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2021-05-27

$Tiger Brokers(TIGR)$Tiger stock added to MSCI China Shares Index. Effective as of market closing on 27 May 2021.This news should be a 强心针 for exciting surge today! Like and comment please!

2021-06-07

$Tiger Brokers(TIGR)$Will it reach 30 today!??Only positive news.Like and comment please!

2021-06-08

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2021-05-26

$Tiger Brokers(TIGR)$冲上云霄！Like and Comment pls!

2021-05-10

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US government declares emergency after cyberattack on major pipeline<blockquote>美国政府在主要管道遭到网络攻击后宣布进入紧急状态</blockquote>

2021-05-28

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2021-05-06

Bull Bull Bull

This COVID-19 Vaccine Stock Quietly Soared 75% In April: Is There More Upside Ahead?<blockquote>这只COVID-19疫苗股在4月份悄然飙升75%：未来还有更多上涨空间吗？</blockquote>

2021-05-28

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2021-06-08

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Global investors are losing interest in U.S. stocks and that will be a game changer<blockquote>全球投资者对美股失去兴趣，这将改变游戏规则</blockquote>

2021-05-12

$Tiger Brokers(TIGR)$Come on Tiger! We will all be sending u some bullish supplements! Like and Comment pls!

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href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Lets see you perform today!","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Lets see you perform today!","text":"$Tiger Brokers(TIGR)$Lets see you perform today!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/181597570","isVote":1,"tweetType":1,"viewCount":957,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180793570,"gmtCreate":1623225703690,"gmtModify":1634035622681,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>What happen to my little tiger. Please wake up today and start moving.Like and comment pls.","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>What happen to my little tiger. Please wake up today and start moving.Like and comment pls.","text":"$Tiger Brokers(TIGR)$What happen to my little tiger. Please wake up today and start moving.Like and comment pls.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/180793570","isVote":1,"tweetType":1,"viewCount":494,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117628699,"gmtCreate":1623139457311,"gmtModify":1634036539893,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/117628699","repostId":"1168188820","repostType":4,"repost":{"id":"1168188820","kind":"news","pubTimestamp":1623138527,"share":"https://www.laohu8.com/m/news/1168188820?lang=zh_CN&edition=full","pubTime":"2021-06-08 15:48","market":"us","language":"en","title":"Global investors are losing interest in U.S. stocks and that will be a game changer<blockquote>全球投资者对美股失去兴趣，这将改变游戏规则</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1168188820","media":"MarketWatch","summary":"The surge of money flowing into the U.S. market from around the world is not sustainable.\n\nFor some ","content":"<p>  <b>The surge of money flowing into the U.S. market from around the world is not sustainable.</b>  For some months now, the U.S. has looked exceptional compared to the rest of the world. Better COVID-19 vaccine rollout. Bigger fiscal policy push. Bolder reopening. Economic and market indicators showed this too. Consumption spiked well-above pre-pandemic levels and U.S. yields moved higher in anticipation of normalization. Investors put a huge bet on U.S. equities, with foreign investors accumulating U.S. stocks at unprecedented speed in 2020 and into 2021.</p><p><blockquote><b>从世界各地流入美国市场的资金激增是不可持续的。</b>几个月来，与世界其他地区相比，美国看起来很特别。更好的新冠肺炎疫苗推广。更大的财政政策推动。更大胆的重新开放。经济和市场指标也显示了这一点。消费飙升，远高于大流行前的水平，美国国债收益率因预期正常化而走高。投资者对美国股市下了巨大的赌注，外国投资者在2020年和2021年以前所未有的速度积累了美国股票。</blockquote></p><p> But cracks are forming in the U.S. exceptionalism narrative, and the money flow is at risk of a dramatic reversal.</p><p><blockquote>但美国例外论叙事正在形成裂痕，资金流动面临急剧逆转的风险。</blockquote></p><p> It is well-known that the economic recovery in the U.S. has been swift, and the debate has even shifted from strong growth towards overheating risk. But what is perhaps less known is how incredibly large the amount of money betting on a strong U.S. economic recovery has been.</p><p><blockquote>众所周知，美国经济复苏迅速，争论甚至从强劲增长转向过热风险。但也许鲜为人知的是，押注于美国经济强劲复苏的资金数额有多大。</blockquote></p><p> <b>Exceptionalism in money flow</b></p><p><blockquote><b>货币流动中的例外论</b></blockquote></p><p> The chart below shows foreign net equity inflow into the U.S. since 2000 based on balance of payment data. For several quarters, the U.S. attracted historically large equity inflows, with net foreign inflows of more than $400 billion in 2020.</p><p><blockquote>下图根据国际收支数据显示了自2000年以来流入美国的外国净股权。几个季度以来，美国吸引了历史上大量的股票流入，2020年外国净流入超过4000亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/25f6abf41a80e588613658d84ac1eaa3\" tg-width=\"1260\" tg-height=\"718\">The next chart shows the balance of payments data broken down into inflows (liabilities) and outflows (assets). It highlights that the inflows were the driving force of the large net numbers and that they accelerated during 2020.</p><p><blockquote>下图显示了细分为流入（负债）和流出（资产）的国际收支数据。它强调，资金流入是大量净流入的驱动力，并且在2020年期间加速。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0463f3dc176b8202dfd4ad7e06e93111\" tg-width=\"1260\" tg-height=\"672\">The foreign inflows in the fourth quarter of 2020 alone were &gt;$250bn (&gt;$1 trillion annualized) and in the region 5% of GDP. Even during the 1999-2001 dotcom bubble, we did not see many quarters above 2% of GDP.</p><p><blockquote>仅2020年第四季度的外国流入量就超过2500亿美元（年化超过1万亿美元），占该地区GDP的5%。即使在1999-2001年的互联网泡沫期间，我们也没有看到多少季度超过GDP的2%。</blockquote></p><p> U.S. exceptionalism also is illustrated in this next chart, which shows U.S. “market share” in total global cross-border equity flows. The U.S. has indeed been exceptional, grabbing close to all of the world’s recent gross-flow (some flows to specific countries can be negative).</p><p><blockquote>下一张图表也说明了美国的例外论，该图表显示了美国在全球跨境股权流动总额中的“市场份额”。美国确实是个例外，几乎占据了世界近期所有的总流量（一些流向特定国家的流量可能是负的）。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d6992f35f36732c19fa646d842483e53\" tg-width=\"1259\" tg-height=\"827\"><b>Exceptionalism is now in question</b></p><p><blockquote><b>例外论现在受到质疑</b></blockquote></p><p> Enough about the past. Where do investors stand now, and where are we heading? Many pieces of evidence show that investors are questioning the exceptionalism narrative and changing the direction of money flow:</p><p><blockquote>过去的事说够了。投资者现在的立场是什么，我们将走向何方？许多证据表明，投资者正在质疑例外论叙事，并改变资金流动方向：</blockquote></p><p> First, the latest official monthly data (the March TIC data) shows that foreign appetite for U.S. stocks is potentially waning in an important way. The strong momentum from 2020 continued into January and February 2021. But there was a big reversal in March.</p><p><blockquote>首先，最新的官方月度数据（3月份TIC数据）显示，外国对美国股市的兴趣可能正在以一种重要的方式减弱。2020年的强劲势头持续到2021年1月和2月。但3月份出现了大逆转。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cc43d90772a6546441d2f422afbe8887\" tg-width=\"1260\" tg-height=\"573\">Second, in a way this is all logical, since the rest of the world is catching up with the U.S. on the vaccine front. The chart below shows that the EU began to vaccinate more people (per capita) than the U.S. in May. Recently China has also surpassed the U.S. (and the EU). This means that other countries are quickly catching up in terms of immunity and economic reopening will follow shortly thereafter.</p><p><blockquote>其次，在某种程度上，这一切都是合乎逻辑的，因为世界其他地区正在疫苗方面赶上美国。下图显示，欧盟在5月份开始接种疫苗的人数（人均）超过了美国。最近中国也超过了美国（和欧盟）。这意味着其他国家在免疫力方面正在迅速赶上，此后不久将重新开放经济。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bf91e8b1846be8ba1f2c3df15589c716\" tg-width=\"1260\" tg-height=\"902\">Third, U.S. bond yields, which spiked in the first quarter of 2021, are no longer leading the global move higher in interest rates. The chart below shows how U.S.10-year TreasuryTMUBMUSD10Y,1.561%yield rose by 0.8 percentage points in the first quarter (gray bars), much more than European yields. But in the second quarter of 2021 (blue bars) the ranking is totally different. Yields in Europe are rising the most, while U.S. yields are declining.</p><p><blockquote>第三，2021年第一季度飙升的美国债券收益率不再引领全球利率走高。下图显示了美国10年期国债TMUBMUSD10Y, 1.561%收益率在第一季度上涨了0.8个百分点（灰色条），远高于欧洲收益率。但在2021年第二季度（蓝条），排名完全不同。欧洲的收益率上升幅度最大，而美国的收益率则在下降。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8c8cb07b7c832cf87fdf3ff2b1cd2176\" tg-width=\"1260\" tg-height=\"756\">Fourth, relative equity market performance is starting to flip. After a long period of structural U.S. equity market outperformance, U.S. leadership is in question. Relative to EurostoxxSXXE,0.15%(the index of the most liquid European stocks), the S&amp;P 500SPX,-0.08%has underperformed since October 2020. This could well have further to run, given valuation differences — and especially if technology stocks are a drag on the U.S. market.</p><p><blockquote>第四，股票市场的相对表现开始转变。在美国股市长期结构性表现优异后，美国的领导地位受到质疑。相对于EurostoxxSXXE, 0.15%（流动性最强的欧洲股票指数），标准普尔500SPX,-0.08%自2020年10月以来表现不佳。考虑到估值差异，这种情况很可能会进一步发展，特别是如果科技股拖累美国市场的话。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8d2d9bad697ba7ff1b24909132362c72\" tg-width=\"1260\" tg-height=\"752\">We can already observe a form of divergence between U.S. equity performance (erratic) and the underlying economic performance (still strong). The money flows make that picture more understandable: money flows into the U.S. equity market got so extended that some mean-reversion was inevitable.</p><p><blockquote>我们已经可以观察到美国股市表现（不稳定）和潜在经济表现（仍然强劲）之间的某种背离。资金流动让这种情况变得更容易理解：流入美国股市的资金如此之多，以至于某种均值回归是不可避免的。</blockquote></p><p></p><p> Less demand for U.S. equity products has implications for relative U.S. equity performance, and may also impact the U.S. dollar via the overall structure of balance of payment financing. This is a problem in the context of awidening current account deficit.</p><p><blockquote>对美国股票产品的需求减少会影响美国股票的相对表现，也可能通过国际收支融资的整体结构影响美元。在经常账户赤字不断扩大的背景下，这是一个问题。</blockquote></p><p> The U.S. has an exceptional fiscal stance and an exceptional current account position. If financing via equities is becoming less exceptional, something else will have to give.</p><p><blockquote>美国拥有特殊的财政状况和特殊的经常账户头寸。如果通过股票融资变得不那么特殊，就必须做出其他贡献。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Global investors are losing interest in U.S. stocks and that will be a game changer<blockquote>全球投资者对美股失去兴趣，这将改变游戏规则</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\">\nGlobal investors are losing interest in U.S. stocks and that will be a game changer<blockquote>全球投资者对美股失去兴趣，这将改变游戏规则</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-08 15:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>The surge of money flowing into the U.S. market from around the world is not sustainable.</b>  For some months now, the U.S. has looked exceptional compared to the rest of the world. Better COVID-19 vaccine rollout. Bigger fiscal policy push. Bolder reopening. Economic and market indicators showed this too. Consumption spiked well-above pre-pandemic levels and U.S. yields moved higher in anticipation of normalization. Investors put a huge bet on U.S. equities, with foreign investors accumulating U.S. stocks at unprecedented speed in 2020 and into 2021.</p><p><blockquote><b>从世界各地流入美国市场的资金激增是不可持续的。</b>几个月来，与世界其他地区相比，美国看起来很特别。更好的新冠肺炎疫苗推广。更大的财政政策推动。更大胆的重新开放。经济和市场指标也显示了这一点。消费飙升，远高于大流行前的水平，美国国债收益率因预期正常化而走高。投资者对美国股市下了巨大的赌注，外国投资者在2020年和2021年以前所未有的速度积累了美国股票。</blockquote></p><p> But cracks are forming in the U.S. exceptionalism narrative, and the money flow is at risk of a dramatic reversal.</p><p><blockquote>但美国例外论叙事正在形成裂痕，资金流动面临急剧逆转的风险。</blockquote></p><p> It is well-known that the economic recovery in the U.S. has been swift, and the debate has even shifted from strong growth towards overheating risk. But what is perhaps less known is how incredibly large the amount of money betting on a strong U.S. economic recovery has been.</p><p><blockquote>众所周知，美国经济复苏迅速，争论甚至从强劲增长转向过热风险。但也许鲜为人知的是，押注于美国经济强劲复苏的资金数额有多大。</blockquote></p><p> <b>Exceptionalism in money flow</b></p><p><blockquote><b>货币流动中的例外论</b></blockquote></p><p> The chart below shows foreign net equity inflow into the U.S. since 2000 based on balance of payment data. For several quarters, the U.S. attracted historically large equity inflows, with net foreign inflows of more than $400 billion in 2020.</p><p><blockquote>下图根据国际收支数据显示了自2000年以来流入美国的外国净股权。几个季度以来，美国吸引了历史上大量的股票流入，2020年外国净流入超过4000亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/25f6abf41a80e588613658d84ac1eaa3\" tg-width=\"1260\" tg-height=\"718\">The next chart shows the balance of payments data broken down into inflows (liabilities) and outflows (assets). It highlights that the inflows were the driving force of the large net numbers and that they accelerated during 2020.</p><p><blockquote>下图显示了细分为流入（负债）和流出（资产）的国际收支数据。它强调，资金流入是大量净流入的驱动力，并且在2020年期间加速。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0463f3dc176b8202dfd4ad7e06e93111\" tg-width=\"1260\" tg-height=\"672\">The foreign inflows in the fourth quarter of 2020 alone were &gt;$250bn (&gt;$1 trillion annualized) and in the region 5% of GDP. Even during the 1999-2001 dotcom bubble, we did not see many quarters above 2% of GDP.</p><p><blockquote>仅2020年第四季度的外国流入量就超过2500亿美元（年化超过1万亿美元），占该地区GDP的5%。即使在1999-2001年的互联网泡沫期间，我们也没有看到多少季度超过GDP的2%。</blockquote></p><p> U.S. exceptionalism also is illustrated in this next chart, which shows U.S. “market share” in total global cross-border equity flows. The U.S. has indeed been exceptional, grabbing close to all of the world’s recent gross-flow (some flows to specific countries can be negative).</p><p><blockquote>下一张图表也说明了美国的例外论，该图表显示了美国在全球跨境股权流动总额中的“市场份额”。美国确实是个例外，几乎占据了世界近期所有的总流量（一些流向特定国家的流量可能是负的）。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d6992f35f36732c19fa646d842483e53\" tg-width=\"1259\" tg-height=\"827\"><b>Exceptionalism is now in question</b></p><p><blockquote><b>例外论现在受到质疑</b></blockquote></p><p> Enough about the past. Where do investors stand now, and where are we heading? Many pieces of evidence show that investors are questioning the exceptionalism narrative and changing the direction of money flow:</p><p><blockquote>过去的事说够了。投资者现在的立场是什么，我们将走向何方？许多证据表明，投资者正在质疑例外论叙事，并改变资金流动方向：</blockquote></p><p> First, the latest official monthly data (the March TIC data) shows that foreign appetite for U.S. stocks is potentially waning in an important way. The strong momentum from 2020 continued into January and February 2021. But there was a big reversal in March.</p><p><blockquote>首先，最新的官方月度数据（3月份TIC数据）显示，外国对美国股市的兴趣可能正在以一种重要的方式减弱。2020年的强劲势头持续到2021年1月和2月。但3月份出现了大逆转。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cc43d90772a6546441d2f422afbe8887\" tg-width=\"1260\" tg-height=\"573\">Second, in a way this is all logical, since the rest of the world is catching up with the U.S. on the vaccine front. The chart below shows that the EU began to vaccinate more people (per capita) than the U.S. in May. Recently China has also surpassed the U.S. (and the EU). This means that other countries are quickly catching up in terms of immunity and economic reopening will follow shortly thereafter.</p><p><blockquote>其次，在某种程度上，这一切都是合乎逻辑的，因为世界其他地区正在疫苗方面赶上美国。下图显示，欧盟在5月份开始接种疫苗的人数（人均）超过了美国。最近中国也超过了美国（和欧盟）。这意味着其他国家在免疫力方面正在迅速赶上，此后不久将重新开放经济。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bf91e8b1846be8ba1f2c3df15589c716\" tg-width=\"1260\" tg-height=\"902\">Third, U.S. bond yields, which spiked in the first quarter of 2021, are no longer leading the global move higher in interest rates. The chart below shows how U.S.10-year TreasuryTMUBMUSD10Y,1.561%yield rose by 0.8 percentage points in the first quarter (gray bars), much more than European yields. But in the second quarter of 2021 (blue bars) the ranking is totally different. Yields in Europe are rising the most, while U.S. yields are declining.</p><p><blockquote>第三，2021年第一季度飙升的美国债券收益率不再引领全球利率走高。下图显示了美国10年期国债TMUBMUSD10Y, 1.561%收益率在第一季度上涨了0.8个百分点（灰色条），远高于欧洲收益率。但在2021年第二季度（蓝条），排名完全不同。欧洲的收益率上升幅度最大，而美国的收益率则在下降。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8c8cb07b7c832cf87fdf3ff2b1cd2176\" tg-width=\"1260\" tg-height=\"756\">Fourth, relative equity market performance is starting to flip. After a long period of structural U.S. equity market outperformance, U.S. leadership is in question. Relative to EurostoxxSXXE,0.15%(the index of the most liquid European stocks), the S&amp;P 500SPX,-0.08%has underperformed since October 2020. This could well have further to run, given valuation differences — and especially if technology stocks are a drag on the U.S. market.</p><p><blockquote>第四，股票市场的相对表现开始转变。在美国股市长期结构性表现优异后，美国的领导地位受到质疑。相对于EurostoxxSXXE, 0.15%（流动性最强的欧洲股票指数），标准普尔500SPX,-0.08%自2020年10月以来表现不佳。考虑到估值差异，这种情况很可能会进一步发展，特别是如果科技股拖累美国市场的话。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8d2d9bad697ba7ff1b24909132362c72\" tg-width=\"1260\" tg-height=\"752\">We can already observe a form of divergence between U.S. equity performance (erratic) and the underlying economic performance (still strong). The money flows make that picture more understandable: money flows into the U.S. equity market got so extended that some mean-reversion was inevitable.</p><p><blockquote>我们已经可以观察到美国股市表现（不稳定）和潜在经济表现（仍然强劲）之间的某种背离。资金流动让这种情况变得更容易理解：流入美国股市的资金如此之多，以至于某种均值回归是不可避免的。</blockquote></p><p></p><p> Less demand for U.S. equity products has implications for relative U.S. equity performance, and may also impact the U.S. dollar via the overall structure of balance of payment financing. This is a problem in the context of awidening current account deficit.</p><p><blockquote>对美国股票产品的需求减少会影响美国股票的相对表现，也可能通过国际收支融资的整体结构影响美元。在经常账户赤字不断扩大的背景下，这是一个问题。</blockquote></p><p> The U.S. has an exceptional fiscal stance and an exceptional current account position. If financing via equities is becoming less exceptional, something else will have to give.</p><p><blockquote>美国拥有特殊的财政状况和特殊的经常账户头寸。如果通过股票融资变得不那么特殊，就必须做出其他贡献。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/global-investors-enthusiasm-for-u-s-stocks-is-fading-and-that-will-be-a-game-changer-11623049201?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.marketwatch.com/story/global-investors-enthusiasm-for-u-s-stocks-is-fading-and-that-will-be-a-game-changer-11623049201?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168188820","content_text":"The surge of money flowing into the U.S. market from around the world is not sustainable.\n\nFor some months now, the U.S. has looked exceptional compared to the rest of the world. Better COVID-19 vaccine rollout. Bigger fiscal policy push. Bolder reopening. Economic and market indicators showed this too. Consumption spiked well-above pre-pandemic levels and U.S. yields moved higher in anticipation of normalization. Investors put a huge bet on U.S. equities, with foreign investors accumulating U.S. stocks at unprecedented speed in 2020 and into 2021.\nBut cracks are forming in the U.S. exceptionalism narrative, and the money flow is at risk of a dramatic reversal.\nIt is well-known that the economic recovery in the U.S. has been swift, and the debate has even shifted from strong growth towards overheating risk. But what is perhaps less known is how incredibly large the amount of money betting on a strong U.S. economic recovery has been.\nExceptionalism in money flow\nThe chart below shows foreign net equity inflow into the U.S. since 2000 based on balance of payment data. For several quarters, the U.S. attracted historically large equity inflows, with net foreign inflows of more than $400 billion in 2020.\nThe next chart shows the balance of payments data broken down into inflows (liabilities) and outflows (assets). It highlights that the inflows were the driving force of the large net numbers and that they accelerated during 2020.\nThe foreign inflows in the fourth quarter of 2020 alone were >$250bn (>$1 trillion annualized) and in the region 5% of GDP. Even during the 1999-2001 dotcom bubble, we did not see many quarters above 2% of GDP.\nU.S. exceptionalism also is illustrated in this next chart, which shows U.S. “market share” in total global cross-border equity flows. The U.S. has indeed been exceptional, grabbing close to all of the world’s recent gross-flow (some flows to specific countries can be negative).\nExceptionalism is now in question\nEnough about the past. Where do investors stand now, and where are we heading? Many pieces of evidence show that investors are questioning the exceptionalism narrative and changing the direction of money flow:\nFirst, the latest official monthly data (the March TIC data) shows that foreign appetite for U.S. stocks is potentially waning in an important way. The strong momentum from 2020 continued into January and February 2021. But there was a big reversal in March.\nSecond, in a way this is all logical, since the rest of the world is catching up with the U.S. on the vaccine front. The chart below shows that the EU began to vaccinate more people (per capita) than the U.S. in May. Recently China has also surpassed the U.S. (and the EU). This means that other countries are quickly catching up in terms of immunity and economic reopening will follow shortly thereafter.\nThird, U.S. bond yields, which spiked in the first quarter of 2021, are no longer leading the global move higher in interest rates. The chart below shows how U.S.10-year TreasuryTMUBMUSD10Y,1.561%yield rose by 0.8 percentage points in the first quarter (gray bars), much more than European yields. But in the second quarter of 2021 (blue bars) the ranking is totally different. Yields in Europe are rising the most, while U.S. yields are declining.\nFourth, relative equity market performance is starting to flip. After a long period of structural U.S. equity market outperformance, U.S. leadership is in question. Relative to EurostoxxSXXE,0.15%(the index of the most liquid European stocks), the S&P 500SPX,-0.08%has underperformed since October 2020. This could well have further to run, given valuation differences — and especially if technology stocks are a drag on the U.S. market.\nWe can already observe a form of divergence between U.S. equity performance (erratic) and the underlying economic performance (still strong). The money flows make that picture more understandable: money flows into the U.S. equity market got so extended that some mean-reversion was inevitable.\nLess demand for U.S. equity products has implications for relative U.S. equity performance, and may also impact the U.S. dollar via the overall structure of balance of payment financing. This is a problem in the context of awidening current account deficit.\nThe U.S. has an exceptional fiscal stance and an exceptional current account position. If financing via equities is becoming less exceptional, something else will have to give.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":647,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117628813,"gmtCreate":1623139442732,"gmtModify":1634036540014,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/117628813","repostId":"1129979880","repostType":4,"isVote":1,"tweetType":1,"viewCount":668,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":114999049,"gmtCreate":1623040476481,"gmtModify":1634095944496,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Will it reach 30 today!??Only&nbsp;positive news.Like and comment please!","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Will it reach 30 today!??Only&nbsp;positive news.Like and comment please!","text":"$Tiger Brokers(TIGR)$Will it reach 30 today!??Only positive news.Like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":0,"repostSize":1,"link":"https://laohu8.com/post/114999049","isVote":1,"tweetType":1,"viewCount":834,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115364602,"gmtCreate":1622952291506,"gmtModify":1634096635741,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"Market is correcting! Invest carefully before buying the dip!Like and comment pls.","listText":"Market is correcting! Invest carefully before buying the dip!Like and comment pls.","text":"Market is correcting! Invest carefully before buying the dip!Like and comment pls.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/115364602","isVote":1,"tweetType":1,"viewCount":735,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112590430,"gmtCreate":1622881782720,"gmtModify":1634097085063,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Pls maintain the trend. Looking forward to be able to trade coins!Like and comment pls.","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Pls maintain the trend. Looking forward to be able to trade coins!Like and comment pls.","text":"$Tiger Brokers(TIGR)$Pls maintain the trend. Looking forward to be able to trade coins!Like and comment pls.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/112590430","isVote":1,"tweetType":1,"viewCount":893,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":113631819,"gmtCreate":1622608749331,"gmtModify":1634099960094,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>KEY POINTSTwo of China’s rivals to stock trading app Robinhood are looking to cryptocurrencies as&nbsp; https://www.laohu8.com/m/news/1102282264?lang=en_us&amp;invite=BD6I9QLooking forward to be able to trade with crypto on Tiger!Like and Comment please!&nbsp;#HODL #DiamondHands","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>KEY POINTSTwo of China’s rivals to stock trading app Robinhood are looking to cryptocurrencies as&nbsp; https://www.laohu8.com/m/news/1102282264?lang=en_us&amp;invite=BD6I9QLooking forward to be able to trade with crypto on Tiger!Like and Comment please!&nbsp;#HODL #DiamondHands","text":"$Tiger Brokers(TIGR)$KEY POINTSTwo of China’s rivals to stock trading app Robinhood are looking to cryptocurrencies as https://www.laohu8.com/m/news/1102282264?lang=en_us&invite=BD6I9QLooking forward to be able to trade with crypto on Tiger!Like and Comment please! #HODL #DiamondHands","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/113631819","isVote":1,"tweetType":1,"viewCount":607,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":119033929,"gmtCreate":1622507891461,"gmtModify":1634101029704,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Please recover tonight.Like and comment please.","listText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Please recover tonight.Like and comment please.","text":"$Tesla Motors(TSLA)$Please recover tonight.Like and comment please.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/119033929","isVote":1,"tweetType":1,"viewCount":370,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137461032,"gmtCreate":1622378511726,"gmtModify":1634101933523,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/137461032","repostId":"2138948877","repostType":4,"isVote":1,"tweetType":1,"viewCount":403,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137463403,"gmtCreate":1622378498702,"gmtModify":1634101933757,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"Rubbish","listText":"Rubbish","text":"Rubbish","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/137463403","repostId":"2138765488","repostType":4,"isVote":1,"tweetType":1,"viewCount":355,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137067416,"gmtCreate":1622270773135,"gmtModify":1634102583131,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Rubbish Rumours.&nbsp;Please like and comment!","listText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Rubbish Rumours.&nbsp;Please like and comment!","text":"$Tesla Motors(TSLA)$Rubbish Rumours. Please like and comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/137067416","isVote":1,"tweetType":1,"viewCount":352,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135782400,"gmtCreate":1622184906600,"gmtModify":1634183036224,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/135782400","repostId":"2138179599","repostType":4,"isVote":1,"tweetType":1,"viewCount":407,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135782613,"gmtCreate":1622184893432,"gmtModify":1634183036450,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/135782613","repostId":"1148985369","repostType":4,"isVote":1,"tweetType":1,"viewCount":463,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":132420812,"gmtCreate":1622108222436,"gmtModify":1634183784728,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Tiger stock added to MSCI China Shares Index. Effective as of market closing on 27 May 2021.This news should be a 强心针 for exciting surge today!&nbsp;Like and comment please!","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Tiger stock added to MSCI China Shares Index. Effective as of market closing on 27 May 2021.This news should be a 强心针 for exciting surge today!&nbsp;Like and comment please!","text":"$Tiger Brokers(TIGR)$Tiger stock added to MSCI China Shares Index. Effective as of market closing on 27 May 2021.This news should be a 强心针 for exciting surge today! Like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/132420812","isVote":1,"tweetType":1,"viewCount":1217,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3516165326153666","authorId":"3516165326153666","name":"海天飞鸟","avatar":"https://static.tigerbbs.com/11525d1cb6ee5144cf68f0f61953987a","crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3516165326153666","idStr":"3516165326153666"},"content":"这个指数跟新兴市场指数不是同一个指数吧！","text":"这个指数跟新兴市场指数不是同一个指数吧！","html":"这个指数跟新兴市场指数不是同一个指数吧！"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":138739668,"gmtCreate":1621960555954,"gmtModify":1634185125796,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>冲上云霄！Like and Comment pls!","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>冲上云霄！Like and Comment pls!","text":"$Tiger Brokers(TIGR)$冲上云霄！Like and Comment pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/138739668","isVote":1,"tweetType":1,"viewCount":636,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":138303481,"gmtCreate":1621907851743,"gmtModify":1634185599602,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"The market has been like my girlfriend.3 rainy days, 2 Sunny days. 风调雨顺 faster come.Like and comment pls!","listText":"The market has been like my girlfriend.3 rainy days, 2 Sunny days. 风调雨顺 faster come.Like and comment pls!","text":"The market has been like my girlfriend.3 rainy days, 2 Sunny days. 风调雨顺 faster come.Like and comment pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/138303481","isVote":1,"tweetType":1,"viewCount":529,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":132420812,"gmtCreate":1622108222436,"gmtModify":1634183784728,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Tiger stock added to MSCI China Shares Index. Effective as of market closing on 27 May 2021.This news should be a 强心针 for exciting surge today!&nbsp;Like and comment please!","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Tiger stock added to MSCI China Shares Index. Effective as of market closing on 27 May 2021.This news should be a 强心针 for exciting surge today!&nbsp;Like and comment please!","text":"$Tiger Brokers(TIGR)$Tiger stock added to MSCI China Shares Index. Effective as of market closing on 27 May 2021.This news should be a 强心针 for exciting surge today! Like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/132420812","isVote":1,"tweetType":1,"viewCount":1217,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3516165326153666","authorId":"3516165326153666","name":"海天飞鸟","avatar":"https://static.tigerbbs.com/11525d1cb6ee5144cf68f0f61953987a","crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3516165326153666","idStr":"3516165326153666"},"content":"这个指数跟新兴市场指数不是同一个指数吧！","text":"这个指数跟新兴市场指数不是同一个指数吧！","html":"这个指数跟新兴市场指数不是同一个指数吧！"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":114999049,"gmtCreate":1623040476481,"gmtModify":1634095944496,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Will it reach 30 today!??Only&nbsp;positive news.Like and comment please!","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Will it reach 30 today!??Only&nbsp;positive news.Like and comment please!","text":"$Tiger Brokers(TIGR)$Will it reach 30 today!??Only positive news.Like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":0,"repostSize":1,"link":"https://laohu8.com/post/114999049","isVote":1,"tweetType":1,"viewCount":834,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117628813,"gmtCreate":1623139442732,"gmtModify":1634036540014,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/117628813","repostId":"1129979880","repostType":4,"isVote":1,"tweetType":1,"viewCount":668,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138739668,"gmtCreate":1621960555954,"gmtModify":1634185125796,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>冲上云霄！Like and Comment pls!","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>冲上云霄！Like and Comment pls!","text":"$Tiger Brokers(TIGR)$冲上云霄！Like and Comment pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/138739668","isVote":1,"tweetType":1,"viewCount":636,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":190512102,"gmtCreate":1620633432806,"gmtModify":1634197535410,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"Like!","listText":"Like!","text":"Like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/190512102","repostId":"1120120226","repostType":4,"repost":{"id":"1120120226","kind":"news","pubTimestamp":1620623863,"share":"https://www.laohu8.com/m/news/1120120226?lang=zh_CN&edition=full","pubTime":"2021-05-10 13:17","market":"us","language":"en","title":"US government declares emergency after cyberattack on major pipeline<blockquote>美国政府在主要管道遭到网络攻击后宣布进入紧急状态</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1120120226","media":"AFP","summary":"The US government declared a regional emergency Sunday as the largest fuel pipeline system in the Un","content":"<p>The US government declared a regional emergency Sunday as the largest fuel pipeline system in the United States remained largely shut down, two days after a major ransomware attack was detected.</p><p><blockquote>美国政府周日宣布进入地区紧急状态，因为在发现重大勒索软件攻击两天后，美国最大的燃料管道系统仍基本关闭。</blockquote></p><p>The Colonial Pipeline Company ships gasoline and jet fuel from the Gulf Coast of Texas to the populousEast Coastthrough 5,500 miles (8,850 kilometres) of pipeline, serving 50 million consumers.</p><p><blockquote>Colonial Pipeline Company通过5,500英里（8,850公里）的管道将汽油和喷气燃料从德克萨斯州墨西哥湾沿岸运送到人口稠密的东海岸，为5,000万消费者提供服务。</blockquote></p><p>The company said it was the victim of acybersecurity attackinvolving ransomware -- attacks that encrypt computer systems and seek to extract payments from operators.</p><p><blockquote>该公司表示，它是涉及勒索软件的网络安全攻击的受害者，这种攻击加密计算机系统并试图从运营商那里提取付款。</blockquote></p><p>\"This Declaration addresses the emergency conditions creating a need for immediate transportation of gasoline, diesel, jet fuel, and other refined petroleum products and provides necessary relief,\" the Department of Transportation said in a statement.</p><p><blockquote>美国交通部在一份声明中表示：“该声明解决了需要立即运输汽油、柴油、喷气燃料和其他精炼石油产品的紧急情况，并提供了必要的救济。”</blockquote></p><p>The emergency declaration allows for fuel to be transported by road to the affected states: Alabama, Arkansas, District of Columbia, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, New Jersey,New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas and Virginia.</p><p><blockquote>紧急声明允许燃料通过公路运输到受影响的州：阿拉巴马州、阿肯色州、哥伦比亚特区、特拉华州、佛罗里达州、佐治亚州、肯塔基州、路易斯安那州、马里兰州、密西西比州、新泽西州、纽约州、北卡罗来纳州、宾夕法尼亚州、南卡罗来纳州、田纳西州、德克萨斯州和弗吉尼亚州。</blockquote></p><p>The declaration also provides regulatory relief to commercial motor vehicle operations that are part of the emergency support efforts.</p><p><blockquote>该宣言还为作为紧急支持工作一部分的商业机动车辆运营提供了监管救济。</blockquote></p><p>Colonial said earlier Sunday that it had opened some smaller delivery lines, but the main system was not yet back up and running.</p><p><blockquote>Colonial周日早些时候表示，它已经开通了一些较小的输送线路，但主要系统尚未恢复运行。</blockquote></p><p>\"While our mainlines remain offline, some smaller lateral lines between terminals and delivery points are now operational,\" Colonial said in a statement, adding it would \"bring our full system back online only when we believe it is safe to do so.\"</p><p><blockquote>Colonial在一份声明中表示：“虽然我们的主线仍然离线，但航站楼和交付点之间的一些较小的支线现已投入运营。”他补充说，“只有在我们认为安全的情况下，我们的整个系统才会恢复上线。”</blockquote></p><p>\"We have remained in contact with law enforcement and other federal agencies, including the Department of Energy who is leading the Federal Government response,\" it added.</p><p><blockquote>它补充说：“我们一直与执法部门和其他联邦机构保持联系，包括领导联邦政府应对措施的能源部。”</blockquote></p><p>\"Maintaining the operational security of our pipeline, in addition to safely bringing our systems back online, remain our highest priorities.\"</p><p><blockquote>“除了安全地使我们的系统恢复在线之外，维护我们管道的运营安全仍然是我们的首要任务。”</blockquote></p><p><b>Calls for improved oversight</b></p><p><blockquote><b>改善监督的评级</b></blockquote></p><p>Commerce Secretary Gina Raimondo told CBS on Sunday that authorities were working to prevent any disruption to supplies.</p><p><blockquote>商务部长吉娜·雷蒙多周日告诉哥伦比亚广播公司，当局正在努力防止供应中断。</blockquote></p><p>Colonial, based in the southern state of Georgia, is the largest pipeline operator in the United States by volume, normally transporting 2.5 million barrels of gasoline, diesel fuel, jet fuel and other refined petroleum products per day.</p><p><blockquote>Colonial总部位于南部佐治亚州，是美国运量最大的管道运营商，通常每天运输250万桶汽油、柴油、喷气燃料和其他精炼石油产品。</blockquote></p><p>The attack prompted calls from cybersecurity experts for improved oversight of the industry to prepare for future threats.</p><p><blockquote>此次攻击促使网络安全专家发出评级，要求改善对该行业的监管，为未来的威胁做好准备。</blockquote></p><p>\"This attack is unusual for the US. But the bottom line is that attacks targeting operational technology -- the industrial control systems on the production line or plant floor -- are becoming more frequent,\" Algirde Pipikaite, cyber strategy lead at the World Economic Forum's Centre for Cybersecurity, told AFP on Saturday.</p><p><blockquote>世界经济论坛网络战略负责人阿尔吉德·皮皮凯特（Algirde Pipikaite）周六告诉法新社：“这次攻击对美国来说是不寻常的。但底线是，针对运营技术（生产线或工厂车间的工业控制系统）的攻击变得越来越频繁。”论坛网络安全中心。</blockquote></p><p>\"Unless cybersecurity measures are embedded in a technology's development phase, we are likely to see more frequent attacks on industrial systems like oil and gas pipelines or water treatment plants.\"</p><p><blockquote>“除非在技术的开发阶段嵌入网络安全措施，否则我们可能会看到石油和天然气管道或水处理厂等工业系统受到更频繁的攻击。”</blockquote></p><p>Gas prices jumped in the United States on Sunday following the ransomware attack. Analysts warn that prices could climb even higher if the pipeline is not reopened soon. Oil prices rose more than one percent Monday.</p><p><blockquote>勒索软件攻击后，周日美国汽油价格飙升。分析师警告说，如果管道不尽快重新开放，价格可能会攀升得更高。周一油价上涨超过1%。</blockquote></p><p>The United States was rocked in recent months by news of two major cybersecurity breaches -- the SolarWinds hack that compromised thousands of US government and private sector computer networks and was officially blamed on Russia; and a potentially devastating penetration of Microsoft email servers.</p><p><blockquote>最近几个月，两起重大网络安全漏洞的消息震惊了美国——网络安全管理软件产品黑客入侵了数千个美国政府和私营部门的计算机网络，并被官方归咎于俄罗斯；以及对微软电子邮件服务器的潜在毁灭性渗透。</blockquote></p><p></p>","source":"lsy1620623854247","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>US government declares emergency after cyberattack on major pipeline<blockquote>美国政府在主要管道遭到网络攻击后宣布进入紧急状态</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\">\nUS government declares emergency after cyberattack on major pipeline<blockquote>美国政府在主要管道遭到网络攻击后宣布进入紧急状态</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">AFP</strong><span class=\"h-time small\">2021-05-10 13:17</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The US government declared a regional emergency Sunday as the largest fuel pipeline system in the United States remained largely shut down, two days after a major ransomware attack was detected.</p><p><blockquote>美国政府周日宣布进入地区紧急状态，因为在发现重大勒索软件攻击两天后，美国最大的燃料管道系统仍基本关闭。</blockquote></p><p>The Colonial Pipeline Company ships gasoline and jet fuel from the Gulf Coast of Texas to the populousEast Coastthrough 5,500 miles (8,850 kilometres) of pipeline, serving 50 million consumers.</p><p><blockquote>Colonial Pipeline Company通过5,500英里（8,850公里）的管道将汽油和喷气燃料从德克萨斯州墨西哥湾沿岸运送到人口稠密的东海岸，为5,000万消费者提供服务。</blockquote></p><p>The company said it was the victim of acybersecurity attackinvolving ransomware -- attacks that encrypt computer systems and seek to extract payments from operators.</p><p><blockquote>该公司表示，它是涉及勒索软件的网络安全攻击的受害者，这种攻击加密计算机系统并试图从运营商那里提取付款。</blockquote></p><p>\"This Declaration addresses the emergency conditions creating a need for immediate transportation of gasoline, diesel, jet fuel, and other refined petroleum products and provides necessary relief,\" the Department of Transportation said in a statement.</p><p><blockquote>美国交通部在一份声明中表示：“该声明解决了需要立即运输汽油、柴油、喷气燃料和其他精炼石油产品的紧急情况，并提供了必要的救济。”</blockquote></p><p>The emergency declaration allows for fuel to be transported by road to the affected states: Alabama, Arkansas, District of Columbia, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, New Jersey,New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas and Virginia.</p><p><blockquote>紧急声明允许燃料通过公路运输到受影响的州：阿拉巴马州、阿肯色州、哥伦比亚特区、特拉华州、佛罗里达州、佐治亚州、肯塔基州、路易斯安那州、马里兰州、密西西比州、新泽西州、纽约州、北卡罗来纳州、宾夕法尼亚州、南卡罗来纳州、田纳西州、德克萨斯州和弗吉尼亚州。</blockquote></p><p>The declaration also provides regulatory relief to commercial motor vehicle operations that are part of the emergency support efforts.</p><p><blockquote>该宣言还为作为紧急支持工作一部分的商业机动车辆运营提供了监管救济。</blockquote></p><p>Colonial said earlier Sunday that it had opened some smaller delivery lines, but the main system was not yet back up and running.</p><p><blockquote>Colonial周日早些时候表示，它已经开通了一些较小的输送线路，但主要系统尚未恢复运行。</blockquote></p><p>\"While our mainlines remain offline, some smaller lateral lines between terminals and delivery points are now operational,\" Colonial said in a statement, adding it would \"bring our full system back online only when we believe it is safe to do so.\"</p><p><blockquote>Colonial在一份声明中表示：“虽然我们的主线仍然离线，但航站楼和交付点之间的一些较小的支线现已投入运营。”他补充说，“只有在我们认为安全的情况下，我们的整个系统才会恢复上线。”</blockquote></p><p>\"We have remained in contact with law enforcement and other federal agencies, including the Department of Energy who is leading the Federal Government response,\" it added.</p><p><blockquote>它补充说：“我们一直与执法部门和其他联邦机构保持联系，包括领导联邦政府应对措施的能源部。”</blockquote></p><p>\"Maintaining the operational security of our pipeline, in addition to safely bringing our systems back online, remain our highest priorities.\"</p><p><blockquote>“除了安全地使我们的系统恢复在线之外，维护我们管道的运营安全仍然是我们的首要任务。”</blockquote></p><p><b>Calls for improved oversight</b></p><p><blockquote><b>改善监督的评级</b></blockquote></p><p>Commerce Secretary Gina Raimondo told CBS on Sunday that authorities were working to prevent any disruption to supplies.</p><p><blockquote>商务部长吉娜·雷蒙多周日告诉哥伦比亚广播公司，当局正在努力防止供应中断。</blockquote></p><p>Colonial, based in the southern state of Georgia, is the largest pipeline operator in the United States by volume, normally transporting 2.5 million barrels of gasoline, diesel fuel, jet fuel and other refined petroleum products per day.</p><p><blockquote>Colonial总部位于南部佐治亚州，是美国运量最大的管道运营商，通常每天运输250万桶汽油、柴油、喷气燃料和其他精炼石油产品。</blockquote></p><p>The attack prompted calls from cybersecurity experts for improved oversight of the industry to prepare for future threats.</p><p><blockquote>此次攻击促使网络安全专家发出评级，要求改善对该行业的监管，为未来的威胁做好准备。</blockquote></p><p>\"This attack is unusual for the US. But the bottom line is that attacks targeting operational technology -- the industrial control systems on the production line or plant floor -- are becoming more frequent,\" Algirde Pipikaite, cyber strategy lead at the World Economic Forum's Centre for Cybersecurity, told AFP on Saturday.</p><p><blockquote>世界经济论坛网络战略负责人阿尔吉德·皮皮凯特（Algirde Pipikaite）周六告诉法新社：“这次攻击对美国来说是不寻常的。但底线是，针对运营技术（生产线或工厂车间的工业控制系统）的攻击变得越来越频繁。”论坛网络安全中心。</blockquote></p><p>\"Unless cybersecurity measures are embedded in a technology's development phase, we are likely to see more frequent attacks on industrial systems like oil and gas pipelines or water treatment plants.\"</p><p><blockquote>“除非在技术的开发阶段嵌入网络安全措施，否则我们可能会看到石油和天然气管道或水处理厂等工业系统受到更频繁的攻击。”</blockquote></p><p>Gas prices jumped in the United States on Sunday following the ransomware attack. Analysts warn that prices could climb even higher if the pipeline is not reopened soon. Oil prices rose more than one percent Monday.</p><p><blockquote>勒索软件攻击后，周日美国汽油价格飙升。分析师警告说，如果管道不尽快重新开放，价格可能会攀升得更高。周一油价上涨超过1%。</blockquote></p><p>The United States was rocked in recent months by news of two major cybersecurity breaches -- the SolarWinds hack that compromised thousands of US government and private sector computer networks and was officially blamed on Russia; and a potentially devastating penetration of Microsoft email servers.</p><p><blockquote>最近几个月，两起重大网络安全漏洞的消息震惊了美国——网络安全管理软件产品黑客入侵了数千个美国政府和私营部门的计算机网络，并被官方归咎于俄罗斯；以及对微软电子邮件服务器的潜在毁灭性渗透。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.france24.com/en/americas/20210510-biden-declares-state-of-emergency-after-major-us-pipeline-shut-due-to-cyber-attack\">AFP</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.france24.com/en/americas/20210510-biden-declares-state-of-emergency-after-major-us-pipeline-shut-due-to-cyber-attack","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120120226","content_text":"The US government declared a regional emergency Sunday as the largest fuel pipeline system in the United States remained largely shut down, two days after a major ransomware attack was detected.The Colonial Pipeline Company ships gasoline and jet fuel from the Gulf Coast of Texas to the populousEast Coastthrough 5,500 miles (8,850 kilometres) of pipeline, serving 50 million consumers.The company said it was the victim of acybersecurity attackinvolving ransomware -- attacks that encrypt computer systems and seek to extract payments from operators.\"This Declaration addresses the emergency conditions creating a need for immediate transportation of gasoline, diesel, jet fuel, and other refined petroleum products and provides necessary relief,\" the Department of Transportation said in a statement.The emergency declaration allows for fuel to be transported by road to the affected states: Alabama, Arkansas, District of Columbia, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, New Jersey,New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas and Virginia.The declaration also provides regulatory relief to commercial motor vehicle operations that are part of the emergency support efforts.Colonial said earlier Sunday that it had opened some smaller delivery lines, but the main system was not yet back up and running.\"While our mainlines remain offline, some smaller lateral lines between terminals and delivery points are now operational,\" Colonial said in a statement, adding it would \"bring our full system back online only when we believe it is safe to do so.\"\"We have remained in contact with law enforcement and other federal agencies, including the Department of Energy who is leading the Federal Government response,\" it added.\"Maintaining the operational security of our pipeline, in addition to safely bringing our systems back online, remain our highest priorities.\"Calls for improved oversightCommerce Secretary Gina Raimondo told CBS on Sunday that authorities were working to prevent any disruption to supplies.Colonial, based in the southern state of Georgia, is the largest pipeline operator in the United States by volume, normally transporting 2.5 million barrels of gasoline, diesel fuel, jet fuel and other refined petroleum products per day.The attack prompted calls from cybersecurity experts for improved oversight of the industry to prepare for future threats.\"This attack is unusual for the US. But the bottom line is that attacks targeting operational technology -- the industrial control systems on the production line or plant floor -- are becoming more frequent,\" Algirde Pipikaite, cyber strategy lead at the World Economic Forum's Centre for Cybersecurity, told AFP on Saturday.\"Unless cybersecurity measures are embedded in a technology's development phase, we are likely to see more frequent attacks on industrial systems like oil and gas pipelines or water treatment plants.\"Gas prices jumped in the United States on Sunday following the ransomware attack. Analysts warn that prices could climb even higher if the pipeline is not reopened soon. Oil prices rose more than one percent Monday.The United States was rocked in recent months by news of two major cybersecurity breaches -- the SolarWinds hack that compromised thousands of US government and private sector computer networks and was officially blamed on Russia; and a potentially devastating penetration of Microsoft email servers.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":452,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135782400,"gmtCreate":1622184906600,"gmtModify":1634183036224,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/135782400","repostId":"2138179599","repostType":4,"isVote":1,"tweetType":1,"viewCount":407,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":105021229,"gmtCreate":1620260416561,"gmtModify":1634206621386,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"Bull Bull Bull","listText":"Bull Bull Bull","text":"Bull Bull Bull","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/105021229","repostId":"1131387668","repostType":4,"repost":{"id":"1131387668","kind":"news","pubTimestamp":1620228331,"share":"https://www.laohu8.com/m/news/1131387668?lang=zh_CN&edition=full","pubTime":"2021-05-05 23:25","market":"us","language":"en","title":"This COVID-19 Vaccine Stock Quietly Soared 75% In April: Is There More Upside Ahead?<blockquote>这只COVID-19疫苗股在4月份悄然飙升75%：未来还有更多上涨空间吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1131387668","media":"benzinga","summary":"Shares ofBioNTech SE, which partnered withPfizer Inc. in successfully developing a vaccine against t","content":"<p><div> Shares ofBioNTech SE, which partnered withPfizer Inc. in successfully developing a vaccine against the coronavirus, have been gaining ground. BioNTech's Price Action:BioNTech and its partner ...</p><p><blockquote><div>BioNTech SE与辉瑞公司合作成功开发了针对冠状病毒的疫苗，其股价一直在上涨。BioNTech的价格走势：BioNTech及其合作伙伴...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead\">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>This COVID-19 Vaccine Stock Quietly Soared 75% In April: Is There More Upside Ahead?<blockquote>这只COVID-19疫苗股在4月份悄然飙升75%：未来还有更多上涨空间吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThis COVID-19 Vaccine Stock Quietly Soared 75% In April: Is There More Upside Ahead?<blockquote>这只COVID-19疫苗股在4月份悄然飙升75%：未来还有更多上涨空间吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-05-05 23:25</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Shares ofBioNTech SE, which partnered withPfizer Inc. in successfully developing a vaccine against the coronavirus, have been gaining ground. BioNTech's Price Action:BioNTech and its partner ...</p><p><blockquote><div>BioNTech SE与辉瑞公司合作成功开发了针对冠状病毒的疫苗，其股价一直在上涨。BioNTech的价格走势：BioNTech及其合作伙伴...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead\">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/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead\">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":{"BNTX":"BioNTech SE"},"source_url":"https://www.benzinga.com/general/biotech/21/05/20918917/this-covid-19-vaccine-stock-quietly-soared-75-in-april-is-there-more-upside-ahead","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131387668","content_text":"Shares ofBioNTech SE, which partnered withPfizer Inc. in successfully developing a vaccine against the coronavirus, have been gaining ground.\nBioNTech's Price Action:BioNTech and its partner Pfizerreceived in mid-Decemberauthorization for emergency use of the BNT162b2 mRNA vaccine against the novel coronavirus that causes COVID-19.\nBioNTech's shares, which rallied to a high of $131 ahead of the FDA decision, gave back part of the gains in a ‘buy-the-rumor, sell-the-news' move. The stock ended 2020 at $81.52, about 38% off the intraday high for the year.\nThe German vaccine maker's stock picked up momentum early in 2021, breaching the $100 psychological resistance level on Jan. 8 and trading in a $100-$120 range until early March.\nThe marketwide selloff in March did not spare BioNTech, with the stock dropping below $100 for a few sessions before climbing back again. The stock was locked in a lackluster phase until the end of March.\nCome April, the trend began to change. In the very first session of April, the stock rose over 4% and moved steadily higher through the month. In April alone, the stock added 72.4%.\nTo put things in perspective, if an investor had invested $1,000 in BioNTech shares at the end of March, their investment would now be worth $1,909.46 (using the intraday high of $207.55 hit on Monday). This would mean nearly doubling the investment in a span of a month.\nWhat's Behind The BioNTech Rally:The stock has been supported by the intermittent news flow regarding the company's vaccine.\nIn late March, the companies reported positive top-line results from a study evaluating the vaccine in adolescents.\nOn April 1, BioNTech and Pfizer reported data on BNT162b2 following six months of follow-up that confirmed its efficacy and safety.\nThe companies announced April 9 a request to the FDA to authorize expanded use of the vaccine in adolescents ages 12-15.\nThe FDA'sdecisionto temporarily pause the use ofJohnson & Johnson'sJNJ 0.2%vaccine also proved positive for BioNTech, which added about 7% on April 13 when the pause was announced.\nIn mid-April, the companies announced an agreement with the European Union to supply 100 million doses of BNT162b2, which is named Comirnaty in Europe, in 2021. With that, the total number of doses delivered to the EU is 600 million.\nLast week, a request was submitted to the EU to expand conditional marketing authorization to adolescents in the EU.\nWhat Lies Ahead For BioNTech Stock?BNT162b2 is expected to continue to boost BioNTech's top-line. Having delivered 200 million doses by the end of March, the company has signed orders for supplying 1.4 billion doses in 2021.\nPfizer and BioNTech plan to boost the manufacturing capacity for the vaccine to 2.5 billion doses by the end of 2021.\n\"BioNTech and Pfizer will be the standout leader in COVID-19 vaccination globally, with demand increasing for the 2.5Bn doses they are targeting to manufacture in 2021,\" SVB Leerink analyst Daina Graybosch said in a note.\nWith the second wave of the COVID-19 pandemic now sweeping across several nations, the companies have a lucrative opportunity. The companies have also proved the efficacy of the vaccine against variants.\nOnce the pandemic phase passes, the vaccine has scope for use in endemic setting.\nMore importantly, BioNTech is not a one-trick pony. The company has a broad oncology pipeline consisting of 13 product candidates.\nWeighing in all the opportunities, further upside in the stock cannot be ruled out.\nBNTX Price Action:At last check, BioNTech shares were rising 8.2% to $191.38.","news_type":1,"symbols_score_info":{"BNTX":0.9}},"isVote":1,"tweetType":1,"viewCount":329,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135782613,"gmtCreate":1622184893432,"gmtModify":1634183036450,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/135782613","repostId":"1148985369","repostType":4,"isVote":1,"tweetType":1,"viewCount":463,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117628699,"gmtCreate":1623139457311,"gmtModify":1634036539893,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/117628699","repostId":"1168188820","repostType":4,"repost":{"id":"1168188820","kind":"news","pubTimestamp":1623138527,"share":"https://www.laohu8.com/m/news/1168188820?lang=zh_CN&edition=full","pubTime":"2021-06-08 15:48","market":"us","language":"en","title":"Global investors are losing interest in U.S. stocks and that will be a game changer<blockquote>全球投资者对美股失去兴趣，这将改变游戏规则</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1168188820","media":"MarketWatch","summary":"The surge of money flowing into the U.S. market from around the world is not sustainable.\n\nFor some ","content":"<p>  <b>The surge of money flowing into the U.S. market from around the world is not sustainable.</b>  For some months now, the U.S. has looked exceptional compared to the rest of the world. Better COVID-19 vaccine rollout. Bigger fiscal policy push. Bolder reopening. Economic and market indicators showed this too. Consumption spiked well-above pre-pandemic levels and U.S. yields moved higher in anticipation of normalization. Investors put a huge bet on U.S. equities, with foreign investors accumulating U.S. stocks at unprecedented speed in 2020 and into 2021.</p><p><blockquote><b>从世界各地流入美国市场的资金激增是不可持续的。</b>几个月来，与世界其他地区相比，美国看起来很特别。更好的新冠肺炎疫苗推广。更大的财政政策推动。更大胆的重新开放。经济和市场指标也显示了这一点。消费飙升，远高于大流行前的水平，美国国债收益率因预期正常化而走高。投资者对美国股市下了巨大的赌注，外国投资者在2020年和2021年以前所未有的速度积累了美国股票。</blockquote></p><p> But cracks are forming in the U.S. exceptionalism narrative, and the money flow is at risk of a dramatic reversal.</p><p><blockquote>但美国例外论叙事正在形成裂痕，资金流动面临急剧逆转的风险。</blockquote></p><p> It is well-known that the economic recovery in the U.S. has been swift, and the debate has even shifted from strong growth towards overheating risk. But what is perhaps less known is how incredibly large the amount of money betting on a strong U.S. economic recovery has been.</p><p><blockquote>众所周知，美国经济复苏迅速，争论甚至从强劲增长转向过热风险。但也许鲜为人知的是，押注于美国经济强劲复苏的资金数额有多大。</blockquote></p><p> <b>Exceptionalism in money flow</b></p><p><blockquote><b>货币流动中的例外论</b></blockquote></p><p> The chart below shows foreign net equity inflow into the U.S. since 2000 based on balance of payment data. For several quarters, the U.S. attracted historically large equity inflows, with net foreign inflows of more than $400 billion in 2020.</p><p><blockquote>下图根据国际收支数据显示了自2000年以来流入美国的外国净股权。几个季度以来，美国吸引了历史上大量的股票流入，2020年外国净流入超过4000亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/25f6abf41a80e588613658d84ac1eaa3\" tg-width=\"1260\" tg-height=\"718\">The next chart shows the balance of payments data broken down into inflows (liabilities) and outflows (assets). It highlights that the inflows were the driving force of the large net numbers and that they accelerated during 2020.</p><p><blockquote>下图显示了细分为流入（负债）和流出（资产）的国际收支数据。它强调，资金流入是大量净流入的驱动力，并且在2020年期间加速。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0463f3dc176b8202dfd4ad7e06e93111\" tg-width=\"1260\" tg-height=\"672\">The foreign inflows in the fourth quarter of 2020 alone were &gt;$250bn (&gt;$1 trillion annualized) and in the region 5% of GDP. Even during the 1999-2001 dotcom bubble, we did not see many quarters above 2% of GDP.</p><p><blockquote>仅2020年第四季度的外国流入量就超过2500亿美元（年化超过1万亿美元），占该地区GDP的5%。即使在1999-2001年的互联网泡沫期间，我们也没有看到多少季度超过GDP的2%。</blockquote></p><p> U.S. exceptionalism also is illustrated in this next chart, which shows U.S. “market share” in total global cross-border equity flows. The U.S. has indeed been exceptional, grabbing close to all of the world’s recent gross-flow (some flows to specific countries can be negative).</p><p><blockquote>下一张图表也说明了美国的例外论，该图表显示了美国在全球跨境股权流动总额中的“市场份额”。美国确实是个例外，几乎占据了世界近期所有的总流量（一些流向特定国家的流量可能是负的）。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d6992f35f36732c19fa646d842483e53\" tg-width=\"1259\" tg-height=\"827\"><b>Exceptionalism is now in question</b></p><p><blockquote><b>例外论现在受到质疑</b></blockquote></p><p> Enough about the past. Where do investors stand now, and where are we heading? Many pieces of evidence show that investors are questioning the exceptionalism narrative and changing the direction of money flow:</p><p><blockquote>过去的事说够了。投资者现在的立场是什么，我们将走向何方？许多证据表明，投资者正在质疑例外论叙事，并改变资金流动方向：</blockquote></p><p> First, the latest official monthly data (the March TIC data) shows that foreign appetite for U.S. stocks is potentially waning in an important way. The strong momentum from 2020 continued into January and February 2021. But there was a big reversal in March.</p><p><blockquote>首先，最新的官方月度数据（3月份TIC数据）显示，外国对美国股市的兴趣可能正在以一种重要的方式减弱。2020年的强劲势头持续到2021年1月和2月。但3月份出现了大逆转。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cc43d90772a6546441d2f422afbe8887\" tg-width=\"1260\" tg-height=\"573\">Second, in a way this is all logical, since the rest of the world is catching up with the U.S. on the vaccine front. The chart below shows that the EU began to vaccinate more people (per capita) than the U.S. in May. Recently China has also surpassed the U.S. (and the EU). This means that other countries are quickly catching up in terms of immunity and economic reopening will follow shortly thereafter.</p><p><blockquote>其次，在某种程度上，这一切都是合乎逻辑的，因为世界其他地区正在疫苗方面赶上美国。下图显示，欧盟在5月份开始接种疫苗的人数（人均）超过了美国。最近中国也超过了美国（和欧盟）。这意味着其他国家在免疫力方面正在迅速赶上，此后不久将重新开放经济。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bf91e8b1846be8ba1f2c3df15589c716\" tg-width=\"1260\" tg-height=\"902\">Third, U.S. bond yields, which spiked in the first quarter of 2021, are no longer leading the global move higher in interest rates. The chart below shows how U.S.10-year TreasuryTMUBMUSD10Y,1.561%yield rose by 0.8 percentage points in the first quarter (gray bars), much more than European yields. But in the second quarter of 2021 (blue bars) the ranking is totally different. Yields in Europe are rising the most, while U.S. yields are declining.</p><p><blockquote>第三，2021年第一季度飙升的美国债券收益率不再引领全球利率走高。下图显示了美国10年期国债TMUBMUSD10Y, 1.561%收益率在第一季度上涨了0.8个百分点（灰色条），远高于欧洲收益率。但在2021年第二季度（蓝条），排名完全不同。欧洲的收益率上升幅度最大，而美国的收益率则在下降。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8c8cb07b7c832cf87fdf3ff2b1cd2176\" tg-width=\"1260\" tg-height=\"756\">Fourth, relative equity market performance is starting to flip. After a long period of structural U.S. equity market outperformance, U.S. leadership is in question. Relative to EurostoxxSXXE,0.15%(the index of the most liquid European stocks), the S&amp;P 500SPX,-0.08%has underperformed since October 2020. This could well have further to run, given valuation differences — and especially if technology stocks are a drag on the U.S. market.</p><p><blockquote>第四，股票市场的相对表现开始转变。在美国股市长期结构性表现优异后，美国的领导地位受到质疑。相对于EurostoxxSXXE, 0.15%（流动性最强的欧洲股票指数），标准普尔500SPX,-0.08%自2020年10月以来表现不佳。考虑到估值差异，这种情况很可能会进一步发展，特别是如果科技股拖累美国市场的话。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8d2d9bad697ba7ff1b24909132362c72\" tg-width=\"1260\" tg-height=\"752\">We can already observe a form of divergence between U.S. equity performance (erratic) and the underlying economic performance (still strong). The money flows make that picture more understandable: money flows into the U.S. equity market got so extended that some mean-reversion was inevitable.</p><p><blockquote>我们已经可以观察到美国股市表现（不稳定）和潜在经济表现（仍然强劲）之间的某种背离。资金流动让这种情况变得更容易理解：流入美国股市的资金如此之多，以至于某种均值回归是不可避免的。</blockquote></p><p></p><p> Less demand for U.S. equity products has implications for relative U.S. equity performance, and may also impact the U.S. dollar via the overall structure of balance of payment financing. This is a problem in the context of awidening current account deficit.</p><p><blockquote>对美国股票产品的需求减少会影响美国股票的相对表现，也可能通过国际收支融资的整体结构影响美元。在经常账户赤字不断扩大的背景下，这是一个问题。</blockquote></p><p> The U.S. has an exceptional fiscal stance and an exceptional current account position. If financing via equities is becoming less exceptional, something else will have to give.</p><p><blockquote>美国拥有特殊的财政状况和特殊的经常账户头寸。如果通过股票融资变得不那么特殊，就必须做出其他贡献。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Global investors are losing interest in U.S. stocks and that will be a game changer<blockquote>全球投资者对美股失去兴趣，这将改变游戏规则</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\">\nGlobal investors are losing interest in U.S. stocks and that will be a game changer<blockquote>全球投资者对美股失去兴趣，这将改变游戏规则</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-06-08 15:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>The surge of money flowing into the U.S. market from around the world is not sustainable.</b>  For some months now, the U.S. has looked exceptional compared to the rest of the world. Better COVID-19 vaccine rollout. Bigger fiscal policy push. Bolder reopening. Economic and market indicators showed this too. Consumption spiked well-above pre-pandemic levels and U.S. yields moved higher in anticipation of normalization. Investors put a huge bet on U.S. equities, with foreign investors accumulating U.S. stocks at unprecedented speed in 2020 and into 2021.</p><p><blockquote><b>从世界各地流入美国市场的资金激增是不可持续的。</b>几个月来，与世界其他地区相比，美国看起来很特别。更好的新冠肺炎疫苗推广。更大的财政政策推动。更大胆的重新开放。经济和市场指标也显示了这一点。消费飙升，远高于大流行前的水平，美国国债收益率因预期正常化而走高。投资者对美国股市下了巨大的赌注，外国投资者在2020年和2021年以前所未有的速度积累了美国股票。</blockquote></p><p> But cracks are forming in the U.S. exceptionalism narrative, and the money flow is at risk of a dramatic reversal.</p><p><blockquote>但美国例外论叙事正在形成裂痕，资金流动面临急剧逆转的风险。</blockquote></p><p> It is well-known that the economic recovery in the U.S. has been swift, and the debate has even shifted from strong growth towards overheating risk. But what is perhaps less known is how incredibly large the amount of money betting on a strong U.S. economic recovery has been.</p><p><blockquote>众所周知，美国经济复苏迅速，争论甚至从强劲增长转向过热风险。但也许鲜为人知的是，押注于美国经济强劲复苏的资金数额有多大。</blockquote></p><p> <b>Exceptionalism in money flow</b></p><p><blockquote><b>货币流动中的例外论</b></blockquote></p><p> The chart below shows foreign net equity inflow into the U.S. since 2000 based on balance of payment data. For several quarters, the U.S. attracted historically large equity inflows, with net foreign inflows of more than $400 billion in 2020.</p><p><blockquote>下图根据国际收支数据显示了自2000年以来流入美国的外国净股权。几个季度以来，美国吸引了历史上大量的股票流入，2020年外国净流入超过4000亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/25f6abf41a80e588613658d84ac1eaa3\" tg-width=\"1260\" tg-height=\"718\">The next chart shows the balance of payments data broken down into inflows (liabilities) and outflows (assets). It highlights that the inflows were the driving force of the large net numbers and that they accelerated during 2020.</p><p><blockquote>下图显示了细分为流入（负债）和流出（资产）的国际收支数据。它强调，资金流入是大量净流入的驱动力，并且在2020年期间加速。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0463f3dc176b8202dfd4ad7e06e93111\" tg-width=\"1260\" tg-height=\"672\">The foreign inflows in the fourth quarter of 2020 alone were &gt;$250bn (&gt;$1 trillion annualized) and in the region 5% of GDP. Even during the 1999-2001 dotcom bubble, we did not see many quarters above 2% of GDP.</p><p><blockquote>仅2020年第四季度的外国流入量就超过2500亿美元（年化超过1万亿美元），占该地区GDP的5%。即使在1999-2001年的互联网泡沫期间，我们也没有看到多少季度超过GDP的2%。</blockquote></p><p> U.S. exceptionalism also is illustrated in this next chart, which shows U.S. “market share” in total global cross-border equity flows. The U.S. has indeed been exceptional, grabbing close to all of the world’s recent gross-flow (some flows to specific countries can be negative).</p><p><blockquote>下一张图表也说明了美国的例外论，该图表显示了美国在全球跨境股权流动总额中的“市场份额”。美国确实是个例外，几乎占据了世界近期所有的总流量（一些流向特定国家的流量可能是负的）。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d6992f35f36732c19fa646d842483e53\" tg-width=\"1259\" tg-height=\"827\"><b>Exceptionalism is now in question</b></p><p><blockquote><b>例外论现在受到质疑</b></blockquote></p><p> Enough about the past. Where do investors stand now, and where are we heading? Many pieces of evidence show that investors are questioning the exceptionalism narrative and changing the direction of money flow:</p><p><blockquote>过去的事说够了。投资者现在的立场是什么，我们将走向何方？许多证据表明，投资者正在质疑例外论叙事，并改变资金流动方向：</blockquote></p><p> First, the latest official monthly data (the March TIC data) shows that foreign appetite for U.S. stocks is potentially waning in an important way. The strong momentum from 2020 continued into January and February 2021. But there was a big reversal in March.</p><p><blockquote>首先，最新的官方月度数据（3月份TIC数据）显示，外国对美国股市的兴趣可能正在以一种重要的方式减弱。2020年的强劲势头持续到2021年1月和2月。但3月份出现了大逆转。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cc43d90772a6546441d2f422afbe8887\" tg-width=\"1260\" tg-height=\"573\">Second, in a way this is all logical, since the rest of the world is catching up with the U.S. on the vaccine front. The chart below shows that the EU began to vaccinate more people (per capita) than the U.S. in May. Recently China has also surpassed the U.S. (and the EU). This means that other countries are quickly catching up in terms of immunity and economic reopening will follow shortly thereafter.</p><p><blockquote>其次，在某种程度上，这一切都是合乎逻辑的，因为世界其他地区正在疫苗方面赶上美国。下图显示，欧盟在5月份开始接种疫苗的人数（人均）超过了美国。最近中国也超过了美国（和欧盟）。这意味着其他国家在免疫力方面正在迅速赶上，此后不久将重新开放经济。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bf91e8b1846be8ba1f2c3df15589c716\" tg-width=\"1260\" tg-height=\"902\">Third, U.S. bond yields, which spiked in the first quarter of 2021, are no longer leading the global move higher in interest rates. The chart below shows how U.S.10-year TreasuryTMUBMUSD10Y,1.561%yield rose by 0.8 percentage points in the first quarter (gray bars), much more than European yields. But in the second quarter of 2021 (blue bars) the ranking is totally different. Yields in Europe are rising the most, while U.S. yields are declining.</p><p><blockquote>第三，2021年第一季度飙升的美国债券收益率不再引领全球利率走高。下图显示了美国10年期国债TMUBMUSD10Y, 1.561%收益率在第一季度上涨了0.8个百分点（灰色条），远高于欧洲收益率。但在2021年第二季度（蓝条），排名完全不同。欧洲的收益率上升幅度最大，而美国的收益率则在下降。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8c8cb07b7c832cf87fdf3ff2b1cd2176\" tg-width=\"1260\" tg-height=\"756\">Fourth, relative equity market performance is starting to flip. After a long period of structural U.S. equity market outperformance, U.S. leadership is in question. Relative to EurostoxxSXXE,0.15%(the index of the most liquid European stocks), the S&amp;P 500SPX,-0.08%has underperformed since October 2020. This could well have further to run, given valuation differences — and especially if technology stocks are a drag on the U.S. market.</p><p><blockquote>第四，股票市场的相对表现开始转变。在美国股市长期结构性表现优异后，美国的领导地位受到质疑。相对于EurostoxxSXXE, 0.15%（流动性最强的欧洲股票指数），标准普尔500SPX,-0.08%自2020年10月以来表现不佳。考虑到估值差异，这种情况很可能会进一步发展，特别是如果科技股拖累美国市场的话。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8d2d9bad697ba7ff1b24909132362c72\" tg-width=\"1260\" tg-height=\"752\">We can already observe a form of divergence between U.S. equity performance (erratic) and the underlying economic performance (still strong). The money flows make that picture more understandable: money flows into the U.S. equity market got so extended that some mean-reversion was inevitable.</p><p><blockquote>我们已经可以观察到美国股市表现（不稳定）和潜在经济表现（仍然强劲）之间的某种背离。资金流动让这种情况变得更容易理解：流入美国股市的资金如此之多，以至于某种均值回归是不可避免的。</blockquote></p><p></p><p> Less demand for U.S. equity products has implications for relative U.S. equity performance, and may also impact the U.S. dollar via the overall structure of balance of payment financing. This is a problem in the context of awidening current account deficit.</p><p><blockquote>对美国股票产品的需求减少会影响美国股票的相对表现，也可能通过国际收支融资的整体结构影响美元。在经常账户赤字不断扩大的背景下，这是一个问题。</blockquote></p><p> The U.S. has an exceptional fiscal stance and an exceptional current account position. If financing via equities is becoming less exceptional, something else will have to give.</p><p><blockquote>美国拥有特殊的财政状况和特殊的经常账户头寸。如果通过股票融资变得不那么特殊，就必须做出其他贡献。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/global-investors-enthusiasm-for-u-s-stocks-is-fading-and-that-will-be-a-game-changer-11623049201?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.marketwatch.com/story/global-investors-enthusiasm-for-u-s-stocks-is-fading-and-that-will-be-a-game-changer-11623049201?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168188820","content_text":"The surge of money flowing into the U.S. market from around the world is not sustainable.\n\nFor some months now, the U.S. has looked exceptional compared to the rest of the world. Better COVID-19 vaccine rollout. Bigger fiscal policy push. Bolder reopening. Economic and market indicators showed this too. Consumption spiked well-above pre-pandemic levels and U.S. yields moved higher in anticipation of normalization. Investors put a huge bet on U.S. equities, with foreign investors accumulating U.S. stocks at unprecedented speed in 2020 and into 2021.\nBut cracks are forming in the U.S. exceptionalism narrative, and the money flow is at risk of a dramatic reversal.\nIt is well-known that the economic recovery in the U.S. has been swift, and the debate has even shifted from strong growth towards overheating risk. But what is perhaps less known is how incredibly large the amount of money betting on a strong U.S. economic recovery has been.\nExceptionalism in money flow\nThe chart below shows foreign net equity inflow into the U.S. since 2000 based on balance of payment data. For several quarters, the U.S. attracted historically large equity inflows, with net foreign inflows of more than $400 billion in 2020.\nThe next chart shows the balance of payments data broken down into inflows (liabilities) and outflows (assets). It highlights that the inflows were the driving force of the large net numbers and that they accelerated during 2020.\nThe foreign inflows in the fourth quarter of 2020 alone were >$250bn (>$1 trillion annualized) and in the region 5% of GDP. Even during the 1999-2001 dotcom bubble, we did not see many quarters above 2% of GDP.\nU.S. exceptionalism also is illustrated in this next chart, which shows U.S. “market share” in total global cross-border equity flows. The U.S. has indeed been exceptional, grabbing close to all of the world’s recent gross-flow (some flows to specific countries can be negative).\nExceptionalism is now in question\nEnough about the past. Where do investors stand now, and where are we heading? Many pieces of evidence show that investors are questioning the exceptionalism narrative and changing the direction of money flow:\nFirst, the latest official monthly data (the March TIC data) shows that foreign appetite for U.S. stocks is potentially waning in an important way. The strong momentum from 2020 continued into January and February 2021. But there was a big reversal in March.\nSecond, in a way this is all logical, since the rest of the world is catching up with the U.S. on the vaccine front. The chart below shows that the EU began to vaccinate more people (per capita) than the U.S. in May. Recently China has also surpassed the U.S. (and the EU). This means that other countries are quickly catching up in terms of immunity and economic reopening will follow shortly thereafter.\nThird, U.S. bond yields, which spiked in the first quarter of 2021, are no longer leading the global move higher in interest rates. The chart below shows how U.S.10-year TreasuryTMUBMUSD10Y,1.561%yield rose by 0.8 percentage points in the first quarter (gray bars), much more than European yields. But in the second quarter of 2021 (blue bars) the ranking is totally different. Yields in Europe are rising the most, while U.S. yields are declining.\nFourth, relative equity market performance is starting to flip. After a long period of structural U.S. equity market outperformance, U.S. leadership is in question. Relative to EurostoxxSXXE,0.15%(the index of the most liquid European stocks), the S&P 500SPX,-0.08%has underperformed since October 2020. This could well have further to run, given valuation differences — and especially if technology stocks are a drag on the U.S. market.\nWe can already observe a form of divergence between U.S. equity performance (erratic) and the underlying economic performance (still strong). The money flows make that picture more understandable: money flows into the U.S. equity market got so extended that some mean-reversion was inevitable.\nLess demand for U.S. equity products has implications for relative U.S. equity performance, and may also impact the U.S. dollar via the overall structure of balance of payment financing. This is a problem in the context of awidening current account deficit.\nThe U.S. has an exceptional fiscal stance and an exceptional current account position. If financing via equities is becoming less exceptional, something else will have to give.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,"SPY":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":647,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":193466366,"gmtCreate":1620810923455,"gmtModify":1634196132068,"author":{"id":"3575151665324875","authorId":"3575151665324875","name":"Ken林","avatar":"https://static.tigerbbs.com/182bd9338d948995598e2123e264e624","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575151665324875","idStr":"3575151665324875"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Come on&nbsp;Tiger! We will all be sending u some bullish supplements!&nbsp;Like and Comment pls!","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Come on&nbsp;Tiger! We will all be sending u some bullish supplements!&nbsp;Like and Comment pls!","text":"$Tiger Brokers(TIGR)$Come on Tiger! We will all be sending u some bullish supplements! Like and Comment pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/193466366","isVote":1,"tweetType":1,"viewCount":240,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}