Photo by BeInCrypto The phrase “debasement trade” as a crypto narrative has become popular. It’s this idea of getting out of government-backed assets, such as bonds or fiat currencies, and into “hard” assets like gold or Bitcoin.  Bitwise CIO Matt Hougan recently posted on X that the debasement trade theory is gaining steam and will be popular into 2026. So, what is this theory, and why is it gaining traction now? What is the Debasement Trade Theory in Bitcoin The Debasement Trade theory in Bitcoin refe ...

Bonds may be more than just a safe haven.BondBloxx ETFs' Tony Kelly, a former Goldman Sachs Asset Management global ETF head, contends it's where investors can also play offense due to the market backdrop."It's definitely getting more nuanced," the firm's co-founder told CNBC's "ETF Edge" this week. "Advisors are being a bit more thoughtful because there is more opportunity in fixed income now that rates are no longer… close to zero [percent]."The Federal Reserve cut interest rates on Wednesday by a quarter ...

Social media giant Meta Platforms will raise up to $30 billion in its biggest bond offering ever, it said in a filing yesterday, as Big Tech rushes to fund the costly expansion of artificial intelligence infrastructure.Meta, navigating a period of intense investments in AI that is creating significant cost pressures, has flagged that its capital expenditure next year would be "notably larger" than in 2025.The company's shares closed down more than 11% on Thursday, as investors mulled a 32% increase in costs ...

Fed Chair Jerome Powell has triggered a backup in Treasury yields, causing bonds to stumble ...

文章核心观点 - 长期投资是积累财富的关键 零佣金券商和碎股交易降低了投资门槛 但成功需要给予投资足够的时间来实现复利增长 [1][2] - 长期投资策略应具备计划性和纪律性 避免试图择时交易 而是通过多元化、买入持有、定期定额等策略来管理风险并追求回报 [2][3][4] 长期投资成功的关键要素 - **多元化投资组合**：通过分散投资于不同公司、行业或资产类别 以降低单一投资的风险和长期波动性 [3] - **买入并持有策略**：资深投资者如沃伦·巴菲特等均建议避免择时交易 坚持长期投资以利用复利和资本增值 [3] - **定期定额投资法**：投资公司如嘉信理财和美林证券推荐此策略 它有助于简化流程、消除情绪干扰、保持纪律、管理波动性并确保长期投资的一致性 [4] 多元化投资组合的构成 - 国内股票 [5] - 国际股票 [5] - 债券 [5] - 短期投资 如大额存单和货币市场基金 [5] 避免市场择时的原因 - **市场不可预测性**：驱动市场波动的变量数量巨大且变化无常 即使经验丰富的投资者也难以长期规律性地预测市场高低点 [6] - **错过上涨交易日的风险**：少数几个表现优异的交易日对市场增长的贡献极大 为规避下跌而频繁进出市场的投资者可能错失这些机会 导致回报严重受损 例如 过去30年间若错过市场表现最好的10天 回报将减半 若错过最好的30天 回报将剧减83% [6]

Investments have always carried some degree of risk, but this year has been particularly tumultuous for investors. Suze Orman, financial advisor and television personality, posted a video to her YouTube channel warning Americans of some unusual signs in the economy and how they affect investments. Read More: Barbara Corcoran: This Is the Only Investment I’ll ‘Never Sell’ Check Out: 6 Things You Must Do When Your Savings Reach $50,000 She also shared some tips on how to navigate investing during such an u ...

Here to react to the POW presser and the Fed's rate cut are Euro Pacific Asset Management Chief Economist and Market Strategist Peter Schiff and Natal Alliance Securities Global Fixed Income head Andy Brener. Welcome to you both. Great to have you here.Peter, I'm going to start with you, my friend, because you don't believe the Fed should be cutting rates. Why is that. >> Well, first of all, I I think the Fed stopped hiking rates prematurely, so that was a mistake.and cutting them now is an even bigger mist ...

行业与公司 * 报告由德意志银行研究院发布，主题为长期投资研究[1] * 研究基于对56个经济体数据的分析，部分数据可追溯至18世纪[2][6] 核心观点与论据 长期资产回报表现 * 过去200年全球通胀调整后（美元计）年化回报率中位数：股票4.9%、60/40投资组合4.2%、政府债券2.6%、票据1.9%、黄金0.4%、现金-2.0%[6] * 21世纪以来黄金表现突出，实际年回报率达7.45%，超过美国股票5.8%、德国股票3.9%和英国股票3.3%[6] * 过去100年股票实际回报最强经济体：瑞典7.5% 美国7.2%[6] * 过去100年债券实际回报最差经济体：意大利-1.1% 日本-1.1% 法国-0.5%[6] * 60/40投资组合在25年内出现名义亏损的概率仅为0.1%[10] 宏观经济与资产回报关系 * 名义GDP增长是资产回报的长期锚点，1900年以来全球名义GDP（美元计）平均年增长5.7%[6][19] * 发达市场名义GDP增长在2010年代降至19世纪水平，导致截至2024年底的25年滚动名义股票回报为1877年以来最低[6][29] * 国际货币基金组织预计未来五年发达市场名义GDP增长平均约为4%，低于历史平均水平[6][32] * 自1971年布雷顿森林体系崩溃以来，没有经济体能够将年均通胀维持在2%以下[6][33] * 全球人口增长放缓，样本中56个经济体有32个预计到2050年劳动年龄人口将萎缩，21个将出现总人口下降[9][59] 估值对长期回报的预测作用 * 起始估值至关重要，低市盈率投资组合在过去70年年化回报20.2%，高市盈率组合为11.4%[9] * 高股息组合在过去200年年化回报12.8%，低股息组合为9.3%[9] * 美国是特例，尽管市盈率和CAPE比率高且股息收益率历史低位，近期回报依然强劲[9][155] * 对于25年期名义债券回报，起始收益率、政策利率、名义GDP增长和通胀高时，后续回报往往最强[9][118] * 当起始名义政策利率低于4%时，25年期债券实际回报中位数徘徊在零附近[9][161] * 当起始10年期收益率低于3%时，通常会导致负的25年实际回报[9][162] 股票与债券比较 * 股票在25年内跑输"床垫下现金"（零回报）的概率为0.8%，但5年内概率升至13.6%[10][225] * 债券在5年、10年和25年内跑输通胀的概率均约为25%[10][225] * 债券在25年内跑赢股票的概率为22.0%，5年内概率升至36.8%[10][225] * 美国是样本中唯一一个在25年期内债券从未跑赢股票的经济体[10][198] * 股票和债券的相关性在新冠疫后通胀冲击后恢复到历史常态的正相关[83] 货币影响 * 过去一个世纪，样本中55个经济体仅瑞士、新加坡和荷兰的货币对美元升值，25个货币贬值超过99%[9][91][93] 极端回撤历史 * 实际调整后股票回撤持续超过25年且期间未恢复的情况极为罕见，但损失幅度可能很严重（如意大利1906年开始回撤53年，最大跌幅-91%）[240][241] * 政府债券的实际回撤持续数十年甚至数百年的情况更为常见且许多仍在持续（如法国1790年开始的回撤已持续234年，最大跌幅-100%）[243][245] 其他重要内容 * 报告指出人工智能是最大的未知数，可能通过提高生产率来弥补劳动力减少的影响[61][64] * 报告强调在法定货币世界，危机通常会引发扩张性政策并导致通胀，因此存在结构性通胀偏向[220][221] * 截至2020年代，美国国债实际表现甚至比1970年代通胀时期更差（10年期国债2020年代年化实际回报-4.5%，1970年代为-1.2%）[253]

Sanofi successfully prices USD 3 billion of bond issue Paris, France – October 28, 2025 - Sanofi announces that it has successfully priced its offering of $3 billion of notes across 5 tranches: $400 million fixed rate notes, due November 2027, bearing interest at a rate of 3.75%. $500 million floating rate notes, due November 2027, bearing interest at compounded SOFR plus 0.46%. $400 million fixed rate notes, due November 2028, bearing interest at a rate of 3.80%. $500 million floating rate notes, due No ...

So, we're talking about the markets close to records. The Dow actually hit an all-time high yesterday. Our Jim Kramer was one of the people saying it's a great sign if you're worried about the AI bubble because the companies that push it out to a record, 3M and Coca-Cola, they're not part of that AI trade.Do you agree with that sense that this is signs of a healthy market. >> Absolutely. And one of the things we look at is breath.And this is what we want to see is broader participation. You know, that rotat ...