Wednesday 08:00 BST. Global stocks are at their best levels since the outbreak of the financial crisis, bolstered by record highs on Wall Street as the US economy improves but monetary policy remains accommodative.
英国夏令时间周三上午8点，受益于美国经济的好转及依然宽松的货币政策，华尔街行情被推升至创纪录的高点，从而令全球股市出现金融危机爆发以来的最佳行情。
Perceived havens such as the yen and Treasuries are softer as investors embrace riskier bets.
由于投资者对风险偏好的提升，日元和美国国债等显而易见的资产避风港行情疲软。
The FTSE Eurofirst 300 is up 0.2 per cent after its Asia-Pacific peer added 0.4 per cent. Together, they are helping the FTSE All-World equity index rise 0.2 per cent to 272.6, a seventh consecutive day of gains that takes the worldwide benchmark to its highest since December 2007. Another 2.6 per cent rise and the All-World will be in record territory.
富时亚太指数(FTSE Asia-Pacific index)上涨0.4%，随后富时Eurofirst 300 (FTSE Eurofirst 300)指数也上涨了0.2%。在两者的推动下，富时环球指数(FTSE All-World)上涨0.2%至272.6，这是该指数连续7天上涨。这使得该全球基准指数升至2007年12月以来的最高点，只要再上涨2.6%，该指数就会出现创纪录行情。
That is where the S&P 500 in New York closed on Tuesday, and futures show the gauge will add another 2 points to 1887.5 when the bell rings for Wednesday’s session.
事实上，周二收盘时纽约标普500(S&P 500)指数已创下最高纪录。而期货行情则显示周三开盘时该指标将再涨2点，升至1887.5。
The mood on Wall Street has been bolstered by signs the US economy is emerging from its weather-affected slowdown of recent months and yet, with Janet Yellen at its helm, the Federal Reserve is in no hurry to begin tightening monetary policy.
华尔街市场情绪的高涨，一方面是因为美国经济出现了从持续几个月的放缓中复苏的迹象——这次放缓是严寒天气导致的，另一方面则是因为詹尼特•耶伦(Janet Yellen)执掌下的美联储(Fed)并不急于收紧货币政策。
Ms Yellen has stressed she believes the US jobs market is still weak and so investors will be keeping a keen eye on the March non-farm payrolls report, due for release on Friday.
耶伦曾强调说，她相信美国就业市场依旧疲软，因此投资者将密切关注美国3月份非农就业报告，该报告将于周五发布。
“Market sentiment continues to be positive, as the improvement in the US ISM manufacturing index. . .was enough to convince investors that the US economy continues to gather momentum after the period of severe weather,” wrote Gary Yau, analyst at Crédit Agricole.
法国农业信贷银行(Crédit Agricole)分析师Gary Yau表示：“美国ISM制造业指数的升高足以让投资者相信，在经历一段时间的恶劣天气后，美国经济增势在继续加强。这一行情令市场继续保持乐观情绪。”
Such optimism tends to be damaging for fixed income assets and so the price of Treasuries are falling, pushing 10-year yields up 1 basis points to 2.77 per cent.
对于固定收益资产来说，这种乐观情绪是十分不利的。美国国债的价格正在下跌之中，10年期国债收益率上升了1个基点，升至2.77%。
The yield on equivalent duration German paper is up 1bp to 1.59 per cent as investors prepare for the other big event of the week, Thursday’s European Central Bank policy decision.
同样期限的德国国债收益率也上升了1个基点，升至1.59%。与此同时，投资者们正在对周四欧洲央行(ECB)将要公布的政策决定拭目以待。
Disinflationary pressures in the eurozone – price growth in March fell to a four-year low of 0.5 per cent – have sparked chatter that the ECB may take action. But a poll by Reuters showed 18 out of 22 money market traders felt the central bank will stand pat, and leave interest rates at 0.25 per cent.
欧元区正面临通胀趋缓的压力，该地区3月份物价增幅跌至0.5%，是四年来的最低点。这种局面催生了欧洲央行将采取行动的说法。不过路透社(Reuters)的一项调查显示，大部分货币市场交易人员（每22位中就有18位）认为欧洲央行将按兵不动，把利率维持在0.25%的水平不变。
The euro is up 14 pips $1.3806, causing the dollar index to slip 0.1 per cent.
欧元兑美元汇率上升了14个基点，升至1欧元兑1.3806美元，从而导致美元指数下滑0.1%。
A good indicator about how investors are feeling is their attitude towards supposedly riskier emerging market assets. The FTSE Emerging Market equity index is up 0.3 per cent, taking its winning stretch to nine days. India’s Sensex index, for example, is up 0.3 per cent to claim another record as investors continue to bet on a post-election economic uplift.
新兴市场的风险按说会更高，因此投资者对新兴市场资产的态度是一个能反映投资者感受的好指标。富时新兴市场指数(FTSE Emerging Market index)上涨了0.3%，这是该指数连续第9天上涨。以印度Sensex指数为例，由于投资者仍在押注大选后的经济上行行情，该指数上涨了0.3%，再次涨到了创纪录的水平。
Another proxy for risk appetite is the Japanese yen, which tends to weaken as global market sentiment improves. The yen is down 0.1 per cent to Y103.79 versus the US dollar, its cheapest in 10 weeks.
另一个表征风险偏好的指标是日元汇率，全球市场情绪向好时，日元往往会走弱。目前，日元兑美元汇率下跌了0.1%，跌至1美元兑103.79日元的水平，这是10周以来日元的最低汇率水平。
A softer yen also often displays an inverse correlation to Japanese stocks, and so the Nikkei 225 has led the Asia region higher with a 1 per cent pop.
日元疲软往往会与日本股市呈现负相关性，出于这个原因，日经225指数(Nikkei 225)以跃升1%的表现领跑亚洲股市。
The gain in Tokyo resumed an upward streak that halted on Tuesday after a quarterly survey from the Bank of Japan indicated companies were worried about the impact of the sales tax rising from 5 per cent to 8 per cent.
东京股市恢复了在周二中断的涨势。就在周二，来自日本央行(BoJ)的一项季度性调查显示，多家企业对于消费税由5%上调至8%会产生的影响十分担心。
The positive sentiment overshadowed further details released by the BoJ on Wednesday showing that Japanese companies do not expect the central bank to hit its 2 per cent inflation target next year – a key goal of Prime Minister Shinzo Abe’s scheme to revive the economy.
市场的乐观情绪还盖过了日本央行周三公布的进一步细节，这些细节显示日本企业预计日本央行明年无法实现2%的通胀目标——这一目标对于日本首相安倍晋三(Shinzo Abe)复苏经济的计划至关重要。
In Greater China, the Shanghai Composite rose 0.4 per cent and Hong Kong’s Hang Seng added 0.2 per cent after state media reports of looser housing ownership restrictions gave a lift to property plays.
在大中华区，在中国官方媒体放宽购房限制的报道为地产大戏推波助澜之际，上证综指上涨0.4%，香港恒生指数也上涨了0.2%。
In commodities, copper jumped 1 per cent in early dealing after an earthquake in Chile, the world’s biggest producer of the red metal, raised fears about restricted supply. Those gains have been pared, however, and copper is now up 0.2 per cent to $6,660 a tonne.
大宗商品方面，在世界最大铜矿出产国智利地震后，铜价在早盘时上涨了1%，这引发了铜矿供应紧张的担忧。然而，目前铜价已然回落，回落至每吨6660美元的水平，比头天上涨了0.2%。
Brent crude is recovering just 2 cents to $105.64 a barrel after its 2 per cent slide on Tuesday, and gold is adding $5 to $1,284 an ounce.
继周二下滑2%之后，布伦特基准原油价格也止跌回升，上涨2美分，升至每桶105.64美元。金价上涨了5美元，涨至一盎司1284美元的水平。