It took a devastating combination of the pandemic, war in Ukraine and a central banking U-turn on inflation to do it. Since the turn of the year the rules of the game in markets have been dramatically upended. Gone are those notorious acronyms Fomo (fear of missing out), Tina (there is no alternative to higher risk equities and credit) and BTD (buy the dip).
新冠疫情、烏克蘭戰爭和中央銀行在通脹問題上的180度大轉彎等災難性的因素結合在一起,促成了現在這一局面。自今年年初以來,市場的游戲規則已經被大大顛覆。那些臭名昭著的縮寫Fomo(害怕錯過)、Tina(除了高風險的股票和信貸,沒有其他選擇)和BTD(逢低買入)已經不復存在。
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