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
44
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
Whilecrimeisuparoundthenationandspreadoutacrosscitiesinabroadpattern,themajorityofpeopleconvictedofcrimes
Whilecrimeisuparoundthenationandspreadoutacrosscitiesinabroadpattern,themajorityofpeopleconvictedofcrimes
McGrawreceivesdailytextmessagesfromSeventeenmagazineaboutfashion,includingtipsaboutwhattoweartotheprom.Shepl
Oneofthedifferencesbetweenanimalsandmachinesisthatanimalbodiescanrepairmuchofthedamagethatacruelandhostile
Youshouldthinkseriouslyaboutworkingforayearortwobeforeyougotograduateschool.Onestudentsaidthathavingworked
"Secret"Entertaining“隐秘”的招待Studythedrawingcarefullyandwriteanessayinwhichyoushould1)describethedrawingbriefly,
Therealizationthatcoldscankillhasrenewedinterestinfindingvaccinesandtreatments.Thetroubleisthatthecommoncold
ThequestforwisdomisasoldasSocrates,butit’salsoanup-to-the-minuteeconomicindicator.Acontrarianone:whenthings
随机试题
A、Howlongtheworkwilltake.B、Howmuchtheworkwillcost.C、Howthepaintjobistobedone.D、Howmanyworkersareneeded.
1924年1月,国民党一大的召开,标志着第一次国共合作的正式形成。1925年5月,以五卅运动为起点,掀起了全国范围的大革命高潮。大革命的意义是()
列出岗位任职者所应从事的各项工作活动,以及各项工作活动的重要性程度和执行时所需花费的时间,然后据此排出培训活动的优先次序的方法是()
脑出血发病后,神经功能康复最适宜的时间为()
当吸烟者吸烟时,给予讲解吸烟致癌等事例,从而帮助矫正吸烟行为,这种个体行为矫正方法为
体层机X线管运行的最大幅度(角度)称为
帕金森病小脑变性
贷款承诺是商业银行在贷款意向阶段向客户提供的书面承诺。()
国有资产占有单位应当进行资产评估的情况有()。
基于以下数据,请完成题目。解释b0和b1。
最新回复
(
0
)