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
2014-10-27
47
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.
【F1】
选项
答案
第二,最近经济方面的好消息似乎并没有让债券投资者很不安。
解析
转载请注明原文地址:https://kaotiyun.com/show/bNK4777K
0
考研英语一
相关试题推荐
Foralongtime,researchershavetriedtonaildownjustwhatshapesus—orwhat,atleast,shapesusmost.Andovertheyears,
Americanhighereducationstandsonthebrink(边缘)ofchaos.1havesomanyspentsolonglearningsolittle.Thepresentcri
Inademocraticsocietycitizensareencouragedtoformtheirownopinionsoncandidatesforpublicoffice,taxes,constitutiona
ShouldtheTreasurysellitseconomicforecastingcomputersforscrap?ForthepasttwoyearsnooneoutsidetheConservativePa
EuropeansandAmericansalikehavecertainromanticnotionsaboutSweden.Weimagineitasalandofliberal-mindedpeoplelivin
Cultureshockmightbecalledan【C1】______diseaseofpeoplewhohavebeensuddenly【C2】______abroad.Likemostailments,ithasi
Cultureshockmightbecalledan【C1】______diseaseofpeoplewhohavebeensuddenly【C2】______abroad.Likemostailments,ithasi
StandardEnglishisthevarietyofEnglishwhichisusuallyusedinprintandwhichisnormallytaughtinschoolsandtonon-nat
StandardEnglishisthevarietyofEnglishwhichisusuallyusedinprintandwhichisnormallytaughtinschoolsandtonon-nat
TherearenocomprehensivestatisticstocharttheastoundingsurgeofEuropeansdemandingcosmeticsurgeryalongwithawidera
随机试题
A.2~lO℃B.20℃以上C.35℃以上D.40℃以上E.60℃
胆道疾病首选的辅助检查方法是:
建筑内部装修不应减少安全出口、疏散出口和疏散走道的设计所需的()。
北京某木制品公司(小规模纳税人)在2009年10月生产高档筷子1000箱,每箱售价800元;生产一次性竹筷500箱,每箱售价390元;生产一次性木筷1500箱,单箱售价290元;另生产未经打磨的一次性木筷子500箱,单箱售价250元。本月的产品全部销售
根据车船税法律制度的规定,下列各项中,属于机动船舶计税单位的是()。(2014年)
backandforth
设有关系模式:student(sno,sname,age,dept),现利用命令:CREATEVIEWstuASSELECT*FROMstudentWHEREdept=csWITHCHECKOPTION创建一个视图。则以下SQL
在下列关于宏定义命令#define的叙述中,正确的一条是()
下列叙述中正确的是()。
Inwhat’sprobablythecraziestheadlineI’veeverwritten,I’vereportedthat【C1】______inlivestockprotectionarehappening
最新回复
(
0
)