尽管利率在下降，但他们仍然给出了8%左右的实际收益率。
Though rates are heading down, they still offer real returns of 8% or so.
这些低实际收益率是投资者急于避免通胀伤害的信号么？
Are these low real yields a sign that investors are desperate to protect themselves against inflation?
英国2016年到期的通胀挂钩金边债券的实际收益率也是负值。
The British inflation-linked gilt that is due to mature in 2016 trades on a negative real yield.
这就意味着，附加了预期通胀率的10年期债权的实际收益率从1.05% 减至0.5%。
This means that real yields on ten-year, inflation-indexed Treasury bonds has fallen from 1.05% to 0.5%.
我一般认为债券有三个组成部分：实际收益率、预期通货膨胀率以及通货膨胀风险溢价。
I generally view bonds as having three components: the real yield, expected inflation, and an inflation risk premium.
整体通胀率是3.6%，实际收益率明显为负(与通胀挂钩债券的实际收益率也是如此)。
Headline inflation is running at 3.6%, making real yields markedly negative. (The same is true for real yields on inflation-linked bonds.)
30年期国债收益率为2.82 ％ ，3个月国库券，上周实际收益率仅为0.05 ％。
The 30-year T-bond stands at 2.82%, and three-month Treasury bills were sold last week for a yield of just 0.05%.
一个债券平均期限较长的，那么你也就要多等上几年才能收益，那么你的实际收益率就有大变动可能。
'the longer the average maturity for a bond, the longer you'll have to wait before payment, the more uncertain your yield will be come maturity.'
通过研究股票实际收益率与通货膨胀波动性之间的关系，可以判断股票市场波动和宏观经济运行之间的联系。
By studying the relationship between stock real returns and inflation, we could find the correlation between stock market volatility and macroeconomic conditions.
于市场触底的前一年，1931年底，购买美国股票投资者，此后的十年里可获得每年6.9%的实际收益率。
Investors who bought American equities at the end of 1931, well before the market hit the bottom the next year, would have earned an annual real return of 6.9% over the following ten years.
如果在11月2日5年期国债收益率为1.25%，那么指数关联型债券实际收益率为- 0.55%就意味着，预期通胀率为1.8%。
If five-year Treasury bonds are yielding 1.25%, as they were on November 2nd, then a negative 0.55% real yield on inflation-linked bonds implies an expected inflation rate of 1.8%.
在欧洲央行反通胀论调远比美联储坚定的情况下，10年期德国国债收益率超过美国国库券还有实际意义吗？
Indeed does it make sense for German ten-year bonds to yield more than Treasuries when the inflationary rhetoric of the European Central Bank looks much more hawkish?
实际上，养老金跟别的债务一样，因此应该用债券收益率来折现。
In effect, pensions are a debt like any other, and should be discounted with a bond yield.
实际的效果很难分辨；收益率在量化宽松政策开始后实际上在上升，但那有可能是因为经济情况已经改善了。
The actual effect is difficult to discern; yields have actually risen since QE began, but that is mostly because the economy has improved.
很难想象，除了欧洲央行一起购买债券(实际上就是救助)外，还有什么方法可能会降低债券的收益率。
It is hard to imagine what might push its bond yields down other than concerted buying by the ECB, a DE facto bail-out.
实际上，收益率在美联储停止该计划后降低了。
Indeed, yields have fallen since the Fed stopped the programme.
并购带来的潜在的更切实际的好处——削减国内成本以提高收益率——却鲜被提及。
A potentially more tangible benefit of merger-cutting costs at home to boost profitability-is less discussed.
实际上，经济学家惊讶地发现，很难清楚地说明沉重的公共债务和高额债券收益率的关系，经济学家有理由担心后者将会被挤出。
Indeed, economists find it surprisingly hard to demonstrate the clear link between heavy public debt and higher bond yields that would justify fears of crowding out.
截止本周四为止，黄金在过去五年内的实际年收益率竟高达18.3%。
As of Thursday, gold's annualized real return over the past five years is a stunning 18.3%.
对于过量风险的讨论表明。所有制越集中，实际暴露的收益率越少。
The excessive risk argument would suggest that the more concentrated the ownership, the smaller would be the actual exposure to earnings and asset risk.
债券收益率已实际下降。
所以，你的实际年收益率，应该高于2.51%。
So, that is not — your return is actually higher than 2.51% on an annualized basis.
年长的投资者可能会记起1962年的情形，当时美国国库券收益率还不到4%，其持有者在此后的5年、10年和20年内承受了负的实际回报率。
Veteran investors may recall 1962, when the Treasury-bond yield was less than 4%. Those who bought bonds then earned negative real returns over the succeeding five-, ten- and 20-year periods.
伯南克说美联储的所有的定量宽松是“降低利率”，但实际上10年期债券的收益率是2.97%，达到4个月的新高。
Bernanke says that all the Fed's quantitative easing is doing is, "lowering interest rates", but in fact, yields on the 10-year bond are now 2.97%, a new four-month high.
金融顾问公司Longview Economics的克里斯·沃特林(Chris Watling)指出了另一项估值方法，收益率和实际现金回报率之间的关系。
Chris Watling of Longview Economics points to another measure, the relation between the earnings yield and the real return on cash.
然而对实际市场数据的经验统计结果表明，多数股票的对数收益率并不服从正态分布。
But Statistics result of actual market indicate most log-return of stock disobey normal distribution.
改变传统的无风险收益率等同于国债利率的做法，采用一年期贷款利率作为无风险报酬率，以期使评价结果更加符合实际情况。
A year period lending rate is used for no-risk guerdon rate in place of national debt interest rate in order to match actual circumstance.
改变传统的无风险收益率等同于国债利率的做法，采用一年期贷款利率作为无风险报酬率，以期使评价结果更加符合实际情况。
A year period lending rate is used for no-risk guerdon rate in place of national debt interest rate in order to match actual circumstance.
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