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
2017-07-09
76
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. 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. 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. 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 central banks, who had been swallowing American government debt like there was no tomorrow, seem to have had second thoughts lately. 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. 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 everybody else seems to have been selling.
[A] fairly well-chosen
[B] rising rather slowly
[C] setting a limit on yen’s rise
[D] buying American government debt bravely
[E] spending more and more cautiously
[F] carelessly selected
[G] domestic consumers
Japanese dollar-buying is for the purpose of
选项
答案
C
解析
本题的特征词是主语Japanese dollar-buying,根据这个词可以把本题的相关信息定位在第三段倒数第二句话: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.本句的意思是:为了努力限制日元的升值,日本中央银行仍在忙于购进美元并且把这些钱转为政府债务。可以从中了解到:日本中央银行购买美元的目的是为了限制日元的升值。所以本题的正确答案是C项“对日元升值加以限制”。
转载请注明原文地址:https://kaotiyun.com/show/nAbZ777K
0
考研英语一
相关试题推荐
Asayoungbondtrader,Buttonwoodwasgiventwopiecesofadvice,tradingrulesofthumb,ifyouwill:thatbadeconomicnewsi
【F1】WiththeextensionofdemocraticrightsinthefirsthalfofthenineteenthcenturyandtheensuingdeclineoftheFederalis
【F1】WiththeextensionofdemocraticrightsinthefirsthalfofthenineteenthcenturyandtheensuingdeclineoftheFederalis
Supposeyouwonatranslationcontestandyourfriend,Jack,wroteanemailtocongratulateyouandaskforadviceontranslatio
ItishardtopinpointthedateatwhichAmericansdevelopedanIndian—orperhapsBritishfatalismaboutthedecliningqualityo
ItishardtopinpointthedateatwhichAmericansdevelopedanIndian—orperhapsBritishfatalismaboutthedecliningqualityo
ItishardtopinpointthedateatwhichAmericansdevelopedanIndian—orperhapsBritishfatalismaboutthedecliningqualityo
Notallofthepotentialsolutionstoclimatechangearefuturistic,expensiveorexotic.Infact,mostAmericanscanfindoneo
Amidsttroublingreportsofournation’seconomicwoesandpressingnationalsecurityissues,onenewsstoryearlierthismonth
随机试题
机械膜片式汽油泵的实际出油压力由()决定。
患者,男,48岁。因患肝硬化5年,近1年来明显腹胀,尿少,食欲下降,下肢水肿来院。查体:一般情况差,腹膨隆,可见腹壁静脉曲张,移动性浊音阳性。该患者腹壁静脉曲张的血流方向应为
建立计算机网络的目的在于()。
甲、乙、丙、丁4人欲投资设立某会计师事务所(特殊普通合伙),对于该事务所设立的一些事项,4人共同咨询了张律师,张律师的下列说法中,不准确的是()。
2013年10月中国公民张某与原任职单位解除劳动合同,取得一次性补偿收入90000元,张某在该单位任职8年。张某的月工资8400元。当地上年度年平均工资为20000元,2013年10月张某应缴纳个人所得税()元。
沈阳故宫东、中、西路重要建筑依次是()。
1935年,国民党五届一中全会通过《确定国民经济建设实施计划大纲案》,确定“建设国民经济,必须为全盘之统制”的方针。该文件的颁布有利于()。
【给定资料一】1.党的十九大报告指出:“中国特色社会主义进入新时代,我国社会主要矛盾已经转化为人民日益增长的美好生活需要和不平衡不充分的发展之间的矛盾。”其中,最主要的问题是城乡发展不充分不平衡,乡村在全面小康建设和社会转型发展中已成为中国整个社
某单位有职工15人,其中业务人员9人。现要从整个单位选出3人参加培训,要求其中业务人员的人数不能少于非业务人员的人数。问有多少种不同的选人方法?
在报表设计时,如果只在报表最后一页的主体内容之后输出规定的内容,则需要设置的是
最新回复
(
0
)