“特朗普交易”遭重创

Core Insights - The "Trump trade" is facing significant losses as assets linked to Trump and his family have sharply declined since his return to the White House, with some investors suffering substantial losses [1] - The Trump Media & Technology Group's stock has plummeted by 75% since his inauguration, while meme coins associated with Trump and Melania have seen declines of 86% and 99% respectively [1] - The sell-off has affected a wide range of speculative assets, including cryptocurrencies and high-risk stocks, as investor focus shifts from political prospects to actual company performance [1][2] Market Trends - The decline in Trump-related assets coincides with a broader cooling of market speculation, with a notable 21% drop in a basket of unprofitable tech stocks tracked by Goldman Sachs from mid-October to November 21 [2] - The Trump Media & Technology Group has a staggering price-to-sales ratio of 1240, indicating extreme valuation concerns [2] - The overall performance of the "Trump trade" strategy is mixed, with healthcare stocks rising while clean energy companies struggle [2][3] Alternative Assets - Gold has emerged as a winner amid economic slowdown concerns, with prices around $4200 per ounce, reflecting a nearly 60% increase this year [3] - Bitcoin has faced a brutal sell-off, dropping 30% in less than two months, impacting Trump-related business ventures heavily invested in cryptocurrencies [3] Economic Outlook - Investors are shifting focus to upcoming inflation indicators, particularly the Personal Consumption Expenditures (PCE) price index, with expectations of potential interest rate cuts by the Federal Reserve [4] - Despite increased volatility in the S&P 500, the index has shown resilience, rebounding from sell-offs and remaining close to historical highs [4] - Concerns over budget deficits are keeping long-term U.S. Treasury yields high, while the dollar is weakening due to fears that proposed tax cuts will exacerbate deficit spending [4]