【中英字幕】彭博财经简报26.11.11

共 3 集

剧集目录

集	标题	时长
P1	【中英字幕】彭博财经简报26.11.11 【双字&原声】	42:15
P2	【中英字幕】彭博财经简报26.11.11 【英字&原声】	42:13
P3	【中英字幕】彭博财经简报26.11.11 【无字&原声】	42:13

P1 · 【中英字幕】彭博财经简报26.11.11 p01 【双字&原声】 (P1)

【中英字幕】彭博财经简报26.11.11 p01 【双字&原声】 (P1)

发布于 2026-11-12 · 时长 42:15

字幕摘录

时间	英文	中文
0:14	It's 5 a.m. in New York City, 10 a.m. here in London.	现在是纽约早上5点伦敦早上10点
0:17	Good morning, everybody.	早上好,大家好,谢谢
0:18	I'm Anna	我是安娜,我叫安纳
0:18	Edwards with your Bloomberg Brief.	爱德华兹与你的彭博简介。
0:20	Let's get you set up for the day ahead.	令诸众生安住前天.
0:22	Equities get a boost after stronger than expected quarterly results from CoreWeave, reviving	在核心网络的季度结果比预期的要强之后,股票得到增殖,恢复活力
0:27	investor confidence in the AI trade.	投资者对AI贸易的信心.
0:30	Andropix Bankers说正在考虑提高估价
0:33	for the firm's blockbuster IPO at $1.5 trillion or more.	以1.5万亿或更多美元的价格买下公司的IPO
0:38	And a hot CPI print ramps up rate	热的CPI打印率上升了

展开字幕全文（866 条）

序号	英文	中文
1	It's 5 a.m. in New York City, 10 a.m. here in London.	现在是纽约早上5点伦敦早上10点
2	Good morning, everybody.	早上好,大家好,谢谢
3	I'm Anna	我是安娜,我叫安纳
4	Edwards with your Bloomberg Brief.	爱德华兹与你的彭博简介。
5	Let's get you set up for the day ahead.	令诸众生安住前天.
6	Equities get a boost after stronger than expected quarterly results from CoreWeave, reviving	在核心网络的季度结果比预期的要强之后,股票得到增殖,恢复活力
7	investor confidence in the AI trade.	投资者对AI贸易的信心.
8	Andropix Bankers说正在考虑提高估价
9	for the firm's blockbuster IPO at $1.5 trillion or more.	以1.5万亿或更多美元的价格买下公司的IPO
10	And a hot CPI print ramps up rate	热的CPI打印率上升了
11	Mike Betts.	麦克贝茨。
12	Cash treasury markets are closed for Veterans Day after a surge in yields.	现金库市场在收益激增后关闭,用于退伍军人日。
13	Let's get a check on the markets then around the world.	让我们检查一下市场然后在世界各地。
14	Here's Winnie Hsu in Hong Kong	香港的荣氏
15	for the latest on the Asia trade.	最近关于亚洲贸易的情况。
16	Winnie.	荣曰.
17	Good morning, Anna.	早上好,安娜,你好吗?
18	Well, as you mentioned,	嗯,如你所说,
19	we are seeing pretty positive sentiment in Asia today and actually Asian stocks rising	我们今天在亚洲看到相当积极的情绪和实际上亚洲的股票上升
20	for a third day, headed for its best three days gains since August.	进入8月份以来最好的三天
21	Now, as you mentioned,	现在,正如你提到的,
22	we have the better than expected results from CoreWeave that really reassured investors	我们的CoreWeave结果比预期的要好能让投资者放心
23	that the AI computing demand is still very strong.	AI计算需求仍然非常强烈.
24	还有 FT报道说 Andropix
25	Bankers are considering a raising IPO valuation for the company.	银行家们正在考虑提高公司IPO的估值。
26	So that together you are	所以你们在一起
27	seeing tech stocks in Asia leading gain index here up by about 3.6 percent, also being lifted	亚洲的科技存量领先增长指数上升了3.6% 也正在被取消
28	by the gains that we saw in TSMC.	由我们在TSMC中看到的成果。
29	Of course, we did have that 60 percent jump in revenue	当然,我们确实有 60%的收入跳跃
30	for October.	为十月.
31	And plus the company saying that it is investing 500 million dollars each in	再加上公司说投资5亿美金
32	Andropix and OpenAI.	安德罗皮克斯和OpenAI.
33	Now, Flipboard and take a look at the bond space because we are seeing	现在,翻板,看看债券空间,因为我们看到
34	the impact from that harder than expected U.S. CPI numbers raising the expectation for	美国消费物价指数比预期的要高,对美国消费物价指数的影响提高了人们的期望。
35	the Fed to tighten more aggressively.	美联储要更加严厉
36	That is why you are seeing Japan's 10-year and	这就是为什么你看到日本的十年和
37	five-year here higher by about nine basis points for the yields.	五年的产量比这高9个基点
38	And we are also seeing	我们还看到
39	a bit of a weakness in the Japanese yen, in fact, weakening to its weakest level in more	日元的一点弱点事实上更弱到最弱
40	than a month after we saw a bit of a strength when it comes to the U.S. dollar.	一个多月后,我们看到了一点强力当涉及到美元。
41	Winnie,	荣耀,
42	thanks very much.	非常感谢
43	Winnie Su with a look at Asia.	荣耀苏与看亚洲.
44	Now onto Europe.	现在进入欧洲。
45	This is a picture,	这是一张照片,
46	a snapshot really of what we are seeing here in the European session.	我们在欧洲会议上看到的一幕。
47	The stock 600 up	股票600块
48	three-tenths of one percent, catching up with the U.S., a strong earnings story to sell.	三十分之一,赶上美国, 一个强大的收入故事出售。
49	And some people pointing to the European equity markets as being a bit of a haven away from	一些人指向欧洲股权市场是一个有点避风港
50	turmoil in U.S. tech.	美国科技的动荡
51	European tech actually benefiting today up by 1.8 percent and keeping	欧洲技术今天实际受益1.8%,
52	an eye on what's going on in fixed income of all sorts.	观察各种固定收入的情况。
53	No cash trading in the Treasury	财务处没有现金交易
54	market in the United States.	美国市场。
55	But yesterday we saw Treasuries and European bond markets	但昨天我们看到了国库和欧洲债券市场
56	really roiled by that much higher, well, the higher print than expected on CPI and what	这么高的印数比预期的要高
57	that did to yields.	这的确使产量下降。
58	So we continue to watch where yields are moving.	因此,我们继续观察产量在移动。
59	With that in mind,	考虑到这一点,
60	we've got U.S. two-year futures on the board for you as we continue to track the fallout	当我们继续追踪后遗症时, 美国的两年期货就在董事会上
61	from that CPI print and the hawkish commentary from the Fed and the reassessments of Fed	对美联储的重新评估
62	rate hike bets that we've seen as a result.	速率上涨的赌注,我们已经看到的结果。
63	NASDAQ futures up by 1.7 percent.	纳斯达克期货涨1.7%.
64	S&P 期货
65	up by eight-tenths of one percent.	增长了百分之八十分之一
66	从CoreWeave传来的一些新闻线
67	and Anthropic, as we mentioned in our headlines, acting as something of a comfort to the tech	正如我们在头条新闻中所提到的对科技来说是一种安慰
68	trade.	贸易。
69	Let's get some of the stocks we're watching this morning.	我们早上看的股票
70	这是Olivia Levieux。
71	Good morning, Anna.	早上好,安娜,你好吗?
72	You'd be hard pressed to find a part of the tape both globally and	你很难找到磁带的一部分全球和
73	in U.S. pre-market that isn't dominated right now by the AI trade.	在美国的市场前, 现在不受AI贸易的支配。
74	Particularly, though,	尤其是,虽然,
75	this morning, we're focusing on CoreWeave.	今天上午,我们集中关注科雷韦
76	They lifted their four-year guidance and beat	他们解除了四年的指引,打了
77	on third quarter revenue.	第三季度的收入。
78	Both of those metrics coming in ahead, handily ahead, actually,	这两种衡量标准都提前, 手脚提前,实际上,
79	of Wall Street expectations, helping to calm investor nerves over CoreWeave's debt-laden	在华尔街的预期中,帮助投资者平息了CoreWeave的负债
80	businesses and, in general, the challenges facing the data center industry.	商业,以及数据中心行业普遍面临的挑战。
81	That's lifting	这是抬
82	AI stocks across the board.	AI股票横行.
83	Another area that we're focused on, though, is the AI photonics	我们关注的另一个领域是AI光学
84	complex.	复杂。
85	Coherence and momentum are both higher in pre-market trading.	市场前贸易的一致性和势头都较高。
86	After Japanese peer	仅次于日本同行
87	Hamamatsu Photonics was up almost 15 percent, showing that photonics demand is still incredibly	哈马松光子公司上升了近15% 显示光子公司的需求仍然惊人
88	strong.	强壮。
89	It's a key component in data centers.	这是数据中心的关键组件。
90	Finally, we have results from Alcon.	最后,我们得到了阿尔康的结果。
91	They're	他们是
92	down in Europe and they're down in pre-market U.S. trading after disappointing third quarter	在欧洲,他们在美国市场前的交易令人失望的第三季度
93	results that were led by a weakness in their implantables business.	由植入物业务的弱点所带动的结果。
94	Olivia 非常感谢你
95	Olivia Levieux和你的前市场搬运工
96	Coming up this	来了
97	hour, we will get into conversation about the tech trade with Olaolu Ogongu, who joins	一小时后,我们将讨论与奥拉奥卢·奥贡古的技术交易, 他加入了
98	us from Citi, joining us to talk about the AI rally and how that rubs up against moves	我们花旗人一起讨论AI集会以及那与动作有何冲突
99	in bond markets.	债券市场。
100	Let's get back to the CoreWeave story, though, talking of AI.	让我们回到CoreWeave的故事,虽然,谈论AI.
101	Shares are extending gains	股份扩大收益
102	after posting strong results and an upbeat forecast, with the CEO Michael Intrator calling	在发布强效结果和乐观预测后首席执行官迈克尔·Intrator呼叫
103	it a breakout quarter for the firm.	这是律所的逃生季度
104	让我们把Tom MacKenzie, 自己的主播带来
105	trade here in London, with me, of course, and here to tell us all the things we need	当然,在伦敦,我在这里交易, 在这里告诉我们我们需要的一切
106	to know about the tech trade.	了解技术交易。
107	先从CoreWeave开始.
108	What was comforting about	为何如此安慰
109	CoreWeave要说什么?
110	你几乎可以从Michael Intrator那里得到解脱, 当然,CEO,
111	company, on the back of earnings and the upgrades to the forecast.	公司,收入的背面升级到预测。
112	So they're now forecasting	所以他们现在在预测
113	$13.3 billion in revenue for the full year.	全年收入133亿元.
114	So that was a significant beat.	所以,这是一个显著的节拍。
115	Losses for	损失
116	the company have narrowed, so that's significant.	公司缩小了,这很重要。
117	And they have this chunky backlog of about	他们有一大堆积压
118	$132 billion, above $132 billion in terms of orders that they now need to execute on.	1 320亿美元,超过1 320亿美元订单,他们现在需要执行。
119	So in all those metrics, this is very positive for a company that's come under increased	因此,在所有这些衡量标准中, 这对一个公司来说是非常积极的, 公司正在增加
120	scrutiny, of course, around its business model and how viable it is because they have to	当然,围绕其业务模式及其可行性来审查,因为它们必须
121	borrow at high rates to build out the infrastructure, to build out the data sensors and buy the	高利率借款建造基础设施,建造数据传感器并购买
122	chips that they then lease on to the likes of Microsoft and open AI.	然后租给微软的芯片打开AI
123	So a beat on that	这么一拍
124	$62 billion.	620亿元.
125	But certainly it's a tick in the box, and they need to continue performing	但肯定在盒子里需要继续表演
126	in these quarters to really assuage the concerns.	在这些方面真正缓解关注。
127	But the market, or at least the stock, has	但市场,至少股票,有
128	cooled higher this morning.	今天早上凉了
129	Even if we still have questions and concerns about the role of Nvidia right now, it seems	即使我们现在对恩维迪亚的角色仍有疑问和担忧,似乎
130	that the narrative about CoreWeave is at least a positive one in the short term.	关于CoreWeave的叙述在短期内至少是积极的。
131	What else	还有什么
132	have we got in the mix, then?	那我们有混音吗?
133	Anthropic and the conversations there about, well, we know	Anthropic和那里的对话我们知道
134	a bit more about the timing, don't we, it seems, about this IPO, the planned timing	更多关于时间,是不是,我们似乎, 关于这个IPO, 计划的时间
135	and the planned valuations.	和计划的估值。
136	What are the reports like around just how high or low the valuation	报告是什么样子的只是估价有多高或低
137	might go?	也许去?
138	报告显示对Anthropix IPO的需求巨大.
139	The Financial Times front	金融时报前线
140	page today, they're looking at a valuation potentially of more than one and a half, more	在今天的网页上, 他们正在寻找一个潜在的价值超过一个半,更多
141	than one and a half trillion dollars.	超过1.5万亿美元。
142	Now that would make it the biggest IPO ever on	这将是有史以来最大的IPO
143	record.	记录。
144	They had set a pricing yesterday in the update to the S1, the SEC, the Securities	他们昨天在S1的更新中设定了定价证监会证券
145	Exchange Commission, of between $70 to $78 per share.	交易委员会,每股70至78美元。
146	It seems they now may increase	看来他们现在可能会增加
147	that pricing, which is unusual given the demand they've seen.	价格,这是不寻常的鉴于他们已经看到的需求。
148	And in terms of the forward	在前进方面
149	picture, look, this is still a company that is projecting into the 2030s commitments of	20世纪30年代的承诺
150	around 900 billion US dollars, but revenues are growing.	大约900亿美元,但收入正在增长。
151	The revenue growth is phenomenal.	收入增长惊人。
152	It's nearly 50%.	近五成'.
153	It's slowed.	减速了
154	The revenue growth has slowed, but from a very, very high	收入增长放缓,但从非常,非常高的水平上看
155	level, it seems right now, and this is the most important takeaway, this IPO will get	级别,它似乎现在, 这是最重要的外卖, 这个IPO会得到
156	through.	通过。
157	Then in the secondaries, how do the public markets then react to that?	然后,在二手货, 公共市场如何反应呢?
158	Is there	有没有
159	a pot?	锅?
160	Does it sustain it?	它能维持下去吗?
161	Or do people take cash off the table?	还是人们会把现金从桌子上拿走?
162	Yeah, we certainly did have one guest on Asia programming, I think, didn't we, who was-	是的,我们确实有一个嘉宾在亚洲的节目,我想,是不是我们,谁是...
163	Jack Selby.	杰克・塞尔比。
164	Yeah, a little bit cautious on what happens when lockups come to an end and that sort	是啊,有点谨慎会发生什么当锁结束,那种
165	of thing.	东西。
166	OpenAI, third quarter revenue numbers coming through from OpenAI up by 50%.	OpenAI,来自OpenAI的第三季度收入数字增加了50%.
167	I mean,	我是说...
168	you're telling us a comforting story about monetization and the ability to monetize these	你告诉我们一个令人欣慰的故事关于货币化和这些货币化的能力
169	models.	模特儿们
170	是啊,听着,我想如果你把这些三个业务一起,CoreWeave,Anthropic,
171	OpenAI, one clear takeaway for the bulls is the demand continues to be there, massive	OpenAI, 公牛的一个明显的外卖是需求继续在那里, 巨大的
172	demand, massive demand for compute.	需求,大量的计算需求。
173	这是CoreWeave的故事与积压的132
174	10亿,对前沿模型的大量需求仍然为OpenAI和Anthropic。
175	OpenAI, 作为
176	you said, 10 billion US dollars in the most recent quarter in terms of the revenues that	你说,在最近一个季度收入100亿美元
177	came through.	来了
178	So on an annualized rate, you're looking at revenues now of about 50, 5-0,	因此,按年化率计算,你目前的收入约为50,5-0.
179	about 50 billion dollars annualized revenues for OpenAI.	OpenAI的年收入约为500亿美元。
180	So they are catching up with Anthropic	所以他们追上安斯罗皮克了
181	and they are proving that there is still demand.	他们正在证明,仍有需求。
182	Now, they're still making a loss and losses	现在,他们仍然在损失和损失
183	and the margin is still very much in negative territory for OpenAI, but those losses have	并且对OpenAI来说利润率仍然非常低但是这些损失
184	narrowed.	缩小。
185	Okay, Tom, thank you very much.	好吧,汤姆,非常感谢。
186	Tom McKenzie, of course, with the latest on those tech themes.	汤姆·麦肯齐,当然, 最新的技术主题。
187	Tech themes rubbing up against the latest inflation data out of the US.	技术主题与最新的美国通货膨胀数据相冲突。
188	The latest CPI	最新的消费物价指数
189	report came in then hot, sending two-year Treasury yields soaring by the most in some	两年的国库收益飙升了
190	19 months.	19个月。
191	Chicago Fed President Austin Coolsby weighed in on the report on PBS NewsHour.	芝加哥联邦总统奥斯汀·柯尔斯比在PBS新闻频道的报道中做了评论.
192	Take a listen.	来听听
193	It's another distressing report, borderline disturbing.	这是另一个令人不安的报告, 边界扰动。
194	So we've got a real inflation	所以,我们有一个真正的通货膨胀
195	issue on our hands that has been developing and we're going to have to deal with that.	我们手上的问题, 一直在发展, 我们将不得不处理。
196	Now the cash Treasury market is closed today in the US, but there's movement elsewhere,	现今美国现金库市场已经关闭但其他地方也有动向
197	of course, and there was a plenty of movement in yesterday's session.	当然了,昨天的会议也有很多动静
198	Ven Ram joins us,	文・拉姆加入我们
199	Bloomberg's Ven Ram, with some analysis.	彭博社的"文拉姆",附有一些分析.
200	So, Ven, we established over the last 24 hours	所以,文,我们在过去24小时里建立了
201	that stocks like tech and that bond markets, once again, do not like inflation and that's	股票如科技债券市场,再次, 不喜欢通货膨胀,这是
202	certainly what we saw at the front end of the US curve.	当然,我们看到的美国曲线的前端。
203	How surprised were you by the	你有多惊讶
204	extent of the move in Treasuries and other global bond markets on the back of that inflation	通货膨胀背后的国库和其他全球债券市场的移动程度
205	print?	打印吗?
206	Hi, Anna.	嗨,安娜,你好吗?
207	So I don't think I was surprised at all because, you know, this was an accident	所以我不觉得惊讶因为,你知道,这是一个意外
208	that was waiting to happen.	等待着发生
209	We have discussed in recent sessions how well the US economy	我们在最近几届会议上讨论过美国经济如何发展
210	has been doing, real growth has been above 3%, which is above trend, and you've got inflation	一直以来,实际增长已经超过3%, 这是高于趋势,
211	that is running well above 3% and yesterday's inflation was to the upside.	而昨天的通货膨胀是好的。
212	So the markets	所以市场
213	have been glossing over the fact that, you know, how far does the Fed have to put up	美联储要忍受多久
214	And it looks like they have to go a long way because, you know, even the Fed's own estimate	看上去他们必须走很长的路因为,你知道,连美联储自己的估计
215	of the real neutral rate is 120 basis points now, and clearly that's understating it, and	现在实际中性率是120个基点很明显这是低估了它
216	as Gulsby said, this is disturbing, and I think that the Fed has got to go more than	正如Gulsby所说,这是令人不安的,我认为美联储必须不止
217	three times, which is what the markets are currently pricing in, and if the Fed has got	如果美联储已经得到
218	to keep raising rates, I think that the front end is more or less there around 475, 478,	为了不断提高利率,我认为前端大约是475,478,
219	which is the spread over the Fed mid-rate is considerable, but if you look at the long	美联储的中位率是相当可观的但是如果你看看
220	end, that's where I'm really concerned, and I think that the 10-year is hovering around	结束,这就是我真正关心的地方, 我认为十年正在徘徊
221	5% as we talk, but I think that the 10-year and the 30-year yields really have much more	5%,我们说话, 但我认为,十年和30年的产量真的很多
222	work to do, and I think that the direction of yields is higher from here.	我认为,从这里来看,产量的方向更高。
223	Yes, it's interesting, isn't it?	是的,这很有趣,不是吗?
224	We got back above 5%, didn't we, yesterday on the 10-year?	我们回到了5%以上,是不是,昨天的十年?
225	We closed at 4.99, and obviously no cash trading today.	我们4时99分关门了显然今天没有现金交易
226	So what dictates the direction of travel	是什么决定了旅行的方向?
227	next then, Ven?	接下来呢,文?
228	We saw, of course, the fallout from the AI nervousness in the United States	当然,我们看到美国AI的紧张情绪
229	post the midterms.	张贴中期。
230	That led to quite a lot of bond buying and therefore lower yields,	这导致了大量的债券购买, 并因此降低了收益,
231	but that thought process or that investment thesis seems to have moved aside.	但那个思考过程或投资论文似乎已经转移了。
232	Well, as there are going to be episodes of volatility in the equity markets, you will	股权市场会有波动你会的
233	see tactical rallies in treasuries, but I don't think that's the sustainable or the	在国库里看到战术集会, 但我不认为这是可持续或
234	direction of treasuries from here, because if you're a nominal bond holder, you want	因为如果你是名义债券持有者
235	to be compensated for inflation.	以补偿通货膨胀。
236	That's the point of buying bonds, and if you're not getting	这就是买债券的意义如果你得不到
237	an adequate inflation compensation, what is the point of that five nominal coupons, because	适当的通货膨胀补偿,那五张名义优惠券有什么意义,因为
238	they're going to be eroded by inflation?	他们会被通货膨胀侵蚀?
239	So I think that the direction of yields, at least	所以我认为,产量的方向,至少
240	the long-dated bonds, is definitely higher from here, and I think that we are not yet	长久以来的债券肯定比这里更高我认为我们还没有
241	in the value zone.	在值区。
242	If you look at the median of the inflation-adjusted yields on the 10-year	如果按通货膨胀调整后的10年产量的中位数
243	treasuries going back in history, it's about 2.5%, and we are not at that level, so I think	历史上的国库,大约是2.5%, 我们没有达到这个水平,所以我想
244	that we have got further to go here.	说我们还有更多的事要做
245	Okay, Ven, thank you very much.	好的,文,非常感谢
246	Thanks for	谢谢
247	the analysis.	分析。
248	Bloomberg's Ven Ram from the Markets Live team.	彭博的Ven Ram来自市场现场团队.
249	Now to other top stories	现在到其他顶级故事
250	that are trending on the Bloomberg terminal this morning.	今早布隆伯格航站楼出现的趋势
251	Morgan Stanley says global equity	摩尔根斯坦利说全球股权
252	hedge funds cut risk at the fastest pace in more than a decade through the first week	对冲基金减少风险的速度超过10年,一直持续到第一周
253	The retreat came as AI stocks sold off following the midterm elections.	后期选举结束后,
254	Hedge funds returns	对冲基金收益
255	in the first week of November were negative across all regions.	在11月第一个星期,所有区域都呈负数。
256	U.S.	美国.
257	Ambassador to China	驻华大使
258	David Perdue说Nvidia CEOJensen Huang和一位中国人之间的争议
259	spy is posing a test to bilateral relations.	间谍正在考验双边关系
260	He says U.S.-China relations are quite bumpy	他说中美关系很不稳定
261	ahead of next week's summit between Presidents Trump and the Chinese President to take place	在川普总统和中国总统下周峰会之前
262	in Shenzhen in China.	在中国深圳.
263	Meanwhile, Treasury Secretary Scott Besson hailed an improvement	与此同时,财政部长斯科特·贝松对改进表示欢迎。
264	in U.S.-China engagements ahead of President Trump's visit next week.	在川普总统下星期访问之前,
265	He spoke to the	他跟那个
266	National Committee on U.S.-China Relations.	中美关系全国委员会.
267	We are establishing a direct channel to ensure	我们正在建立一个直接渠道来确保
268	that either nation can promptly alert the other to serious incidents involving its S.I.	两国可以迅速提醒对方注意涉及其特别情报的严重事件。
269	levels.	水平。
270	作为S. I.
271	advances, so will the need to engage in new areas of risk management	需要参与风险管理的新领域
272	and to demonstrate how our two great nations can reconcile the demands of competition with	并展示我们两个伟大国家如何能够调和竞争的要求,
273	the responsibilities of leadership.	领导责任。
274	Coming up on the program, Russia and Ukraine try	接下来,俄罗斯和乌克兰尝试
275	to negotiate a peace deal.	谈和约
276	More on that next.	接下来会有更多
277	This is Bloomberg.	这是彭博社
278	This is Bloomberg Brief.	这是彭博简介。
279	I'm Anna Edwards live in London.	我是安娜·爱德华兹住在伦敦
280	Ukraine and Russia continue a second day of U.S.-led	乌克兰和俄罗斯继续以美国为首的第二天
281	Let's get an update with Bloomberg's Greg Sullivan.	让我们来了解一下彭博的格雷格·沙利文
282	Greg, what's the latest then coming	格雷格,什么是最新到来
283	from these talks?	从这些谈话?
284	A couple of days in and some of the language seems to be quite positive.	几天内和一些语言似乎相当正面.
285	Any substance?	有物质吗?
286	Right.	对
287	The second day of talks did kick off	第二天的谈话开始
288	today.	今时.
289	Ukrainian President Volodymyr Zelensky said that issues like de-escalation, potential	乌克兰总统沃洛迪米尔·泽连斯基说,缓和、潜力等问题
290	ceasefires over the Black Sea and energy infrastructure could be on the table in today's talks.	在今天的会谈中,对黑海的停火和能源基础设施可以放在桌面上。
291	Coming	来了
292	out of yesterday's talks, the U.S. and Ukraine cast them as rather constructive and productive.	在昨天的会谈中,美国和乌克兰把会谈说成是建设性的和富有成效的。
293	Russia was slightly more reticent.	俄罗斯的沉默略微强烈。
294	An official that was part of the talks said that it's	参加会谈的官员说
295	still too early to say how the negotiations are going.	现在说谈判进展还为时过早。
296	These are the first negotiations	这是第一次谈判
297	since February when the U.S. shifted its focus to the its war on Iran.	自2月美国将重点转移到对伊朗的战争之后.
298	So now that they're	所以现在他们
299	resuming, it is an interesting sign that there is some momentum and some sides are casting	恢复,这是一个有趣的迹象,即出现了一些势头,一些方面正在发挥
300	it as constructive.	很有建设性
301	But still, the fact remains that a lot of issues remain on the table and	然而,事实仍然是,许多问题仍然摆在桌面上。
302	there is quite a chasm between the two sides leading into these talks on those issues.	双方之间存在着很大的分歧,导致就这些问题举行会谈。
303	Meanwhile, the attacks by both sides do seem to continue then, Greg.	同时,双方的攻击似乎仍在继续,格雷格。
304	That's right.	没错
305	We saw attacks overnight from both Ukraine and Russia.	我们一夜之间看到来自乌克兰和俄罗斯的袭击。
306	Ukraine said that	乌克兰说,
307	energy infrastructure was struck while Russia said that oil infrastructure in Luga was hit.	俄罗斯说卢加的石油基础设施受到冲击,
308	So they haven't been quite to the same scale that we saw leading up to the attacks.	因此,他们还没有达到我们所看到的攻击前的规模。
309	Both	两者
310	sides have been escalating their attacks prior to these talks, yet clearly it's still ongoing,	双方在会谈前不断升级攻击,但显然仍在继续,
311	even as President Zelensky said that today potential ceasefires over energy could be	正如泽连斯基总统所说,今天潜在的能源停火可能是
312	{\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}就放在桌子上 {\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}我还没说
313	But again, Russia has cautioned that it is still too early to say, and up	但俄罗斯再次告诫说,现在说起来还为时过早。
314	until now Russia hasn't backed away from its maximalist demands and has been cautious	直到现在,俄罗斯一直没有放弃其最大的要求,并且一直谨慎行事.
315	about any kind of acceptance of a ceasefire, actually broadly rejecting the need for a	基本上拒绝接受停火的必要性。
316	ceasefire as potentially only buying Ukraine time to regroup.	停火可能只是为乌克兰重新集结争取时间。
317	Right.	对
318	It's interesting.	这很有趣。
319	At this meeting, we have the US, of course, bringing these	在这个会议上,我们让美国,当然,带来这些
320	two sides together.	两边在一起。
321	Ukraine is there.	乌克兰在那里。
322	Russia is there.	俄罗斯在那里。
323	Not much European presence, but	没有多少欧洲的存在,但
324	there has been some suggestion that maybe Europe has a part to play here then, Greg.	有人建议,也许欧洲可以在这里发挥作用,格雷格。
325	That's right.	没错
326	It's actually interesting.	这其实很有趣。
327	Yesterday, on Tuesday, ahead of the talks,	昨天,星期二,在会谈前,
328	Ukraine said that they met with their European counterparts who are in Abu Dhabi, alongside	乌克兰说,他们与在阿布扎比的欧洲同行会晤。
329	US envoys Steve Witkoff and Jared Kushner.	美国特使史蒂夫·维特科夫和贾里德·库什纳.
330	Today, the head of the Ukrainian delegation,	今天,乌克兰代表团团长,
331	Rustam Umarov, said that after the trilateral talks with Russia and the US, Ukraine plans	Rustam Umarov说,在与俄罗斯和美国进行三边会谈之后,乌克兰计划
332	to meet again with their European partners.	与他们的欧洲伙伴再次会面。
333	And then on top of that, US Secretary of State	还有,美国国务卿
334	Marco Rubio said that Europe needs a place at the table and he hopes that the talks will	马可·鲁比奥说,欧洲需要坐到桌面上,他希望会谈能够进行
335	expand to include them going forward.	扩大范围,以包括未来。
336	And that makes sense for Europe, who sees this	这对欧洲来说是有道理的,谁看到这个
337	conflict as part of their security infrastructure, that see it as a direct threat since it is	冲突是其安全基础设施的一部分,因为它被视为一种直接威胁,因为它是
338	in Europe, and they have long wanted to be at the table, but have largely been excluded	在欧洲,他们早就想坐在桌子上,但基本上被排除在外
339	from talks during President Trump's second administration.	特朗普总统第二任执政期间的谈话
340	Just briefly then, Greg, what are the sticking points?	简而言之格雷格问题是什么?
341	Are we still talking about territory	我们还在谈论领土
342	and the future security guarantees for Ukraine?	以及乌克兰未来的安全保障?
343	Those are the big ones.	这些都是大的。
344	There have been a lot of issues on the table, but there's no	桌上有很多问题,但是没有
345	doubt that the two most intractable issues are the security guarantees.	怀疑两个最棘手的问题是安全保证。
346	It's hard to	这很难
347	see what Moscow would accept that would also please Kiev and be secure enough that they	看莫斯科会接受什么基辅也会喜欢的安全到他们
348	would feel that there is less of a threat of Russian aggression going down the future.	俄国侵略的威胁会减少
349	And then, like you said, territory.	然后,就像你说的, 领土。
350	Moscow hasn't backed away from demands that Ukraine	莫斯科没有放弃乌克兰的要求
351	has been able to take militarily.	已经能够采取军事手段。
352	Ukraine says that it's their sovereign territory.	乌克兰说这是他们的主权领土.
353	They don't want to take it.	他们不想拿它。
354	A lot of it is heavily fortified, and losing it would potentially	有很多东西是坚固的失去它可能
355	leave other areas of Ukraine open to future attack.	使乌克兰其他地区今后可以受到攻击。
356	So those do remain two huge sticking	因此,这些仍然是两个巨大的粘贴
357	points.	点。
358	Greg, thank you so much.	格雷格,非常感谢。
359	Thanks for the update.	谢谢你的更新。
360	This is Greg Sullivan with the latest on those talks taking place in Abu Dhabi.	这是最近阿布扎比会谈的格雷格·沙利文
361	Coming up on the program, U.S. Secretary of War, Pete Hegseth, he's dodged an impeachment	美国战争部长皮特·赫格塞斯上节目时他躲过了弹劾
362	effort.	努力起来。
363	More on that and what else is making headlines in our front page news next.	更多关于这一点,还有什么是我们头条新闻的头条新闻。
364	This	这个
365	is Bloomberg.	这是彭博。
366	Welcome back.	欢迎回来
367	This is The Brief.	这是简报。
368	Now, Chevron has reported its second straight	现在,雪佛龙报告了它的第二直线
369	quarter blockbuster results in its latest earnings.	季度封锁导致其最新收入。
370	不过,CFO Ima Bonner并不是
371	taking these boom times for granted.	将这些繁荣时期视为理所当然。
372	On the latest episode of Bloomberg, Chief Future	关于彭博社最新一集,未来社长
373	Officer, Bonner takes Bloomberg's Amarie Horden to the Permian Basin, where Chevron	警官,邦纳把彭博的阿玛莉·霍登带到彼尔米亚盆地,在那里雪佛龙
374	produces about a million barrels a day.	每天生产约100万桶。
375	A million barrels a day is our sweet spot because we have the factory optimized at a	一天一百万桶是我们的甜点因为我们把工厂优化在一个
376	million barrels a day.	一天一百万桶。
377	We have reliability efforts that allow us to produce at a million	我们有可靠的努力使我们生产百万
378	barrels a day with less cost.	每天桶,成本较低。
379	What does reliability mean?	可靠性是什么意思?
380	I mean, it means keeping our plant here up for the maximum amount of time.	我的意思是,它意味着保持我们的植物在这里最多的时间。
381	So avoiding	如此回避
382	unplanned events, shutdowns, issues with equipment, issues with the whales coming into the facility.	计划外的事件关机设备问题鲸鱼进入设施的问题
383	There's 27 whales coming into this facility.	有27只鲸鱼进入这个设施
384	We try and make them as productive as possible.	我们努力让他们尽可能有成果。
385	One of the ways we're doing that is putting advanced chemicals into the reservoir.	我们这样做的方法之一是把先进的化学物质放进水库。
386	And	还有
387	think of that as kind of it washes the oil from the rock.	把它当成是洗了岩石上的油
388	And so this is an area where	因此,这是一个领域,
389	we have seen over the last year, 20 percent increase in production from whales that have	我们看到去年鲸鱼产量增长了20%
390	been treated with this chemical.	用这种化学品处理过
391	It also involves keeping the facilities running at high	它还涉及使设施保持高水平运作。
392	reliability, equipment monitoring, doing turnarounds, proactive maintenance.	可靠性、设备监测、周转、主动维护。
393	All of	全体
394	those things allow the equipment behind us to operate at the right technical limits that	这些东西可以让我们身后的设备在正确的技术限度下运作
395	also contributes to reliability.	还有助于可靠性。
396	How important is that in a time of geopolitics where potentially other places are a little	在地缘政治时代,其他地方可能有点
397	bit on uncertain footing?	有点不确定吗?
398	It's critical always, but at a time where we've got disruptions around the world, at	总是很关键,但是,当我们受到干扰世界各地,在
399	a time where the U.S. is a net exporter, it's even more important.	此时美国是净出口国,这更为重要.
400	你可以看布隆伯格首席未来官由Chevron CFO Ima Bonner主演
401	That's	这是
402	tonight at nine thirty Eastern Time on Bloomberg Television.	今晚东部时间9点30分彭博电视台
403	Time now for your front page news.	现在是你的头版新闻。
404	First up on The Washington Post, the House narrowly blocked an effort to impeach Defense	首先在《华盛顿邮报》上众议院狭隘地阻止了弹劾国防的努力
405	Secretary Pete Hegseth.	皮特·赫格塞斯部长
406	Democrats who take over Congress in January have said they will	1月份接管国会的民主党人已经说过了
407	seek to use their power to remove Hegseth from office.	试图利用他们的力量解除赫格塞斯的职务
408	Next up, The New York Times reported	接下来,纽约时报报道
409	Treasury Secretary Scott Becker overnight.	财政部长斯科特·贝克过夜。
410	We will get the perspective from Citi of what	我们会从花旗那里了解
411	this means for tech investing, how this rubs up against higher inflation and the bond	这意味着技术投资如何抵消高通胀和债券
412	market moves of this week.	本周市场动向.
413	More on that shortly.	更多关于这个不久。
414	This is Bloomberg.	这是彭博社
415	It's five thirty a.m. in New York City, ten thirty a.m. here in London.	现在是纽约早上5点30分伦敦早上10点30分
416	Good晨报
417	everybody.	每个人。
418	我是Anna Edwards 和你的彭博简介。
419	Let's get you set up for the day ahead.	令诸众生安住前天.
420	Equities get a boost after stronger than expected quarterly results from Core Weave, reviving	在核心编织取得比预期的更强劲的季度成果之后,股票得到增殖,恢复活力
421	investor confidence in the AI trade.	投资者对AI贸易的信心.
422	Anthropics bankers said to be considering a higher valuation	人类学的银行家们据说正在考虑提高估价
423	for the firm's blockbuster IPO at one and a half trillion dollars or more.	公司以1.5万亿美元或更多
424	And a hot	和热
425	CPI print ramps up rate hike bets.	CPI打印坡道提高速率提高赌注。
426	Cash treasury markets are closed for Veterans Day after	退役军人现金库市场关闭
427	a surge in yields.	产量激增。
428	Quick check on the markets then, pre-market as we are.	快速检查市场,然后,我们是市场前。
429	S&P futures, NASDAQ	S&P 期货,纳斯达克
430	futures both point higher.	期货都更高
431	European futures getting a boost from the tech trade and actually	欧洲的未来从技术贸易中得到了促进,实际上
432	threatening to close at a record here in Europe.	威胁要结束欧洲的纪录
433	Meanwhile, U.S. futures do point higher.	与此同时,美国的未来的确指向更高的方向.
434	Those	这些
435	markets are getting some comfort overnight to the markets.	市场在一夜之间得到了一些舒适的市场。
436	And broadly speaking, in the futures	大致来说,未来
437	market around bonds, we do see a continuation of the higher yield story that was so dominant	在债券的市场中,我们确实看到高收益故事的延续如此主导
438	yesterday after that that higher than expected inflation report.	之后昨天,通货膨胀报告高于预期。
439	Let's get some stocks to	我们拿些股票来
440	watch today.	今日观.
441	这是Olivia Lafue。
442	Hi, Anna.	嗨,安娜,你好吗?
443	Yes, every single part of the AI trade is	是的,AI贸易的每一个部分都是
444	getting a boost today from neoclouds to server and memory providers to data center industrial	从新云到服务器和内存提供商到数据中心工业
445	players.	玩家们
446	Every facet is gaining.	每一个方面都在增加。
447	And that's in large part, as you mentioned, due to the	这在很大程度上,正如你提到的,因为
448	solid set of results that we got from CoreWeave.	我们从CoreWeave那里得到的坚实的成果
449	They upped their guidance for the year and	他们在这一年中加强了他们的引导,
450	reported a solid set of third quarter sales.	3季度的销售量
451	Both of those prints coming in ahead of Wall	墙前的两张指纹
452	Street estimates and really helping to calm investor nerves about the debt laden business	街道估计和真正帮助平息投资者的神经关于负债累累的企业
453	CoreWeave目前正在运行
454	Speaking to investors today, they're pointing out the	他们今天跟投资者谈话时指出
455	fact that short interest in CoreWeave was quite high and also the fact that it's just	对CoreWeave的短短兴趣相当高,而且只是
456	this is just relief.	这仅仅是解脱。
457	We're seeing relief across the board from investors today.	我们今天看到投资者的全方位解脱.
458	Another	又一个
459	sector of the or sect of the AI trade that's strong today is photonic stocks.	AI贸易中今天很活跃的光子股票
460	Momentum	时刻
461	there continuing from yesterday.	从昨天就开始了
462	We had strong results from Japanese peer Hamamatsu regarding	我们从日本同行Hamamatsu那里得到了有力的结果
463	a strong demand continuing for photonics with regards to data centers.	在数据中心方面,对光学的强烈需求仍在继续。
464	So you're seeing	所以你看见了
465	coherent and momentum strong off the back of that.	紧紧地紧紧地压下去
466	One stock that's not happy today,	今天不开心的股票
467	contrary to its name bright view, their fourth quarter results were disappointing and their	与其名称的明亮观点相反,他们第四季度的结果令人失望,他们
468	guidance also underwhelmed investors.	指导也使投资者陷入困境。
469	Stock is down 17 percent.	股票下降了17%。
470	So perhaps underwhelmed	所以也许下沉
471	is a bit of an under exaggeration there.	有点夸张
472	They seem to be very, very disappointed with the	他们似乎非常非常失望
473	results.	结果。
474	Yeah, bit of an understatement, not such a bright view.	是啊,有点少说, 不是这么明亮的景色。
475	Olivia, thank you very	奥利维亚,谢谢你
476	much.	非常喜欢
477	Olivia, the view with the latest on the stocks we're watching this morning.	Olivia 今天早上我们看的股票最新风景
478	Now	现在
479	a tech rally is lifting stocks higher, as Olivia was pointing out, following strong	正如Olivia指出的, 科技集会正在提高股票,
480	CoreWeave和OpenAI的季度结果。
481	So that's the back story.	这就是背后的故事。
482	Feeling	感觉
483	better about technology this morning.	今天早上科技比较好
484	Let's bring into the conversation then Olaolu Agango,	让我们把奥拉奥卢·阿甘戈带到谈话中
485	who is head of portfolio construction and analytics at Citi.	他是花旗投资组合建设和分析的负责人。
486	Very nice to have you with	很高兴你陪我
487	us, Olaolu.	我们,奥拉奥卢。
488	Your thoughts then on AI post the midterms, but in the context of all the	你对AI的想法贴出了中期, 但在所有背景
489	volatility we've seen in markets, a sell off followed by something of a rebound.	市场波动, 出售,然后是反弹。
490	Where	何处
491	does that leave you and your expectations around AI investment?	这是否让你和你对AI投资的期望落空了?
492	Well, thank you so much	谢谢
493	for having me.	感谢有我。
494	I mean, we say elections create volatility, but really it's the fundamentals	我的意思是,我们说选举造成波动, 但实际上这是基本
495	that drives long term results and the volatility last week.	这推动着长期的结果和上星期的波动。
496	You know, we can't underscore it	你知道,我们不能强调它
497	in the data that we look at.	我们所研究的数据。
498	We're looking at the VIX going back to 1990 and it was the	我们正在寻找VIX 回溯到1990年,这是
499	third highest one day percentage change in the VIX.	VIX的1天百分比变化第三高。
500	So like that puts it in context.	所以,这样就把它放在背景上。
501	A lot of volatility, but if we go back to earnings again, long term fundamentals is driven,	很多波动,但如果我们再次回到收入, 长期的基本要素驱动,
502	you know, by earnings were 80% of the way through more than 80% of the way through.	你知道,通过收入是80% 通过超过80%的方式。
503	We are seeing	我们看见了
504	30% year-over-year earnings growth for what has been reported thus far recent earnings included.	迄今所报告的最近收入的年比收入增长30%。
505	It's been outstanding is the third consecutive quarter of over 25% year-over-year earnings	连续第三季度超过25%的年收入
506	growth.	增长。
507	It is the eighth consecutive quarter of double digit earnings growth.	这是两位数收入增长的连续第八季度。
508	So where does that	那么,这是哪里
509	put us just with, you know, valuations overall for the S&P?	我们只是用,你知道的, 总体评估S&P?
510	It's about 18 times.	约十八遍.
511	It's not expensive.	不贵.
512	It's the lowest it's been in roughly three years.	这是大约三年来最低的
513	So we like the market here.	所以我们喜欢这里的市场。
514	We continue to like	我们继续喜欢
515	the market here.	这里的市场。
516	Last week it was market trying to predict policy and it's a hard game to predict.	上周市场试图预测政策很难预测
517	Okay, so PEs make things look attractive.	好吧,所以PEs 使事情看起来有吸引力。
518	Valuations are attractive.	估价很有吸引力。
519	Then you say,	然后你说,
520	I mean, some skeptics point to the earnings side of that PE and say, we're just not quite so	我的意思是,一些怀疑论者指出收入方面PE,说,我们只是不是那么
521	confident in that as we used to be.	对我们以前一样有信心
522	And maybe analysts haven't caught up with the political	可能分析师没有赶上政治
523	developments that we now anticipate in 2027 post the midterms, a slower rollout of data centers,	目前我们预计在2027年中期之后出现的事态发展,数据中心的推出速度放慢,
524	essentially.	基本上说
525	If we do see that slowing down, does that undermine the earnings story or not materially?	如果我们确实看到这种减速,那是否会损害收入的故事?
526	So yes, elections happened last week.	因此,是的,选举在上周举行。
527	Regardless of the party that are in power,	无论哪个政党执政,
528	a couple of things that, you know, you really can't change.	几件事,你知道, 你真的不能改变。
529	I'll talk about deficits in a second,	我一会儿再谈赤字问题
530	but AI is one, I was joking with some of the other day, you can't put the genie back in the bottle.	但AI是其中之一, 我开玩笑某天,你不能把精灵回到瓶。
531	They are between 3,000 and 5,000 data centers in the US.	美国有3 000至5 000个数据中心。
532	You can't have AI without data centers.	没有数据中心,你就不能有AI。
533	Those 3,000 and 5,000 are operating data centers and they're an equal amount.	这三千和五千个在运行数据中心它们的数量是相等的
534	They're in different	他们不一样
535	stages of planning.	规划阶段。
536	Now, yes, we have an election.	现在,是的,我们有一个选举。
537	There are government officials.	有政府官员.
538	There are some	有几个
539	states that are reluctant or hesitant around the development of data centers.	(c) 在开发数据中心方面不情愿或犹豫不决的国家。
540	But there are also	但是还有
541	some government officials in states that are very pro data centers.	一些政府官员在州那些非常支持数据中心。
542	At the end of the day,	临终时.
543	it is a state by state legislation.	根据州立法,它是一个州。
544	If there is apprehension or pushback, and once that you just	如果有恐惧或退缩,一旦你
545	go to another state and you build, you know, there are also jokes that can build in space.	去另一个州,你建造,你知道, 还有一些笑话可以建立在空间。
546	But regardless of which, you still need cybersecurity.	但不管是什么你仍然需要网络安全
547	So that's a big component of AI.	这是AI的一大部分。
548	You still need critical minerals.	你还需要关键的矿物
549	You need copper.	你需要铜。
550	You need steel.	你需要钢铁
551	You need aluminum.	你需要铝。
552	You need a number of other things that are persistent regardless of the election and the,	你需要一些其他的坚持不懈的东西无论选举和,
553	you know, quote unquote slowdown.	要知道,引出未引用的减速。
554	For us in our portfolios, we're overweight cybersecurity.	对于我们的投资组合来说, 我们超重的网络安全。
555	We're overweight some of those critical metals that you need in order to construct data center	我们超重一些关键金属,你需要建造数据中心
556	art of the infrastructure build out.	基础设施的艺术建设。
557	And so are you expecting to see a slowdown in AI capex?	所以你想看AI卡佩斯减速吗?
558	And if so,	如果是的话
559	is that going to be what we want?	这就是我们想要的吗?
560	Because I wasn't sure through the last earnings season,	因为我在上个收入季节都不确定
561	whether as an investor community, we were comforted by high capex or slightly disturbed by it.	无论是作为一个投资社区, 我们感到安慰高顶帽或稍为不安。
562	So there are two components, right?	所以有两个组件,对不对?
563	So the capex is necessary in the early stages of any innovation.	因此,在任何创新的早期阶段,盖帽是必要的.
564	We expect that to slow at some point.	我们希望这在某个时候会减缓。
565	It's not concerning for us.	这跟我们无关
566	One company's capex is another	一家公司的顶盖是另一家
567	company's revenue.	公司收入。
568	And that's, again, just the initial part.	这是,再次,只是初始部分。
569	But if you think of the life cycle	但是如果你想到生命周期
570	this innovative technology that we have, we're just in the early innings of it.	我们掌握的这种创新技术, 我们刚刚进入早期。
571	So we're talking	这么说吧
572	about the hyperscalers.	关于超标的。
573	We're talking about data centers.	我们说的是数据中心
574	Yes.	对
575	But arguably we have not seen the	但可以说我们没有看到
576	productivity gains yet for the vast majority of companies with regards to AI.	在大赦国际方面,绝大多数公司的生产率都有所提高。
577	And that in and of	和这个在和
578	itself is an additional boost.	它本身就是一个额外的推动力。
579	So whilst yes, capex we do expect to slow at some point with	所以,虽然是的,盖顶我们期望在某个时候减缓与
580	earlier or later, frankly, is not really the key driver.	坦率地说,早或晚并非真正的关键驱动力。
581	The key driver is once the infrastructure	关键驱动力曾经是基础设施
582	is in place, the productivity gains and benefits that we expect to see for the broader corporate	生产率的提高和效益,我们期望看到更广泛的公司
583	universe is still expected to be able to drive long term earnings and growth.	宇宙仍然可望能够推动长期收入和增长。
584	OK. And that might	摆也许
585	have an impact on inflation.	影响通货膨胀。
586	Talking of inflation, that data taking some of the market by surprise,	谈到通货膨胀, 数据占据了一些市场惊喜,
587	moving the bond market substantially, particularly at the short end.	大力推动债券市场的发展,特别是在短期。
588	Let's just have a listen to how	让我们听听如何
589	the Chicago Fed, of course, how he captured the mood around that CPI print.	当然,芝加哥美联储, 他如何抓住周围的情绪在CPI打印。
590	It's another distressing report, borderline disturbing.	这是另一个令人不安的报告, 边界扰动。
591	So we've got a real inflation	所以,我们有一个真正的通货膨胀
592	issue on our hands that has been developing and we're going to have to deal with that.	我们手上的问题, 一直在发展, 我们将不得不处理。
593	Borderline disturbing for Gullsby.	格尔斯比的边界线干扰。
594	How did it impact your thinking around fixed income?	如何影响你对固定收入的思考?
595	I mean, are you factoring in a higher inflation for longer environment, not just on the back	我的意思是,你是否考虑一个更高的通货膨胀对于更长的环境, 不只是背面
596	of yesterday's print, but more broadly thinking about U.S. inflation?	更广义地思考美国通货膨胀?
597	So I will say our view,	所以我要说我们的观点,
598	and I think we have a fairly non consensus view, our view is that inflation will run hotter than	我认为我们有一个相当非共识的观点, 我们的观点是,通货膨胀会比
599	consensus is thinking and that really by not hiking at the last FOMC meeting, the Fed is	美联储在考虑美联储没有在FOMC上次会议上徒步旅行
600	setting themselves up to be behind the curve.	设置自己在曲线后面。
601	CPI print yesterday came in higher now, you know,	CPI昨天的印刷品更高现在,你知道,
602	month over month type of readings can be volatile.	一个月多的读数可能不稳定。
603	But the share of CPI components that are rising at	但是,消费物价指数组件的份额正在上升。
604	5% or faster jumped to 56% in October.	在10月份,5%或更快地跃升到56%。
605	It was up from 44% in September.	这比9月份的44%有所增加。
606	So October share is the	所以十月份额是
607	highest since 2022.	自2022年以来最高.
608	So yes, we do think inflation is a concern.	因此,我们确实认为通货膨胀是一个问题。
609	Now, with regards to fixed income,	关于固定收入
610	we've been saying this for some time, the Fed and the Fed share have made it very, very clear that	美联储和美联储已经说得很清楚了
611	price stability and bringing in inflation is a number one priority for them.	价格稳定和带来通货膨胀是它们的首要优先事项。
612	And we're not there	我们不在那里
613	yet.	还没有。
614	As a result of that, you couple where we are with inflation, the signaling or, you know,	因此,你和通货膨胀信号或,你知道,
615	they don't do signaling, but they've been very overt with regards to that, we expect rates to	他们不做信号, 但他们一直非常公开关于这一点, 我们期望费率
616	go higher.	再高一点
617	As a result of that, earlier in the year, and actually recently as well, we've adjusted	因此,今年早些时候,以及最近,我们做了一些调整
618	our duration position.	我们的期限位置。
619	So we moved from our mid and trend our mid and longer term duration,	因此,我们从我们的中期和趋势中长期,
620	and we're a shorter duration fixed income instruments.	而且我们是更短的固定收入工具
621	Why?	为什么?
622	Because we wanted to be	因为我们想成为
623	able to try and insulate ourselves somewhat from the moves that we're expecting in the back end.	能够尝试和隔离我们自己与我们期待的动作在后端。
624	We also, and this has been quite some time, we've allocated and added to gold other areas that can	我们还,这已经相当长的时间, 我们分配和增加了黄金其他领域可以
625	increase the balance in portfolios, because with regards to fixed income, we do believe it's going	增加投资组合的平衡, 因为对于固定收入,我们确实相信这是去
626	to be challenging, continues to be volatile.	挑战性强,仍然不稳定。
627	Alalu, thank you very much.	阿拉鲁,非常感谢
628	Alalu Agunga,	阿拉卢·阿贡加
629	thank you for your time from Citi.	谢谢你从花旗来的时间。
630	Good to get your perspective on the program.	很高兴你对节目的看法
631	Now to other top stories that are trending on the Bloomberg terminal this morning.	现在,到其他顶级故事正在流行在彭博终端今天上午。
632	Iran says it will	伊朗说会的
633	not remove a single atom of enriched nuclear material from the country.	不从该国清除一个浓缩核材料原子。
634	In an interview with	在接受采访时
635	the pan-Arab TV network, Al Mayadeed, Iran's Supreme National Security Council secretary said	泛阿拉伯电视网伊朗最高国家安全委员会秘书Al Mayadeed说
636	Iran has informed Russia that its enriched material will remain in the country for domestic use.	伊朗已通知俄罗斯,其浓缩材料将留在该国供国内使用。
637	He said the material is required to design nuclear-powered ships and submarines.	他说这些材料是设计核动力舰艇和潜艇所需的.
638	Prices	价格
639	of baby food and formula in the United States surged by the most on record in October, rising	美国的婴儿食品和配方奶粉在10月份激增,创纪录,上升
640	by about five percent.	大约5%。
641	A combination of factors are likely contributing to the increase in formula	各种因素可能促使公式增加
642	prices, including higher costs for ingredients and transportation inflation.	(a) 价格,包括原料成本较高和运输通货膨胀。
643	BYD has apologized	BYD已经道歉了
644	after some of its great Tang electric SUVs were assembled with their front and rear wheel rims	之后,它的一些伟大的唐式电力SUV 组装了它们的前轮和后轮轮圈
645	reversed.	倒转。
646	The automaker traced the mistake to a supplier and says the affected vehicles are safe	汽车制造商追踪到一个供应商说受影响车辆是安全的
647	to drive.	开车
648	BYD is offering replacement rims and restarting the warranty period.	BYD提供替换轮廓并重启保修期.
649	Coming up on the	马上就来
650	program, a bumpy relation.	程序,一个模糊的关系。
651	The U.S. ambassador to China calls for diligence when dealing with	美国驻华大使呼吁在与
652	the Nvidia affair.	恩维迪亚事件
653	More on that next.	接下来会有更多
654	This is Bloomberg.	这是彭博社
655	We are establishing a direct channel	我们正在建立一个直接渠道
656	to ensure that either nation can promptly alert the other to serious incidents involving its	确保任何国家能够迅速向对方发出警告,提醒对方注意涉及其经济、社会和文化权利的严重事件。
657	models.	模特儿们
658	As SI advances, so will the need to engage in new areas of risk management and to demonstrate	随着职业分类的推进,参与风险管理新领域和展示的必要性也将取得进展。
659	how our two great nations can reconcile the demands of competition with the responsibilities	我们两个伟大国家如何能够调和竞争要求与责任
660	of leadership.	领导权。
661	That was Treasury Secretary Scott Besson hailing an improvement in U.S.-China	这是财政部长斯科特·贝松欢呼美国和中国的改善
662	engagement at an event in New York.	在纽约参加一个活动。
663	Meanwhile, U.S. ambassador to China, David Perdue, stayed	与此同时,美国驻华大使大卫·佩杜埃留了下来
664	more cautious.	更谨慎
665	He spoke exclusively to Bloomberg.	他只和布隆伯格谈话.
666	Stephen Engle.	斯蒂芬·恩格尔.
667	I think the situation with Nvidia	我想恩维迪亚的情况
668	is another reminder that we have to stay diligent.	再一次提醒我们必须坚持不懈。
669	National security is part of this economic	国家安全是经济的一部分
670	conversation because economic security is national security.	因为经济安全是国家安全
671	And so what we're doing with China is	所以,我们做的中国
672	bumpy right now.	现在很尴尬
673	We have some areas of disagreement, but we have engagement.	我们有一些分歧,但我们有接触。
674	Joining us now from	从现在开始加入我们
675	Washington, Mika Solna of Bloomberg government.	华盛顿,彭博政府的米卡·索尔纳.
676	Mika, good to get your perspective.	美嘉,你的观点真好
677	Thanks for	谢谢
678	taking us through this story and a number of others.	带我们通过这个故事和其他一些。
679	Let's start with this then, U.S.-China	先这样吧,美国中国
680	relations.	关系
681	And it's interesting, the language coming from the U.S. envoy to China, relations	有趣的是,来自美国驻华使节的语言,关系
682	are bumpy after the Nvidia affair.	在恩维迪亚事件后变得很颠簸
683	At another time, you might imagine that what we've seen from	在另一个时间,你可能会想象我们所看到的
684	Nvidia and the scandal around that alleged spy, that might have resulted in a lot more outspoken	Nvidia和关于那个间谍的丑闻可能更直言不讳
685	language from Capitol Hill.	国会山的语言
686	Do you get the sense that the Republicans or the leadership are just	你是否感觉到共和党或领导层只是
687	trying to play this down because we're approaching this important meeting?	因为我们正接近这个重要会议?
688	Yeah, I mean, I would say	是啊,我的意思是,我会说
689	the response, at least from both the White House and the overall administration, has been pretty	至少白宫和整个政府的反应都不错
690	tame so far in light of these allegations with Jensen Huang.	根据黄詹森的这些指控驯服至今
691	I know that the president has said,	我知道总统说过,
692	has addressed the issue on the heels of his meeting next week in China.	下星期他在中国举行会议之后,已经谈到这个问题。
693	But I do think that	但我确实认为
694	this is going to create a lot of tension, as we just heard David Perdue say.	正如我们刚才听到大卫·佩杜伊所说,这将造成许多紧张。
695	And I do think that	我觉得
696	could potentially bleed into that meeting when it comes to those national security issues.	在涉及国家安全问题时,可能流血而死。
697	We have to remind our audience that the president has become extremely close with Jensen Huang	我们必须提醒观众总统已经和黄詹森很亲密了
698	as he kind of continues this AI race between the U.S. and China.	他继续美国和中国之间的AI比赛
699	And on another subject, but obviously in Washington, House Republicans have been trying	而在另一个主题上, 但显然在华盛顿, 众议院共和党人一直在尝试
700	to impeach Pete Hegseth, or at least a number have, but others have stood in the way of that	弹劾Pete Hegseth, 或至少几个人有, 但其他人却阻止了这一点
701	effort.	努力起来。
702	When things change in January, that might lead to a different outcome.	当1月情况发生变化时,可能导致不同的结果。
703	What have we learned	我们学到了什么
704	from this process?	从这个过程?
705	Yeah, definitely.	当然
706	I mean, I think it still shows that a lot of Republicans	我的意思是,我认为它仍然显示很多共和党人
707	are really hesitant to break with President Trump and the administration in any way.	与川普总统及政府决裂,
708	I spoke with	我和他谈过了
709	more than a dozen House Republicans yesterday, both about the impeachment vote and just the	昨天十多名众议院的共和党人既谈弹劾投票也谈
710	overall outcome of the midterms and how they're feeling about President Trump, if they blame him	以及他们对特朗普总统的感受,
711	at all for the stinging losses that Republicans faced both in the House and Senate and in those	共和党在众议院和参议院以及参议院都面临巨大的损失
712	prize races.	比赛奖金。
713	And a lot of them are really reluctant to place any blame on the president,	很多人都不愿意把任何责任归咎于总统
714	which I think still shows that this administration has a stronghold, especially in this lame duck	我认为它仍然显示这个政府有一个据点, 特别是在这个跛脚的鸭子上
715	period heading into December, where Republicans are really going to try and pass the last of the	在12月,共和党人将尝试和通过最后一个
716	president's agenda.	总统的议程。
717	They see it as their last opportunity to get everything they can before	他们认为这是他们最后的机会得到所有他们以前能做的
718	this total democratic takeover.	这个完全民主的接管。
719	But you're absolutely right that we may see this come again,	但你绝对是对的,我们可能会看到这又来了,
720	as well as potential other impeachments next Congress, which have a greater chance of passing.	以及可能发生的其他弹劾下届国会, 他们有更大的可能通过。
721	Right.	对
722	Yes, that'll be an interesting pivot to watch.	是的,这将是一个有趣的中枢观看。
723	Now, Russia and Ukraine,	现在,俄罗斯和乌克兰,
724	they're talking in Abu Dhabi.	他们在阿布扎比说话
725	How are those conversations?	这些谈话怎么样?
726	Obviously, the U.S. is there	显然,美国在那里
727	and leading those talks.	并领导这些会谈。
728	How are those talks being viewed from Washington?	华盛顿对这些会谈的看法如何?
729	Yeah, I think that there's optimism in Washington overall, at least in Capitol Hill.	是的,我想华盛顿是乐观的, 至少在国会山。
730	And the White	还有白色
731	House was very eager and has remained eager to try and progress these peace talks.	豪斯非常渴望,并且一直渴望努力推动这些和平谈判。
732	But I do think	但我确实认为
733	there's also a lot of skepticism.	也有很多怀疑论.
734	And this war has been ongoing for years now.	这场战争已经持续多年了
735	The Trump	特朗普号
736	administration and the president have said that they would swiftly end this conflict,	当局和总统说,他们将迅速结束这场冲突,
737	but it's been a lot more complicated.	但事情已经复杂得多了
738	And we're seeing this in a lot of the other global conflicts	我们在其他许多全球冲突中都看到了这一点。
739	that the president has weighed into extensively and even created, including the war in Iran,	总统已经深入,甚至制造, 包括伊朗战争,
740	that these are a lot more complicated.	更复杂一些
741	And this will be the resumption of talks after a very long	这将是在很长一段时间后恢复会谈
742	period that was kind of stalled and heading into kind of this rockier period between Ukraine and	进入乌克兰与乌克兰之间的一段时期
743	U.S. in particular, in light of some comments that were made by U.S. officials regarding	特别是美国,鉴于美国官员就
744	Russian President Vladimir Putin.	俄罗斯总统弗拉基米尔·普京.
745	Mika, thanks very much.	美嘉,非常感谢
746	Mika Solna of Bloomberg Government,	彭博政府的米卡·索尔纳
747	thank you very much for your time.	非常感谢你的时间。
748	Now, one stock we're keeping a firm eye on, of course,	现在,一个股票,我们正在牢牢监视, 当然,
749	is CoreWeave, its earnings giving a boost to the market with a strong quarter and a rosy forecast.	CoreWeave的收入以强劲的季度和优美的预测为市场提供了动力。
750	Let's get the perspective of Matt Bloxham from Bloomberg Intelligence.	让我们从彭博情报部了解马特·布洛瑟姆的观点.
751	Well, there you go,	好了,给你,
752	pre-market up by nearly 14 percent there, Matt.	马特,在上市前涨了近14%
753	This was an epicenter of market concern some	这是市场关注的中心
754	weeks ago.	几个星期前
755	Now it seems to be acting as a comfort.	现在它似乎是一种安慰。
756	NASDAQ futures up really quite healthily,	纳斯达克的未来非常健康,
757	partly on the back of the guidance we're getting here.	部分的背面我们得到的指导在这里。
758	Yeah, I mean, definitely the guidance was	是啊,我的意思是, 绝对的指导是
759	helpful, you know, modest upgrade to the full year revenue and profit.	帮助,你知道, 适度升级到全年的收入和利润。
760	For me, the more interesting	对我来说,更有趣
761	point was the commentary around the sources of funding in the near term.	关于近期筹资来源的评论是这一点。
762	We'll see one of the	我们会看到一个
763	problems with CoreWeave recently has been that big spike in yields because of the question marks	最近CoreWeave的问题是因为有问题
764	about how they can fund this massive rollout.	他们如何资助这次大规模推出。
765	It's going to be a cash flow negative company,	这将是一个现金流负公司,
766	at least the next three or four years, according to consensus.	根据共识,至少今后三四年。
767	And the CEO said that they're going	总裁说他们要去
768	to get about nine billion dollars of prepayment funding from their customers and that they've got	从客户那里得到90亿美元的预付资金并且他们得到了
769	a delayed drawdown investment grade facility in the pipes, too.	管道投资级设施也推迟缩编。
770	So we don't need to go and tap	所以,我们不需要去敲打
771	expensive debt to keep funding the business in the term.	高额债务继续资助企业在期限。
772	And for me, that's like a very important	对我来说,这就像一个非常重要的
773	signal for the company to give.	给公司的信号
774	Because this company isn't typical.	因为这个公司并不典型.
775	So we get comfort from	我们从这里得到安慰
776	the top line demand forecasts, maybe.	顶线需求预测,也许。
777	But they're not typical in terms of the debt story, are they?	但他们在债务故事上并不典型,是吗?
778	No, they're not.	不,他们不是。
779	It's quite a complicated debt structure.	这是一个相当复杂的债务结构。
780	And some of the unsecured debt	和一些无担保债务
781	spiked as much as 15% yields recently because there are these question marks about the kind	最近产量猛增15%,因为有关于此类的疑问
782	of mismatch between revenue and profit growth, but the amount of capital investment they're making	收入和利润增长之间的不匹配, 但他们的资本投资额
783	near term, you know, tens of billions of dollars of cash outflow.	不久,你知道, 数百亿美元的现金流出。
784	And how do you continue to fund	你如何继续资助
785	that?	那个?
786	And what's the trajectory towards cash flow break even?	现金流断流的轨迹是什么?
787	What about Anthropic then?	那安东尼呢?
788	Also	还有
789	getting some comfort there, are we, from this talk, certainly in other media, about just how	在那里得到一些安慰, 我们,从这个演讲, 当然在其他媒体,
790	high the valuation could go here?	高的估价可以在这里吗?
791	Not as high as some of the really elevated levels we've previously	不如以前一些真正高的水平
792	seen, but talk us through these latest numbers.	说说最新数字
793	Yeah, I mean, it's been a bit of a journey for them	是啊,我意思是, 对他们来说,这是一个有点旅行
794	in the last few weeks, hasn't it?	过去几周,不是吗?
795	You know, I'll say that the news today that maybe the bankers	你知道,我会说,今天的消息, 也许银行家
796	are looking to push the valuation up towards 1.5 trillion, you know, still a long way short,	想要将估值推向1.5万亿美元, 你知道,仍然很短,
797	the two trillion that people were talking about not so long ago, but much better than the 1.2 to	不久前人们谈论的两万亿, 但比1.2到0.
798	1.3, that they're kind of essentially the baseline, if you like, of the IPO.	1.3,它们基本上是IPO的基准,如果你喜欢的话。
799	It's really down to the	这真的下到
800	manhood team to kind of go and see investors give a very convincing pitch about the fundamentals,	男子气概的团队去看看投资者给出一个非常有说服力的投注关于基础,
801	the size of the addressable market, their sustainable profitability path, you know,	可以解决的市场规模, 他们的可持续盈利路径,你知道,
802	the moat they've got around the business.	护城河他们有围绕生意。
803	That's really what's going to, you know,	这才是真正的,你知道,
804	test investors' appetite.	测试投资者的胃口。
805	And I guess they're probably keeping their fingers crossed that we	我猜他们可能保持他们的手指交叉,我们
806	have a week without too many more or any more unexpected, negative bits of news around the	一个星期没有太多或更多意外的负面新闻
807	broader industry.	扩大工业范围。
808	Yes, and perhaps they'll be pleased with some of the positive news we've had	是的,也许他们会很高兴我们有一些积极的消息
809	甚至从OpenAI。
810	So some comfort perhaps on the ability to monetise the business?	所以,也许有些安慰能力货币化的业务?
811	Is that	这是
812	what we should read into the revenue numbers there?	我们该读到那里的收入数字吗?
813	Yeah, I think so.	是的,我想是这样。
814	OpenAI出来了,
815	reportedly told investors that Q3 revenue was about 10 billion, about 50% up sequentially,	据报道,告诉投资者,Q3的收入约为100亿,相继上升了50%左右,
816	和我们从Anthropic听到的一样
817	Anthropic的Q3号码很多
818	bigger, 17 billion dollars.	更大的,170亿美元。
819	What it showed you is OpenAI has pivoted into the same enterprise AI	显示OpenAI是同一企业的支柱AI
820	opportunity that Anthropic's really focused on.	安特罗皮克真正关注的机会
821	It suggests there's plenty of demand there.	这表明那里有很多需求。
822	They're also kind of improving their kind of profitability trajectory too.	他们的利润轨迹也有所改进。
823	So yeah,	所以,没错,
824	it's a positive data point.	这是一个正数据点。
825	I think it should in theory at least be a big enough market,	我认为从理论上讲,它至少应该是一个足够大的市场,
826	big enough market for both of these companies to grow substantially from where they are today.	这两家公司的市场都足够大,可以从今天开始大幅度增长。
827	Matt, thank you very much.	马特,非常感谢
828	Matt Bloxham from Bloomberg Intelligence with all those tech	彭博情报部的马特·布洛瑟姆
829	themes.	主题。
830	Coming up, your day ahead.	马上就来,你的未来。
831	That's next.	这是下一个。
832	This is Bloomberg.	这是彭博社
833	Welcome back to The Brief.	欢迎回到《简报》
834	Now a look at what is ahead for today.	现在看看今天的前景。
835	A host of Fed speak including Hammock, Barr,	包括哈莫克,巴尔,
836	Daly and Schmid.	达利和施密德.
837	Throughout the day we get that commentary coming from those Fed speakers.	整天我们从那些美联储演讲者那里得到评论
838	OPEC will be out with its monthly oil report.	欧佩克将发表月度石油报告。
839	That's later this morning.	今晨过后.
840	And the cash treasury	还有现金库
841	market is closed, of course, in observance of Veterans Day.	当然,为了纪念退伍军人日,市场是关闭的。
842	Certainly wasn't closed yesterday.	昨天当然没有关门
843	More on that in just a moment.	过一会儿再谈
844	Let's have a look at some of these macro movers for you.	让我们来看看这些大型移动器。
845	And in fact, thinking about yesterday and the big moves that we saw higher in yields,	事实上,想想昨天和我们看到的产量较高的大动作,
846	certainly at the two-year horizon, also at the five-year went over 5% on 10-year yields at one	当然,在两年的时间内,五年的产量在十年的产量中超过了5%。
847	point.	点。
848	Well, we see a continuation of that trajectory and Wednesday's futures picture	我们看到轨迹的延续和周三的未来
849	waiting for cash trade tomorrow.	等待明天的现金交易。
850	The broader futures picture for equities looks pretty positive.	更广阔的股票期货前景看起来相当乐观。
851	We're up by 1.9% on NASDAQ futures.	纳斯达克期货涨1.9%.
852	Thinking about where we go on the core.	想着我们往哪里去
853	We've story and	我们的故事和
854	profit.	利润。
855	All of that offering a little bit of comfort around that AI tech narrative.	所有这一切为人工智能技术说明提供了一点安慰。
856	Quick look at where we are on commodities.	快看看我们在商品方面的情况。
857	Brent prices moving a little bit higher.	布伦特的价钱涨了一点
858	Gold prices move a little bit higher.	黄金价格上升了一点
859	Brent and WTI, of course, focused on developments in the	当然,布伦特和世界投资倡议的重点是:
860	Middle East.	中东。
861	The Iranians taking a tough line on enrichment of uranium.	伊朗人在铀浓缩问题上采取强硬立场.
862	The gold price is perhaps	金价或许是
863	more focused on CPI and the trajectory for Fed interest rates.	更注重消费物价指数和美联储利率的轨迹。
864	That is it for Bloomberg Brief.	这是为彭博简介。
865	Surveillance is a hedge.	监视是一种篱笆。
866	This is Bloomberg.	这是彭博社

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P2 · 【中英字幕】彭博财经简报26.11.11 p02 【英字&原声】 (P2)

【中英字幕】彭博财经简报26.11.11 p02 【英字&原声】 (P2)

发布于 2026-11-12 · 时长 42:13

字幕摘录

时间	英文	中文
0:14	It's 5 a.m. in New York City, 10 a.m. here in London.	现在是纽约早上5点伦敦早上10点
0:17	Good morning, everybody.	早上好,大家好,谢谢
0:18	I'm Anna	我是安娜,我叫安纳
0:18	Edwards with your Bloomberg Brief.	爱德华兹与你的彭博简介。
0:20	Let's get you set up for the day ahead.	令诸众生安住前天.
0:22	Equities get a boost after stronger than expected quarterly results from CoreWeave, reviving	在核心网络的季度结果比预期的要强之后,股票得到增殖,恢复活力
0:27	investor confidence in the AI trade.	投资者对AI贸易的信心.
0:30	Andropix Bankers说正在考虑提高估价
0:33	for the firm's blockbuster IPO at $1.5 trillion or more.	以1.5万亿或更多美元的价格买下公司的IPO
0:38	And a hot CPI print ramps up rate	热的CPI打印率上升了

展开字幕全文（565 条）

序号	英文	中文
1	It's 5 a.m. in New York City, 10 a.m. here in London.	现在是纽约早上5点伦敦早上10点
2	Good morning, everybody.	早上好,大家好,谢谢
3	I'm Anna	我是安娜,我叫安纳
4	Edwards with your Bloomberg Brief.	爱德华兹与你的彭博简介。
5	Let's get you set up for the day ahead.	令诸众生安住前天.
6	Equities get a boost after stronger than expected quarterly results from CoreWeave, reviving	在核心网络的季度结果比预期的要强之后,股票得到增殖,恢复活力
7	investor confidence in the AI trade.	投资者对AI贸易的信心.
8	Andropix Bankers说正在考虑提高估价
9	for the firm's blockbuster IPO at $1.5 trillion or more.	以1.5万亿或更多美元的价格买下公司的IPO
10	And a hot CPI print ramps up rate	热的CPI打印率上升了
11	Mike Betts.	麦克贝茨。
12	Cash treasury markets are closed for Veterans Day after a surge in yields.	现金库市场在收益激增后关闭,用于退伍军人日。
13	Let's get a check on the markets then around the world.	让我们检查一下市场然后在世界各地。
14	Here's Winnie Hsu in Hong Kong	香港的荣氏
15	for the latest on the Asia trade.	最近关于亚洲贸易的情况。
16	Winnie.	荣曰.
17	Yeah, good morning, Anna.	是的,早上好,安娜,你好吗?
18	Well, as you mentioned,	嗯,如你所说,
19	we are seeing pretty positive sentiment in Asia today and actually Asian stocks rising	我们今天在亚洲看到相当积极的情绪和实际上亚洲的股票上升
20	for a third day, headed for its best three days gains since August.	进入8月份以来最好的三天
21	Now, as you mentioned,	现在,正如你提到的,
22	we have the better than expected results from CoreWeave that really reassured investors	我们的CoreWeave结果比预期的要好能让投资者放心
23	that the AI computing demand is still very strong.	AI计算需求仍然非常强烈.
24	还有 FT报道说 Andropix
25	Bankers are considering a raising IPO valuation for the company.	银行家们正在考虑提高公司IPO的估值。
26	So that together you are	所以你们在一起
27	seeing tech stocks in Asia leading gain index here up by about 3.6 percent, also being lifted	亚洲的科技存量领先增长指数上升了3.6% 也正在被取消
28	by the gains that we saw in TSMC.	由我们在TSMC中看到的成果。
29	Of course, we did have that 60 percent jump in revenue	当然,我们确实有 60%的收入跳跃
30	for October.	为十月.
31	And plus the company saying that it is investing 500 million dollars each in	再加上公司说投资5亿美金
32	Andropix and OpenAI.	安德罗皮克斯和OpenAI.
33	Now, Flipboard and take a look at the bond space because we are seeing	现在,翻板,看看债券空间,因为我们看到
34	the impact from that, hotter than expected US CPI numbers raising the expectation for	因此,美国消费物价指数的热度比预期的要高。
35	the Fed to tighten more aggressively.	美联储要更加严厉
36	That is why you are seeing Japan's 10 year and	这就是为什么你看到日本的十年和
37	five year here higher by about nine basis points for the yields.	五年的产量比这高9个基点
38	And we are also seeing	我们还看到
39	a bit of a weakness in the Japanese yen, in fact, weakening to its weakest level in more	日元的一点弱点事实上更弱到最弱
40	than a month after we saw a bit of a strength when it comes to the US dollar.	一个多月后,我们看到美元有一点强劲。
41	Winnie, thanks very much.	荣,非常感谢。
42	Winnie Sue with a look at Asia.	荣瑞苏一览亚洲.
43	Now on to Europe.	现在进入欧洲。
44	This is	这是
45	a picture, a snapshot really of what we are seeing here in the European session.	一个图片,一个真实的快照我们在这里看到的欧洲会议。
46	The stock	库存
47	600 up three tenths of one percent catching up with the US, a strong earnings story to	600倍的十分之三赶上美国, 一个强大的收入故事
48	sell.	卖掉。
49	And some people pointing to the European equity markets as being a bit of a haven away	有些人指向欧洲的股权市场像是个避风港
50	from turmoil in US tech.	美国科技的动荡
51	European tech actually benefiting today up by 1.8 percent and keeping	欧洲技术今天实际受益1.8%,
52	an eye on what's going on in fixed income of all sorts.	观察各种固定收入的情况。
53	No cash trading in the Treasury	财务处没有现金交易
54	market in the United States.	美国市场。
55	But yesterday we saw Treasuries and European bond markets	但昨天我们看到了国库和欧洲债券市场
56	really roiled by that much higher.	被这么高的地盘搅了
57	Well, the higher print than expected on CPI and what	那么,高于预期的消费物价指数和什么
58	that did to yield.	这确实使自己屈服了。
59	So we continue to watch where yields are moving.	因此,我们继续观察产量在移动。
60	With that in mind,	考虑到这一点,
61	we've got US two year futures on the board for you as we continue to track the fallout	继续追踪后遗症我们为你准备了两年的未来
62	from that CPI print and the hawkish commentary from the Fed and the reassessments of Fed	对美联储的重新评估
63	rate hike bets that we've seen as a result.	速率上涨的赌注,我们已经看到的结果。
64	NASDAQ futures up by 1.7 percent, S&P futures	纳斯达克期货上涨1.7% S&P期货
65	up by eight tenths of one percent.	上升了百分之八的1%。
66	从CoreWeave传来的一些新闻线
67	and Anthropic, as we mentioned in our headlines, acting as something of a comfort to the tech	正如我们在头条新闻中所提到的对科技来说是一种安慰
68	trade.	贸易。
69	Let's get some of the stocks we're watching this morning.	我们早上看的股票
70	这是Olivia LaVue。
71	Good morning, Anna.	早上好,安娜,你好吗?
72	You'd be hard pressed to find a part of the tape both globally and	你很难找到磁带的一部分全球和
73	in US pre-market that isn't dominated right now by the AI trade, particularly though this	在美国前市场, 现在不是由AI贸易主导, 尤其是这个
74	morning we're focusing on CoreWeave.	早上我们集中关注核心网络
75	They lifted their four-year guidance and beat on	他们解除了四年的指引继续前进
76	third quarter revenue.	第三季度收入。
77	Both of those metrics coming in handily ahead actually of Wall Street	这两条标准都巧妙地领先于华尔街
78	expectations helping to calm investor nerves over CoreWeave's debt-laden businesses and	帮助投资者平息CoreWeave债务累累的企业和
79	in general the challenges facing the data center industry.	一般而言,数据中心行业面临的挑战。
80	That's lifting AI stocks	这就是解除AI股票
81	across the board.	包罗万象。
82	Another area that we're focused on though is the AI photonics complex.	我们关注的另一个领域是AI光子复合体.
83	Coherence and Lumentum are both higher in pre-market trading after Japanese peer Hamamatsu	在日本同行哈马松之后, 市场前交易的一致性和意义都更高
84	Photonics was up almost 15 percent, showing that photonics demand is still incredibly	光子素上升了近15% 显示光子素的需求仍然惊人
85	strong.	强壮。
86	It's a key component in data centers.	这是数据中心的关键组件。
87	Finally, we have results from Alcon.	最后,我们得到了阿尔康的结果。
88	They're	他们是
89	down in Europe and they're down in pre-market US trading after disappointing third quarter	在欧洲,他们倒下在市场前的美国贸易令人失望的第三季度
90	results that were led by a weakness in their implantables business.	由植入物业务的弱点所带动的结果。
91	Olivia 非常感谢你
92	Olivia Levue和你的前市场推销员
93	Coming up this	来了
94	hour we will get into conversation about the tech trade with Olaolu Ogongu who joins us	一小时后,我们开始讨论与奥拉奥卢·奥贡古的技术交易
95	from Citi joining us to talk about the AI rally and how that rubs up against moves in	从花旗加入我们谈论AI集会和如何抹黑移动英寸
96	bond markets.	债券市场。
97	Let's get back to the CoreWeave story though talking of AI.	让我们回到CoreWeave的故事,尽管谈论AI.
98	Shares are extending	股份正在扩展
99	gains after posting strong results and an upbeat forecast with the CEO Michael Intrator	与首席执行官迈克尔·Intrator一起公布强有力的成果并作出乐观的预测
100	calling it a breakout quarter for the firm.	给律所打个突破区
101	我们把Tom McKenzie带进来,主播
102	opening trade here in London, with me of course and here to tell us all the things we need	在伦敦开设贸易, 当然,我在这里告诉我们我们需要的一切
103	to know about the tech trade.	了解技术交易。
104	先从CoreWeave开始.
105	What was comforting about what Core	何谓安慰什么核心
106	Weave had to say?	编织必须说?
107	你可以从CEOMichael Intrator那里得到解脱
108	of course of this company, on the back of earnings and the upgrade to the forecast.	当然,这家公司, 在收入的背面和升级到预测。
109	So they're now forecasting $13.3 billion in revenue for the full year.	所以他们现在预测全年收入133亿美元.
110	So that was a significant	所以这很重要
111	beat.	节拍。
112	Losses for the company have narrowed so that's significant and they have this chunky	公司的损失已经缩小了所以这是重大的, 他们有这个巨大的
113	backlog of about $132 billion, above $132 billion in terms of orders that they now need to execute	积压约1 320亿美元,超过1 320亿美元,目前需要执行
114	on.	继续
115	So on all those metrics this is very positive for a company that's come under increased	因此,在所有这些衡量标准上这非常正面对于一个公司,它已经得到了增加
116	scrutiny of course around its business model and how viable it is because they have to borrow	当然要围绕其商业模式加以审查,并检查其可行性,因为它们必须借款;
117	at high rates to build out the infrastructure, to build out the data sensors and buy the chips that	高收费建造基础设施建造数据传感器购买芯片
118	they then lease on to the likes of Microsoft and OpenAI.	然后租借给微软公司和OpenAI公司
119	So a beat on that terms.	这么说吧
120	This isn't	这不是
121	completely out of the woods for CoreWeave.	完全走出森林为科雷织。
122	They still have net debt of about $62 billion	他们还有620亿美元的债务
123	but certainly it's a tick in the box and they need to continue performing in these quarters	但他们肯定在盒子里需要继续表演
124	to really assuage the concerns but the market or at least the stock has cooled higher this morning.	真正缓解关注但市场或至少股票已经降温今天上午。
125	Yeah even if we still have questions and concerns about the role of Nvidia right now it seems that	是啊,即使我们还有问题和担心关于Nvidia的角色现在,似乎
126	the narrative out of CoreWeave is at least a positive one in the short term.	CoreWeave的叙述在短期内至少是正面的。
127	What else have	还有什么?
128	we got in the mix then?	我们混进去了?
129	Anthropic and the conversations there about the, well we know	安东尼和那里的对话我们知道
130	a bit more about the timing don't we it seems, about this IPO, the planned timing at least and	更多关于时机,我们不它看起来,关于这个IPO, 计划的时间至少和
131	planned valuations.	计划估值。
132	What are the reports like around just how high or low the valuation might	报告是什么样子的只是估价有多高或低
133	go here?	来这里?
134	The reports suggest there is huge demand for Anthropics IPOs.	报告表明对人类学IPO的需求巨大.
135	The Financial Times front	金融时报前线
136	page today they're looking at a valuation potentially of more than one and a half,	今天他们正在研究一个超过1.5的估价
137	more than one and a half trillion dollars.	超过1.5万亿美元。
138	Now that would make it the biggest IPO ever on record.	这将是有史以来最大的IPO记录。
139	They had set a pricing yesterday in the update to the S1, the SEC, the Securities Exchange Commission	他们昨天在S1的更新中设定了定价证监会证券交易委员会
140	of between 70 to 78 dollars per share.	每股70至78美元之间。
141	It seems they now may increase that pricing which is	看来他们现在可能会增加价格,也就是
142	unusual given the demand they've seen.	他们看到的要求不同寻常
143	And in terms of the forward picture, look this is still	从前景来看,看这还是
144	a company that is projecting into the 2030s commitments of around 900 billion US dollars	2030年代约9 000亿美元的承诺
145	but revenues are growing.	但收入正在增长。
146	The revenue growth is phenomenal, it's nearly 50 percent, it's slowed,	收入的增长是惊人的, 将近50%, 它放缓,
147	the revenue growth is slowed but from a very very high level.	收入增长放缓,但增长幅度非常高。
148	It seems right now, and this is the	现在看来,这是
149	most important takeaway, this IPO will get through.	最重要的外卖, 这个IPO会通过。
150	Then in the secondaries, how do the public markets	然后在二手店里公共市场怎么样
151	then react to that?	然后对此作出反应?
152	Is there a pot, does it sustain it or do people take cash off the table?	有没有大麻,它维持它或者人们从桌子上拿走现金?
153	Yeah we certainly did have one guest on Asia program I think, didn't we, who was... Jack Selby.	是啊,我们确实有一个客人在亚洲的节目我想,是不是我们,谁是... 杰克・塞尔比。
154	Yeah a little bit cautious on what happens when lockups come to an end and that sort of thing.	是啊,有点谨慎当锁结束和那种事情。
155	Open AI,第三季度收入数字通过Open AI增加50%.
156	I mean	我是说
157	telling us a comforting story about monetization and the ability to monetize these models.	告诉我们一个令人欣慰的故事关于货币化和将这些模型货币化的能力。
158	如果你把这些三家企业放在一起 CoreWeave Anthropic 开放AI
159	the one clear takeaway for the bulls is the demand continues to be there.	对公牛来说唯一明确的外卖是需求还在继续
160	Massive demand,	巨大的需求,
161	massive demand for compute, that's the CoreWeave story with that backlog of 132 billion,	大量的需求计算, 这是核心 Weave的故事与积压的132亿,
162	massive demand for the frontier models still for Open AI and Anthropic.	对开放AI和Anthropic的前沿模型的大量需求。
163	Open AI, as you said,	打开AI,正如你说的,
164	10 billion US dollars in the most recent quarter in terms of the revenues that came through,	从最近一个季度的收入来看,100亿美元,
165	on an annualized rate.	年薪标准。
166	You're looking at revenues now of about 50 billion dollars,	你现在看到的是500亿美元的收入,
167	annualized revenues for Open AI.	公开AI的年收入。
168	So they are catching up with Anthropic and they are proving	所以他们追上Anthropic 他们证明
169	that there is still demand.	仍然有需求。
170	Now they're still making a loss and the margin is still very much	现在他们还在亏本,赔率仍然很高
171	in negative territory for Open AI, but those losses have narrowed.	但是损失已经缩小了
172	Okay Tom, thank you very	好吧,汤姆,谢谢你
173	much.	非常喜欢
174	Tom McKenzie of course with the latest on those tech themes.	Tom McKenzie当然有这些技术主题的最新消息
175	Tech themes rubbing up against	技术主题与
176	the latest inflation data out of the US.	美国最新的通货膨胀数据。
177	The latest CPI report came in then hot,	最新的消费物价指数报告当时很热
178	sending two-year treasury yields soaring by the most in some 19 months.	两年的国库收益在大约19个月里猛增最多。
179	Chicago Fed President	芝加哥联邦主席
180	Austin Coolsby weighed in on the report on PBS NewsHour.	奥斯汀·柯尔斯比在PBS新闻频道的报道中有所评价.
181	Take a listen.	来听听
182	It's another distressing	又是又一个烦恼
183	report, borderline disturbing.	报告,边界线扰动。
184	So we've got a real inflation issue on our hands that has been	所以我们手上有真正的通货膨胀问题
185	developing and we're going to have to deal with that.	正在发展,我们不得不处理。
186	Now the cash treasury market is closed today	现今金库市场今日关闭
187	in the US, but there's movement elsewhere of course and there was plenty of movement in	在美国,但有移动当然其他地方, 有很多移动
188	yesterday's session.	昨天的会议。
189	Ven Ram joins us, Bloomberg's Ven Ram, with some analysis.	文・拉姆加入我们,彭博的文・拉姆, 有一些分析。
190	So we established	所以我们建立了
191	over the last 24 hours that stocks like tech and that bond markets once again do not like inflation	过去24小时内科技等股票和债券市场再次不喜欢通货膨胀
192	and that's certainly what we saw at the front end of the US curve.	这当然是我们在美国曲线前端看到的。
193	How surprised were you by the	你有多惊讶
194	extent of the move in treasuries and other global bond markets on the back of that inflation print?	国库和其他全球债券市场的变动幅度?
195	Hi Anna, so I don't think I was surprised at all because you know this was an accident	嗨,安娜,所以我不觉得惊讶,因为你知道这是一个意外
196	that was waiting to happen.	等待着发生
197	We have discussed in recent sessions how well the US economy has	我们最近几届会议讨论过美国经济如何发展
198	been doing, real growth has been above 3% which is above trend and you've got inflation that is	一直以来,实际增长 3%以上,高于趋势通货膨胀是
199	running well above 3% and yesterday's inflation was to the upside.	而昨天的通货膨胀是好的。
200	So the markets have been	所以市场已经
201	glossing over the fact that you know how far does the Fed have to put up rates here and it looks	掩盖了一个事实,你知道美联储必须多远将利率在这里,它看起来
202	like they have to go a long way because you know even the Fed's own estimate of the real neutral	就像他们必须走很长的路因为你甚至知道美联储自己对真正的中立者的估计
203	rate is 120 basis points now and clearly that's understating it and as Goolsbee said this is	速率是120个基点现在,很明显,这是低估它,正如Goolsbee说这是
204	disturbing and I think that the Fed has got to go more than three times which is what the markets are	美联储必须走三次多那就是市场
205	currently pricing in and if the Fed has got to keep raising rates I think that the front end is	如果美联储继续提高利率我认为前端是
206	more or less there around 475, 478 which is the spread over the Fed mid-rate is considerable but	大约475 478美元也就是美联储中产率的分布很大
207	if you look at the long end that's where I'm really concerned and I think that the 10 year is	如果你看长的一端那才是我真正关心的地方我认为10年是
208	hovering around 5% as we talk but I think that the 10 year and the 30 year yields have really	在我们谈话时徘徊在5%左右但我认为10年和30年的产量
209	have much more work to do and I think that the direction of yields is higher from here.	还有更多的工作要做,我认为产量的方向从这里更高。
210	Yes it's interesting isn't it we got back above 5% didn't we yesterday on the 10 year we closed	有意思的是,我们回来的不是5%以上吗昨天我们关闭了10年
211	at 4.99 and obviously no cash trading today.	今天没有现金交易
212	So what dictates the direction of travel next then	接下来旅行的方向是什么?
213	Ven?	温?
214	We saw of course the the fallout from the AI nervousness in the United States post the	当然,我们看到了美国AI的紧张情绪带来的后遗症
215	buying and therefore lower yields but that thought process or that trip that investment	购买并因此降低收益,但思考过程或投资之旅
216	thesis seems to have moved aside.	论文似乎已经挪到一边去了。
217	Well as there are going to be episodes of volatility in the	会有波动
218	equity markets you will see tactical rallies in treasuries but I don't think that's the	股票市场,你会看到战术集会在国库,但我不认为这是
219	sustainable or the strategic direction of treasuries from here because you know if you're	或从这里得到的国库战略方向因为你知道自己是否
220	a nominal bond holder you want to be compensated for inflation that's the point of buying bonds	名义债券持有者,您想获得通货膨胀补偿,这是购买债券的要点
221	and if you if you're not getting an adequate inflation compensation	如果你没有得到足够的通货膨胀补偿
222	what is the point of that five nominal coupons because they are going to be eroded by inflation	那五张名义优惠券有什么意义,因为它们将被通货膨胀侵蚀
223	so I think that the direction of yields at least the long date of the bonds is definitely higher	所以我认为,收益方向至少在债券的漫长日期绝对更高
224	from here and I think that we are not yet in the value zone if you look at the median of the	从这里,我认为,我们还没有在价值区如果你看看中间值
225	inflation adjusted yields on the 10 year treasury is going back in history it's about two and a half	10年的通货膨胀调整收益率在历史上是大约是2.5年
226	percent and I we are not at that level so I think that we have got further to go here.	我和我们没有达到这个水平所以我想我们还有更多的工作要做
227	Okay Ben thank you very much thanks for the analysis Bloomberg's	还好本非常感谢你对彭博公司的分析
228	Venram from the markets live team now to other top stories that are trending on the Bloomberg	来自市场现场的Venram 团队到其他顶级故事正在流行于彭博会
229	terminal this morning Morgan Stanley says global equity hedge funds cut risk at the fastest pace	Morgan Stanley说,全球股权对冲基金以最快的速度降低风险
230	in more than a decade through the first week of November the retreat came as AI stocks sold off	在11月第一个星期的十几年里, 退场是随着AI股票的出售而来的
231	following the midterm elections hedge funds returns in the first week of November were	在中期选举之后,11月第一个星期的对冲基金收益
232	negative across all regions.	所有区域的负数。
233	美国驻华大使David Perdue指出,
234	Nvidia CEO Jensen Huang and an alleged Chinese spy is posing a test to bilateral relations he	Nvidia首席执行官Jensen Huang和一位中国间谍正在考验他的双边关系
235	says US-China relations are quote bumpy ahead of next week's summit between presidents Trump	说中美关系在川普总统下周的峰会前出现颠簸
236	and the Chinese to take place in Shenzhen in China meanwhile treasury secretary Scott Besson	和中国人将在深圳举行同时,财政部秘书斯科特·贝松
237	hailed an improvement in US-China engagements ahead of president Trump's visit next week	在川普总统下周访问之前,
238	he spoke to the national committee on US-China relations.	他和中美关系全国委员会谈过了
239	We are establishing a direct channel to ensure that either nation can promptly alert the other	我们正在建立一个直接渠道,以确保任何国家能够迅速向对方发出警报。
240	to serious incidents involving its SI models.	涉及其职业分类模型的严重事件。
241	As SI advances so will the need to engage in	随着职业介绍所的推进,需要参与
242	new areas of risk management and to demonstrate how our two great nations can reconcile the	新的风险管理领域,并展示我们两个伟大国家如何协调
243	demands of competition with the responsibilities of leadership.	要求与领导责任竞争。
244	Coming up on the program Russia	即将上演俄罗斯的节目
245	and Ukraine try to negotiate a peace deal more on that next this is Bloomberg.	接下来是彭博社,
246	This is Bloomberg Brief I'm Anna Edwards live in London.	这是彭博简介我是安娜·爱德华兹住在伦敦
247	Ukraine and Russia continue a second day	乌克兰和俄罗斯继续第二天
248	of US-led peace talks in Abu Dhabi let's get an update with Bloomberg's Greg Sullivan.	美国主导的阿布扎比和谈让我们了解彭博的格雷格·沙利文
249	Greg what's	格雷格,这是什么?
250	the latest then coming from these talks a couple of days in and some of the language seems to be	最近从这些谈话中传来的一些语言
251	quite positive any substance?	相当积极的任何物质?
252	Right the second day of talks did kick off today Ukrainian president	今天,乌克兰总统的第二天会谈确实开始了
253	Volodymyr Zelensky said that issues like de-escalation potential ceasefires over	沃洛迪米尔·泽连斯基说,诸如缓和可能停火的问题
254	the Black Sea and energy infrastructure could be on the table in today's talks.	在今天的会谈中,黑海和能源基础设施可以放在桌面上。
255	Coming out of	出来了
256	yesterday's talks the US and Ukraine cast them as rather constructive and productive.	昨天的会谈使美国和乌克兰认为它们具有相当的建设性和建设性。
257	Russia was	俄罗斯当时
258	slightly more reticent an official that was part of the talks said that it's still too early to say	稍稍迟钝一点身为谈判一部分的官员说现在说还为时过早
259	how the negotiations are going.	谈判进展如何?
260	These are the first negotiations since February when the US	这是美国2月份以来的第一次谈判
261	shifted its focus to the its war on Iran so now that they're resuming it is an interesting sign	现在他们又重新发动了这场战争,
262	that there is some momentum and some sides are casting it as constructive but still the fact	有一些势头,有些方面认为它具有建设性,但事实仍然是:
263	remains that a lot of issues remain on the table and there is quite a chasm between the two sides	双方仍然存在着很大的分歧
264	leading into these talks on those issues.	就这些问题展开会谈。
265	Meanwhile the attacks by both sides do seem to continue	同时双方的攻击似乎仍在继续
266	That's right we saw attacks overnight from both Ukraine and Russia.	没错,我们一晚上就看到来自乌克兰和俄罗斯的攻击。
267	Ukraine said that	乌克兰说,
268	energy infrastructure was struck while Russia said that oil infrastructure in Ust-Luga was hit	俄罗斯说乌斯图-卢加的石油基础设施受到冲击,
269	so they haven't been quite to the same scale that we saw leading up to the attacks.	所以他们还没有达到我们所看到的攻击前的规模
270	Both sides	双方
271	have been escalating their attacks prior to these talks yet clearly it's still ongoing even as	在会谈之前,他们的攻击不断升级,但显然仍在进行之中,即使
272	Zelensky said that today potential ceasefires over energy could be on the table but again Russia has	Zelensky说,今天潜在的能源停火可能摆在桌面上,但俄罗斯再次
273	cautioned that it is still too early to say and up until now Russia hasn't backed away from its	警告说,现在说起来还为时过早,直到现在,俄罗斯还没有放弃它。
274	maximalist demands and has been cautious about any kind of acceptance of a ceasefire actually	最大程度的要求,并对实际接受停火的任何形式持谨慎态度
275	broadly rejecting the need for a ceasefire as potentially only buying Ukraine time to regroup.	普遍反对停火,因为可能只是为乌克兰重新集结争取时间。
276	Right and it's interesting so at this meeting we have the U.S. of course bringing these two sides	癸 Τ届 硂穦 и讽礛穦Τ瓣 р硂ㄢ娩盿ㄓ
277	together Ukraine is there Russia is there not much European presence but there has been some	俄国没有多少欧洲存在,
278	suggestion that maybe Europe has a part to play here then Greg.	说明欧洲也许可以在这里发挥作用然后是格雷格
279	That's right it's actually	没错,其实
280	interesting yesterday on Tuesday ahead of the talks Ukraine said that they met with	昨天在会谈前的星期二,乌克兰说,他们会晤
281	their European counterparts who are in Abu Dhabi alongside U.S. envoys Steve Witkoff and	在阿布扎比的欧洲同行与美国特使Steve Witkoff和
282	Jared Kushner.	贾里德·库什纳.
283	Today the head of the Ukrainian delegation Rustam Umarov said that after the	今天,乌克兰代表团团长鲁斯塔姆·乌马罗夫说,
284	trilateral talks with Russia and the U.S. Ukraine plans to meet again with their European partners	与俄罗斯和美国的三边会谈计划再次与欧洲伙伴会晤
285	and then on top of that U.S. Secretary of State Marco Rubio said that Europe needs a place at the	然后在美国国务卿马可·鲁比奥的上面说,欧洲需要有一个位置
286	table and he hopes that the talks will expand to include them going forward and that makes sense	他希望会谈能够扩大范围,包括继续会谈,这样才有意义。
287	for Europe who sees this conflict as part of their security infrastructure that see it as a direct	欧洲认为这场冲突是其安全基础设施的一部分,认为它是直接的
288	threat since it is in Europe and they have long wanted to be at the table but have largely been	由于威胁是在欧洲,他们早就想坐到桌子上,但基本上一直
289	excluded from talks during President Trump's second administration.	特朗普总统第二任执政期间被排除在会谈之外.
290	Just briefly then Greg	只是短暂的,然后格雷格
291	I mean what are the what are the sticking points are we still talking about territory and the	我的意思是,什么是什么是坚守点我们仍然谈论领土和
292	future security guarantees for Ukraine?	乌克兰未来的安全保障?
293	Those are the big ones there have been a lot of issues on	这些是大问题,有很多问题
294	the table but there's no doubt that the two most intractable issues are the security guarantees.	但毫无疑问,两个最棘手的问题是安全保障。
295	It's hard to see what Moscow would accept that would also please Kiev and be secure enough that	很难想象莫斯科会接受什么也能让基辅高兴并且足够安全
296	they would feel that there is a less of a threat of Russian aggression going down the future and	他们觉得俄国侵略的威胁会减少
297	then like you said territory.	就像你说的地盘
298	Moscow hasn't backed away from demands that Ukraine cede territory it	莫斯科没有放弃乌克兰割让领土的要求
299	still controls and that Moscow hasn't been able to take militarily.	莫斯科一直无法军事控制
300	Ukraine says that it's their	乌克兰说这是他们的
301	sovereign territory they don't want to take it a lot of it is heavily fortified and losing it would	主权领土,他们不想占据它很多是它大量防御工事,失去它会
302	potentially leave other areas of Ukraine open to future attack so those do remain two huge sticking	未来乌克兰的其他地区可能会遭到攻击所以这些地方仍然有两根巨大的刺痕
303	points.	点。
304	Greg thank you so much thanks for the update Bloomberg's Greg Sullivan with the latest	格雷格非常感谢你更新了布隆伯格的格雷格·沙利文
305	on those talks taking place in Abu Dhabi.	在阿布扎比举行的会谈
306	美国战争部长Pete Hegseth
307	he's dodged an impeachment effort more on that and what else is making headlines in our front	他躲过了弹劾更多的关于这一点还有什么是我们前面的头条新闻
308	page news next this is Bloomberg.	接下来是彭博社
309	Welcome back this is the brief now Chevron has reported its	欢迎回来这是雪佛龙现在报告的情况
310	second straight quarter a blockbuster results in its latest earnings.	第二直四分之一的块块导致它的最新收入。
311	不过,CFO Ima Bonner不是
312	taking these boom times for granted on the latest episode of Bloomberg chief future officer Bonner	在布隆伯格未来首席军官伯纳的最近一集中,
313	takes Bloomberg's Anne Marie Horden to the Permian Basin where Chevron produces about a million	把彭博的安妮·玛丽·霍登带到佩尔米安盆地雪佛龙在那里生产了大约一百万
314	barrels a day.	一天一桶。 (笑声)
315	A million barrels a day is our sweet spot because we have the factory optimized	一天一百万桶是我们的甜点因为工厂已经优化了
316	at a million barrels a day we have reliability efforts that allow us to produce at a million	每天一百万桶,我们有可靠的努力使我们生产百万桶
317	barrels a day with less cost.	每天桶,成本较低。
318	What does reliability mean?	可靠性是什么意思?
319	I mean it means keeping our plant here	我的意思是,它意味着保持我们的植物在这里
320	up for the maximum amount of time so avoiding unplanned events shutdowns issues with equipment	* 尽量缩短时间,避免意外事件
321	issues with the wells coming into the the facility there's 27 wells coming into this facility we try	27口井进入了我们尝试的
322	make them as productive as possible one of the ways we're doing that is putting advanced chemicals	让他们尽可能多地生产我们这样做的方法之一是放置先进的化学品
323	into the reservoir and think of that as kind of it washes the oil from the rock and so this is an	进入水库想到它会把岩石上的油洗掉
324	area where we have seen over the last year 20 percent increase in production from whales that	去年我们看到鲸鱼产量增加了20%
325	have been treated with this chemical.	已经用这种化学品处理过。
326	It also involves keeping the facilities running at high	它还涉及使设施保持高水平运作。
327	reliability equipment monitoring doing turnarounds proactive maintenance all of those things allow	进行可靠设备监测进行主动维护
328	the equipment behind us to operate at the right technical limits that also contributes to reliability	我们后面的设备在适当的技术限度下运行,这也有助于提高可靠性
329	how important is that in a time of geopolitics where potentially other places are a little bit	在地缘政治时代,其他地方可能有点
330	on uncertain footing it's critical always but at a time where we've got disruptions around the world	在不确定的基础上,它总是关键但此时,我们有扰乱世界各地
331	at a time where the US is a net exporter and it's even more important and you can watch Bloomberg	此时美国是净出口国更重要的是你可以看布隆伯格
332	Chief Future Officer featuring Chevron CFO Ima Bonner that's tonight at 9 30 eastern time on	今晚9点30分东部时间
333	Bloomberg television time now for your front page news first up on the Washington Post the	彭博电视台的首页新闻首播于华盛顿邮报
334	house narrowly blocked an effort to impeach defense secretary Pete Hegseth Democrats who take over	屋里狭窄地堵住了弹劾国防部长皮特·赫格塞斯接管的民主党人的努力
335	Congress in January have said they will seek to use their power to remove Hegseth from office	一月份的国会说,他们将试图利用他们的权力解除黑格赛的职务
336	next up the New York Times reported Treasury Secretary Scott Begley of what this means for	接下来纽约时报报道了财政部长斯科特·贝格利(Scott Begley) 这代表着什么
337	tech investing how this rubs up against higher inflation and the bond market moves of this week	科技投资如何消磨通货膨胀和本周债券市场波动
338	more on that shortly this is Bloomberg it's 5 30 a.m in New York City 10 30 a.m here in London	很快这里就是彭博社纽约早上5点30分伦敦早上10点30分
339	good morning everybody I'm Anna Edwards with your Bloomberg Brief let's get you set up for the day	早上好,大家好我是安娜·爱德华兹与你的彭博简介让我们为你安排一天
340	ahead equities get a boost after stronger than expected quarterly results from Core Weave	在核心编织的季度结果比预期的要强之后,股票会得到提升
341	reviving investor confidence in the AI trade Anthropix bankers said to be considering a higher	恢复投资者对AI贸易的信心,据说Anthropix银行家正在考虑提高
342	valuation for the firm's blockbuster IPO at one and a half trillion dollars or more and a hot CPI	价值1.5万亿美元或更多和热的消费物价指数
343	print ramps up rate hike bets cash treasury markets are closed for Veterans Day after a surge	现金市场被关闭退役军人日
344	in yields quick check on the markets then pre-market as we are S&P futures nasdaq futures	快速查查市场,然后上市前,因为我们是S&P期货 Nasdaq期货
345	both point higher European futures getting a boost from the tech trade and actually threatening to	高欧洲期货从技术贸易中得到提振并威胁
346	close at a record here in Europe meanwhile US futures do point higher those joint tech themes	而美国的未来却将联合技术主题提升到更高的水平
347	{\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}在Core Weave和Anthropix的周围 {\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}他们一晚上给大家一些安慰
348	we do see a continuation of the higher yield story that was so dominant yesterday after that	我们确实看到一个更高的收益故事的延续昨天如此主导之后
349	higher than expected inflation report let's get some stocks to watch today here's Olivia Lafue	比预期的通胀报告还要高, 让我们看看今天的股票,这里是Olivia Lafue
350	hi Anna yes every single part of the AI trade is getting a boost today from neoclouds to server	Hi Anna 是的 AI交易的每个部分今天都从新云到服务器都有了增长
351	and memory providers to data center industrial players every facet is gaining and that's in	和数据中心的内存提供者工业玩家的每一个方面都在增加
352	large part as you mentioned due to the solid set of results that we got from Core Weave they	大部分是你们提到的因为我们从核心编织中获得的坚实结果
353	guidance for the year and reported a solid set of third quarter sales both of those prints coming	该年的指南,并报告了一套坚固的第三季度销售量,这两种印刷品都来了
354	in ahead of wall street estimates and really helping to calm investor nerves about the debt	帮助投资者平息债务
355	laden business that Core Weave is currently running speaking to investors today they're	今天Core Weave正在跟投资者谈话
356	pointing out the fact that short interest in Core Weave was quite high and also the fact that	指出对核心编织的短暂兴趣相当高,并且指出
357	it's just this is just relief we're seeing relief across the board from investors today	只是今天投资者的解脱
358	another sector of the or sect of the AI trade that's strong today is photonic stocks momentum	人工智能贸易的另一部分或部分今天很活跃是光子股票的势头
359	they're continuing from yesterday we had strong results from Japanese peer Hamamatsu regarding	从昨天开始我们从日本同行Hamamatsu的强烈结果
360	a strong demand continuing for photonics with regards to data centers so you're seeing coherent	对数据中心的光子学需求很大,所以你可以看到一致性
361	and momentum strong off the back of that one stock that's not happy today contrary to its name bright	和强大的动力从一个股票的背面今天不高兴与它的名字亮
362	view their fourth quarter results were disappointing and their guidance also underwhelmed investors	认为他们的第四季度结果令人失望,他们的指导也使投资者感到沮丧。
363	stock is down 17 percent so perhaps underwhelm is a bit of an under exaggeration there they seem to	股票跌了17% 所以也许下沉有点夸张了
364	be very very disappointed with the results yeah bit of an understatement not such a bright view	对结果非常失望有点小题大作不太清楚
365	Olivia thank you very much Olivia the view with the latest on the stocks we're watching this morning	Olivia 非常感谢你 Olivia 今天早上看的股票最新风景
366	now a tech rally is lifting stocks higher as Olivia was pointing out following strong quarterly	现在科技集会正在提高股票水平就像Olivia指出的
367	results from both Core Weave and Open AI so that's the backstory feeling better about technology	Core Weave和Open AI的结果, 使得对技术的背面感觉更好
368	this morning let's bring into the conversation then Olaolu Agango who is head of portfolio	今天早上,我们把奥拉奥卢·阿甘戈带到对话中来谁是组合的负责人
369	and analytics at City very nice to have you with us Olaolu your thoughts then on AI post the midterms	和在城市的分析很高兴你和我们在一起奥劳鲁,然后你的想法在AI 张贴的中期。
370	but in the context of all the volatility we've seen in markets a sell-off following but followed	但从市场波动的角度来看市场有售卖行为
371	{\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}你和你在人工智能投资上的期望是什么 {\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}你应该知道
372	well thank you so much for having me I mean we say elections create volatility but really is	非常感谢你邀请我我们说选举会造成动荡但真的
373	the fundamentals that drives long-term results and the volatility last week you know we can't	推动长期成果的基本因素以及上周的波动
374	underscore it in the data that we look at we're looking at the VIX going back to 1990 and it was	在数据中强调,我们正在研究 VIX 追溯到1990年
375	the third highest one day percentage change in the VIX so like that puts it in context there's a lot	VIX中第三高的一天百分比变化这样就使它在上下文中有很多
376	of volatility but if we go back to earnings again long-term fundamentals is driven you know by by	不稳定,但如果我们回去收入再次长期的基本原理驱动通过
377	earnings we're 80 percent of the way through more than 80 percent of the way through we are seeing	收入占我们80%的路通过超过80%的路通过我们看到
378	30 percent year-over-year earnings growth for what has been reported thus far recent earnings	迄今报告的近年收入增长30%
379	included it's been outstanding is the third consecutive quarter of over 25 percent year-over-year	包括它一直未完成是连续第三季度超过25%的一年
380	earnings growth it is the eighth consecutive quarter of double-digit earnings growth so where	收入增长是两位数收入增长的连续第八季度。
381	does that put us just with you know valuations overall for the S&P it's about 18 times it's not	这是否意味着我们只是与你知道总体的估价对S&P 它大约18倍
382	expensive it's the lowest it's been in roughly three years so we like the market here we continue	价格是三年来最低的所以我们喜欢这里的市场
383	like the market here last week it was market trying to predict policy and and it's a hard	就像上周这里的市场一样市场试图预测政策很难
384	game to predict okay so PEs make things look attractive valuations are attractive then	游戏可以预测,所以PEs 使事物看起来有吸引力的估价是具有吸引力的
385	you say I mean some any skeptics some skeptics point to the earnings side of that PE and say	你说我是指某些怀疑者某些怀疑者指的就是PE的收入
386	we're just not quite so confident in that as we used to be and maybe analysts haven't caught up	我们只是不太有信心像我们过去一样也许分析师没有赶上
387	with the political developments that we now anticipate in 2027 post the midterms a slower	随着我们目前预计的2027年中期政治发展放缓,
388	rollout of data centers essentially if we do see that slowing down does that undermine the	数据中心的推出,基本上如果我们看到减速会损害到
389	earnings story or not materially so yes elections happened last week regardless of the party that	不管有没有收入所以上星期有选举
390	are empowered there are a couple of things that you know you really can't change I'll talk about	有几件事情是不能改变的我会说
391	deficits in a second but AI is one I was joking with with some of the other day you can't put	有一秒钟的赤字,但AI是之一我开玩笑与一些前天你不能说
392	the genie back in the bottle they are between 3 000 and 5 000 call of data centers in the US	在瓶子里的精灵在美国有3000到5000个数据中心
393	you can't have AI without data centers those 3 000 and 5 000 are operating data centers and	你不能有AI 没有数据中心那3000和5000是运行数据中心
394	they're an equal amount they're in different stages of planning now yes we have an election	他们的金额是相等的他们处于不同的计划阶段现在有选举
395	there are government officials there are some states that are reluctant or hesitant around	有政府官员有一些州不愿意或犹豫不决
396	the development of data centers but there are also some some some government officials in states	数据中心的发展,但各州也有一些政府官员。
397	that are very pro data centers at the end of the day it is a state by state legislation if there	数据中心在一天结束时是州立法规定的
398	is apprehension or pushback and once that you just go to another state and you build you know	害怕或退缩一旦你去了另一个州你就会建起来
399	there are also jokes they can build in space but regardless of which you still need cyber security	还有一些笑话,他们可以在太空制造,但不管你还需要什么网络安全
400	so that's a big component of AI you still need critical minerals you need copper you need steel	所以这是人工智能的一大部分你仍然需要关键的矿物你需要铜你需要钢铁
401	you need aluminum you need a number of other things that are persistent regardless of the	你需要铝,你需要一些其他的持久的东西,无论
402	election and the you know quote-unquote slowdown for us in our portfolios we're overweight cyber	在选举和你知道的引文 - 引文减速在我们的组合我们超重的网络
403	security we're overweight some of those critical metals that you need in order to construct data	安全,我们超重一些关键金属,你需要构建数据
404	你期待AI capex的减速
405	and if so is that going to be what we want allowed because i wasn't sure through the last earnings	如果是这样,那就是我们想要允许的因为我不确定通过最后的收入
406	season whether as an investor community we were comforted by high capex or slightly disturbed by	无论我们作为投资人是否被高额的暴风雨或稍有不安
407	so there there are two components right so the capex is necessary in the early stages of any	因此,有两部分是正确的,所以顶盖在早期是必需的。
408	innovation we expect that to slow at some point it's not it's not concerning for us one company's	创新,我们期望在某个时候减慢与我们公司无关
409	capex is another company's revenue and that's again just the initial part but if you think of	Capex是另一家公司的收入,这还是最初的部分,但如果你想到
410	the life cycle of this innovative technology that we have we're just in the early innings of it so	我们掌握的这种创新技术的生命周期才刚刚开始
411	we're talking about the hyperscalers we're talking about data centers yes but arguably we have not	我们谈论的超规模的,我们谈论的数据中心是的,但可以说我们没有
412	seen the productivity gains yet for the vast majority of companies with regards to AI and that	在大赦国际方面,绝大多数公司都取得了生产率的提高。
413	in and of itself is an additional boost so whilst yes capex we do expect to slow it at some point	这本身就是一种额外的刺激,所以,虽然是顶峰,我们确实期望在某个时候减缓它。
414	with this earlier or later franklin is not really the key driver the key driver is once the	Franklin不是关键司机关键司机曾经是
415	infrastructure is in place the productivity gains and benefits that we expect to see for the broader	基础设施已经到位,我们期望在更大范围内看到生产率的提高和效益。
416	corporate universe is still expected to be able to drive long-term earnings and grow okay and that	公司宇宙仍然有望推动长期收入并增长,
417	might have an impact on inflation talking of inflation that data taking some in the market	可能会对通货膨胀产生影响说通货膨胀, 数据带一些在市场上
418	by surprise moving the bond market substantially particularly at the short end let's just have a	特别在短短的一端我们来一个
419	listen to how austin gulsby of the chicago fed of course how he captured captured the mood around	听听芝加哥的奥斯汀·古斯比如何捕捉周围的情绪
420	that cpi print it's another distressing report borderline disturbing so we we've got a real	那CPI的指纹是另一个令人困扰的报告边界线干扰所以我们有真实的
421	inflation issue on our hands that has been developing and and we're going to have to deal	我们手上的通货膨胀问题一直在发展,我们不得不处理
422	with that borderline disturbing for gulsby allow how did it impact your thinking around fixed income	对Gulsby来说边界线的干扰允许它如何影响你对固定收入的思考
423	i mean are you factoring in a higher inflation for longer environment not just on the back of	我的意思是,你考虑较高的通货膨胀对于更长的环境不只是背面
424	yesterday's print but more broadly thinking about u.s inflation so so i will say our our	昨天的印刷品,但更广义的思考你的通货膨胀所以我要说我们
425	view and i think we have a fairly non-consensus view our view is that inflation will run hotter	我们的观点是通货膨胀会更热
426	than consensus is thinking and that really by not hiking at the last foc meeting that the fed	而不是共识是思考, 而实际上,不徒步在最后一次foc会议,
427	is setting themselves up to be behind the curve cpi print yesterday came in higher now you know	昨天的cpi打印值上升了你知道
428	month over month type of readings can be volatile but the share of cpi components that are rising at	每月的读数类型可能不稳定,但cpi组件的比例在上升。
429	5%或更快的跳跃到56% 在october 它从44 在September 所以october份额
430	is the highest since 2022 so yes we do think inflation is a concern now with regards to	是2022年以来最高的所以是的我们确实认为通货膨胀是现在
431	fixed income we've been saying this for some time the the fed and the fed chair have made	固定收入我们已经说了一段时间了联邦和联邦的椅子已经做了
432	it very very clear that price stability and bringing in inflation is a number one priority	价格稳定和通货膨胀是头等大事
433	for them and we're not there yet as a result of that you couple where we are with inflation the	对他们来说,我们还没到那里,因为你们和通货膨胀在一起
434	signaling or you know they don't do signaling but they've been very overt with regards to that	信号,或你知道他们不做信号, 但他们一直非常公开
435	we expect rates to go higher as a result of that earlier in the year and actually recently as well	由于今年早些时候,以及最近,我们预计费率会提高。
436	we've adjusted our duration position so we moved from our our mid and trend our mid and longer	我们调整了工期位置所以我们从我们的中点和趋势
437	term duration and we're in shorter duration fixed income instruments why because we wanted to be	我们的固定收入工具是因为我们想成为
438	able to to try and insulate ourselves somewhat from the the moves that we're expecting in the	能够尝试和隔绝我们期待的动作
439	and add it to gold other areas that can increase the balance in	并添加到金色的其他地区,增加平衡
440	portfolios because with regards to fixed income we do believe is going to be challenging continues	因为在固定收入方面,我们确实相信,将继续面临挑战。
441	to be volatile alalu thank you very much alalu aganga thank you for your time from city good to	感谢你们从城市到城市的时间
442	get your perspective on the program now to other top stories that are trending on the blueberg	将你对节目的看法转到蓝贝格上流传的其他顶尖故事
443	terminal this morning iran says it will not remove a single atom of enriched nuclear material from	今早Iran说它不会从浓缩核材料中移除一个原子
444	the country in an interview with the pan arab tv network al mayadeed iran supreme national security	在接受泛阿拉伯电视网的采访时,
445	council secretary said iran has informed russia that its enriched material will remain in the	政务院秘书说,伊兰已经通知俄罗斯,其浓缩材料将留在
446	country for domestic use he said the material is required to design nuclear-powered ships	他说,这些材料是设计核动力船舶所需的。
447	and submarines prices of baby food and formula in the united states surged by the most on record	美国婴儿食品和配方的低价涨幅创纪录最高
448	in october rising by about five percent a combination of factors are likely contributing	综合各种因素可能促成
449	to the increase in formula prices including higher costs for ingredients and transportation	包括增加成份和运输费用
450	inflation byd has apologized after some of its great tang electric suvs were assembled	通货膨胀 byd 已经道歉在它的一些伟大的尖端电动软体组装
451	with their front and rear wheel rims reversed the automaker traced the mistake to a supplier	汽车制造商把错误追踪到供应商身上
452	and says the affected vehicles are safe to drive byd is offering replacement	并说受影响的车辆是安全的驾驶字节是提供替换
453	rims and restarting the warranty period coming up on the program a bumpy relation	轮回和重开保修期即将到来程序
454	the u.s ambassador to china calls for diligence when dealing to the invidia affair more on that	驻中国大使呼吁在应对印度事件时注意
455	next this is going back we are establishing a direct channel to ensure that either nation	我们正建立一个直接的渠道确保任何国家
456	can promptly alert the other to serious incidents involving its si models as si advances so will	能够迅速提醒对方注意涉及Si模型的严重事件随着Si的推进
457	the need to engage in new areas of risk management and to demonstrate how our two great nations can	需要参与风险管理的新领域,并展示我们两个伟大国家如何能够
458	reconcile the demands of competition with the responsibilities of leadership that was treasury	调和竞争要求与财政部门的领导责任
459	secretary scott besson hailing an improvement in u.s china engagement at an event in new york	Scott Besson秘书欢呼纽约的一场赛事中中国人参与的改善
460	meanwhile u.s ambassador to china david purdue stayed more cautious he spoke exclusively to	与此同时,驻中国大使达维德·普尔杜德(英语:David Purdue)则保持了更加谨慎的态度,他只和他交谈过
461	bloomberg steven engel i think the situation with invidia is another reminder that we have to stay	布兰博格史蒂芬·恩格尔我觉得Invidia的情况又一次提醒我们必须留下
462	diligent national security is part of this economic conversation because economic security is national	勤奋的国家安全是经济对话的一部分因为经济安全是国家的
463	and so what we're doing with china is bumpy right now we have some areas of disagreement but we have	因此,我们正在做的瓷器是颠簸现在,我们有一些分歧的领域,但我们有
464	现在从Washton Mika Solener 从开花伯格政府的 rika 好加入我们
465	get your perspective thanks for taking us through this story and and a number of others let's start	来听听你的观点谢谢你带我们看这个故事还有其他几个让我们开始吧
466	with this then u.s china relations and it's interesting the language coming from the u.s	与这时的u.s瓷关系和有趣的语言来自u.
467	envoy to china relations are bumpy after the invidia affair at another time you might imagine that	来中国关系的特使在另一个时候的Invidia事件之后变得很颠簸
468	what we've seen from invidia and the scandal around that alleged spy that might have resulted	我们从Invidia那里看到的一切以及那个间谍的丑闻
469	in a lot more outspoken language from capitol hill do you get the sense that the republicans	你是否觉得共和党
470	or the leadership are just trying to play this down because we're approaching this important	或领导只是试图发挥这一点因为我们正在接近这个重要
471	meeting yeah i mean i i would say that the response at least from both the white house	我想说至少两个白宫都有反应
472	and the overall administration has been pretty tame so far in light of these allegations	根据这些指控,迄今为止,整个行政当局相当温和。
473	with jensen huang i know that the president has said has addressed the issue on the heels of	我知道总统说过这个问题在紧接着
474	his meeting next week in china but i do think that this is going to create a lot of tension as	他下周在中国的会面但我确实认为这会造成很多紧张
475	we just heard uh you know the david purdue say um and i i do think that this could potentially	我们刚刚听到呃... 你知道达维德·普杜德说...
476	bleed into that meeting when it comes to those national security issues we have to i have to	在那个会议上流血了当涉及到国家安全问题时... ...我们必须...
477	remind our audience that the president has become extremely close with jensen huang	提醒我们的观众, 总统已经变得非常接近詹森・洪
478	um in the as he kind of continues this ai race with the between the u.s and china and on another	嗯,在那种他继续这个AI比赛与U.s和瓷器之间和另一个
479	subject but obviously in washington house republicans have been trying to impeach	但显然在沃顿房子里共和党人一直试图弹劾
480	pete hexes or at least a number have but others have stood in the way of that effort when things	Peter Hexes或至少几个人有但其他人却阻止了这项努力
481	change in january that might lead to a different outcome what what have we learned from this process	我们从这一进程中学到了什么?
482	yeah definitely i mean i think it still shows that a lot of republicans are really hesitant to break	肯定的,我的意思是,我认为它仍然显示很多共和党人真的犹豫打破
483	with president trump and the administration in any way i spoke with more than a dozen house	我和十几间房子谈过
484	republicans yesterday both about the impeachment vote and just the overall outcome of the midterms	昨天的共和党既关于弹劾投票也只是中期结果
485	how they're feeling about president trump if they blame him at all for the stinging losses	他们怎么看总统胜诉如果他们把刺痛的损失归咎于他
486	that republicans faced both in the house and senate and in those surprise races and a lot	共和党在众议院和参议院以及那些突袭赛和很多
487	of them are really reluctant to place any blame on the president which i think still shows that	他们真的不愿意把任何责任归咎于总统我认为仍然显示
488	this administration has a stronghold especially in this lame duck period heading into december	这个政府有一个据点, 特别是在这个烂鸭子时期, 朝十月。
489	uh where republicans are really going to try and pass the last of the president's agenda it's they	共和党人真正想要通过总统的最后议程是他们
490	see it as their last opportunity to get everything they can before this total democratic takeover	认为这是他们最后的机会得到一切他们能在此之前,彻底民主接管
491	but you're absolutely right that we may see this come again as well as potential other impeachments	但你绝对是对的,我们可能会看到这个又来了以及潜在的其他弹劾
492	a next congress which have a greater chance of passing right yes that'll be an interesting	下届国会更有机会通过右侧是的,这将是一个有趣的
493	pivot to watch now russia and ukraine they're talking in abu dhabi how are those conversations	看着现在的鲁西亚和乌克赖恩他们用阿布哈比语说话谈话怎么样
494	obviously the u.s is there and leading those talks how are those talks being viewed from washington	很明显,你在那里领导这些会谈如何看待这些会谈
495	yeah i think that there's optimism in washington overall at least in capitol hill and and the	是的,我认为在劳顿总体上是乐观的,至少在卡皮托山和
496	house was very eager and has remained eager to try and progress these peace talks um but i do	房子非常渴望并且一直渴望尝试并推进这些和谈
497	think that there's also a lot of skepticism and this is this war has been ongoing for years now	认为也有很多怀疑这场战争已经持续多年了
498	the trump administration and the president have said you know that they would swiftly end this	总统说你知道他们会迅速结束这一切
499	conflict but it's been a lot more complicated and we're seeing this in a lot of the other global	冲突已经复杂得多了我们在很多其他全球
500	conflicts that the president has weighed into extensively and even created including the war	包括战争在内的冲突
501	iran that these are a lot more complicated and this will be the the resumption of talks after	更复杂的是,这将会是会谈的恢复
502	a very long period of that was kind of stalled and heading into kind of this rockier period	一段很长的时期有点停滞并进入了一段比较美好的时期
503	between ukraine and the u.s in particular in light of some comments that were made by u.s officials	特别是根据美国官员的一些评论
504	regarding russian president Vladimir Putin.	关于俄罗斯总统普京
505	Mika thanks very much Mika Solna of Bloomberg	美嘉非常感谢彭博社的美嘉·索尔娜
506	government thank you very much for your time now one stock we're keeping a firm eye on of course	政府非常感谢你的时间现在一个股票,我们正在牢牢监视当然,
507	it's earnings giving a boost to the market with a strong quarter and a rosy forecast let's get the	以强劲的四分之一和优美的预测来刺激市场
508	perspective of matt bloxham from Bloomberg intelligence well there you go pre-market up by	从布隆伯格的情报界看Matt Bloxham的视角... ...你到市场前...
509	nearly 14 percent then matt and this was an epicenter of market concern some weeks ago	近14%,然后Matt, 这是几星期前市场关注的中心
510	now it seems to be acting as a comfort nasdaq futures up really quite healthily partly on the	现在它似乎是一个舒适的纳斯达克未来真的很健康部分在
511	back of the guidance we're getting here yeah i mean definitely that the guidance was helpful	回到我们这里的指引...
512	you know modest upgrade to the full year revenue and profit for me the more interesting uh point	你知道,适度升级到全年收入和利润对我来说更有趣的呃点
513	was the commentary around the sources of funding in the near term we'll see one of the problems	近期内我们将会看到一个问题。
514	with core we recently has been that big spike in in yields because of the question marks about how	我们最近产量猛增因为有问题
515	{\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}他们可以资助这次大规模推广 {\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}至少下一个是现金流负数公司 {\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}他们可以资助这次大规模推广
516	three or four years according to consensus and that the ceo said that they're going to get about	根据共识,3年或4年和Ceo说,他们要去
517	nine billion dollars of prepayment funding from their customers and that they've got a delayed	他们的客户预付了90亿美元并且他们延迟了
518	down investment grade facility in the pipes too so i we don't need to go and tap expensive debt	也降低水管的投资等级设施,所以我们不需要去抢走昂贵的债务
519	to keep funding the business in their term and i for me that's like being a very important signal	继续资助他们的生意对我来说这就像一个非常重要的信号
520	for the company to give because this company isn't typical so we get comfort from the top line demand	公司给予,因为这个公司不是典型的所以我们得到了舒适从顶级的需求
521	forecasts maybe but they're not typical in terms of the debt story are they no they're not it's	预测也许,但从债务故事来看,它们不是典型的,不是
522	quite a complicated um debt structure and you know some of the unsecured debt you know spiked	相当复杂的债务结构你知道一些无担保债务你知道猛增
523	as much as 15 percent yields recently uh because there are these question marks about you know the	最近有15%的产量因为有关于你的问题
524	kind of mismatch between revenue and profit growth but the amount of capital investment they're	收入和利润增长不匹配但资本投资的金额
525	making near terms you know tens of billions dollars of cash outflow and how do you continue	使你几乎知道数百亿美元的现金流出以及你如何继续
526	to fund that and you know what's the trajectory towards cash flow break even what about anthropic	来资助它,你知道什么是轨迹现金流断,甚至人类。
527	then onto anthropic also getting some comfort there are we from this talk certainly in other	然后进入人类生活也得到一些安慰... ...
528	media about just how high the valuation could go here not as high as some of the really elevated	媒体说这里的估值可能比一些真正的高
529	levels we've previously seen but talk us through these latest yeah i mean it's been a bit of a	我们以前见过的水平,但谈谈我们通过这些最新是的,我的意思是,它已经有点
530	journey for them in the last few weeks hasn't that um i you know also that the news today that maybe	他们过去几周的旅程不是... ...嗯...
531	the bankers are looking to push the valuation up towards 1.5 trillion you're still a long way	银行家们想把估值推到1.5万亿你还有很长的路要走
532	{\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}简言之人们谈论的两万亿 {\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}但比他们想的要好得多
533	1.2 to 1.3 that the kind of essentially the baseline if you like it of the of the ipo	1.2到1.3 那种基本上属于基线的,如果你喜欢的话
534	it's really down to the manor team to kind of go and see investors give a very convincing pitch	它真的下到庄园团队那种去看到投资者给出一个非常令人信服的投注
535	about the fundamentals the size of the addressable market their sustainable profitability path you	关于基本大小的可解决市场他们的可持续盈利路径您
536	know the moat they've got around the business that's really what's going to you know test	知道他们有护城河周围的生意, 这真的是什么,你知道测试
537	investors appetite and i guess they're probably keeping their fingers crossed that we get through	投资人的胃口,我想他们可能保持他们的手指交叉
538	a week without too many more or any more unexpected negative bits of news around the border industry	一周没有太多或更多意外的负面新闻
539	yes and perhaps they'll be pleased with some of the positive news we've had out from	是的,也许他们会很高兴我们从一些积极的消息
540	even open ai so some comfort perhaps on the ability to monetize the business is that what	甚至开放AI 所以一些安慰也许对货币化业务的能力是,
541	we should read into the revenue numbers there yeah i think this is so open ai came out where	我们应该读一下那里的收入数字我觉得这里很开放
542	we reportedly told investors that q3 revenue was about 10 billion about 50 up sequentially	据报道,我们告诉投资者 q3的收入大约100亿左右连续50个
543	very similar growth trajectory to what we heard from anthropic now with the anthropics q3 number	和我们从人类学中听到的人类学的q3 数字相似
544	was a lot bigger 17 billion dollars what it showed you was open ai it has pivoted into the	170亿美元显示你开着的Ai,它潜入
545	enterprise ai opportunity that anthropics really focused on that you know it suggests there's	人类学真正关注的机会你知道这说明
546	plenty of demand there they're also kind of improving their kind of profitability trajectory	那里的需求量很大他们也正在改善他们的利润轨迹
547	too so yeah it's a positive data point i think it should in theory at least be a big enough market	是的,这是一个积极的数据点我认为在理论上至少应该是一个足够大的市场
548	plenty big enough market for both of these companies to grow substantially from where they	这些公司的市场足够大,可以从那里大幅度增长
549	are today matt thank you very much matt block some from bloomberg intelligence with all those tech	今天是Matt 非常感谢你 Matt 和所有那些技术一起阻止一些来自盛大的智力
550	themes coming up your day ahead that's next this is bloomberg welcome back to the brief now we'll	接下来是盛盛的盛会欢迎回到简报中
551	look at what is ahead for today a host of fed speak including hammock bar daily and schmidt	看看今天要做什么包括吊床酒吧和鸡尾酒
552	throughout the day we get that commentary coming from those fed speakers opec will be out with	一天之内,我们得到的评论从那些提供消息的演讲者 opec将会与
553	its monthly oil report that's later this morning and the cash treasury market is closed of course	今早的月度石油报告当然国库现金市场已经关闭了
554	in observance of veterans day certainly wasn't closed yesterday more on that in just a moment	在纪念老兵的日子里,昨天当然没有关闭了,就在一瞬间
555	let's have a look at some of these macro movers for you and in fact thinking about yesterday	让我们来看看一些这些宏观的推动者给你,事实上思考一下昨天
556	and the big moves that we saw higher in yield certainly at the two-year horizon also at the	以及我们所看到产量较高的大步肯定在两年内
557	year went over five percent on five on 10-year yields at one point well we see a continuation	一年每10年的产量超过5%, 一次不错,我们看到继续
558	of that trajectory and wednesday's futures picture waiting for cash trade tomorrow the broader	那轨迹和周二的期货图等着明天进行现金交易
559	futures picture for equities looks pretty positive we're up by 1.9 on nasdaq futures thinking about	股票的期货图看起来很正面我们比纳斯达克期货的1.9
560	where we go on the core we've story and profit all of that offering a little bit of comfort	在那里,我们去核心我们的故事和利润所有提供一点点的舒适
561	{\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}看一看我们商品的价位 {\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}现在
562	little bit higher gold prices move a little bit higher and brent and wti of course focused on	一点点高的黄金价格移动一点点高, Brent和wti当然专注于
563	in the middle east the iranians taking a tough line on enrichment of uranium the gold price is	在中东部,伊朗人对铀浓缩采取强硬路线黄金价格是
564	perhaps more focused on cpi and the trajectory for fed interest rates that is it for bloomberg	也许更注重cpi 和喂养利率的轨迹也就是开花伯格的利率
565	brief surveillance is ahead this is bloomberg	短暂的监视即将到来这片开阔的山庄

该视频共有字幕 565 条。解锁更多字幕为会员功能，请移动到价格

P3 · 【中英字幕】彭博财经简报26.11.11 p03 【无字&原声】 (P3)

【中英字幕】彭博财经简报26.11.11 p03 【无字&原声】 (P3)

发布于 2026-11-12 · 时长 42:13

字幕摘录

时间	英文	中文
0:14	It's 5 a.m. in New York City, 10 a.m. here in London.	现在是纽约早上5点伦敦早上10点
0:17	Good morning, everybody.	早上好,大家好,谢谢
0:18	I'm Anna	我是安娜,我叫安纳
0:18	Edwards with your Bloomberg Brief.	爱德华兹与你的彭博简介。
0:20	Let's get you set up for the day ahead.	令诸众生安住前天.
0:22	Equities get a boost after stronger than expected quarterly results from CoreWeave, reviving	在核心网络的季度结果比预期的要强之后,股票得到增殖,恢复活力
0:27	investor confidence in the AI trade.	投资者对AI贸易的信心.
0:30	Andropix Bankers说正在考虑提高估价
0:33	for the firm's blockbuster IPO at $1.5 trillion or more.	以1.5万亿或更多美元的价格买下公司的IPO
0:38	And a hot CPI print ramps up rate	热的CPI打印率上升了

展开字幕全文（565 条）

序号	英文	中文
1	It's 5 a.m. in New York City, 10 a.m. here in London.	现在是纽约早上5点伦敦早上10点
2	Good morning, everybody.	早上好,大家好,谢谢
3	I'm Anna	我是安娜,我叫安纳
4	Edwards with your Bloomberg Brief.	爱德华兹与你的彭博简介。
5	Let's get you set up for the day ahead.	令诸众生安住前天.
6	Equities get a boost after stronger than expected quarterly results from CoreWeave, reviving	在核心网络的季度结果比预期的要强之后,股票得到增殖,恢复活力
7	investor confidence in the AI trade.	投资者对AI贸易的信心.
8	Andropix Bankers说正在考虑提高估价
9	for the firm's blockbuster IPO at $1.5 trillion or more.	以1.5万亿或更多美元的价格买下公司的IPO
10	And a hot CPI print ramps up rate	热的CPI打印率上升了
11	Mike Betts.	麦克贝茨。
12	Cash treasury markets are closed for Veterans Day after a surge in yields.	现金库市场在收益激增后关闭,用于退伍军人日。
13	Let's get a check on the markets then around the world.	让我们检查一下市场然后在世界各地。
14	Here's Winnie Hsu in Hong Kong	香港的荣氏
15	for the latest on the Asia trade.	最近关于亚洲贸易的情况。
16	Winnie.	荣曰.
17	Yeah, good morning, Anna.	是的,早上好,安娜,你好吗?
18	Well, as you mentioned,	嗯,如你所说,
19	we are seeing pretty positive sentiment in Asia today and actually Asian stocks rising	我们今天在亚洲看到相当积极的情绪和实际上亚洲的股票上升
20	for a third day, headed for its best three days gains since August.	进入8月份以来最好的三天
21	Now, as you mentioned,	现在,正如你提到的,
22	we have the better than expected results from CoreWeave that really reassured investors	我们的CoreWeave结果比预期的要好能让投资者放心
23	that the AI computing demand is still very strong.	AI计算需求仍然非常强烈.
24	还有 FT报道说 Andropix
25	Bankers are considering a raising IPO valuation for the company.	银行家们正在考虑提高公司IPO的估值。
26	So that together you are	所以你们在一起
27	seeing tech stocks in Asia leading gain index here up by about 3.6 percent, also being lifted	亚洲的科技存量领先增长指数上升了3.6% 也正在被取消
28	by the gains that we saw in TSMC.	由我们在TSMC中看到的成果。
29	Of course, we did have that 60 percent jump in revenue	当然,我们确实有 60%的收入跳跃
30	for October.	为十月.
31	And plus the company saying that it is investing 500 million dollars each in	再加上公司说投资5亿美金
32	Andropix and OpenAI.	安德罗皮克斯和OpenAI.
33	Now, Flipboard and take a look at the bond space because we are seeing	现在,翻板,看看债券空间,因为我们看到
34	the impact from that, hotter than expected US CPI numbers raising the expectation for	因此,美国消费物价指数的热度比预期的要高。
35	the Fed to tighten more aggressively.	美联储要更加严厉
36	That is why you are seeing Japan's 10 year and	这就是为什么你看到日本的十年和
37	five year here higher by about nine basis points for the yields.	五年的产量比这高9个基点
38	And we are also seeing	我们还看到
39	a bit of a weakness in the Japanese yen, in fact, weakening to its weakest level in more	日元的一点弱点事实上更弱到最弱
40	than a month after we saw a bit of a strength when it comes to the US dollar.	一个多月后,我们看到美元有一点强劲。
41	Winnie, thanks very much.	荣,非常感谢。
42	Winnie Sue with a look at Asia.	荣瑞苏一览亚洲.
43	Now on to Europe.	现在进入欧洲。
44	This is	这是
45	a picture, a snapshot really of what we are seeing here in the European session.	一个图片,一个真实的快照我们在这里看到的欧洲会议。
46	The stock	库存
47	600 up three tenths of one percent catching up with the US, a strong earnings story to	600倍的十分之三赶上美国, 一个强大的收入故事
48	sell.	卖掉。
49	And some people pointing to the European equity markets as being a bit of a haven away	有些人指向欧洲的股权市场像是个避风港
50	from turmoil in US tech.	美国科技的动荡
51	European tech actually benefiting today up by 1.8 percent and keeping	欧洲技术今天实际受益1.8%,
52	an eye on what's going on in fixed income of all sorts.	观察各种固定收入的情况。
53	No cash trading in the Treasury	财务处没有现金交易
54	market in the United States.	美国市场。
55	But yesterday we saw Treasuries and European bond markets	但昨天我们看到了国库和欧洲债券市场
56	really roiled by that much higher.	被这么高的地盘搅了
57	Well, the higher print than expected on CPI and what	那么,高于预期的消费物价指数和什么
58	that did to yield.	这确实使自己屈服了。
59	So we continue to watch where yields are moving.	因此,我们继续观察产量在移动。
60	With that in mind,	考虑到这一点,
61	we've got US two year futures on the board for you as we continue to track the fallout	继续追踪后遗症我们为你准备了两年的未来
62	from that CPI print and the hawkish commentary from the Fed and the reassessments of Fed	对美联储的重新评估
63	rate hike bets that we've seen as a result.	速率上涨的赌注,我们已经看到的结果。
64	NASDAQ futures up by 1.7 percent, S&P futures	纳斯达克期货上涨1.7% S&P期货
65	up by eight tenths of one percent.	上升了百分之八的1%。
66	从CoreWeave传来的一些新闻线
67	and Anthropic, as we mentioned in our headlines, acting as something of a comfort to the tech	正如我们在头条新闻中所提到的对科技来说是一种安慰
68	trade.	贸易。
69	Let's get some of the stocks we're watching this morning.	我们早上看的股票
70	这是Olivia LaVue。
71	Good morning, Anna.	早上好,安娜,你好吗?
72	You'd be hard pressed to find a part of the tape both globally and	你很难找到磁带的一部分全球和
73	in US pre-market that isn't dominated right now by the AI trade, particularly though this	在美国前市场, 现在不是由AI贸易主导, 尤其是这个
74	morning we're focusing on CoreWeave.	早上我们集中关注核心网络
75	They lifted their four-year guidance and beat on	他们解除了四年的指引继续前进
76	third quarter revenue.	第三季度收入。
77	Both of those metrics coming in handily ahead actually of Wall Street	这两条标准都巧妙地领先于华尔街
78	expectations helping to calm investor nerves over CoreWeave's debt-laden businesses and	帮助投资者平息CoreWeave债务累累的企业和
79	in general the challenges facing the data center industry.	一般而言,数据中心行业面临的挑战。
80	That's lifting AI stocks	这就是解除AI股票
81	across the board.	包罗万象。
82	Another area that we're focused on though is the AI photonics complex.	我们关注的另一个领域是AI光子复合体.
83	Coherence and Lumentum are both higher in pre-market trading after Japanese peer Hamamatsu	在日本同行哈马松之后, 市场前交易的一致性和意义都更高
84	Photonics was up almost 15 percent, showing that photonics demand is still incredibly	光子素上升了近15% 显示光子素的需求仍然惊人
85	strong.	强壮。
86	It's a key component in data centers.	这是数据中心的关键组件。
87	Finally, we have results from Alcon.	最后,我们得到了阿尔康的结果。
88	They're	他们是
89	down in Europe and they're down in pre-market US trading after disappointing third quarter	在欧洲,他们倒下在市场前的美国贸易令人失望的第三季度
90	results that were led by a weakness in their implantables business.	由植入物业务的弱点所带动的结果。
91	Olivia 非常感谢你
92	Olivia Levue和你的前市场推销员
93	Coming up this	来了
94	hour we will get into conversation about the tech trade with Olaolu Ogongu who joins us	一小时后,我们开始讨论与奥拉奥卢·奥贡古的技术交易
95	from Citi joining us to talk about the AI rally and how that rubs up against moves in	从花旗加入我们谈论AI集会和如何抹黑移动英寸
96	bond markets.	债券市场。
97	Let's get back to the CoreWeave story though talking of AI.	让我们回到CoreWeave的故事,尽管谈论AI.
98	Shares are extending	股份正在扩展
99	gains after posting strong results and an upbeat forecast with the CEO Michael Intrator	与首席执行官迈克尔·Intrator一起公布强有力的成果并作出乐观的预测
100	calling it a breakout quarter for the firm.	给律所打个突破区
101	我们把Tom McKenzie带进来,主播
102	opening trade here in London, with me of course and here to tell us all the things we need	在伦敦开设贸易, 当然,我在这里告诉我们我们需要的一切
103	to know about the tech trade.	了解技术交易。
104	先从CoreWeave开始.
105	What was comforting about what Core	何谓安慰什么核心
106	Weave had to say?	编织必须说?
107	你可以从CEOMichael Intrator那里得到解脱
108	of course of this company, on the back of earnings and the upgrade to the forecast.	当然,这家公司, 在收入的背面和升级到预测。
109	So they're now forecasting $13.3 billion in revenue for the full year.	所以他们现在预测全年收入133亿美元.
110	So that was a significant	所以这很重要
111	beat.	节拍。
112	Losses for the company have narrowed so that's significant and they have this chunky	公司的损失已经缩小了所以这是重大的, 他们有这个巨大的
113	backlog of about $132 billion, above $132 billion in terms of orders that they now need to execute	积压约1 320亿美元,超过1 320亿美元,目前需要执行
114	on.	继续
115	So on all those metrics this is very positive for a company that's come under increased	因此,在所有这些衡量标准上这非常正面对于一个公司,它已经得到了增加
116	scrutiny of course around its business model and how viable it is because they have to borrow	当然要围绕其商业模式加以审查,并检查其可行性,因为它们必须借款;
117	at high rates to build out the infrastructure, to build out the data sensors and buy the chips that	高收费建造基础设施建造数据传感器购买芯片
118	they then lease on to the likes of Microsoft and OpenAI.	然后租借给微软公司和OpenAI公司
119	So a beat on that terms.	这么说吧
120	This isn't	这不是
121	completely out of the woods for CoreWeave.	完全走出森林为科雷织。
122	They still have net debt of about $62 billion	他们还有620亿美元的债务
123	but certainly it's a tick in the box and they need to continue performing in these quarters	但他们肯定在盒子里需要继续表演
124	to really assuage the concerns but the market or at least the stock has cooled higher this morning.	真正缓解关注但市场或至少股票已经降温今天上午。
125	Yeah even if we still have questions and concerns about the role of Nvidia right now it seems that	是啊,即使我们还有问题和担心关于Nvidia的角色现在,似乎
126	the narrative out of CoreWeave is at least a positive one in the short term.	CoreWeave的叙述在短期内至少是正面的。
127	What else have	还有什么?
128	we got in the mix then?	我们混进去了?
129	Anthropic and the conversations there about the, well we know	安东尼和那里的对话我们知道
130	a bit more about the timing don't we it seems, about this IPO, the planned timing at least and	更多关于时机,我们不它看起来,关于这个IPO, 计划的时间至少和
131	planned valuations.	计划估值。
132	What are the reports like around just how high or low the valuation might	报告是什么样子的只是估价有多高或低
133	go here?	来这里?
134	The reports suggest there is huge demand for Anthropics IPOs.	报告表明对人类学IPO的需求巨大.
135	The Financial Times front	金融时报前线
136	page today they're looking at a valuation potentially of more than one and a half,	今天他们正在研究一个超过1.5的估价
137	more than one and a half trillion dollars.	超过1.5万亿美元。
138	Now that would make it the biggest IPO ever on record.	这将是有史以来最大的IPO记录。
139	They had set a pricing yesterday in the update to the S1, the SEC, the Securities Exchange Commission	他们昨天在S1的更新中设定了定价证监会证券交易委员会
140	of between 70 to 78 dollars per share.	每股70至78美元之间。
141	It seems they now may increase that pricing which is	看来他们现在可能会增加价格,也就是
142	unusual given the demand they've seen.	他们看到的要求不同寻常
143	And in terms of the forward picture, look this is still	从前景来看,看这还是
144	a company that is projecting into the 2030s commitments of around 900 billion US dollars	2030年代约9 000亿美元的承诺
145	but revenues are growing.	但收入正在增长。
146	The revenue growth is phenomenal, it's nearly 50 percent, it's slowed,	收入的增长是惊人的, 将近50%, 它放缓,
147	the revenue growth is slowed but from a very very high level.	收入增长放缓,但增长幅度非常高。
148	It seems right now, and this is the	现在看来,这是
149	most important takeaway, this IPO will get through.	最重要的外卖, 这个IPO会通过。
150	Then in the secondaries, how do the public markets	然后在二手店里公共市场怎么样
151	then react to that?	然后对此作出反应?
152	Is there a pot, does it sustain it or do people take cash off the table?	有没有大麻,它维持它或者人们从桌子上拿走现金?
153	Yeah we certainly did have one guest on Asia program I think, didn't we, who was... Jack Selby.	是啊,我们确实有一个客人在亚洲的节目我想,是不是我们,谁是... 杰克・塞尔比。
154	Yeah a little bit cautious on what happens when lockups come to an end and that sort of thing.	是啊,有点谨慎当锁结束和那种事情。
155	Open AI,第三季度收入数字通过Open AI增加50%.
156	I mean	我是说
157	telling us a comforting story about monetization and the ability to monetize these models.	告诉我们一个令人欣慰的故事关于货币化和将这些模型货币化的能力。
158	如果你把这些三家企业放在一起 CoreWeave Anthropic 开放AI
159	the one clear takeaway for the bulls is the demand continues to be there.	对公牛来说唯一明确的外卖是需求还在继续
160	Massive demand,	巨大的需求,
161	massive demand for compute, that's the CoreWeave story with that backlog of 132 billion,	大量的需求计算, 这是核心 Weave的故事与积压的132亿,
162	massive demand for the frontier models still for Open AI and Anthropic.	对开放AI和Anthropic的前沿模型的大量需求。
163	Open AI, as you said,	打开AI,正如你说的,
164	10 billion US dollars in the most recent quarter in terms of the revenues that came through,	从最近一个季度的收入来看,100亿美元,
165	on an annualized rate.	年薪标准。
166	You're looking at revenues now of about 50 billion dollars,	你现在看到的是500亿美元的收入,
167	annualized revenues for Open AI.	公开AI的年收入。
168	So they are catching up with Anthropic and they are proving	所以他们追上Anthropic 他们证明
169	that there is still demand.	仍然有需求。
170	Now they're still making a loss and the margin is still very much	现在他们还在亏本,赔率仍然很高
171	in negative territory for Open AI, but those losses have narrowed.	但是损失已经缩小了
172	Okay Tom, thank you very	好吧,汤姆,谢谢你
173	much.	非常喜欢
174	Tom McKenzie of course with the latest on those tech themes.	Tom McKenzie当然有这些技术主题的最新消息
175	Tech themes rubbing up against	技术主题与
176	the latest inflation data out of the US.	美国最新的通货膨胀数据。
177	The latest CPI report came in then hot,	最新的消费物价指数报告当时很热
178	sending two-year treasury yields soaring by the most in some 19 months.	两年的国库收益在大约19个月里猛增最多。
179	Chicago Fed President	芝加哥联邦主席
180	Austin Coolsby weighed in on the report on PBS NewsHour.	奥斯汀·柯尔斯比在PBS新闻频道的报道中有所评价.
181	Take a listen.	来听听
182	It's another distressing	又是又一个烦恼
183	report, borderline disturbing.	报告,边界线扰动。
184	So we've got a real inflation issue on our hands that has been	所以我们手上有真正的通货膨胀问题
185	developing and we're going to have to deal with that.	正在发展,我们不得不处理。
186	Now the cash treasury market is closed today	现今金库市场今日关闭
187	in the US, but there's movement elsewhere of course and there was plenty of movement in	在美国,但有移动当然其他地方, 有很多移动
188	yesterday's session.	昨天的会议。
189	Ven Ram joins us, Bloomberg's Ven Ram, with some analysis.	文・拉姆加入我们,彭博的文・拉姆, 有一些分析。
190	So we established	所以我们建立了
191	over the last 24 hours that stocks like tech and that bond markets once again do not like inflation	过去24小时内科技等股票和债券市场再次不喜欢通货膨胀
192	and that's certainly what we saw at the front end of the US curve.	这当然是我们在美国曲线前端看到的。
193	How surprised were you by the	你有多惊讶
194	extent of the move in treasuries and other global bond markets on the back of that inflation print?	国库和其他全球债券市场的变动幅度?
195	Hi Anna, so I don't think I was surprised at all because you know this was an accident	嗨,安娜,所以我不觉得惊讶,因为你知道这是一个意外
196	that was waiting to happen.	等待着发生
197	We have discussed in recent sessions how well the US economy has	我们最近几届会议讨论过美国经济如何发展
198	been doing, real growth has been above 3% which is above trend and you've got inflation that is	一直以来,实际增长 3%以上,高于趋势通货膨胀是
199	running well above 3% and yesterday's inflation was to the upside.	而昨天的通货膨胀是好的。
200	So the markets have been	所以市场已经
201	glossing over the fact that you know how far does the Fed have to put up rates here and it looks	掩盖了一个事实,你知道美联储必须多远将利率在这里,它看起来
202	like they have to go a long way because you know even the Fed's own estimate of the real neutral	就像他们必须走很长的路因为你甚至知道美联储自己对真正的中立者的估计
203	rate is 120 basis points now and clearly that's understating it and as Goolsbee said this is	速率是120个基点现在,很明显,这是低估它,正如Goolsbee说这是
204	disturbing and I think that the Fed has got to go more than three times which is what the markets are	美联储必须走三次多那就是市场
205	currently pricing in and if the Fed has got to keep raising rates I think that the front end is	如果美联储继续提高利率我认为前端是
206	more or less there around 475, 478 which is the spread over the Fed mid-rate is considerable but	大约475 478美元也就是美联储中产率的分布很大
207	if you look at the long end that's where I'm really concerned and I think that the 10 year is	如果你看长的一端那才是我真正关心的地方我认为10年是
208	hovering around 5% as we talk but I think that the 10 year and the 30 year yields have really	在我们谈话时徘徊在5%左右但我认为10年和30年的产量
209	have much more work to do and I think that the direction of yields is higher from here.	还有更多的工作要做,我认为产量的方向从这里更高。
210	Yes it's interesting isn't it we got back above 5% didn't we yesterday on the 10 year we closed	有意思的是,我们回来的不是5%以上吗昨天我们关闭了10年
211	at 4.99 and obviously no cash trading today.	今天没有现金交易
212	So what dictates the direction of travel next then	接下来旅行的方向是什么?
213	Ven?	温?
214	We saw of course the the fallout from the AI nervousness in the United States post the	当然,我们看到了美国AI的紧张情绪带来的后遗症
215	buying and therefore lower yields but that thought process or that trip that investment	购买并因此降低收益,但思考过程或投资之旅
216	thesis seems to have moved aside.	论文似乎已经挪到一边去了。
217	Well as there are going to be episodes of volatility in the	会有波动
218	equity markets you will see tactical rallies in treasuries but I don't think that's the	股票市场,你会看到战术集会在国库,但我不认为这是
219	sustainable or the strategic direction of treasuries from here because you know if you're	或从这里得到的国库战略方向因为你知道自己是否
220	a nominal bond holder you want to be compensated for inflation that's the point of buying bonds	名义债券持有者,您想获得通货膨胀补偿,这是购买债券的要点
221	and if you if you're not getting an adequate inflation compensation	如果你没有得到足够的通货膨胀补偿
222	what is the point of that five nominal coupons because they are going to be eroded by inflation	那五张名义优惠券有什么意义,因为它们将被通货膨胀侵蚀
223	so I think that the direction of yields at least the long date of the bonds is definitely higher	所以我认为,收益方向至少在债券的漫长日期绝对更高
224	from here and I think that we are not yet in the value zone if you look at the median of the	从这里,我认为,我们还没有在价值区如果你看看中间值
225	inflation adjusted yields on the 10 year treasury is going back in history it's about two and a half	10年的通货膨胀调整收益率在历史上是大约是2.5年
226	percent and I we are not at that level so I think that we have got further to go here.	我和我们没有达到这个水平所以我想我们还有更多的工作要做
227	Okay Ben thank you very much thanks for the analysis Bloomberg's	还好本非常感谢你对彭博公司的分析
228	Venram from the markets live team now to other top stories that are trending on the Bloomberg	来自市场现场的Venram 团队到其他顶级故事正在流行于彭博会
229	terminal this morning Morgan Stanley says global equity hedge funds cut risk at the fastest pace	Morgan Stanley说,全球股权对冲基金以最快的速度降低风险
230	in more than a decade through the first week of November the retreat came as AI stocks sold off	在11月第一个星期的十几年里, 退场是随着AI股票的出售而来的
231	following the midterm elections hedge funds returns in the first week of November were	在中期选举之后,11月第一个星期的对冲基金收益
232	negative across all regions.	所有区域的负数。
233	美国驻华大使David Perdue指出,
234	Nvidia CEO Jensen Huang and an alleged Chinese spy is posing a test to bilateral relations he	Nvidia首席执行官Jensen Huang和一位中国间谍正在考验他的双边关系
235	says US-China relations are quote bumpy ahead of next week's summit between presidents Trump	说中美关系在川普总统下周的峰会前出现颠簸
236	and the Chinese to take place in Shenzhen in China meanwhile treasury secretary Scott Besson	和中国人将在深圳举行同时,财政部秘书斯科特·贝松
237	hailed an improvement in US-China engagements ahead of president Trump's visit next week	在川普总统下周访问之前,
238	he spoke to the national committee on US-China relations.	他和中美关系全国委员会谈过了
239	We are establishing a direct channel to ensure that either nation can promptly alert the other	我们正在建立一个直接渠道,以确保任何国家能够迅速向对方发出警报。
240	to serious incidents involving its SI models.	涉及其职业分类模型的严重事件。
241	As SI advances so will the need to engage in	随着职业介绍所的推进,需要参与
242	new areas of risk management and to demonstrate how our two great nations can reconcile the	新的风险管理领域,并展示我们两个伟大国家如何协调
243	demands of competition with the responsibilities of leadership.	要求与领导责任竞争。
244	Coming up on the program Russia	即将上演俄罗斯的节目
245	and Ukraine try to negotiate a peace deal more on that next this is Bloomberg.	接下来是彭博社,
246	This is Bloomberg Brief I'm Anna Edwards live in London.	这是彭博简介我是安娜·爱德华兹住在伦敦
247	Ukraine and Russia continue a second day	乌克兰和俄罗斯继续第二天
248	of US-led peace talks in Abu Dhabi let's get an update with Bloomberg's Greg Sullivan.	美国主导的阿布扎比和谈让我们了解彭博的格雷格·沙利文
249	Greg what's	格雷格,这是什么?
250	the latest then coming from these talks a couple of days in and some of the language seems to be	最近从这些谈话中传来的一些语言
251	quite positive any substance?	相当积极的任何物质?
252	Right the second day of talks did kick off today Ukrainian president	今天,乌克兰总统的第二天会谈确实开始了
253	Volodymyr Zelensky said that issues like de-escalation potential ceasefires over	沃洛迪米尔·泽连斯基说,诸如缓和可能停火的问题
254	the Black Sea and energy infrastructure could be on the table in today's talks.	在今天的会谈中,黑海和能源基础设施可以放在桌面上。
255	Coming out of	出来了
256	yesterday's talks the US and Ukraine cast them as rather constructive and productive.	昨天的会谈使美国和乌克兰认为它们具有相当的建设性和建设性。
257	Russia was	俄罗斯当时
258	slightly more reticent an official that was part of the talks said that it's still too early to say	稍稍迟钝一点身为谈判一部分的官员说现在说还为时过早
259	how the negotiations are going.	谈判进展如何?
260	These are the first negotiations since February when the US	这是美国2月份以来的第一次谈判
261	shifted its focus to the its war on Iran so now that they're resuming it is an interesting sign	现在他们又重新发动了这场战争,
262	that there is some momentum and some sides are casting it as constructive but still the fact	有一些势头,有些方面认为它具有建设性,但事实仍然是:
263	remains that a lot of issues remain on the table and there is quite a chasm between the two sides	双方仍然存在着很大的分歧
264	leading into these talks on those issues.	就这些问题展开会谈。
265	Meanwhile the attacks by both sides do seem to continue	同时双方的攻击似乎仍在继续
266	That's right we saw attacks overnight from both Ukraine and Russia.	没错,我们一晚上就看到来自乌克兰和俄罗斯的攻击。
267	Ukraine said that	乌克兰说,
268	energy infrastructure was struck while Russia said that oil infrastructure in Ust-Luga was hit	俄罗斯说乌斯图-卢加的石油基础设施受到冲击,
269	so they haven't been quite to the same scale that we saw leading up to the attacks.	所以他们还没有达到我们所看到的攻击前的规模
270	Both sides	双方
271	have been escalating their attacks prior to these talks yet clearly it's still ongoing even as	在会谈之前,他们的攻击不断升级,但显然仍在进行之中,即使
272	Zelensky said that today potential ceasefires over energy could be on the table but again Russia has	Zelensky说,今天潜在的能源停火可能摆在桌面上,但俄罗斯再次
273	cautioned that it is still too early to say and up until now Russia hasn't backed away from its	警告说,现在说起来还为时过早,直到现在,俄罗斯还没有放弃它。
274	maximalist demands and has been cautious about any kind of acceptance of a ceasefire actually	最大程度的要求,并对实际接受停火的任何形式持谨慎态度
275	broadly rejecting the need for a ceasefire as potentially only buying Ukraine time to regroup.	普遍反对停火,因为可能只是为乌克兰重新集结争取时间。
276	Right and it's interesting so at this meeting we have the U.S. of course bringing these two sides	癸 Τ届 硂穦 и讽礛穦Τ瓣 р硂ㄢ娩盿ㄓ
277	together Ukraine is there Russia is there not much European presence but there has been some	俄国没有多少欧洲存在,
278	suggestion that maybe Europe has a part to play here then Greg.	说明欧洲也许可以在这里发挥作用然后是格雷格
279	That's right it's actually	没错,其实
280	interesting yesterday on Tuesday ahead of the talks Ukraine said that they met with	昨天在会谈前的星期二,乌克兰说,他们会晤
281	their European counterparts who are in Abu Dhabi alongside U.S. envoys Steve Witkoff and	在阿布扎比的欧洲同行与美国特使Steve Witkoff和
282	Jared Kushner.	贾里德·库什纳.
283	Today the head of the Ukrainian delegation Rustam Umarov said that after the	今天,乌克兰代表团团长鲁斯塔姆·乌马罗夫说,
284	trilateral talks with Russia and the U.S. Ukraine plans to meet again with their European partners	与俄罗斯和美国的三边会谈计划再次与欧洲伙伴会晤
285	and then on top of that U.S. Secretary of State Marco Rubio said that Europe needs a place at the	然后在美国国务卿马可·鲁比奥的上面说,欧洲需要有一个位置
286	table and he hopes that the talks will expand to include them going forward and that makes sense	他希望会谈能够扩大范围,包括继续会谈,这样才有意义。
287	for Europe who sees this conflict as part of their security infrastructure that see it as a direct	欧洲认为这场冲突是其安全基础设施的一部分,认为它是直接的
288	threat since it is in Europe and they have long wanted to be at the table but have largely been	由于威胁是在欧洲,他们早就想坐到桌子上,但基本上一直
289	excluded from talks during President Trump's second administration.	特朗普总统第二任执政期间被排除在会谈之外.
290	Just briefly then Greg	只是短暂的,然后格雷格
291	I mean what are the what are the sticking points are we still talking about territory and the	我的意思是,什么是什么是坚守点我们仍然谈论领土和
292	future security guarantees for Ukraine?	乌克兰未来的安全保障?
293	Those are the big ones there have been a lot of issues on	这些是大问题,有很多问题
294	the table but there's no doubt that the two most intractable issues are the security guarantees.	但毫无疑问,两个最棘手的问题是安全保障。
295	It's hard to see what Moscow would accept that would also please Kiev and be secure enough that	很难想象莫斯科会接受什么也能让基辅高兴并且足够安全
296	they would feel that there is a less of a threat of Russian aggression going down the future and	他们觉得俄国侵略的威胁会减少
297	then like you said territory.	就像你说的地盘
298	Moscow hasn't backed away from demands that Ukraine cede territory it	莫斯科没有放弃乌克兰割让领土的要求
299	still controls and that Moscow hasn't been able to take militarily.	莫斯科一直无法军事控制
300	Ukraine says that it's their	乌克兰说这是他们的
301	sovereign territory they don't want to take it a lot of it is heavily fortified and losing it would	主权领土,他们不想占据它很多是它大量防御工事,失去它会
302	potentially leave other areas of Ukraine open to future attack so those do remain two huge sticking	未来乌克兰的其他地区可能会遭到攻击所以这些地方仍然有两根巨大的刺痕
303	points.	点。
304	Greg thank you so much thanks for the update Bloomberg's Greg Sullivan with the latest	格雷格非常感谢你更新了布隆伯格的格雷格·沙利文
305	on those talks taking place in Abu Dhabi.	在阿布扎比举行的会谈
306	美国战争部长Pete Hegseth
307	he's dodged an impeachment effort more on that and what else is making headlines in our front	他躲过了弹劾更多的关于这一点还有什么是我们前面的头条新闻
308	page news next this is Bloomberg.	接下来是彭博社
309	Welcome back this is the brief now Chevron has reported its	欢迎回来这是雪佛龙现在报告的情况
310	second straight quarter a blockbuster results in its latest earnings.	第二直四分之一的块块导致它的最新收入。
311	不过,CFO Ima Bonner不是
312	taking these boom times for granted on the latest episode of Bloomberg chief future officer Bonner	在布隆伯格未来首席军官伯纳的最近一集中,
313	takes Bloomberg's Anne Marie Horden to the Permian Basin where Chevron produces about a million	把彭博的安妮·玛丽·霍登带到佩尔米安盆地雪佛龙在那里生产了大约一百万
314	barrels a day.	一天一桶。 (笑声)
315	A million barrels a day is our sweet spot because we have the factory optimized	一天一百万桶是我们的甜点因为工厂已经优化了
316	at a million barrels a day we have reliability efforts that allow us to produce at a million	每天一百万桶,我们有可靠的努力使我们生产百万桶
317	barrels a day with less cost.	每天桶,成本较低。
318	What does reliability mean?	可靠性是什么意思?
319	I mean it means keeping our plant here	我的意思是,它意味着保持我们的植物在这里
320	up for the maximum amount of time so avoiding unplanned events shutdowns issues with equipment	* 尽量缩短时间,避免意外事件
321	issues with the wells coming into the the facility there's 27 wells coming into this facility we try	27口井进入了我们尝试的
322	make them as productive as possible one of the ways we're doing that is putting advanced chemicals	让他们尽可能多地生产我们这样做的方法之一是放置先进的化学品
323	into the reservoir and think of that as kind of it washes the oil from the rock and so this is an	进入水库想到它会把岩石上的油洗掉
324	area where we have seen over the last year 20 percent increase in production from whales that	去年我们看到鲸鱼产量增加了20%
325	have been treated with this chemical.	已经用这种化学品处理过。
326	It also involves keeping the facilities running at high	它还涉及使设施保持高水平运作。
327	reliability equipment monitoring doing turnarounds proactive maintenance all of those things allow	进行可靠设备监测进行主动维护
328	the equipment behind us to operate at the right technical limits that also contributes to reliability	我们后面的设备在适当的技术限度下运行,这也有助于提高可靠性
329	how important is that in a time of geopolitics where potentially other places are a little bit	在地缘政治时代,其他地方可能有点
330	on uncertain footing it's critical always but at a time where we've got disruptions around the world	在不确定的基础上,它总是关键但此时,我们有扰乱世界各地
331	at a time where the US is a net exporter and it's even more important and you can watch Bloomberg	此时美国是净出口国更重要的是你可以看布隆伯格
332	Chief Future Officer featuring Chevron CFO Ima Bonner that's tonight at 9 30 eastern time on	今晚9点30分东部时间
333	Bloomberg television time now for your front page news first up on the Washington Post the	彭博电视台的首页新闻首播于华盛顿邮报
334	house narrowly blocked an effort to impeach defense secretary Pete Hegseth Democrats who take over	屋里狭窄地堵住了弹劾国防部长皮特·赫格塞斯接管的民主党人的努力
335	Congress in January have said they will seek to use their power to remove Hegseth from office	一月份的国会说,他们将试图利用他们的权力解除黑格赛的职务
336	next up the New York Times reported Treasury Secretary Scott Begley of what this means for	接下来纽约时报报道了财政部长斯科特·贝格利(Scott Begley) 这代表着什么
337	tech investing how this rubs up against higher inflation and the bond market moves of this week	科技投资如何消磨通货膨胀和本周债券市场波动
338	more on that shortly this is Bloomberg it's 5 30 a.m in New York City 10 30 a.m here in London	很快这里就是彭博社纽约早上5点30分伦敦早上10点30分
339	good morning everybody I'm Anna Edwards with your Bloomberg Brief let's get you set up for the day	早上好,大家好我是安娜·爱德华兹与你的彭博简介让我们为你安排一天
340	ahead equities get a boost after stronger than expected quarterly results from Core Weave	在核心编织的季度结果比预期的要强之后,股票会得到提升
341	reviving investor confidence in the AI trade Anthropix bankers said to be considering a higher	恢复投资者对AI贸易的信心,据说Anthropix银行家正在考虑提高
342	valuation for the firm's blockbuster IPO at one and a half trillion dollars or more and a hot CPI	价值1.5万亿美元或更多和热的消费物价指数
343	print ramps up rate hike bets cash treasury markets are closed for Veterans Day after a surge	现金市场被关闭退役军人日
344	in yields quick check on the markets then pre-market as we are S&P futures nasdaq futures	快速查查市场,然后上市前,因为我们是S&P期货 Nasdaq期货
345	both point higher European futures getting a boost from the tech trade and actually threatening to	高欧洲期货从技术贸易中得到提振并威胁
346	close at a record here in Europe meanwhile US futures do point higher those joint tech themes	而美国的未来却将联合技术主题提升到更高的水平
347	{\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}在Core Weave和Anthropix的周围 {\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}他们一晚上给大家一些安慰
348	we do see a continuation of the higher yield story that was so dominant yesterday after that	我们确实看到一个更高的收益故事的延续昨天如此主导之后
349	higher than expected inflation report let's get some stocks to watch today here's Olivia Lafue	比预期的通胀报告还要高, 让我们看看今天的股票,这里是Olivia Lafue
350	hi Anna yes every single part of the AI trade is getting a boost today from neoclouds to server	Hi Anna 是的 AI交易的每个部分今天都从新云到服务器都有了增长
351	and memory providers to data center industrial players every facet is gaining and that's in	和数据中心的内存提供者工业玩家的每一个方面都在增加
352	large part as you mentioned due to the solid set of results that we got from Core Weave they	大部分是你们提到的因为我们从核心编织中获得的坚实结果
353	guidance for the year and reported a solid set of third quarter sales both of those prints coming	该年的指南,并报告了一套坚固的第三季度销售量,这两种印刷品都来了
354	in ahead of wall street estimates and really helping to calm investor nerves about the debt	帮助投资者平息债务
355	laden business that Core Weave is currently running speaking to investors today they're	今天Core Weave正在跟投资者谈话
356	pointing out the fact that short interest in Core Weave was quite high and also the fact that	指出对核心编织的短暂兴趣相当高,并且指出
357	it's just this is just relief we're seeing relief across the board from investors today	只是今天投资者的解脱
358	another sector of the or sect of the AI trade that's strong today is photonic stocks momentum	人工智能贸易的另一部分或部分今天很活跃是光子股票的势头
359	they're continuing from yesterday we had strong results from Japanese peer Hamamatsu regarding	从昨天开始我们从日本同行Hamamatsu的强烈结果
360	a strong demand continuing for photonics with regards to data centers so you're seeing coherent	对数据中心的光子学需求很大,所以你可以看到一致性
361	and momentum strong off the back of that one stock that's not happy today contrary to its name bright	和强大的动力从一个股票的背面今天不高兴与它的名字亮
362	view their fourth quarter results were disappointing and their guidance also underwhelmed investors	认为他们的第四季度结果令人失望,他们的指导也使投资者感到沮丧。
363	stock is down 17 percent so perhaps underwhelm is a bit of an under exaggeration there they seem to	股票跌了17% 所以也许下沉有点夸张了
364	be very very disappointed with the results yeah bit of an understatement not such a bright view	对结果非常失望有点小题大作不太清楚
365	Olivia thank you very much Olivia the view with the latest on the stocks we're watching this morning	Olivia 非常感谢你 Olivia 今天早上看的股票最新风景
366	now a tech rally is lifting stocks higher as Olivia was pointing out following strong quarterly	现在科技集会正在提高股票水平就像Olivia指出的
367	results from both Core Weave and Open AI so that's the backstory feeling better about technology	Core Weave和Open AI的结果, 使得对技术的背面感觉更好
368	this morning let's bring into the conversation then Olaolu Agango who is head of portfolio	今天早上,我们把奥拉奥卢·阿甘戈带到对话中来谁是组合的负责人
369	and analytics at City very nice to have you with us Olaolu your thoughts then on AI post the midterms	和在城市的分析很高兴你和我们在一起奥劳鲁,然后你的想法在AI 张贴的中期。
370	but in the context of all the volatility we've seen in markets a sell-off following but followed	但从市场波动的角度来看市场有售卖行为
371	{\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}你和你在人工智能投资上的期望是什么 {\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}你应该知道
372	well thank you so much for having me I mean we say elections create volatility but really is	非常感谢你邀请我我们说选举会造成动荡但真的
373	the fundamentals that drives long-term results and the volatility last week you know we can't	推动长期成果的基本因素以及上周的波动
374	underscore it in the data that we look at we're looking at the VIX going back to 1990 and it was	在数据中强调,我们正在研究 VIX 追溯到1990年
375	the third highest one day percentage change in the VIX so like that puts it in context there's a lot	VIX中第三高的一天百分比变化这样就使它在上下文中有很多
376	of volatility but if we go back to earnings again long-term fundamentals is driven you know by by	不稳定,但如果我们回去收入再次长期的基本原理驱动通过
377	earnings we're 80 percent of the way through more than 80 percent of the way through we are seeing	收入占我们80%的路通过超过80%的路通过我们看到
378	30 percent year-over-year earnings growth for what has been reported thus far recent earnings	迄今报告的近年收入增长30%
379	included it's been outstanding is the third consecutive quarter of over 25 percent year-over-year	包括它一直未完成是连续第三季度超过25%的一年
380	earnings growth it is the eighth consecutive quarter of double-digit earnings growth so where	收入增长是两位数收入增长的连续第八季度。
381	does that put us just with you know valuations overall for the S&P it's about 18 times it's not	这是否意味着我们只是与你知道总体的估价对S&P 它大约18倍
382	expensive it's the lowest it's been in roughly three years so we like the market here we continue	价格是三年来最低的所以我们喜欢这里的市场
383	like the market here last week it was market trying to predict policy and and it's a hard	就像上周这里的市场一样市场试图预测政策很难
384	game to predict okay so PEs make things look attractive valuations are attractive then	游戏可以预测,所以PEs 使事物看起来有吸引力的估价是具有吸引力的
385	you say I mean some any skeptics some skeptics point to the earnings side of that PE and say	你说我是指某些怀疑者某些怀疑者指的就是PE的收入
386	we're just not quite so confident in that as we used to be and maybe analysts haven't caught up	我们只是不太有信心像我们过去一样也许分析师没有赶上
387	with the political developments that we now anticipate in 2027 post the midterms a slower	随着我们目前预计的2027年中期政治发展放缓,
388	rollout of data centers essentially if we do see that slowing down does that undermine the	数据中心的推出,基本上如果我们看到减速会损害到
389	earnings story or not materially so yes elections happened last week regardless of the party that	不管有没有收入所以上星期有选举
390	are empowered there are a couple of things that you know you really can't change I'll talk about	有几件事情是不能改变的我会说
391	deficits in a second but AI is one I was joking with with some of the other day you can't put	有一秒钟的赤字,但AI是之一我开玩笑与一些前天你不能说
392	the genie back in the bottle they are between 3 000 and 5 000 call of data centers in the US	在瓶子里的精灵在美国有3000到5000个数据中心
393	you can't have AI without data centers those 3 000 and 5 000 are operating data centers and	你不能有AI 没有数据中心那3000和5000是运行数据中心
394	they're an equal amount they're in different stages of planning now yes we have an election	他们的金额是相等的他们处于不同的计划阶段现在有选举
395	there are government officials there are some states that are reluctant or hesitant around	有政府官员有一些州不愿意或犹豫不决
396	the development of data centers but there are also some some some government officials in states	数据中心的发展,但各州也有一些政府官员。
397	that are very pro data centers at the end of the day it is a state by state legislation if there	数据中心在一天结束时是州立法规定的
398	is apprehension or pushback and once that you just go to another state and you build you know	害怕或退缩一旦你去了另一个州你就会建起来
399	there are also jokes they can build in space but regardless of which you still need cyber security	还有一些笑话,他们可以在太空制造,但不管你还需要什么网络安全
400	so that's a big component of AI you still need critical minerals you need copper you need steel	所以这是人工智能的一大部分你仍然需要关键的矿物你需要铜你需要钢铁
401	you need aluminum you need a number of other things that are persistent regardless of the	你需要铝,你需要一些其他的持久的东西,无论
402	election and the you know quote-unquote slowdown for us in our portfolios we're overweight cyber	在选举和你知道的引文 - 引文减速在我们的组合我们超重的网络
403	security we're overweight some of those critical metals that you need in order to construct data	安全,我们超重一些关键金属,你需要构建数据
404	你期待AI capex的减速
405	and if so is that going to be what we want allowed because i wasn't sure through the last earnings	如果是这样,那就是我们想要允许的因为我不确定通过最后的收入
406	season whether as an investor community we were comforted by high capex or slightly disturbed by	无论我们作为投资人是否被高额的暴风雨或稍有不安
407	so there there are two components right so the capex is necessary in the early stages of any	因此,有两部分是正确的,所以顶盖在早期是必需的。
408	innovation we expect that to slow at some point it's not it's not concerning for us one company's	创新,我们期望在某个时候减慢与我们公司无关
409	capex is another company's revenue and that's again just the initial part but if you think of	Capex是另一家公司的收入,这还是最初的部分,但如果你想到
410	the life cycle of this innovative technology that we have we're just in the early innings of it so	我们掌握的这种创新技术的生命周期才刚刚开始
411	we're talking about the hyperscalers we're talking about data centers yes but arguably we have not	我们谈论的超规模的,我们谈论的数据中心是的,但可以说我们没有
412	seen the productivity gains yet for the vast majority of companies with regards to AI and that	在大赦国际方面,绝大多数公司都取得了生产率的提高。
413	in and of itself is an additional boost so whilst yes capex we do expect to slow it at some point	这本身就是一种额外的刺激,所以,虽然是顶峰,我们确实期望在某个时候减缓它。
414	with this earlier or later franklin is not really the key driver the key driver is once the	Franklin不是关键司机关键司机曾经是
415	infrastructure is in place the productivity gains and benefits that we expect to see for the broader	基础设施已经到位,我们期望在更大范围内看到生产率的提高和效益。
416	corporate universe is still expected to be able to drive long-term earnings and grow okay and that	公司宇宙仍然有望推动长期收入并增长,
417	might have an impact on inflation talking of inflation that data taking some in the market	可能会对通货膨胀产生影响说通货膨胀, 数据带一些在市场上
418	by surprise moving the bond market substantially particularly at the short end let's just have a	特别在短短的一端我们来一个
419	listen to how austin gulsby of the chicago fed of course how he captured captured the mood around	听听芝加哥的奥斯汀·古斯比如何捕捉周围的情绪
420	that cpi print it's another distressing report borderline disturbing so we we've got a real	那CPI的指纹是另一个令人困扰的报告边界线干扰所以我们有真实的
421	inflation issue on our hands that has been developing and and we're going to have to deal	我们手上的通货膨胀问题一直在发展,我们不得不处理
422	with that borderline disturbing for gulsby allow how did it impact your thinking around fixed income	对Gulsby来说边界线的干扰允许它如何影响你对固定收入的思考
423	i mean are you factoring in a higher inflation for longer environment not just on the back of	我的意思是,你考虑较高的通货膨胀对于更长的环境不只是背面
424	yesterday's print but more broadly thinking about u.s inflation so so i will say our our	昨天的印刷品,但更广义的思考你的通货膨胀所以我要说我们
425	view and i think we have a fairly non-consensus view our view is that inflation will run hotter	我们的观点是通货膨胀会更热
426	than consensus is thinking and that really by not hiking at the last foc meeting that the fed	而不是共识是思考, 而实际上,不徒步在最后一次foc会议,
427	is setting themselves up to be behind the curve cpi print yesterday came in higher now you know	昨天的cpi打印值上升了你知道
428	month over month type of readings can be volatile but the share of cpi components that are rising at	每月的读数类型可能不稳定,但cpi组件的比例在上升。
429	5%或更快的跳跃到56% 在october 它从44 在September 所以october份额
430	is the highest since 2022 so yes we do think inflation is a concern now with regards to	是2022年以来最高的所以是的我们确实认为通货膨胀是现在
431	fixed income we've been saying this for some time the the fed and the fed chair have made	固定收入我们已经说了一段时间了联邦和联邦的椅子已经做了
432	it very very clear that price stability and bringing in inflation is a number one priority	价格稳定和通货膨胀是头等大事
433	for them and we're not there yet as a result of that you couple where we are with inflation the	对他们来说,我们还没到那里,因为你们和通货膨胀在一起
434	signaling or you know they don't do signaling but they've been very overt with regards to that	信号,或你知道他们不做信号, 但他们一直非常公开
435	we expect rates to go higher as a result of that earlier in the year and actually recently as well	由于今年早些时候,以及最近,我们预计费率会提高。
436	we've adjusted our duration position so we moved from our our mid and trend our mid and longer	我们调整了工期位置所以我们从我们的中点和趋势
437	term duration and we're in shorter duration fixed income instruments why because we wanted to be	我们的固定收入工具是因为我们想成为
438	able to to try and insulate ourselves somewhat from the the moves that we're expecting in the	能够尝试和隔绝我们期待的动作
439	and add it to gold other areas that can increase the balance in	并添加到金色的其他地区,增加平衡
440	portfolios because with regards to fixed income we do believe is going to be challenging continues	因为在固定收入方面,我们确实相信,将继续面临挑战。
441	to be volatile alalu thank you very much alalu aganga thank you for your time from city good to	感谢你们从城市到城市的时间
442	get your perspective on the program now to other top stories that are trending on the blueberg	将你对节目的看法转到蓝贝格上流传的其他顶尖故事
443	terminal this morning iran says it will not remove a single atom of enriched nuclear material from	今早Iran说它不会从浓缩核材料中移除一个原子
444	the country in an interview with the pan arab tv network al mayadeed iran supreme national security	在接受泛阿拉伯电视网的采访时,
445	council secretary said iran has informed russia that its enriched material will remain in the	政务院秘书说,伊兰已经通知俄罗斯,其浓缩材料将留在
446	country for domestic use he said the material is required to design nuclear-powered ships	他说,这些材料是设计核动力船舶所需的。
447	and submarines prices of baby food and formula in the united states surged by the most on record	美国婴儿食品和配方的低价涨幅创纪录最高
448	in october rising by about five percent a combination of factors are likely contributing	综合各种因素可能促成
449	to the increase in formula prices including higher costs for ingredients and transportation	包括增加成份和运输费用
450	inflation byd has apologized after some of its great tang electric suvs were assembled	通货膨胀 byd 已经道歉在它的一些伟大的尖端电动软体组装
451	with their front and rear wheel rims reversed the automaker traced the mistake to a supplier	汽车制造商把错误追踪到供应商身上
452	and says the affected vehicles are safe to drive byd is offering replacement	并说受影响的车辆是安全的驾驶字节是提供替换
453	rims and restarting the warranty period coming up on the program a bumpy relation	轮回和重开保修期即将到来程序
454	the u.s ambassador to china calls for diligence when dealing to the invidia affair more on that	驻中国大使呼吁在应对印度事件时注意
455	next this is going back we are establishing a direct channel to ensure that either nation	我们正建立一个直接的渠道确保任何国家
456	can promptly alert the other to serious incidents involving its si models as si advances so will	能够迅速提醒对方注意涉及Si模型的严重事件随着Si的推进
457	the need to engage in new areas of risk management and to demonstrate how our two great nations can	需要参与风险管理的新领域,并展示我们两个伟大国家如何能够
458	reconcile the demands of competition with the responsibilities of leadership that was treasury	调和竞争要求与财政部门的领导责任
459	secretary scott besson hailing an improvement in u.s china engagement at an event in new york	Scott Besson秘书欢呼纽约的一场赛事中中国人参与的改善
460	meanwhile u.s ambassador to china david purdue stayed more cautious he spoke exclusively to	与此同时,驻中国大使达维德·普尔杜德(英语:David Purdue)则保持了更加谨慎的态度,他只和他交谈过
461	bloomberg steven engel i think the situation with invidia is another reminder that we have to stay	布兰博格史蒂芬·恩格尔我觉得Invidia的情况又一次提醒我们必须留下
462	diligent national security is part of this economic conversation because economic security is national	勤奋的国家安全是经济对话的一部分因为经济安全是国家的
463	and so what we're doing with china is bumpy right now we have some areas of disagreement but we have	因此,我们正在做的瓷器是颠簸现在,我们有一些分歧的领域,但我们有
464	现在从Washton Mika Solener 从开花伯格政府的 rika 好加入我们
465	get your perspective thanks for taking us through this story and and a number of others let's start	来听听你的观点谢谢你带我们看这个故事还有其他几个让我们开始吧
466	with this then u.s china relations and it's interesting the language coming from the u.s	与这时的u.s瓷关系和有趣的语言来自u.
467	envoy to china relations are bumpy after the invidia affair at another time you might imagine that	来中国关系的特使在另一个时候的Invidia事件之后变得很颠簸
468	what we've seen from invidia and the scandal around that alleged spy that might have resulted	我们从Invidia那里看到的一切以及那个间谍的丑闻
469	in a lot more outspoken language from capitol hill do you get the sense that the republicans	你是否觉得共和党
470	or the leadership are just trying to play this down because we're approaching this important	或领导只是试图发挥这一点因为我们正在接近这个重要
471	meeting yeah i mean i i would say that the response at least from both the white house	我想说至少两个白宫都有反应
472	and the overall administration has been pretty tame so far in light of these allegations	根据这些指控,迄今为止,整个行政当局相当温和。
473	with jensen huang i know that the president has said has addressed the issue on the heels of	我知道总统说过这个问题在紧接着
474	his meeting next week in china but i do think that this is going to create a lot of tension as	他下周在中国的会面但我确实认为这会造成很多紧张
475	we just heard uh you know the david purdue say um and i i do think that this could potentially	我们刚刚听到呃... 你知道达维德·普杜德说...
476	bleed into that meeting when it comes to those national security issues we have to i have to	在那个会议上流血了当涉及到国家安全问题时... ...我们必须...
477	remind our audience that the president has become extremely close with jensen huang	提醒我们的观众, 总统已经变得非常接近詹森・洪
478	um in the as he kind of continues this ai race with the between the u.s and china and on another	嗯,在那种他继续这个AI比赛与U.s和瓷器之间和另一个
479	subject but obviously in washington house republicans have been trying to impeach	但显然在沃顿房子里共和党人一直试图弹劾
480	pete hexes or at least a number have but others have stood in the way of that effort when things	Peter Hexes或至少几个人有但其他人却阻止了这项努力
481	change in january that might lead to a different outcome what what have we learned from this process	我们从这一进程中学到了什么?
482	yeah definitely i mean i think it still shows that a lot of republicans are really hesitant to break	肯定的,我的意思是,我认为它仍然显示很多共和党人真的犹豫打破
483	with president trump and the administration in any way i spoke with more than a dozen house	我和十几间房子谈过
484	republicans yesterday both about the impeachment vote and just the overall outcome of the midterms	昨天的共和党既关于弹劾投票也只是中期结果
485	how they're feeling about president trump if they blame him at all for the stinging losses	他们怎么看总统胜诉如果他们把刺痛的损失归咎于他
486	that republicans faced both in the house and senate and in those surprise races and a lot	共和党在众议院和参议院以及那些突袭赛和很多
487	of them are really reluctant to place any blame on the president which i think still shows that	他们真的不愿意把任何责任归咎于总统我认为仍然显示
488	this administration has a stronghold especially in this lame duck period heading into december	这个政府有一个据点, 特别是在这个烂鸭子时期, 朝十月。
489	uh where republicans are really going to try and pass the last of the president's agenda it's they	共和党人真正想要通过总统的最后议程是他们
490	see it as their last opportunity to get everything they can before this total democratic takeover	认为这是他们最后的机会得到一切他们能在此之前,彻底民主接管
491	but you're absolutely right that we may see this come again as well as potential other impeachments	但你绝对是对的,我们可能会看到这个又来了以及潜在的其他弹劾
492	a next congress which have a greater chance of passing right yes that'll be an interesting	下届国会更有机会通过右侧是的,这将是一个有趣的
493	pivot to watch now russia and ukraine they're talking in abu dhabi how are those conversations	看着现在的鲁西亚和乌克赖恩他们用阿布哈比语说话谈话怎么样
494	obviously the u.s is there and leading those talks how are those talks being viewed from washington	很明显,你在那里领导这些会谈如何看待这些会谈
495	yeah i think that there's optimism in washington overall at least in capitol hill and and the	是的,我认为在劳顿总体上是乐观的,至少在卡皮托山和
496	house was very eager and has remained eager to try and progress these peace talks um but i do	房子非常渴望并且一直渴望尝试并推进这些和谈
497	think that there's also a lot of skepticism and this is this war has been ongoing for years now	认为也有很多怀疑这场战争已经持续多年了
498	the trump administration and the president have said you know that they would swiftly end this	总统说你知道他们会迅速结束这一切
499	conflict but it's been a lot more complicated and we're seeing this in a lot of the other global	冲突已经复杂得多了我们在很多其他全球
500	conflicts that the president has weighed into extensively and even created including the war	包括战争在内的冲突
501	iran that these are a lot more complicated and this will be the the resumption of talks after	更复杂的是,这将会是会谈的恢复
502	a very long period of that was kind of stalled and heading into kind of this rockier period	一段很长的时期有点停滞并进入了一段比较美好的时期
503	between ukraine and the u.s in particular in light of some comments that were made by u.s officials	特别是根据美国官员的一些评论
504	regarding russian president Vladimir Putin.	关于俄罗斯总统普京
505	Mika thanks very much Mika Solna of Bloomberg	美嘉非常感谢彭博社的美嘉·索尔娜
506	government thank you very much for your time now one stock we're keeping a firm eye on of course	政府非常感谢你的时间现在一个股票,我们正在牢牢监视当然,
507	it's earnings giving a boost to the market with a strong quarter and a rosy forecast let's get the	以强劲的四分之一和优美的预测来刺激市场
508	perspective of matt bloxham from Bloomberg intelligence well there you go pre-market up by	从布隆伯格的情报界看Matt Bloxham的视角... ...你到市场前...
509	nearly 14 percent then matt and this was an epicenter of market concern some weeks ago	近14%,然后Matt, 这是几星期前市场关注的中心
510	now it seems to be acting as a comfort nasdaq futures up really quite healthily partly on the	现在它似乎是一个舒适的纳斯达克未来真的很健康部分在
511	back of the guidance we're getting here yeah i mean definitely that the guidance was helpful	回到我们这里的指引...
512	you know modest upgrade to the full year revenue and profit for me the more interesting uh point	你知道,适度升级到全年收入和利润对我来说更有趣的呃点
513	was the commentary around the sources of funding in the near term we'll see one of the problems	近期内我们将会看到一个问题。
514	with core we recently has been that big spike in in yields because of the question marks about how	我们最近产量猛增因为有问题
515	{\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}他们可以资助这次大规模推广 {\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}至少下一个是现金流负数公司 {\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}他们可以资助这次大规模推广
516	three or four years according to consensus and that the ceo said that they're going to get about	根据共识,3年或4年和Ceo说,他们要去
517	nine billion dollars of prepayment funding from their customers and that they've got a delayed	他们的客户预付了90亿美元并且他们延迟了
518	down investment grade facility in the pipes too so i we don't need to go and tap expensive debt	也降低水管的投资等级设施,所以我们不需要去抢走昂贵的债务
519	to keep funding the business in their term and i for me that's like being a very important signal	继续资助他们的生意对我来说这就像一个非常重要的信号
520	for the company to give because this company isn't typical so we get comfort from the top line demand	公司给予,因为这个公司不是典型的所以我们得到了舒适从顶级的需求
521	forecasts maybe but they're not typical in terms of the debt story are they no they're not it's	预测也许,但从债务故事来看,它们不是典型的,不是
522	quite a complicated um debt structure and you know some of the unsecured debt you know spiked	相当复杂的债务结构你知道一些无担保债务你知道猛增
523	as much as 15 percent yields recently uh because there are these question marks about you know the	最近有15%的产量因为有关于你的问题
524	kind of mismatch between revenue and profit growth but the amount of capital investment they're	收入和利润增长不匹配但资本投资的金额
525	making near terms you know tens of billions dollars of cash outflow and how do you continue	使你几乎知道数百亿美元的现金流出以及你如何继续
526	to fund that and you know what's the trajectory towards cash flow break even what about anthropic	来资助它,你知道什么是轨迹现金流断,甚至人类。
527	then onto anthropic also getting some comfort there are we from this talk certainly in other	然后进入人类生活也得到一些安慰... ...
528	media about just how high the valuation could go here not as high as some of the really elevated	媒体说这里的估值可能比一些真正的高
529	levels we've previously seen but talk us through these latest yeah i mean it's been a bit of a	我们以前见过的水平,但谈谈我们通过这些最新是的,我的意思是,它已经有点
530	journey for them in the last few weeks hasn't that um i you know also that the news today that maybe	他们过去几周的旅程不是... ...嗯...
531	the bankers are looking to push the valuation up towards 1.5 trillion you're still a long way	银行家们想把估值推到1.5万亿你还有很长的路要走
532	{\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}简言之人们谈论的两万亿 {\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}但比他们想的要好得多
533	1.2 to 1.3 that the kind of essentially the baseline if you like it of the of the ipo	1.2到1.3 那种基本上属于基线的,如果你喜欢的话
534	it's really down to the manor team to kind of go and see investors give a very convincing pitch	它真的下到庄园团队那种去看到投资者给出一个非常令人信服的投注
535	about the fundamentals the size of the addressable market their sustainable profitability path you	关于基本大小的可解决市场他们的可持续盈利路径您
536	know the moat they've got around the business that's really what's going to you know test	知道他们有护城河周围的生意, 这真的是什么,你知道测试
537	investors appetite and i guess they're probably keeping their fingers crossed that we get through	投资人的胃口,我想他们可能保持他们的手指交叉
538	a week without too many more or any more unexpected negative bits of news around the border industry	一周没有太多或更多意外的负面新闻
539	yes and perhaps they'll be pleased with some of the positive news we've had out from	是的,也许他们会很高兴我们从一些积极的消息
540	even open ai so some comfort perhaps on the ability to monetize the business is that what	甚至开放AI 所以一些安慰也许对货币化业务的能力是,
541	we should read into the revenue numbers there yeah i think this is so open ai came out where	我们应该读一下那里的收入数字我觉得这里很开放
542	we reportedly told investors that q3 revenue was about 10 billion about 50 up sequentially	据报道,我们告诉投资者 q3的收入大约100亿左右连续50个
543	very similar growth trajectory to what we heard from anthropic now with the anthropics q3 number	和我们从人类学中听到的人类学的q3 数字相似
544	was a lot bigger 17 billion dollars what it showed you was open ai it has pivoted into the	170亿美元显示你开着的Ai,它潜入
545	enterprise ai opportunity that anthropics really focused on that you know it suggests there's	人类学真正关注的机会你知道这说明
546	plenty of demand there they're also kind of improving their kind of profitability trajectory	那里的需求量很大他们也正在改善他们的利润轨迹
547	too so yeah it's a positive data point i think it should in theory at least be a big enough market	是的,这是一个积极的数据点我认为在理论上至少应该是一个足够大的市场
548	plenty big enough market for both of these companies to grow substantially from where they	这些公司的市场足够大,可以从那里大幅度增长
549	are today matt thank you very much matt block some from bloomberg intelligence with all those tech	今天是Matt 非常感谢你 Matt 和所有那些技术一起阻止一些来自盛大的智力
550	themes coming up your day ahead that's next this is bloomberg welcome back to the brief now we'll	接下来是盛盛的盛会欢迎回到简报中
551	look at what is ahead for today a host of fed speak including hammock bar daily and schmidt	看看今天要做什么包括吊床酒吧和鸡尾酒
552	throughout the day we get that commentary coming from those fed speakers opec will be out with	一天之内,我们得到的评论从那些提供消息的演讲者 opec将会与
553	its monthly oil report that's later this morning and the cash treasury market is closed of course	今早的月度石油报告当然国库现金市场已经关闭了
554	in observance of veterans day certainly wasn't closed yesterday more on that in just a moment	在纪念老兵的日子里,昨天当然没有关闭了,就在一瞬间
555	let's have a look at some of these macro movers for you and in fact thinking about yesterday	让我们来看看一些这些宏观的推动者给你,事实上思考一下昨天
556	and the big moves that we saw higher in yield certainly at the two-year horizon also at the	以及我们所看到产量较高的大步肯定在两年内
557	year went over five percent on five on 10-year yields at one point well we see a continuation	一年每10年的产量超过5%, 一次不错,我们看到继续
558	of that trajectory and wednesday's futures picture waiting for cash trade tomorrow the broader	那轨迹和周二的期货图等着明天进行现金交易
559	futures picture for equities looks pretty positive we're up by 1.9 on nasdaq futures thinking about	股票的期货图看起来很正面我们比纳斯达克期货的1.9
560	where we go on the core we've story and profit all of that offering a little bit of comfort	在那里,我们去核心我们的故事和利润所有提供一点点的舒适
561	{\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}看一看我们商品的价位 {\fn黑体\fs22\bord1\shad0\3aHBE\4aH00\fscx67\fscy66\2cHFFFFFF\3cH808080}现在
562	little bit higher gold prices move a little bit higher and brent and wti of course focused on	一点点高的黄金价格移动一点点高, Brent和wti当然专注于
563	in the middle east the iranians taking a tough line on enrichment of uranium the gold price is	在中东部,伊朗人对铀浓缩采取强硬路线黄金价格是
564	perhaps more focused on cpi and the trajectory for fed interest rates that is it for bloomberg	也许更注重cpi 和喂养利率的轨迹也就是开花伯格的利率
565	brief surveillance is ahead this is bloomberg	短暂的监视即将到来这片开阔的山庄

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