When Rwandan bonds are yielding below 8 per cent, Indonesian sovereign debt swings 150 basis points and the Indian rupee oscillates wildly in a matter of weeks, while every day the US equity market sets new highs, (despite lacklustre earnings growth which continues to be driven largely by cost-cutting), some people might conclude that markets are volatile and bubbly. Clearly, though, both the current Federal Reserve chairman Ben Bernanke and Janet Yellen, nominated to succeed him, are not among the worriers.
盧旺達國債收益率不足8%，印度尼西亞主權債務收益率波動幅度達到150個基點，印度盧比匯率在短短幾周內大幅震蕩，同時美國股市連創新高（盡管盈利增長仍然乏力，而且仍主要由成本削減驅動）——有人或許會得出結論：市場動蕩，滋生泡沫。但顯然，現任美聯儲(Fed)主席本?伯南克(Ben Bernanke)和提名接班人珍妮特?耶倫(Janet Yellen)并不擔心。
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