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
45
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.
【F4】
选项
答案
根据最新数据显示,九月份外国买家仅仅购买了56亿美国国债,与八月份的251亿美元和前四个月平均达到的387亿美元相比,实在相形见绌。
解析
转载请注明原文地址:https://kaotiyun.com/show/sNK4777K
0
考研英语一
相关试题推荐
Itwasarulingthathadconsumersseethingwithangerandmanyafreetradercryingfoul.OnNovember20ththeEuropeanCourto
Foralongtime,researchershavetriedtonaildownjustwhatshapesus—orwhat,atleast,shapesusmost.Andovertheyears,
Forthepast250years,politiciansandhard-headedmenofbusinesshavediligentlyignoredwhateconomics,hastosayaboutthe
Americanhighereducationstandsonthebrink(边缘)ofchaos.1havesomanyspentsolonglearningsolittle.Thepresentcri
Americanhighereducationstandsonthebrink(边缘)ofchaos.1havesomanyspentsolonglearningsolittle.Thepresentcri
Inthe19thcentury,theinventionofthetelegraphandthetelephoneforeverchangedhowmessagesmovedaroundtheworld.Inth
YouareastudentofPekingUniversity.Writeanapplicationtogetascholarshipforyourgraduatestudyinanotheruniversity
AnexpressionusedbyAmericansforabout100yearsis"topassthebuck".Itmeansrefusingtotakeresponsibility,lettingothe
Hereissomeadviceonfoodshopping.The【C1】______familyspendsaboutone-sixthofitsincome【C2】______food.Becausefoodisex
WhataccountsfortheastoundingpopularityofDr.PhilMcGraw?WhyhavesomanyTVviewersandbookbuyersembracedthistough
随机试题
A.急性心房颤动B.阵发性心房颤动C.持续性心房颤动D.永久性心房颤动E.首诊心房颤动女性,45岁,患风湿性心脏病二尖瓣狭窄20年。近1个月来多次突发心悸。心电图证实为心房颤动,持续几分钟至几小时不等,可自行恢复。应诊断为
私人物品与公共物品的主要区别在于()
头面先肿,继而波及全身,小便短少,发热恶风者,多因全身水肿,肿势较缓,肢体困重,脘闷纳呆,苔白腻者,多因
提示肺动脉高压的体征提示右心功能不全的体征
材料1:V市是z省面积最大、人口最多的设区市,户籍人口超900万,同时也是“一带一路”重要节点城市、全国性综合交通枢纽和先进制造业基地之一,城市服务行业发展迅速。然而,随着商业服务模式的分工细化,越来越多的人从事与销售有关的基础服务行业,而对劳动
“不观高崖,何以知颠坠之患?不临深渊,何以知没溺之患?不观巨海,何以知风波之患?”对这一说法的理解,正确的是()。
"WewantSingaporetohavetheX-factor,thatbuzzthatyougetinLondon,Paris,orNewYork".ThatishowLeeHsienLoong,Sin
BSP过程定义以前,需要做的几件事与BSP成败密切相关,其中研究成员必须建立和理解【】及资源生命周期概念。
Aresmarterkidssmartenoughtoavoidalcoholanddrugs?Fordecades,scientistshaddocumentedthatthosewithlowerIQandle
【B1】【B3】
最新回复
(
0
)