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
考研
As a young bond trader, Buttonwood was given two pieces of advice, trading rules of thumb, if you will: that bad economic news i
As a young bond trader, Buttonwood was given two pieces of advice, trading rules of thumb, if you will: that bad economic news i
admin
2016-03-22
82
问题
As a young bond trader, Buttonwood was given two pieces of advice, trading rules of thumb, if you will: that bad economic news is good news for bond markets and that every utterance dropping from the lips of Paul Volcker, the then chairman of the Federal Reserve, and the man who restored the central bank’s credibility by stomping on runaway inflation, should be respected than Pope’s orders. Today’s traders are, of course, a more sophisticated bunch. But the advice still seems good, apart from two slight drawbacks. The first is that the well-chosen utterances from the present chairman of the Federal Reserve, Alan Greenspan, is of more than passing difficulty.【F1】
The second is that, of late, good news for the economy has not seemed to upset bond investors all that much.
For all the cheer that has crackled down the wires, the yield on ten-year bonds—which you would expect to rise on good economic news—is now, at 4.2%, only two-fifths of a percentage point higher than it was at the start of the year. Pretty much unmoved, in other words.
Yet the news from the economic front has been better by far than anyone could have expected. On Tuesday November 25th, revised numbers showed that America’s economy grew by an annual 8.2% in the third quarter, a full percentage point more than originally thought, driven by the ever-spendthrift American consumer and, for once, corporate investment.【F2】
Just about every other piece of information coming out from special sources shows the same strength.
New houses are still being built at a fair clip. Exports are rising, for all the protectionist crying. Even employment, in what had been mocked as a jobless recovery, increased by 125, 000 or thereabouts in September and October.【F3】
Rising corporate profits, low credit spreads and the biggest-ever rally in the junk-bond market do not, on the face of it, suggest anything other than a deep and long-lasting recovery.
Yet Treasury-bond yields have fallen.
If the rosy economic backdrop makes this odd, making it doubly odd is an apparent absence of foreign demand Foreign buyers of Treasuries, especially Asian certral banks, who had been swallowing American government debt like there was no tomorrow, seem to have had second thoughts lately.【F4】
In September, according to the latest available figures, foreigners bought only $5-6 billion of Treasuries, compared with $ 25.1 billion the previous month and an average of $38.7 billion in the preceding; four months.
【F5】
In an effort to keep a lid on the yen’ s rise, the Japanese central bank is still busy buying dollars and parking the money in government debt.
Just about everyboby else seems to have been selling.
【F4】
选项
答案
根据最新数据显示,九月份外国买家仅仅购买了56亿美国国债,与八月份的251亿美元和前四个月平均达到的387亿美元相比,实在相形见绌。
解析
转载请注明原文地址:https://kaotiyun.com/show/E7sZ777K
0
考研英语一
相关试题推荐
TheWarrantyHoldingsGroup,aEuropeanleaderinmechanicalbreakdowninsuranceandaresearcherandcommentatorontrendsinm
In2001,asecretmeetingofleadingIsraeliarchaeologistsareshownaremarkableartifact.It’sastonetablet,apparentlyfro
[A]Somepeoplewillfindtheresultsthreatening—becausesomepeoplefindanygroupdifferencesthreatening—butsuchfearswill
ChrisNiedenthal,aWarsaw-basedphotographer,hastakentoslatheringhischeesewithbutter.Whenhe’sthirsty,sometimesheg
JohnStuartMillarguedinthe19thcenturythatanindividualshouldbefreetodoashepleased,solongashedidnotharman
Apartfromanewfootballstadiumandsomesmartuniversitybuildings,mostofMiddlesbroughlooksasthoughitcametoadeadh
ThequestforwisdomisasoldasSocrates,butit’salsoanup-to-the-minuteeconomicindicator.Acontrarianone:whenthings
Human-inducedclimatechangeislikelytomakemanypartsoftheworlduninhabitable,oratleastuneconomic.Overthecourseof
Howsoonyourperformancewillberatedmayinfluencehowwellyoudo,accordingtoanewstudypublishedinthejournalPsychol
随机试题
领导者树立正确的政治观念的基本要求有哪些?
1920年11月,中国共产党早期组织领导建立的第一个产业工会是()
微分方程xy′—y=xlnx满足y|x=e=e的特解为()
男性,40岁,多年溃疡病史,饱食并少量饮酒后突然腹痛,从上腹迅速扩大全腹,刀割样痛,诊为溃疡病穿孔,急性腹膜炎。为进一步确诊,最简单的检查是
有一大面积烧伤病人,烧伤已5天,突然发生寒战,继而高热。不久,体温不升,白细胞升高不明显,四肢冰冷,尿少,脉快。根据以上临床表现,诊断为
下列对劳动消耗定额、机械消耗定额的理解,正确的是()
关于茶文化,说法不正确的是()。
对被拘留、逮捕的犯罪嫌疑人、被告人进行关押看守的工作属于()。
社会工作者主要担当着哪些角色?(华中农大2013、2010年研)
行为金融学
最新回复
(
0
)