市場

IT'S BUBBLY ALL ROUND BUT REALLY, DOES ANYONE CARE?
是泡沫,還是牛市?


FT專欄作家傑克遜:如果未能在一開始就進入市場,你纔會稱之爲泡沫。如果進去了,它就是牛市。經驗表明,泡沫通常會持續數年。

There was something heart-warming about this week's news that US bankers are resuming their carefree habits from the days of the credit boom. In lending to private equity, it seems, they are once more issuing so called covenant-lite and payment-in-kind loans, whereby borrowers are freed from irksome conditions and can pay their annual interest by simply borrowing more.

本週有訊息稱,美國銀行家正在恢復信貸繁榮時期養成的無憂無慮的習慣,這讓人感到心頭一暖。在向私人股本提供信貸方面,他們似乎已再次發行所謂的「低門檻」貸款和「實物支付」貸款——借款人由此可以避免煩人的條款,並可通過借入更多款項來支付每年的利息。

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