When stress in one market spreads to another that shares its lenders, its currency or its investors — often because the same funds must sell whatever they can, not whatever is worst.
「传染」
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| 6% | France's risk premium overtakes Italy's as bond investors price a default 「传染」 · 第 9 张术语卡 | If France can be repriced, so can Italy or Belgium: the same funds hold all of them. Britain's 30-year yield already touched 6% on October 1. 传染需要两个条件：共同的资金池，和共同的基准。欧元区两者都有——同一批基金买遍所有成员国的国债，而德国国债是共同基准。所以决策者最怕的不是法国一国利差走阔，而是这件事从「法国故事」变成「整个欧元区的故事」。 |