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
53
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.
【F5】
选项
答案
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。
解析
转载请注明原文地址:https://kaotiyun.com/show/zNK4777K
0
考研英语一
相关试题推荐
(46)TheteachingofEnglishasasecondlanguage(ESL)inschoolshashadahistoryofconflictingarguments,interestinginnova
Itwasarulingthathadconsumersseethingwithangerandmanyafreetradercryingfoul.OnNovember20ththeEuropeanCourto
ThebeginningofwhatwastobecometheUnitedStateswascharacterizedbyinconsistenciesinthevaluesandbehaviorofitspop
Forthepast250years,politiciansandhard-headedmenofbusinesshavediligentlyignoredwhateconomics,hastosayaboutthe
Inademocraticsocietycitizensareencouragedtoformtheirownopinionsoncandidatesforpublicoffice,taxes,constitutiona
ShouldtheTreasurysellitseconomicforecastingcomputersforscrap?ForthepasttwoyearsnooneoutsidetheConservativePa
AnexpressionusedbyAmericansforabout100yearsis"topassthebuck".Itmeansrefusingtotakeresponsibility,lettingothe
WhataccountsfortheastoundingpopularityofDr.PhilMcGraw?WhyhavesomanyTVviewersandbookbuyersembracedthistough
McGrawreceivesdailytextmessagesfromSeventeenmagazineaboutfashion,includingtipsaboutwhattoweartotheprom.Shepl
McGrawreceivesdailytextmessagesfromSeventeenmagazineaboutfashion,includingtipsaboutwhattoweartotheprom.Shepl
随机试题
关系表中的每一行记录称为一个()。
简述压力变送器的检定环境条件,以及对工作介质的要求。
刘克庄所属的文学群体是()
A.四环素B.氯霉素C.链霉素D.嘌呤霉素能与原核生物的核蛋白体大亚基结合的抗菌素是
“公孙”在特定穴中属于
A.宫颈上皮内瘤变I级B.宫颈上皮内瘤变Ⅱ级C.宫颈上皮内瘤变Ⅲ级(重度不典型增生及局灶原位癌)D.宫颈癌Ib期E.宫颈细胞学为HSIL(高度上皮内瘤变)适于筋膜外子宫全切的是
根据《中华人民共和国证券法》的规定,股份有限公司发行的公司债券上市交易后,公司发生的下列情形中,证券交易所不可以决定终止公司债券上市交易的是()。
根据以下资料.回答问题。2013年7月份,社会消费品零售总额18513亿元,同比增长13.2%。其中,限额以上企业(单位)消费品零售额9159亿元,增长11.2%。1—7月份,社会消费品零售总额129277亿元,同比增长12.8%。按
下列选项中表述错误的是:
AttheUniversityofVirginiainCharlottesville,psychologyprofessorBellsDePaulogot77studentsand70townspeopletovolun
最新回复
(
0
)