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利率飆升 高盛:AI等成長型股票受損 舊經濟股短期表現料跑贏
美國國債孳息率上周大幅上升,美國10年期國債債息率創下2007年以來的最高水平,高盛首席美國股票策略師David Kostin周末給客戶的報告中表示,利率上升或對成長型股票造成更大的傷害,因為部分成長型股票圍繞人工智慧和美國經濟,但投資者的興奮已經降溫。 David Kostin稱,長期股票大部分預期收益和現金流均見於遙遠的未來,長期股票表現已經開始落後於產生大量現金的短期股票,加上近期債券孳息率有所上升,自9月11日以來,長期投資組合已經落後短期投資組合6個百分點。長期投資組合有電動車股Rivian(RIVN.US)、Lucid(LCID.US)及Teladoc Health(TDOC.US)。 高盛短期投資組合包括數隻在9月表現優於大市的舊經濟股,如HF Sinclair Corp(DINO.US)及美國鋼鐵(X.US),本月迄今分別上升4.5%和2.9%。整體而言,高盛強調的短期股票估值較低,且近期獲利前景較長期股票更強。
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