全球政府债券价格飙升 股市下行

 The global rally in government bonds broke records on Friday while equities¹ buckled² as a combination of anxiety over the world economy and Britain’s referendum on EU membership sent investors³ racing⁴ to safety.

全球政府债券价格飙升势头周五打破纪录，而股市下行，对全球经济以及英国欧盟(EU)成员国身份公投的担忧促使投资者纷纷涌向安全资产。

Bears took charge of financial markets already grappling with the effects of negative interest rates in the eurozone and Japan as European equities suffered their worst day since the market meltdown at the start of the year.

熊市行情主宰着已在努力应对欧元区和日本负利率影响的金融市场，欧洲股市遭遇自今年初市场暴跌以来最糟糕的一天。

“To see the 10-year Bund [yield] so close to zero is shocking,” said Philip Brown, head of sovereign capital markets at Citigroup. “Equities are falling and fixed⁵ income is rallying in a flight to quality — there are real fears in markets about global growth.”

“10年期德国国债收益率降至如此接近零的水平，令人震惊，”花旗集团(Citigroup)主权资本市场主管菲利普?布朗(Philip Brown)表示，“随着人们涌向高质量资产，股市在下跌，固定收益证券价格在飙升，市场对于全球增长确实感到担忧。”

German, UK and Japanese sovereign bond yields all reached historic lows with the yield on the 10-year Bund — a benchmark for the eurozone — falling as low as 0.01 per cent. Gold also rallied as deeper risk aversion dashed any hopes that US stocks would reach a new high this week.

德国、英国和日本主权债券收益率均触及历史低位，10年期德国国债（欧元区基准）收益率一度降至0.01%的低位。黄金价格也飙升，因更深层次的避险情绪粉碎了有关美国股市本周将触及新高的希望。

Bond prices, which move in the opposite direction to yields, have been electrified⁶ by moves by the European Central Bank and the Bank of Japan to cut interest rates into negative territory in their latest efforts to revive listless economies.

作为提振低迷经济的最新努力，欧洲央行(ECB)和日本央行(Bank of Japan)将利率降至负值，这些举措提振了债券价格（与收益率走势相反）。

The succession of record lows across European and Japanese government bond markets this week is stirring concern over the long-term effects on savers and pension plans, as well as the wider threat of financial instability should the rally unwind sharply.

欧洲和日本政府债券市场的收益率本周接连触及创纪录低位，令人担心储户和养老金计划将受到的长期影响，以及一旦价格涨势急速回转将带来的全方位的金融不稳定威胁。

1 equities   

普通股，股票

参考例句：

• These are invested mainly in the OECD bonds and equities. 这些资产主要投资于经济合作及发展组织的债券与股票市场。
• They are also advantage of the global rebound in equities. 它们还在利用全球股市反弹的机会。

2 buckled   

a. 有带扣的

参考例句：

• She buckled her belt. 她扣上了腰带。
• The accident buckled the wheel of my bicycle. 我自行车的轮子在事故中弄弯了。

3 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

4 racing   

n.竞赛，赛马；adj.竞赛用的，赛马用的

参考例句：

• I was watching the racing on television last night.昨晚我在电视上看赛马。
• The two racing drivers fenced for a chance to gain the lead.两个赛车手伺机竞相领先。

5 fixed   

adj.固定的，不变的，准备好的；(计算机)固定的

参考例句：

• Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？
• Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。

6 electrified   

v.使电气化( electrify的过去式和过去分词 )；使兴奋

参考例句：

• The railway line was electrified in the 1950s. 这条铁路线在20世纪50年代就实现了电气化。
• The national railway system has nearly all been electrified. 全国的铁路系统几乎全部实现了电气化。 来自《简明英汉词典》