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
49
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.
【F3】
选项
答案
表面上看,公司利润的上升、信贷息差的降低和迄今为止垃圾债券市场中最大的止跌回升,都在暗示全面的、持久的经济复苏。
解析
转载请注明原文地址:https://kaotiyun.com/show/b7sZ777K
0
考研英语一
相关试题推荐
Oneofthedifferencesbetweenanimalsandmachinesisthatanimalbodiescanrepairmuchofthedamagethatacruelandhostile
In2001,asecretmeetingofleadingIsraeliarchaeologistsareshownaremarkableartifact.It’sastonetablet,apparentlyfro
JohnStuartMillarguedinthe19thcenturythatanindividualshouldbefreetodoashepleased,solongashedidnotharman
Forthepastfiveyears,Dr.StephenPosthasbeenfundingresearchprojectsthattesthowaltruism(selflessness),compassion,
Awomanwithatwinbrotherhasfewerchildren.Twinbrotherscanleavequiteanimpression.Themerepresenceofaboyinthes
Theoperationknownasahemispherectomy—theremovalofhalfthebrain-soundstooradicaltoeverconsider,muchlessperform.I
FromthefoundingofHarvardCollegein1636untiltheCivilWar,Americanuniversityeducationwasmostlyaboutsendingpiousa
Apartfromanewfootballstadiumandsomesmartuniversitybuildings,mostofMiddlesbroughlooksasthoughitcametoadeadh
TelevisionpitchmenforproductslikePajamaJeansandlightedslippersoncetriedtogetviewerstoplacetheirordersbyphone
TelevisionpitchmenforproductslikePajamaJeansandlightedslippersoncetriedtogetviewerstoplacetheirordersbyphone
随机试题
Thispartistotestyourabilitytodopracticalwriting.Youarerequiredtowriteanarticlein30minutesaccordingtothef
十二经脉中,与喉咙有联系的经脉是
对于被判处拘役、3年以下有期徒刑的犯罪分子,符合《刑法》第72条规定的缓刑条件,因而应当宣告缓刑的对象是:()
混凝土中氯离子含量检测时,钻孔灌取粉后应将样品放置()环境温度下2h。
根据现代安全生产管理理论,下列运用强制原理的是______。
防火分隔构件具有阻止火势蔓延的作用,能把整个建筑空间划分成若干较小防火空间。固定式防火分隔构件不包括()。
B.应为Z4812A14091G.应为3105943347N.应为0,没有集装箱此处填0R.编号应为商品编码T.应为全免
关于抵押物的保全,下列说法正确的有()。
下列我们日常生产生活所需的产品中,不属于发酵工程产品的是()。
自从人类发明了工具,劳动强度便逐年降低,骨强度便也跟着下降。而人类大约在9000年前发明了农业。并在其后的几千年时间里逐渐将农业普及到全世界。农业的出现改变了人类获取食物的方式,从此打猎便不再是生存所必需的行为了,取而代之的是强度较低的农业生产。再加上剩余
最新回复
(
0
)