據(jù)彭博社4月23日?qǐng)?bào)道，摩根大通(JPMorgan Chase & Co.)表示，油價(jià)本周可能出現(xiàn)了一些令人震驚的波動(dòng)，但其系統(tǒng)性影響看上去并不那么可怕。

策略師約翰?諾曼德(John Normand)周三在一份報(bào)告中寫道，盡管近月交割的西德克薩斯中質(zhì)原油(West Texas Intermediate)期貨價(jià)格本周一度跌至每桶-37美元，創(chuàng)下歷史新低，但以典型衰退的標(biāo)準(zhǔn)來(lái)看，其它資產(chǎn)類別的走勢(shì)看似“平淡”。

諾曼德認(rèn)為，能源行業(yè)在標(biāo)準(zhǔn)普爾500指數(shù)中的權(quán)重降低、全球央行目前正在實(shí)施的抑制金融市場(chǎng)波動(dòng)的資產(chǎn)購(gòu)買計(jì)劃以及石油行業(yè)本身的實(shí)際生產(chǎn)調(diào)整，都是讓憂心忡忡的投資者感到欣慰的一些因素。

雖然油價(jià)的短期風(fēng)險(xiǎn)是下行的，但如果預(yù)期油價(jià)會(huì)在夏季很長(zhǎng)一段時(shí)間內(nèi)保持低迷，那就過(guò)于悲觀了。

洪偉立 摘譯自 彭博社

原文如下：

JPMorgan Says Oil-Price Collapse Not a Systemic Risk to Markets

Oil may have clocked some stunning moves this week, but the systemic implications do not look so dire, according to JPMorgan Chase & Co.

Moves across other asset classes look “tame” by the standards of typical recessions, despite front-month West Texas Intermediate futures falling at one point this week to minus $37 a barrel an unprecedented development, strategist John Normand wrote in a note Wednesday.

The reduced weight the energy sector has in the S&P 500 Index, asset-purchase programs currently under way by global central banks to dampen volatility in financial markets and physical production adjustments in the oil industry itself are some of the reasons that should give comfort to worried investors, according to Normand.

While the short-term risk for the oil price is to the downside, it would be overly bearish to expect prices to remain depressed well into the summer, he said.