文 | 银行螺丝钉 （转载请注明出处） 螺丝钉也做了美股、全球股票指数、美债指数的估值表。见文章下面图片。每周日会在公众号、以及「 今天几星 」小程序，每周定期更新。 1. 本周全球股票市场大幅下跌。 不过本周下来，全球股票市场仍然下跌超2%。 亚太、欧洲市场的波动更大一些。 A股港股、韩股、日股、等，本周波动超4%。 港股科技、恒生科技也在周五收盘后，回到了低估。 除了股票市场出现波动，其他资产大类也波动比较大： ·黄金从高点回调7-8%。原油等商品价格下跌更多。 ·虚拟货币一天下跌9%。 货币、短债本身波动比较小，不太受流动性危机的影响。 其他风险资产，本周波动都比较大。 周一到周四，全球股票市场下跌近3%， 周五晚上全球股票市场出现了反弹。 2. 通常不同资产大类不会同涨同跌。 市场担心，如果12月不降息，未来半年可能缺少降息机会。 加上临近年底12月，本身市场流动性就会紧张一些，导致最近的流动性危机。 3. 流动性危机出现的时候，不同资产大类的相关性会变强，一起出现波动。 其中像小盘股、成长股、虚拟货币等，对流动性更敏感。 最近小盘股指数，以及创业板科创板、纳斯达克、恒生科技等成长风格指数，虚拟货币， ...

Core Viewpoint - The article discusses the valuation of global stock indices, U.S. Treasury indices, and the performance of dividend indices in different markets, highlighting the differences in investment opportunities and risks between domestic and overseas markets. Group 1: Global Stock Market Overview - The global stock market experienced an overall decline this week, with European stocks dropping more than 1% and Asian markets, including Hong Kong stocks, also facing downturns after previous gains [4][5]. - The fluctuations in the global market are primarily attributed to regional conflicts, which have a short-term impact on investor sentiment but are not expected to significantly affect the operations of listed companies [5]. Group 2: Dividend Performance Comparison - A-shares and Hong Kong stocks have shown strong dividend performance, while U.S. dividend indices have underperformed compared to the S&P 500 in recent years [6][11]. - The strong performance of A-shares and Hong Kong stocks is linked to the declining interest rates in RMB, making dividend-paying stocks more attractive compared to low-yielding bonds [13]. Group 3: U.S. Dividend Indices - U.S. dividend indices include various categories such as dividend aristocrats and shareholder return indices, which focus on companies with a history of increasing dividends or high share buybacks [8][10]. - The current yield of U.S. dividend indices is around 3-4%, which is less attractive compared to the yields available from U.S. dollar deposits and bonds [16]. Group 4: Investment Opportunities - There are currently no global stock index funds available in mainland China, but there are significant opportunities in overseas markets with global stock index funds totaling over a trillion dollars [20]. - The company has introduced a "Global Index Advisory Portfolio" that diversifies investments across multiple stock markets, including U.S., UK, Hong Kong, and A-shares [22]. Group 5: Valuation Data - The article provides a valuation table for various indices, including P/E ratios, P/B ratios, and dividend yields, indicating which indices are undervalued or overvalued [38][39]. - Indices highlighted as undervalued are suitable for regular investment, while those marked as overvalued should be approached with caution [41].

文 | 银行螺丝钉 （转载请注明出处） 有朋友问螺丝钉，能不能针对 全球股票指数、美债指数等 ， 做个估值表。 目前内地能买到的、投资海外市场的基金品种不多。 A股中证全指本周下跌1.28%，恒生指数下跌1.1%。 亚太地区股票市场普遍下跌，韩股、日股本周下跌3%。 不过在海外这些品种比较丰富。 可以先从指数估值的角度，了解海外市场不同品种的估值情况。 螺丝钉也做了美股、全球股票指数、美债指数的估值表。见文章下面图片。 也新增了美股场内的美债ETF指数的估值。 如果觉得这个估值表 有需要 ， 后续每周日会在公众号、以及「 今天几星 」小程序，每周定期更新。 海外市场指数数量很多，后面大家 有希望增加的品种 ，可以反馈给螺丝钉。 目前螺丝钉后台系统，已经覆盖海外主流的几百只指数品种。 1. 本周全球股票市场整体下跌。 全球股票市场指数，本周下跌1.6%。 2. 市场波动也跟美元最近汇率强势有关。 美元汇率在1月到3月中旬，出现汇率贬值。 这段时间对全球非美股市场有利，整体上涨。 A股港股这段时间里领涨全球。 到了最近两周，美元汇率小幅升值。 对全球非美股市场影响比较大。 其中韩股、日股等波动更大一些。 欧股、港 ...