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
40
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.
【F2】
选项
答案
从特殊渠道传出的消息里,每隔一条就呈现这种强劲的增长势头。
解析
转载请注明原文地址:https://kaotiyun.com/show/I7sZ777K
0
考研英语一
相关试题推荐
InBritainonethirdofallmarriagesendindivorceandoneinfourfamilieswithchildrenisheadedbyaloneparent.Arecent
Itispredictedthattherewillbefourscientificbreakthroughsinthe21stcentury.We’llknowwherewecamefrom.Whydoe
Maybeyou’rereadytomakesomeNewYear’sresolutions,butyou’renotoptimisticthatthisyearisgoingtobeanydifferent.M
[A]Somepeoplewillfindtheresultsthreatening—becausesomepeoplefindanygroupdifferencesthreatening—butsuchfearswill
[A]TheDavoscrowdisstunnedbythisturnofevents.Therecenthigh—profilelayoffannouncementsintheglobalcarindustryon
Itwassupposedtobethenew-mediaelection.E-mail,blogging,socialnetworkingandtweetingwereexpectedtosurgeinimporta
Manywilldoubttobaccoindustryclaimsthatitissharpeningitssciencetoevaluate"healthiercigarettes".Butthat’swhatwi
Inthefirstyearsofthe21stcentury,noareaoftheAmericaneconomyhasexcitedmoreemotionthanthepropertymarket.First
Researchersinthefieldofartificialintelligencehavelongbeenintriguedbygames,andnotjustasawayofavoidingwork.G
TheEnergyDepartmenthasrecommendedexpandingtheamountofnuclearwastethatcouldhestoredinanundergroundrepositoryat
随机试题
一个投资者投资三种股票,投资比例为3∶4∶3,贝塔值分别为0、8、2、2、5,投资组合的贝塔值为()。
简述领导者树立法治观念的必要性。
关于排便性质异常,错误的描述是()。
【2009年第4题】题1~5:某厂为进行节能技术改造,拟将原由可控硅供电的直流电动机改用交流调速同步电动机,电动机水冷方式不变,原直流电动机的功率Pn=2500kW,转速为585r/min,要求调速比大于15:1,请回答下列问题。该厂直流电动机的设备年
降低混凝土入仓温度的措施不包括()。
张某与某施工单位签订了一份三年期劳动合同,合同中约定的生效时间为2005年3月10日。为了考查张某是否具备相应的工作能力,合同约定了试用期,则试用期最长截止于( )。
商业银行流动性风险管理的核心是()。
指定居所监视居住的,除无法通知的外,应当制作监视居住通知书,在执行监视居住()小时以内,由决定机关通知被监视居住人的家属。
英国《银行家》杂志公布了2013年全球1000家银行排名,其中96家中国银行榜上有名。有4家中国银行进入前十行列,他们分别是中国工商银行、中国建设银行、中国银行和中国农业银行。在银行盈利能力排名中,()首次以一级资本指标排名全球银行首位。
Lookatthestatementsbelowandtheadviceonhandlingacquisitionsontheoppositepage.Whichsection(A,B,CorD)doeseach
最新回复
(
0
)