《金融专业英语》课件-Chapter-4-Financial-Markets.pptVIP

* * * * * * * * * * * Today, investors buy gold mainly as a hedge against political unrest and inflation. In addition, many top investment advisors recommend a portfolio allocation in commodities, including gold, in order to lower overall portfolio risk. 对冲政治动荡和通货膨胀，降低整体投资组合风险 The gold market（黄金市场） Gold Bullion（金块） illiquid, costly to buy and sell Gold Coins（金币） Advantages prices are conveniently available minted in smaller sizes Reputable dealers can be found with minimal searching Disadvantages the storage and insurance costs the relatively large markup from the dealer hindering profit potential Gold Jewelry（金银珠宝） Buying jewelry at retail prices involves a substantial markup — up to 400% over the underlying value of the gold The gold market（黄金市场） * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * 4.2 Capital Market What is a Capital Market Capital Markets in Context Stock Markets Bond Markets Mortgage markets Capital market（资本市场） What is a Capital Market Capital markets are venues where securities with an original maturity that is greater than one year are traded. 原始期限超过一年的有价证券交易场所 Core function - improve the efficiency of transactions Including - primary markets, where new equity stock and bond issues are sold to investors, and secondary markets, where existing securities are traded. Capital market（资本市场） Capital Markets in Context（资本市场的具体内容） In the context of corporate finance, the term refers to venues for obtaining investable capital for nonfinancial companies. In a financial services industry context, the term, capital markets, refers to the private markets where financial companies are involved primarily in, as opposed to public ones. In the context of public markets operated by a regulated exchange, capital markets can refer to equity markets in contrast to debt, bond, fixed income, money, derivatives, and commodities markets. In a tax context, capital markets might refer to investments intended to be held for o