最近几周，股权市场和债券市场的表现颇不一致。
THE equity and bond markets have been telling different stories in recent weeks.
股权市场经历了一年的波动，在新兴市场其数量明显增加，而发达地区却在下降。
The equity markets have experienced a year of volatility, with significant increases in volume in emerging markets and declines in developed regions.
所以，与网络公司股权市场或供应量有限住房市场相比，石油市场不易形成泡沫。
That makes it harder for a bubble to develop in oil than in the shares of Internet firms, say, or in housing, where the supply of the asset is finite.
中证报消息，最近一年来私募股权市场的火热，使得不少私募机构加码股权类基金的布局。
China Securities Journal news, the hot private equity market since a year age has attracted a lot of private equity institutions adding weight to the layout of equity funds.
目前同那时一样，要求银行抛售他们手中的股权——虽值得赞誉——却存在着使本就颓废的市场垮掉的风险。
Now, as then, requiring Banks to dump their shareholdings altogether-however laudable-would run the risk of turning a bear market into a rout.
美国统一完善、潜力巨大的市场的吸引力，加上其低税收和适宜的法律，使自身成为最受全球私募股权青睐的地方。
It is the allure of a big and seamless market, as well as low taxes and favourable laws, that makes America the choicest market for private equity in the world.
在油田所持的股权并不能使所有者总是有权分享其产出，而是当石油在公开市场上出售时分享其收入。
A stake in an oilfield does not always entitle the owner to a share of its output, rather than a share of the revenue when the oil is sold on the open market.
他说成功源于以市场为导向的决策和以股权和快速晋升激励员工的企业文化。
He said it comes instead from market-driven decisions and a corporate culture that motivates employees with stock and quick promotions.
又，当央行开始出售危机时购入的股权时，债券市场又会做何反应？
What will bond markets do if central banks also unload the holdings acquired during the crisis?
IPO市场和合并收购事项的严峻形势意味着风投将不得不持有这些公司的股权比预计的更久。
The dire state of the IPO market and the mergers-and-acquisitions business means VC funds will have to hold on to firms for far longer than planned.
五年前市场也曾出现过恐慌，不过当时，一些投资银行在面对私人股权客户的愤怒后选择了退却。
There was another flurry five years ago, but some retreated again after facing the wrath of their private-equity clients.
中国敏感的，长城般严防死守的证券市场伴随着非控股股权的发行，有了一丝小裂缝。
The offer of minority stakes was accompanied by a slight crack in the Great Wall that China has built around its highly sensitive securities markets.
莫里斯还说，私募股权经理人所实现的收益还应归功于很多其他因素，包括金融杠杠效应以及股票市场的整体走高，因此他们不能独揽全功。
In addition, he says, the returns they do achieve are due to factors, including high leverage and the overall movement of the stockmarket, for which private-equity managers cannot claim credit.
这场危机已经触发了货币的迅速贬值，以及在外国证券和股权投资商大量抛售其所持证券的同时出现的股票市场价格的大幅度下跌。
The crisis has triggered quick depreciation of currencies and major declines in stock market prices with foreign investors in securities and equities selling off large shares of their holdings.
金融市场面临的影响将会是最大的，尤其是对于不通过交易所而直接售给顾客的金融衍生品、流水套期保值和私募股权基金。
The most dramatic effects will probably be felt on capital-markets activities, especially in over-the-counter derivatives and in running hedge and private equity funds.
过去几年时间里，阿诺特一直利用股权互换合同悄悄增持爱马仕股份，此举导致金融市场监管局于上月对路易威登展开调查。
Mr. Arnault used equity swaps to stealthily build uphis initial stake in Hermès over the past several years, a move that caused theAMF to open an investigation last month into LVMH's move.
“市场对于去年的公司盈利回升反应平平”，三菱UFJ证券（Mitsubishi UFJ Securities）股权销售执行总监格里高利•斯坦内克说。
"The profit rebound last year wasn't recognized by the market, " says Gregory Stanek, executive director of equity sales at Mitsubishi UFJ Securities.
此外，当它大胆进军国外市场时，乐天市场还面临着国内顽强的竞争：距它最近的对手是大部分股权掌控在电信运营商软银手中的雅虎日本。
Moreover, as it ventures overseas, Rakuten faces stiffer competition at home: its nearest rival, Yahoo!
这项想法能使日本万一在全球对各种能源项目的股权收购出现问题的情况下，减少对现货市场的依赖性。
The idea was to make the country less dependent on the spot market in case of trouble by taking stakes in various energy projects around the world.
他试图在依然生存的企业中筹措到一支私募股权的基金，这样企业就可以相互帮助以巩固市场的优势地位。
He is trying to put together a private-equity fund from among the surviving firms so that they can help each other consolidate at the top end of the market.
近年来中国已允许一些公司通过合资企业的方式进入国内市场，而外方在合资企业中的股权比例不得超过约33%。
China has allowed a number of companies into the market in recent years through joint ventures, with their stakes capped at about 33%.
从某种意义上说，在信贷稀缺的时候，中国市场更有吸引力，因为中国的多数私募股权公司都是靠增长而不是靠杠杆来为投资者提供超额回报。
In one sense, China is a more attractive market when credit is scarce because most China private-equity deals rely on growth rather than leverage to provide investors with outsized returns.
投资者绝不会在收益仅仅符合市场一般回报水平时向传统基金的经理人支付业绩提成，然而他们却欣欣然的在同样情况下，给予私募股权经理人以业绩提成。
Investors would not dream of paying a performance fee to traditional fund managers merely for matching the market return, yet they cheerfully reward private-equity managers for the same feat.
在发达国家市场上，这些购股权通常会以可交易证券的形式出现，与认股权证类似。
In developed markets those rights typically take the form of tradable securities, similar to warrants.
在过去两年内，像SecondMarket和SharesPost这样的交易市场迅速崛起。这让私企股东出售股权容易多了。
The rise of exchanges like Second Market and SharesPost over the last couple of years have allowed shareholders in private companies to sell their stakes more easily than before.
在过去两年内，像SecondMarket和SharesPost这样的交易市场迅速崛起。这让私企股东出售股权容易多了。
The rise of exchanges like Second Market and SharesPost over the last couple of years have allowed shareholders in private companies to sell their stakes more easily than before.
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