流动性

But China's relatively illiquid market is not driving the continuing turmoil.

然而，流动性相对较差的中国股市没有推动这一跌势继续发展。

Thus, we endow the definition of illiquid with more macro colors.

这样，我们对不流动性的定义就有更多宏观的色彩。

This is probably because investors have demanded a premium for owning an illiquid asset.

这可能是因为投资者都要求持有非流动性资产所要求的溢价。

But there is one part of bank balance sheets that deserves special attention: disclosures on holdings of illiquid assets.

但银行的资产负债表上有一项内容值得特别关注：对银行持有非流动性资产情况的披露。

Over these past weeks, we have continued to examine the relative benefits of purchasing illiquid mortgage-related assets.

在过去的这几周里，我们一直在考察购买流动性差的抵押贷款资产的相关益处。

Trading in all of these instruments is admittedly very illiquid, but the implication is hard to ignore.

出售这些公认的非流动性股票，但是其暗含的意思不能忽视。

These illiquid assets are choking off the flow of credit that is so vitally important to our economy.

流动性不足的资产阻塞了对美国经济生死攸关的信贷流动。

Or, to put it another way, they have borrowed in liquid form and invested the proceeds in illiquid assets.

或者，换一种方式，借入流动性资产，将得到的资金投入到非流动资产中。

As their assets become illiquid, market refuses to roll over their debts, which makes their collapse self-fulfilling.

由于他们的流动性不足，市场拒绝滚动他们的债务，这会导致他们自身的崩溃。

In their model, a bank invests deposits in a long-term illiquid asset.

在他们的模型中，一家银行投资于长期流动性不足的资产。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。