<p><img src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2016/11/27/21/42/stock-1863880_960_720.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2016/11/27/21/42/stock-1863880_960_720.jpg"/></p>
<p><em>图片来源：Pixabay</em></p>
<ul>
<li>英国承诺向乌克兰提供新一轮资金，欧洲防务股上涨</li>
<li>俄罗斯提议交易重返美元，金属价格下跌</li>
<li>美国 CPI 数据发布将主导市场</li>
</ul>
<p>今天早上，欧洲市场表现谨慎，延续了美国和亚洲市场的紧张情绪。围绕人工智能对软件行业的干扰的担忧已经蔓延到美国市场的其他部分，这些部分可能会因新的低成本技术进步而失去业务。昨天，金融服务类股票特别受到冲击，尽管最终下跌蔓延到标准普尔 500 指数的大多数成分股。值得注意的是，尽管关于美国与俄罗斯之间潜在经济关系更紧密的交易有进展，但英国承诺向乌克兰提供价值 5.4 亿英镑的武器作为北约资金计划的一部分，帮助提升了 BAE 系统、罗尔斯·罗伊斯、莱茵金属等防务公司的股价。随着欧洲领导人今天聚集在慕尼黑安全会议上，泽连斯基表示他对提出一个 “糟糕的交易” 以结束战争的公投兴趣不大。马尔科·鲁比奥在周六提供了美国的观点，人们希望他能比去年 JD·范斯表现得更友好。尽管如此，考虑到美国似乎更关注与俄罗斯达成交易的经济利益，而不是安抚他们在欧洲的盟友，毫无疑问，欧洲国家需要花费更多来增强自身的能力。</p>
<p>昨天，俄罗斯提出了一系列经济交易条件，可能使他们与美国的关系更加紧密，这一消息令市场震惊。然而，最引人注目的部分是可能重返使用美元，这与其他金砖国家所构建的去美元化叙事相抵触。这无疑引发了美元的上涨，贵金属因此受到重创。值得注意的是，这又是一次削弱支撑贵金属上涨的多重叙事的举动，美元的潜在走强帮助推动了黄金价格下跌。我们还看到美国国债拍卖的需求强劲，成功售出 250 亿美元的 30 年期债券。关键是，随着投资者努力理解哪些公司将受到人工智能浪潮的冲击，我们看到许多人涌向固定收益，以获取收益而不承担股市相关的风险。</p>
<p>今天将发布最新的美国 CPI 通胀数据，紧接着周三的混合美国就业报告。强劲的就业人数和疲弱的失业率基本上使得许多人认为鲍威尔降息的可能性已被排除，市场现在预计未来两次会议保持利率不变的概率为 75%。然而，关于年度修订、基准调整对 130,000 就业人数的提升作用，以及医疗保健和教育以外的就业创造不足的问题，意味着今天的 CPI 数据仍将在市场情绪中发挥关键作用。一个高于预期的数字无疑会加重市场对美联储更加谨慎的看法，因为沃什一再警告美联储在价格压力上升的背景下不要降息。然而，较弱的通胀数据可能会导致美元再次走低，因为我们预计未来一年可能会有更多的宽松政策。</p>
<hr/>
<p><em>更多来自该作者的文章：</em></p>
<p>疲软的英国经济增长凸显了英格兰银行采取行动的必要性</p>
<p>哈塞特警告就业报告疲弱，美元走低</p>
<p>欧洲市场恢复上涨，科技股抛售影响美国市场</p>

EUXS

IMEU

IESG

<p>欧洲防务股票上涨，因为英国承诺为乌克兰提供 5.4 亿英镑的武器资金，正值与俄罗斯的紧张局势持续。由于对人工智能干扰和美国与俄罗斯之间经济关系的担忧，市场保持谨慎。在俄罗斯提议恢复以美元进行交易后，美元走强，这对贵金属产生了负面影响。在股市不确定性中，投资者正转向固定收益以寻求收益。今天的美国消费者物价指数（CPI）通胀数据预计将影响市场情绪，强劲的读数可能会加强美联储的谨慎立场</p>

<p><img src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2016/11/27/21/42/stock-1863880_960_720.jpg" alt="" original-src="https://cdn.pixabay.com/photo/2016/11/27/21/42/stock-1863880_960_720.jpg"/></p>
<p><em>Image source: Pixabay</em></p>
<div class="lb-trans"><p><em>图片来源：Pixabay</em></p>
</div><ul>
<li>European defence names gain as UK pledges fresh Ukraine funding</li>
<li>Metals slump after Russia proposes deal to move back onto the USD</li>
<li>US CPI release set to dominate</li>
</ul>
<div class="lb-trans"><ul>
<li>英国承诺向乌克兰提供新一轮资金，欧洲防务股上涨</li>
<li>俄罗斯提议交易重返美元，金属价格下跌</li>
<li>美国 CPI 数据发布将主导市场</li>
</ul>
</div><p>We are seeing a cautious tone in Europe this morning, following on from the jitters seen throughout US and Asia. The concerns that have revolved around AI disruption in the software segment have spread into any other part of the US market that could lose business to new low-cost technological advances. Yesterday saw the financial services stocks particularly feel the pinch, although ultimately the declines spread throughout the vast majority of the S&amp;P 500. Notably, despite developments around a potential deal that sees closer economic ties between the US and Russia, the UK pledge to send £540m worth of weapons to Ukraine as part of a Nato funding scheme has helped lift defence names BAE Systems, Rolls-Royce, Rheinmetall and more. With European leaders gathering for the Munich security conference today, Zelensky has noted that he has little interest in presenting a “bad deal” for a referendum to end the war. With Marco Rubio providing the US view on Saturday, there is a hope that he strikes a friendlier tone than JD Vance last year. Nonetheless, with the US seemingly focused more on the economic benefits of making a deal with Russia than appeasing their allies in Europe, undoubtedly the European nations will need to spend more to build up their own capabilities.</p>
<div class="lb-trans"><p>今天早上，欧洲市场表现谨慎，延续了美国和亚洲市场的紧张情绪。围绕人工智能对软件行业的干扰的担忧已经蔓延到美国市场的其他部分，这些部分可能会因新的低成本技术进步而失去业务。昨天，金融服务类股票特别受到冲击，尽管最终下跌蔓延到标准普尔 500 指数的大多数成分股。值得注意的是，尽管关于美国与俄罗斯之间潜在经济关系更紧密的交易有进展，但英国承诺向乌克兰提供价值 5.4 亿英镑的武器作为北约资金计划的一部分，帮助提升了 BAE 系统、罗尔斯·罗伊斯、莱茵金属等防务公司的股价。随着欧洲领导人今天聚集在慕尼黑安全会议上，泽连斯基表示他对提出一个 “糟糕的交易” 以结束战争的公投兴趣不大。马尔科·鲁比奥在周六提供了美国的观点，人们希望他能比去年 JD·范斯表现得更友好。尽管如此，考虑到美国似乎更关注与俄罗斯达成交易的经济利益，而不是安抚他们在欧洲的盟友，毫无疑问，欧洲国家需要花费更多来增强自身的能力。</p>
</div><p>Yesterday’s announcement that Russia has proposed a set of conditions for a economic deal that could bring them much closer to the US shocked many in the markets. However, the most notable part related to the potential move back towards the use of the US dollar, pushing back against the de-dollarisation narrative built by their fellow BRICS nations. This understandably sparked a rise in the US dollar, with precious metals hit hard as a result. Notably, this is yet another move to undermine the multiple narratives that underpin the rise for precious metals, with the potential strengthening of the US dollar helping to drive gold lower. We also saw impressive demand at a US treasury auction as they managed to sell $25bn in 30-year bonds. Crucially, as investors struggle to understand what companies are going to be hit by the AI wave next, we are seeing many flock towards fixed income as a way to gain yield without the risk associated with the stockmarket.</p>
<div class="lb-trans"><p>昨天，俄罗斯提出了一系列经济交易条件，可能使他们与美国的关系更加紧密，这一消息令市场震惊。然而，最引人注目的部分是可能重返使用美元，这与其他金砖国家所构建的去美元化叙事相抵触。这无疑引发了美元的上涨，贵金属因此受到重创。值得注意的是，这又是一次削弱支撑贵金属上涨的多重叙事的举动，美元的潜在走强帮助推动了黄金价格下跌。我们还看到美国国债拍卖的需求强劲，成功售出 250 亿美元的 30 年期债券。关键是，随着投资者努力理解哪些公司将受到人工智能浪潮的冲击，我们看到许多人涌向固定收益，以获取收益而不承担股市相关的风险。</p>
</div><p>Today brings the latest US CPI inflation figures, coming hot off the heels of Wednesday’s mixed US jobs report. The headline read of stronger payrolls and weaker unemployment essentially took the chance of a Powell rate cut off the table for many, with markets now pricing a 75% chance that rates stay steady for the next two-meetings. However, questions around the annual revision, the role of benchmark adjustments to boost the 130k payrolls figure, and the lack of job creation outside of healthcare and education means that today’s CPI figure will still play a key role in sentiment. A hot figure would certainly double down on the notion of a more cautious Fed given the fact that Warsh has repeatedly warned the Fed not to cut rates against a backdrop of rising price pressures. However, a weaker inflation figure could see the dollar turn lower once again as we price a potential for additional easing in the year ahead.</p>
<div class="lb-trans"><p>今天将发布最新的美国 CPI 通胀数据，紧接着周三的混合美国就业报告。强劲的就业人数和疲弱的失业率基本上使得许多人认为鲍威尔降息的可能性已被排除，市场现在预计未来两次会议保持利率不变的概率为 75%。然而，关于年度修订、基准调整对 130,000 就业人数的提升作用，以及医疗保健和教育以外的就业创造不足的问题，意味着今天的 CPI 数据仍将在市场情绪中发挥关键作用。一个高于预期的数字无疑会加重市场对美联储更加谨慎的看法，因为沃什一再警告美联储在价格压力上升的背景下不要降息。然而，较弱的通胀数据可能会导致美元再次走低，因为我们预计未来一年可能会有更多的宽松政策。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p><em>More By This Author:</em></p>
<div class="lb-trans"><p><em>更多来自该作者的文章：</em></p>
</div><p>Tepid UK Growth Highlights The Need For BoE Action</p>
<div class="lb-trans"><p>疲软的英国经济增长凸显了英格兰银行采取行动的必要性</p>
</div><p>Hassett Warns Of Weak Jobs Report As USD Heads Lower</p>
<div class="lb-trans"><p>哈塞特警告就业报告疲弱，美元走低</p>
</div><p>European Markets Regain Ground As Tech Sell-Off Hits US Markets</p>
<div class="lb-trans"><p>欧洲市场恢复上涨，科技股抛售影响美国市场</p>
</div>

随着英国承诺提供新的乌克兰资金，欧洲防务公司的股价上涨