Predicting markets is as hubristic a business as tattooing a sweetheart's name on a bicep, particularly at times of high volatility, when normal rules no longer seem to apply.

预测市场，就像把情人的名字纹在二头肌上一样高傲，特别是一般规则都不起作用的动荡时刻。

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Bond volatility combined with mark-to-market accounting rules has helped crush the daily trading prices of many bonds.

公债贬值与市场决定期货价格统计准则联系到了一起，从而使得许多公债的日常交易价格受到打压。

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With regulators failing to enforce disclosure rules, and with cautious big investors overtaken by the herd of small punters, volatility was to be expected.

[underpricing 字典没有，我估计的意思]因为管理者没能有力执行严谨的规则，随着谨慎的大投资者被一群小股民所取代，这种情况促进了流动资金的预期。

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In a worrying move, Mr Chavez changed the rules of a new stabilisation fund, which is supposed to smooth out the economic impact of volatility in the oil price.

ECONOMIST: Chavez’s muddled new world | The