20070627 What's Up in the Bond Market?

【葡萄采摘之旅】 89 号

 

Rising yields can also hurt stock prices.

债券上升也可能影响股票价格。

When yields rise, investors often sell stocks in order to buy bonds.

债券上升，投资者会卖掉股票买进债券。

If investors can get high yields holding low-risk bonds, or simply keeping money in the bank, they will do it.

只要投资者可以持有低风险高收益债券，或者只是把钱存在银行，他们都会那样做。

Yet holding bonds can also have risks as values for new and existing bonds change in the market.

持有债券也有风险，因为新上市或现有的债券市场价格会变动。

Bond prices can also drop on signs of inflution (inflation).

债券价格会因为通货膨胀而降低。

But inflation does not seem to be a fread (thread) with the current softness in the American housing market.

但是通货膨胀不是美国房屋市场缓和的导火索。

New housing starts fell more than two percent in they (May).

新房屋五月下跌了超过 2 ％。

Most experts believe the US central bank will keep interest rates on changed (unchanged) when policy makers meet next week.

专家大部分相信政策领导人下周开会的时候美国央行会保持存款利率不变。

But many investors are concerned about pressure for higher interest rates in Europe and Asia.

但是很多投资者关注欧洲和亚洲高收益利率的压力影响。

Another influent sound (influence on) the bond market is the willing this (willingness) of foreign countries to buy US government debt.

另一个影响债券市场的就是国际投资者不愿意购买美国国库券。

In Asia there have been signs that some countries that hold a lot of low-yield debt want greater returns on their investments.

亚洲典型现象是很多国家持有大量低收益债券，希望获得高收益回报。

China , for example, recently announced it will invest three billion dollars in the Blackstone Group, the private equity company in New York.

例如中国，最近宣称将要投资三千万给纽约的一家私人投资公司－黑石集团。

 

 

词汇： inflation: 通货膨胀

Willingness

拼写：

不敏感： thread ， may ， unchanged, influence on,