财经英语 unit5 Bonds and sharesppt课件

Unit5BondsandShares,Englishforfinance,1,PartIReadingandTranslating,Task1MatcheachoftheitemsinColumnAwithitsChineseequivalentsinColumnB.,Keys：1.D2.H3A4.F5.C6.G7.E8.B,2,Task2ScanPassageAandfindtheanswerstothefollowingquestions.,1.Whatisthenationaldebt?,Thenationalgovernment,alldebtisdefinedtoincludeallinterest-bearingobligationsofthefederalgovernment,alongwithcertainnoninterestobligationsthatareofminorimportance.,2.Atwhattimemaytheholdersoflong-termbondsholderssuffergreatcapitalloss?,Whentheholderschoosetoconverthisbondintocashpriortoitsmaturitydate.,3,Task3ReadPassageAandjudgewhetherthefollowingstatementsareTUREorFALSE.Putatick()intherelatedbox.,4,Task4MatcheachofthetermsinColumnAwithitsappropriatedefinitionincolumnB.,ColumnA,ColumnB,1.erestreturn,erestpaidforthemoneyborrowedf.long-termbondsg.balanceincoinornotesh.earningsfromlendingmoney,5,1Thenationaldebtisdefinedtoinclude(1)(2).2Theissueofcurrencyisnotincluded_3Long-termgovernmentbondsareissuedby(1)for(2).4Medium-ternnotesare(1)between(2).5Short-termbillsareissuedfor,Task5Completethefollowingnote-takingaccordingtoPassageA,bonds,notesandbills,inthefiguresforthenationaldebt.,thefederalgovernment,periodsoflongerthan5years,securitiescarryingmaturity,1and5years,periodsof90to180days.,6,Task6Fillintheblankswiththewordsorexpressionsgivenbelow.Changetheirformswherenecessary.,besubjectedtoconvertintointerestbeprotectedagainsttakeariskofatadiscountquotesubstitutionanaggregativesensedebt,Theloanwasmadeat6percent.Ofcourse,hewilllosswhenthestockpricegoesdown.Atwhatratescanthegovernmentsecuritiesdollars?Thesharesareonthestockexchangeatpage80.Thesesecuritiesserveasforcashinassetholdingsofindividuals.,interest,quoted,takeariskof,beconvertedinto,substitutions,7,Youhavetobuyingalotlotterytickets.Childrenshouldanyformsofill-treatment.8Treasurybillsareusuallymarketed.Wemustcutdownexpensesorwewillgettinginto.10,theinterestrateoflong-termgovernmentbondsishigherthanshort-termbills.,Inanaggregativesense,besubjectedto,beprotectedagainst,atadiscount,debt,besubjectedtoconvertintointerestbeprotectedagainsttakeariskofatadiscountquotesubstitutionanaggregativesensedebt,8,Task7CompletethefollowingsentencesbytranslatingthepartsgiveninChinese.,Thenationaldebtincludesallinterest-bearingobligationsofthegovernment,.此外，还有某些不重要的不付息债务.Thenationaldebtisanalternativetofinancefiscal(财政的)expenditures.通过发行公债.3.governmentsecuritiescanbeissued.以稍低的成本.,alongwithcertainnoninterestobligationsthatareofminorimportance,byissuing/floatingbonds,atalowercost,9,4.Thedebtshouldbepaid在投资项目的使用期内.5.IntheUniteStates,thenationaldebtremainslargelytheheritageofWorldWar,尽管六七十年代国债的不断增加suggestedthatthenationaldebtshouldnolongerbetreatedasawarphenomenon.,inthetermofinvestmentproject,althoughthecontinuousincreaseofnationaldebtin1960s-1970s,10,Debentures(债券)andunsecurednotescanbediscernedotherformsofdebtfinanceinthatthesefundsaresoughtfromthepublicatlarge.Incontrast,otherformsofdebtfinanceneedthecompanytoapproachindividualleadinginstitutionstoobtainthefunds.Aswithapublicissueofshares,raisingfinancethroughadebentureornoteissuerequiresthepreparationofaprospectus.Leaderwillbeadvisedaboutthetermandconditionsoftheissue,thematuritydateandinterestrates.,Task8TranslatethefollowingparagraphsintoChinese.,Paragraph1,11,债券和无担保证券可以和其他的债务形式区分开来,因为这些基金一般来源于公众。相比之下,其他形式的债务融资需要公司去接触借贷机构以获取资金。正如公开发行股票一样,通过债券或发行纸币的方式筹措资金需要准备一份招股说明书。借贷者将得知债券发行的条款,到期日和利率。,12,Paragraph2,Interestisusuallyafixedsumcalculatedontheparornominalvalueofthesecurityandwillbepaidthroughoutthetermoftheissue,withoutregardtochangesinthemarketratesofinterest.Theamountregularlypaidasinterestisknownasthe“couponrate”,whichwillbeclosetothemarketoreffectiverateofinterestatthetimeofissue.Interestratesmayfluctuateoverthetermofissue.Whenthesechangesoccur,themarketwilldiscountfuture“couponrate”paymentsatthemarketsrequiredrateofreturntodeterminethepriceofthesecurity.Thisrequiredrateofreturniscalledthe“yieldtomaturity”.,13,利息通常是根据有价证券票面价值计算而来的固定数额，并按照发行条款支付，而不考虑市场利率的变化。这些定期支付的利息称为“息票率”，接近发行时期的市场或实际利率。在发行期内利率会上下波动，当产生波动时，市场会根据其必要报酬率来贴现期货“息票率”以确定有价证券的价格。这些必要报酬率称为“到期收益率”。,14,Thesecuritiesexchangesprovideameetingplacefor.2.Abullrefersto.3.Bearsreferto.4.Buyinglongmeans5.Sellingstockreferto.,Task9CompletethefollowingstatementsaccordingtoPassageB.,thetransactionsofbuyingandsellingstocks,aninvestorwhoexpectsstockpricestorise,thoseinvestorswhoexpectstockpricestodecline,buyingstockforthepurposeofresellingitatahigherprice.,sellingstockthatyoudonotownwiththeintentionof,replacingitlateratalowerprice,15,Task10Rearrangethefollowingsentencestoshowtheprocedureofpurchasingstock.Thebeginningsentencehasbeengiventohelpyou,Howwouldyougoaboutbuyingstockinamajoroperation?Thenthetwobrokerswillinitialeachotherssalesordersandseethatthetransactionisrelayedtotheexchangereporter.Theorderwouldbetelephoneddirectlytoacompanyclerk.Youwouldplaceacallyourbroker.Theclerkwouldhandtheordertoapartneroftheexchange.Thetransactionwillcomethetickertapeafewminuteslater.Thepartnerwouldgototheappropriatelocaleonthetradingfloorandaskforthelatestquote.Firstyoudecidewhatyouwanttobuy.Youwouldenteranordertobuytheshareatthecurrentmarketprice.,()()()()()()()(),7,3,8,2,4,6,1,5,16,Task11TranslatethefollowingfromEnglishintoChineseorviceversa.,股票交易,股票市场,报价,熊市,买空,期货经纪人,foreigncurrencybroker,cashtransactions,themarketsystem,bidaprice,bullsmarket,sellingshort,17,PartIISimulatedWriting,Task12Studythefollowinggraph,andcompletethefollowingparagraph,Since1.,sharepricesforCoca-Chatyea