The writer is chief strategist at UBS Investment Bank The intellectual anchor for the equity rally that began after the US Federal Reserve ended its cycle of increases in January 1995 was provided by Alan Greenspan when the then chair of the central bank extolled improved productivity. The Fed is again close to a dovish pivot and, once more, forecasts of a productivity tipping point are driving equities higher — this time from the spread of artificial intelligence.
本文作者是瑞銀(UBS)投資銀行首席策略師
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