一、3月转换从期待,到现实。 本周(20250224-20250228)市场结构上不仅出现了涨跌幅和估值的“高低切换”,也出现了从AI引领的科技板块向传统内需领域切换的特征。背后的原因我们在此前一个月的周报中都有详细论述,主要是三点:第一,A股各板块之间的交易热度和波动率上出现了极致的分化,有待收敛;第二,科技股的行情有赖于新催化的不断出现,即使新催化出现,参考去年四季度的经验,市场对催化本身的...
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