把钱存在床垫下?——或者买入美国国库债券——让那些债券继续膨胀?
Sock it away under a mattress - or in U.S. Treasury notes - and let the pile keep growing?
债券市场:周四晚些时候,10年期的美国国库债券价格下跌,从3.4%的贴现率下降到3.39%。
Bonds: the price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.40% from 3.39% late Thursday.
债券市场:周四晚些时候,10年期的美国国库债券价格下跌,从3.4%的贴现率下降到3.39%。
Bonds: the price on the benchmark 10-year U. S. Treasury fell, pushing the yield up to 3.40% from 3.39% late Thursday.
尤其是,美国国库债券市场上的混乱会溢出到其他的固定收入市场,在它们现有的低水平上进一步扩大信贷差幅。
Turbulence in the U. s. Treasury market could in particular also spill over to other fixed income markets, widening credit spreads from their current low levels.
期待货币制度出现变化,很有可能会导致亚洲机构减少对美国国库债券的积累,进而拉大美欧的利差和使美元走软。
Anticipation of a change in currency regime may well lead to reduced accumulation of Treasuries by Asian institutions, promoting wider US-European spreads and a weaker dollar.
构成美国国库债券基础的潜在收益出现任何一次始料不及的大幅增长,都可能会引发新兴市场债券信贷差幅扩大的局面。
An unexpectedly sharp increase in underlying U. s. Treasury yields would likely trigger a widening of credit spreads on emerging market bonds.
美国国库债券是资产的安全避险天堂,这是教科书般的定义。 在历史上,除贵金属之外,它也是你可以买到的最没有风险的资产之一。
U.S. Treasury bills are the textbook definition of a safe haven asset, historically one of the most risk-free assets you can buy next to precious metals.
当美国的财政部,卖出国库券,票据,债券时,他们几乎是私下交易的,或者说首先与经纪自营商交易,而不是大众市场。
When the Treasury in the United States sells Treasury bills notes and bonds they deal almost exclusively or we say primarily--with broker-dealers not the general public.
摩根·士丹利与美联储的口径相似,预计将出现债券狂跌,美国国库券的收益率骤升至5.5%。
Morgan Stanley expects bond carnage as this catches up with the Fed, predicting that yields on US Treasuries will rocket to 5.5pc.
假如这些国家不再把这些资产转换成美国国库券、抵押债券或是其他美国资产,加以时日美元的地位就一定会被削弱。
If they cease to rotate this wealth into us Treasuries, mortgage bonds, and other us assets, the dollar must weaken over time.
“事实表明只有两个市场真的是流动的:德国债券和美国国库券期货市场,”摩根斯坦利固收益入分析师ManojPradhan如是说。
“It turned out that only two markets were truly liquid: German-bond and US-Treasury futures,” says Manoj Pradhan, a fixed-income analyst at Morgan Stanley.
“事实表明只有两个市场真的是流动的:德国债券和美国国库券期货市场,”摩根斯坦利固收益入分析师ManojPradhan如是说。
“It turned out that only two markets were truly liquid: German-bond and US-Treasury futures, ” says Manoj Pradhan, a fixed-income analyst at Morgan Stanley.
相比之下,中期国库券的回报率为95.3%,高收益率的美国债券回报率为102.2%。
By contrast medium-dated Treasury bonds returned 95.3% and high-yield American bonds 102.2%.
高收益债券和美国国库券之间的利差只比危机期间的高点低了大约0.5个百分点。
The spread (excess interest rate) paid by high-yield borrowers is only around half a percentage point lower than it was at the height of the crunch.
第一种解释是“债券市场警戒员”睡着了。 “有时我们怀疑美国国库券投资者是不是喜欢赔钱。”
One possibility is that the “bond-market vigilantes” have been asleep.
另一个影响债券市场的就是国际投资者不愿意购买美国国库券。
Another influent sound (influence on) the bond market is the willing this (willingness) of foreign countries to buy US government debt.
您是否持有股票、共有基金、债券或美国国库券?
所有这些行动都造成有大量的资金已经进入美国的国库债券和各种固定收入证券,不过,现在人们还很难以测定它们已经给美国的收益造成多强烈的影响。
All these activities have promoted strong inflows into US Treasuries and other fixed-income securities, but it's difficult to gauge how strong their influence has been on US yields.
所有这些行动都造成有大量的资金已经进入美国的国库债券和各种固定收入证券,不过,现在人们还很难以测定它们已经给美国的收益造成多强烈的影响。
All these activities have promoted strong inflows into US Treasuries and other fixed-income securities, but it's difficult to gauge how strong their influence has been on US yields.
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