[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio37f897a8":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcio37f897a8","高盛(GS)业绩意外“爆冷”内幕：利率交易巨亏近10亿美元-伽马交易部门成“罪魁祸首”","\u002Fdoc\u002Fdcio37f897a8","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，本周，高盛(GS)公布了一份不及预期的财报，这令投资者倍感意外，也对其股价形成压制。而造成这一结果的“元凶”，正是其规模庞大的利率交易业务——在美以对伊朗发动袭击后，利率大幅飙升，这导致该业务遭受重创。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">据知情人士透露，由Arvind Giridhar负责的高盛美国非线性伽马利率交易部门出现亏损，这是导致该业务板块一季度业绩较分析师预期相差近10亿美元的原因之一。伽马交易主要是对期权风险敞口随标的资产价格波动的变化速度进行投机操作。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">高盛发言人对此拒绝置评。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">该交易部门隶属于高盛固定收益、外汇及大宗商品(FICC)业务板块，而这一板块在周一公布的营收意外下滑。当期营收为40亿美元，同比下滑10%，较分析师的普遍预期低逾8亿美元。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">此次亏损发生之际，全球多家以稳健收益著称的大型多策略对冲基金在3月同样出现亏损。中东局势动荡扰动能源、债券、股票等多个市场，迫使交易员平仓拥挤头寸，进而引发市场连锁反应。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">这一状况也成为Anshul Sehgal面临的一次考验。作为高盛FICC业务三位联席主管之一，他负责机构抵押贷款交易业务，并于去年晋升至高盛最高管理委员会。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">高盛首席执行官David Solomon为公司固定收益交易业务辩护，批评分析师将业绩预期设定得过高。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Solomon在分析师电话会议上表示“这在很大程度上与研究机构设定的预期有关。”他同时指出，即便如此，这仍是高盛FICC业务史上表现第十好的季度。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">不过，高盛股票交易业务表现远超预期，依托市场大幅波动实现季度营收53.3亿美元，创下华尔街所有银行单季股票交易营收的历史最高纪录。而随着本周财报陆续披露，高盛多数同业机构的固定收益交易业绩均超出市场预期。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">高盛总裁John Waldron周三在华盛顿举办的媒体活动上表示“尤其是在利率和大宗商品市场波动剧烈的阶段，交易操作随时可能出现不如预期的情况。季度业绩有固定的核算截止日期，最终只会呈现既定结果。但从长远来看，我对公司FICC业务毫无担忧。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">3月初，多家银行均预判前端利率将下行，彼时劳动力市场有所降温，市场普遍预期美联储即将启动降息。然而，伊朗局势升级推高了能源价格暴涨的预期，中东地区持续动荡，反而推动利率大幅走高。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">知情人士称，高盛利率交易部门规模相对较大，服务于华尔街多家顶级对冲基金与风险投资机构，因此相比部分同业，其对地缘政治冲击更为敏感。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">与之形成对比的是，摩根大通(JPM)一季度利率业务营收同样下滑，但对该业务依赖度更低，其整体固定收益板块营收仍实现21%的增长。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">周一，高盛首席财务官Denis Coleman仅简要提及固定收益交易营收下滑，将其归因于利率及抵押贷款交易部门营收“显著下降”，同时表示外汇与大宗商品业务表现强劲。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">事实上，据另一位知情人士透露，高盛大宗商品业务营收同比增幅超60%，与华尔街整体的丰收景象一致。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">最专业的美股资讯,推荐美股大数据 \u003Ca href=\"https:\u002F\u002FStockwe.com\u002F\">https:\u002F\u002FStockwe.com\u002F\u003C\u002Fa>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">如何识别美股市场异常波动？美国机构主力资金买卖情况，出货和吸筹，使用美股投资网VIP会员，2008年成立于美国硅谷，由前纽约证券交易所分析师Ken创立，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化模型，建立了一个股市数据库 \u003Ca href=\"https:\u002F\u002FStockWe.com\u002F\">https:\u002F\u002FStockWe.com\u002F\u003C\u002Fa> 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]