Zhejiang Merchant Macro Li Chao: There is still room for fiscal policy to increase. The combination of policies is expected to continue to improve market risk appetite.
A Zhejiang Merchant Macro Report stated that GDP growth rate in the third quarter was 4.6% year-on-year, which is completely consistent with our previous predictions. The macroeconomic operation basically meets market expectations. On the supply side, repairs are relatively fast, and the strength of subir in the industrial sector continues to be evident. From the perspective of total demand, endogenous momentum has stabilized to some extent. In terms of major asset classes, we believe that there is a need for more seguir macro nominal variable marginal improvement driven by inflation, fiscal policy still has room for escalation, policy combinations are expected to continue to improve market risk appetite, and excess savings of residents and future foreign investment are expected to become the main sources of incremental funds in the market. A shares and H shares are expected to resonate and continue to strengthen, and it is recommended to focus on high-elasticity zonas such as ChiNext, Science and Technology 50, and Beixinzheng 50. In terms of fixed income, the 10-year Treasury bond yield is expected to show a fluctuating trend overall, and the valuation of credit bonds is expected to gradually recover.
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Zhejiang Merchant Macro Li Chao: There is still room for fiscal policy to increase. The combination of policies is expected to continue to improve market risk appetite.
A Zhejiang Merchant Macro Report stated that GDP growth rate in the third quarter was 4.6% year-on-year, which is completely consistent with our previous predictions. The macroeconomic operation basically meets market expectations. On the supply side, repairs are relatively fast, and the strength of subir in the industrial sector continues to be evident. From the perspective of total demand, endogenous momentum has stabilized to some extent. In terms of major asset classes, we believe that there is a need for more seguir macro nominal variable marginal improvement driven by inflation, fiscal policy still has room for escalation, policy combinations are expected to continue to improve market risk appetite, and excess savings of residents and future foreign investment are expected to become the main sources of incremental funds in the market. A shares and H shares are expected to resonate and continue to strengthen, and it is recommended to focus on high-elasticity zonas such as ChiNext, Science and Technology 50, and Beixinzheng 50. In terms of fixed income, the 10-year Treasury bond yield is expected to show a fluctuating trend overall, and the valuation of credit bonds is expected to gradually recover.