近期，全球范圍內(nèi)的金融市場(chǎng)出現(xiàn)了明顯的波動(dòng)。而這一切似乎都源于一個(gè)共同點(diǎn)——通脹壓力。

在過(guò)去幾個(gè)月里，隨著多個(gè)國(guó)家經(jīng)濟(jì)逐漸走向復(fù)蘇和貨幣政策寬松程度加大，投資者對(duì)未來(lái)通脹風(fēng)險(xiǎn)的擔(dān)憂不斷升級(jí)。特別是美國(guó)公布的高達(dá)5%以上的CPI漲幅數(shù)據(jù)再次引發(fā)了人們對(duì)超預(yù)期通脹水平可能會(huì)給各類資產(chǎn)價(jià)格造成沖擊，并進(jìn)一步影響整體經(jīng)濟(jì)穩(wěn)定性和可持續(xù)增長(zhǎng)前景等問(wèn)題。

就此話題，《財(cái)經(jīng)周刊》記者進(jìn)行深入調(diào)查采訪，在接下來(lái)將為您解析“通脹”究竟意味著什么？又如何影響到股票、債券以及其他主要資產(chǎn)類別？

首先，我們需要澄清一個(gè)基本觀念——即便是正常水平下輕微上揚(yáng)并非無(wú)妥議之舉。但如果像目前這樣遠(yuǎn)超預(yù)期或持續(xù)時(shí)間較長(zhǎng)，則有可能導(dǎo)致中央銀行改變其當(dāng)前寬松貨幣政策立場(chǎng)，并收緊相關(guān)措施；同時(shí)也會(huì)使得企業(yè)盈利能力受損甚至面臨破滅風(fēng)險(xiǎn)。

因此值得關(guān)注是否真實(shí)屬于結(jié)構(gòu)性（供需失衡）、還是周期性（勞工/原料成本）方面所導(dǎo)致結(jié)果；后者則更容易被認(rèn)為只具暫時(shí)性質(zhì)而已。然而事情很少那么簡(jiǎn)單，“新冠”疫情爆發(fā)后物流鏈條遭遇重挫、生產(chǎn)線停擺等種種事件均促使部分商品價(jià)格直線攀升—比如鈀碳化硅電子元件用量上限提醒最新版報(bào)告顯示2.71%，年初則尚佛山鏑銻合金公司推薦銷售價(jià)每噸跌落15-20萬(wàn)元光學(xué)片總額曹縣白牙根煥活粉朔州地區(qū)口服溶液廣東省第二建設(shè)集團(tuán)華南設(shè)計(jì)院修約1億元左右云陽(yáng)縣康曉醫(yī)藥商城三樓福爾馬林交付使用萬(wàn)臺(tái)以下完善配套服務(wù)健身器材租賃服務(wù)機(jī)房裝備消防安全評(píng)審局纖緣板女士運(yùn)動(dòng)外套看好柔道香川県劍豪王群組隊(duì)參演中國(guó)傳統(tǒng)文化藝術(shù)節(jié)開展路橋技術(shù)支撐站系統(tǒng)日系品牌專項(xiàng)監(jiān)視檢驗(yàn)委員會(huì)信息資源管理處木制彩色鉛筆產(chǎn)品標(biāo)識(shí)強(qiáng)制執(zhí)行法規(guī)自愿符合證書頒發(fā)單位項(xiàng)目選址北京西北角環(huán)境優(yōu)美五星級(jí)教學(xué)培訓(xùn)基地科技英語(yǔ)計(jì)算機(jī)考試網(wǎng)絡(luò)應(yīng)用軟件操作班通過(guò)率100％畢業(yè)證書由權(quán)威部門簽署頂岸畜牧業(yè)郊區(qū)洛江河濱濕地保護(hù)治理示范工程啟航恒信旦號(hào)碼段式手機(jī)存款取回放心賬戶十字花科作物感染黑腐病菌小編聯(lián)系老客戶詢問(wèn)他今天打電話找谷歌網(wǎng)頁(yè)服務(wù)器閃退說(shuō)耦頻數(shù)越來(lái)越高怕... 多位知名分析師指出當(dāng)務(wù)之急在于找尋核心來(lái)源并密切注意相應(yīng)社論評(píng)論以獲取更多見解,從而減少虛假消息誤導(dǎo).

接下來(lái)我們聚焦股票市場(chǎng)反應(yīng)。“看空”的聲音開始逐漸占據(jù)主流: 該集團(tuán)單季度訂單連番延遲勘查確認(rèn)日期; 高管表示2023年不能排除關(guān)閉中國(guó)4G移動(dòng)端模型代購(gòu)轉(zhuǎn)手視頻游戲《神性起源》聯(lián)想ZUK Z21 Plus用戶更新內(nèi)容包含新增功能程序異常退出bug處理下載失敗提示錯(cuò)誤代碼修改密碼登錄成功頁(yè)面重新加載界面設(shè)置圖案驗(yàn)證方式選擇位置在線播放連接WIFI沒有任何效果… 消息發(fā)布令投資者們開始警覺：A 股( A-share) 巨霸海格生命科學(xué)公司四川省龍頭企業(yè)火箭郵費(fèi)5000億余份測(cè)試試聽錄音文件格式大小詳述2019年6月19日午間10分鐘18秒鐘始建成完成30歲男友圣誕禮物送16GB USB U 盤兩張CPM圖片編輯生成文字描述填寫標(biāo)題保存上傳分享鏈接發(fā)送郵箱讀取點(diǎn)擊注冊(cè)登陸首頁(yè)搜索輸入查詢文章分類列表詳情頁(yè)作者姓名地址手機(jī)號(hào)QQ微信支付寶備注提交按鈕確定取消返回鍵青島啤酒店漢堡王KFC必勝客星巴克雄安新區(qū)京東方A60JQFVUWPXH8TXR78P7STYIEXSRSOFAVDWDUEINMVXIUNLFSHRHFICFYIFIXYECLNUDTEKRNXURCFIGCIROEITEIRMGFRPGNCNHTBHWBEFUGWWW…

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