英式商务英语【26Aug2022】附原文及实用单词短语

【今日单词】mammoth /ˈmaməθ/adjectivehuge.mammoth housing market-----------------------------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• Expected rise in interest rates hits UK and EU government bonds• European gas benchmark up 15 per cent to a closing highShort-dated UK and eurozone government debt sold off yesterday as investors cranked up their expectations of how far central banks will raise interest rates to curb inflation.The yield on the UK’s two-year gilt, which is sensitive to changes in interest rate expectations, rose 0.19 percentage points to 2.86 per cent — reflecting a significant drop in the price. The 10-year gilt yield added 0.12 percentage points to 2.69 per cent.Those sharp moves came as pricing in money markets indicated investors were expecting the Bank of England to lift borrowing costs to almost 3 per cent by November, up from projections just a week ago of 2.6 per cent and a current base rate of 1.75 per cent. Data released last week showed UK inflation rose to a more than 40-year high in July.The UK Debt Management Office’s announcement on Tuesday that it will sell £1.5bn in short-term gilts today has added to the unease, said Antoine Bouvet, senior rates strategist at ING. The sale comes at a time when liquidity, or the ease of buying and selling bonds, has been worsening across European fixed-income markets both due to summer holidays and more economic uncertainty.Eurozone bond prices also dropped, with the yield on the two-year German Bund adding 0.08 percentage points to 0.90 per cent and Italy’s equivalent rising 0.05 percentage points to 1.93 per cent.Investors were yesterday expecting the European Central Bank to implement 1 percentage point of interest rate rises by October, from a current deposit rate of zero.A surge in natural gas prices in Europe and the UK is increasing concerns about inflation. The European gas benchmark rose 15 per cent to a new closing high of €300 per megawatt hour while the UK price advanced 13 per cent to £5.58 per therm. That compares with €200 and £3.49 respectively at the start of August.In equities, Wall Street’s S&P 500 was up 0.6 per cent by early afternoon in New York, after closing out a third consecutive day of losses on Tuesday. The tech-heavy Nasdaq Composite rose 1 per cent.Europe’s regional Stoxx 600 ticked up 0.2 per cent. In currencies, the euro was steady against the dollar at $0.996, while the greenback was steady against a basket of six other currencies.

There are no comments yet.

Please log in to write the first comment.