Hot spot information

Trump is about to leave the White House

Adam Schiff, a Democrat on the House Intelligence Committee, said intelligence briefings to President Trump should be cut off immediately regardless of the outcome of the impeachment trial. The impeachment clause has yet to be submitted to the Senate, and it is unclear whether at least 17 Republicans will vote for Democrats to reach the 2/3 majority needed to convict Trump. Democrats say colleagues should act according to their conscience. January 20 is coming, and Trump's term is coming to an end. According to regulations, the transition between the new and old presidents of the United States is at noon on January 20, Eastern time.

The European Union issued a rare warning: the world is too dependent on the dollar

The EU has warned that global markets are too dependent on the dollar. The EU is looking for ways to curb Europe's vulnerability to US sanctions and other financial risks, a challenge to the hegemony of the dollar. An unpublished draft EU policy document reveals the extent of the EU's disappointment with the US after four years in office of the Trump administration. The Trump administration's policy underscores the dominance of the United States and its currency in the global financial system. The document highlights the EU's difficulty in maintaining its independence in the face of Trump's sanctions on Iran, and highlights the EU's ambition to become more self-reliant in a range of areas, including the financial sector.

The source said that Yellen will reiterate that the market determines the exchange rate and will not seek a devaluation of the dollar.

Yellen, the nominee for Treasury secretary, is expected to reaffirm the commitment of the US market to determine the exchange rate in her testimony to Congress on Tuesday, making it clear that the US will not seek a weaker dollar for competitive advantage, according to officials familiar with the matter. The policy outlined by Ms Yellen will represent a return to America's traditional posture against the dollar, and outgoing US President Donald Trump has complained about the dollar's strength for years, saying it gives other countries a competitive advantage over the US.

2020China's first GDP exceeded 100 trillion yuan, an increase of 2.3% over the same period last year.

According to data released by the National Bureau of Statistics, the GDP for the whole year of 2020 was 101.5986 trillion yuan, an increase of 2.3 percent over the previous year at comparable prices. On a quarterly basis, it fell 6.8% in the first quarter from the same period last year, 3.2% in the second quarter, 4.9% in the third quarter and 6.5% in the fourth quarter.

Daxing looks at the market

Bank of America: raising interest rates is the biggest threat to the Stock Market

Expectations of rising interest rates in recent days are beginning to outweigh the gains in stock markets and corporate bonds. According to a survey of fund managers conducted by Bank of America Corporation's global research department in January, more than half of the respondents said the weakening of interest rate hikes and loose monetary policy may be the biggest killer to end the bull market in the first half of this year. BofA analysts believe that in the light of more meaningful fiscal support measures in the US, the market has begun to speculate that the Fed will scale back its asset purchases, making investors acutely aware of the risks posed to risky assets by raising interest rates.

Goldman Sachs Group: expectedThe US economy has grown by 6.6% this year.Be optimistic about the effect of the new stimulus policy

Goldman Sachs Group analysts have raised their US economic growth forecasts twice this month because the fiscal stimulus package launched by President-elect Joe Biden is expected to accelerate the economy's recovery from the epidemic. In his analysis, Goldman Sachs Group predicted that the US economy would grow by 6.6 per cent in 2021, up from 6.4 per cent. He also raised his estimate of the size of the stimulus that the new government would be able to implement in the near future, to 1.1 trillion from the previous estimate of $750 billion. Goldman Sachs Group analysts also said the authorities have stepped up efforts to raise disposable income and government spending, suggesting that economic growth will be stronger later this year.

$Prudential SICAV US large growth shares (USD) (LU0174119429.HK) $

$Junli Henderson American Entrepreneurship (USD) (IE0009354923.HK) $

Viewpoint of institutional allocation

Rich countries Fund:Chinese dollar bonds are adjusted at the beginning of the year, and the allocation value is revealed.

The Wells Fargo Fund believes that the price adjustment of Chinese dollar bonds at the beginning of the year has revealed the overall allocation value of Chinese dollar bonds. First of all, if the vaccine is promoted globally as scheduled, the expectation of a resonant recovery in the global economy is still in place, and the performance of some risky assets is still expected. Secondly, the rapid rise of interest rates is mainly affected by short-term expected changes and event factors, long-term return to economic fundamentals. Finally, although the short-term sanctions imposed by the United States on some Chinese enterprises have interfered with the valuation of the relevant bonds, the credit qualifications of the relevant varieties have not changed in nature. the valuation disturbance caused by short-term concentrated selling actually provides investors with better low allocation and trading opportunities.

MDis (HK $/ monthly dividend) (KYG9319N1337.HK) $

$Yi Fonda (Hong Kong) Select Asian High yield Bonds (Hong Kong dollars) (HK0000384526.HK) $

Guangfa: this round of restless market will continue, but short-term fluctuations will intensify.

GF strategists said that from historical experience, the current round of restless market will continue before the liquidity environment deteriorates, but short-term volatility will still intensify. Liquidity remains loose at the beginning of the year, the probability of liquidity tightening sharply under the disturbance of the epidemic is limited, and the restless market will continue. In terms of configuration, the industries with medium-and long-term logic in the past few rounds have not significantly lost in the later stage, but the leading industries will have rotation and diffusion, and the effect of making money will be more broad-spectrum. At present, the line of sight can be extended to other economic directions.

$Dacheng flexible allocation in China (Hong Kong dollars) (HK0000524253.HK) $

$Dacheng flexible allocation in China (USD) (HK0000524279.HK) $