17/9/2026
環球首席經濟師 Alex Grassino

美國聯儲局宣布調高聯邦基金利率25點子,加幅符合市場預期。環球首席經濟師Alex Grassino分享他對加息的最新觀點。
聯邦公開市場委員會(FOMC)的議息決定及會後記者會整體釋出清晰一致的訊息。鑑於聯儲局7月會議曾引發市場對政策方向的不同解讀,我們認為今次會議屬一項正面發展。聯儲局宣布加息25點子,將聯邦基金利率上調到3.75厘至4厘。我們認為有以下幾點值得留意:
環球股票多元入息基金:市場波動期間繼續嚴選投資
環球股市近期波動加劇,主要受人工智能硬件、半導體及大型雲端運算公司的盈利公告所影響。市場憂慮央行可能加息,亦為投資者增添不確定性。人工智能相關領域經歷長時間的強勁表現後,市場預期顯得偏高。即使企業公布穩健業績,若其展望僅符合而非優於投資者預期,股價仍可能大幅波動。在此環境下,環球股票多元入息基金仍專注於其核心目標:締造收益及保持分散投資,以捕捉潛在的資本增長機會。
環球多元資產入息策略最新動態:以均衡方針應對市場波動
環球股票市場近期波動加劇,人工智能相關領域尤其明顯。人工智能硬件、半導體及大型雲端運算企業盈利業績的公布,一直是導致市場波動的主要原因。市場憂慮央行可能加息,亦增添不確定性。環球多元資產入息策略難免受到這些市場波動影響。然而,策略聚焦收益、廣泛分散投資,並採取相對防守性部署,或有助減低科技及增長相關投資急劇變化所造成的影響。
人工智能背後的實質資產及基建
人工智能的討論往往圍繞模型與應用方面,但其發展很大程度上有賴更為實在的要素。數據中心、電網及原材料等實質資產構成支撐人工智能發展的實體基礎。隨著結構性因素重塑投資格局,實質資產逐漸成為推動人工智能建設的支柱。
Fed hikes rates for first time since 2023 as expected
Today’s Federal Open Market Committee (FOMC) decision and press conference went smoothly—a welcome development, in our judgment, after the mixed signals that emerged from the Fed’s July meeting. The rate decision: A 25 basis-point (bps) hike, bringing the federal funds rate from 3.75% to 4.00%.
Asia High Yield has reached new highs; what’s next?
Asia High Yield (HY) bonds, known for providing an attractive source of income, present a very different opportunity set today compared to the pre-pandemic era. As discussed in our investment note from nearly a year ago, the asset class is no longer dominated by Chinese Mainland property developers. Instead, it has become more diversified, with investment opportunities spanning multiple areas, such as financial institutions, gaming operators, infrastructure providers, and selected frontier markets.
Global Multi Asset Diversified Income Strategy (GMADI) update: A balanced approach to market volatility
Global equity markets have recently experienced sharper movements, particularly in areas linked to artificial intelligence (AI). Earnings announcements from AI hardware, semiconductor and large cloud-computing companies have been key sources of volatility. Concerns about potential interest rate hikes have added to uncertainty. The Global Multi Asset Diversified Income (GMADI) Strategy has not been immune to these market movements. However, its income focus, broad diversification and relatively defensive positioning may help limit the effect of sharp changes in technology and growth-related investments.