<p>STOXX 600 上涨 0.4%</p>
<p>帝亚吉欧在业绩公布后上涨</p>
<p>华尔街期货小幅上涨 欢迎来到路透社记者为您带来的实时市场报道。您可以与我们分享您的想法，</p>
<h3>当美联储降息时，屋顶上升：BCA 大举押注房地产</h3>
<p>房地产再次受到关注，至少根据 BCA Research 的首席美国股票策略师 Irene Tunkel 的说法，她已将该行业评级上调至超配，理由是降息即将到来，存在 “明确的反弹催化剂”。根据 CME 的 FedWatch 工具，市场预计美联储将在 9 月的会议上至少降息 25 个基点，预期几乎达到了 90%，而一周前约为 60%。</p>
<p>“货币宽松是反弹的一个受欢迎的催化剂，因为该行业目前被超卖且被低估。” Tunkel 补充道。</p>
<p>房地产是市场上对利率最敏感的行业之一，因为较低的利率降低了抵押贷款成本，提升了住房需求，并增加了房地产投资信托作为收入生成资产的吸引力。</p>
<p>房地产在年初至今的表现落后于整体市场，但收益率下降和估值降低为追赶反弹奠定了基础。BCA 的专有指标显示该行业 “便宜且被超卖”，Tunkel 补充道。</p>
<p>与此同时，该公司正在锁定科技股的收益。在半导体今年飙升 30% 之后，BCA 已将该行业评级下调至中性。</p>
<p>“半导体现在被高估，” Tunkel 说，并指出该公司正在结束其超配，并相对于标准普尔 500 指数实现 18.7% 的利润。</p>
<p>季节性也是一个因素。“市场通常在 8 月和 9 月回调，” 她警告说，建议即使生成性人工智能的长期前景依然稳固，采取战术性暂停也是明智的。</p>
<p>（Rashika Singh）</p>
<h3>现在是对欧元区银行进行对冲的时机：点击这里</h3>
<h3>周二早些时候的实时市场帖子：</h3>
<h3>拥挤的交易，薄冰：KAIROS 关注 5–8% 的回调 点击这里</h3>
<h3>STOXX 600 继续谨慎反弹 点击这里</h3>
<h3>欧洲开盘前：反弹持续 点击这里</h3>
<h3>坏消息对渴望美联储 “火箭燃料” 的市场来说是好消息 点击这里</h3>

AOMR

<p>BCA Research 已将房地产行业评级上调至增持，预计随着美联储预计将至少降息 25 个基点，行业将迎来反弹。首席美国股票策略师 Irene Tunkel 指出，较低的利率将降低抵押贷款成本并提升住房需求，使房地产更具吸引力。目前该行业被视为超卖和被低估。相比之下，BCA 在经历了一波显著反弹后，将半导体行业评级下调至中性，理由是高估值和季节性市场回调</p>

<p>STOXX 600 up 0.4%</p>
<div class="lb-trans"><p>STOXX 600 上涨 0.4%</p>
</div><p>Diageo rises after results</p>
<div class="lb-trans"><p>帝亚吉欧在业绩公布后上涨</p>
</div><p>Wall St futures edge up Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at</p>
<div class="lb-trans"><p>华尔街期货小幅上涨 欢迎来到路透社记者为您带来的实时市场报道。您可以与我们分享您的想法，</p>
</div><h3>WHEN THE FED CUTS, THE ROOF RISES: BCA BETS BIG ON REAL ESTATE</h3>
<div class="lb-trans"><h3>当美联储降息时，屋顶上升：BCA 大举押注房地产</h3>
</div><p>Real estate is back in vogue, at least according to Irene Tunkel, chief U.S. equity strategist at BCA Research, who has upgraded the sector to overweight, citing a “clear catalyst for a rebound” as rate cuts loom. Market expectations the Fed will cut rates by at least 25 basis points at its September meeting stood at almost 90%, according to CME’s FedWatch Tool, up from about 60% a week ago.</p>
<div class="lb-trans"><p>房地产再次受到关注，至少根据 BCA Research 的首席美国股票策略师 Irene Tunkel 的说法，她已将该行业评级上调至超配，理由是降息即将到来，存在 “明确的反弹催化剂”。根据 CME 的 FedWatch 工具，市场预计美联储将在 9 月的会议上至少降息 25 个基点，预期几乎达到了 90%，而一周前约为 60%。</p>
</div><p>“Monetary easing is a welcome catalyst for a rebound, as the sector is currently oversold and undervalued.” Tunkel added</p>
<div class="lb-trans"><p>“货币宽松是反弹的一个受欢迎的催化剂，因为该行业目前被超卖且被低估。” Tunkel 补充道。</p>
</div><p>Real estate is one of the most rate-sensitive sectors in the market as lower interest rates reduce mortgage costs, boost housing demand, and increase the attractiveness of REITs as income-generating assets.</p>
<div class="lb-trans"><p>房地产是市场上对利率最敏感的行业之一，因为较低的利率降低了抵押贷款成本，提升了住房需求，并增加了房地产投资信托作为收入生成资产的吸引力。</p>
</div><p>Real estate has lagged the broader market year-to-date, but falling yields and cheaper valuations are setting the stage for a catch-up rally. BCA’s proprietary indicators show the sector is both “cheap and oversold,” Tunkel added.</p>
<div class="lb-trans"><p>房地产在年初至今的表现落后于整体市场，但收益率下降和估值降低为追赶反弹奠定了基础。BCA 的专有指标显示该行业 “便宜且被超卖”，Tunkel 补充道。</p>
</div><p>Meanwhile, the firm is locking in gains on tech. After a blistering 30% rally in semiconductors this year, BCA has downgraded the sector to neutral.</p>
<div class="lb-trans"><p>与此同时，该公司正在锁定科技股的收益。在半导体今年飙升 30% 之后，BCA 已将该行业评级下调至中性。</p>
</div><p>“Semiconductors are now overbought,” Tunkel said, noting that the firm is closing its overweight and booking an 18.7% profit relative to the S&amp;P 500.</p>
<div class="lb-trans"><p>“半导体现在被高估，” Tunkel 说，并指出该公司正在结束其超配，并相对于标准普尔 500 指数实现 18.7% 的利润。</p>
</div><p>Seasonality is also a factor. “Markets often pull back in August and September,” she warned, suggesting that a tactical pause is prudent even as the long-term case for generative AI remains intact.</p>
<div class="lb-trans"><p>季节性也是一个因素。“市场通常在 8 月和 9 月回调，” 她警告说，建议即使生成性人工智能的长期前景依然稳固，采取战术性暂停也是明智的。</p>
</div><p>(Rashika Singh)</p>
<div class="lb-trans"><p>（Rashika Singh）</p>
</div><h3>TIME TO HEDGE EXPOSURE TO EURO ZONE BANKS: CLICK HERE</h3>
<div class="lb-trans"><h3>现在是对欧元区银行进行对冲的时机：点击这里</h3>
</div><h3>TUESDAY’S EARLIER LIVE MARKETS POSTS:</h3>
<div class="lb-trans"><h3>周二早些时候的实时市场帖子：</h3>
</div><h3>CROWDED TRADES, THIN ICE: KAIROS EYES 5–8% PULLBACK CLICK HERE</h3>
<div class="lb-trans"><h3>拥挤的交易，薄冰：KAIROS 关注 5–8% 的回调 点击这里</h3>
</div><h3>STOXX 600 CONTINUES CAUTIOUS REBOUND CLICK HERE</h3>
<div class="lb-trans"><h3>STOXX 600 继续谨慎反弹 点击这里</h3>
</div><h3>EUROPE BEFORE THE BELL: THE COMEBACK CONTINUES CLICK HERE</h3>
<div class="lb-trans"><h3>欧洲开盘前：反弹持续 点击这里</h3>
</div><h3>BAD NEWS IS GOOD NEWS FOR MARKETS CRAVING FED ‘ROCKET FUEL’ CLICK HERE</h3>
<div class="lb-trans"><h3>坏消息对渴望美联储 “火箭燃料” 的市场来说是好消息 点击这里</h3>
</div>

实时市场 - 美联储降息时，房价上涨：BCA 在房地产领域下注巨大