英式商务英语【23Aug2022】附原文及实用单词短语

【今日单词】symposium/sɪmˈpəʊzɪəm/nouna conference or meeting to discuss a particular subject.-----------------------------原文如下：The day in the marketsby Ian Johnston (来自：The Financial Time 金融时报)What you need to know• Stocks and bond prices fall on expectations of higher interest rates• Pressure on UK debt ripples into other markets after upbeat retail sales data• Dollar strengthens and hits highest level against renminbi since 2020Stocks and bond markets dropped yesterday after upbeat UK retail sales data reinforced expectations that central banks will move swiftly to tighten monetary policy.Wall Street’s S&P 500 share index fell 1.3 per cent by late morning in New York. The Nasdaq Composite lost 2 per cent, putting the tech-heavy index on course to snap four weeks of rises.Across the Atlantic, the Stoxx Europe 600 fell 0.8 per cent.Those moves came after a report yesterday pointed to robust British consumer spending, two days after the release of stronger-than-expected UK inflation data.The figures added to fears that central banks will aggressively lifting borrowing costs globally.Traders were also looking towards next week when rate-setters will meet at Jackson Hole, Wyoming, for the Kansas City Federal Reserve’s annual economic symposium.The summit is often used as a platform for the US Federal Reserve, the world’s most influential central bank, to make big announcements on its policy stance.UK gilts came under pressure after the country’s retail sales data showed a month-on-month rise of 0.3 per cent in July, much better than expectations in a Reuters poll for a fall of 0.2 per cent.Those figures pushed UK short-term borrowing costs towards their biggest weekly rise in more than a decade, climbing 9 basis points to 2.54 per cent, up about half a percentage point since the end of last week. Ten-year gilt yields gained 11bp to 2.42 per cent.“Investors are betting . . . that the Bank of England is going full steam ahead on raising rates, given that recent data readings have underlined a level of resilience in the economy,” said Baylee Wakefield, a portfolio manager for Aviva Investors.Selling of UK debt rippled into other bond markets with the yield on Germany’s 10-year Bund rising 12bp to 1.23 per cent and Italy’s equivalent yield gaining 18bp to 3.34 per cent.The 10-year US Treasury yield — seen as a proxy for borrowing costs globally — climbed 10bp to 2.98 per cent.Meanwhile, the pound fell 1 per cent against the dollar to $1.18 while the US currency gained 0.7 per cent against a basket of six rivals.China’s renminbi also dropped to its lowest level since 2020 against the dollar as markets priced in higher global interest rates. 

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