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CITIC Securities: Soaring oil prices reshape asset pricing

CITIC Securities: Soaring oil prices reshape asset pricing

华尔街见闻华尔街见闻2026/03/09 00:27
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Oil prices have surged by 35% in a single week, reshaping the main line of global liquidity and almost triggering a repricing of all assets. At the onset of the US-Iran conflict, capital markets initially priced in a risk-off mode. However, with the growing uncertainty surrounding the disruption of the Strait of Hormuz, the risk-off mode has gradually shifted to a stagflation mode. The latest non-farm payrolls unexpectedly recorded negative growth, coinciding with the oil price surge, and the narrative of "stagflation" in the United States has begun to spread.
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