更多资料加入知识星球：水木调研纪要 关注公众号：水木Alpha June 29, 2025 06:00 AM GMT Sunday Start | What's Next in Global Macro M Global Idea Are Foreign Investors Fleeing US Assets? Investment flows, both from and into US assets, were a key theme in our client conversations in multiple meetings across the pond last week. While many questions concerned the tax provisions under Section 899 proposed in the One Big Beautiful Bill Act, which have since been removed, the subtext was clear – are investors, particularly foreign investors, ...

The risk of a speculative stock-market bubble is increasing as expectations of US interest-rate cuts draw massive investment flows into equities, according to Bank of America’s Michael Hartnett https://t.co/wp1FX2hjnR ...

Precious Analyst 贵⾦属分析师 Gold to Continue Outglittering Silver ⻩⾦将持续⽐⽩银更耀眼 The gold-silver price ratio, which historically traded in a 45-80 range, has broken out of this range since 2022. We don't expect silver to catch up with the gold rally because higher central bank gold demand has structurally lifted the gold-silver price ratio. 历史上在 45-80 区间波动的⾦银价格⽐⾃ 2022 年起已突破该区间。由 于央⾏购⾦需求上升从结构上抬⾼了⾦银价格⽐，我们预计⽩银难以赶 上此轮⻩⾦涨势。 Historically, gold and silver prices were closely linked through investment flows, with silver's ...