Paul Lachine

民主还是财政?

伦敦——

金融交易中“卖空”是一种非常常用的技巧,这种技巧的要义在于通过借款的方式与资产进行“赌注”,以期望资产贬值时能够获得收益。

投资者可以通过借款的方式买空政府在当前价格水平下发行的债券,希望能在以后能以较低的价位出售债券并赚取差价。例如,2010年1月1日,我突发奇想认为这一游戏很快将会在希腊上演,因而我去购买了面值为1000万欧元的希腊政府发行的2016年债券,这一债券当时的交易价为每张债券0.91欧元,交易在高盛银行进行了六个月。为此,我不得不向其支付从债券中获得的收益——几乎每年债券面值的5%,也就是说,六个月的期限内面值总额的2.5%或者25万欧元。

To continue reading, please log in or enter your email address.

To access our archive, please log in or register now and read two articles from our archive every month for free. For unlimited access to our archive, as well as to the unrivaled analysis of PS On Point, subscribe now.

required

By proceeding, you agree to our Terms of Service and Privacy Policy, which describes the personal data we collect and how we use it.

Log in

http://prosyn.org/vk47pWj/zh;

Cookies and Privacy

We use cookies to improve your experience on our website. To find out more, read our updated cookie policy and privacy policy.