Fan Bing, an e-fund: how to look at the sharp decline of US stocks and the gold callback?

category:Finance
 Fan Bing, an e-fund: how to look at the sharp decline of US stocks and the gold callback?


How to look forward to the next stage? In Fan Bings view, the main problem of US stocks is valuation. One of the most important buyer forces in the market is corporate debt repo. The decline of interest rate and treasury bond yield - debt repo of listed companies - improvement of EPS and roe levels - market value maintenance - large capital allocation, which is very sensitive to the change of US interest rate. At present, the yield of us 10-year Treasury bonds has dropped to the lowest level in history, and the probability of the futures market judging the Feds interest rate cut in March has reached 100%.

Based on the historical experience of the previous analysis, if it is judged that the impact of the epidemic on the world will not be higher than that of the financial crisis in 2008, and the U He said that in the medium and long term, the analysis framework of gold investment value is still based on commodity attribute, monetary attribute and financial attribute. Factors such as global monetary easing and increasing debt, weakening US dollar and US real interest rate, and global geopolitical deterioration will still benefit gold and make it an important part of asset allocation.