129764786809687500_79Short-medium-and long-term decline of shibor rates full, Enterprise Bank credit has been removed from the "loan" into a "caution" in physical investment, other investment channels due to the downturn, Europe continues to maintain ultra-loose monetary systems background, began to appear since the start of the a-share market and liquidity ample, in late February and early March the market seems to be back to 2009In an atmosphere similar to the first half of the year. However, market economy and policy background and 2009 is a substantive difference between, first, the 2009 economic recovery cycle, and now at economic downward cycle; the second, policy is a strong stimulus of 2009 phase, the current policy in order to promote structure adjustment, also afraid to inflation came loose space thanMore limited. Therefore, at this stage a share in the fundamentals of game has started forming between prudence and liquidity ample shock. Worthy of note is that in late March and April, a-shares will usher in the data period of pressure in the first quarter, easing expected weakening phase, annual reports and quarterly disclosure of market structure after the completion of the restructuring period. Game between care fundamentals and ample liquidity will be further aggravated, such as2.5 months before the fruit that's a-share liquidity-led, later stage subject to fundamental factors more. The past, defining Chinese economic cold and warm 8%, CPI growth cent criterion is GDP growth, this year's "two sessions," Government work report is the new target of GDP growth 7.5%
tera gold,CPI growth 4%. The new target in accordance with the standards of the past can be definedFor "type of stagnation"
tera power leveling, today, it is reasonable.
That means investors on overheating, stagflation, weak awareness of standards has changed, in turn affecting investment behaviour change. Have 1 economic data released in the above-scale industrial added value of an increase of 11.4%, to a 29-month low fixed assets investment increased 21.5%,Low over the past 9 years; total retail sales of social consumer goods per cent growth fell to 14.7%, most February trade deficit of at least 10 years. These data show the economy is in a visible decline. Problem is not with this, "April and may are the key of the year" season, 1 investment growth per cent in December to fall sharply from last year to 24.7%, and February PMI shows enterprise inventory of short term clearly, indicating that businesses on the economic situation "no end" and compressed new capacity and raw material inventory. Although, national real estate development and investment of 1 per cent growth is still 27.8% (growth rate fell to 7.4%) but high on weak sales, inventory, control under the background of hard pine, lateReal estate new construction continued is the probability of the event, future 2-3 decline in quarterly growth in real estate investment is still a large space.
This means that a quarter is still in "late" stage, most likely is not the end of a new economy. Corresponding to the economic weakness is that new loans in February only $ 710.7 billion, significantly lower than the market expected. New in January-FebruaryTotal loans to 1.4488 trillion yuan, fell by more than 120 billion to $ 1.5756 trillion over the same period last year. Banks are subject to loan ratio was a factor, more important reasons is the economic boom of the enterprise does not have high expectations, wishes fall in demand for credit, over the same period last year and this "loan" is quite a change. February M2 per cent growth of 13%, and the "two sessions"Will determine the 14% of money supply growth target this year is only a whisker away, notes despite the economic downturn, but the subsequent easing of space is very limited. Although the February CPI has dropped to 3.2%, goes through the 3.5% of the one-year deposit rates, but everybody knows that the February CPI fell for seasonal reasons, a CPI increase of time after power is not strong base causes, Extremely loose in Europe and in international commodity prices stimulated under difficult, domestic prices surge from under the situation of agricultural and sideline products have spread to industrial products, does not mean that policies will be significantly relaxed. For stocks, CPI down if interest rates as a result of sustained, was not conducive to the liquidity situation in the market, but, if you enter a negative interest rate state again, policy was afraid to inflationAgain is even more difficult to loosen. In a weak economy, when inflationary pressures
diablo 3 gold, regulatory policy orientations must be "dilemma". But with this year's economic growth targets after the cut from 8% per cent, before the base and continued under the regulation, CPI has a probability of less than 4% this year under the background of the situation, "dilemma" of difficulty have been much lower. Therefore, this macroAdjustment policy will not significantly relaxed "growth", will not be tight again "controlled inflation." In the "neutral" policy context, changes in temperature more caution depending on the fundamentals of the stock market game with ample liquidity, which impact on the market as a whole is: economic boom will cause market valuations decline of down, and ample liquidity market valuations is the role Max waterRestore and enhance, both game role and relationship of the form. Effect both on the local market are: fundamental constraint index carefully height, ample liquidity has decided to stock market activity.
����Therefore, recent market stagnation will remain index, stocks quickly round the situation. Online statement Gold: gold online reprint of the above content, does not show that certifiedIts description for investor use only and does not constitute investment advice. Investor operations accordingly, at your own risk.
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