洪灝:市场确认了一个重要的拐点(Market Inflection Point is C( 五 )

Beingthelastbeneficiaryofmonetaryeasing,andthefirstinlineasthecasualtyofbubbles,the“proletariat”shouldhaveotherconcerns.Butthebullmarkethasarrived,andthefearofmissingoutontherallyisstrongerthanthatofbeingleftholdingthebag.

TheDisappearingMacroVolatility

Macrovolatilitydeclinesacrosstheboard,exceptPPI.Toanswerthequestionsfromtheaudience,weinvestigatednumerousmacrovariables.Duringtheprocess,oneprominentphenomenonispalpableacrosstheboard–thevolatilityinmanymacrovariableshascollapsedcirca2010-11,rightafterQE–exceptPPI.Wearepuzzledbyitscause,andtherepercussions.

Wecanshowsuchcollapseinvolatilityacrossvariousmacrovariables,includingGDPgrowth,EPSgrowth,CPI,VAIandmarketvolatility,amongstmanyothers.(Forillustrationpurpose,Figure1showsonlythevolatilityofPPI,CPIandVAI).

Figure1:Macrovolatilityhascollapsedsince~2010/11acrossvariables,exceptPPI

洪灝:市场确认了一个重要的拐点(Market Inflection Point is C

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本文原始标题为:洪灝:市场确认了一个重要的拐点(Market Inflection Point is Confirmed)---来源是:

本文原始标题为:洪灝:市场确认了一个重要的拐点(Market Inflection Point is Confirmed)---来源是:


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