什么是Real Return bond

1. 什么是Real Return bond

The coupon rate is the real rate, and thus takes inflation into consideration.

For example, an Real Return Bond(RBBs) with a coupon of 4% and priced at 100 will provide a real yield of 4% until maturity.  You bought $1000 of this bond.  Over the 10 yrs period, inflation had been 21.9%.

The principle would be valued at  $1000 X 1.219, and the final payment of principal and interest would be $1219 X 4%. 

Hope this help!

Chen
Laurentian University

2. 特许金融分析师考试Fixed income重点是什么？

固定收益在 CFA 一级的复习中难度仅次于财务分析，原因在于这一门课要求大家进行大量的记忆（债券产品介绍）还有概念的深度理解（各种产品的特性，还有就是利率风险），以及计算（久期和凸性，Z-spread, OAS，债券估值，还有就是远期利率），所以一级债券类产品的复习时建议大家多花一点时间进行研读，记忆的重点在于每种债券产品的性质比如一般的债券可以拆分为若干 N-1 期零息债券，还有就是 inverse rate bond 与利率的关系，政府债券的分类还有性质，还有就是 TIPS 和名义利率的关系等等。遇到计算，要注意理解，也不要去背公式，比如 Z spread 其实考察大家的就是利率曲线的平行移动，那么考试大家其实所需要计算的就是分母都加上一个 X，计算 X 就可以了，这样理解可以省去很多记忆的麻烦，还有就是计算远期利率了，这里的理解其实就是几何平均数的概念，把钱放在银行定期三年和不停的滚动存取其实是一样的，这样在计算的时候，我们就能在头脑里对公式有个大概的印象，而不需要对债权累估值公式进行死记硬背。

3. 利率作为real exchange rate的绝对因素

看的头大 飘过

4. cfa一级怎么看书

分享下高顿财经学员的一级考试总结，很受益。
Quantitative Methods：定量分析在一级里重要性不言而喻，在后续的科目学习里（Fixed 
income\Economics\Equity\ FSA\Derivatives）到处都能见到它的影子，这里要清楚CFA一级的
考试定位Understanding the basic concepts.也就是说这里我们只需要记忆一些基本的公式就
可以，一些很复杂的公式和算法，我们其实根本就不需要的，比如年金的贴现公式，还有
SKEW和Kurtosis的计算，二者的公式都比较复杂，但是考试题目只会问我们他们的特性和
用计算器进行计算，不可能会让我们在草稿纸上演算的，这也是CFA考试和一些国内较难的
财经考的区别，CFA考试其实考的是对概念的深度理解还有运用，而不是机械的记忆，所以
一级定量复习的重点我们要把握计算器的使用还有统计学和假设检验的T\Z\F分布的图形特
点还有概率计算的深度含义，里面需要记忆的公式不超过10个，但是考试会用一些长难句
把简单的概念复杂化，隐藏起基本概念，这里在考试的时候同学们常常忽略，这里为大家介
绍一个例子，比如遇到方差这个概念，公式其实很难，但是我们不需要记忆，我们首先要知
道只要计算器上面按(2ND).DATA(这里输入数据).stat就可以了，然后第二我们要知道方差
其实就是一个波动率的概念，那就是一串数据围绕中值的波动幅度，那么这里又会自然的联
想到中心极限定理，也就是方差围绕中值波动多大幅度，预测值能落在这个区间的概率，那
么这里又联想到绝对差，还有半方差等概念还有各自含义。也就是说道了复习后期，我们能
从一个最基本概念的理解，理解计算器的算法还有联想到和这个概念有关的其他的概念，并
且我们能知道这个概念为什么能衍生出这些概念，那么考试我们就不难了。 

Economics: CFA一级的经济学难点还是在于逻辑推理，虽然考试中会直接考察书里面的重要
结论，而且有时候问法还比较直接，但是这里大家千万不要进入一个误区，那就是我背了结
论就好了，因为我们考试的时候是考察CFA的10个科目，那么经济学作为里面的一个模块，
我们是否能记住里面的很多细节还有结论呢？这里显然也是需要大家对一些基本的经济学
图形推导进行记忆和理解的。尤其是宏观经济学的总供给还有总需求线，还有微观经济学里
面的成本收益法分析四类市场和市场行为分析，这里的结论很多，但是大家如果能对基本的
推到过程理解，那么结论自然我们自己可以得出。 


Financial Reporting Analysis: 财务报表分析这里其实大家只要把握住一个基本的线路就可以
了，首先就是理解每一项业务的基本处理方式，这里我们不需要记忆T账户的记录法，而是 只
需要记忆一项会计业务对资产负债和利润表有个大体的影响就够了，例如我新买一批存货，
我只要知道资产内部同加减，以后发出去的时候利润表的COGS会增加，再次就是我们需要
理解一项会计业务的处理在不同会计准则下会对指标产生怎么的影响，作为分析师，我们又
要怎么去处理优化这些影响，以上的步骤就是二级财务分析的具体思路了。还FRA在一级
的复习里属于难度最高的一门课，尤其是里面的income tax and Lease，这两章比较困难，对
于刚刚学习CFA的学员来说，看起来可能比较晦涩，这里大家在复习的时候要多注意理解，
千万不要去记忆一些指标的增减。 

Corporate Finance: 公司理财在CFA一级里所占比重不大，一级的公司理财所需要理解和记
忆的概念比较多，NPV和IRR 决策系统我们同样公式我们可以忽略，我们更需要理解的是
NPV profile，这个图非常的重要，因为毕竟里面涉及了很多有关概念还有知识点，公司理财
的复习策略是一定要和财务分析相结合，一级里的营运资本管理还有存货管理，应收账款管
理，复习到这里的时候，我们一定要结合财务（比率、每种资产的性质）进行复习，这样才
能有的放矢。 

Equity: CFA一级的权益类资产评估难度不高，关键在于背诵一些概念，权益这章在一级复习
里很简单，而且所占权重也不低，与经济学相比，背诵在这一章具有很高的本益比，背诵的
重点在于证券市场基本知识、产业分析那两个章节，后面的模型分析，其实也是重在对公式
的理解还有把握，计算题出得很简单，这里要说明的是，一级的权益类估值其实是二级的基
础，里面很多都是一个粗略框架的介绍，所以这里很多公式是不需要大家背诵的。 

Fixed income：固定收益在CFA一级的复习中难度仅次于财务分析，原因在于这一门课要求
大家进行大量的记忆（债券产品介绍）还有概念的深度理解（各种产品的特性，还有就是利
率风险），以及计算（久期和凸性，Z-spread, OAS，债券估值，还有就是远期利率），所以一
级债券类产品的复习时建议大家多花一点时间进行研读，记忆的重点在于每种债券产品的性
质比如一般的债券可以拆分为若干N-1期零息债券，还有就是inverse rate bond与利率的关
系，政府债券的分类还有性质，还有就是TIPS和名义利率的关系等等。遇到计算，要注意
理解，也不要去背公式，比如Z spread其实考察大家的就是利率曲线的平行移动，那么考试
大家其实所需要计算的就是分母都加上一个X，计算X就可以了，这样理解可以省去很多记
忆的麻烦，还有就是计算远期利率了，这里的理解其实就是几何平均数的概念，把钱放在银
行定期三年和不停的滚动存取其实是一样的，这样在计算的时候，我们就能在头脑里对公式
有个大概的印象，而不需要对债权累估值公式进行死记硬背。
 
Portfolio Management and derivatives: 证券组合管理和衍生品在一级的学习里所占比重不大，

这两章记忆性概念很少，都是需要深度理解公式的含义的。二者的复习重点是试着推导公式，
比如资产组合管理是怎么从马格维茨的均差分析法到后面的证券市场线，自己理出一个头绪，
衍生品交易中期权是如何定价的，上限和下限又是用什么逻辑关系推导出来的，每种套利平
价关系后面隐藏着什么样的交易步骤，自己推到一遍后，对于很多公式我们都不需要死记硬
背了。

5. 请教几个有关金融的专业术语英语怎么说

全给你好了，你可能以后会用到
澳大利亚币 AUSTRALIAN DOLLAR(AUD) 
保本保息准备 RESERVE FOR INTEREST & PRINCIPAL 
保兑银行 CONFIRMING BANK 
保付支票 CERTIFIED CHECKS 
保管品 PROPERITY UNDER CUSTODY 
保管有价证券 SECURITIES UNDER CUSTODY 
保留盈余 RETAIN EARNINGS 
保证金交易 MARGIN TRADINGS 
保证款项 GUARANTEE 
保证品 GUARANTEE EFFECTS 
保证责任准备 RESERVE FOR GUARANTEE REPAYMENT 
备抵呆帐 ALLOWANCE FOR BAD DEBTS 
备抵呆帐 ALLOWANCE FOR BAD DEBTS 
备抵损失 RESERVE FOR LOSS ON 
备抵折旧 ACCUMULATED DEPRECIATION 
本期损益 PROFIT OR LOSS-CURRENT  PERIOD 
本行支票 CASHIER'S CHECKS 
比利时法朗 BELGIAN FRANC(BEF) 
不动产投资 INVESTMENTS IN REAL ESTATE 
不动产投资损益 GAIN ON INVESTMENT-REAL ESTATE 
不可转让定存单 NON-NEGOTRABLE CERTIFICATE OF DEPOSIT 
差额准备 AREA ASSETS AND LIABILITIES 
拆放同业 CALL LOANS TO BANKS 
长期担保放款 LOGN-TERM LOANS SECURED 
长期放款 LONG-TERM LOANS 
敞口(头寸) POSITION 
承兑汇票 ACCEPTANCE DRAFTS 
承受担保品 PLEDGED PROPERTIES TAKE OVER 
承销有价证券 CONSIGNMENT SECURTIES 
初级(发行)市场 PRIMARY MARKET 
出口商 EXPORTER 
出口押汇 OUTWARD DOCUMENTARY BILLS 
催收款项 OVER-DUE LOANS 
存本取息储蓄存款 INTEREST DRAWING SAVINGS DEPOSITS 
存出保证金 GUARANTEE DEPOSITS 
存出典权 COLLATERAL FORECLOSED 
存放同业 DUE FROM BANKS 
存放央行 DUE FROM CENTRAL BANK 
存款不足 NOT SUFFICIENT FUND 
存款准备金 RESERVE REQUIREMENT 
存款利率 RATE ON DEPOSIT 
存入保证金 GUARANTEE DEPOSITS AND MARGINS RECEIVED 
存入典权 MORTGAGE FUNDS DEPOSITED IN 
次级(流通)市场 SECONDARY MARKET 
代理买入房地产 LAND AND BUILDING BOUGHT 
代理买入期证券 FORWARD SECURITIES BOUGHT FOR CUSTOMERS 
代理卖出房地产 BUILDING AND LAND SOLD FOR CUSTOMERS 
代理卖出期证券 COLLECTION FOR CUSTOMERS-FORWARD SECURITIES SOLD 
代理期付款项 COLLECTION FOR CUSTOMERS-CONTRACT PAYMENTS 
代理期收款项 ACCOUNTS RECEIVABLE UNDER FORWARD CONTRACTS FOR 
CUSTOMERS 
代理行 CORRESPONDENT BANK 
代售旅行支票 CONSIGNMENT TRAVELLERS' CHECKS 
待抵销追索债权 CONTRA ACCOUNT-CLAIMED DEBTS 
待交换票据 CHECKS FOR CLEARING 
待整理资负 RESERVE FOR VALUATION OF AFFECTED 
担保透支 OVERDRAFTS SECURED 
丹麦币 DANISH KRONE(DKK) 
电汇 TELEGRAPHIC TRANSFER(T/T) 
店头市场 OVER THE COUNTER(OTC) 
掉期交易 FOREIGN EXCHANGE SWAP 
递延收益 DEFERRED REVENUE 
定期存单 CERTIFICATE OF DEPOSIT 
定期存款 TIME DEPOSITS 
多头(买超) LONG POSITION 
短期担保放款 SHORT-TERM LOANS SECURED 
短期放款 SHORT-TERM LOANS 
兑换 EXCHANGE ACCOUNTS 
兑换损失准备 RESERVE FOR FOREIGN EXCHANGE LOSS 
兑换损益 GAIN ON EXCHANGE 
法定公积 LEGAL SURPLUS 
房屋及建筑 BUILDINGS AND STRUCTURES 
风险管理 RISK MANAGEMENT 
风险值 VALUE-AT-RISK 
分期付款 INSTALLMENT 
浮动利率存单 FLOATING RATE CD 
付款指令 PAYMENT ORDER 
个人贷款 PERSONAL LOAN 
杠杆效果 LEVERAGE EFFECT 
公开市场操作 OPEN MARKET OPERATIONS 
公开市场政策 OPEN MARKET POLICY 
公司债 CORPORATED BONDS 
共同基金 MUTUAL FUND 
固定资产增值公积 FIXED ASSETS APPRAISAL SURPLUS 
固定利率存单 FIXED RATE CD 
国库券 TREASURY BILLS 
国民生产毛额 GROSS NATRONAL PRODUCT 
海外共同基金 OVERSEAS MUTUAL FUND 
荷兰币 DUTCH GUIDER(NLG) 
划线支票 CROSS CHECKS 
汇出汇款 REMITTANCE AND DRAFTS ISSUED 
汇出汇款 OUTWARD REMITTANCE 
汇款人 REMITTER 
汇款银行 REMITTING BANK 
汇票 BILLS OF EXCHANGE 
汇入汇款 INWARD REMITTANCE 
活期储蓄存款 DEMAND SAVINGS DEPOSITS 
活期存款 DEMAND DEPOSITS 
货币交换 CURRENCY SWAPS(CS) 
货币利率交换 CROSS CURRENCY SWAPS(CCS) 
货币市场 MONEY MARKET 
基本汇率 BASIC RATE 
基本利率 PRIME RATE 
机械设备 MACHINERY EQUIPMENT 
即期汇率 SPOT RATE 
即期汇票 SIGHT DRAFT 
即期外汇交易 SPOT EXCHANGE TRANSACTION 
记名汇票 REGISTERED BILLS 
加币 CANADIAN COLLARS(CAD) 
交叉汇率 CROSS RATE 
交换交易 SWAPS 
交换期权 SWAPTIONS 
交通及运输设备 TRANSPORTATION AND COMMUNICATION EQUIPMENT 
交易标的资产 UNDERLYING ASSETS 
交易汇(价)差 SPREAD 
交易商 TRADER 
结汇 SETTLEMENT OF FOREIGN EXCHANGE 
金融市场 FINANCIAL MARKET 
金融债券 BANKING BONDS 
进口商 IMPORTER 
进口押汇 INWARD DOCUMENTRAY BILLS 
禁止背书转让 NOT NEGOTIABLE 
经纪商 BROKER 
净资产价值 NET ASSET VALUE 
捐赠公积 DONATION SURPLUS 
开办责 ORGANIZATION EXPENSES 
开证银行 ISSUING (OPENING) BANK 
库存外币 FOREIGN CURRENCY ON HAND 
库存现金 CASH ON HAND 
可转让定存单 NEGOTIABLE CERTIFICATE OF DEPOSIT 
空头(卖超) SHORT POSITION 
扣帐通知 DEBIT ADVICE 
追索债权 CLAIM DEBTS 
准备比率 RESERVE RATIO 
租赁权益 RENTAL UNDER LEASEHOLD 
资本 CAPITAL 
资本适足率 CAPITAL ADEQUACY RATIO(CAR) 
资本市场 CAPITAL MARKET 
资产负债表内交易 ON-BALANCE-SHEET 
资产负债表外交易 OFF-BALANCE-SHEET 
作业风险 OPERATIONAL RISK 
累积亏损 ACCUMULATED DEFICITS 
累积盈余 UNDIVIDED PROFITS 
利率交换 INTEREST RATE SWAP(IRS) 
利率期权 INTEREST RATE OPTIONS 
利率期权 INTEREST RATE OPTIONS 
利率上下限 COLLARS 
利率上限 CAPS 
利率下限 FLOORS 
利息收入 INTEREST RECEIVED 
联行往来 INTER-BRANCH ACCOUNTS 
零存整付储蓄存款 CLUB SAVINGS DEPOSITS 
流动性风险 LIQUIDITY RISK 
伦敦银行同业拆放利率 LONDON INTERBANK OFFERING RATE(LIBOR) 
履约价格 EXCERCISE PRICE 
马克 DEUTSCHE MARKS(DEM) 
买超 OVER BOUGHT 
买卖票券损益 GAIN ON TRADING BILLS AND SECURITIES 
买入承兑汇票 ACCEPTANCE PURCHASED 
买入定期存单 CERTIFICATE OF REPOSIT PURCHASED 
买入汇款 BILLS PURCHASED 
买入汇率 BUYING RATE 
买入期权 CALL OPTIONS 
买入期证券 FORWARD SECURITIES BOUGHT 
买入商业本票 COMMERCIAL PAPERS PURCHASED 
买入有价证券 SECURITIES PURCHASED 
买入远期外汇 FORWARD EXCHANGE BOUGHT 
卖超 OVER SOLD 
卖出汇率 SELLING RATE 
卖出期权 PUT OPTIONS 
卖出期证券 FORWARD SECURITIES SOLD 
卖出运期外汇 FORWARD EXCHANGE SOLD 
贸易汇票 TRADE BILLS 
美元 US DOLLARS(USD) 
名目利率 NOMINAL RATE OF INTEREST 
密押 TEST KEY 
年息 ANNUAL RATE 
内部往来 INTER-DEPARTMENTAL ACCOUNTS 
挪威币 NORWEGIAN KRONE(NOK) 
票汇 DEMAND DRAFT(D/D) 
平盘 SQUARE 
其他长期投资 OTHER LONG-TERM INVESTMENT 
其他递延费用 OTHER DEFERRED CHARGES 
其他设备 OTHER EQUIPMENT 
其他应付款 OTHER PAYABLES 
其他应收款 OTHER ACCOUNT RECEIVABLE 
其他预付款 OTHER PREPAYMENTS 
其他预收款 OTHER ACCOUNTS COLLECTED IN ADVANCE 
企业投资 INVESTMENT IN ENTERPRISE 
企业投资损益 GAIN ON INVESTMENT-ENTERPRISES 
期付款项 ACCOUNTS PAYABLE UNDER FORWARD CONTRACTS 
期货交易 FURTURES 
期满日 EXPIRATION DAY 
期权买方 HOLDER 
期权卖方 WRITER 
期收款项 ACCOUNTS RECEIVABLE UNDER FORWARD CONTRACTS 
前年度损益调整 PROFIT OR LOSS ADJUST ACCOUNT-PREVIOUS YEAR 
潜在风险 POTENTIAL RISK 
清偿银行 REIMBURSING BANK 
清算银行 CLEARING BANK 
权利金 PREMIUM 
入帐通知 CREDIT ADVICE 
瑞典币 SWEDISH KRONE(SEK) 
瑞士法朗 SWISS FRANC(CHF) 
日息(日拆) DAILY RATE 
日元 JAPANESE YEN(JPY) 
融通汇票 FINANCE BILLS 
商品标的物 UNDERLYING 
商品交换 COMMODITY SWAPS 
商业本票 COMMERCIAL PAPERS 
商业汇票 COMMERCIAL BILLS 
上期损益 PROFIT OR LOSS-PREVIOUS PERIOD 
实际利率 ACTUAL RATE OF INTEREST 
实质利率 REAL RATE OF INTEREST 
市场风险 MARKET RISK 
市场做成者 MARKET MAKER 
收款人 PAYEE 
收款银行 PAYING BANK 
收入公积 PAID-IN SURPLUS 
手续费收入 COMMISSION RECEIVED 
受托承销有价证券 SECURITIES CONSIGNMENT IN 
受托代放款 LIABILITIES ON JOINT LOANS 
受托代放款 LIABILITIES ON JOINT LOANS 
受托代收保险费 COLLECTION FOR CUSTOMERS INSURANCE PREMIUMS 
受托代收房地租 COLLECTION FOR CUSTOMERS-RENT 
受托代收款 COLLECTION PAYABLE FOR CUSTOMERS 
受托代收款 COLLECTIONS PAYABLE FOR CUSTOMERS 
受托代售旅行支票 TRAVELLERS'CHECKS CONSIGNMENT IN 
双重货币存款 DUAL-CURRENCY DEPOSITS 
套利 ARBITRAGE 
特别公积 SPECIAL SURPLUS 
贴现 BILLS DISCOUNTED 
通知银行 ADVISING BANK 
同业拆放 CALL LOANS FROM BANKS 
同业存款 DUE TO BANKS 
同业融资 FUND BORROWED FROM BANKS 
同业透支 BANK'S OVERDRAFTS 
透支 OVERDRAFTS 
透支同业 OVERDRAFT ON BANKS 
土地 LAND SITE FOR BUILDINGS 
外币定期存款 TIME DEPOSITS-FOREIGN CURRENCY 
外币活期存款 DEMAND DEPOSITS-FOREIGN CURRENCY 
外币期权 CURRENCY OPTIONS 
外汇避险 HEDGE 
外汇部位(头寸) FOREIGN EXCHANGE POSITION 
外汇定期存款 TIME DEPOSITS-FOREIGN EXCHANGE 
外汇管制 EXCHANGE RESTRICTION 
外汇活期存款 DEMAND DEPOSITS-FOREIGN EXCHANGE 
外汇交易中心 FOREIGN EXCHANGE CENTER 
外汇准备 FOREIGN EXCHANGE RESERVE 
外汇抛补 COVER 
外汇市场 FOREIGN EXCHANGE MARKET 
外汇投机客 SPECULATOR 
外汇银行 FOREIGN EXCHANGE BANK 
退票 RETURN CHECK 
托办往来 TRUST ACCOUNTS UNDER CONTRACTS 
未收资本 SUBSCRIBED CAPITAL RECEIVABLE 
未摊销投资溢价 UNAMORTIZED PREMIUM 
未摊销投资折价 UNAMORTIZED DISCOUNT 
西班牙币 SPANISH PESETA(ESP) 
无记名汇票 BEARER BILLS 
销帐 ACCOUNT RECOCILEMENT 
消费性贷款 CONSUMPTION LOANS 
新加坡银行同业拆放利率 SINGAPORE INTERBANK OFFERING 
RATE(SIBOR) 
信汇 MAIL TRANSFER(M/T) 
信托资产 TRUST ASSETS 
信用风险 CREDIT RISK 
信用状款项 LETTERS OF CREDIT 
信用状申请人 APPLICANT 
信用状受益人 BENEFICIARY 
信用证 LETTER OF CREDIT(L/C) 
行员定期储蓄存款 STAFF TIME SAVINGS REPOSITS 
行员活期储蓄存款 STAFF DEMAND SAVINGS DEPOSITS 
押汇银行 NEGOTIATING BANK 
央行存款 DUE TO CENTRAL BANK 
央行放款转融资 LOANS TRANSFERRED TO CENTERAL BANK 
央行其他融资 FUNDS BORROWED FROM CENTRAL BANK-OTHERS 
央行贴现转融资 BILLS REDISCOUNTED WITH CENTRAL BANK 
衍生金融产品 DERIVATIVES 
意大利里拉 ITALIAN LIRA(ITL) 
意外损失准备 RESERVE FOR CONTINGENCIES 
银行承兑汇票 BANKERS' ACCEPTANCE DRAFTS 
银行费用 BANKING CHARGES 
银行公会 BANKER'S ASSOCIATION 
银行汇票 BANKERS' BILLS 
英镑 BRITISH POUND(GBP) 
应(未)收代收款 COLLECTION RECEIVABLE FOR CUSTOMERS 
应付保管有价证券 SECURITIES UNDER CUSTODY FOR CUSTOMERS PAYABLE 
应付代收款 ACCOUNTS PAYABLE COLLECTED FOR CUSTOMERS 
应付费用 EXPENSES ACCRUED 
应付股利 DIVIDERDS PAYABLE 
应付利息 ACCRUED INTEREST PAYABLE 
应付票据 NOTES PAYABLE 
应付所得税 ACCRUED INCOME TAX PAYABLE 
应付帐款 ACCOUNTS PAYABLE 
应解汇款 REMITTANCE OUTSTANDING 
应收保证款项 CUSTOMERS' LIABILITIES UNDER GUARANTEES 
应收承兑票款 CUSTOMERS' LIABILITIES UNDER ACCEPTANCE 
应收代放款 JOINT LOANS 
应收代收保险费 INSURANCE PREMIUM RECEIVABLE FOR CUSTOMERS 
应收代收房租 RENT RECEIVABLE FOR CUSTOMERS 
应收利息 ACCRUED INTEREST 
应收票据 NOTES RECEIVABLE 
应收收益 INCOME RECEIVABLE 
应收信用状款项 CUSTOMERS' LIABILITIES UNDER LETTERS OF CREDIT 
应收帐款 ACCOUNTS RECEIVABLE 
盈亏拨补 PROFIT OR LOSS APPROPRIATION 
有权签章人 AUTHORIZED SIGNATURE 
预付出口结汇款 ADVANCE SURRENDER OF EXPORT EXCHANGE 
预付费用 PREPAID EXPENSES 
预付股利 PREPAID DIVIDEND 
预付利息 PREPAID INTEREST 
预付所得税 PREPAID INCOME TAX 
预收资本 CAPITAL RECEIVED IN ADVANCE 
预收利息 INTEREST COLLECTED IN ADVANCE 
预收收益 INCOME COLLECTED IN ADVANCE 
预算赤字 BUDGET DEFICIT 
员工退休金准备 RESERVE FOR STAFF RETIREMENT 
远期汇率 FORWARD RATE 
远期外汇交易 FORWARD EXCHANGE TRANSACTION 
月息 MONTHLY RATE 
运期汇票 USANCE DRAFT 
运期交易 FORWARDS 
运期利率协议 FORWARD RATE AGKEEMENT(FRA) 
运送中现金 CASH IN TRANSIT 
在建工程 CONSTRUCTION WORK IN PROGRESS 
暂付款项 CLEARING ACCOUNT 
暂收款项 CLEANING ACCOUNT 
债券 BONDS 
债券发行费用 BOND ISSUANCE EXPENSES 
债券溢价 BOND PREMIUM 
债券折价 DISCOUNT ON BONDS 
展期定存单 ROLLOVER CD 
帐户行 DEPOSITORY BANK 
整存零付储蓄存款 ANNUITY SAVINGS DEPOSITS 
整存整付储蓄存款 TIME SAVINGS DEPOSITS 
证券经纪收入 INCOME FROM BROKER'S OPERATIONS 
证券投资 INVESTMENTS IN SECURITIES 
芝加哥期权交易所 CHICAGO BOARD OPTIONS EXCHANGE(CBOE) 
支票存款 CHECKING ACCOUNTS 
执行价格 STRIKE PRICE 
质借 HYPOTHECATION 
中期担保放款 MEDIUM-TERM LOANS SECURED 
中期放款 MEDIUM-TERM LOANS 
中心汇率 CENTRAL RATE 
主合同 MASTER CONTRACT 
重贴现率 RE-DISCOUNT RATE 
重置成本 REPLACEMENT COST 
周转金 PETTY CASH

6. Long Bond是什么意思？

　　Long Bond可直译为“长期债券”.
　　long bond
　　[英][lɔŋ bɔnd][美][lɔŋ bɑnd]
　　长期债券，远期债券;
　　例句：
　　1、Many companies and fund managers had planned around the long bond. Its absence prompted them to look for substitutes, such as mortgage-backed securities.
　　许多企业和基金管理公司都是围绕长期债券进行规划的，长期债券的缺失促使他们寻找替代品，譬如抵押贷款支持证券。
　　2、The bond markets are clearly looking for a real long term solution to the euro question, but eurozone leaders are slow in getting there.
　　债券市场当然是在寻找一个解决欧元问题的长期有效方案，但欧元区领导人在这个问题上行动迟缓。
　　3、Another string of consequences still unfolding came from the decision by the US Treasury to stop borrowing over 30-year terms ( in other words, stop issuing the 30-year “ long bond ”).
　　另外一系列正在呈现之中的后果，来自美国财政部决定停止超过30年期的借贷（换言之，停止发行30年期长期债券）。

7. 跪求在线英语翻译

Bank of the landlord to find people talking, then go back. 
In two days the landlord to loan-to-end, buy, every family has had to go back. 
Sato a bank, the wrong child, in case of "short trip to the world that" this guy is not really the time to be on loan Zezheng ah? Would be in trouble! 
That is to say, I put the loan at risk ah! 
I can not risk their commitment ah, I would like to pass out and blame everyone back together. 
How this shift? Who is so stupid ah? 
Do not worry, there are trick! 
我把这些贷款打包卖出去，也就是加工一下，弄个包装，做得好看些，卖给别人。 
(Of course, to a certain extent, is also made for liquidity needs, out of the net loans, liquidity brought ah.) 
How does the loan package? 
I made the bank debt. 
We know that the bonds have a general 
1, compared with an excellent guarantee to do business entities. 
2, so to ensure a high level of credibility. 
This means that ... ... ah, for example, China Mobile issued bonds with the aim of financing. (I KAO, and out of term finance, said the popular point is to borrow money to operate.) Mobile company that issued your bond buying it? You must buy! Mobile year profit of more than amazing ah, you have to buy his bonds, interest and dividends and more sure ah. ---- This is a good business to do to ensure that the entity. Such bonds are, for example, China has made over the Three Gorges Project bonds, also Finance, you buying? Hey, so good you can not buy the bonds. Are a package of large companies. 
There is a high level of credibility as a guarantee, such as treasury bills and bonds are called. Does not directly point to the operating entity, and take this country do not know what the money went, the better you do not need fine control. But you buy a bond that you do not worry ah, the country has the credibility to do to ensure this! 

In general, a bond to sell at least two points in line with the above, or have two points. First, a good enterprise projects, and the other is talk about credibility. 

In that case, the landlord to "light the world trip," the bank loans to bonds sold to you? This means that more than two points out of it? 
The bank will be very packed, and got some financial market experts (Oh! You see the word experts did not know a good thing.) Loan to whitewash. 
The landlord to "short line of the world" were not very good credit (Ha ha), less money, perhaps not the repayment. So that the lender called "sub-credit" referred to as "sub-loan" 
Financial experts had begun to get. You have to say good operating entity, that's right, ah, our bank over the years how to operate? Drop is to make money! Very good drop! And come up with a lot of historical data to prove that. Although the data will not be false, but he put a hidden danger. Data is hidden, you see, we let the banks of these years, is "the world is short line" that the loan-to-person, but you look at historical data, we do not trip over ah loss (we all forget that a ---- Premise is estimated that the two rooms is deliberately forgotten the premise of what ---- it? Bank loans over the years to make money on the premise that U.S. economic prosperity, low unemployment rate, the hot real estate price rally, interest rates are low . Do not forget, take turns to feng shui, sooner or later, Chu Laihun is to also drop!). Even if he does not repay, I just sold a house to recover the money ah! Good, a very good. 
You say that the high level of credibility, a joke, we do not Shashi Hou bank credibility, it is the credibility of the steel steel! 
The OK! 

What are the financiers do this thing does? There are specialized companies. For example, Fannie Mae, Freddie Mac two devil! "Housing loan securitization of the operating agency." 

Well, everything is available, we bought Come ah, we issued the bonds. 
! ! ! ! ! ! It is called "secondary mortgage loan debt!" ! ! ! ! ! ! 
Good bond ah, ah, some money. 
So fund companies, insurance companies, foreign institutional investors), we have to buy. 
Joke, this is the United States issued bonds ah, ah the United States, Niu A, to make sure of. 
As a result, the whole world to buy

翻译很累的，悬赏是少了点

8. 汉译英 不要软件翻译 人工翻译 好的加分！！急

This fund fourth quarter has obtained 1.22% growths, runs wins the achievement datum, simultaneously the fund investment profolio also has the elasticity, was in 2006 hits the openning. Fourth quarter this fund enhances the stock shipping space gradually below 1100 the disposition, in the finance, the real estate, the petrification, the mechanical device profession exceeds the quota with emphasis the disposition, simultaneously the fund foresightedness is good in these professions and a correlation stock, has provided the big contribution for the fund.  
This fund in a future quarter, will continue to maintain the high stock shipping space, will favor the profession will still be the finance, the real estate, the petrification, the mechanical device, will worsen to the booming condition the profession like steel and iron and so on to continue gradually to maintain the low disposition. In the stock choice, in continues to take the company core competitive ability and in the estimate value analysis foundation, even more will emphasize the investment profolio the combative nature. The estimate value will have the international competitive power company still will be this fund investment key point, simultaneously the property value serious underestimate, had the very high purchase value company also is this fund key attention direction.  
The fixed income aspect, considered the interest rate risk, this fund bond combination maintains the low end secular, by has 1-2 year time bond primarily, creates the bond combination the performance weakly in on card national debt index increase scope. Regarding the next year macroscopic financial circumstance, we believed that, the overall still maintained the stable growth the situation, the deflation situation is very difficult to reappear. Although periphery the country all enters the interest on futures cycle, but the consideration Renminbi revaluation factor, the interest rate enhances the possibility is not big, but at present market rate truly too is low, the bond market walks cow's opportunity not to be big once more.(兄弟你把我累死了，翻译这么多，你自己看吧，我要睡了，累死我了，翻译了将近2个小时）