美联储应该公开它的资产负债表、收益表,可能还有最重要的现金流量表。
The Fed should make public its balance sheet, income statement, and perhaps most importantly its cash flow statement.
通常的理由是基于一个折现现金流量模型;较低的债券收益率意味着降低贴现率,从而提高股票的现值。
The reasoning is usually based on a discounted-cashflow model; a lower bond yield means a lower discount rate and thus a higher present value for shares.
现金流量可以通过会计收益来调整确定。
Cash flow can be determined by adjusting the accounting rate of return.
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