国债拍卖

投资者在一场美国国债拍卖会上接受了史上最低的10年期国债收益率，稍后，美联储（Fed）公布的会议记录显示，美联储倾向于更多的货币宽松。

Investors accepted the lowest yields ever for 10-year paper in a US Treasury auction shortly before the release of Federal Reserve minutes showing a bias towards more monetary easing .

此次美国国债拍卖的需求规模让华尔街经纪商震惊，资产管理者等投资者的购买量达到创纪录水平，外国央行选择直接从纽约联邦储备银行（FederalReserveBankofNewYork）购买10年期国债。

Wall Street dealers were stunned by the scale of demand in the Treasury auction , with record buying by investors such as money managers and foreign central banks electing to purchase the 10-year note directly from the Federal Reserve Bank of New York .

欧洲央行（ECB）昨日表示，欧元区已出现经济企稳的初步迹象。同时西班牙和意大利国债拍卖成功，也说明欧债危机至少得到暂时缓解。

The European Central Bank said yesterday that there were tentative signs of economic stabilisation in the eurozone as successful Spanish and Italian government bond auctions also pointed to at least a temporary easing of the debt crisis .

WrightsonIcap表示：上半月的份额数据显示，美国国内投资基金是三年期、十年期以及三十年期国债拍卖中的主要买家。

The allotment figures for the first half of the month showed that domestic investment funds were the dominant buyers in the three , 10 and 30-year auctions , said Wrightson Icap .

此次德国国债拍卖也许给柏林方面敲响了警钟。

The Bund auction may have been a wake-up call to Berlin .

所罗门不能代表客户参与美国国债拍卖。

Salomon could not bid in Treasury auctions for customers .

你们难道没有看到昨天国债拍卖的糟糕结果吗？

Didn 't you see the lousy results of yesterday 's Treasury auctions ?

同时进行的15年期国债拍卖创下有史以来的最高利率纪录。

A simultaneous auction of 15-year debt was the most expensive on record .

国债拍卖发行方式的研究

The Study of Government Bonds Auction Issue Method

据报道，这是德国国债拍卖首次出现负收益率。

This is reportedly the first time yields turned negative at a German debt auction .

然而，夸大一场德国国债拍卖的潜在影响是不对的。

Yet it would be wrong to overstate the implications of a single Bund auction .

经济学家表示，英国国债拍卖暂停可能引起严重的连锁反应。

The absence of new gilts auctions may have a serious knock-on effect , economists said .

第三部分通过分析美国国债拍卖发行的典型经验，得出我国可以借鉴国债拍卖方式的方法及需要完善的几个主要环节；

The third part analyst the American experience as model , obtain we can use the method for reference .

分析师还告诫称，不要对意大利此次国债拍卖以及圣诞节前西班牙国债的成功拍卖进行过多的解读。

Analysts also cautioned against reading too much into the Italian sale and a successful Spanish auction before Christmas .

在上周的一次10年期国债拍卖中，美国国债收益率一度升至3.99%的年内最高水平。

At one 10-year auction this week , Treasury yields rose to 3.99 per cent , their highest this year .

不错，意大利借贷成本在周三的国债拍卖中大幅下降，但这只是6个月期的债券。

True , its borrowing cost fell substantially at an auction on Wednesday . But that was for six-month money .

上周一的国债拍卖中，德国售出了49.6亿美元的6个月国债，平均收益率为-0.0122%。

In an auction Monday , Germany sold $ 4.96 billion of six-month bills with an average yield of negative 0.0122 % .

受到密切关注的西班牙和法国国债拍卖给出了借债成本下降的结果，令市场长出了一口气。

There was much relief in the markets that borrowing costs fell at closely watched auctions of Spanish and French government bonds .

重新向市场注入无限量的长期资金，甚至可能对银行参加国债拍卖的意愿产生轻微影响。

The return of unlimited long-term money might even have a marginal impact on banks ' willingness to take part in government debt auctions .

过去已有相当多的文献讨论国债拍卖，米勒和弗雷德曼认为统一价格比歧视价格拍卖有比较优势。

There have been many literatures of the relative merits of selling government bonds using a uniform-price auction rather than the traditional discriminatory-price auction .

本周一，来自美国财政部的所谓份额数据显示，美国国内基金经理在10月中旬举行的国债拍卖中所认购的份额有所上升。

On Monday , so-called allotment data from the Treasury revealed domestic fund managers had bought a larger share of bond auctions held in mid-October .

这两人都认识到，他们再也不能只是简单地宣布进行国债拍卖，然后坐等国内外投资者前来购买。

Both men realise they can no longer simply announce a government bond auction and rely on domestic and international investors to buy their securities .

如今，种种花招均宣告失败，欧洲濒临崩溃的边缘连德国自己也遭遇了国债拍卖遇冷的尴尬。

But now these tricks have uniformly failed , and the continent approaches the abyss with Germany itself suffering the humiliation of a failed bond auction .

今天交易商将迎来370亿美元的3年期国债拍卖；周四将有150亿美元的30年期国债发售。

Traders face the auction of $ 37bn in three-year notes today and $ 15bn of 30-year bonds complete this week 's debt sales on Thursday .

德国国债拍卖遭遇需求疲弱，或许有种种技术解释，但它从一个角度反映出，投资者对涉及欧元区的任何资产都越来越反感。

Weak demand in a German debt auction may have had technical explanations but it hinted at rising investor aversion towards anything to do with the eurozone .

财政部几分钟之后将宣布，禁止所罗门参与美国国债拍卖的竞价，客户账户和自营账户竞价将同时被禁。

It was going to announce in a few minutes that Salomon was barred from bidding at Treasury bond auctions , both for customers and for its own account .

西班牙、法国和意大利债券市场周四大幅上涨，此前相关国家成功进行了国债拍卖，而且本周早些时候各国央行采取的协调行动降低了全球美元流动性的成本。

Bond markets in Spain , France and Italy rallied sharply on Thursday after successful auctions and co-ordinated central bank action earlier this week cut the global cost of dollar liquidity .

与此同时，美国420亿美元国债拍卖时市场反应糟糕，表明市场已很难消化各国政府为填补财政赤字而必须出售的债券数额。

Meanwhile , a poorly received $ 42bn auction of Treasuries in the US suggested markets were struggling to absorb the amount of bonds governments must sell to plug fiscal deficits .

随着德国国债拍卖遭遇引人注目的失败以及西班牙和意大利短期国债利率出现令人担忧的上升，欧元区各国国债市场已停止运转。

With the spectacular flop of the German bond auction and the alarming rise in short-term rates in Spain and Italy , the government bond market across the eurozone has ceased to function .

然而，这种绕开初级交易商的做法，会使交易商更难以判断拍卖需求有多大。如果这种趋势持续下去，很可能导致国债拍卖的波动更大。

Bypassing the primary dealer network , however , makes the dealer 's task of gauging demand for an auction much more difficult and could well lead to more volatile debt sales if the trend continues .