remains effective in an environment of higher reserves, the Board will soon be inviting public comment on several potential SLR modifications.The proposal and comments will contribute to ongoing discussions with the Department of the Treasury and other regulators on future work to ensure the resiliency of the Treasury market.The Fed's soothing wods notwithstanding,having been primed for a favorable outcome, the Fed's disappointing announcement was hardly the news traders were hoping for and stocks tumbled...Bond yields spiked...... while the stock of JPM, which is the most exposed bank to SLR relief (as noted yesterday in \"Facing Up To JP Morgan's Leverage Relief Threats\")....... slumped.In case you've been living under a rock, here's why you should care about the SLR decision: First, for those whomissed our primer on the issue, some background from JPM (ironically the one bank that has the most to lose from the Fed's decision) the bottom line is that without SLR relief,banks may have to delever, raise new capital, halt buybacks, sell preferred stock, turn down deposits and generally push back on reserves (not necessarily all of these, and not in that order) just as the Fed is injecting hundreds of billions of reserves into the market as the Treasury depletes its TGA account.The massive expansion of the Fed’s balance that has occurred implied an equally massive growth in bank reserves held at Federal Reserve banks. The expiration of the regulatory relief would add ~$2.1tn of leverage exposure across the 8 GSIBs. As well, TGA reduction and continued QE could add another ~$2.35tn of deposits to the system during 2021.While the expiry of the carve-out on March 31 would not have an immediate impact on GSIBs, the continued increase in leverage assets throughout the course of the year would increase long-term debt (LTD) and preferred requirements. Here, JPM takes an optimistic view and writes that\"even the “worst” case issuance scenario as very manageable, with LTD needs of $35bn for TLAC requirements and preferred needs of $15-$20bn to maintain the industry-wide SLR at 5.6%.The constraint is greater at the bank entity, where the capacity to grow leverage exposure to be ~$765bn at 6.2% SLR.\"Goldman's take was more troubling: the bank estimated that under the continued QE regime, there would be a shortfall of some $2 trillion in reserve capacity, mainly in the form of deposits which the banks would be unable to accept as part of ongoing QE (much more in Goldman'sfull take of the SLR quandary).So what happens next?Addressing this topic, yesterday Curvature's Scott Skyrm wrote that \"the largest banks are enjoying much larger balance sheets, but there are political factors in Washington that are against an extension of the exemption.... Here are a couple of scenarios and their implications on the Repo market:The exemption is extended 3 months or 6 months - No impact on the Repo market. It's already fully priced-in.The exemption is continued for reserves, but ended for Treasurys. Since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise. Volatility increases as Repo assets move from the largest banks to the other Repo market participants.The exemption is ended for both reserves and Treasurys. Same as above.In other words, Skyrm has a relatively downbeat view, warning that \"since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise.\" Additionally, volatility is likely to increase as repo assets move from the largest banks to the other Repo market participants...Perhaps a bit too draconian? Well, last week, JPMorgan laid out 5 scenarios for SLR, of which two predicted the end of SLR relief on March 31, as follow:3. Relief ends March 31, banks fully raise capital Impact on BanksRatesFront-End Rates 4. Relief ends March 31, banks raise capital & de-lever Impact on BanksRatesFront-End RatesGoing back to Zoltan, let's recallthat the repo gurualso cautioned that \"ending the exemption of reserves and Treasuries from the calculation of the SLR may mean that U.S. banks will turn away deposits and reserves on the margin (not Treasuries) to leave more room for market-making activities,and these flows will swell further money funds’ inflows coming from TGA drawdowns.\"More importantly, Zoltan does not expect broad chaos in repo or broader markets, and instead provides a more benign view on the negligible impact the SLR has had (and will be if it is eliminated), as he explained in a note from Tuesday.How to determine if Zoltan's benign view is correct? He concluded his note by writing that \"given that our call for a zero-to-negative FRA-OIS spread by the end of June was predicated on the end of SLR extension and an assumption that the Fed will try to fix a quantity problem with prices, not quantities, today’s adjustments mean that FRA-OIS won’t trade all the way down to zero or negative territory.\"FRA-OIS from here will be a function of how tight FX swaps will trade relative to OIS, but Treasury bills trading at deeply sub-zero rates is no longer a risk...While Bills have occasionally dipped into the negative territory on occasion, so far they have avoided a fullblown plunge into NIRP, which may be just the positive sign the market is waiting for to ease the nerves associated with the sudden and largely unexpected end of the SLR exemption.* *  *Finally, for those curious what the immediate market impact will be, NatWest strategist Blake Gwinn writes that the Fed announcement that they’re letting regulatory exemptions for banks expire at the end of the month \"really threads the needle and \"assuages concerns about the potential long-term impact on the markets\" asthe SLR \"ends it but defuses a lot of the knee-jerk market reaction” by pledging to address the current design and calibration of the supplementary leverage ratio to prevent strains from developing.“I was never worried about a day-one bank puke of Treasuries or drawdown in repo or anything like that on no renewal,” Gwinn said. “My concern was the longer run,” like as reserves continue to rise, would the SLR “become a nuisance and drag on Treasuries and spreads” Gwinn concludes that with the statement, the Fed is\"really speaking to those fears and basically saying, ‘don’t worry, we are on it’.”Well, with yields spiking to HOD in early quad-witch trading, the market sure seems quite skeptical that the Fed is on anything.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":302,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327588187,"gmtCreate":1616110338149,"gmtModify":1634527226104,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Yoyoyo reply like","listText":"Yoyoyo reply like","text":"Yoyoyo reply like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327588187","repostId":"1133539686","repostType":4,"isVote":1,"tweetType":1,"viewCount":454,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327845481,"gmtCreate":1616078023543,"gmtModify":1634527345791,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Reply n like!","listText":"Reply n like!","text":"Reply n like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327845481","repostId":"1163358852","repostType":4,"repost":{"id":"1163358852","kind":"news","pubTimestamp":1616076828,"share":"https://www.laohu8.com/m/news/1163358852?lang=zh_CN&edition=full","pubTime":"2021-03-18 22:13","market":"us","language":"en","title":"Why Wait for a Crash to Buy? These 3 Top Stocks Are Already Down More Than 40%<blockquote>为什么要等到崩盘才买入？这3只顶级股票已下跌超过40%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1163358852","media":"nasdaq","summary":"Investors love to be opportunistic. You can be sure the next time the market has a significant corre","content":"<p>Investors love to be opportunistic. You can be sure the next time the market has a significant correction -- or even an inevitable crash -- that battle-tested investors won't flinch at taking advantage of lower prices. What if I told you that a lot of promising growth stocks have<i>already</i>crashed?</p><p><blockquote>投资者喜欢投机取巧。你可以肯定的是，下次市场出现重大调整，甚至不可避免的崩盘时，久经考验的投资者不会因为利用较低的价格而退缩。如果我告诉你很多有前途的成长型股票<i>已经</i>撞车了？</blockquote></p><p>Shares of<b>Fastly</b>(NYSE: FSLY),<b>fuboTV</b>(NYSE: FUBO), and<b>Palantir Technologies</b>(NYSE: PLTR)have all fallen at least 40% from their 52-week highs. These aren't perfect stocks, but they're definitely not broken. Let's see why I think these are three investments are ripe for the picking in today's market climate.</p><p><blockquote>本公司之股份<b>快速地</b>（纽约证券交易所代码：FSLY），<b>富波电视</b>（纽约证券交易所代码：FUBO），以及<b>Palantir技术</b>(NYSE：PLTR)均较52周高点下跌至少40%。这些股票并不完美，但绝对没有坏。让我们看看为什么我认为在当今的市场环境下，这三项投资的时机已经成熟。</blockquote></p><p><b>1. Fastly</b></p><p><blockquote><b>1.快速</b></blockquote></p><p>This next-gen content delivery network was rocking until the clock ran out on TikTok last year. Caught on the losing end of a trade war dispute between the U.S. and China late last year, Fastlylost a top accountthat was generating more than 10% of its revenue through the first nine months of last year -- and growing quickly, to boot.</p><p><blockquote>这个下一代内容交付网络一直在摇摆，直到去年TikTok的时钟耗尽。去年年底，Fastly在中美贸易战争端中陷入失败，失去了一个顶级客户，该客户去年前9个月的收入占其收入的10%以上，而且增长迅速。</blockquote></p><p>There is life after TikTok, even if Fastly stock has shed nearly 45% of its value since topping out in October. Growth will slow from last year's 45% burst, but Fastly's guidance calls for decent 29% to 32% top-line growth in 2021. A recent acquisition is helping pad revenue gains, and Fastly's deficit will widen as it invests in new growth initiatives. This is far from a perfect company right now, but there's a lot to like here. Its net retention rate and dollar-based net expansion rate are slipping, but still comfortably over 100%. Fastly is keeping its customers happy, and there's no reason why the market believes that this is a little more than half the company it was five months ago.</p><p><blockquote>尽管Fastly股价自10月份见顶以来已下跌近45%，但TikTok之后仍有生机。增长将较去年45%的增幅放缓，但Fastly的指导评级是2021年营收增长29%至32%。最近的一次收购有助于增加收入，随着Fastly投资于新的增长计划，其赤字将扩大。目前这还远不是一家完美的公司，但这里有很多值得喜欢的地方。其净保留率和以美元计算的净扩张率正在下滑，但仍轻松超过100%。Fastly正在让客户满意，市场没有理由认为这只是五个月前公司的一半多一点。</blockquote></p><p><b>2. fuboTV</b></p><p><blockquote><b>2.fuboTV</b></blockquote></p><p>We're cutting the cord, and live-TV streaming services are there to fill the void that the leading streaming services can't provide when it comes to live network programming. No one is growing faster than fuboTV in this niche, and it's stepping on the accelerator. Pro forma revenue rose 71% in the third quarter, 98% in the fourth quarter, and fuboTV's guidance calls for growth of 98% to 102% for the current quarter.</p><p><blockquote>我们正在切断联系，直播电视流媒体服务将填补领先流媒体服务在直播网络节目方面无法提供的空白。在这个利基市场，没有人比fuboTV增长得更快，而且它正在踩油门。预计第三季度收入增长71%，第四季度增长98%，fuboTV的指导评级为本季度增长98%至102%。</blockquote></p><p>There are just545,000 subscribersright now, but they're a loyal and engaged lot of sports fans. Average revenue per user is up to $69.19 a month -- up 17% over the past year -- and that includes an industry-leading $8.47 a month in ad revenue. Why is this stock trading 49% below its December all-time high?</p><p><blockquote>目前只有545,000名订阅者，但他们是忠实且积极参与的体育迷。每个用户的平均收入高达每月69.19美元，比过去一年增长17%，其中包括行业领先的每月8.47美元的广告收入。为什么该股的交易价格比12月份的历史高点低49%？</blockquote></p><p>This isn't the only game to watch here. A pair of recent acquisitions will lead to a fantasy sports platform for members this summer and a more ambitious online sportsbook offering by the end of the year. If you think fuboTV's painting too rosy an outlook for 2021, keep in mind that it boosted its 2020 year-end guidance three times and it still found a way to come out on top.</p><p><blockquote>这不是这里唯一可以看的比赛。最近的两项收购将在今年夏天为会员带来一个梦幻体育平台，并在今年年底推出一个更雄心勃勃的在线体育博彩产品。如果您认为fuboTV对2021年的前景过于乐观，请记住，它三次上调了2020年年终指引，但仍然找到了脱颖而出的方法。</blockquote></p><p><b>3. Palantir</b></p><p><blockquote><b>3.Palantir</b></blockquote></p><p>Palantir and Fastly may initially seem to have been separated at birth. Both companies grew revenue by 40% in their latest quarter, off from a pace in the mid-40% range for all of 2020 (up 45% for Fastly versus 47% for Palantir). Both stocks were slammed on uninspiring guidance. Palantir istargeting 30% growthfor 2021, roughly the midpoint of Fastly's outlook. Wall Street can be a rough crowd when 30%-ish growth brings out the boo birds.</p><p><blockquote>Palantir和Fastly最初似乎在出生时就分开了。两家公司最近一个季度的收入增长了40%，低于2020年全年40%左右的增长率（Fastly增长45%，Palantir增长47%）。这两只股票都因指引平淡而遭受重创。Palantir的目标是2021年增长30%，大致是Fastly前景的中点。当30%左右的增长率引起嘘声时，华尔街可能会成为一群粗暴的人。</blockquote></p><p>Palantir's business model is naturally completely different than Fastly's. It's more ticktock than TikTok. Palantir's speciality is big-data business intelligence. It arms enterprises with actionable analysis from the data it collets. For better or worse more than half of Palantir's business comes from government contracts. It didn't generate a lot of buzz through its first few weeks of trading after last year'sIPO, but it certainly made up for lost time until peaking two months ago. It's been a 44% tumble from January's high. Palantir's valuation may have been overextended earlier this year, but this quality stock has gone from overbought to oversold in a hurry.</p><p><blockquote>Palantir的商业模式自然与Fastly完全不同。它比抖音更抖音。Palantir的专长是大数据商业智能。它从收集的数据中为企业提供可操作的分析。无论好坏，Palantir一半以上的业务来自政府合同。在去年IPO后的头几周交易中，它并没有引起太大的轰动，但它确实弥补了两个月前达到顶峰之前失去的时间。较1月份的高点下跌了44%。Palantir的估值在今年早些时候可能被高估了，但这只优质股票很快就从超买变成了超卖。</blockquote></p><p></p>","source":"lsy1603171495471","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 Wait for a Crash to Buy? These 3 Top Stocks Are Already Down More Than 40%<blockquote>为什么要等到崩盘才买入？这3只顶级股票已下跌超过40%</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 Wait for a Crash to Buy? These 3 Top Stocks Are Already Down More Than 40%<blockquote>为什么要等到崩盘才买入？这3只顶级股票已下跌超过40%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">nasdaq</strong><span class=\"h-time small\">2021-03-18 22:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Investors love to be opportunistic. You can be sure the next time the market has a significant correction -- or even an inevitable crash -- that battle-tested investors won't flinch at taking advantage of lower prices. What if I told you that a lot of promising growth stocks have<i>already</i>crashed?</p><p><blockquote>投资者喜欢投机取巧。你可以肯定的是，下次市场出现重大调整，甚至不可避免的崩盘时，久经考验的投资者不会因为利用较低的价格而退缩。如果我告诉你很多有前途的成长型股票<i>已经</i>撞车了？</blockquote></p><p>Shares of<b>Fastly</b>(NYSE: FSLY),<b>fuboTV</b>(NYSE: FUBO), and<b>Palantir Technologies</b>(NYSE: PLTR)have all fallen at least 40% from their 52-week highs. These aren't perfect stocks, but they're definitely not broken. Let's see why I think these are three investments are ripe for the picking in today's market climate.</p><p><blockquote>本公司之股份<b>快速地</b>（纽约证券交易所代码：FSLY），<b>富波电视</b>（纽约证券交易所代码：FUBO），以及<b>Palantir技术</b>(NYSE：PLTR)均较52周高点下跌至少40%。这些股票并不完美，但绝对没有坏。让我们看看为什么我认为在当今的市场环境下，这三项投资的时机已经成熟。</blockquote></p><p><b>1. Fastly</b></p><p><blockquote><b>1.快速</b></blockquote></p><p>This next-gen content delivery network was rocking until the clock ran out on TikTok last year. Caught on the losing end of a trade war dispute between the U.S. and China late last year, Fastlylost a top accountthat was generating more than 10% of its revenue through the first nine months of last year -- and growing quickly, to boot.</p><p><blockquote>这个下一代内容交付网络一直在摇摆，直到去年TikTok的时钟耗尽。去年年底，Fastly在中美贸易战争端中陷入失败，失去了一个顶级客户，该客户去年前9个月的收入占其收入的10%以上，而且增长迅速。</blockquote></p><p>There is life after TikTok, even if Fastly stock has shed nearly 45% of its value since topping out in October. Growth will slow from last year's 45% burst, but Fastly's guidance calls for decent 29% to 32% top-line growth in 2021. A recent acquisition is helping pad revenue gains, and Fastly's deficit will widen as it invests in new growth initiatives. This is far from a perfect company right now, but there's a lot to like here. Its net retention rate and dollar-based net expansion rate are slipping, but still comfortably over 100%. Fastly is keeping its customers happy, and there's no reason why the market believes that this is a little more than half the company it was five months ago.</p><p><blockquote>尽管Fastly股价自10月份见顶以来已下跌近45%，但TikTok之后仍有生机。增长将较去年45%的增幅放缓，但Fastly的指导评级是2021年营收增长29%至32%。最近的一次收购有助于增加收入，随着Fastly投资于新的增长计划，其赤字将扩大。目前这还远不是一家完美的公司，但这里有很多值得喜欢的地方。其净保留率和以美元计算的净扩张率正在下滑，但仍轻松超过100%。Fastly正在让客户满意，市场没有理由认为这只是五个月前公司的一半多一点。</blockquote></p><p><b>2. fuboTV</b></p><p><blockquote><b>2.fuboTV</b></blockquote></p><p>We're cutting the cord, and live-TV streaming services are there to fill the void that the leading streaming services can't provide when it comes to live network programming. No one is growing faster than fuboTV in this niche, and it's stepping on the accelerator. Pro forma revenue rose 71% in the third quarter, 98% in the fourth quarter, and fuboTV's guidance calls for growth of 98% to 102% for the current quarter.</p><p><blockquote>我们正在切断联系，直播电视流媒体服务将填补领先流媒体服务在直播网络节目方面无法提供的空白。在这个利基市场，没有人比fuboTV增长得更快，而且它正在踩油门。预计第三季度收入增长71%，第四季度增长98%，fuboTV的指导评级为本季度增长98%至102%。</blockquote></p><p>There are just545,000 subscribersright now, but they're a loyal and engaged lot of sports fans. Average revenue per user is up to $69.19 a month -- up 17% over the past year -- and that includes an industry-leading $8.47 a month in ad revenue. Why is this stock trading 49% below its December all-time high?</p><p><blockquote>目前只有545,000名订阅者，但他们是忠实且积极参与的体育迷。每个用户的平均收入高达每月69.19美元，比过去一年增长17%，其中包括行业领先的每月8.47美元的广告收入。为什么该股的交易价格比12月份的历史高点低49%？</blockquote></p><p>This isn't the only game to watch here. A pair of recent acquisitions will lead to a fantasy sports platform for members this summer and a more ambitious online sportsbook offering by the end of the year. If you think fuboTV's painting too rosy an outlook for 2021, keep in mind that it boosted its 2020 year-end guidance three times and it still found a way to come out on top.</p><p><blockquote>这不是这里唯一可以看的比赛。最近的两项收购将在今年夏天为会员带来一个梦幻体育平台，并在今年年底推出一个更雄心勃勃的在线体育博彩产品。如果您认为fuboTV对2021年的前景过于乐观，请记住，它三次上调了2020年年终指引，但仍然找到了脱颖而出的方法。</blockquote></p><p><b>3. Palantir</b></p><p><blockquote><b>3.Palantir</b></blockquote></p><p>Palantir and Fastly may initially seem to have been separated at birth. Both companies grew revenue by 40% in their latest quarter, off from a pace in the mid-40% range for all of 2020 (up 45% for Fastly versus 47% for Palantir). Both stocks were slammed on uninspiring guidance. Palantir istargeting 30% growthfor 2021, roughly the midpoint of Fastly's outlook. Wall Street can be a rough crowd when 30%-ish growth brings out the boo birds.</p><p><blockquote>Palantir和Fastly最初似乎在出生时就分开了。两家公司最近一个季度的收入增长了40%，低于2020年全年40%左右的增长率（Fastly增长45%，Palantir增长47%）。这两只股票都因指引平淡而遭受重创。Palantir的目标是2021年增长30%，大致是Fastly前景的中点。当30%左右的增长率引起嘘声时，华尔街可能会成为一群粗暴的人。</blockquote></p><p>Palantir's business model is naturally completely different than Fastly's. It's more ticktock than TikTok. Palantir's speciality is big-data business intelligence. It arms enterprises with actionable analysis from the data it collets. For better or worse more than half of Palantir's business comes from government contracts. It didn't generate a lot of buzz through its first few weeks of trading after last year'sIPO, but it certainly made up for lost time until peaking two months ago. It's been a 44% tumble from January's high. Palantir's valuation may have been overextended earlier this year, but this quality stock has gone from overbought to oversold in a hurry.</p><p><blockquote>Palantir的商业模式自然与Fastly完全不同。它比抖音更抖音。Palantir的专长是大数据商业智能。它从收集的数据中为企业提供可操作的分析。无论好坏，Palantir一半以上的业务来自政府合同。在去年IPO后的头几周交易中，它并没有引起太大的轰动，但它确实弥补了两个月前达到顶峰之前失去的时间。较1月份的高点下跌了44%。Palantir的估值在今年早些时候可能被高估了，但这只优质股票很快就从超买变成了超卖。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nasdaq.com/articles/why-wait-for-a-crash-to-buy-these-3-top-stocks-are-already-down-more-than-40-2021-03-18\">nasdaq</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":{"FSLY":"Fastly, Inc.","PLTR":"Palantir Technologies Inc.","FUBO":"fuboTV Inc."},"source_url":"https://www.nasdaq.com/articles/why-wait-for-a-crash-to-buy-these-3-top-stocks-are-already-down-more-than-40-2021-03-18","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163358852","content_text":"Investors love to be opportunistic. You can be sure the next time the market has a significant correction -- or even an inevitable crash -- that battle-tested investors won't flinch at taking advantage of lower prices. What if I told you that a lot of promising growth stocks havealreadycrashed?Shares ofFastly(NYSE: FSLY),fuboTV(NYSE: FUBO), andPalantir Technologies(NYSE: PLTR)have all fallen at least 40% from their 52-week highs. These aren't perfect stocks, but they're definitely not broken. Let's see why I think these are three investments are ripe for the picking in today's market climate.1. FastlyThis next-gen content delivery network was rocking until the clock ran out on TikTok last year. Caught on the losing end of a trade war dispute between the U.S. and China late last year, Fastlylost a top accountthat was generating more than 10% of its revenue through the first nine months of last year -- and growing quickly, to boot.There is life after TikTok, even if Fastly stock has shed nearly 45% of its value since topping out in October. Growth will slow from last year's 45% burst, but Fastly's guidance calls for decent 29% to 32% top-line growth in 2021. A recent acquisition is helping pad revenue gains, and Fastly's deficit will widen as it invests in new growth initiatives. This is far from a perfect company right now, but there's a lot to like here. Its net retention rate and dollar-based net expansion rate are slipping, but still comfortably over 100%. Fastly is keeping its customers happy, and there's no reason why the market believes that this is a little more than half the company it was five months ago.2. fuboTVWe're cutting the cord, and live-TV streaming services are there to fill the void that the leading streaming services can't provide when it comes to live network programming. No one is growing faster than fuboTV in this niche, and it's stepping on the accelerator. Pro forma revenue rose 71% in the third quarter, 98% in the fourth quarter, and fuboTV's guidance calls for growth of 98% to 102% for the current quarter.There are just545,000 subscribersright now, but they're a loyal and engaged lot of sports fans. Average revenue per user is up to $69.19 a month -- up 17% over the past year -- and that includes an industry-leading $8.47 a month in ad revenue. Why is this stock trading 49% below its December all-time high?This isn't the only game to watch here. A pair of recent acquisitions will lead to a fantasy sports platform for members this summer and a more ambitious online sportsbook offering by the end of the year. If you think fuboTV's painting too rosy an outlook for 2021, keep in mind that it boosted its 2020 year-end guidance three times and it still found a way to come out on top.3. PalantirPalantir and Fastly may initially seem to have been separated at birth. Both companies grew revenue by 40% in their latest quarter, off from a pace in the mid-40% range for all of 2020 (up 45% for Fastly versus 47% for Palantir). Both stocks were slammed on uninspiring guidance. Palantir istargeting 30% growthfor 2021, roughly the midpoint of Fastly's outlook. Wall Street can be a rough crowd when 30%-ish growth brings out the boo birds.Palantir's business model is naturally completely different than Fastly's. It's more ticktock than TikTok. Palantir's speciality is big-data business intelligence. It arms enterprises with actionable analysis from the data it collets. For better or worse more than half of Palantir's business comes from government contracts. It didn't generate a lot of buzz through its first few weeks of trading after last year'sIPO, but it certainly made up for lost time until peaking two months ago. It's been a 44% tumble from January's high. Palantir's valuation may have been overextended earlier this year, but this quality stock has gone from overbought to oversold in a hurry.","news_type":1,"symbols_score_info":{"PLTR":0.9,"FUBO":0.9,"FSLY":0.9}},"isVote":1,"tweetType":1,"viewCount":501,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":326843262,"gmtCreate":1615619437356,"gmtModify":1703491692092,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Like&amp; share &amp; comment pls","listText":"Like&amp; share &amp; comment pls","text":"Like& share & comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/326843262","repostId":"1114441743","repostType":4,"isVote":1,"tweetType":1,"viewCount":457,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":326849344,"gmtCreate":1615619241788,"gmtModify":1703491690721,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/326849344","repostId":"2118630979","repostType":4,"isVote":1,"tweetType":1,"viewCount":479,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321938206,"gmtCreate":1615388256305,"gmtModify":1703488348095,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Hahaha","listText":"Hahaha","text":"Hahaha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/321938206","repostId":"1151999522","repostType":4,"isVote":1,"tweetType":1,"viewCount":435,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320628311,"gmtCreate":1615096256733,"gmtModify":1703484708623,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Omg!!! Help me like and comment&nbsp;","listText":"Omg!!! Help me like and comment&nbsp;","text":"Omg!!! Help me like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/320628311","repostId":"1196034072","repostType":4,"repost":{"id":"1196034072","kind":"news","pubTimestamp":1614953178,"share":"https://www.laohu8.com/m/news/1196034072?lang=zh_CN&edition=full","pubTime":"2021-03-05 22:06","market":"us","language":"en","title":"Is The Nio Sell-Off Overdone?<blockquote>蔚来抛售是否过度？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1196034072","media":"Benzinga","summary":"NIO Inc.  shares have been soundly thrashed in the tech sell-off, and thequarterlyreport released ea","content":"<p><div> NIO Inc.  shares have been soundly thrashed in the tech sell-off, and thequarterlyreport released earlier this week did little to assuage sentiment. The stock is now in bear market territory, having ...</p><p><blockquote><div>蔚来股价在科技股抛售中遭受重创，本周早些时候发布的季度报告并没有缓解市场情绪。该股目前处于熊市区域，...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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 Nio Sell-Off Overdone?<blockquote>蔚来抛售是否过度？</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 Nio Sell-Off Overdone?<blockquote>蔚来抛售是否过度？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-03-05 22:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> NIO Inc.  shares have been soundly thrashed in the tech sell-off, and thequarterlyreport released earlier this week did little to assuage sentiment. The stock is now in bear market territory, having ...</p><p><blockquote><div>蔚来股价在科技股抛售中遭受重创，本周早些时候发布的季度报告并没有缓解市场情绪。该股目前处于熊市区域，...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">Benzinga</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":{"NIO":"蔚来"},"source_url":"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196034072","content_text":"NIO Inc.  shares have been soundly thrashed in the tech sell-off, and thequarterlyreport released earlier this week did little to assuage sentiment. The stock is now in bear market territory, having pulled back 35.7 % from the Feb. 10 high of $64.60.Is the sell-off in the shares justified? Did fundamentals flash the red light to investors, who were thronging to the stock in droves ahead of the current downturn?The 2020 Highs: The COVID-19 pandemic, which broke out at the end of 2019 and ravaged the global economies for much of 2020, proved a blessing for some companies that benefited from the adversity.Nio, a luxury EV maker, should have taken a big hit in the year, as cash-strapped users preferred to hold back on big-ticket buys. The company did have its momentum of despair in the first two months of 2020. Not bogged down by the adverse geopolitical milieu, the EV startup chose to be proactive instead. The company announced several innovative product andservice offerings.Deliveries continued to climb through the year, with Nio's charismatic CEO William Bin attributing the strength to the growing recognition of its premium brand, the competitive and compelling products and services, the expanding sales network, and most importantly, the support from its passionate and loyal user community.For 2020, Nio delivered 43,728 vehicles, an increase of 111% year-over-year.The company also managed to rein in costs, giving margins a lift. It also succeeded in mobilizing finances through a combination of equity, debt and strategic investments, removing a key existential risk it faced in 2019.Promptly the stock began discounting the fundamental improvement and closed out 2020 with a gain in excess of 1,100%. The strong rally stretched valuation to levels, with some skeptics beginning to question the irrational exuberance in the stock.Fundamentals, Stock Pause At Start of 2021: Nio had a strong start to the year, as it continued to clock record monthly deliveries in January. The stock raced to a record high of $66.99 on Jan. 11, as it reacted to the announcements the company made at the annual Nio Day held on Jan. 10.Thereafter, it has been a bumpy ride for the stock. Since the start of February, the stock has been caught in the vortex of the tech sell-off. Incidentally, market leader and EV pioneerTesla, Inc.TSLAwas not spared either. Since the all-time split-adjusted high of $900.40 hit in late January, Tesla shares have given back over 30%.Nio investors were pinning their hopes on a stellar fourth-quarter report to lift the stock from the depressed levels. It was not to be. The stock continued to bleed despite the EV maker reporting $1 billion revenues for the quarter and seeing an expansion in gross margins.Naysayers were quick to highlight the wider-than-expected loss and the month-over-month drop in deliveries.As outlined by Deutsche Bank Securities analyst Edison Yu, the underperformance on the bottom line had to do with forex losses, engendered by a weaker dollar.Although initially Nio did not explain away the February softness, it later clarified in a blog post the weeklong Lunar New Year holiday that fell in the month played spoilsport.\"The majority of the employees receive seven days off work as a public holiday to spend time with their families, though the celebrations can last for more than two weeks nationwide. Most of the factories were shut down for weeks, and many products that rely on shipping and manufacturing might have been delayed,\" Nio said in the post.Is Recovery In The Cards: The company has several catalysts ahead, including the launch of its first sedan, named ET7, and its plan to expand into Europe this year. The company is also making solid progress with respect to its advanced driver-assisted system, battery technology and battery swapping stations.With the increasing uptake of its battery-as-a-service offering and its recently announced autonomous driving-as-a-service, the company has laid the groundwork for recurrent revenue streams.This apart, the attractive market opportunity presented by the burgeoning EV market, both domestically and globally, will prove salubrious for the company. There is no denying the fact that EV manufacturing is turning out to be a crowded field. However, early entrants such as Nio are at an advantage, given their experiences in grinding it out in the early stages.Patient investors, who are willing to ride out the trying times, could be in for rich rewards when things settle down.Nio shares closed down 5.5% at $39.28, with the stock dropping below the $40 handle for the first time since mid-December.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":316,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":841680222,"gmtCreate":1635906575211,"gmtModify":1635907107754,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/KUO.SI\">$INTERNATIONAL CEMENT GROUPLTD.(KUO.SI)$</a>Looks like it gonna tank? No?","listText":"<a href=\"https://laohu8.com/S/KUO.SI\">$INTERNATIONAL CEMENT GROUPLTD.(KUO.SI)$</a>Looks like it gonna tank? No?","text":"$INTERNATIONAL CEMENT GROUPLTD.(KUO.SI)$Looks like it gonna tank? No?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":10,"repostSize":0,"link":"https://laohu8.com/post/841680222","isVote":1,"tweetType":1,"viewCount":2426,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":365826505,"gmtCreate":1614729065607,"gmtModify":1703480336317,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Comment and like pls","listText":"Comment and like pls","text":"Comment and like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/365826505","repostId":"2116999592","repostType":4,"repost":{"id":"2116999592","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1614697749,"share":"https://www.laohu8.com/m/news/2116999592?lang=zh_CN&edition=full","pubTime":"2021-03-02 23:09","market":"hk","language":"en","title":"A Look Into Technology Sector Value Stocks<blockquote>科技行业价值股透视</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2116999592","media":"Benzinga","summary":"The Meaning Behind Value Stocks\n\nA value stock is traditionally defined in terms of how investors in the marketplace are valuing that company&#39;s future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock.","content":"<p><b>The Meaning Behind Value Stocks</b></p><p><blockquote><b>价值股背后的含义</b></blockquote></p><p>A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock.</p><p><blockquote>价值股票传统上是根据市场投资者如何评估该公司未来增长前景来定义的。低市盈率是表明公司被低估的良好基础指标，很可能被贴上价值股的标签。</blockquote></p><p><b>Below is a list of notable value stocks in the technology sector:</b></p><p><blockquote><b>以下是科技行业值得注意的价值股列表：</b></blockquote></p><p><ol><li><b>China Index Holdings</b> (NASDAQ:CIH) - P/E: 4.82</li><li><b>Nortech Systems</b> (NASDAQ:NSYS) - P/E: 8.96</li><li><b>Synnex</b> (NYSE:SNX) - P/E: 9.26</li><li><b><a href=\"https://laohu8.com/S/INPX\">Inpixon</a></b> (NASDAQ:INPX) - P/E: 0.08</li><li><b>Hamilton Beach Brands</b> (NYSE:HBB) - P/E: 8.75</li></ol>Most recently, China Index Holdings reported earnings per share at 0.12, whereas in Q2 earnings per share sat at 0.1. China Index Holdings does not have a dividend yield, which investors should be aware of when considering holding onto such a stock.</p><p><blockquote><ol><li><b>中国指数控股</b>（纳斯达克：CIH）-市盈率：4.82</li><li><b>诺泰克系统公司</b>（纳斯达克：NSYS）-市盈率：8.96</li><li><b>Synnex</b>（纽约证券交易所代码：SNX）-市盈率：9.26</li><li><b><a href=\"https://laohu8.com/S/INPX\">Inpixon</a></b>（纳斯达克：INPX）-市盈率：0.08</li><li><b>汉密尔顿海滩品牌</b>（纽约证券交易所代码：HBB）-市盈率：8.75</li></ol>最近，中指控股公布的每股收益为0.12，而第二季度每股收益为0.1。中指控股没有股息收益率，投资者在考虑持有此类股票时应注意这一点。</blockquote></p><p>Nortech Systems saw a decrease in earnings per share from -0.05 in Q2 to -0.35 now. Nortech Systems does not have a dividend yield, which investors should be aware of when considering holding onto such a stock.</p><p><blockquote>Nortech Systems的每股收益从第二季度的-0.05下降到现在的-0.35。Nortech Systems没有股息收益率，投资者在考虑持有此类股票时应注意这一点。</blockquote></p><p>Most recently, Synnex reported earnings per share at 5.21, whereas in Q3 earnings per share sat at 3.33. The company's most recent dividend yield sits at 0.92%, which has decreased by 0.34% from 1.26% last quarter.</p><p><blockquote>联强最近公布的每股收益为5.21，而第三季度每股收益为3.33。该公司最新股息率为0.92%，较上季度的1.26%下降0.34%。</blockquote></p><p>Most recently, Inpixon reported earnings per share at -0.13, whereas in Q2 earnings per share sat at -0.21. Inpixon does not have a dividend yield, which investors should be aware of when considering holding onto such a stock.</p><p><blockquote>最近，Inpixon公布的每股收益为-0.13，而第二季度每股收益为-0.21。Inpixon没有股息收益率，投资者在考虑持有此类股票时应注意这一点。</blockquote></p><p>Hamilton Beach Brands's earnings per share for Q3 sits at -0.15, whereas in Q2, they were at 0.59. Most recently, the company reported a dividend yield of 2.13%, which has increased by 0.18% from last quarter's yield of 1.95%.</p><p><blockquote>Hamilton Beach Brands第三季度每股收益为-0.15，而第二季度为0.59。最近，该公司公布的股息收益率为2.13%，较上季度的1.95%上升了0.18%。</blockquote></p><p><b>The Significance:</b> A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.</p><p><blockquote><b>意义：</b>价值股可能需要一些时间才能从被低估的位置反弹。投资价值股的风险在于，这种出现可能永远不会实现。</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>A Look Into Technology Sector Value Stocks<blockquote>科技行业价值股透视</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\">\nA Look Into Technology Sector Value Stocks<blockquote>科技行业价值股透视</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-03-02 23:09</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>The Meaning Behind Value Stocks</b></p><p><blockquote><b>价值股背后的含义</b></blockquote></p><p>A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock.</p><p><blockquote>价值股票传统上是根据市场投资者如何评估该公司未来增长前景来定义的。低市盈率是表明公司被低估的良好基础指标，很可能被贴上价值股的标签。</blockquote></p><p><b>Below is a list of notable value stocks in the technology sector:</b></p><p><blockquote><b>以下是科技行业值得注意的价值股列表：</b></blockquote></p><p><ol><li><b>China Index Holdings</b> (NASDAQ:CIH) - P/E: 4.82</li><li><b>Nortech Systems</b> (NASDAQ:NSYS) - P/E: 8.96</li><li><b>Synnex</b> (NYSE:SNX) - P/E: 9.26</li><li><b><a href=\"https://laohu8.com/S/INPX\">Inpixon</a></b> (NASDAQ:INPX) - P/E: 0.08</li><li><b>Hamilton Beach Brands</b> (NYSE:HBB) - P/E: 8.75</li></ol>Most recently, China Index Holdings reported earnings per share at 0.12, whereas in Q2 earnings per share sat at 0.1. China Index Holdings does not have a dividend yield, which investors should be aware of when considering holding onto such a stock.</p><p><blockquote><ol><li><b>中国指数控股</b>（纳斯达克：CIH）-市盈率：4.82</li><li><b>诺泰克系统公司</b>（纳斯达克：NSYS）-市盈率：8.96</li><li><b>Synnex</b>（纽约证券交易所代码：SNX）-市盈率：9.26</li><li><b><a href=\"https://laohu8.com/S/INPX\">Inpixon</a></b>（纳斯达克：INPX）-市盈率：0.08</li><li><b>汉密尔顿海滩品牌</b>（纽约证券交易所代码：HBB）-市盈率：8.75</li></ol>最近，中指控股公布的每股收益为0.12，而第二季度每股收益为0.1。中指控股没有股息收益率，投资者在考虑持有此类股票时应注意这一点。</blockquote></p><p>Nortech Systems saw a decrease in earnings per share from -0.05 in Q2 to -0.35 now. Nortech Systems does not have a dividend yield, which investors should be aware of when considering holding onto such a stock.</p><p><blockquote>Nortech Systems的每股收益从第二季度的-0.05下降到现在的-0.35。Nortech Systems没有股息收益率，投资者在考虑持有此类股票时应注意这一点。</blockquote></p><p>Most recently, Synnex reported earnings per share at 5.21, whereas in Q3 earnings per share sat at 3.33. The company's most recent dividend yield sits at 0.92%, which has decreased by 0.34% from 1.26% last quarter.</p><p><blockquote>联强最近公布的每股收益为5.21，而第三季度每股收益为3.33。该公司最新股息率为0.92%，较上季度的1.26%下降0.34%。</blockquote></p><p>Most recently, Inpixon reported earnings per share at -0.13, whereas in Q2 earnings per share sat at -0.21. Inpixon does not have a dividend yield, which investors should be aware of when considering holding onto such a stock.</p><p><blockquote>最近，Inpixon公布的每股收益为-0.13，而第二季度每股收益为-0.21。Inpixon没有股息收益率，投资者在考虑持有此类股票时应注意这一点。</blockquote></p><p>Hamilton Beach Brands's earnings per share for Q3 sits at -0.15, whereas in Q2, they were at 0.59. Most recently, the company reported a dividend yield of 2.13%, which has increased by 0.18% from last quarter's yield of 1.95%.</p><p><blockquote>Hamilton Beach Brands第三季度每股收益为-0.15，而第二季度为0.59。最近，该公司公布的股息收益率为2.13%，较上季度的1.95%上升了0.18%。</blockquote></p><p><b>The Significance:</b> A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.</p><p><blockquote><b>意义：</b>价值股可能需要一些时间才能从被低估的位置反弹。投资价值股的风险在于，这种出现可能永远不会实现。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HBB":"Hamilton Beach Brands Holding Company","NSYS":"Nortech Systems Incorporated","SNX":"新聚思"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2116999592","content_text":"The Meaning Behind Value StocksA value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock.Below is a list of notable value stocks in the technology sector:China Index Holdings (NASDAQ:CIH) - P/E: 4.82Nortech Systems (NASDAQ:NSYS) - P/E: 8.96Synnex (NYSE:SNX) - P/E: 9.26Inpixon (NASDAQ:INPX) - P/E: 0.08Hamilton Beach Brands (NYSE:HBB) - P/E: 8.75Most recently, China Index Holdings reported earnings per share at 0.12, whereas in Q2 earnings per share sat at 0.1. China Index Holdings does not have a dividend yield, which investors should be aware of when considering holding onto such a stock.Nortech Systems saw a decrease in earnings per share from -0.05 in Q2 to -0.35 now. Nortech Systems does not have a dividend yield, which investors should be aware of when considering holding onto such a stock.Most recently, Synnex reported earnings per share at 5.21, whereas in Q3 earnings per share sat at 3.33. The company's most recent dividend yield sits at 0.92%, which has decreased by 0.34% from 1.26% last quarter.Most recently, Inpixon reported earnings per share at -0.13, whereas in Q2 earnings per share sat at -0.21. Inpixon does not have a dividend yield, which investors should be aware of when considering holding onto such a stock.Hamilton Beach Brands's earnings per share for Q3 sits at -0.15, whereas in Q2, they were at 0.59. Most recently, the company reported a dividend yield of 2.13%, which has increased by 0.18% from last quarter's yield of 1.95%.The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.","news_type":1,"symbols_score_info":{"HBB":0.9,"CIH":0.9,"NSYS":0.9,"SNX":0.9,"INPX":0.9}},"isVote":1,"tweetType":1,"viewCount":446,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350676577,"gmtCreate":1616206350699,"gmtModify":1634526738548,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Like and share like and share","listText":"Like and share like and share","text":"Like and share like and share","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/350676577","repostId":"1199154789","repostType":4,"repost":{"id":"1199154789","kind":"news","pubTimestamp":1616164372,"share":"https://www.laohu8.com/m/news/1199154789?lang=zh_CN&edition=full","pubTime":"2021-03-19 22:32","market":"us","language":"en","title":"Fed Disappoints Market, Lets SLR Relief Expire: What Happens Next<blockquote>美联储令市场失望，让SLR救助到期：接下来会发生什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199154789","media":"zerohedge","summary":"As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio  exemption expire as scheduled on March 31, the one year anniversary of the rule change.The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on ","content":"<p>As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio (SLR) exemption expire as scheduled on March 31, the one year anniversary of the rule change.</p><p><blockquote>正如本文所暗示和深入讨论的那样，在伊丽莎白·沃伦(Elizabeth Warren)和谢罗德·布朗(Sherrod Brown)等进步民主党人的政治压力下，美联储决定让临时补充杠杆率(SLR)豁免如期于3月31日（规则变更一周年）到期。</blockquote></p><p>The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on March 31, 2021.The temporary change was made to provide flexibility for depository institutions to provide credit to households and businesses in light of the COVID-19 event.<img src=\"https://static.tigerbbs.com/b822960da59d651f093b5113cd0c3fd0\" tg-width=\"500\" tg-height=\"319\" referrerpolicy=\"no-referrer\">This outcome is theone (again) correctly predictedby former NY Fed guru Zoltan Pozsar who following the FOMC said that \"the fact that the Fed made this adjustment practically preemptively – the o/n RRP facility is not being used at the moment, so there are no capacity constraints yet, while repo and bill yields aren’t trading negative yet –<b>suggests that the Fed is “foaming the runway” for the end of SLR exemption</b>.\"</p><p><blockquote>联邦银行监管机构今天宣布，2020年5月15日发布的存款机构补充杠杆率（SLR）的临时变更将于2021年3月31日如期到期。鉴于新冠肺炎事件，这一临时变化是为了为存款机构向家庭和企业提供信贷提供灵活性。这一结果是前纽约联储大师Zoltan Pozsar（再次）正确预测的结果，他跟随FOMC表示，“事实上，美联储实际上是先发制人地做出了这一调整——目前没有使用o/n RRP工具，因此没有能力限制，而回购和票据收益率尚未为负——<b>暗示美联储正在为SLR豁免的结束“铺路”</b>.\"</blockquote></p><p>Knowing well this would be a very hot button issue for the market, the Fed published thefollowing statementto ease trader nerves, noting that while the SLR special treatment will expire on March 31, the Fed is \"inviting public comment on several potential SLR modifications\" and furthermore, \"<b>Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability</b>\" - in short, if yields spike, the Fed will re-introduce the SLR without delay:</p><p><blockquote>美联储深知这将是市场的一个非常热门的问题，因此发表了以下声明以缓解交易员的紧张情绪，并指出，虽然SLR特殊待遇将于3月31日到期，但美联储正在“邀请公众就几项潜在的SLR修改发表评论”。此外，”<b>随着时间的推移，董事会可能需要解决SLR当前的设计和校准问题，以防止出现既限制经济增长又破坏金融稳定的压力</b>”——简而言之，如果收益率飙升，美联储将立即重新引入SLR：</blockquote></p><p>The Federal Reserve Board on Friday announced that the temporary change to its supplementary leverage ratio, or SLR, for bank holding companies will expire as scheduled on March 31. <b>Additionally, the Board will shortly seek comment on measures to adjust the SLR. The Board will take appropriate actions to assure that any changes to the SLR do not erode the overall strength of bank capital requirements.</b>To ease strains in the Treasury market resulting from the COVID-19 pandemic and to promote lending to households and businesses, the Board temporarily modified the SLR last year to exclude U.S. Treasury securities and central bank reserves. Since that time, the Treasury market has stabilized. <b>However, because of recent growth in the supply of central bank reserves and the issuance of Treasury securities, the Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability.To ensure that the SLR—which was established in 2014 as an additional capital requirement—remains effective in an environment of higher reserves, the Board will soon be inviting public comment on several potential SLR modifications.</b>The proposal and comments will contribute to ongoing discussions with the Department of the Treasury and other regulators on future work to ensure the resiliency of the Treasury market.The Fed's soothing wods notwithstanding,<b>having been primed for a favorable outcome, the Fed's disappointing announcement was hardly the news traders were hoping for and stocks tumbled...</b></p><p><blockquote>美联储周五宣布，银行控股公司补充杠杆率（SLR）的临时变化将于3月31日如期到期。<b>此外，董事会将很快就调整SLR的措施征求意见。董事会将采取适当行动，确保SLR的任何变化不会削弱银行资本要求的整体实力。</b>为了缓解COVID-19大流行造成的国债市场压力并促进对家庭和企业的贷款，董事会去年暂时修改了SLR，将美国国债和央行储备排除在外。从那时起，国债市场已经稳定下来。<b>然而，由于最近中央银行储备供应和国债发行的增长，理事会可能需要随着时间的推移解决SLR的当前设计和校准问题，以防止出现既限制经济增长又破坏金融稳定的压力。为了确保SLR（2014年作为额外资本要求而设立）在准备金较高的环境下保持有效，董事会将很快就几项潜在的SLR修改征求公众意见。</b>该提案和评论将有助于与财政部和其他监管机构就未来工作进行持续讨论，以确保国债市场的弹性。尽管美联储的WOD令人宽慰，<b>在为有利的结果做好准备后，美联储令人失望的声明几乎不是交易员所希望的消息，股市暴跌...</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/c341c3843a5031cd1599c2c89e198050\" tg-width=\"500\" tg-height=\"305\" referrerpolicy=\"no-referrer\">Bond yields spiked...</p><p><blockquote>债券收益率飙升...</blockquote></p><p><img src=\"https://static.tigerbbs.com/14173c1ce587fb45efe4c30ecc1dfbab\" tg-width=\"500\" tg-height=\"284\" referrerpolicy=\"no-referrer\">... while the stock of JPM, which is the most exposed bank to SLR relief (as noted yesterday in \"Facing Up To JP Morgan's Leverage Relief Threats\")...</p><p><blockquote>...而摩根大通的股票是受SLR救济影响最大的银行（正如昨天在“面对摩根大通的杠杆救济威胁”中所指出的）...</blockquote></p><p><img src=\"https://static.tigerbbs.com/32811183fba3dbddf1c440836298c7f3\" tg-width=\"500\" tg-height=\"602\" referrerpolicy=\"no-referrer\">.... slumped.</p><p><blockquote>....萎靡不振。</blockquote></p><p><img src=\"https://static.tigerbbs.com/2fba41463f15e79d2b8436cdd6a526fc\" tg-width=\"500\" tg-height=\"306\" referrerpolicy=\"no-referrer\">In case you've been living under a rock, here's why you should care about the SLR decision: First, for those whomissed our primer on the issue, some background from JPM (ironically the one bank that has the most to lose from the Fed's decision) the bottom line is that without SLR relief,<b>banks may have to delever, raise new capital, halt buybacks, sell preferred stock, turn down deposits and generally push back on reserves (not necessarily all of these, and not in that order) just as the Fed is injecting hundreds of billions of reserves into the market as the Treasury depletes its TGA account.</b></p><p><blockquote>如果您一直生活在岩石下，以下是您应该关心SLR决定的原因：首先，对于那些错过了我们关于这个问题的入门知识的人来说，摩根大通的一些背景（具有讽刺意味的是，这是一家从美联储损失最大的银行）的决定）底线是，如果没有SLR救济，<b>银行可能不得不去杠杆化、筹集新资本、停止回购、出售优先股、拒绝存款并普遍减少准备金（不一定是所有这些，也不是按这个顺序），就像美联储向市场注入数千亿美元一样随着财政部耗尽其TGA账户。</b></blockquote></p><p></p><p>The massive expansion of the Fed’s balance that has occurred implied an equally massive growth in bank reserves held at Federal Reserve banks. <b>The expiration of the regulatory relief would add ~$2.1tn of leverage exposure across the 8 GSIBs. As well, TGA reduction and continued QE could add another ~$2.35tn of deposits to the system during 2021.</b><img src=\"https://static.tigerbbs.com/392342c2f3e1dd008b2276172a9b3ecf\" tg-width=\"500\" tg-height=\"253\" referrerpolicy=\"no-referrer\">While the expiry of the carve-out on March 31 would not have an immediate impact on GSIBs, the continued increase in leverage assets throughout the course of the year would increase long-term debt (LTD) and preferred requirements. Here, JPM takes an optimistic view and writes that<b>\"even the “worst” case issuance scenario as very manageable, with LTD needs of $35bn for TLAC requirements and preferred needs of $15-$20bn to maintain the industry-wide SLR at 5.6%.</b></p><p><blockquote>美联储资产负债表的大幅扩张意味着美联储银行持有的银行准备金也同样大幅增长。<b>监管救济到期将使8个GSIB的杠杆敞口增加约2.1万亿美元。此外，TGA的减少和持续的量化宽松可能会在2021年为系统再增加约2.35万亿美元的存款。</b>虽然3月31日豁免到期不会对GSIB产生直接影响，但全年杠杆资产的持续增加将增加长期债务(LTD)和优先要求。在这里，摩根大通持乐观观点，并写道<b>“即使是‘最坏’的发行情况也是非常可控的，LTD需要350亿美元来满足TLAC要求，优先需求为150-200亿美元，以将全行业SLR维持在5.6%。</b></blockquote></p><p>The constraint is greater at the bank entity, where the capacity to grow leverage exposure to be ~$765bn at 6.2% SLR.\"Goldman's take was more troubling: the bank estimated that under the continued QE regime, there would be a shortfall of some $2 trillion in reserve capacity, mainly in the form of deposits which the banks would be unable to accept as part of ongoing QE (much more in Goldman'sfull take of the SLR quandary).</p><p><blockquote>银行实体的限制更大，其杠杆敞口增加的能力约为7,650亿美元，SLR为6.2%。”高盛的观点更令人不安：该行估计，在持续的量化宽松制度下，储备能力将出现约2万亿美元的缺口，主要是银行无法接受的存款形式，作为正在进行的量化宽松的一部分（高盛对SLR困境的全面理解更是如此）。</blockquote></p><p><b>So what happens next?</b></p><p><blockquote><b>那么接下来会发生什么呢？</b></blockquote></p><p>Addressing this topic, yesterday Curvature's Scott Skyrm wrote that \"<i>the largest banks are enjoying much larger balance sheets, but there are political factors in Washington that are against an extension of the exemption.... Here are a couple of scenarios and their implications on the Repo market</i>:</p><p><blockquote>针对这个话题，昨天Curvature的Scott Skyrm写道“<i>最大的银行享有更大的资产负债表，但华盛顿有政治因素反对延长豁免....以下是几种情况及其对回购市场的影响</i>：</blockquote></p><p>The exemption is extended 3 months or 6 months - No impact on the Repo market. It's already fully priced-in.The exemption is continued for reserves, but ended for Treasurys. <b>Since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise. Volatility increases as Repo assets move from the largest banks to the other Repo market participants.The exemption is ended for both reserves and Treasurys. Same as above.</b>In other words, Skyrm has a relatively downbeat view, warning that \"since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise.\" Additionally, volatility is likely to increase as repo assets move from the largest banks to the other Repo market participants...</p><p><blockquote>豁免延长3个月或6个月——对回购市场没有影响。它已经完全定价了。准备金的豁免继续，但国债的豁免结束。<b>由于大型银行是回购市场上最大的现金提供者，因此进入市场的现金减少，回购利率上升。随着回购资产从最大的银行转移到其他回购市场参与者，波动性会增加。储备和国库的豁免均终止。同上。</b>换句话说，Skyrm持相对悲观的观点，警告称“由于大型银行是回购市场上最大的现金提供者，因此进入市场的现金减少，回购利率上升。”此外，随着回购资产从最大的银行转移到其他回购市场参与者，波动性可能会增加...</blockquote></p><p>Perhaps a bit too draconian? Well, last week, JPMorgan laid out 5 scenarios for SLR, of which two predicted the end of SLR relief on March 31, as follow:</p><p><blockquote>也许有点太严厉了？上周，摩根大通为SLR制定了5种情景，其中两种预测SLR救济将于3月31日结束，具体如下：</blockquote></p><p><u><b>3. Relief ends March 31, banks fully raise capital</b></u> <b>Impact on BanksRatesFront-End Rates</b> <u><b>4. Relief ends March 31, banks raise capital &amp; de-lever</b></u> <b>Impact on BanksRatesFront-End Rates</b>Going back to Zoltan, let's recallthat the repo gurualso cautioned that \"ending the exemption of reserves and Treasuries from the calculation of the SLR may mean that U.S. banks will turn away deposits and reserves on the margin (not Treasuries) to leave more room for market-making activities,<b>and these flows will swell further money funds’ inflows coming from TGA drawdowns.</b>\"</p><p><blockquote><u><b>3.纾困3月31日结束银行全面融资</b></u><b>对银行利率的影响前端利率</b><u><b>4.纾困3月31日结束，银行增资去杠杆</b></u><b>对银行利率的影响前端利率</b>回到Zoltan，让我们回想一下，这位回购大师还警告说，“结束准备金和国债在SLR计算中的豁免可能意味着美国银行将拒绝保证金（而不是国债）的存款和准备金，为市场留出更多空间。做市活动，<b>这些资金流动将进一步增加来自TGA提款的货币基金流入。</b>\"</blockquote></p><p>More importantly, Zoltan does not expect broad chaos in repo or broader markets, and instead provides a more benign view on the negligible impact the SLR has had (and will be if it is eliminated), as he explained in a note from Tuesday.</p><p><blockquote>更重要的是，Zoltan预计回购或更广泛的市场不会出现广泛的混乱，相反，正如他在周二的一份报告中解释的那样，他对SLR已经产生的微不足道的影响（如果它被消除，将会产生）提供了更良性的看法。</blockquote></p><p><img src=\"https://static.tigerbbs.com/caeeb2b1290e084832f29d61cea6a90b\" tg-width=\"500\" tg-height=\"534\" referrerpolicy=\"no-referrer\">How to determine if Zoltan's benign view is correct? He concluded his note by writing that \"given that our call for a zero-to-negative FRA-OIS spread by the end of June was predicated on the end of SLR extension and an assumption that the Fed will try to fix a quantity problem with prices, not quantities, today’s adjustments mean that FRA-OIS won’t trade all the way down to zero or negative territory.\"</p><p><blockquote>如何确定Zoltan的良性观点是否正确？他在报告的最后写道，“鉴于我们到6月底FRA-OIS利差为零至负的看涨期权是基于SLR延期的结束以及美联储将尝试解决数量问题的假设价格而不是数量，今天的调整意味着FRA-OIS不会一直跌至零或负值。”</blockquote></p><p>FRA-OIS from here will be a function of how tight FX swaps will trade relative to OIS, but Treasury bills trading at deeply sub-zero rates is no longer a risk...While Bills have occasionally dipped into the negative territory on occasion, so far they have avoided a fullblown plunge into NIRP, which may be just the positive sign the market is waiting for to ease the nerves associated with the sudden and largely unexpected end of the SLR exemption.</p><p><blockquote>这里的FRA-OIS将取决于外汇掉期相对于OIS的交易紧张程度，但以远低于零利率交易的国库券不再是一种风险...虽然账单偶尔会跌入负值，但到目前为止，它们避免了全面陷入NIRP，这可能只是市场正在等待的积极信号，以缓解与SLR豁免突然且基本上出乎意料的结束相关的紧张情绪。</blockquote></p><p>* *&nbsp; *</p><p><blockquote>** *</blockquote></p><p></p><p>Finally, for those curious what the immediate market impact will be, NatWest strategist Blake Gwinn writes that the Fed announcement that they’re letting regulatory exemptions for banks expire at the end of the month \"really threads the needle and \"assuages concerns about the potential long-term impact on the markets\" as<b>the SLR \"ends it but defuses a lot of the knee-jerk market reaction” by pledging to address the current design and calibration of the supplementary leverage ratio to prevent strains from developing</b>.</p><p><blockquote>最后，对于那些好奇对市场的直接影响会是什么的人来说，国民西敏寺银行策略师布莱克·格温(Blake Gwinn)写道，美联储宣布银行监管豁免将于本月底到期，“确实是穿针引线”，缓解了人们对银行监管豁免的担忧。对市场的潜在长期影响<b>SLR承诺解决补充杠杆率的当前设计和校准问题，以防止紧张局势的发展，从而“结束了它，但化解了许多下意识的市场反应”</b>.</blockquote></p><p>“I was never worried about a day-one bank puke of Treasuries or drawdown in repo or anything like that on no renewal,” Gwinn said. “My concern was the longer run,” like as reserves continue to rise, would the SLR “become a nuisance and drag on Treasuries and spreads” Gwinn concludes that with the statement, the Fed is<b>\"really speaking to those fears and basically saying, ‘don’t worry, we are on it’.”</b></p><p><blockquote>格温说：“我从来不担心银行第一天就会吐出国债或回购提款或类似的情况。”“我担心的是，从长远来看”，随着准备金继续上升，SLR是否会“成为一个麻烦并拖累国债和利差”格温总结道，通过这份声明，美联储<b>“真正解决这些恐惧，基本上是说，‘别担心，我们正在努力’。”</b></blockquote></p><p>Well, with yields spiking to HOD in early quad-witch trading, the market sure seems quite skeptical that the Fed is on anything.</p><p><blockquote>好吧，随着收益率在早期四女巫交易中飙升至HOD，市场似乎确实对美联储的行动持怀疑态度。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nFed Disappoints Market, Lets SLR Relief Expire: What Happens Next<blockquote>美联储令市场失望，让SLR救助到期：接下来会发生什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-03-19 22:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio (SLR) exemption expire as scheduled on March 31, the one year anniversary of the rule change.</p><p><blockquote>正如本文所暗示和深入讨论的那样，在伊丽莎白·沃伦(Elizabeth Warren)和谢罗德·布朗(Sherrod Brown)等进步民主党人的政治压力下，美联储决定让临时补充杠杆率(SLR)豁免如期于3月31日（规则变更一周年）到期。</blockquote></p><p>The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on March 31, 2021.The temporary change was made to provide flexibility for depository institutions to provide credit to households and businesses in light of the COVID-19 event.<img src=\"https://static.tigerbbs.com/b822960da59d651f093b5113cd0c3fd0\" tg-width=\"500\" tg-height=\"319\" referrerpolicy=\"no-referrer\">This outcome is theone (again) correctly predictedby former NY Fed guru Zoltan Pozsar who following the FOMC said that \"the fact that the Fed made this adjustment practically preemptively – the o/n RRP facility is not being used at the moment, so there are no capacity constraints yet, while repo and bill yields aren’t trading negative yet –<b>suggests that the Fed is “foaming the runway” for the end of SLR exemption</b>.\"</p><p><blockquote>联邦银行监管机构今天宣布，2020年5月15日发布的存款机构补充杠杆率（SLR）的临时变更将于2021年3月31日如期到期。鉴于新冠肺炎事件，这一临时变化是为了为存款机构向家庭和企业提供信贷提供灵活性。这一结果是前纽约联储大师Zoltan Pozsar（再次）正确预测的结果，他跟随FOMC表示，“事实上，美联储实际上是先发制人地做出了这一调整——目前没有使用o/n RRP工具，因此没有能力限制，而回购和票据收益率尚未为负——<b>暗示美联储正在为SLR豁免的结束“铺路”</b>.\"</blockquote></p><p>Knowing well this would be a very hot button issue for the market, the Fed published thefollowing statementto ease trader nerves, noting that while the SLR special treatment will expire on March 31, the Fed is \"inviting public comment on several potential SLR modifications\" and furthermore, \"<b>Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability</b>\" - in short, if yields spike, the Fed will re-introduce the SLR without delay:</p><p><blockquote>美联储深知这将是市场的一个非常热门的问题，因此发表了以下声明以缓解交易员的紧张情绪，并指出，虽然SLR特殊待遇将于3月31日到期，但美联储正在“邀请公众就几项潜在的SLR修改发表评论”。此外，”<b>随着时间的推移，董事会可能需要解决SLR当前的设计和校准问题，以防止出现既限制经济增长又破坏金融稳定的压力</b>”——简而言之，如果收益率飙升，美联储将立即重新引入SLR：</blockquote></p><p>The Federal Reserve Board on Friday announced that the temporary change to its supplementary leverage ratio, or SLR, for bank holding companies will expire as scheduled on March 31. <b>Additionally, the Board will shortly seek comment on measures to adjust the SLR. The Board will take appropriate actions to assure that any changes to the SLR do not erode the overall strength of bank capital requirements.</b>To ease strains in the Treasury market resulting from the COVID-19 pandemic and to promote lending to households and businesses, the Board temporarily modified the SLR last year to exclude U.S. Treasury securities and central bank reserves. Since that time, the Treasury market has stabilized. <b>However, because of recent growth in the supply of central bank reserves and the issuance of Treasury securities, the Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability.To ensure that the SLR—which was established in 2014 as an additional capital requirement—remains effective in an environment of higher reserves, the Board will soon be inviting public comment on several potential SLR modifications.</b>The proposal and comments will contribute to ongoing discussions with the Department of the Treasury and other regulators on future work to ensure the resiliency of the Treasury market.The Fed's soothing wods notwithstanding,<b>having been primed for a favorable outcome, the Fed's disappointing announcement was hardly the news traders were hoping for and stocks tumbled...</b></p><p><blockquote>美联储周五宣布，银行控股公司补充杠杆率（SLR）的临时变化将于3月31日如期到期。<b>此外，董事会将很快就调整SLR的措施征求意见。董事会将采取适当行动，确保SLR的任何变化不会削弱银行资本要求的整体实力。</b>为了缓解COVID-19大流行造成的国债市场压力并促进对家庭和企业的贷款，董事会去年暂时修改了SLR，将美国国债和央行储备排除在外。从那时起，国债市场已经稳定下来。<b>然而，由于最近中央银行储备供应和国债发行的增长，理事会可能需要随着时间的推移解决SLR的当前设计和校准问题，以防止出现既限制经济增长又破坏金融稳定的压力。为了确保SLR（2014年作为额外资本要求而设立）在准备金较高的环境下保持有效，董事会将很快就几项潜在的SLR修改征求公众意见。</b>该提案和评论将有助于与财政部和其他监管机构就未来工作进行持续讨论，以确保国债市场的弹性。尽管美联储的WOD令人宽慰，<b>在为有利的结果做好准备后，美联储令人失望的声明几乎不是交易员所希望的消息，股市暴跌...</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/c341c3843a5031cd1599c2c89e198050\" tg-width=\"500\" tg-height=\"305\" referrerpolicy=\"no-referrer\">Bond yields spiked...</p><p><blockquote>债券收益率飙升...</blockquote></p><p><img src=\"https://static.tigerbbs.com/14173c1ce587fb45efe4c30ecc1dfbab\" tg-width=\"500\" tg-height=\"284\" referrerpolicy=\"no-referrer\">... while the stock of JPM, which is the most exposed bank to SLR relief (as noted yesterday in \"Facing Up To JP Morgan's Leverage Relief Threats\")...</p><p><blockquote>...而摩根大通的股票是受SLR救济影响最大的银行（正如昨天在“面对摩根大通的杠杆救济威胁”中所指出的）...</blockquote></p><p><img src=\"https://static.tigerbbs.com/32811183fba3dbddf1c440836298c7f3\" tg-width=\"500\" tg-height=\"602\" referrerpolicy=\"no-referrer\">.... slumped.</p><p><blockquote>....萎靡不振。</blockquote></p><p><img src=\"https://static.tigerbbs.com/2fba41463f15e79d2b8436cdd6a526fc\" tg-width=\"500\" tg-height=\"306\" referrerpolicy=\"no-referrer\">In case you've been living under a rock, here's why you should care about the SLR decision: First, for those whomissed our primer on the issue, some background from JPM (ironically the one bank that has the most to lose from the Fed's decision) the bottom line is that without SLR relief,<b>banks may have to delever, raise new capital, halt buybacks, sell preferred stock, turn down deposits and generally push back on reserves (not necessarily all of these, and not in that order) just as the Fed is injecting hundreds of billions of reserves into the market as the Treasury depletes its TGA account.</b></p><p><blockquote>如果您一直生活在岩石下，以下是您应该关心SLR决定的原因：首先，对于那些错过了我们关于这个问题的入门知识的人来说，摩根大通的一些背景（具有讽刺意味的是，这是一家从美联储损失最大的银行）的决定）底线是，如果没有SLR救济，<b>银行可能不得不去杠杆化、筹集新资本、停止回购、出售优先股、拒绝存款并普遍减少准备金（不一定是所有这些，也不是按这个顺序），就像美联储向市场注入数千亿美元一样随着财政部耗尽其TGA账户。</b></blockquote></p><p></p><p>The massive expansion of the Fed’s balance that has occurred implied an equally massive growth in bank reserves held at Federal Reserve banks. <b>The expiration of the regulatory relief would add ~$2.1tn of leverage exposure across the 8 GSIBs. As well, TGA reduction and continued QE could add another ~$2.35tn of deposits to the system during 2021.</b><img src=\"https://static.tigerbbs.com/392342c2f3e1dd008b2276172a9b3ecf\" tg-width=\"500\" tg-height=\"253\" referrerpolicy=\"no-referrer\">While the expiry of the carve-out on March 31 would not have an immediate impact on GSIBs, the continued increase in leverage assets throughout the course of the year would increase long-term debt (LTD) and preferred requirements. Here, JPM takes an optimistic view and writes that<b>\"even the “worst” case issuance scenario as very manageable, with LTD needs of $35bn for TLAC requirements and preferred needs of $15-$20bn to maintain the industry-wide SLR at 5.6%.</b></p><p><blockquote>美联储资产负债表的大幅扩张意味着美联储银行持有的银行准备金也同样大幅增长。<b>监管救济到期将使8个GSIB的杠杆敞口增加约2.1万亿美元。此外，TGA的减少和持续的量化宽松可能会在2021年为系统再增加约2.35万亿美元的存款。</b>虽然3月31日豁免到期不会对GSIB产生直接影响，但全年杠杆资产的持续增加将增加长期债务(LTD)和优先要求。在这里，摩根大通持乐观观点，并写道<b>“即使是‘最坏’的发行情况也是非常可控的，LTD需要350亿美元来满足TLAC要求，优先需求为150-200亿美元，以将全行业SLR维持在5.6%。</b></blockquote></p><p>The constraint is greater at the bank entity, where the capacity to grow leverage exposure to be ~$765bn at 6.2% SLR.\"Goldman's take was more troubling: the bank estimated that under the continued QE regime, there would be a shortfall of some $2 trillion in reserve capacity, mainly in the form of deposits which the banks would be unable to accept as part of ongoing QE (much more in Goldman'sfull take of the SLR quandary).</p><p><blockquote>银行实体的限制更大，其杠杆敞口增加的能力约为7,650亿美元，SLR为6.2%。”高盛的观点更令人不安：该行估计，在持续的量化宽松制度下，储备能力将出现约2万亿美元的缺口，主要是银行无法接受的存款形式，作为正在进行的量化宽松的一部分（高盛对SLR困境的全面理解更是如此）。</blockquote></p><p><b>So what happens next?</b></p><p><blockquote><b>那么接下来会发生什么呢？</b></blockquote></p><p>Addressing this topic, yesterday Curvature's Scott Skyrm wrote that \"<i>the largest banks are enjoying much larger balance sheets, but there are political factors in Washington that are against an extension of the exemption.... Here are a couple of scenarios and their implications on the Repo market</i>:</p><p><blockquote>针对这个话题，昨天Curvature的Scott Skyrm写道“<i>最大的银行享有更大的资产负债表，但华盛顿有政治因素反对延长豁免....以下是几种情况及其对回购市场的影响</i>：</blockquote></p><p>The exemption is extended 3 months or 6 months - No impact on the Repo market. It's already fully priced-in.The exemption is continued for reserves, but ended for Treasurys. <b>Since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise. Volatility increases as Repo assets move from the largest banks to the other Repo market participants.The exemption is ended for both reserves and Treasurys. Same as above.</b>In other words, Skyrm has a relatively downbeat view, warning that \"since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise.\" Additionally, volatility is likely to increase as repo assets move from the largest banks to the other Repo market participants...</p><p><blockquote>豁免延长3个月或6个月——对回购市场没有影响。它已经完全定价了。准备金的豁免继续，但国债的豁免结束。<b>由于大型银行是回购市场上最大的现金提供者，因此进入市场的现金减少，回购利率上升。随着回购资产从最大的银行转移到其他回购市场参与者，波动性会增加。储备和国库的豁免均终止。同上。</b>换句话说，Skyrm持相对悲观的观点，警告称“由于大型银行是回购市场上最大的现金提供者，因此进入市场的现金减少，回购利率上升。”此外，随着回购资产从最大的银行转移到其他回购市场参与者，波动性可能会增加...</blockquote></p><p>Perhaps a bit too draconian? Well, last week, JPMorgan laid out 5 scenarios for SLR, of which two predicted the end of SLR relief on March 31, as follow:</p><p><blockquote>也许有点太严厉了？上周，摩根大通为SLR制定了5种情景，其中两种预测SLR救济将于3月31日结束，具体如下：</blockquote></p><p><u><b>3. Relief ends March 31, banks fully raise capital</b></u> <b>Impact on BanksRatesFront-End Rates</b> <u><b>4. Relief ends March 31, banks raise capital &amp; de-lever</b></u> <b>Impact on BanksRatesFront-End Rates</b>Going back to Zoltan, let's recallthat the repo gurualso cautioned that \"ending the exemption of reserves and Treasuries from the calculation of the SLR may mean that U.S. banks will turn away deposits and reserves on the margin (not Treasuries) to leave more room for market-making activities,<b>and these flows will swell further money funds’ inflows coming from TGA drawdowns.</b>\"</p><p><blockquote><u><b>3.纾困3月31日结束银行全面融资</b></u><b>对银行利率的影响前端利率</b><u><b>4.纾困3月31日结束，银行增资去杠杆</b></u><b>对银行利率的影响前端利率</b>回到Zoltan，让我们回想一下，这位回购大师还警告说，“结束准备金和国债在SLR计算中的豁免可能意味着美国银行将拒绝保证金（而不是国债）的存款和准备金，为市场留出更多空间。做市活动，<b>这些资金流动将进一步增加来自TGA提款的货币基金流入。</b>\"</blockquote></p><p>More importantly, Zoltan does not expect broad chaos in repo or broader markets, and instead provides a more benign view on the negligible impact the SLR has had (and will be if it is eliminated), as he explained in a note from Tuesday.</p><p><blockquote>更重要的是，Zoltan预计回购或更广泛的市场不会出现广泛的混乱，相反，正如他在周二的一份报告中解释的那样，他对SLR已经产生的微不足道的影响（如果它被消除，将会产生）提供了更良性的看法。</blockquote></p><p><img src=\"https://static.tigerbbs.com/caeeb2b1290e084832f29d61cea6a90b\" tg-width=\"500\" tg-height=\"534\" referrerpolicy=\"no-referrer\">How to determine if Zoltan's benign view is correct? He concluded his note by writing that \"given that our call for a zero-to-negative FRA-OIS spread by the end of June was predicated on the end of SLR extension and an assumption that the Fed will try to fix a quantity problem with prices, not quantities, today’s adjustments mean that FRA-OIS won’t trade all the way down to zero or negative territory.\"</p><p><blockquote>如何确定Zoltan的良性观点是否正确？他在报告的最后写道，“鉴于我们到6月底FRA-OIS利差为零至负的看涨期权是基于SLR延期的结束以及美联储将尝试解决数量问题的假设价格而不是数量，今天的调整意味着FRA-OIS不会一直跌至零或负值。”</blockquote></p><p>FRA-OIS from here will be a function of how tight FX swaps will trade relative to OIS, but Treasury bills trading at deeply sub-zero rates is no longer a risk...While Bills have occasionally dipped into the negative territory on occasion, so far they have avoided a fullblown plunge into NIRP, which may be just the positive sign the market is waiting for to ease the nerves associated with the sudden and largely unexpected end of the SLR exemption.</p><p><blockquote>这里的FRA-OIS将取决于外汇掉期相对于OIS的交易紧张程度，但以远低于零利率交易的国库券不再是一种风险...虽然账单偶尔会跌入负值，但到目前为止，它们避免了全面陷入NIRP，这可能只是市场正在等待的积极信号，以缓解与SLR豁免突然且基本上出乎意料的结束相关的紧张情绪。</blockquote></p><p>* *&nbsp; *</p><p><blockquote>** *</blockquote></p><p></p><p>Finally, for those curious what the immediate market impact will be, NatWest strategist Blake Gwinn writes that the Fed announcement that they’re letting regulatory exemptions for banks expire at the end of the month \"really threads the needle and \"assuages concerns about the potential long-term impact on the markets\" as<b>the SLR \"ends it but defuses a lot of the knee-jerk market reaction” by pledging to address the current design and calibration of the supplementary leverage ratio to prevent strains from developing</b>.</p><p><blockquote>最后，对于那些好奇对市场的直接影响会是什么的人来说，国民西敏寺银行策略师布莱克·格温(Blake Gwinn)写道，美联储宣布银行监管豁免将于本月底到期，“确实是穿针引线”，缓解了人们对银行监管豁免的担忧。对市场的潜在长期影响<b>SLR承诺解决补充杠杆率的当前设计和校准问题，以防止紧张局势的发展，从而“结束了它，但化解了许多下意识的市场反应”</b>.</blockquote></p><p>“I was never worried about a day-one bank puke of Treasuries or drawdown in repo or anything like that on no renewal,” Gwinn said. “My concern was the longer run,” like as reserves continue to rise, would the SLR “become a nuisance and drag on Treasuries and spreads” Gwinn concludes that with the statement, the Fed is<b>\"really speaking to those fears and basically saying, ‘don’t worry, we are on it’.”</b></p><p><blockquote>格温说：“我从来不担心银行第一天就会吐出国债或回购提款或类似的情况。”“我担心的是，从长远来看”，随着准备金继续上升，SLR是否会“成为一个麻烦并拖累国债和利差”格温总结道，通过这份声明，美联储<b>“真正解决这些恐惧，基本上是说，‘别担心，我们正在努力’。”</b></blockquote></p><p>Well, with yields spiking to HOD in early quad-witch trading, the market sure seems quite skeptical that the Fed is on anything.</p><p><blockquote>好吧，随着收益率在早期四女巫交易中飙升至HOD，市场似乎确实对美联储的行动持怀疑态度。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/stocks-bopnds-tank-after-fed-lets-slr-relief-expire\">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":{},"source_url":"https://www.zerohedge.com/markets/stocks-bopnds-tank-after-fed-lets-slr-relief-expire","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199154789","content_text":"As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio (SLR) exemption expire as scheduled on March 31, the one year anniversary of the rule change.The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on March 31, 2021.The temporary change was made to provide flexibility for depository institutions to provide credit to households and businesses in light of the COVID-19 event.This outcome is theone (again) correctly predictedby former NY Fed guru Zoltan Pozsar who following the FOMC said that \"the fact that the Fed made this adjustment practically preemptively – the o/n RRP facility is not being used at the moment, so there are no capacity constraints yet, while repo and bill yields aren’t trading negative yet –suggests that the Fed is “foaming the runway” for the end of SLR exemption.\"Knowing well this would be a very hot button issue for the market, the Fed published thefollowing statementto ease trader nerves, noting that while the SLR special treatment will expire on March 31, the Fed is \"inviting public comment on several potential SLR modifications\" and furthermore, \"Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability\" - in short, if yields spike, the Fed will re-introduce the SLR without delay:The Federal Reserve Board on Friday announced that the temporary change to its supplementary leverage ratio, or SLR, for bank holding companies will expire as scheduled on March 31. Additionally, the Board will shortly seek comment on measures to adjust the SLR. The Board will take appropriate actions to assure that any changes to the SLR do not erode the overall strength of bank capital requirements.To ease strains in the Treasury market resulting from the COVID-19 pandemic and to promote lending to households and businesses, the Board temporarily modified the SLR last year to exclude U.S. Treasury securities and central bank reserves. Since that time, the Treasury market has stabilized. However, because of recent growth in the supply of central bank reserves and the issuance of Treasury securities, the Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability.To ensure that the SLR—which was established in 2014 as an additional capital requirement—remains effective in an environment of higher reserves, the Board will soon be inviting public comment on several potential SLR modifications.The proposal and comments will contribute to ongoing discussions with the Department of the Treasury and other regulators on future work to ensure the resiliency of the Treasury market.The Fed's soothing wods notwithstanding,having been primed for a favorable outcome, the Fed's disappointing announcement was hardly the news traders were hoping for and stocks tumbled...Bond yields spiked...... while the stock of JPM, which is the most exposed bank to SLR relief (as noted yesterday in \"Facing Up To JP Morgan's Leverage Relief Threats\")....... slumped.In case you've been living under a rock, here's why you should care about the SLR decision: First, for those whomissed our primer on the issue, some background from JPM (ironically the one bank that has the most to lose from the Fed's decision) the bottom line is that without SLR relief,banks may have to delever, raise new capital, halt buybacks, sell preferred stock, turn down deposits and generally push back on reserves (not necessarily all of these, and not in that order) just as the Fed is injecting hundreds of billions of reserves into the market as the Treasury depletes its TGA account.The massive expansion of the Fed’s balance that has occurred implied an equally massive growth in bank reserves held at Federal Reserve banks. The expiration of the regulatory relief would add ~$2.1tn of leverage exposure across the 8 GSIBs. As well, TGA reduction and continued QE could add another ~$2.35tn of deposits to the system during 2021.While the expiry of the carve-out on March 31 would not have an immediate impact on GSIBs, the continued increase in leverage assets throughout the course of the year would increase long-term debt (LTD) and preferred requirements. Here, JPM takes an optimistic view and writes that\"even the “worst” case issuance scenario as very manageable, with LTD needs of $35bn for TLAC requirements and preferred needs of $15-$20bn to maintain the industry-wide SLR at 5.6%.The constraint is greater at the bank entity, where the capacity to grow leverage exposure to be ~$765bn at 6.2% SLR.\"Goldman's take was more troubling: the bank estimated that under the continued QE regime, there would be a shortfall of some $2 trillion in reserve capacity, mainly in the form of deposits which the banks would be unable to accept as part of ongoing QE (much more in Goldman'sfull take of the SLR quandary).So what happens next?Addressing this topic, yesterday Curvature's Scott Skyrm wrote that \"the largest banks are enjoying much larger balance sheets, but there are political factors in Washington that are against an extension of the exemption.... Here are a couple of scenarios and their implications on the Repo market:The exemption is extended 3 months or 6 months - No impact on the Repo market. It's already fully priced-in.The exemption is continued for reserves, but ended for Treasurys. Since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise. Volatility increases as Repo assets move from the largest banks to the other Repo market participants.The exemption is ended for both reserves and Treasurys. Same as above.In other words, Skyrm has a relatively downbeat view, warning that \"since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise.\" Additionally, volatility is likely to increase as repo assets move from the largest banks to the other Repo market participants...Perhaps a bit too draconian? Well, last week, JPMorgan laid out 5 scenarios for SLR, of which two predicted the end of SLR relief on March 31, as follow:3. Relief ends March 31, banks fully raise capital Impact on BanksRatesFront-End Rates 4. Relief ends March 31, banks raise capital & de-lever Impact on BanksRatesFront-End RatesGoing back to Zoltan, let's recallthat the repo gurualso cautioned that \"ending the exemption of reserves and Treasuries from the calculation of the SLR may mean that U.S. banks will turn away deposits and reserves on the margin (not Treasuries) to leave more room for market-making activities,and these flows will swell further money funds’ inflows coming from TGA drawdowns.\"More importantly, Zoltan does not expect broad chaos in repo or broader markets, and instead provides a more benign view on the negligible impact the SLR has had (and will be if it is eliminated), as he explained in a note from Tuesday.How to determine if Zoltan's benign view is correct? He concluded his note by writing that \"given that our call for a zero-to-negative FRA-OIS spread by the end of June was predicated on the end of SLR extension and an assumption that the Fed will try to fix a quantity problem with prices, not quantities, today’s adjustments mean that FRA-OIS won’t trade all the way down to zero or negative territory.\"FRA-OIS from here will be a function of how tight FX swaps will trade relative to OIS, but Treasury bills trading at deeply sub-zero rates is no longer a risk...While Bills have occasionally dipped into the negative territory on occasion, so far they have avoided a fullblown plunge into NIRP, which may be just the positive sign the market is waiting for to ease the nerves associated with the sudden and largely unexpected end of the SLR exemption.* *  *Finally, for those curious what the immediate market impact will be, NatWest strategist Blake Gwinn writes that the Fed announcement that they’re letting regulatory exemptions for banks expire at the end of the month \"really threads the needle and \"assuages concerns about the potential long-term impact on the markets\" asthe SLR \"ends it but defuses a lot of the knee-jerk market reaction” by pledging to address the current design and calibration of the supplementary leverage ratio to prevent strains from developing.“I was never worried about a day-one bank puke of Treasuries or drawdown in repo or anything like that on no renewal,” Gwinn said. “My concern was the longer run,” like as reserves continue to rise, would the SLR “become a nuisance and drag on Treasuries and spreads” Gwinn concludes that with the statement, the Fed is\"really speaking to those fears and basically saying, ‘don’t worry, we are on it’.”Well, with yields spiking to HOD in early quad-witch trading, the market sure seems quite skeptical that the Fed is on anything.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":302,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":870550200,"gmtCreate":1636636994120,"gmtModify":1636636994392,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CYRN\">$Cyren Ltd(CYRN)$</a>Sell sell sell!!!!","listText":"<a href=\"https://laohu8.com/S/CYRN\">$Cyren Ltd(CYRN)$</a>Sell sell sell!!!!","text":"$Cyren Ltd(CYRN)$Sell sell sell!!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/870550200","isVote":1,"tweetType":1,"viewCount":3077,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":843094377,"gmtCreate":1635781031791,"gmtModify":1635781031881,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Likely dead cat bounce?&nbsp;","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Likely dead cat bounce?&nbsp;","text":"$Tiger Brokers(TIGR)$Likely dead cat bounce?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/843094377","isVote":1,"tweetType":1,"viewCount":2712,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":360679670,"gmtCreate":1613914267190,"gmtModify":1634551873876,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Reply me pls","listText":"Reply me pls","text":"Reply me pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/360679670","repostId":"1143100356","repostType":4,"isVote":1,"tweetType":1,"viewCount":474,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":369928538,"gmtCreate":1613999244524,"gmtModify":1634551598253,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Reply and like my comment please","listText":"Reply and like my comment please","text":"Reply and like my comment 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pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/326843262","repostId":"1114441743","repostType":4,"isVote":1,"tweetType":1,"viewCount":457,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366545055,"gmtCreate":1614522729477,"gmtModify":1703478004201,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Reply and like my post lei&nbsp;","listText":"Reply and like my post lei&nbsp;","text":"Reply and like my post lei","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/366545055","repostId":"1117820997","repostType":4,"isVote":1,"tweetType":1,"viewCount":307,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":857656110,"gmtCreate":1635523310459,"gmtModify":1635523310584,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>$6 last call???","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>$6 last call???","text":"$Tiger Brokers(TIGR)$$6 last call???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/857656110","isVote":1,"tweetType":1,"viewCount":2058,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":362196860,"gmtCreate":1614604767050,"gmtModify":1703478739744,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Pls comment and like lei? I keep helping but no one help me","listText":"Pls comment and like lei? I keep helping but no one help me","text":"Pls comment and like lei? I keep helping but no one help me","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/362196860","repostId":"1184516667","repostType":4,"repost":{"id":"1184516667","kind":"news","pubTimestamp":1614602503,"share":"https://www.laohu8.com/m/news/1184516667?lang=zh_CN&edition=full","pubTime":"2021-03-01 20:41","market":"us","language":"en","title":"GameStop and AMC Entertainment shares active again premarket<blockquote>游戏驿站和AMC院线股价盘前再次活跃</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184516667","media":"Marketwatch","summary":"The group of \"meme\" stocks, led by videogame retailer GameStop Corp.that have been volatile in recen","content":"<p>The group of \"meme\" stocks, led by videogame retailer GameStop Corp.that have been volatile in recent weeks as investors on a Reddit subgroup have egged each other on, were active again in premarket trade Monday. GameStop shares were up 5% premarket, while shares of AMC Entertainment Holdings Inc.&nbsp;the world's biggest cinema chain, were up 12%. BlackBerry Ltd&nbsp;was up 3.8%, and Naked Brand Group Ltd.&nbsp;was up 9.5%. Koss Corp.&nbsp;a maker of headphones, was up 2.9%.</p><p><blockquote>以视频游戏零售商游戏驿站公司为首的“模因”股票最近几周因Reddit子组的投资者相互怂恿而波动较大，周一在盘前交易中再次活跃。游戏驿站股价盘前上涨5%，而全球最大的连锁影院AMC院线控股公司股价上涨12%。黑莓上涨3.8%，Naked Brand Group Ltd.上涨9.5%。耳机制造商Koss Corp.上涨2.9%。</blockquote></p><p>  GameStop shares have gained 440% in the year to date, as investors on Reddit's WallStreetBets platform sought to punish short sellers who had driven short interest in the stock to 140% by buying the stock and creating a short squeeze.</p><p><blockquote>今年迄今为止，游戏驿站股价已上涨440%，Reddit WallStreetBets平台上的投资者试图惩罚卖空者，这些卖空者通过购买该股并造成轧空，将该股的空头兴趣提高到140%。</blockquote></p><p></p>","source":"market_watch","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>GameStop and AMC Entertainment shares active again premarket<blockquote>游戏驿站和AMC院线股价盘前再次活跃</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\">\nGameStop and AMC Entertainment shares active again premarket<blockquote>游戏驿站和AMC院线股价盘前再次活跃</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Marketwatch</strong><span class=\"h-time small\">2021-03-01 20:41</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The group of \"meme\" stocks, led by videogame retailer GameStop Corp.that have been volatile in recent weeks as investors on a Reddit subgroup have egged each other on, were active again in premarket trade Monday. GameStop shares were up 5% premarket, while shares of AMC Entertainment Holdings Inc.&nbsp;the world's biggest cinema chain, were up 12%. BlackBerry Ltd&nbsp;was up 3.8%, and Naked Brand Group Ltd.&nbsp;was up 9.5%. Koss Corp.&nbsp;a maker of headphones, was up 2.9%.</p><p><blockquote>以视频游戏零售商游戏驿站公司为首的“模因”股票最近几周因Reddit子组的投资者相互怂恿而波动较大，周一在盘前交易中再次活跃。游戏驿站股价盘前上涨5%，而全球最大的连锁影院AMC院线控股公司股价上涨12%。黑莓上涨3.8%，Naked Brand Group Ltd.上涨9.5%。耳机制造商Koss Corp.上涨2.9%。</blockquote></p><p>  GameStop shares have gained 440% in the year to date, as investors on Reddit's WallStreetBets platform sought to punish short sellers who had driven short interest in the stock to 140% by buying the stock and creating a short squeeze.</p><p><blockquote>今年迄今为止，游戏驿站股价已上涨440%，Reddit WallStreetBets平台上的投资者试图惩罚卖空者，这些卖空者通过购买该股并造成轧空，将该股的空头兴趣提高到140%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/gamestop-and-amc-entertainment-shares-active-again-premarket-2021-03-01\">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":{},"source_url":"https://www.marketwatch.com/story/gamestop-and-amc-entertainment-shares-active-again-premarket-2021-03-01","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1184516667","content_text":"The group of \"meme\" stocks, led by videogame retailer GameStop Corp.that have been volatile in recent weeks as investors on a Reddit subgroup have egged each other on, were active again in premarket trade Monday. GameStop shares were up 5% premarket, while shares of AMC Entertainment Holdings Inc. the world's biggest cinema chain, were up 12%. BlackBerry Ltd was up 3.8%, and Naked Brand Group Ltd. was up 9.5%. Koss Corp. a maker of headphones, was up 2.9%.\n GameStop shares have gained 440% in the year to date, as investors on Reddit's WallStreetBets platform sought to punish short sellers who had driven short interest in the stock to 140% by buying the stock and creating a short squeeze.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366367216,"gmtCreate":1614396929535,"gmtModify":1703477274787,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"What to do!???","listText":"What to do!???","text":"What to do!???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/366367216","repostId":"1117820997","repostType":4,"isVote":1,"tweetType":1,"viewCount":600,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363436132,"gmtCreate":1614162255626,"gmtModify":1634550935656,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Hahaha reply pls","listText":"Hahaha reply pls","text":"Hahaha reply pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/363436132","repostId":"1159016557","repostType":4,"isVote":1,"tweetType":1,"viewCount":426,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320628311,"gmtCreate":1615096256733,"gmtModify":1703484708623,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Omg!!! Help me like and comment&nbsp;","listText":"Omg!!! Help me like and comment&nbsp;","text":"Omg!!! Help me like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/320628311","repostId":"1196034072","repostType":4,"repost":{"id":"1196034072","kind":"news","pubTimestamp":1614953178,"share":"https://www.laohu8.com/m/news/1196034072?lang=zh_CN&edition=full","pubTime":"2021-03-05 22:06","market":"us","language":"en","title":"Is The Nio Sell-Off Overdone?<blockquote>蔚来抛售是否过度？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1196034072","media":"Benzinga","summary":"NIO Inc.  shares have been soundly thrashed in the tech sell-off, and thequarterlyreport released ea","content":"<p><div> NIO Inc.  shares have been soundly thrashed in the tech sell-off, and thequarterlyreport released earlier this week did little to assuage sentiment. The stock is now in bear market territory, having ...</p><p><blockquote><div>蔚来股价在科技股抛售中遭受重创，本周早些时候发布的季度报告并没有缓解市场情绪。该股目前处于熊市区域，...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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 Nio Sell-Off Overdone?<blockquote>蔚来抛售是否过度？</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 Nio Sell-Off Overdone?<blockquote>蔚来抛售是否过度？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-03-05 22:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> NIO Inc.  shares have been soundly thrashed in the tech sell-off, and thequarterlyreport released earlier this week did little to assuage sentiment. The stock is now in bear market territory, having ...</p><p><blockquote><div>蔚来股价在科技股抛售中遭受重创，本周早些时候发布的季度报告并没有缓解市场情绪。该股目前处于熊市区域，...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">Benzinga</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":{"NIO":"蔚来"},"source_url":"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196034072","content_text":"NIO Inc.  shares have been soundly thrashed in the tech sell-off, and thequarterlyreport released earlier this week did little to assuage sentiment. The stock is now in bear market territory, having pulled back 35.7 % from the Feb. 10 high of $64.60.Is the sell-off in the shares justified? Did fundamentals flash the red light to investors, who were thronging to the stock in droves ahead of the current downturn?The 2020 Highs: The COVID-19 pandemic, which broke out at the end of 2019 and ravaged the global economies for much of 2020, proved a blessing for some companies that benefited from the adversity.Nio, a luxury EV maker, should have taken a big hit in the year, as cash-strapped users preferred to hold back on big-ticket buys. The company did have its momentum of despair in the first two months of 2020. Not bogged down by the adverse geopolitical milieu, the EV startup chose to be proactive instead. The company announced several innovative product andservice offerings.Deliveries continued to climb through the year, with Nio's charismatic CEO William Bin attributing the strength to the growing recognition of its premium brand, the competitive and compelling products and services, the expanding sales network, and most importantly, the support from its passionate and loyal user community.For 2020, Nio delivered 43,728 vehicles, an increase of 111% year-over-year.The company also managed to rein in costs, giving margins a lift. It also succeeded in mobilizing finances through a combination of equity, debt and strategic investments, removing a key existential risk it faced in 2019.Promptly the stock began discounting the fundamental improvement and closed out 2020 with a gain in excess of 1,100%. The strong rally stretched valuation to levels, with some skeptics beginning to question the irrational exuberance in the stock.Fundamentals, Stock Pause At Start of 2021: Nio had a strong start to the year, as it continued to clock record monthly deliveries in January. The stock raced to a record high of $66.99 on Jan. 11, as it reacted to the announcements the company made at the annual Nio Day held on Jan. 10.Thereafter, it has been a bumpy ride for the stock. Since the start of February, the stock has been caught in the vortex of the tech sell-off. Incidentally, market leader and EV pioneerTesla, Inc.TSLAwas not spared either. Since the all-time split-adjusted high of $900.40 hit in late January, Tesla shares have given back over 30%.Nio investors were pinning their hopes on a stellar fourth-quarter report to lift the stock from the depressed levels. It was not to be. The stock continued to bleed despite the EV maker reporting $1 billion revenues for the quarter and seeing an expansion in gross margins.Naysayers were quick to highlight the wider-than-expected loss and the month-over-month drop in deliveries.As outlined by Deutsche Bank Securities analyst Edison Yu, the underperformance on the bottom line had to do with forex losses, engendered by a weaker dollar.Although initially Nio did not explain away the February softness, it later clarified in a blog post the weeklong Lunar New Year holiday that fell in the month played spoilsport.\"The majority of the employees receive seven days off work as a public holiday to spend time with their families, though the celebrations can last for more than two weeks nationwide. Most of the factories were shut down for weeks, and many products that rely on shipping and manufacturing might have been delayed,\" Nio said in the post.Is Recovery In The Cards: The company has several catalysts ahead, including the launch of its first sedan, named ET7, and its plan to expand into Europe this year. The company is also making solid progress with respect to its advanced driver-assisted system, battery technology and battery swapping stations.With the increasing uptake of its battery-as-a-service offering and its recently announced autonomous driving-as-a-service, the company has laid the groundwork for recurrent revenue streams.This apart, the attractive market opportunity presented by the burgeoning EV market, both domestically and globally, will prove salubrious for the company. There is no denying the fact that EV manufacturing is turning out to be a crowded field. However, early entrants such as Nio are at an advantage, given their experiences in grinding it out in the early stages.Patient investors, who are willing to ride out the trying times, could be in for rich rewards when things settle down.Nio shares closed down 5.5% at $39.28, with the stock dropping below the $40 handle for the first time since mid-December.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":316,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":857833877,"gmtCreate":1635516899730,"gmtModify":1635516899856,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Target grab at 5.70","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Target grab at 5.70","text":"$Tiger Brokers(TIGR)$Target grab at 5.70","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/857833877","isVote":1,"tweetType":1,"viewCount":642,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":327588187,"gmtCreate":1616110338149,"gmtModify":1634527226104,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Yoyoyo reply like","listText":"Yoyoyo reply like","text":"Yoyoyo reply like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327588187","repostId":"1133539686","repostType":4,"isVote":1,"tweetType":1,"viewCount":454,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327845481,"gmtCreate":1616078023543,"gmtModify":1634527345791,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Reply n like!","listText":"Reply n like!","text":"Reply n like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327845481","repostId":"1163358852","repostType":4,"repost":{"id":"1163358852","kind":"news","pubTimestamp":1616076828,"share":"https://www.laohu8.com/m/news/1163358852?lang=zh_CN&edition=full","pubTime":"2021-03-18 22:13","market":"us","language":"en","title":"Why Wait for a Crash to Buy? These 3 Top Stocks Are Already Down More Than 40%<blockquote>为什么要等到崩盘才买入？这3只顶级股票已下跌超过40%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1163358852","media":"nasdaq","summary":"Investors love to be opportunistic. You can be sure the next time the market has a significant corre","content":"<p>Investors love to be opportunistic. You can be sure the next time the market has a significant correction -- or even an inevitable crash -- that battle-tested investors won't flinch at taking advantage of lower prices. What if I told you that a lot of promising growth stocks have<i>already</i>crashed?</p><p><blockquote>投资者喜欢投机取巧。你可以肯定的是，下次市场出现重大调整，甚至不可避免的崩盘时，久经考验的投资者不会因为利用较低的价格而退缩。如果我告诉你很多有前途的成长型股票<i>已经</i>撞车了？</blockquote></p><p>Shares of<b>Fastly</b>(NYSE: FSLY),<b>fuboTV</b>(NYSE: FUBO), and<b>Palantir Technologies</b>(NYSE: PLTR)have all fallen at least 40% from their 52-week highs. These aren't perfect stocks, but they're definitely not broken. Let's see why I think these are three investments are ripe for the picking in today's market climate.</p><p><blockquote>本公司之股份<b>快速地</b>（纽约证券交易所代码：FSLY），<b>富波电视</b>（纽约证券交易所代码：FUBO），以及<b>Palantir技术</b>(NYSE：PLTR)均较52周高点下跌至少40%。这些股票并不完美，但绝对没有坏。让我们看看为什么我认为在当今的市场环境下，这三项投资的时机已经成熟。</blockquote></p><p><b>1. Fastly</b></p><p><blockquote><b>1.快速</b></blockquote></p><p>This next-gen content delivery network was rocking until the clock ran out on TikTok last year. Caught on the losing end of a trade war dispute between the U.S. and China late last year, Fastlylost a top accountthat was generating more than 10% of its revenue through the first nine months of last year -- and growing quickly, to boot.</p><p><blockquote>这个下一代内容交付网络一直在摇摆，直到去年TikTok的时钟耗尽。去年年底，Fastly在中美贸易战争端中陷入失败，失去了一个顶级客户，该客户去年前9个月的收入占其收入的10%以上，而且增长迅速。</blockquote></p><p>There is life after TikTok, even if Fastly stock has shed nearly 45% of its value since topping out in October. Growth will slow from last year's 45% burst, but Fastly's guidance calls for decent 29% to 32% top-line growth in 2021. A recent acquisition is helping pad revenue gains, and Fastly's deficit will widen as it invests in new growth initiatives. This is far from a perfect company right now, but there's a lot to like here. Its net retention rate and dollar-based net expansion rate are slipping, but still comfortably over 100%. Fastly is keeping its customers happy, and there's no reason why the market believes that this is a little more than half the company it was five months ago.</p><p><blockquote>尽管Fastly股价自10月份见顶以来已下跌近45%，但TikTok之后仍有生机。增长将较去年45%的增幅放缓，但Fastly的指导评级是2021年营收增长29%至32%。最近的一次收购有助于增加收入，随着Fastly投资于新的增长计划，其赤字将扩大。目前这还远不是一家完美的公司，但这里有很多值得喜欢的地方。其净保留率和以美元计算的净扩张率正在下滑，但仍轻松超过100%。Fastly正在让客户满意，市场没有理由认为这只是五个月前公司的一半多一点。</blockquote></p><p><b>2. fuboTV</b></p><p><blockquote><b>2.fuboTV</b></blockquote></p><p>We're cutting the cord, and live-TV streaming services are there to fill the void that the leading streaming services can't provide when it comes to live network programming. No one is growing faster than fuboTV in this niche, and it's stepping on the accelerator. Pro forma revenue rose 71% in the third quarter, 98% in the fourth quarter, and fuboTV's guidance calls for growth of 98% to 102% for the current quarter.</p><p><blockquote>我们正在切断联系，直播电视流媒体服务将填补领先流媒体服务在直播网络节目方面无法提供的空白。在这个利基市场，没有人比fuboTV增长得更快，而且它正在踩油门。预计第三季度收入增长71%，第四季度增长98%，fuboTV的指导评级为本季度增长98%至102%。</blockquote></p><p>There are just545,000 subscribersright now, but they're a loyal and engaged lot of sports fans. Average revenue per user is up to $69.19 a month -- up 17% over the past year -- and that includes an industry-leading $8.47 a month in ad revenue. Why is this stock trading 49% below its December all-time high?</p><p><blockquote>目前只有545,000名订阅者，但他们是忠实且积极参与的体育迷。每个用户的平均收入高达每月69.19美元，比过去一年增长17%，其中包括行业领先的每月8.47美元的广告收入。为什么该股的交易价格比12月份的历史高点低49%？</blockquote></p><p>This isn't the only game to watch here. A pair of recent acquisitions will lead to a fantasy sports platform for members this summer and a more ambitious online sportsbook offering by the end of the year. If you think fuboTV's painting too rosy an outlook for 2021, keep in mind that it boosted its 2020 year-end guidance three times and it still found a way to come out on top.</p><p><blockquote>这不是这里唯一可以看的比赛。最近的两项收购将在今年夏天为会员带来一个梦幻体育平台，并在今年年底推出一个更雄心勃勃的在线体育博彩产品。如果您认为fuboTV对2021年的前景过于乐观，请记住，它三次上调了2020年年终指引，但仍然找到了脱颖而出的方法。</blockquote></p><p><b>3. Palantir</b></p><p><blockquote><b>3.Palantir</b></blockquote></p><p>Palantir and Fastly may initially seem to have been separated at birth. Both companies grew revenue by 40% in their latest quarter, off from a pace in the mid-40% range for all of 2020 (up 45% for Fastly versus 47% for Palantir). Both stocks were slammed on uninspiring guidance. Palantir istargeting 30% growthfor 2021, roughly the midpoint of Fastly's outlook. Wall Street can be a rough crowd when 30%-ish growth brings out the boo birds.</p><p><blockquote>Palantir和Fastly最初似乎在出生时就分开了。两家公司最近一个季度的收入增长了40%，低于2020年全年40%左右的增长率（Fastly增长45%，Palantir增长47%）。这两只股票都因指引平淡而遭受重创。Palantir的目标是2021年增长30%，大致是Fastly前景的中点。当30%左右的增长率引起嘘声时，华尔街可能会成为一群粗暴的人。</blockquote></p><p>Palantir's business model is naturally completely different than Fastly's. It's more ticktock than TikTok. Palantir's speciality is big-data business intelligence. It arms enterprises with actionable analysis from the data it collets. For better or worse more than half of Palantir's business comes from government contracts. It didn't generate a lot of buzz through its first few weeks of trading after last year'sIPO, but it certainly made up for lost time until peaking two months ago. It's been a 44% tumble from January's high. Palantir's valuation may have been overextended earlier this year, but this quality stock has gone from overbought to oversold in a hurry.</p><p><blockquote>Palantir的商业模式自然与Fastly完全不同。它比抖音更抖音。Palantir的专长是大数据商业智能。它从收集的数据中为企业提供可操作的分析。无论好坏，Palantir一半以上的业务来自政府合同。在去年IPO后的头几周交易中，它并没有引起太大的轰动，但它确实弥补了两个月前达到顶峰之前失去的时间。较1月份的高点下跌了44%。Palantir的估值在今年早些时候可能被高估了，但这只优质股票很快就从超买变成了超卖。</blockquote></p><p></p>","source":"lsy1603171495471","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 Wait for a Crash to Buy? These 3 Top Stocks Are Already Down More Than 40%<blockquote>为什么要等到崩盘才买入？这3只顶级股票已下跌超过40%</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 Wait for a Crash to Buy? These 3 Top Stocks Are Already Down More Than 40%<blockquote>为什么要等到崩盘才买入？这3只顶级股票已下跌超过40%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">nasdaq</strong><span class=\"h-time small\">2021-03-18 22:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Investors love to be opportunistic. You can be sure the next time the market has a significant correction -- or even an inevitable crash -- that battle-tested investors won't flinch at taking advantage of lower prices. What if I told you that a lot of promising growth stocks have<i>already</i>crashed?</p><p><blockquote>投资者喜欢投机取巧。你可以肯定的是，下次市场出现重大调整，甚至不可避免的崩盘时，久经考验的投资者不会因为利用较低的价格而退缩。如果我告诉你很多有前途的成长型股票<i>已经</i>撞车了？</blockquote></p><p>Shares of<b>Fastly</b>(NYSE: FSLY),<b>fuboTV</b>(NYSE: FUBO), and<b>Palantir Technologies</b>(NYSE: PLTR)have all fallen at least 40% from their 52-week highs. These aren't perfect stocks, but they're definitely not broken. Let's see why I think these are three investments are ripe for the picking in today's market climate.</p><p><blockquote>本公司之股份<b>快速地</b>（纽约证券交易所代码：FSLY），<b>富波电视</b>（纽约证券交易所代码：FUBO），以及<b>Palantir技术</b>(NYSE：PLTR)均较52周高点下跌至少40%。这些股票并不完美，但绝对没有坏。让我们看看为什么我认为在当今的市场环境下，这三项投资的时机已经成熟。</blockquote></p><p><b>1. Fastly</b></p><p><blockquote><b>1.快速</b></blockquote></p><p>This next-gen content delivery network was rocking until the clock ran out on TikTok last year. Caught on the losing end of a trade war dispute between the U.S. and China late last year, Fastlylost a top accountthat was generating more than 10% of its revenue through the first nine months of last year -- and growing quickly, to boot.</p><p><blockquote>这个下一代内容交付网络一直在摇摆，直到去年TikTok的时钟耗尽。去年年底，Fastly在中美贸易战争端中陷入失败，失去了一个顶级客户，该客户去年前9个月的收入占其收入的10%以上，而且增长迅速。</blockquote></p><p>There is life after TikTok, even if Fastly stock has shed nearly 45% of its value since topping out in October. Growth will slow from last year's 45% burst, but Fastly's guidance calls for decent 29% to 32% top-line growth in 2021. A recent acquisition is helping pad revenue gains, and Fastly's deficit will widen as it invests in new growth initiatives. This is far from a perfect company right now, but there's a lot to like here. Its net retention rate and dollar-based net expansion rate are slipping, but still comfortably over 100%. Fastly is keeping its customers happy, and there's no reason why the market believes that this is a little more than half the company it was five months ago.</p><p><blockquote>尽管Fastly股价自10月份见顶以来已下跌近45%，但TikTok之后仍有生机。增长将较去年45%的增幅放缓，但Fastly的指导评级是2021年营收增长29%至32%。最近的一次收购有助于增加收入，随着Fastly投资于新的增长计划，其赤字将扩大。目前这还远不是一家完美的公司，但这里有很多值得喜欢的地方。其净保留率和以美元计算的净扩张率正在下滑，但仍轻松超过100%。Fastly正在让客户满意，市场没有理由认为这只是五个月前公司的一半多一点。</blockquote></p><p><b>2. fuboTV</b></p><p><blockquote><b>2.fuboTV</b></blockquote></p><p>We're cutting the cord, and live-TV streaming services are there to fill the void that the leading streaming services can't provide when it comes to live network programming. No one is growing faster than fuboTV in this niche, and it's stepping on the accelerator. Pro forma revenue rose 71% in the third quarter, 98% in the fourth quarter, and fuboTV's guidance calls for growth of 98% to 102% for the current quarter.</p><p><blockquote>我们正在切断联系，直播电视流媒体服务将填补领先流媒体服务在直播网络节目方面无法提供的空白。在这个利基市场，没有人比fuboTV增长得更快，而且它正在踩油门。预计第三季度收入增长71%，第四季度增长98%，fuboTV的指导评级为本季度增长98%至102%。</blockquote></p><p>There are just545,000 subscribersright now, but they're a loyal and engaged lot of sports fans. Average revenue per user is up to $69.19 a month -- up 17% over the past year -- and that includes an industry-leading $8.47 a month in ad revenue. Why is this stock trading 49% below its December all-time high?</p><p><blockquote>目前只有545,000名订阅者，但他们是忠实且积极参与的体育迷。每个用户的平均收入高达每月69.19美元，比过去一年增长17%，其中包括行业领先的每月8.47美元的广告收入。为什么该股的交易价格比12月份的历史高点低49%？</blockquote></p><p>This isn't the only game to watch here. A pair of recent acquisitions will lead to a fantasy sports platform for members this summer and a more ambitious online sportsbook offering by the end of the year. If you think fuboTV's painting too rosy an outlook for 2021, keep in mind that it boosted its 2020 year-end guidance three times and it still found a way to come out on top.</p><p><blockquote>这不是这里唯一可以看的比赛。最近的两项收购将在今年夏天为会员带来一个梦幻体育平台，并在今年年底推出一个更雄心勃勃的在线体育博彩产品。如果您认为fuboTV对2021年的前景过于乐观，请记住，它三次上调了2020年年终指引，但仍然找到了脱颖而出的方法。</blockquote></p><p><b>3. Palantir</b></p><p><blockquote><b>3.Palantir</b></blockquote></p><p>Palantir and Fastly may initially seem to have been separated at birth. Both companies grew revenue by 40% in their latest quarter, off from a pace in the mid-40% range for all of 2020 (up 45% for Fastly versus 47% for Palantir). Both stocks were slammed on uninspiring guidance. Palantir istargeting 30% growthfor 2021, roughly the midpoint of Fastly's outlook. Wall Street can be a rough crowd when 30%-ish growth brings out the boo birds.</p><p><blockquote>Palantir和Fastly最初似乎在出生时就分开了。两家公司最近一个季度的收入增长了40%，低于2020年全年40%左右的增长率（Fastly增长45%，Palantir增长47%）。这两只股票都因指引平淡而遭受重创。Palantir的目标是2021年增长30%，大致是Fastly前景的中点。当30%左右的增长率引起嘘声时，华尔街可能会成为一群粗暴的人。</blockquote></p><p>Palantir's business model is naturally completely different than Fastly's. It's more ticktock than TikTok. Palantir's speciality is big-data business intelligence. It arms enterprises with actionable analysis from the data it collets. For better or worse more than half of Palantir's business comes from government contracts. It didn't generate a lot of buzz through its first few weeks of trading after last year'sIPO, but it certainly made up for lost time until peaking two months ago. It's been a 44% tumble from January's high. Palantir's valuation may have been overextended earlier this year, but this quality stock has gone from overbought to oversold in a hurry.</p><p><blockquote>Palantir的商业模式自然与Fastly完全不同。它比抖音更抖音。Palantir的专长是大数据商业智能。它从收集的数据中为企业提供可操作的分析。无论好坏，Palantir一半以上的业务来自政府合同。在去年IPO后的头几周交易中，它并没有引起太大的轰动，但它确实弥补了两个月前达到顶峰之前失去的时间。较1月份的高点下跌了44%。Palantir的估值在今年早些时候可能被高估了，但这只优质股票很快就从超买变成了超卖。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nasdaq.com/articles/why-wait-for-a-crash-to-buy-these-3-top-stocks-are-already-down-more-than-40-2021-03-18\">nasdaq</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":{"FSLY":"Fastly, Inc.","PLTR":"Palantir Technologies Inc.","FUBO":"fuboTV Inc."},"source_url":"https://www.nasdaq.com/articles/why-wait-for-a-crash-to-buy-these-3-top-stocks-are-already-down-more-than-40-2021-03-18","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163358852","content_text":"Investors love to be opportunistic. You can be sure the next time the market has a significant correction -- or even an inevitable crash -- that battle-tested investors won't flinch at taking advantage of lower prices. What if I told you that a lot of promising growth stocks havealreadycrashed?Shares ofFastly(NYSE: FSLY),fuboTV(NYSE: FUBO), andPalantir Technologies(NYSE: PLTR)have all fallen at least 40% from their 52-week highs. These aren't perfect stocks, but they're definitely not broken. Let's see why I think these are three investments are ripe for the picking in today's market climate.1. FastlyThis next-gen content delivery network was rocking until the clock ran out on TikTok last year. Caught on the losing end of a trade war dispute between the U.S. and China late last year, Fastlylost a top accountthat was generating more than 10% of its revenue through the first nine months of last year -- and growing quickly, to boot.There is life after TikTok, even if Fastly stock has shed nearly 45% of its value since topping out in October. Growth will slow from last year's 45% burst, but Fastly's guidance calls for decent 29% to 32% top-line growth in 2021. A recent acquisition is helping pad revenue gains, and Fastly's deficit will widen as it invests in new growth initiatives. This is far from a perfect company right now, but there's a lot to like here. Its net retention rate and dollar-based net expansion rate are slipping, but still comfortably over 100%. Fastly is keeping its customers happy, and there's no reason why the market believes that this is a little more than half the company it was five months ago.2. fuboTVWe're cutting the cord, and live-TV streaming services are there to fill the void that the leading streaming services can't provide when it comes to live network programming. No one is growing faster than fuboTV in this niche, and it's stepping on the accelerator. Pro forma revenue rose 71% in the third quarter, 98% in the fourth quarter, and fuboTV's guidance calls for growth of 98% to 102% for the current quarter.There are just545,000 subscribersright now, but they're a loyal and engaged lot of sports fans. Average revenue per user is up to $69.19 a month -- up 17% over the past year -- and that includes an industry-leading $8.47 a month in ad revenue. Why is this stock trading 49% below its December all-time high?This isn't the only game to watch here. A pair of recent acquisitions will lead to a fantasy sports platform for members this summer and a more ambitious online sportsbook offering by the end of the year. If you think fuboTV's painting too rosy an outlook for 2021, keep in mind that it boosted its 2020 year-end guidance three times and it still found a way to come out on top.3. PalantirPalantir and Fastly may initially seem to have been separated at birth. Both companies grew revenue by 40% in their latest quarter, off from a pace in the mid-40% range for all of 2020 (up 45% for Fastly versus 47% for Palantir). Both stocks were slammed on uninspiring guidance. Palantir istargeting 30% growthfor 2021, roughly the midpoint of Fastly's outlook. Wall Street can be a rough crowd when 30%-ish growth brings out the boo birds.Palantir's business model is naturally completely different than Fastly's. It's more ticktock than TikTok. Palantir's speciality is big-data business intelligence. It arms enterprises with actionable analysis from the data it collets. For better or worse more than half of Palantir's business comes from government contracts. It didn't generate a lot of buzz through its first few weeks of trading after last year'sIPO, but it certainly made up for lost time until peaking two months ago. It's been a 44% tumble from January's high. Palantir's valuation may have been overextended earlier this year, but this quality stock has gone from overbought to oversold in a hurry.","news_type":1,"symbols_score_info":{"PLTR":0.9,"FUBO":0.9,"FSLY":0.9}},"isVote":1,"tweetType":1,"viewCount":501,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":326849344,"gmtCreate":1615619241788,"gmtModify":1703491690721,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/326849344","repostId":"2118630979","repostType":4,"isVote":1,"tweetType":1,"viewCount":479,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":875911053,"gmtCreate":1637594067675,"gmtModify":1637594067767,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CYRN\">$Cyren Ltd(CYRN)$</a>Buy buy buy! Cheap","listText":"<a href=\"https://laohu8.com/S/CYRN\">$Cyren Ltd(CYRN)$</a>Buy buy buy! Cheap","text":"$Cyren Ltd(CYRN)$Buy buy buy! Cheap","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/875911053","isVote":1,"tweetType":1,"viewCount":1966,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":857608869,"gmtCreate":1635520214549,"gmtModify":1635520214632,"author":{"id":"3564049549732787","authorId":"3564049549732787","name":"BnK","avatar":"https://static.tigerbbs.com/876c107eda4b06e1ce38ffe04defc4e5","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3564049549732787","idStr":"3564049549732787"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Big candle forming!!!!","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Big candle forming!!!!","text":"$Tiger Brokers(TIGR)$Big candle forming!!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/857608869","isVote":1,"tweetType":1,"viewCount":3586,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}