Readers may have noticed the frequent references lately by some in the financial community to what alan greenspan recently called the " conundrum " the decline in interest rates of long - term bonds at a time of rising short - term interest rates 读者可能都有留意到近日金融界经常论及格林斯潘最近指出的谜题,即短期利率上升的同时,长期债券利率却下降。
But other things do not often remain equal . the external imbalance of the us , the interest rate conundrum , the weak relatively speaking economic performance of europe and japan , the prospects of change in the exchange rate regime of the renminbi and emerging problems of hedge funds will probably mean greater , rather than less , volatility in the flow of international capital 但现实世界中各种因素不会恒常不变:美国对外贸易失衡短期利率上升但长期债券利率下跌之谜欧洲及日本经济表现相对疲弱人民币汇率制度日后可能改变,以及对冲基金的问题渐现,势必使国际资金流向更为波动。