<p>尽管市场的关注主要集中在技术生态系统等重大新闻上，但美联储对货币政策的转变值得仔细考虑。上个月，中央银行将基准利率下调了 25 个基点，结束了为期九个月的政策暂停，这一举措在预期之中。展望未来，这一决定可能对金融企业产生重大影响。</p>
<p>随着借贷成本的降低，潜在环境可能会加剧通货膨胀——这已经对消费者和各个行业构成挑战。毫不奇怪，黄金价格飙升，直接受益于避险需求。此外，市场资深人士 Ed Yardeni 认为，黄金价格可能在明年某个时候达到 5000 美元，并可能在 2030 年达到 10000 美元。</p>
<p>Yardeni 并不是唯一一个看涨黄金的人，经济学家 Peter Schiff 也表示，黄金的最终上涨目标为 20000 美元。支撑这种乐观情绪的主要因素是美国美元的相对价值将持续下降。因此，黄金价格应该会进一步上涨，为金融股票带来有趣的动态。</p>
<p>在短期内，鸽派货币政策可能对金融相关行业产生看跌影响，因为净利差会受到压缩。由于银行通过存款人支付的利息与借款人收取的利息之间的差额来获利，降低的美联储利率将缩小这一差额。因此，压缩可能会减少净利息收入，而净利息收入是大多数银行的核心利润驱动因素。</p>
<p>或许并不令人意外，金融选择行业指数在过去一个月下跌超过 2%。此外，从年初至今，该指数仅上涨 9%，明显落后于基准标准普尔 500 指数。</p>
<p>另一方面，宽松的货币政策可能对某些增长行业产生看涨影响，这反过来可能会增强各种金融机构的财务表现。此外，降低的借贷成本应该会因减少障碍的刺激效应而对贷款需求产生积极影响。因此，从长远来看——假设美联储等因素的适当引导——鸽派政策可能对金融行业是一个净积极因素。</p>
<p><strong>Direxion ETF：</strong> 由于基础行业的动态，想要在两种立场上进行投机的交易者可以通过 Direxion 的超杠杆交易所交易基金来实现。对于乐观者，<strong>Direxion Daily Financial Bull 3x Shares</strong>（NYSE:FAS）为那些有最大上涨信心的人提供了一个平台。另一方面，悲观者可以考虑 <strong>Direxion Daily Financial Bear 3x Shares</strong>（NYSE:FAZ）。</p>
<p>这两只 ETF 跟踪金融选择行业指数的表现（或反向表现）。当然，作为 300% 杠杆的工具，交易者在参与之前必须极其谨慎和谨慎。虽然收益可能非常可观，但损失也可能同样陡峭。</p>
<p>主要而言，FAS 和 FAZ ETF 的目的是提供一个便捷的投机机制。通过 3 倍基金，交易者可以绕过期权市场进行杠杆或看跌的押注。ETF 份额（或更准确地说，单位）交易方式与标准的公开交易证券类似。这一熟悉的过程有助于减轻学习曲线。</p>
<p>除了极端的市场风险外，潜在参与者还应注意，杠杆和反向 ETF——尤其是 3 倍类型——绝不应持有超过一天。结构上，原因在于波动性侵蚀，收益可能因每日复利效应而偏离预期。</p>
<p><strong>FAS ETF：</strong> 自年初以来，FAS ETF 上涨了近 10%。在过去六个月中，牛市基金上涨了近 44%。</p>
<ul>
<li>尽管 FAS ETF 的整体趋势强劲，但牛市基金遭遇了严重阻力，这令人担忧。</li>
<li>目前，价格走势位于 200 日移动平均线之上，但低于 50 日移动平均线。因此，牛市必须在此处重新掌控，以防止进一步的技术损害。</li>
</ul>
<p><strong>FAZ ETF：</strong> 在另一边，FAZ ETF 下跌了大约 33%。在过去的半年中，反向基金下跌了 36%。</p>
<ul>
<li>尽管今年整体动能较弱，但 FAZ ETF 最近显示出复苏的迹象。</li>
<li>价格走势已超过其 50 日移动平均线和 20 日指数移动平均线。在过去的几个交易日中，成交量也在上升。</li>
</ul>
<p><em>图片来源于</em> <em>Pixabay.com</em> <em>.</em></p>

金融业 3 倍做多 - Direxion

金融业 3 倍做空 - Direxion

<p>Direxion 的 FAS 和 FAZ ETF 在美联储货币政策转变的背景下引起了关注，最近美联储将利率下调了 25 个基点。这一变化可能会影响金融企业，可能会压缩银行的净利差。金融选择行业指数最近下滑超过 2%，而 FAS ETF 今年尽管面临阻力，仍上涨了近 10%。相反，FAZ ETF 下降了约 33%，但显示出复苏的迹象。这两只 ETF 为投机者提供了杠杆交易选项，但由于其固有风险，建议谨慎操作</p>

<p>While the market's attention has largely concentrated on major headlines such as the blistering technology ecosystem, the Federal Reserve's shifting stance on monetary policy deserves careful consideration. Last month, the central bank cut its benchmark interest rate by 25 basis points, thus delivering a widely expected move that ended a nine-month policy pause. Moving forward, the decision may have significant implications for financial enterprises.</p>
<div class="lb-trans"><p>尽管市场的关注主要集中在技术生态系统等重大新闻上，但美联储对货币政策的转变值得仔细考虑。上个月，中央银行将基准利率下调了 25 个基点，结束了为期九个月的政策暂停，这一举措在预期之中。展望未来，这一决定可能对金融企业产生重大影响。</p>
</div><p>With the reduction in borrowing costs, the underlying environment would likely exacerbate inflation — which is already a challenge for both consumers and various industries. Unsurprisingly, gold has been skyrocketing, benefiting directly from safe-haven demand. Furthermore, experts like market veteran Ed Yardeni believe that gold could reach $5,000 by sometime next year and possibly $10,000 by 2030.</p>
<div class="lb-trans"><p>随着借贷成本的降低，潜在环境可能会加剧通货膨胀——这已经对消费者和各个行业构成挑战。毫不奇怪，黄金价格飙升，直接受益于避险需求。此外，市场资深人士 Ed Yardeni 认为，黄金价格可能在明年某个时候达到 5000 美元，并可能在 2030 年达到 10000 美元。</p>
</div><p>Yardeni isn't alone in his bullishness, with economist Peter Schiff chiming in with an ultimate upside target of $20,000 for the yellow metal. Undergirding much of the optimism is the concept that the relative value of the U.S. dollar will keep declining. As such, gold should rise higher, presenting an intriguing dynamic for financial stocks.</p>
<div class="lb-trans"><p>Yardeni 并不是唯一一个看涨黄金的人，经济学家 Peter Schiff 也表示，黄金的最终上涨目标为 20000 美元。支撑这种乐观情绪的主要因素是美国美元的相对价值将持续下降。因此，黄金价格应该会进一步上涨，为金融股票带来有趣的动态。</p>
</div><p>In the near term, a dovish monetary policy may be bearish for finance-related industries due to net interest margin compression. Because banks earn money on the spread between what they pay depositors and what they charge borrowers, a lower Fed rate would narrow this delta. Subsequently, the compression may reduce net interest income, which is a core profit driver for most banks.</p>
<div class="lb-trans"><p>在短期内，鸽派货币政策可能对金融相关行业产生看跌影响，因为净利差会受到压缩。由于银行通过存款人支付的利息与借款人收取的利息之间的差额来获利，降低的美联储利率将缩小这一差额。因此，压缩可能会减少净利息收入，而净利息收入是大多数银行的核心利润驱动因素。</p>
</div><p>Perhaps unsurprisingly, the Financial Select Sector Index has slipped more than 2% in the trailing month. Also, on a year-to-date basis, the index is up only 9%, thus conspicuously underperforming the benchmark S&amp;P 500.</p>
<div class="lb-trans"><p>或许并不令人意外，金融选择行业指数在过去一个月下跌超过 2%。此外，从年初至今，该指数仅上涨 9%，明显落后于基准标准普尔 500 指数。</p>
</div><p>On the other hand, an accommodating monetary policy could be bullish for certain growth sectors, which in turn could bolster the fiscal print of various financial institutions. What's more, lowered costs of borrowing should be bullish for loan demand due to the stimulus effect of reduced barriers. Thus, in the long run — assuming proper navigation by the Fed, among other factors — dovishness could be a net positive for the financial sector.</p>
<div class="lb-trans"><p>另一方面，宽松的货币政策可能对某些增长行业产生看涨影响，这反过来可能会增强各种金融机构的财务表现。此外，降低的借贷成本应该会因减少障碍的刺激效应而对贷款需求产生积极影响。因此，从长远来看——假设美联储等因素的适当引导——鸽派政策可能对金融行业是一个净积极因素。</p>
</div><p><strong>The Direxion ETFs:</strong> Thanks to the underlying sector's kinesis, traders who wish to speculate on either side of the fence can do so with Direxion's ultra-leveraged exchange-traded funds. For the optimists, the <strong>Direxion Daily Financial Bull 3x Shares</strong> (NYSE:FAS) provides a platform for those with maximum upside conviction. On the other end, the pessimists may consider the <strong>Direxion Daily Financial Bear 3x Shares</strong> (NYSE:FAZ).</p>
<div class="lb-trans"><p><strong>Direxion ETF：</strong> 由于基础行业的动态，想要在两种立场上进行投机的交易者可以通过 Direxion 的超杠杆交易所交易基金来实现。对于乐观者，<strong>Direxion Daily Financial Bull 3x Shares</strong>（NYSE:FAS）为那些有最大上涨信心的人提供了一个平台。另一方面，悲观者可以考虑 <strong>Direxion Daily Financial Bear 3x Shares</strong>（NYSE:FAZ）。</p>
</div><p>Both ETFs track the performance (or inverse performance) of the Financial Select Sector Index. Of course, as 300%-leveraged instruments, traders must exercise extreme caution and discretion before participating. While the gains can be incredibly robust, the losses can be just as steep.</p>
<div class="lb-trans"><p>这两只 ETF 跟踪金融选择行业指数的表现（或反向表现）。当然，作为 300% 杠杆的工具，交易者在参与之前必须极其谨慎和谨慎。虽然收益可能非常可观，但损失也可能同样陡峭。</p>
</div><p>Primarily, the purpose of the FAS and FAZ ETFs is to deliver a convenient mechanism for speculation. With 3X funds, traders can sidestep the options market for their leveraged or bearish wagers. ETF shares (or units to be more precise) trade much like a standard publicly traded security. This familiar process helps mitigate the learning curve.</p>
<div class="lb-trans"><p>主要而言，FAS 和 FAZ ETF 的目的是提供一个便捷的投机机制。通过 3 倍基金，交易者可以绕过期权市场进行杠杆或看跌的押注。ETF 份额（或更准确地说，单位）交易方式与标准的公开交易证券类似。这一熟悉的过程有助于减轻学习曲线。</p>
</div><p>Aside from the extreme market risk, though, prospective participants should note that leveraged and inverse ETFs — especially the 3X variety — should never be held for a period longer than one day. Structurally, the reason is volatility erosion, with returns likely to deviate from expectations due to the daily compounding effect.</p>
<div class="lb-trans"><p>除了极端的市场风险外，潜在参与者还应注意，杠杆和反向 ETF——尤其是 3 倍类型——绝不应持有超过一天。结构上，原因在于波动性侵蚀，收益可能因每日复利效应而偏离预期。</p>
</div><p><strong>The FAS ETF:</strong> Since the start of the year, the FAS ETF has gained nearly 10%. In the trailing six months, the bull fund swung up almost 44%.</p>
<div class="lb-trans"><p><strong>FAS ETF：</strong> 自年初以来，FAS ETF 上涨了近 10%。在过去六个月中，牛市基金上涨了近 44%。</p>
</div><ul>
<li>While the overall trend has been strong for the FAS ETF, the bull fund has encountered heavy resistance, which is worrying.</li>
<li>Right now, the price action sits just above the 200-day moving average but below the 50 DMA. Thus, the bulls must regain control here to prevent additional technical damage.</li>
</ul>
<div class="lb-trans"><ul>
<li>尽管 FAS ETF 的整体趋势强劲，但牛市基金遭遇了严重阻力，这令人担忧。</li>
<li>目前，价格走势位于 200 日移动平均线之上，但低于 50 日移动平均线。因此，牛市必须在此处重新掌控，以防止进一步的技术损害。</li>
</ul>
</div><p><strong>The FAZ ETF:</strong> On the other side of the table, the FAZ ETF declined by roughly 33%. In the past half-year period, the inverse fund is down 36%.</p>
<div class="lb-trans"><p><strong>FAZ ETF：</strong> 在另一边，FAZ ETF 下跌了大约 33%。在过去的半年中，反向基金下跌了 36%。</p>
</div><ul>
<li>Although momentum has been weak throughout this year, the FAZ ETF has demonstrated signs of life recently.</li>
<li>The price action has marched above its 50 DMA and 20-day exponential moving average. Volume has also been rising in the past several sessions.</li>
</ul>
<div class="lb-trans"><ul>
<li>尽管今年整体动能较弱，但 FAZ ETF 最近显示出复苏的迹象。</li>
<li>价格走势已超过其 50 日移动平均线和 20 日指数移动平均线。在过去的几个交易日中，成交量也在上升。</li>
</ul>
</div><p><em>Featured image by</em> <em>Pixabay.com</em> <em>.</em></p>
<div class="lb-trans"><p><em>图片来源于</em> <em>Pixabay.com</em> <em>.</em></p>
</div>

Direxion's FAS, FAZ ETFs Rise To The Forefront Amid Monetary Policy Shift

- 美联储上月降息 25 个基点，结束九个月政策暂停。  
- 降低借贷成本可能加剧通胀，金价受益，专家预测金价将上涨。  
- 金融选择行业指数过去一个月下跌超过 2%，年初至今仅上涨 9%。

在货币政策转变中，Direxion 的 FAS 和 FAZ ETF 崭露头角