尽管当这一消息爆出之后，美国的股市出现下跌，国债的信贷违约互换利差也有所拉大，但是债券市场表现却异常平静，当日收益率仍以低位收盘。
Although stocks fell and credit-default swaps on American debt widened when the news broke, the bond market remained oddly unruffled: yields ended lower on the day.
证券市场异常现象，是指风险调整后证券收益率超过预期收益率的现象。
Security market anomalies refer to the particular phenomenon in which the risk-adjusted returns to securities in mind exceed the expected values.
债券收益率没有什么明显理由的波动凸显出，利率翻倍可能引起异常激烈的反应，因为卖家找不到有意愿的买家。
Swings in bond yields, for little apparent reason, emphasise that a doubling of rates could create a disproportionate reaction as sellers fail to find willing buyers.
针对这一异常现象，本文通过对隐含相关收益率的因素分解，发现其来源于协方差项。
Furthermore, according to decompose the correlation implied returns, the paper find that the "anomalies" results from covariance term of implied returns.
针对这一异常现象，本文通过对隐含相关收益率的因素分解，发现其来源于协方差项。
Furthermore, according to decompose the correlation implied returns, the paper find that the "anomalies" results from covariance term of implied returns.
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