文档介绍：外刊时文---The power of faith信心的力量
The Power of Faith信心的力量
(equity ,公平;/ rally ;,上升)
IF a couple of trading days could sum up the mood of financial markets this year, it has to be August 2nd and 3rd. It has been a switchback year all the way through. The volatility also illustrated how dependent financial markets are on the actions of central banks. Fiscal policy is generally being tightened in the developed world, whether voluntarily (as in Britain) or under pressure from creditors (as in southern Europe). But there is still scope for ary easing in the form of bond-buying programs, financed with newly created money. So investors wait agog for every central-bank announcement, every publication of the latest meeting minutes, every speech by a board member.
如果可以用两个交易日来总结今年金融市场的情绪,那就得用:8月2日与8月3日。总的来说,今年的股票市场是反反复复的一年。这种易变性正表明了金融市场是如何依赖央行的一举一动。不管是出于自愿(比如英国)还是迫于债权人的压力(比如南欧),发达国家的财政政策现在通常是紧缩的。但还是有余地以增印钞票购买债券的形式放松货币政策。所以,投资者们翘首期盼着央行的每一条声明,最新公开的每一条会议记录,和董事会的每一场演讲。
Although the markets have often been disappointed by European rescue plans, hope springs eternal that the ECB and the politicians e up with some kind of package that will prevent a break-up of the single currency and stop the continent’s slide into deep recession. When hopes of such a deal rise, investors can be indiscriminate about which assets they buy. In July, European shares, ten-year German Bunds an