① 请比较股票股利和现金股利，用英文写出
The purpose of dividends is to return wealth back to the shareholders of a company. There are two main types of dividends: cash and stock.
A cash dividend is a payment made by a company out of its earnings to investors in the form of cash (check or electronic transfer). This transfers economic value from the company to the shareholders instead of the company using the money for operations. However, this does cause the company's share price to drop my roughly the same amount as the dividend. For example, if a company issues a cash dividend equal to 5% of the stock price, shareholders will see a resulting loss of 5% in the price of their shares. This is a result of the economic value transfer. Another consequence of cash dividends is that receivers of cash dividends must pay tax on the value of the distribution, lowering its final value. Cash dividends are beneficial, however, in that they provide shareholders with regular income on their investment along with exposure to capital appreciation.
A stock dividend, on the other hand, is an increase in the amount of shares of a company with the new shares being given to shareholders. For example, if a company were to issue a 5% stock dividend, it would increase the amount of shares by 5% (1 share for every 20 owned). If there are 1 million shares in a company, this would translate into an additional 50,000 shares. If you owned 100 shares in the company, you'd receive five additional shares.
This, however, like the cash dividend, does not increase the value of the company. If the company was priced at $10 per share, the value of the company would be $10 million. After the stock dividend, the value will remain the same, but the share price will decrease to $9.52 to adjust for the dividend payout. The benefit of a stock dividend is choice. The shareholder can either keep the shares and hope that the company will be able to use the money not paid out in a cash dividend to earn a better rate of return, or the shareholder could also sell some of the new shares to create his or her own cash dividend. The biggest benefit of a stock dividend is that shareholders do not generally have to pay taxes on the value. Taxes do need to be paid, however, if a stock dividend has an cash-dividend option, even if the shares are kept instead of the cash.
Stock dividends are thought to be superior to cash dividends as long as they are not accompanied with a cash option. This is e to the choice that stock dividends offer compared to cash dividends. But this does not mean that cash dividends are bad, they just lack choice; a shareholder could still reinvest the proceeds from the cash dividend back into the company through a dividend reinvestment plan.
② 目前无风险利率为1%，市场组合的风险溢价为3%，A股票的B系数为1.2，预期每股收益为1元，试计算A股票的理论
ke = Rf +(Rm-Rf)B
ke = 1% + (3%-1%)*1.2
= 3.4%
MV = dividend(1+g)/(Ke-g)
= 1/(3.4%-g)
不知道growth是多少，所以还没办法求market value.
③ 求!!!!!!!一份股票市场中专用名词的英文 谢谢!!!!!!!!!!
复制粘贴太没品，你点这个，你问的是别人问过的问题。
=============================补充给你：
Advance-Decline Theory
涨跌理论
Arbitrage
套利
Arbitrageur
套利者
As Agent
做代理
Ask-Bid System
竞价系统
At-the-Close Order
收盘指令
At-the-Market
按市价
At-the-Opening(Opening Only)Order
开盘指令
Back Up
逆向变化
Bar Chart
条线图
Base Market value
基准市场价值
Bearish
行情看跌
Bear Market
熊市
Bear Raiders
大量抛空者
Bid-and-Asked Quotation(or Quote)
买方报价和卖方报价（报价）
Blowout
畅销
Blue-Chip Stocks
蓝筹股
Breakout
突破
Bullish
行情看涨
Bull Market
牛市
Buying Power
购买力
Cancellation
取消
Capitalization
资本
Certificate
证券证书
Climax(Buying/Selling)
放量（买/卖）
Close
收盘价
Closing Transaction
平仓交易
Commission
佣金
Congestion Area
震荡区
Cornering the Market
*纵市场
Corporation
股份公司
Cum Rights
含权
Cyclical Stock
周期性股票
Date of Record
登记日
Day Order
当日委托指令
Day Trading
日交易
Dealer
交易商
Descending Tops
下降顶点趋势
Dip
回调谷
Distribution Area
整理区
Diversification
分散投资
Dividends
红利
Don't Fight the Tape
顺行情交易
Double Bottom
双底
Double Top
双顶
Dumping
抛售
Effective Date
生效日期
Ex-Distribution(X Dis)
无分配额
Ex-Dividend(XD)(Without Dividend) Date
除息日
Expiration Date
到期日
Ex-Right(XRT)
除权
Face value
面值
Floor
交易大厅
Floor Order Tickets
场内委托单
Free-Riding
自由放纵投机行为
Frozen Account
冻结账户
Fundamental Analysis
基本面分析
Futures
期货
Gap
跳空
Head and Shoulders
头肩形
star 2005-11-23 01:19
Highballing
高价交易
Holder of Record
登记持股人
Holding the Market
托盘
Horizontal Price Movement
横盘
Hot Issue
抢手证券
Inactive Market
不活跃市场
Index
指数
Insider
内幕人
Institution
机构投资者
In the Tank
跳水
Issued-and-Outstanding Stocks
已发行流通股
Issuer
发行人
Joint Account
联合账户
Last Trading Day
最后交易日
Liquidation
清仓
Liquidity
流动性
Listed Stock
上市股票
Long Market value
所持证券市场价值
Long Position
多头头寸
Manipulation
*纵
Marketability
流动性
Market Price
市场价格
Market value
市场价值
Matched Orders
对敲指令
Merger
合并
Negotiability
流通性
New Issue
新发行
Offer
要价
Offering (Asked) Price
卖方要价
Offering Date
发行日
Off-Floor Order
场外委托
On-Floor Order
场内委托
On the Tape
行情显示
Opening
开盘价
Opening Only Order
开盘委托指令
Opening Transaction
建仓交易
Oversold
超卖
Overvalued
估值过高
P(rice)/E(arnings) Ratio
市盈率
Paper Loss/Profit
账面损益
Pennant
尖旗形
Picture
行情
Place
发售
Portfolio
证券组合
Position
头寸
Price Range
价格范围
Primary Distribution(Offering)
初次发售
Primary Market
次级市场
Primary Movement
大趋势
Principals(Stockholders)
股东
Principal value
本金值
Profit Taking
活力回吐
Public Offering(Distribution)
公开发售
Purchasing(Buying) Power
购买力
star 2005-11-23 01:20
Rally
反弹
Reading the Tape
看盘
Record Date
登记日
Reorganization
资产重组
Resistance
阻挡区
Resistance level
阻挡线
Reversal
反转
Rigged Market
受*纵的市场
Rising Bottom
上升谷底趋势
Rounding Bottom(Saucer)
圆底
Rounding Top
圆顶
Screen(Stocks)
选股
Secondary Distribution(Offering)
二次发售
Secondary Market
二级市场
Securities Analysis
证券分析
Security
证券
Seek a Market
寻求入市机会
Selling Off(Sell-Off)
止损抛售
Share
股份
Short Position
空头头寸
Soft Market
疲软市场
Speculation
投机
Split Down
并股
Spread
价差
Stag
攫利者
Stagflation
滞胀
Stagnation
萧条
Stockholder(Shareholder)
持股人
Stocks
股票
Subion Ratio
认购比率
Substitution(Swap)
替代（互换）
Support
支撑区
Support Level
支撑线
Sweetener
甜头
Takeover
接管
(Ticker) Tape
行情显示系统
Technical Analysis
技术分析
Technical Sign
技术讯号
Tight Market
旺市
Tip
提供消息
Total Cost
总成本
Total Volume
总成交量
Trade Date
交易日
Trader
交易商
Trading Authorization
交易授权
Trading Floor
交易大厅
Trend
趋势
Trendline
趋势线
Triangle
三角形
Undervalued
估价过低
Unissued Stock
未发行股票
Uptrend
上升趋势
Volume
交易量
Weak Market
弱市
Wedge
楔形
W Formation
W底
Without Dividend
除息
④ 股指期货对中国股市的影响
股指期货的四方面影响
股指期货对中国股市有四影响 不改市场长期趋势
随着我国经济的持续稳定发展以及市场化改革的不断推进，金融衍生产品的推出成为当务之急。股指期货作为一个投资品种和风险管理工具，本身是中性的，它的推出不会改变市场的长期趋势，虽然在其推出后短期内可能会对股市形成一定的扰动，但主要仍将受市场总体态势及内在估值的影响，而且估值因素的影响更为重要。
当然，由于股指期货具有金融衍生产品的特性，它的推出必然会对我国股票现货市场产生重要而深远的影响，主要有以下几个方面：
影响一，证券投资思维方式的变革。股指期货提供了风险管理工具，有助于投资者真正构建投资组合，降低系统性风险。另外，股指期货引入了做空机制，影响市场走势的因素比以前就更多了，投资者的投资思维和投资策略也必须适时转变，改单向思维为双向思维。股指期货推出后，一方面，市场估值更趋合理，股价不太可能再大幅超出其内在价值，否则，与基本面严重脱节的股票就会产生很多套利机会；另一方面，只要趋势判断准确，做空也能获利，即在熊市中亦可赚钱。
影响二，可以吸引增量资金进场，扩大股票市场规模，增强市场流动性。股指期货推出后，由于部分投资者需要对资产组合进行重新配置，故短期内可能会分流股票现货市场的资金，影响股票市场交易量。但从中长期来看，股指期货的推出使得股票交易机制更加完善，同时多了一种风险管理工具，将会吸引更多的稳健型资金参与股票投资。另外，利用股票现货和股指期货套利是一种风险较低的交易模式，能够吸引许多套利资金入市。因此，股指期货能够为市场带来大量新增资金，提高股票现货市场的活跃程度，推动股票现货和股指期货的交易量双向增长。美国、香港等市场的经验也验证了这一点，芝加哥商业交易所1982年推出S&P500股票指数后，股票现货和股指期货的交易量大幅提高；香港1986年推出恒生股指期货后，股票交易量当年就上升了60%，此后股票交易量不断增加。
影响三，有助于优化投资者结构。目前我国证券市场参与者仍以中小投资者为主，机构投资者的规模只占30%左右，由于各种原因，中小投资者大多以投机心态参与股市，显然不利于证券市场的长期健康发展。股指期货推出后，除了会增强市场的流动性和稳定性之外，也将提高证券市场的发展程度和层次，各种套期保值和套利行为将趋于活跃，中小投资者难以参与，这有利于改善我国证券市场的投资主体结构，大大加速机构化进程，使机构博弈成为市场投资的主流，我国也将像其它发达国家一样进入机构投资者主导的时代。
影响四，将提升大盘蓝筹股的投资价值。大盘蓝筹股具有股本巨大、业绩优良、派息率高、流动性强等优势，容易受到主流资金的青睐。股指期货推出后，机构投资者手中必须拥有充足的大盘蓝筹股筹码，才能具备调控股指的话语权。我国A股股指期货已选定以沪深300指数为标的，因此，以沪深300指数成分股为代表的大盘蓝筹价值股将成为今后投资者最为关注的焦点，它们将是机构投资者不可或缺的核心配置资产。此外，机构投资者进行套期保值也需要配置许多大盘蓝筹股，并作为基础仓位战略性持有。尤其在股指期货正式推出前还会有抢筹效应，大盘蓝筹股将显现稀缺性溢价。今后投资者应积极关注沪深300指数的成分股，特别是主要成分股。
下面是大概翻译成英文,你还要自己修正一下:
The stock index stock's square face makes a sound the stock index stock to have four influences to the Chinese Stock market not to change market long-term trend to continue the steady progression as well as the marketability reform unceasing advancement along with our country economy, the finance derivative proct promotes into the urgent matter. The stock index stock takes an investment variety and the risk management tool, is in itself neutral, it will promote will not change the market the long-term trend, although after it will promote in the short-term to the stock market will possibly form certain perturbation, but mainly still will receive the market overall situation and the intrinsic estimate value influence, moreover the estimate value factor's will influence be more important. is natural, because the stock index stock has the finance derivative proct characteristic, it will promote definitely will have important and the profound influence to our country stock stock market, mainly will have the following several aspects: affects one, securities investment thinking mode transformation. The stock index stock has provided the risk management tool, is helpful constructs the investment profolio truly in the investor, reces the systematic risk. Moreover, the stock index stock introced has made the spatial mechanism, affected the market trend the factor before have been more than, investor's investment thought and the investment strategy must at the right moment transform, change the unidirectional thought are the bidirectional thoughts. After the stock index stock promotes, on the one hand, the market estimate value hastens reasonably, the stock price not too possible to surpass its intrinsic value largely again, otherwise, the stock which will come apart seriously with the fundamental plane will have many arbitrage opportunities; On the other hand, so long as the tendency judgment is accurate, does spatially can also make a profit, namely may also make money in the bear market. affects two, may attract the increase fund approach, the expansion Stock market scale, strengthens the market fluidity. After the stock index stock promotes, because the partial investors need to carry on to the asset portfolio redeploy, therefore in the short-term will possibly diverge stock stock market the fund, will affect the Stock market business volume. But looking from the medium and long-term, the stock index stock promotes causes the stock transaction mechanism to be more perfect, simultaneously have been many one kind of risk management tool, will attract the more steady fund participation stock investment. Moreover, the use stock on-hand merchandise and the stock index stock arbitrage is one kind of risk low transaction pattern, can attract many arbitrage fund entering the market. Therefore, the stock index stock can bring the massive additional fund for the market, enhances the stock stock market the active degree, impels the stock on-hand merchandise and the stock index stock business volume bidirectional growth. Market and so on US, Hong Kong experiences have also confirmed this point, after Chicago commercial exchange in 1982 promoted the S&P500 stock index, the stock on-hand merchandise and the stock index stock's business volume largely enhances; After Hong Kong in 1986 promoted the Hengsheng stock index stock, the stock business volume rose 60% in the past, hereafter the stock business volume increased unceasingly. affects three, is helpful in optimizes the investor structure. At present our country stock market participant still by the young investor primarily, institutional investor's scale only accounted for about 30%, as a result of each kind of reason, the young investor mostly by the congenial point of view participation stock market, does not favor the stock market obviously the long-term healthy development. After the stock index stock promotes, besides will strengthen the market the fluidity and the stability, also will enhance the stock market the degree of development and the level, each kind of hedge and the arbitrage behavior will tend to be active, the young investor will participation with difficulty, this will be advantageous in improves our country stock market the subject of investment structure, will accelerate the organization advancement greatly, will cause the organization to gamble into the market investment the mainstream, our country will also look like other developed countries to enter equally the time which the institutional investor will lead. affects four, will promote the bulk lots blue chip stock the value of each contribution. The bulk lots blue chip stock has the capital stock to be huge, the achievement is fine, distributing dividends rate high, fluidity strong and so on superiority, easy to receive the mainstream fund the favor. After the stock index stock promotes, in the institutional investor hand must have the sufficient bulk lots blue chip stock chip, can have the regulative stock index words power. Our country A stock index stock has designated take the Shanghai and Shenzhen 300 indices as the sign, therefore, will become take the Shanghai and Shenzhen 300 indices distributes stock shares plans the value stock as representative's bulk lots to become the focal point which blue the investor most will pay from now on attention, they will be institutional investor's indispensable core disposition properties. In addition, the institutional investor carries on the hedge also to need to dispose many bulk lots blue chip stock, and the underlie shipping space strategic has. Especially before the stock index stock will promote officially will also have snatches plans the effect, the bulk lots blue chip stock will appear the scarcity premium. From now on the investor should pay attention to the Shanghai and Shenzhen 300 indices to become positively distributes stock shares, specially mainly becomes distributes stock shares.
⑤ 财务题求股票现值
使用两阶段模型
第一个就是前3年的高速增长分别折现，从第四年开始就是永续增长模型折现后在折现到0时点
p1=0.55*（P/F,16%,1）=0.862*0.55=0.4741
p2=0.8*(P/F,16%,2)=0.8*0.743=0.5944
p3=1.1*(P/F,16%,3)=1.1*0.64=0.704
p4=[1.1*（1+5%）/(16%-5%)]*(P/F,16%,3)=6.72
P=6.72+0.5944+0.704+0.4741=8.4972
选A
开始用了12%的折现率 我去 难怪算出来比最大的选项还大~~~看清题很重要啊~
另外说下 你英文翻译该加强 嘿嘿
⑥ 请根据以下代码帮我写一个SQL server的触发器
--可以用触发器而且很方便
--触发器针对插入数据的有什么不明白可以随时问我希望采纳
createtrigger触发器名onDB_WEPay
afterinsert
ASBEGIN
ifexists(select1frominserted)
begin
updateDB_WEPaysetDB_WEPay.elePay=inserted.eleQua*0.5,DB_WEPay.baseFee=inserted.baseFee-inserted.eleQua*0.5,
DB_WEPay.arrearagePay=casewhen(inserted.baseFee-inserted.eleQua*0.5)<0then(inserted.baseFee-inserted.eleQua*0.5)
elseinserted.arrearagePayend
frominsertedjoinDB_WEPayonDB_WEPay.weNo=inserted.weNo
end
go
--经过测试 成功 不能为空的 都有输入哦 不过该变的列会自动运算的
⑦ 财务题求每股股票支付的最大值应该是多少
我去 这不跟我上午回答的题目一模一样的么。只是改了改数字，然后把第二阶段改成了零增长增长模型啊。。。。。你不会就是那个人把。。
这个是不是你问的。。。
p1=1.3*（P/F,12%,1）=0.892*1.3=1.1596
p2=1.45*(P/F,12%,2)=1.45*0.797=1.1557
p3=1.7*(P/F,12%,3)=1.7*0.711=1.2087
p4=（1.5/12%）*(P/F,12%,3)=8.8875
P=p1+p2+p3+p4=12.4115
选B
⑧ 澳大利亚网上购物的网站是什么
澳洲购物七大网站：
1.澳洲团购网
澳洲团购网是澳洲第一家中文精品限时团购网，精选美食、摄影、美容、电影、旅游等特色商家，每天为您推荐一种优质的服务或产品，帮您发现最好玩、最新鲜、最刺激、最省钱的生活方式，使您享受至尊无敌折扣。
7.澳洲后院
澳洲后院是一个专卖中国特色蔬菜种子的网站，主要销售各类种子以及种植相关用品，服务于广大后院种植爱好者。澳洲的蔬菜很多，但是中国特有的蔬菜并不容易买得，这个网站是一个好去处。另外，网站还开设有后院论坛，网友们可以讨论蔬菜种植的问题、分享种植经验。
(8)澳大利亚afterpay股票代码扩展阅读：
购物网站就是提供网络购物的站点，足不出户即可购买到你所喜欢的商品。目前国内比较知名的专业购物网站有卓越网、当当网等，提供个人对个人的买卖平台有淘宝、易趣、拍拍等，另外还有许多提供其它各种各样商品出售的网站。购物网站就是为买卖双方交易提供的互联网平台，卖家可以在网站上登出其想出售商品的信息，买家可以从中选择并购买自己需要的物品。
购物网址导航是指通过科学统筹的方法，对网友常用的购物网站进行对比，根据网站的规模、实力、信誉等进行排行，方便网友们快速找到自已购物所需要的网站，可以货比三家，买到物美价廉的商品。
购物网址导航与一般的导航网站相比有何特色？
（1）提供了全面,详细的网上购物入口，轻松实现快捷购买。
（2）可以通过不同分类进行导航,用最方便,最快捷的方式找到你需要的网站与商品。
（3）提供了网上购物所需的各种工具与网站,满足你的购物需求。
（4）公正性很强(大站.专站.小站）排列顺序分明，公平公正的购物网址TOP排行榜。
购物网站导航也称导购网站。新的导购网站模式必须从消费者的角度去分析和总结，应该坚持为消费者服务、为网店服务、为电商服务的3F原则，努力探寻更高意义上的导购原则和规范。
由于互联网在中国的迅猛发展，以及网上购物本身优势带来网购市场空前的繁荣，迫使众多卖家急需找到更多的展示平台为自己打开销量，而买家也被剧增的B2C、C2C看花了眼。在这种大背景下网购导航应运而生，而网购导航网站也大致分为3类：
第一类是综合性较强导航网站
第二类是专业性较强的比价购物
第三类是返还网站
⑨ 阿里云如何使用扩容磁盘接口
扩容磁盘
描述
当前仅支持对数据盘的扩容操作。
只有数据盘类型为普通云盘、高效云盘、SSD
云盘，才可以进行扩容操作。
挂载在实例上的数据盘，只有实例为
Running
或者
Stopped
状态时，才可以进行扩容操作。
磁盘上如果正在执行打快照的操作，则此时不允许进行扩容操作。
挂载在实例上的磁盘，在进行扩容操作后，需要在控制台或者使用
Open
API
重启实例才能使扩容生效。
扩容仅做磁盘容量的扩大，不做分区和文件系统的扩大，扩容完成后，用户还需要手动分配存储空间。
请求参数
名称
类型
是否必须
描述
Action
String
是
系统规定参数，取值：ResizeDisk
DiskId
String
是
磁盘的编号
NewSize
Integer
是
希望扩容到的磁盘大小。
以
GB
为单位，取值范围为
Cloud：5
~
2000
ClientToken
String
否
用于保证请求的幂等性。由客户端生成该参数值，要保证在不同请求间唯一，最大不值过
64
个
ASCII
字符。
返回参数
全是公共返回参数，详见公共返回参数
错误码
错误代码
描述
Http
状态码
语义
InvalidDiskSize.TooSmall
Specified
new
disk
size
is
less
than
the
original
disk
size
403
指定的新磁盘容量比原磁盘容量小
InvalidParameter
The
specified
parameter
"NewSize"
is
not
valid.
403
指定的新磁盘容量超出了限制范围
OperationDenied
The
status
of
the
disk
or
the
instance
that
the
disk
is
attaching
with
does
not
support
the
operation
403
磁盘或者磁盘所挂载的实例状态不支持扩容
OperationDenied
The
type
of
the
disk
does
not
support
the
operation
403
磁盘类型不支持扩容
InvalidDiskId.NotFound
The
specified
disk
does
not
exist.
404
磁盘不存在
InvalidInstanceId.NotFound
The
specified
instance
does
not
exist.
404
磁盘所挂载的实例不存在
InstanceExpiredOrInArrears
The
specified
operation
is
denied
as
your
prepay
instance
is
expired
(prepay
mode)
or
in
arrears
(afterpay
mode).
403
磁盘挂载的实例过期
示例
请求示例
https://ecs.aliyuncs.com/?Action=ResizeDisk
&DiskId=xxx
&NewSize=1024
&<公共请求参数>
返回示例
'XML'格式
F3CD6886-D8D0-4FEE-B93E-1B73239673DE
'JSON'格式
{
"RequestId":
"F3CD6886-D8D0-4FEE-B93E-1B73239673DE"
}
⑩ 股票里涨是rise, 跌是decline，那不涨不跌（平）怎么说呢
交易量 Trading volume
trading volume the number of shares, bonds or contracts traded ring a given period, for a security or an entire exchange.The bond market (also known as the debt, credit, or fixed income market) is a financial market where participants buy and sell debt securities, usually in the form of bonds. As of 2006, the size of the international bond market is an estimated $45 trillion, of which the size of the outstanding U.S. bond market debt was $25.2 trillion.
Nearly all of the $923 billion average daily trading volume (as of early 2007) in the U.S. Bond Market[2] takes place between broker-dealers and large institutions in a decentralized, over-the-counter (OTC) market. However, a small number of bonds, primarily corporate, are listed on exchanges.
References to the "bond market" usually refer to the government bond market, because of its size, liquidity, lack of credit risk and, therefore, sensitivity to interest rates. Because of the inverse relationship between bond valuation and interest rates, the bond market is often used to indicate changes in interest rates or the shape of the yield curve.
Market structure
Bond markets in most countries remain decentralized and lack common exchanges like stock, future and commodity markets. This has occurred, in part, because no two bond issues are exactly alike, and the number of different securities outstanding is far larger.
However, the New York Stock Exchange (NYSE) is the largest centralized bond market, representing mostly corporate bonds. The NYSE migrated from the Automated Bond System (ABS) to the NYSE Bonds trading system in April 2007 and expects the number of traded issues to increase from 1000 to 6000.
Types of bond markets
The Securities Instry and Financial Markets Association classifies the broader bond market into five specific bond markets.
Corporate
Government & Agency
Municipal
Mortgage Backed, Asset Backed, and Collateralized Debt Obligation
Funding
Bond market participants
Bond market participants are similar to participants in most financial markets and are essentially either buyers (debt issuer) of funds or sellers (institution) of funds and often both.
Participants include:
Institutional investors;
Governments;
Traders; and
Indivials
Because of the specificity of indivial bond issues, and the lack of liquidity in many smaller issues, the majority of outstanding bonds are held by institutions like pension funds, banks and mutual funds. In the United States, approximately 10% of the market is currently held by private indivials.
Bond market volatility
For market participants who own a bond, collect the coupon and hold it to maturity, market volatility is irrelevant; principal and interest are received according to a pre-determined schele.
But participants who buy and sell bonds before maturity are exposed to many risks, most importantly changes in interest rates. When interest rates increase, the value of existing bonds fall, since new issues pay a higher yield. Likewise, when interest rates decrease, the value of existing bonds rise, since new issues pay a lower yield. This is the fundamental concept of bond market volatility: changes in bond prices are inverse to changes in interest rates. Fluctuating interest rates are part of a country's monetary policy and bond market volatility is a response to expected monetary policy and economic changes.
Economists' views of economic indicators versus actual released data contribute to market volatility. A tight consensus is generally reflected in bond prices and there is little price movement in the market after the release of "in-line" data. If the economic release differs from the consensus view the market usually undergoes rapid price movement as participants interpret the data. Uncertainty (as measured by a wide consensus) generally brings more volatility before and after an economic release. Economic releases vary in importance and impact depending on where the economy is in the business cycle.
Bond investments
Investment companies allow indivial investors the ability to participate in the bond markets through bond funds, closed-end funds and unit-investment trusts. In 2006 total bond fund net inflows increased 97% from $30.8 billion in 2005 to $60.8 billion in 2006.[4] Exchange-traded funds (ETFs) are another alternative to trading or investing directly in a bond issue. These securities allow indivial investors the ability to overcome large initial and incremental trading sizes.
Bond indices
Main article: Bond market index
A number of bond indices exist for the purposes of managing portfolios and measuring performance, similar to the S&P 500 or Russell Indexes for stocks. The most common American benchmarks are the Lehman Aggregate, Citigroup BIG and Merrill Lynch Domestic Master. Most indices are parts of families of broader indices that can be used to measure global bond portfolios, or may be further subdivided by maturity and/or sector for managing specialized portfolios.'
See also
Bond
Government bond
Corporate bond
Bond market index
Interest rate risk
Primary market
Secondary market
Bond Valuation