Oko Bonke abaTyalo-mali kufuneka bazi malunga neeBond Default and Default Risk
Kwimeko yamashishini, ukungafezeki ngokuqhelekileyo kuvela xa imeko yezoshishino ehlahlayo ikhokelela ekunciphiseni kwemali eyaneleyo yokwenza iintlawulo ezihleliweyo zingenakwenzeka.
Ngokufanayo, amazwe akhutshelelwa ukuba angagqibekanga xa imali yabo yentlawulo ingabonakali ukukhawulelana neendleko zabo zokuncedisa amatyala kunye neendleko eziqhubekayo. Ngokuqhelekileyo, kunoko, le ngxaki ixazululwa ngokuthi "ukulungiswa" - isivumelwano phakathi kwelizwe elikhuphayo kunye nabanini-mboleko balo ukuba batshintshe imimiselo yetyala lalo - kunokuba kungagqibekanga.
Yintoni eyenzekayo xa i-Bond ichithwa?
Isibophelelo esingagqibekanga asithethi ukuba umtyalo-mali uza kulahla yonke inqununu yakhe. Kwimeko yeebhanki zenkampani, umzekelo, abaqeshisi baninzi bafumana inxalenye yenqununu yabo yokuqala xa umniki-mali ehlawula impahla yakhe kwaye ehambisa imali phakathi kwababolekisi. Kwi-market-yield market, ngokomzekelo, izinga lokubuyisela izinga eliphakathi kwe-1977-2011 lalingama-42.05%, ngokwephepha le-Peritus Asset Management lika-Apreli 2012, "I-Case entsha yeNtlawulo ephezulu." Kuthetha ukuba umtyalo-mali ohlawule i-$ 100 kwisibophelelo esithe xaxa saso siza kuthi, ngokuqhelekileyo, samkela i-$ 42 emva kokuba i-asethi isasazwa phakathi kwababolekisi.
Nangona ilahleko, le meko ayifaki ukulahlekelwa ngokupheleleyo.
Xa ibhondi ingapheli, ayiyi kupheleka ngokupheleleyo. Enyanisweni, izibophelelo zihlala ziqhuba ukuthengisa ngamanani athatyathwe ngokuthe ngqo, ngamanye amaxesha atshaba "ityala elixinzelelekileyo" abatyalo-mali abakholelwa ukuba baya kukwazi ukufumana ngaphezulu kwi-dispersion ye-asethi yenkampani ngaphandle kwexabiso lentengiso ekhoyo ngoku.
Esi siqhinga esivakaliswe ngokubanzi kuphela ngabatyalo-mali abasesikweni.
Ukungalungi kunye nokuSebenza kweMatriki
Ubuninzi beziphene zilindeleke kwiimarike zezemali, ngoko ke into efanelekileyo yexabiso elichaphazelekayo elichaphazelekayo lingenzeka ngaphambi kokumemezela kwangoku. Uninzi lweziphene zilandelwa ukuhlawulwa kweekhredithi kwixabiso lokuthenga ngetyala leziko elikhuphayo. Isiphumo kukuba ezininzi ezingapheliyo zivela kwiibhondi eziphantsi ezikhutshwe ngamagunya anesifo esaziwayo.
Iingxaki zichasene nokungagqibekanga kwi-AAA. Kwiminyaka engama-42 ukuya ku-2011, i-100% yezibhanki zikamasipala eziqingqiweyo zihlawulwe zonke iinzuzo ezilindelekileyo kunye neentlawulo eziyinhloko kubatyalomali, ngelixa i-99.9% yezibophelelo ze-muni zenzeke njalo. Kwakhona, ukususela ngo-1920 ukuya ku-2009, kuphela i-0.9% ye-AAA-eqingqiweyo yeebhanki zenkampani .
Kule manani, sinokubona ukuba izibophelelo eziphakamileyo kakhulu zithatha ukungenzi ukusilela - ukubonakalisa imeko ephezulu yemali ehambelana nokuphakanyiswa okuphezulu. Kunoko, uninzi lweziphene ezivela kwii-securities eziphantsi.
Kwiziphi Iimakethe zeMakethe ezifezekisileyo Uninzi olunokwenzeka ukuba zenzeke?
Umngcipheko wokungagqibekanga ungaphantsi kwee-bond-government bonds (ezifana ne- US Treasury ), izibambiso ezixhaswe ngemali ezixhaswa nguRhulumente wase-US, kunye neebhondi ezinokulinganiswa kweebhanki eziphezulu.
Iibhonki ezinamaxabiso athatyathelwe yinto enokungagqibekanga kunokuba kukho ukunyuka kwezinga lentengo kuthiwa unobungozi obuphezulu bentengo . Iibhondi ezineengozi ephezulu zemboleko zivame ukwenza xa amandla abo aphantsi koqoqosho ephuculweyo, kodwa engaphantsi xa imali yabo iyancipha. Zonke iiklasi ze-asethi zinakho ukufumana ingozi enkulu yemboleko; Ezi zinto zivame ukwenza kakuhle xa uqoqosho luqinisa kwaye lungaphantsi xa lucotha. Imizekelo eyinhloko yintsebenzo ephezulu yezivuno kunye nezibophelelo ezincinci kumacandelo otyalo-mali kunye namacandelo omasipala.
Igalelo lomngcipheko ongekho phantsi kule mimandla yeemarike lilinganiswa ngesantya esingagqibekanga okanye ipesenteji yeengxaki zebhondi ngaphakathi kwinqanaba le-asethi elinikezelweyo phambi kweenyanga ezilishumi elinesibini. Xa izinga elingagqibekanga liphantsi okanye liwa, lisoloko luba luhle kumacandelo athengisa amatyala eemarike; xa liphakame kwaye likhuphuka, la maqhekeza athambeka ukugaya.
Funda kabanzi malunga nezinga elingagqibekanga apha .
Ngaphantsi
Abantu ngabanye banokuphepha impembelelo yokungalunganga ngokubambelela ngeemfanelo eziphakamileyo eziphezulu okanye iimali ezinobungozi obuphantsi. Abaphathi abakhuselekileyo banokuphepha ingozi ngokuzenzekelayo ngophando olunzulu, kodwa khumbula ukuba ukunyuka okungekho kumandla kunokulinganisela kuwo onke amanqaku emakethe kwaye ngoko ke ingxowa yempembelelo iyabuya nangona umphathi angakwazi ukuphepha ukhuseleko. Ngenxa yoko, ukungaphumeleli kunokuchaphazela bonke abatyali-mali ngandlela-thile, kwanabo abangabinalo izibophelelo.