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即將降臨的厄運循環
魯賓尼
2022年1月,當美國十年期國債和德國國債收益率分別還處於大概1%和-0.5%水平時,我就警告說通脹將對股票和債券不利。更高的通脹率將導致債券收益率上升,這反過來又會損害股票,因為股息的貼現系數上升。但與此同時基於收益率和債…
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