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:
AI熱潮背後:宏利環球多元資產入息基金如何發掘長線股票投資機遇
人工智能(AI)持續創造潛在投資機遇,但我們認為,並非所有與 AI 相關的企業都能成為長期贏家。有見及此,宏利環球基金 – 環球多元資產入息基金採取更具選擇性及重視估值的投資策略。在本投資通訊中,我們將探討在識別長期贏家時所著重的三大關鍵特質,以及這些投資原則如何體現於本基金的股票配置之中。現時,本基金維持看好通訊服務、康健護理、必需消費品及能源等板塊。目前的配置反映投資團隊由下而上分析的投資理念,精選具備長期基本因素、良好現金流特質及估值吸引力的企業。
亞洲高收益債券創新高,接下來何去何從?
亞洲高收益債券一直是投資者獲取較高收益的重要渠道,但現時所面對的投資機遇,與新冠疫情前已截然不同。正如我們接近一年前於投資通訊中探討,這個資產類別已不再由中國內地房地產發展商主導,投資機遇反而變得更多元化,涵蓋金融機構、博彩營運商、基建企業,以及個別前緣市場等多個不同領域。
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。
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%.
Beyond AI hype: How Manulife Global Multi Asset Diversified Income Fund (GMADI) evaluates long-term equity opportunities
AI continues to create potential investment opportunities, but we believe not every AI-related company will become a long-term winner. Rather than maximising exposure to the theme, the Manulife Global Fund - Global Multi-Asset Diversified Income Fund takes a selective and valuation-aware approach. In this investment note, we discuss the three characteristics we look for when identifying long-term winners and how these principles are reflected in the Fund's equity sleeve which currently maintains a constructive view on sectors such as communication services, healthcare, consumer staples and energy. This positioning reflects our bottom-up conviction in individual businesses whose long-term fundamentals, cash flow characteristics and valuations are viewed favourably by the investment team.
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.