Longer-dated bond yields have risen in recent weeks and the gap between long - and short-term rates (known as the "yield curve") is much higher than normal.

近几周来，长期债券收益率一直攀升，而且长短期债券的息差(被称为收益率曲线)已高出一般水平。

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A "normal" yield curve would have a rising trend, where yields move up as we go out along a timeline from short-term to long-term instruments.

“正常”收益曲线图将有一个上升倾向，出产量提高，当我们沿从短期的时间安排出去到长期仪器。

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Right now, we have a normal yield curve, with interest rates rising with length of maturity.

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On the consumer banking side, a more normal yield curve would benefit banks like Morgan Stanley due to a better lending environment as banks can borrow short-term rates and lend long-term.

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