Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day. Chapters: 00:00:00 - Bloomberg Surveillance starts 00:03:41 - Russ Koesterich, BlackRock Global Allocation Fund 00:18:29 - Momei Qu, PSP Growth 00:32:02 - Terry Haines, Pangaea Policy 00:40:45 - Stephen Juneau, Bank of America Securities 00:51:46 - Dan Skelly, Morgan Stanley Wealth Manageme ...

突出的扩张倾向 奥村茂三郎："最想推进的政策是负责任的积极财政"，在自民党获得历史性大胜之后，高市明确表态。 由于过去的财政纪律松弛，日本政府债务在G7中表现最差。此次的整个选战中，高市一直攻击此前的 财政运营"过度追求紧缩"…… 奥村茂三郎： "最想推进的政策是负责任的积极财政"，在日本自民党获得众议院选举历史性大胜的2月 8日晚间，日本首相高市早苗针对"可能引发国内舆论陷入分裂的大胆政策"做出了明确表态。鉴于日本 长期利率上升和日元贬值加剧等市场信号，高市早苗如今需要承担更为沉重的说明责任。 高市在此次的整个选战中，一直攻击此前的财政运营是"过度的追求紧缩"。市场上有声音对这一看法表 示担忧。 在通胀下，作为增加实际收入的对策，有呼声要求减税可以理解。不过，由50名经济学家组成 的"Economics Panel"中，认为"对日本经济负面影响大"的观点高达88%。为避免陷入"减税民粹主义"， 期待日本朝野各党进行深入讨论。 应避免危机 日本的财政曾长期处于扩张状态。国际货币基金组织（IMF）的数据显示，由于过去的财政纪律松弛， 2025年日本政府债务余额占GDP（国内生产总值）的比例达到229%。在其他七 ...

全球贵金属市场在上周五经历了一场历史性的暴跌，白银单日重挫近30%，黄金也大幅回撤。 尽管跌幅惊人，但多家华尔街投行分析师认为，这是一场由过度拥挤的持仓和保证金上调引发的技术性 出清，而非基本面逻辑的根本性逆转。 市场数据显示，iShares Silver Trust上周五下跌28.5%至75.44美元，创下有史以来最大单日跌幅；SPDR Gold Shares下跌10.3%至444.95美元。 据高盛交易部门观察，白银的波动率飙升至仅在全球金融危机最严重时期和新冠疫情封锁期间才出现过 的极端水平，其ETF名义交易量超过320亿美元。 该行在周日的研究报告中写道，黄金仍是一个动态的、多层面的投资组合对冲工具，央行和投资者的需 求依然强于预期。摩根大通预测，在央行购金和投资者需求的推动下，金价将在2026年年底达到每盎司 6,300美元。尽管金价越高"空气越稀薄"，但结构性反弹并未面临崩盘风险。 摩根大通目前预测，2026年各国央行的黄金购买量将达到800吨，理由是外汇储备多元化的趋势正在持 续不断。 相比之下，摩根大通对白银持"更加谨慎"的态度。分析师指出，白银近期上涨的驱动因素难以量化，且 缺乏像央行那样明 ...

全球贵金属市场在上周五经历了一场历史性的暴跌，白银单日重挫近30%，黄金也大幅回撤。 尽管跌幅惊人，但多家华尔街投行分析师认为，这是一场由过度拥挤的持仓和保证金上调引发的技术性出清，而非基本面逻辑的根本性逆转。 市场数据显示，iShares Silver Trust上周五下跌28.5%至75.44美元，创下有史以来最大单日跌幅；SPDR Gold Shares下跌10.3%至444.95美元。 据高盛交易部门观察， 白银的波动率飙升至仅在全球金融危机最严重时期和新冠疫情封锁期间才出现过的极端水平，其ETF名义交易量超过320亿美元。 此次暴跌的直接导火索是芝加哥商品交易所在周五收盘前宣布上调保证金要求，这迫使大量杠杆资金在周末前平仓。 同时，随着美国总统特朗普提名沃什为下 一任美联储主席，美元的反弹也对金属价格构成了压力。 尽管价格出现剧烈修正，但机构分析师并未恐慌。Yardeni Research指出，主要ETF的交易量并未显示出恐慌性抛售的迹象。摩根大通则重申了对黄金中期走 势的坚定看涨立场， 认为在实物资产跑赢纸面资产的机制下，黄金仍是有效的投资组合对冲工具。 摩根大通：坚定看多黄金，对白银更谨慎 由摩 ...

全球贵金属市场在上周五经历了一场历史性的暴跌，白银单日重挫近30%，黄金也大幅回撤。尽管跌幅惊人，但多家华尔街投行分析师认为，这 是一场由过度拥挤的持仓和保证金上调引发的技术性出清，而非基本面逻辑的根本性逆转。 市场数据显示，iShares Silver Trust上周五下跌28.5%至75.44美元，创下有史以来最大单日跌幅；SPDR Gold Shares下跌10.3%至444.95美元。据高 盛交易部门观察，白银的波动率飙升至仅在全球金融危机最严重时期和新冠疫情封锁期间才出现过的极端水平，其ETF名义交易量超过320亿美 元。 此次暴跌的直接导火索是芝加哥商品交易所在周五收盘前宣布上调保证金要求，这迫使大量杠杆资金在周末前平仓。同时，随着美国总统特朗普 提名沃什为下一任美联储主席，美元的反弹也对金属价格构成了压力。 尽管价格出现剧烈修正，但机构分析师并未恐慌。Yardeni Research指出，主要ETF的交易量并未显示出恐慌性抛售的迹象。摩根大通则重申了对 黄金中期走势的坚定看涨立场，认为在实物资产跑赢纸面资产的机制下，黄金仍是有效的投资组合对冲工具。 摩根大通：坚定看多黄金，对白银更谨慎 由Gre ...

Group 1 - The market reacted calmly to President Trump's nomination of Kevin Walsh as the next Federal Reserve Chairman, which is seen as a victory given Trump's history of creating policy uncertainty [1] - Following the announcement, the S&P 500 index fell approximately 0.4%, and the 10-year Treasury yield slightly increased to 4.242%, indicating a cautious market sentiment [1] - Gold and silver, which had recently risen due to monetary policy uncertainty, experienced significant declines, with silver dropping over 25% [1] Group 2 - Walsh's policy stance is viewed as ambiguous on Wall Street; he is often seen as hawkish but has criticized Powell, leading to mixed interpretations of his future policy direction [2] - Some market participants expect Walsh to implement two to three rate cuts this year, suggesting that his leadership may not differ significantly from other candidates [2] - Walsh advocates for a smaller balance sheet for the Fed and has criticized quantitative easing for inflating asset prices without improving wage growth [2] Group 3 - Analysts suggest that Trump may have chosen a candidate more acceptable to Wall Street to reduce confirmation uncertainties, especially given recent tensions with Powell and ongoing investigations [3] - Trump's nomination of Walsh may signal an attempt to lower resistance while maintaining the independence of the Federal Reserve [3] - There are concerns that Trump may express dissatisfaction with Walsh in the future, similar to his previous criticisms of Powell [3]

在地缘政治摩擦加剧与贸易保护主义阴云的笼罩下，黄金价格正以惊人的势头突破历史高位，5000美元关口已触手可及。 周三，现货黄金价格强势站上4880美元/盎司，日内涨幅达2.46%，续创历史新高。这一最新涨势的直接导火索来自白宫针对格陵兰岛的关税威 胁，此举重燃了市场对全球贸易战的担忧，迫使投资者在日益不确定的国际局势中寻求安全港湾。截至发稿，现货黄金回落至4860美元/盎司。 继2025年创下超60%的历史性涨幅后，黄金在2026年开局动能不减。分析人士指出，地缘政治紧张局势、实际利率下行、以及央行与私人投资者 持续的"去美元化"多元配置策略，正共同构成支撑金价上行的核心逻辑。市场普遍认为，在当前宏观背景下，黄金作为"终极避险资产"的角色依 然稳固。 面对这一轮凌厉的攻势，全球金融机构与市场观察人士正在重新校准预期，讨论的焦点已大幅上移，关于金价迈向6000美元、7000美元乃至10000 美元的呼声日益高涨，凸显了在动荡宏观环境下，黄金作为战略性避险资产的地位正被前所未有地强化。 市场预期重估：从7000美元到"咆哮的"10000美元 面对金价的强劲表现，分析师和机构的预测变得愈发激进。LBMA的一项调查显 ...

Group 1 - The core viewpoint of the articles highlights the surge in gold prices due to escalating geopolitical risks, with gold reaching a historical high of over $4600 per ounce, and predictions of further increases in the coming years [3] - The Huabao Nonferrous ETF (159876) has seen significant inflows, with a net subscription of 15 million units and a total of 331 million yuan in the last 10 days, indicating strong investor interest [1][3] - Major stocks within the nonferrous sector, such as Zhongjin Rare Earth and Shengxin Lithium Energy, have experienced notable price increases, reflecting the overall bullish sentiment in the market [1][3] Group 2 - Goldman Sachs forecasts that gold prices will rise to $4900 per ounce by the end of 2026, while Yardeni Research has raised its long-term gold price target from $5000 to $6000 per ounce, with a potential peak of $10000 per ounce by the end of the decade [3] - The nonferrous ETF Huabao covers a wide range of metals including copper, aluminum, gold, rare earths, and lithium, allowing investors to capture the beta performance across different market cycles [4] - The market outlook suggests that due to loose liquidity, frequent supply disruptions, and strong structural demand, various metals including copper, aluminum, and battery metals are expected to continue their upward trend [3]

Group 1 - The core viewpoint of the news is that spot gold prices have surged to a new historical high of $4550 per ounce, marking a significant increase of over 0.9% [1][2] - As of the latest update, spot silver has also seen a notable rise, increasing by 2.8% [1][2] - Goldman Sachs has projected that gold prices will reach $4900 per ounce by the end of 2026, while Yardeni Research has raised its forecast for gold prices to $6000 per ounce by the same date, emphasizing strong market trends driven by macroeconomic and policy concerns [4] Group 2 - UBS has indicated that demand for gold from central banks and investors remains near historical highs, forecasting global central bank gold purchases to reach between 900 to 950 metric tons this year [4]

Group 1 - The core viewpoint of the article highlights the recent surge in gold prices, with spot gold breaking through $4,550 per ounce, marking a new historical high after two weeks [1] - Spot silver also saw significant gains, increasing by 2.8% [1] - Goldman Sachs projected that gold prices will rise to $4,900 per ounce by the end of 2026, while Yardeni Research raised its forecast for gold prices to $6,000 per ounce by the end of 2026, emphasizing strong market trends driven by macroeconomic and policy concerns [4] Group 2 - UBS noted that demand for gold from central banks and investors remains near historical highs, estimating global central bank gold purchases to reach between 900 to 950 metric tons this year [4] - The article mentions that the recent price movements in gold and silver reflect broader market sentiments and economic uncertainties rather than a rebound in global economic activity [4]