If you divide the 20th century into quartiles, the period when the initial yield gap was highest (ie, bonds yielded more than cash) saw a subsequent ten-year real return from gilts of just 0.3%.
如果你把二十世纪分成四个时期,初始收益差最高的时期(例如,债券比现金收益大)之后会遇到十年金边债券净收益只有0.3%的情况。
Calculation case shows that in the given initial value and restraints, convexity gap model can lessen the exposure position of interest rate risk and increase yields.
计算实例表明,凸度缺口模型对于给定的初始值和约束条件,可以较好地减少利率风险的暴露头寸和提高收益;
Material to be bonded after the initial setting, with bamboo and other materials scrape off excess adhesive, then brush the surface of the gap repair.
待粘接料初凝后,用竹片等将多余的粘接料刮去,再用毛刷修理缝隙表面。
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