许多市场已经超过20倍的价格向市盈率似乎超越于目前不确定的经济状况与许多国家仍处于严重的经济衰退。

Many markets' have above 20x price-to-earnings ratio which seemed excessive given the current uncertain economic condition with many countries still in deep economic recession.

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从两个市场的做市商制度与市场有效性的状况来看，做市商报价对债券价格的引导作用都比较明显，固定收益平台做市商的效率相对来说比较高。

From the market-making mechanism and market efficiency, market makers offer guidance for bond prices are both relatively obvious, the efficiency of market makers of fixed-income platform is higher.

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