格隆汇1月28日｜高盛报告指出，尽管地缘政治风险上升，但投资者风险偏好仍处高位，显示市场对宏 观风险消化较为充分。根据该行的最新仓位与情绪指标，投资者乐观情绪目前位于约67百分位水平，其 专有风险偏好指数也升至2021年4月以来最高，凸显出投资者继续青睐风险资产的程度。当前资金正全 面流向高风险资产，股票配置保持积极，投资者持续超配并扩大全球布局，未转向防御。美国散户的持 续参与支撑了市场广度，同时国际资金加速流入欧洲、日本及新兴市场。这表明投资者对全球增长前景 信心增强，正从集中配置美国转向分散布局，更愿意增配可能受益于周期复苏、估值优势或政策改善的 地区。 ...

Core Viewpoint - Fitch Ratings indicates that rising trade tariffs and policy uncertainty will weaken global growth prospects and exacerbate the risks of tightening financial conditions [1] Group 1: Global Economic Impact - The escalation of the global trade war and uncertainty regarding tariff outcomes pose significant negative shocks to the global economy [1] - The impact on global trade volume, supply chains, investment, and international relations is substantial [1] Group 2: Financial Environment - High levels of public finance and political risks remain prevalent [1] - The uncertainty regarding the extent and timing of price and economic activity impacts further complicates the Federal Reserve's policy interest rate path and increases volatility risks in the financial environment [1]

Core Viewpoint - The Reserve Bank of Australia has downgraded the global growth outlook due to increased uncertainty stemming from U.S. tariff policies [1] Group 1 - The uncertainty caused by U.S. tariff policies is impacting global economic forecasts [1] - The Australian economy is expected to be affected by these global changes, leading to a more cautious outlook [1] - The Reserve Bank of Australia is closely monitoring the situation as it may influence domestic monetary policy decisions [1]

Core Viewpoint - The ECB Governing Council member and Bundesbank President Nagel stated that tariffs have severely worsened the global growth outlook [1] Group 1 - Financial market volatility is expected to persist [1] - The European Central Bank is likely to achieve its inflation target this year [1] - The ECB will make responsible decisions next week based on data and new information [1]