债市大地震！《华尔街日报》重磅警告：债券收益率飙升，你的投资
字幕摘录
| 时间 | 英文 | 中文 |
|---|---|---|
| 0:00 | The global bond market has gone through a massive change recently. | 全球债券市场最近发生了巨大变化。 |
| 0:03 | We've seen the yield on the 10-year U.S. Treasury note surge above 5% to levels we | 我们看到美国国库10年纸币的收益率 激增到5%以上 |
| 0:08 | haven't seen in more than two decades. | 二十多年没见了 |
| 0:10 | You might be wondering, if bond yields are soaring, | 你可能会想,如果债券收益飞涨, |
| 0:12 | then why is my portfolio balance shrinking? | 那为什么我的投资余额会减少? |
| 0:15 | Let's get into the math. | 让我们进入数学。 |
| 0:17 | Let's say that you buy a $100 bond. | 不如说你买了100元的债券 |
| 0:19 | That means that you get your $100 principal back at a future | 那意味着你将来可以拿回你的100元本金 |
| 0:22 | date, plus a fixed annual interest rate along the way. | 日期,加上沿途固定年利率. |
| 0:25 | Now imagine the market shifts. | 现在想象一下市场的变化。 |
展开字幕全文（43 条）
| 序号 | 英文 | 中文 |
|---|---|---|
| 1 | The global bond market has gone through a massive change recently. | 全球债券市场最近发生了巨大变化。 |
| 2 | We've seen the yield on the 10-year U.S. Treasury note surge above 5% to levels we | 我们看到美国国库10年纸币的收益率 激增到5%以上 |
| 3 | haven't seen in more than two decades. | 二十多年没见了 |
| 4 | You might be wondering, if bond yields are soaring, | 你可能会想,如果债券收益飞涨, |
| 5 | then why is my portfolio balance shrinking? | 那为什么我的投资余额会减少? |
| 6 | Let's get into the math. | 让我们进入数学。 |
| 7 | Let's say that you buy a $100 bond. | 不如说你买了100元的债券 |
| 8 | That means that you get your $100 principal back at a future | 那意味着你将来可以拿回你的100元本金 |
| 9 | date, plus a fixed annual interest rate along the way. | 日期,加上沿途固定年利率. |
| 10 | Now imagine the market shifts. | 现在想象一下市场的变化。 |
| 11 | Investors | 投资者 |
| 12 | start thinking that the Federal Reserve will raise short-term rates, and that new bonds will | 开始认为美联储会提高短期利率 新的债券会 |
| 13 | offer 5% interest rates. | 提供5%的利率。 |
| 14 | You try to sell your bond, but you can't at full price, | 你试图出售你的债券, 但你不能全价, |
| 15 | because people are expecting those new bonds with juicier rates. | 因为人们期望这些新的债券 与审判员利率。 |
| 16 | To be competitive, | 为了有竞争力 |
| 17 | you have to sell your bond for $92. | 你要卖你92美元的保证金 |
| 18 | Now the person who has bought that bond from you will get more | 现在从你那里买到债券的人会得到更多 |
| 19 | than $4 in interest every year. | 每年利息超过4美元。 |
| 20 | They'll also get 8 extra dollars by holding the bond to maturity. | 他们也会通过持有债券到到期获得8美元的额外金额. |
| 21 | The yield of the bond has gone up. | 债券的收益率上升了。 |
| 22 | As we at The Journal are constantly writing, | 正如我们在《日刊》上经常写的那样, |
| 23 | bond yields rise when their prices fall. | 当债券价格下跌时,债券收益率就会上升。 |
| 24 | There's no way around it. | 无边法界. |
| 25 | Rising yields can spell losses | 产量的上升可能意味着损失 |
| 26 | for bond portfolios, even if you're only holding U.S. Treasuries, which face almost no risk of | 对于债券投资组合,即使你只持有美国国库,这几乎没有风险 |
| 27 | default. | 默认。 |
| 28 | But there is some good news. | 但有一些好消息。 |
| 29 | If you own individual bonds yourself, rather than invest in | 如果你拥有个人债券 而不是投资 |
| 30 | a bond fund, you can keep holding those bonds and collecting the interest payments, and then | 债券基金,你可以继续持有这些债券并收取利息,然后 |
| 31 | you'll get your full principal back at maturity. | 等你长大了,你就能恢复你的校长了 |
| 32 | The only losses you'll face are paper losses. | 你将面临的唯一损失是纸上的损失。 |
| 33 | Also, those bonds that you bought in the past might be falling in price, but you can be a buyer | 还有,你过去买的那些债券 可能会跌价 但你可以做买家 |
| 34 | yourself. | 你自己来 |
| 35 | You can go out and buy older bonds that are trading at a discount, or you can buy new bonds | 你可以出去买旧的债券 以折扣交易 或者买新债券 |
| 36 | that pay a higher interest rate. | 支付更高的利率。 |
| 37 | Either way, you'll be capturing those higher yields. | 无论哪种方式,你都会捕捉到这些更高的产量。 |
| 38 | Once bond prices | 一旦债券价格 |
| 39 | stabilize, you can sit back and enjoy those higher yields. | 稳定,你可以坐下来享受这些更高的产量。 |
| 40 | And if the Fed starts cutting interest | 如果美联储开始削减利息 |
| 41 | rates, the whole process will work in reverse. | 利率,整个过程将逆向运行。 |
| 42 | Bond prices will start to rise, giving you a chance | 债券价格会开始上涨 给你一个机会 |
| 43 | to sell your bond for a profit, to sell your bond for a profit, to sell your bond for a profit, | 出售你的债券以换取利润 出售你的债券以换取利润 |
该视频共有字幕 43 条。解锁更多字幕为会员功能，请移动到 价格