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The basis is right stock market IPO, add hair is new, match, and company debt, debenture, can turn the statistic that the bond such as bill of certificate of debt, short-term financing, metaphase distributes a case, amount of financing of city of the stock market, debt was seventy-eight billion seven hundred and ninety-seven million yuan October this year, relatively reduced about 21.8 billion yuan September, annulus comparing is decreased achieve 21.7%.

根据对股票市场IPO、增发新股、配股,以及企业债、公司债、可转债、短期融资券、中期票据等债券发行情况的统计,今年10月份股市、债市融资总额为787.97亿元,较9月份减少约218亿元,环比减幅达到21.7%。

Outstanding performance bond funds performed better, with only one drop of the Fund, the net value of the overall fund rose 0.91 percent, with net debt-fund performance Better than bond-type funds.

债券基金表现出色表现较好的只有一个基金,整体基金净值下跌,上涨了百分之0.91的净债务与基金业绩更好,比债券型基金。

He pointed out that domestic and international experience shows that the bond market, bond credit rating in the bond investment is a very important concern, the Dongwu letter sound excellent selection of bond funds in the selection of high credit debt, set a higher threshold level of investment credit, In order to prevent the growing risk of a credit voucher to ensure that low-risk characteristics of the Fund.

他指出,国内和国际的经验表明,债券市场,债券在债券投资信用评级是一个非常重要的关注,东吴信健全的高信用债券的选择优秀的债券基金的选择,提出了更高的门槛水平投资信贷,为了防止信用凭证越来越大的风险,以确保低基金的风险特征。

In the past two months in the limelight most of the strong bond funds in the bond market continued to rise last week, the index record high national debt, the net increase last week was obviously biased stock funds lead.

在过去两年中引人注目个月的最强有力的债券基金在债券市场继续上涨,上周,该指数创新高的国家债务,净增长上周明显偏向股票基金领先。

The third quarter of continued growth in the bond market, bond fund net benefit most, the growth rate significantly higher than the net-debt funds, of which two-CITIC Fund net profit growth of up to 6.08 percent, and increased profits to pay the Bank AB , Silver cross by Lee C, strong debt amounted to A, B, GF Strong growth in net debt funds, and so are more than 3%.

在债券市场的持续增长,第三季度,债券型基金的净受益最多,增长速度明显高于净债务资金,其中两个高,中信基金的净盈利增长高达百分之6.08,增加利润支付银行抗体,李银C交叉,强大的债务总额为甲,乙,绿,净债务基金的强劲增长,因此超过3%。

Convertible bond is a special form of corporation debt securities. It has both characteristic of bond and option.

可转换债券是一种公司债券,兼具了债券和股票的双重特征。

As for corporate bonds in the highest yielding 08 new Lake debt (122,009 quotes, data), after-tax yield to maturity fell to 5.36 percent has also been taking into account the unsecured debt, the risk premium rate is too low, is not worth investing in . Secondly, the future of the bond market faces the risk of major expansion, it will suppress the formation of bond prices.

至于公司债券的收益最高的08新湖债(122009行情,资料),税后到期收益率下降至5.36百分之也考虑到抵押债务的风险溢价率太低,是不值得投资英寸其次,债券市场的未来面临着大发展的风险,它会抑制债券价格的形成。

This research used option-based structural model: Merton Model and the Implied Volatility Model which visualized an option on the firm's equity that expired before the debt mature was a compound option and was proposed by Hull, Nelken and White in 2004. Then compare the fitting and ranking ability in the model implied credit spread of the two structural model to the observed bond credit spread between corporate bond yield and bond yield in Taiwan's listed companies.

本研究运用选择权基础的信用风险模型:Merton(1974)模型与Hull, Nelken and White(2004)提出将个股选择权视为复合选择权的Implied Volatility模型,比较这两个结构式信用风险模型所计算出的隐含信用利差对台湾上市、柜公司之公司债殖利率与公债殖利率间实际的信用利差之配适能力与排序能力。

At present a country release of currency into circulation's channel mainly has:1st, the Central Bank buys the bank note issuing stock gol; 2nd, Central Bank purchases the reserve foreign exchange; 3rd, Central Bank purchases the national debt or gives the government to overdraw; 4th, Central Bank to each kind of Loan company provide loan, or buys up the national debt which, the Central Bank bill, the financial bond the Loan company has and so on, and provides the loan through the Loan company to the society; 5th, after Loan company deposit taking, besides deposits the Central Bank certain proportion the guaranty money for deposits or maintains certain deposit deposit, provides the loan to the society, and forms the loan delivery the multiplier effect; 6th, outside Central Bank's each kind of bank purchase national debt, enterprise bond as well as foreign exchange and so on.

目前一国货币投放的渠道主要有:1、中央银行购入发钞储备黄金;2、央行购买储备外汇;3、央行购买国债或给予政府透支;4、央行向各类贷款银行发放贷款,或者买入贷款银行持有的国债、央行票据、金融债券等,并通过贷款银行向社会发放贷款;5、贷款银行吸收存款后,除交存央行一定比例的存款保证金或保持一定的备付金存款外,向社会发放贷款,并形成贷款投放的乘数效应;6、央行外的各类银行购买国债、企业债券以及外汇等。

The Analysis of the Size of the Bond Market: According to the experience of foreign bond market development, bond market is a critical source of capital for economic development, and globalization is the inevitable tendency for bond market development, and debt risk must be taken care of when the size of the bond market is expanding.

关于债券市场总量问题。从国外债券市场发展经验来看,债券市场是经济发展中的重要资金来源渠道,国际化是债券市场发展的必然趋势,在发展债券市场的同时应该谨防债务风险。

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