贴水

利率期限贴水与货币本位制度：欧洲国家的实证分析

Term Agio of Interest Rate and Monetary Standard : Analyzed through European Substantial Evidence

远期汇率也有买入价和卖出价，所以远期汇率的升水数或贴水数，也都有大小两个数。

Forward exchange rate also has buying cost and sell offer , so the premium of forward exchange rate is counted or agio is counted , also have volume two number .

这听起来似乎很有道理，但却不是真正的理由：把分析对象缩小到白人政治家，或年龄段较窄的人群，便可以得出一个类似于美丽贴水（beautypremium）的判断。

That sounds miserably plausible , but it is not driving the results : restricting analysis only to white politicians , or those in a narrower age band , produces similar estimates of a beauty premium .

尽管美国所发生的一切，外界的人依然要求更多的贴水。

Outside people are * demanding higher premiums , regardless of what 's happening in the U.

完全正确。外币的远期升水意味着本币的远期就是贴水。

Exactly . A forward premium on foreign currency means a forward discount on domestic currency .

从理论上说，这种贴现率代表着社会对现在消费的贴水。

Ideally , the discount rate represents the premium that the society puts on present consumption .

直接标出的汇率是按升水或贴水的点调整的即期汇率。

The outright rate is the spot rate adjusted by the points of discount or premium .

广告中的漂亮贴水效应

Beauty Effect In ADs

阿根廷国债的风险贴水在过去一个月中下降了超过百分之三。

The risk premium on Argentina 's bonds has fallen by more than three percentage points over the past month .

而在期货市场贴水的条件下，具有风险厌恶和失望厌恶特征的投资者应当采取的最优套期保值头寸高于满足均值&方差理论的投资者的最优持有头寸。

In a contango market , the optimal hedge position is larger than the optimal position of a mean & variance investor .

因此，人们在不同候选人之间进行的选择，或许更多是基于美丽贴水因素，而不是简单的歧视：漂亮的人可能确实具有更高的生产力。

So perhaps there is more to the beauty premium than simple discrimination : beautiful people could well be genuinely more productive .

在整个发达世界，企业债券收益率针对违约风险贴水的程度，似乎到了有违常理的地步。

All across the developed world , corporate bond yields appear to be discounting defaults on a scale that defies common sense .

一种货币在兑换另一种货币时，远期汇率有升水或贴水情况。

The forward rate of a currency is at a " premium " or at a " discount " in terms of another .

同时，如果经济出现改善，或者事实证明某些资产中的确存在流动性贴水，对亏损的估计将会低得多。

And if the economy improves or a liquidity discount does prove to exist in some assets , estimates for losses will be far smaller .

一个可能的解释就是，外汇投资者除了期望汇率变化产生的利润外，还希望得到风险贴水。

One possibility is that investors demand a risk premium , separate from the better interest rate , to compensate them for investing in a foreign currency .

风险厌恶或者失望厌恶程度的提高对最优套期保值头寸的影响方向是一致的，既在市场升水时增加头寸，在市场贴水时减少头寸。

Increasing risk aversion and disappointment aversion have similar effects on optimal hedge position : increasing it in a backward market and decreasing it in a contango market .

折价债券的市场价低于票面价值。如果股票的市价低于面值者，叫贴水。

The market value of a bond which is below its face value . If the share can be bought , it is said to be at a discount .

首先，即使即期汇率海浮动时，远期差额通常保持不变，报升水，或贴水而不是远期汇率，所需变动较少。

First , forward differentials very often remain unchanged even when the spot rates experience fluctuations , quoting premiums or discounts rather than the forward rates thus require fewer changes .

本文介绍一种方法，在不知道“标价方法”和“升水”或“贴水”的情况下，也可以计算远期汇率。

This paper introduces a method that even if we don 't know " quotation method " and " premium " or " discount ", we also can count forward rate .

赎回价格一般比股票的面值稍高。如果股票的市价低于面值者，叫贴水。

The call price is usually slightly higher than the par value of the stock . If the share can be bought , it is said to be at a discount .

在资本资产定价模型中，任何一项金融资产的收益都由无风险利率和市场风险贴水决定，经过风险调整后的超额收益具有不可预测性。

In the capital asset pricing model , any of the proceeds of financial assets are risk-free interest rate and market risk premium decision , after risk-adjusted gains over with unpredictability .

直接标价法下，远期汇率等于即期汇率加升水数或减贴水数。在间接标价法下，远期汇率等于即期汇率减升水数或加贴水数。

The forward rate is obtained by adding the premium to , or subtracting the discount from the spot rate the direct quotation method , or vice verse under the indirect quotation method .

即期交割的棉花价格较明年交割的棉花价格有大幅溢价即所谓的“远期贴水”，表明可用供给不足。

The price of cotton for immediate delivery is trading at a large premium to cotton for delivery next year a situation known as " backwardation " indicating a lack of available supplies .

如果远期汇率高于即期汇率，其差额叫做升水，如果远期汇率低于即期汇率，其差额叫做贴水。

If the forward rate is above the spot rate , the difference is called the premium , if the forward rate is below the spot rate , the difference is known as a discount .

结果表明，国际石油价格通常是由一个基准价格再加上升水或贴水构成，其中，基准价的确定通常是参考世界几大石油期货交易所的价格。

The result shows that the international oil price is made up of a marker crude oil price and a premium or a discount . The marker crude oil price always refers to the future prices in the biggest future exchange .

在业务上，远期汇率和远期汇价的报法也即期汇率不一样。其报法是用点灵敏表示即即期和远期的差额，即升水和贴水。

In professional business , forward rates or forward price are not quoted in the way as the spot rates . rather , they are quoted in forward differentials expressed in points , between spot and forward rates , i.e. , with premiums and discounts .

对英镑的额外要求，其结果是导致英镑的远期汇率增值，而在远期市场上，增加英镑换美元会导致英镑贴水，而美元升水。

And the consequent extra demand for pounds would cause the spot rate of pounds to appreciate , while the extra supply of pounds in the forward market in exchange for dollars may cause pounds to be at a discount and the dollars , at a premium .

不过，研究过程中依旧碰到不少问题，比如股票组合下单的即时性问题、股票组合的调仓频率以及如何把握股指期货贴水等都是值得进一步深究。

However , many problems still encountered in the course of the study , such as timeliness problem in order for stock portfolio warehouse transfer frequency of stock portfolio problem , and how to grasp the stock index futures premium , which are worthy of further study .