如果处在牛市，低利率表明投资者最终决定拒绝“现金为王”，转为更加偏好购买风险资产，以寻求更高回报。
For the bulls, it is a sign that investors will eventually decide to reject the safety of cash in favour of the higher returns available from riskier assets.
越多的投资者购买银行票据和债券，回报就越低，短期利率接近零。
The more investors want notes and bonds, the lower the yield, and short-term rates are close to zero.
极低的短期利率也促使投资者寻找更高的回报进而将资金转移至如股票和公司债券的风险资产中。
Very low short-term interest rates also encourage investors to seek higher returns by moving into risky assets such as equities and corporate bonds.
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