首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
So far, inflation is roaring in only a few sectors of the economy. While platinum has soared 121 percent, soybeans have risen 11
So far, inflation is roaring in only a few sectors of the economy. While platinum has soared 121 percent, soybeans have risen 11
admin
2010-05-14
90
问题
So far, inflation is roaring in only a few sectors of the economy. While platinum has soared 121 percent, soybeans have risen 115 percent, and an index of Real Estate Investment Trusts has climbed 42 percent since May 2001, the consumer price index (CPI) has gone up only 4.2 percent during the same period. The challenge is figuring out what happens next.
Astute investors are asking two questions: 1) Will the dollar continue to decline? 2) Which assets will continue to inflate?
The value of the dollar matters because much of what Americans buy comes from abroad. And in the past two years, the dollar has been slipping badly: down some 25 percent against a basket of foreign currencies, including the euro and the yen. That makes imported goods more expensive. If the dollar falls further, the rise in prices could boost inflation.
And that’s exactly what some analysts predict. "This is not a run-of-the-mill problem where the currency corrects 25 percent" then stabilizes, says David Tice, Dallas-based manager of the Prudent Global Income Fund. "We have an economy that’s very dependent upon ever-increasing amounts of debt. Look at borrowing in this country for automobiles and housing. At the federal level, we are creating credit as if it is going out of style. Given that, we think the dollar can decline substantially more from here."
That’s why Mr. Tice’s income fund has invested in government bonds in countries that are major trading partners of the US. These bonds tend to increase in value as the dollar weakens.
There are other ways for investors to protect themselves from inflation. For example: TIPS (Treasury Inflation-Protected Securities) are US government bonds that increase both principal and interest payments in line with the CPI/U, which measures prices for urban dwellers. Thus, if the price of consumer goods goes up, TIPS owners get a boost in their rate of return. That’s a level of inflation protection that most bonds and money-market funds don’t provide.
Still, there are no guarantees. If real interest rates rise faster than inflation, TIPS can lose value if they’ re not held to maturity. "TIPS have generally been less volatile than traditional bonds," but investors have already seen periods when their inflation-protection doesn’t match the actual rise in prices, warns Duane Cabrera, head of the personal financial planning group at Vanguard, based in Valley Forge, Pa. For example, the year-over-year change in the CPI/U is running about 1.9 percent, he points out, but college costs have been rising about 5 percent annually.
Investors should also discuss the tax consequences with their investment advisers, Mr. Cabrera notes.
On the stock front, investors can also turn to natural-resource stocks or mutual funds that invest in them. A slightly more exotic option: exchange-traded funds, which act like mutual funds but trade like stocks.
Commodities offer another avenue for profit during inflationary times. Individual investors probably want to avoid commodity trading, often a wild and woolly experience. But certain mutual funds offer share- holders a chance to profit when commodity prices go up. The PIMCO Commodity Real Return Fund, for example, provides exposure to the performance of the Dow-Jones AIG Commodity Index while generating income from TIPS. Another option: the Oppenheimer Real Asset Fund, which is actively managed and tracks the Goldman Sachs Commodity Index.
There’s no clear winner between these stock funds and the commodities their companies have invested in. When commodity prices are hiring, natural-resource firms can protect themselves by hedging their risks, says Kevin Baum, portfolio manager of the Oppenheimer Real Asset Fund. On the other hand, hedging may keep them from benefiting when commodity prices rise. And the stocks can be more volatile than the commodities themselves. Gold funds typically are three times more volatile than the price of gold itself.
Sometimes, the commodities and funds tied to those commodities move in opposite directions, Mr. Baum says.
PIMCO’ s Mr. Harris is quick to note that many commodity prices have been soaring. So the key question is: Which ones will continue to rise in price? Individual investors should maintain strict discipline when they pick commodities funds, he says.
If the dollar continues to decline, which of the following would be a possible result?
选项
A、Prices would fall.
B、Importing would become expensive.
C、Pressure of inflation would be lessened.
D、Consumers would be more willing to borrow money from banks.
答案
B
解析
这个问题其实是常识问题,文章也有涉及。美元下跌,会引起价格上涨,通货膨胀压力增大,进口产品需要花费更大,同时由于消费者信心不足,银行借贷也必然受到影响。
转载请注明原文地址:https://kaotiyun.com/show/8olO777K
0
专业英语八级
相关试题推荐
InAshortstorybyIanMcEwan,ReflectionsofaKeptApe,awomantakesapetchimpanzeeasherlover.Althoughtruthisoften
RecreationalcyclingappearstohavepeakedintheUS,itspopularitycrestingsometimeduringLanceArmstrong’srecordrunsat
Backin【B1】______,civilwarbrokeoutinBurundi.Manywerekilledina【B2】______ofinter-ethnicviolence.Thismonth,Bur
Nobodyhasagoodwordforapathy.ArnoldToynbee,ahistorian,thoughtitdefinedthepenultimatestageofdecadence.Civilisat
Nobodyhasagoodwordforapathy.ArnoldToynbee,ahistorian,thoughtitdefinedthepenultimatestageofdecadence.Civilisat
Parenthoodshouldbeaffordableinthiscountry,butthecostofraisingachildfrombirthtoadulthoodisnowaquarterofam
WhathappenedtothefourremaininglawyersafterPatrick’sdisappearance?Whichofthefollowingimpliesacontrast?
1 Owingtothewidespreadexpansionofcasinos,thecostofpathologicalandproblemgamblinghassoaredtonearlyhalftheann
Professionalwomenwhoputcareersonholdforfamilyorotherreasonsearn18percentlessoncetheyreturntotheworkforce,a
你知道中国最有名的人是谁?提起此人,人人皆晓,处处闻名。他姓差,名不多,是各省各县各村人氏。你一定见过他,一定听过别人谈起他。差不多先生的名字天天挂在大冢的口头,因为他是中国全国人的代表。差不多先生的相貌和你和我都差不多。他有一双眼睛,
随机试题
妊娠合并的心脏病中,发生率占首位的是()
城市居民委员会是()。
患者,男,28岁。上腹痛,发热,恶心4小时后出现右下腹痛,查体:右下腹固定性压痛,无腹肌紧张及反跳痛。应考虑的阑尾炎病理类型是
物业管理企业资质等级分为()资质等级。
建设项目法人是指由投资建设项目的()依法组建的、具有法人条件的组织。
教育者
“去粗取精,去伪存真”是数学思维()的体现.
如图,AB是⊙O的弦,AB长为8,P是⊙O上一个动点(不与A、B重合),过点O作OC⊥AP于点C,OD⊥PB于点D,则CD的长为__________.
根据所给材料,回答下列问题。浮船坞是一种修造舰船的大型装备,外观就像是把一个干船坞从岸边“刨”了出来。主结构是一个巨大的凹字形船舱,两侧有水密结构的墙,前后端是可以开合的门,实际上是一种构造特殊的槽形平底船,且船底被设计得尤为坚固,以承受大型船只
课程目标
最新回复
(
0
)