嵇晨

JiChen

　　美联储主席伯南克上周五在央行年度杰克逊·霍尔（Jackson Hole）会议上模棱两可地发言表态，在敏感的股票市场解读看来是变相的“靴子落地”，没有切实的类QE3宽松措施出台，分析师认为这很可能会给已经持续走强数月的美股市场带来回调机遇。

Federal reserve chairman Ben bernanke said the central bank annual Jackson hall(Jackson Hole)The meeting to speak ambiguity statement,In sensitive stock market seems to be the interpretation in disguised form"Boots landing",No practical class QE3 loose measures,Analysts say this is likely to have continued to be strong months of the us stock market with callback opportunities.

　　北京时间周二21：45，开盘不久的三大主要股指不同程度地小幅下跌，其中道琼斯工业指数下跌0.2%，纳斯达克综合指数和标普500指数均下跌超过0.1%。

Beijing time on Tuesday the 21st:45,Opening the near three major stock index of different degree small drop,The dow Jones industrial average fell 0.2%,The nasdaq composite index and the s&p 500 index all fell more than 0.1%.

　　“不管伯南克对此前两轮量化宽松措施如何给予肯定，甚至给新一轮宽松预留了窗口和可能性，但对股票市场的刺激效应已经在上周五充分释放。”一位美股分析师认为，经历从今年6月开始至8月末的持续上扬，美股近期呈现交易量萎缩的“疲态”，没有如预期在央行年度会议上斩获确凿的QE3信息，市场很可能会短期修整，投资者也会把关注回到重点的经济数据上。

"No matter Ben bernanke told the two wheel quantitative easing measures how to give a definite,Even for a new round of loose reserve the window and possibility,But to the stock market stimulation effect has been fully released last Friday."An American stock analysts say,Experience from June to late August growing,Beautiful strands of recent present volume shrinking"Signs of",Not as expected the central bank in the annual meeting of the QE3 information gained ground hard,The market is likely to short-term finishing,Investors also will put attention back to the focus of the economic data.

　　周二晚间，最新披露的全美8月Markit制造业PMI终值从51.9下修到51.5，仍高于预期的51.2，更吸引投资者注意力的是下半周的欧洲央行政策制定会议和美国最新月度非农就业数据。

On Tuesday night,The latest disclosure of the August Markit manufacturing PMI final value from 51.9 to 51.5 under repair,Still higher than expected 51.2,More attractive to investors' attention is the second half of the week the European central bank policy meeting and the United States the latest monthly non-farm employment data.

　　目前，来自市场分析人士的观点大多倾向于认为“除了推行更多宽松措施，美联储没有其他办法”，比如投资人杰姆·罗杰斯在近日接受媒体采访时认为“美联储已经在悄悄印钱，QE3已经在悄悄实施”，但他同时认为，“此前两轮QE措施并未起作用”。

At present,From the point of view of market analysts most tend to believe that"In addition to carrying out more loose measures,The federal reserve have no other way",Such as investor Jim Rogers in recently accepted the media interview think"The federal reserve has been quietly to print money,QE3 has been quietly implementation",But he also think,"After two rounds of QE measures did not play a role".

　　分析认为，即便QE3得以正式推出，对当前美股市场的提振作用也会较此前两轮QE措施削弱很多，何况新的QE也会给美国经济带来通胀压力，从盘面看，市场上的投资者也呈现出越来越理性的态度，股市的“QE效应”的确在弱化。

According to analysis,Even if QE3 to officially launched,The beauty of the current a-share market will also lift up with a previous two rounds QE measures to weaken the many,How much more will the new QE also can give the us economy from inflation pressure,From the disk to see,Market investors is also showing more and more rational attitude,Stock market"QE effect"Indeed weakening in.