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Cover for 史诗级爆仓：为何XIV如何在一夜间蒸发90%，独家深度剖析ETN风险之谜
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Nov 06, 2025

史诗级爆仓：为何XIV如何在一夜间蒸发90%，独家深度剖析ETN风险之谜

一、引言 在金融市场中，结构化产品不断演化，但少有像XIV那样在极短时间内，从备受追捧到几近消失，其“爆仓”过程堪称教科书级警示。理解这一事件，不仅是对单一产品的复盘，更是对整个 ETP 市场、尤其是复杂波动率衍生品体系的深刻反思。

#blackswan-risks#黑天鹅风险#etn
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Cover for 杠杆 ETF 机制与现货／期货关系深度剖析
MACROPRO

Nov 02, 2025

杠杆 ETF 机制与现货／期货关系深度剖析

一、全球资产配置背景 在当前全球利率中枢、通胀预期、资金流动性宽松—收紧切换的大环境下，资产类别间分化明显。作为宏观交易员／量化策略设计者，你需要不仅判断标的“会不会涨”，还要判断“如果用 ETF 工具去放大／缩小敞口，结构机制是什么、潜在拖累是什么”。

#etf#leverage-etf#trading
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