Core Insights - The U.S. federal government has been in a continuous shutdown since October 1, which is viewed as a short-term political disruption by Manulife Investment Management's multi-asset solutions team [1][2] - Historical data indicates that government shutdowns have not significantly impacted the stock market, with the S&P 500 index performing better one month after the start of each shutdown since 1980 [2] Market Performance During Shutdowns - Defensive sectors such as utilities, consumer staples, and real estate performed relatively well during the longest shutdown in December 2018, which lasted 35 days [1] - In contrast, during the 21-day shutdown in December 1995, technology, consumer discretionary, and materials sectors underperformed, while consumer staples and utilities were among the best performers [1] - The overall performance of defensive sectors tends to be slightly better than other sectors during shutdowns, but short-term opportunities are often difficult to capitalize on [1] Historical Context and Investor Strategy - Historical shutdowns have not led to significant market volatility, as evidenced by the CBOE Volatility Index (VIX) [2] - Investors are advised to incorporate liquidity needs into their overall financial plans without altering asset allocation solely due to potential government shutdowns [2] - Market volatility during government shutdowns can provide strategic investors with buying opportunities to capture undervalued or oversold assets [2]
宏利投资：美国政府停摆对市场影响有限 投资者宜保持稳健取态
Zhi Tong Cai Jing·2025-10-08 02:35