【财经期刊FM-Radio｜2021年03月09日】

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美股两重天，道指盘中新高，纳指跌超2%，中概ETF跌超7%，游戏驿站涨超40%；10年期美债收益率重上1.60%；原油盘中涨近3%后转跌；黄金近11个月新低。

发改委：不以GDP增速论英雄；继续引导放开新能源车限购；今年将出台“十四五”新型基础设施建设规划。

中国政府正式核准15国自贸协定RCEP，正加快推进协定实施技术准备。

工信部：瞄准“电动化、网联化、智能化”方向，扎实推动汽车强国建设；工信部长：发展5G和芯片不能一哄而起。

上海房贷新政显威力，经营贷入房市被要求提前还款。

小鹏汽车四季度净亏损大幅收窄至7.87亿元，首次实现全年毛利转正。

美图成为首家买入比特币的港股上市公司，上周投入1790万美元买币。

汽车之家上市遇冷？有券商意外出现弃购。

耶伦：大规模刺激不会制造美国通胀问题；明年将回到充分就业水平；正着手研究比1.9万亿刺激更好的计划。

英央行行长：英国经济仍偏下行风险，在为负利率做准备但并非已确定选此工具；今年末料将结束购债。

欧央行连续第二周减少购买债券，上周买入规模创两月新低。

英版“饿了么”Deliveroo计划上市，估值100亿美元。

以太坊迎来里程碑：“伦敦”硬分叉获批。

“牛市女皇”Cathie Wood：在抛售中发现巨大买入机会，仍看好特斯拉。

美股分化加大，道指午盘涨超600点创盘中新高，收涨逾300点，波音涨超6%领跑成份股；纳指跌超2%创近三月新低，苹果等三只龙头科技股跌超4%；特斯拉跌近6%；标普午盘转跌，IT板块跌超2%；散户抱团股Express涨超60%，游戏驿站涨超40%。泛欧股指涨超2%，创近三周新高及四个月最大涨幅。10年期美债收益率重上1.60%。美元指数创三个半月新高，比特币盘中逼近5.2万美元。原油在沙特重要油港和沙特阿美所在城市遭导弹袭击后一度涨近3%，盘中转跌，跌落两年高位，盘后跌超2%。黄金四连阴创近11个月新低，伦铜终结三连跌走出两周低谷。

美股：道指收涨0.97%。标普500收跌0.54%。纳指收跌2.41%。

欧股：欧洲STOXX 600指数收涨2.10%。德国DAX 30指数收涨3.31%。法国CAC 40指数收涨2.08%。英国富时100指数收涨1.34%。

A股： 沪指收报3421.41点，跌2.30%，成交额4539亿元。深成指收报13863.81点，跌3.81%，成交额5254亿元。创业板指收报2728.84点，跌4.98%，成交额1864亿元。

黄金：COMEX 4月黄金期货收跌1.2%，报1678.00美元/盎司。

原油：WTI 4月原油期货收跌1.04美元，跌幅1.57%，报65.05美元/桶。布伦特5月原油期货收跌1.12美元，跌幅1.61%，报68.24美元/桶。

比特币：CME比特币期货BTC主力合约报52230美元，较上周五纽约尾盘涨5.40%，盘中交投于49500-52425美元区间，上周累涨逾6.60%。

ETF：标普500 SPY收跌0.5%，纳斯达克100 QQQ收跌2.83%，黄金GLD收跌1.02%，金矿GDX收跌1.32%，白银SLV收跌0.17%，美国原油基金USO收跌2.15%，中国科技ETF-Guggenheim CQQQ收跌7.11%。

全球累计确诊逾1亿1771万，死亡261万。

Worldmeters单日新增病例：美国3.4万，印度1.5万，巴西3.2万，俄罗斯1万，意大利近1.4万。

高盛：多数发达经济体将三季度初实现群体免疫。

美疾控中心呼吁接种过疫苗的人群仍应避免旅行，遭航空业反对。

加州发布指引允许4月1日开放娱乐性公园，迪士尼加州乐园有望4月重新开业。

A股机构抱团股瓦解权重股遭抛售贵州茅台跌近5%

A-share institutional conglomerates disintegrated, heavyweight stockssold, Guizhou Maotai down nearly 5%

三大指数集体下跌，创业板指跌5%，失守2800点。白酒概念跌幅居前，权重股贵州茅台遭抛售，跌5%拖累股指。

The three major indexes fell collectively,and the gem index fell 5%, falling to 2800 points. The Baijiu concept was the biggestdrop, while the heavyweight Guizhou Moutai was sold down, or 5%.

一文看懂发改委发布会：不以GDP增速论英雄；继续引导放开新能源车限购；今年将出台“十四五”新型基础设施建设规划

The press conference of the nationaldevelopment and Reform Commission: don’t talk about heroes by GDP growth rate;continue to guide and release the restrictions on the purchase of new energyvehicles; this year, the new infrastructure construction plan of the “14thfive year plan” will be issued

发改委副主任胡祖才称：“（“十四五”）经济增长目标以定性表述为主、隐含定量表述，并不意味着不要GDP增速。”

发改委副主任宁吉喆称，以国内主动工作的确定性来对冲国际复杂环境的不确定性；要开展汽车下乡和汽车以旧换新，引导一些地方和城市继续放开新能源汽车限购政策和增加指标；推进绿色低碳循环发展，实现单位GDP能耗降低3%左右、主要污染物排放量继续下降的目标；今年将出台“十四五”新型基础设施建设规划，大力发展数字经济，拓展5G应用，加快工业互联网、数据中心等建设；继续加强基础研究、应用研究和科技成果的转移转化，要深入谋划推进“科技创新2030—重大项目”，“十四五”全社会研发经费投入年均增长7%以上。 Hu Zucai, deputydirector of the national development and Reform Commission, said:“the” fourteenth five year plan “economic growth target is mainlyexpressed qualitatively and implicitly quantitatively, which does not mean thatGDP growth is not needed.”

Ning Jizhe, deputy director of the nationaldevelopment and Reform Commission, said: to hedge the uncertainty of theinternational complex environment with the certainty of domestic active work;to carry out automobile going to the countryside and exchanging the old for thenew, to guide some places and cities to continue to liberalize the purchaserestriction policy of new energy vehicles and increase the indicators; topromote green and low-carbon circular development, to reduce the energyconsumption per unit GDP by about 3%, and to continue to reduce the emissionsof major pollutants This year, we will issue the new infrastructure constructionplan for the “14th five year plan”, vigorously develop the digitaleconomy, expand 5g applications, and accelerate the construction of industrialInternet and data center; continue to strengthen the transfer andtransformation of basic research, applied research, and scientific andtechnological achievements, and deeply plan to promote the “scientific andtechnological innovation 2030 - major projects” and the “14th fiveyear plan” of the whole society’s R & D investment It increased bymore than 7%.

中国政府正式核准15国自贸协定RCEP，正加快推进协定实施技术准备

The Chinesegovernment has officially approved the 15 nation free trade agreement RCEP andis speeding up the technical preparation for its implementation

商务部长王文涛称，中国政府已经正式核准《区域全面经济伙伴关系协定》（RCEP），正在加快推进实施技术准备方面的工作，一些成员国也在加快推进核准。到目前为止，包括关税减让、原产地认证等准备工作进展顺利。从最新进度看，大部分技术准备已处于“万事俱备只欠东风”的阶段，一旦协定生效即可马上落地实施。

Wang Wentao, Minister of Commerce, saidthat the Chinese government has officially approved the regional comprehensiveeconomic partnership agreement (RCEP) and is speeding up the implementation oftechnical preparations. Some member states are also speeding up the approvalprocess. So far, the preparatory work including tariff reduction andcertification of origin has been progressing smoothly. Judging from the latestprogress, most of the technical preparations are in the stage of"everything is ready but the east wind". Once the agreement comesinto effect, it can be implemented immediately.

RCEP整合东盟十国、中日韩、澳大利亚、新西兰十五国。王文涛说，RCEP签署以后，意味着占全世界三分之一经济总量的地区能够形成一个统一的大市场，这个市场是充满潜力和活力的。

RCEP integrates 10 ASEAN countries, 15China, Japan, South Korea, Australia and New Zealand. Wang Wentao said thatafter the signing of RCEP, it means that regions accounting for one third ofthe world’s total economy can form a unified big market, which is full of potentialand vitality.

工信部长喊话各地：发展5G和芯片，不能一哄而起

The Minister ofindustry and information technology calls for the development of 5g and chips

工信部部长肖亚庆称，要发展新兴的战略产业，比如5G和通讯设备的芯片，“但是，新产业发展不能搞盲目重复建设，也要防止一哄而起，要按照市场化、法治化规律有序发展。此外，还要特别鼓励集群发展。”

Xiao Yaqing, Minister of the Ministry ofindustry and information technology, said that it is necessary to developemerging strategic industries, such as 5g chips and communication equipmentchips. "However, the development of new industries should not blindlyduplicate construction, but also prevent mass action, and develop in an orderlymanner according to the law of marketization and legalization. In addition, weshould encourage cluster development in particular. "

工信部：瞄准“电动化、网联化、智能化”方向，扎实推动汽车强国建设

Ministry of industryand information technology: Aiming at the direction of “electrification,networking and intellectualization” to promote the construction ofautomobile power

工信部副部长辛国斌主持召开汽车产业扩大开放座谈会，指出要系统谋划推动产业转型升级的战略举措，落实《新能源汽车产业发展规划（2021—2035年）》，瞄准“电动化、网联化、智能化”方向，统筹发展和安全，加强政策标准法规协同，加快完善安全监管体系，扎实推动汽车强国建设。

Xin Guobin, Vice Minister of the Ministryof industry and information technology, presided over the Symposium onexpanding the opening up of the automobile industry. He pointed out that it wasnecessary to systematically plan the strategic measures to promote thetransformation and upgrading of the industry, implement the development planfor the new energy automobile industry (2021-2035), aim at the direction of"electrification, networking and intellectualization", coordinate thedevelopment and safety, strengthen the coordination of policies, standards andregulations, and accelerate the improvement of the safety supervision system Topromote the construction of a powerful automobile country.

上海房贷新政显威力，经营贷入房市被要求提前还款

The new policy ofShanghai housing loan shows its power, and the business loan into the housingmarket is required to repay in advance

上海加快推行年初的房贷新政，进入房市的经营性贷款被要求提前还款。网传的《个人贷款提前收回告知函》显示，借款人如果不能赶紧筹钱还上贷款，抵押的房子就会被银行没收

Shanghai accelerated the implementation ofthe new housing loan policy at the beginning of the year, and business loansentering the housing market were required to repay in advance. According to theonline “notice on early recovery of personal loan”, if the borrowerfails to raise money to repay the loan, the mortgaged house will be confiscatedby the bank

小鹏汽车Q4净亏损大幅收窄至7.87亿元首次实现全年毛利转正｜财报见闻

Xiaopeng’s Q4 netloss narrowed sharply to 787 million yuan, realizing full year gross profit tobe positive for the first time

学习特斯拉？美图成为首家买入比特币的港股上市公司

Learning from Tesla?Meitu became the first listed company to buy bitcoin

上周，美图买入价值1790万美元的近380枚比特币和2210万美元的1.5万枚以太币，成为第一家购买比特币的香港上市公司。

Last week, Meitu bought nearly 380 bitcoinsworth US $17.9 million and 15000 ether coins worth US $22.1 million, becomingthe first Hong Kong listed company to buy bitcoin.

顶级苹果分析师郭明錤：MR/AR是科技业下一个10年大趋势

Top Apple analystGuo Mingxu: MR / AR is the next 10-year trend of technology industry

郭明錤认为，MR/AR将是下一个定义电子产品的创新人机介面的关键技术。苹果预计将在2022年中推出头盔式产品，售价可能与高配iPhone相近。

Guo believes that Mr / AR will be the nextkey technology to define the innovative human-computer interface of electronicproducts. Apple is expected to launch helmet products in the middle of 2022,and the price may be similar to that of the high-end iPhone.

汽车之家上市遇冷？有券商意外出现弃购

Auto home’s listingcold? Unexpected abandonment of securities companies

值得警惕的是，汽车之家行业内的竞争对手多背靠大树——懂车帝为字节跳动孵育品牌，而易车背后则有腾讯的身影，且董事长正是造车新势力蔚来的创始人李斌。 It’s worth noting thatmost of the competitors in the auto home industry rely on the big tree tocultivate their brands. Behind e-Car is Tencent, and the chairman of e-Car isLi Bin, the founder of new car building forces.

耶伦：大规模刺激不会制造通胀问题；明年将回到充分就业水平；正着手研究比1.9万亿刺激更好的计划

Yellen: massivestimulus will not create inflation; it will return to full employment nextyear; we are working on a better plan than the $1.9 trillion stimulus

美国财长耶伦接受采访时称，她“真的不认为”刺激计划会带来令人担忧的通胀激增，正是刺激计划才能令美国明年重返疫情前经济水平和恢复充分就业；预计明年美国经济将重新回到去年疫情爆发前的充分就业水平。她再次重申，就算通胀走高也有工具来应对。

U.S. Treasury Secretary Yellen said in aninterview that she “really does not think” the stimulus plan willbring about a worrying surge in inflation. It is the stimulus plan that canmake the U.S. return to the pre epidemic economic level and full employmentnext year. It is expected that the U.S. economy will return to the pre epidemicfull employment level next year. She reiterated that even if inflation goes up,there are tools to deal with it.

英央行行长：英国经济仍偏下行风险，在为负利率做准备但并非已确定选此工具；今年末料将结束购债

Governor of the Bank of England: the UKeconomy is still on the downside risk, preparing for negative interest rate,but this tool has not been selected definitely; debt purchase is expected toend at the end of this year

英国央行行长贝利称，英央行的低利率和QE政策在支持预期的经济复苏，这充分证明当前的货币宽松合理；英央行将继续执行已经宣布的购买资产项目，预计会在今年末左右结束项目。他说，英国的经济仍处于偏向下行的风险；虽然央行要求商业银行为未来六个月内负利率的可能性做准备，但那并不是暗示负利率是央行已经选择的政策工具，只是意味着有那方面的意图。

Bailey, the governor of the Bank of England,said the bank’s low interest rates and QE policies are supporting the expectedeconomic recovery, which fully proves the current monetary easing isreasonable; the bank will continue to implement the announced asset purchaseproject and is expected to close the project by the end of this year. He saidthe UK economy is still at risk of a downward trend; while the central bankrequires commercial banks to prepare for the possibility of negative interestrates in the next six months, it does not imply that negative interest ratesare the policy instruments that the central bank has chosen, but that meansthere is an intention in that regard.

散户抱团股成了美股避风港？GME卷土重来两周大涨300%

Retail investorsholding group stocks as a safe haven for US stocks? GME makes a comeback, up300% in two weeks

散户抱团股“带头大哥”游戏驿站周一午盘前最高涨近43%，股价上冲197美元，从上周二收盘以来连涨四日，接近抹去2月以来全部跌幅，其他美股散户抱团股集体上涨。分析称，GME聘请高管加速电商化转型是今日抱团股上涨驱动因素。

Retail group stocks “leading bigbrother” game station rose nearly 43% before midday on Monday, and theshare price rose to $197. It has been up for four consecutive days since theclose of last Tuesday, nearly erasing all the losses since February. Other U.S.retail group stocks rose collectively. Analysts said that GME hired executivesto accelerate the transformation of e-commerce is the driving factor for therise of group stocks today.

无惧债市抛售欧央行连续第二周减少债券购买

Fearless bond marketsell-off, ECB reduces bond purchase for the second consecutive week

该机构上周在新冠紧急采购计划（PEPP）下净买入119亿欧元债券，购买规模创两个月新低，远低于该工具平均的购买速度180亿欧元。

The agency last week bought 11.9 billioneuros of bonds under the new crown emergency purchase plan (PEPP), a two monthlow, far below the average purchase speed of 18 billion euros.

“牛市女皇”Cathie Wood：在抛售中发现巨大买入机会，仍看好特斯拉"

Bull Queen"Cathie wood: find huge buying opportunities in selling, still optimistic aboutTesla

Wood称，并不担心旗下基金最近的下跌，而且牛市的范围正在扩大，这对我们长期有利，在抛售中发现了巨大的买入机会；她仍然看好特斯拉，暗示旗下投资公司ARK将很快发布最新的股票目标价。

Wood said that she was not worried aboutthe recent decline of her funds, and the scope of the bull market is expanding,which is good for us in the long term. She found a huge buying opportunity inthe sell-off. She is still optimistic about Tesla, suggesting that itsinvestment company Ark will soon release the latest stock target price.

供应链融资公司GreensillCapital申请破产，软银又“中招”

Greenhill capital, asupply chain financing company, filed for bankruptcy, and Softbank"won"

2019年获得日本软银愿景基金15亿美元投资的供应链金融公司Greensill Capital申请破产保护。有分析称，软银的投资有完全“打水漂”的风险，这是偏爱新经济和共享经济的孙正义高调投资的又一失败例证。软银美股ADR跌至一个月最低。

Greenhill capital, a supply chain financecompany invested by Japan’s Softbank vision fund of US $1.5 billion in 2019,filed for bankruptcy protection. Some analysts say that Softbank’s investmenthas the risk of completely “drifting away”, which is another failureexample of sun Zhengyi’s high-profile investment in favor of new economy andsharing economy. Softbank’s ADR fell to the lowest in a month.

1.9万亿刺激大利好？美债收益率也会进一步拉高！

1.9 trillion tostimulate the great good? U.S. bond yields will also rise further!

经济学家认为，“1.9万亿”的数字将在周一刺激金融市场，为美债收益率带来上行压力。接下来要关注的是什么？其他主要央行是否跟随美联储“无视收益率走高”！

Economists believe that the “1.9trillion” figure will stimulate financial markets on Monday, bringingupward pressure on US bond yields. What’s next? Are other major central banksfollowing the Fed’s “ignoring higher yields”!

华尔街“热议”：连续大跌后，资金为何依然狂买美股？

Wall Street"hot discussion": Why are funds still buying US stocks after a seriesof big falls?

波动性大增、美债收益率飙升，按理说，股市会遭遇抛售。可是，在过去16周中，流入美股的资金达到了创纪录的4360亿美元，这些钱从哪儿来，又投向了哪里？ With a surge involatility and a surge in U.S. bond yields, it is reasonable to say that thestock market will encounter a sell-off. But in the past 16 weeks, a record $436billion has flowed into U.S. stocks. Where did the money come from and wheredid it go?

英版“饿了么”Deliveroo计划上市估值达100亿美元丨IPO见闻

"Hungry"deliveroo plans to go public with a valuation of US $10 billion

2020年，Deliveroo的亏损同比收窄了29%，至2.237亿英镑；这家成立8年的公司在外卖业务蓬勃发展的这一年依然未能盈利，这可能会引发潜在投资者对其长期业务模式的质疑。

In 2020, deliveroo’s loss narrowed by 29%year-on-year to 223.7 million pounds; the company, which has been establishedfor eight years, still fails to make profits in the year when the takeoutbusiness is booming, which may cause potential investors to question itslong-term business model.

以太坊迎来里程碑：“伦敦”硬分叉获批币价未来可能继续“起飞”

Ethereum ushers in amilestone: “London” hard bifurcated approved currency price maycontinue to “take off” in the future

在ETH的基本费用销毁机制中，如果区块奖励低于销毁的基本费用，可能会造成通缩，这或将导致ETH的价格水涨船高。

In eth’s basic cost destruction mechanism,if the block reward is lower than the basic cost of destruction, it may causedeflation, which may lead to the rise of eth’s price.

1、RCEP | 8日，商务部部长王文涛在“部长通道”采访活动中表示，RCEP签署以后，意味着占全世界三分之一经济总量的地区能够形成一个统一的大市场，这个市场是充满潜力和活力的。目前中国政府已经正式核准了协定。

点评：中信建投认为，RCEP能显著降低关税和非关税贸易壁垒，进一步强化远东区域的制造中心地位，奠定区域内海运贸易量增长的基础。另外，几大工程机械龙头企业均在布局海外，东南亚市场已成为我国工程机械出口的重要市场，RCEP签署有利于加快我国工程机械出口。

2、燃料 | 据百川盈孚数据，3月8日江浙地区分散染料市场价格上涨近7%，近1个月以来累计涨幅达20%。

点评：国内染料行业集中度较高，分散染料前三的企业集中度达60%。近期受国际原油价格快速上涨影响，染料中间体价格上涨。另外，下游印染企业开工订单大增，染料行业需求开始回升。中信证券[600030.SS、06030.HKEX]认为，下游纺织印染行业市场正在积极复苏，染料产业链有望维持景气向上趋势。公司方面，安诺其、浙江龙盛等主营染料业务。

3、BIPV | 经过多年的市场沉淀，BIPV（光伏建筑一体化）发展模式及技术路径已逐渐成熟。据报道，现已有超过20个省市发布了BIPV相关政策。北京、广州等多个城市纷纷出台支持政策，在补贴及并网等方面给予大力支持。

点评：目前特斯拉、隆基等行业巨头纷纷入局BIPV，试图打开行业市场空间。欧美、日本21世纪初即出台扶持BIPV政策，美国加州自2021年起要求新建房屋标配，欧盟、日本亦有类似强制政策。我国规划到2023年大部分新建建筑为绿色低碳零能耗建筑，BIPV也属此范畴，契合碳中和的相关政策要求，BIPV未来将迎来快速发展期。秀强股份与光伏行业龙头英利集团合作开发适用于BIPV领域的玻璃深加工产品。海达股份在BIPV领域与行业头部企业合作，研发相应密封部件。拓日新能BIPV光伏建筑一体化项目也多次入选住建部示范项目。

4、石墨烯 | 据报道，来自洛桑联邦理工学院的科研团队采用石墨烯材料研制出新型的二氧化碳过滤器。这种石墨烯过滤器不但非常薄，关键是它可以将二氧化碳从工业废气的混合气体中分离出来，而且在效率和速度方面也远超市面上的大多数过滤器。

点评：作为温室效应的罪魁祸首，二氧化碳对环境的危害不言而喻，虽然现在也有一些技术可以吸收二氧化碳，但问题是从工业排放的废气中捕获二氧化碳的成本居高不下。造成这种情况的原因是工业废气中并不是单纯的二氧化碳，而是二氧化碳与氮气以及其他各种气体的混合物。因此，基于目前的技术从废气中单独提取二氧化碳需要消耗额外的能源，当然这也就意味着要花费更多的费用。科研团队负责人表示：“我们估计，这项技术将使碳捕获成本降低近 30 美元/吨二氧化碳，而其他商业技术的成本要比这高出 2 到 4 倍。”道明光学将新增建设年产100万平方米石墨烯膜生产线项目。大富科技拥有石墨烯全产业链，实现了划时代的1元/克以内的低成本高品质石墨烯产业化制造。

3月9日，星期二，宜见证历史

2020年3月9日，开盘仅四分钟，标普500即触发熔断，这也是美股熔断机制1988年实施以来第二次使用。因油价暴跌和疫情加剧，当天美股经历“黑色星期一”，暴跌逾7%。

欧元区四季度GDP。EIA月报。汽车之家在港二次上市，预计筹资超70亿港元。

作者：张良信息咨询服务工作室
Author: Zhang information consulting services studio
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来源：华尔街见闻
Source: Wall Street