巴菲特在上周末的年度股东信中对债券评价： And bonds are not the place to be these days. Can you believe that the income recently available from a 10-year 美国 Treasury bond – the yield was 0.93% at yearend – had fallen 94% from the 15.8% yield available in September 1981? In certain large and important countries, such as Germany and Japan, investors earn a negative return on trillions of dollars of sovereign debt. Fixed-income investors worldwide – whether pension funds, insurance companies or retirees – face a bleak future.

一个好公司，股价20元，涨到100多元以上，还是好公司？ 一个不好公司，股价10元，跌倒3-4元，还是不好公司？ 美股和A股，都一样。

数据说话 在20世纪90年代，从1995年股市开始像火箭一样起飞，到1999年即将结束，10年期国债平均收益率超过6%。 From 1995, when stocks began to take off like a rocketship, through 1999 when it was just about to end, the 10 year treasury yielded more than 6% on average.

美国芝加哥联储主席埃文斯：如果通货膨胀率达到3%，那将是“非同寻常的”，即使达到3%，也不会成为一个真正的问题。 市场还是担心通胀，10年美债收益率涨至1.479，埃文斯出头稳市场