金融专业英语

foreign exchange(FX)market外汇交易市场 Bretton Woods system布雷顿森林体系 economic condition经济形势 financial institution金融机构 spot transaction即期外汇交易 exchange rate汇率 market parlance市场用语 strengthening坚挺

export volume出口量 interest rate differential利率差额 real interest rates实际利率 financial policy金融

trading desk交易室 Exchange Stabilization Fund外汇平准基金 spot exchange transaction即期汇率市场derivative transaction金融衍生工具交易

open market transactions公开市场交易 unbiased forward rate theory无偏差远期汇率理论 LIFFE伦敦国际金融期货期权交易所 SIMEX新加坡国际货币期货交易所 IMM芝加哥国际货币市场 International Fisher Effect国际费雪效应 printing press印刷机

Monetary police: is one of the tools that a national government uses to influence its economy .Using its monetary authority to control the supply and availability of money ,a government attempts to influence the overall level of economic activity in line with its political objectives.

The central bank has three instruments available to it in order to implement monetary policy:1. open market operations: are just that ,the buying or selling of government bonds by the central bank in the open market.

2. reserve requirements: are a percentage of commercial banks, and other depository institutions demand deposit liabilities that must be kept on deposit at the central bank as a requirement of Banking Regulations.

3. the“discount window”: is where the commercial banks and other depository institutions are able to borrow reserves from the central bank at a discount rate.

What is mutual funds？（1）An investment company that issues its portfolio shares to investors.（2）Money from shareholders are pooled and invested in a wide range of stocks，bonds，or money market securities. （3）Managed by professional securities.（4）Each investor shares proportionately in the income and investment gains and losses, as well as the brokerage expense and management fees.

Main differences between Hedge funds and Mutual funds？（1）Hedge funds focus on absolute returns；Mutual funds focus on relative returns. Returns should be higher than benchmark.（2）Hedge funds can invest in any asset；Mutual funds work within a risk controlled and compliance framework set up by the regulator .（3）Hedge funds can run highly concentrated portfolios；Mutual funds：The objective is to protect investors’ investment and hence diversification is the key principle.（4）Hedge funds are virtually unregulated；Mutual funds are heavily regulated. How to build a mutual fund portfolio？Stick with stock funds; Think big; Think international； Think small，too；Put it all together；Consider index funds；Avoid overlap；Consider asset allocation funds；Avoid bond funds.