瑞银警告投资者有散落的风险，将其标记为迫在眉睫的经济威胁

随着通货膨胀率持续的增长，这种组合可能在不久的将来对市场构成重大挑战。

Investors were warned by UBS on Thursday of the impending threat of stagflation, a combination of bleak.

瑞银在周四警告投资者，即即将来临的陷阱威胁，这是惨淡的结合。

What happened: Persistent inflation and sluggish growth could be a recipe for trouble in the financial markets, according to Iqbal Khan, President of Asia Pacific at UBS Group AG (NYSE: UBS)

发生的事情是：根据瑞银集团AG（NYSE：UBS）亚太地区总裁伊克巴尔·汗（Iqbal Khan）的说法，持续的通货膨胀和缓慢的增长可能是金融市场上的麻烦秘诀。

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While the threat of recession has been widely discussed, Khan highlighted an alternative scenario that is unfolding as central banks aggressively raise interest rates to curb inflation.

尽管经过广泛讨论了衰退的威胁，但可汗强调了一种替代方案，这种情况正在不断发展，因为中央银行积极提高利率以遏制通货膨胀。

“The big question in people’s minds is, are we going into a period of stagnation and high inflation, which will indicate stagflation,” Khan said during his remarks at Bloomberg’s Family Office Summit in Hong Kong.

汗在彭博社在香港的家庭办公室峰会上发表讲话时说：“人们想到的是，我们是否进入停滞和高通货膨胀的时期。”

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Central banks across the globe are tightening their monetary policies to counter inflation, which has been more sticky than anticipated.

全球中央银行正在收紧其货币政策以抵消通货膨胀，这比预期的要粘得多。

Trade disruptions, supply chain bottlenecks, and geopolitical tensions are still impacting the global economic outlook, adding another layer of complexity.

贸易中断，供应链瓶颈和地缘政治紧张局势仍在影响全球经济前景，增加了另一层复杂性。

The U.S. and China are locked in a trade war, with tariffs on key goods, such as rice and wheat, being imposed, ultimately driving up production costs and contributing to the inflation cycle.

美国和中国在贸易战中被锁定，对米饭和小麦等关键商品的关税，最终提高了生产成本并为通货膨胀周期贡献。

Despite these challenges, Khan highlighted the emerging opportunities in different regions. He noted that Europe is showing signs of renewed focus, and both China and Europe offer relatively lower-cost investment options, even with short-term challenges.

尽管面临这些挑战，可汗仍强调了不同地区的新兴机会。他指出，欧洲正在展示重点的迹象，即使在短期挑战方面，中国和欧洲都提供了相对较低的投资选择。

"We see opportunities in Europe, which is coming out of the lethargy it had in the last 10 years. People are looking at Europe again, and there’s a new focus on Europe, which bodes well for the continent’s recovery," he added.

他补充说：“我们看到欧洲的机会是从过去十年来的昏昏欲睡中出来的。人们再次看着欧洲，这对欧洲有了新的关注，这对欧洲的恢复非常好。”

"We prefer Greater China and Europe because they are relatively lower-cost. The U.S. market is fully valued, and we prefer to be more selective in our investment strategy in that region."

“我们更喜欢大中国和欧洲，因为它们是相对较低的成本。美国市场是完全重视的，我们宁愿在该地区的投资策略中更具选择性。”

What is new: UBS is expanding in Asia, and the investment bank is currently building a new office tower in Hong Kong’s West Kowloon district, which is set to open in 2026.

新事物：瑞银正在亚洲扩张，投资银行目前正在香港的西九龙区建造一座新的办公大楼，该区将于2026年开业。

The bank is also planning to invest in new technologies and talent to support its growth ambitions amid fierce competition from local players like DBS Group Ltd (OTC: DBSGY) and HSBC (NYSE:HSB).

该银行还计划投资新技术和人才，以支持DBS Group Ltd（OTC：DBSGY）和汇丰银行（NYSE：HSB）等本地参与者的激烈竞争。

What is next: As the world’s second-largest economy navigates new lows in youth unemployment and a post-COVID recovery, units in the Chinese currency hit a 16-month low against the dollar on Thursday.

接下来是什么：随着世界第二大经济体在青年失业率和复兴后的复苏中导致新的低点，中国货币的单位在周四击败了16个月的低点。

Last week, China reported that its second-quarter GDP grew by a meager 0.8% compared to the previous quarter, a significant slowdown from the 1.3% quarter-on-quarter expansion in the first quarter. Economists polled by Bloomberg had anticipated a 0.5% quarter-on-quarter rise.

上周，中国报告说，与上一季度相比，其第二季度的GDP增长了0.8％，比第一季度的1.3％的四分之一季度扩张率显着放缓。彭博社进行了调查的经济学家预计，四分之一季度的上升幅度为0.5％。

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