瑞銀集團的艾米·洛（Amy Lo）揭示了高淨值個人的投資行為的轉變

瑞銀集團（UBS Group）的亞洲財富管理聯合負責人艾米·羅（Amy Lo）揭示了高淨值個人的投資行為發生了明顯變化。

High-net-worth individuals in Asia are shifting their investments from US dollar-based assets to gold, cryptocurrencies, and Chinese investments, according to UBS Group's Co-Head of Wealth Management for Asia, Amy Lo.

根據瑞銀集團（UBS Group）亞洲財富管理共同管理，亞洲的高淨值個人正在將其投資從基於美元的資產轉移到黃金，加密貨幣和中國投資。

Speaking at an event in Hong Kong, Lo attributed this trend to rising geopolitical tensions, particularly between China and the United States, which have prompted wealthy investors to diversify beyond traditional US-centric portfolios.

Lo在香港的一次活動中發表講話，將這種趨勢歸因於地緣政治緊張局勢的上升，特別是在中國和美國之間，這促使富裕的投資者超越了傳統的以美國為中心的投資組合。

"Clients are looking at commodities, digital assets, and alternative investments. Volatility will definitely continue," Lo stated.

洛說：“客戶正在研究商品，數字資產和替代投資。波動肯定會繼續。”

This shift is evident in the changing investment preferences of UBS's clients. In the past year, there has been a strong demand for gold and US dollar-denominated bonds as investors sought safe-haven assets.

在不斷變化的瑞銀客戶投資偏好中，這種轉變顯而易見。在過去的一年中，隨著投資者尋求安全資產的資產，人們對黃金和美元計價的債券的需求很大。

However, with the US dollar depreciating and the Chinese economy recovering, clients are now showing interest in diversifying into the yuan and A-shares.

但是，隨著美元貶值和中國經濟恢復，客戶現在表現出對使人民幣和A股份多樣化的興趣。

"We are seeing a pivot towards Asia-focused investments, particularly in A-shares and yuan-denominated bonds, as clients recognize the potential for a strong rebound in the Chinese economy," Lo added.

Lo補充說：“我們看到以亞洲為中心的投資的樞紐，尤其是在A股和元負有責任的債券中，因為客戶認識到中國經濟中有很大反彈的潛力。”

Meanwhile, in South Korea, the so-called "Korea Premium," which refers to the price gap between Korean and global crypto exchanges, continues to decline.

同時，在韓國，所謂的“韓國溢價”是指韓國和全球加密貨幣交易所之間的價格差距，它繼續下降。

Once a symbol of intense retail demand, particularly during the 2021 bull run when the premium soared above 20%, it now reflects a more muted sentiment among local investors.

曾經是強烈的零售需求的象徵，尤其是在2021年的公牛運行期間，當保費飆升到20％以上時，現在反映出當地投資者中的情緒更加柔和。

The current decline suggests that the latest Bitcoin rally is being driven by global institutional capital, rather than Asian retail traders.

目前的下降表明，最新的比特幣集會是由全球機構資本而不是亞洲零售商人驅動的。

Analysts believe this trend will persist, especially with the approval of US spot Bitcoin ETFs and increasing interest from sovereign wealth funds and corporations.

分析人士認為，這種趨勢將繼續存在，尤其是在美國現貨比特幣ETF的批准以及主權財富基金和公司的興趣增加的情況下。

If the Korea Premium does return, even a 10% difference would now be considered high compared to past cycles, highlighting the shift in global market leadership.

如果韓國的保費確實回來，那麼與過去的周期相比，即使是10％的差異也將被認為很高，這突顯了全球市場領導力的轉變。

Bitcoin (BTC) Price Holds Steady

比特幣（BTC）價格穩定

Crypto market analyst ColinTCrypto pointed out that Bitcoin's current price trajectory closely follows the growth in the global M2 money supply.

加密市場分析師ColintCrypto指出，比特幣的當前價格軌跡緊隨全球M2貨幣供應的增長近在咫尺。

He noted that Bitcoin recently surged from $76,000 to over $105,000, predicting a potential breakout to $120,000 by May-end if the correlation holds.

他指出，比特幣最近從76,000美元飆升至105,000美元以上，預計如果相關性成立，到5月的可能性可能會突破到120,000美元。

Bitcoin is still right on track with Global M2.

比特幣仍與Global M2保持正軌。

$120,000+ by the end of May?

到5月底到$ 120,000+？

Will BTC get a huge move up around the May 24th like Global M2 shows? If so, it’s likely BTC breaks into new ATHs. The FOMO at that time will be palpable due to all the articles and news. pic.twitter.com/gYuNQGx0Uj

像全球M2節目一樣，BTC會在5月24日左右巨大的轉移嗎？如果是這樣，BTC可能會闖入新的ATHS。當時的FOMO將由於所有文章和新聞而顯而易見。 pic.twitter.com/gyunqgx0uj

— Colin Talks Crypto 🪙 (@ColinTCrypto) May 13, 2025

- Colin Talks Crypto🪙（@ColintCrypto）2025年5月13日

At the time of writing, Bitcoin is trading around $103,500, gaining over 0.70% in the past day.

在撰寫本文時，比特幣的交易額約為103,500美元，在過去的一天中增長了0.70％。

In the past week, its market capitalization has grown by $15 billion, bringing it to around $2.05 trillion.

在過去的一周中，其市值增長了150億美元，使其達到2.05萬億美元。

Additionally, the Crypto Fear & Greed Index suggests that investors are now turning greedy to invest in digital assets.output: Key interest rates in the United States will remain elevated for an extended period, according to a recent statement by Federal Reserve Governor Michelle Bowman.

此外，根據美聯儲州長米歇爾·鮑曼（Michelle Bowman）最近的一份聲明，加密貨幣和貪婪指數表明，投資者現在正在轉向貪婪投資數字資產：美國的關鍵利率將在很長一段時間內保持較長期限。

During a Monday speech at the Montana Bankers Association Convention, Bowman emphasized the importance of bringing inflation down to the two percent goal.

在蒙大拿州銀行協會大會上的周一演講中，鮑曼強調將通貨膨脹降低到2％的目標的重要性。

"We will need to keep interest rates higher for longer to decrease demand in the economy and bring inflation down to two percent," Bowman said.

鮑曼說：“我們將需要保持更高的利率，以減少經濟需求，並使通貨膨脹率降至百分之二。”

According to the Consumer Price Index (CPI), inflation in May reached four percent compared to the same period last year. However, compared to April 2025, there was a slight decrease of 0.1 percent.

根據消費者價格指數（CPI），與去年同期相比，5月的通貨膨脹率達到了4％。但是，與2025年4月相比，略有下降了0.1％。

While inflation has moderated from its peak in early 2022, it remains significantly above the Fed's two percent target.

儘管通貨膨脹率從2022年初的高峰開始，但它仍然顯著高於美聯儲的兩百分之二。

The Fed officials have indicated that they might pause increasing interest rates at the upcoming June meeting. Currently, the federal funds rate stands in a range of 4.75 percent to five percent.

美聯儲官員表示，他們可能會在即將到來的6月會議上停止增加利率。目前，聯邦資金利率在4.75％至5％的範圍內。

In March 2022, the Fed initiated the most rapid series of rate hikes since the 1980s to combat surging inflation. The central bank has raised the benchmark lending rate by 5 percentage points, bringing it to its highest level since 2000.

2022年3月，自1980年代以來，美聯儲開始了最快的速率加息，以打擊飆升的通貨膨脹。中央銀行已將基準貸款率提高了5個百分點，使其自2000年以來的最高水平。

The officials are closely examining economic data to determine the optimal time to halt the rate increases. However, they have also warned that if inflation does not subside as anticipated, further rate hikes may be necessary.

官員們正在仔細檢查經濟數據，以確定停止利率提高的最佳時間。但是，他們還警告說，如果通貨膨脹不會如預期的那樣消退，則可能需要進一步加息。

"We are assessing each meeting based on the incoming data and the implications for the economic outlook," Bowman noted.

鮑曼指出：“我們正在根據傳入數據及其對經濟前景的影響進行評估。”

She added that if inflation does not decrease as quickly as expected, or if the labor market begins to deteriorate, further rate increases may be required to reach the Fed's

她補充說，如果通貨膨脹率不如預期的速度降低，或者如果勞動力市場開始惡化，則可能需要進一步提高才能達到美聯儲