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
31
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://jikaoti.com/ti/rFZ7FFFM
0
考研英语一
相关试题推荐
McGrawreceivesdailytextmessagesfromSeventeenmagazineaboutfashion,includingtipsaboutwhattoweartotheprom.Shepl
Lessthanayearago,anewgenerationofdietpillsseemedtoofferthelong-soughtanswertoourchronicweightproblems.Hund
Itispredictedthattherewillbefourscientificbreakthroughsinthe21stcentury.We’llknowwherewecamefrom.Whydoe
[A]Whyreadingfallsintodecline?[B]Readingisrelatedtonationalpolitics[C]Readingisastimulatingexperience[D]Reading
Environmentalmovementisstrongerthaneverbutseemstobefightingalosingbattle.Despitearecordflowoffinancialresour
DifferentStages,DifferentNeeds不同阶段,不同需求A.Studythechartcarefullyandwriteanessayof160-200words.B.Youressayshould
JohnStuartMillarguedinthe19thcenturythatanindividualshouldbefreetodoashepleased,solongashedidnotharman
Writingforanhistoricalseriesistricky,andtheoutcomeisnotalwaysasuccess.ThebestoverallEuropeanhistoryinEnglis
Apartfromanewfootballstadiumandsomesmartuniversitybuildings,mostofMiddlesbroughlooksasthoughitcametoadeadh
Technologyissupposedtomakeourliveseasier,allowingustodothingsmorequicklyandefficiently.Buttoooftenitseemst
随机试题
简报在格式上不同于一般公务文书的突出特点是
关于声场的描述,错误的是
角膜感觉神经十分丰富,其支配的神经为
A.维拉帕米B.洋地黄C.阿托品D.利多卡因E.胺碘酮预激综合征合并快速心房颤动宜选择()
为表格设置边框,可以()。
甲公司持有B公司90%股份(系2016年以前取得),能够控制B公司的财务和经营决策。甲公司与B公司2016年度有关资料如下:(1)2016年6月10日甲公司从B公司购进W商品200件,购买价格为每件2万元(不舍增值税),价款已支付。B公司W商品每件成本为
艺术必须拒绝融人现实,从而保持一种_______的姿态。艺术之美所包含的自由、欢悦与人性是日常现实所_______的,同时也不会为纷繁的日常现实所消蚀,所掩盖。依次填入划横线部分最恰当的一项是:
方程组有非零解,则k=_______
给定程序MODll.C中fun函数的功能是:将n个无序整数从小到大排序。请改正程序中的错误,使它能得出正确的结果。注意:不要改动main函数,不得增行或删行,也不得更改程序的结构!#include#includefun(in
Someadvancedeconomies,notablyJapanandGermany,faredbetterthanothersduringthe1970sand1980s.
最新回复
(
0
)