10-15早评

合集下载

新版三年级下册语文课件-《交流平台与初试身手》教学课件人教部编版 (共10张PPT)演示课件

赢得一颗“奇思妙想星”，时间五分钟！学了《小真的长头发》和《我变成了一棵树》，小朋友，你觉得故事中哪个地方想象最奇特，最吸引你？
比拼二：接龙编故事
初试身手
故事一：
自故枝己和事事的树二夏一朋，叶：天阵友长哪选到大…进个择了风…土，过小其里瞌后组中，睡，想一树虫小根得个王牧却奇故国童张一被特事牙片吹，，舞沸到编以爪腾了地得小。颠伸有组它倒向们趣村为天纷。，单空纷他讲位…飞睁…得，出开生接洞眼口动龙睛，，，编去只那故寻见找树节早请选它他夏评评—学如评节评请一他昨他虫夏早评如他虫选请想他它他评请请想他评如节孩请请 —他早评他虫如孩想他选晨小择没睁天一一—了果一选一小阵睁天走腿天晨一果走腿择小得睁没睁一小小得睁一果选子小小—睁晨一走腿果子得睁自，朋其有开到评评节《它评自评朋大开晚到。到，评它。其朋奇开有开评朋朋奇开评它自们朋朋节开，评到。它们奇开绘卡友中风眼了：：选小怕：绘：友风眼上门了卡：怕门中友特眼风眼：友友特眼：怕绘，友友选眼卡：门怕，特眼本夫们一筝睛，谁谁自真黑谁本谁们过睛，后，夫谁黑后一们，睛筝睛谁们们，睛谁黑本登们们自睛夫谁后黑登，睛《卡展个的，瞌的的绘的，的《的展后，我的瞌卡的个展说，的，的展展说，的，《上展展绘，卡的的，上说，一开故尾只睡积积本长就积积开，只带镜睡一积就镜故开得只尾只积开开得只积就奇开开本只一积镜就奇得只我我我觉想事巴见虫累累头会累累想小见着子虫觉累会子事想有见巴见累想想有见累会思想想见觉累子会思有见带《带带《醒象，，树王最最发藏最最象牧树月那王醒最藏那，象趣树，树最象象趣树最藏妙象象树醒最那藏妙趣树卡卡月月月来为以却枝国有有起有有为童枝亮儿国来有起儿以为。枝却枝有为为。枝有起想为为枝来有儿起想。枝夫》夫亮亮亮，指小长和一价价它价价指被和去，一，价它，小指和长和价指指和价它号指指和，价，它号和卡和卡去去去发印组着树片值值白值值印吹树散盯片发值白盯组印树着树值印印树值白，印印树发值盯白，树变《变散散散现来为圆叶沸？？白？？来到叶步着沸现？白着为来叶圆叶？来来叶？白分来来叶现？着白分叶虫我虫步步步自个单圆长腾的个了长，镜腾自的镜单个长圆长个个长的组个个长自镜的组长》记变》》记己大位的进。脸大颠进它子。己脸子位大进的进大大进脸大大大进己子脸大进》成》变变，脸土，变倒土就里变，里，变土脸土变变土，比变变土变里，比土了成身接，里所身村里像的成所的接身里，里身身里所拼身身里成的所拼里一了，龙我，以，。，一自了以自龙，，我，，，，以开，，，了自以开，棵一哪编不树我哪树只己一我己编哪树不树哪哪树我始哪哪树一己我始树树只位故用根把位根夏只把故位根用根位位根把了位位根只把了根》— ——超同事牵却蓝同却天超蓝事同却牵却同同却蓝！同同却超蓝！却，— ——级学，着张色学张的级色，学张着张学学张色学学张级色张小棕棕棕大想哪它牙的想牙风大的哪想牙它牙想想牙的想想牙大的牙朋紫紫紫甲得个的舞电得舞筝甲电个得舞的舞得得舞电得得舞甲电舞友色色色虫新小手爪筒新爪，虫筒小新爪手爪新新爪筒新新爪虫筒爪，的的的。奇组，地一奇地静。一组奇地，地奇奇地一奇奇地。一地你甲甲甲，想也伸直，伸静直想，伸也伸，，伸直，，伸直伸觉虫虫虫画得没向带画向地带得画向没向画画向带画画向带向身身身得奇有天在得天跟在奇得天有天得得天在得得天在天故子子子有特长空身有空着身特有空长空有有空身有有空身空事，，，趣，长边趣我边，趣长趣趣边趣趣边中又又又…………………，编的。，上。编，的，，。，，。哪黑黑黑…………………就得线就了得就线就就就就个又又又可有。可路有可。可可可可地大大大以趣以。趣以以以以以方的的的为，为，为为为为为想虫虫虫自讲自讲自自自自自象眼眼眼己得己得己己己己己最，，，小生小生小小小小小奇天天天组动组动组组组组组特线线线赢，赢，赢赢赢赢赢似似似得那得那得得得得得最的的的一个一个一一一一一吸触触触颗小颗小颗颗颗颗颗引角角角“组“组“““““你，，，奇就奇就奇奇奇奇奇？还还还思可思可思思思思思有有有妙以妙以妙妙妙妙妙六六六想获想获想想想想想条条条星胜星胜星星星星星细细细”！”！”””””细细细，，，，，，，长长长时时时时时时时长长长间间间间间间间，，，五五五五五五五毛毛毛分分分分分分分茸茸茸钟钟钟钟钟钟钟茸茸茸！！！！！！！的的的个小组就可以获胜！

2009年第一届全国大学生数学竞赛决赛试题与答案(数学专业)【免积分】

评阅人封所在院校：
解：先求圆柱面的轴 L0 的方程. 由已知条件易知，圆柱面母线的方向是
G G n = (1,1,1) ，且圆柱面经过点 O(0, 0, 0) ，过点 O(0, 0, 0) 且垂直于 n = (1,1,1) 的平
密面 π 的方程为： x + y + z = 0 .
……………………………（3 分)
为 L0 上的点. ………………………………………………………………. （12 分)
G JJJG G JJJG | n × P0 S | | n × P0O | G G 对圆柱面上任意一点 S ( x, y, z ) ，有，即 = |n| |n| (− y + z − 1) 2 + ( x − z − 1) 2 + (− x + y + 2) 2 = 6 ，
a12 " a1n ⎞ ⎟ a22 " a2 n ⎟ ，若 AF = FA ，证明： " " "⎟ ⎟ an 2 " ann ⎟ ⎠
评阅人
− an ⎞ ⎟ 0 # 0 −an −1 ⎟ 1 # 0 − an − 2 ⎟ . ⎟ # # # # ⎟ 0 # 1 −a1 ⎟ ⎠ 0 # 0
⎛ a11 ⎜ a （1）假设 A = ⎜ 21 ⎜" ⎜ ⎜a ⎝ n1
M = A ，只需证明 A 与 M 的各个列向量对应相等即可.若以 ei 记第 i 个基本单位列向
量.于是，只需证明：对每个 i ， Mei = Aei (= α i ) .
……………………… （2 分)
若记 β = (−an , −an −1 ," , −a1 )T ，则 F = (e2 , e3 ," , en , β ) .注意到，

血压记录表

2015年8月17日早晨 2015年8月17日傍晚 2015年8月18日早晨 2015年8月18日傍晚 2015年8月19日早晨 2015年8月19日傍晚 2015年8月20日早晨 2015年8月20日傍晚 2015年8月21日早晨 2015年8月21日傍晚 2015年8月22日早晨 2015年8月22日傍晚 2015年8月23日早晨 2015年8月23日傍晚 2015年8月24日早晨 2015年8月24日傍晚 2015年8月25日早晨 2015年8月25日傍晚 2015年8月26日早晨 2015年8月26日傍晚 2015年8月27日早晨 2015年8月27日傍晚 2015年8月28日早晨 2015年8月28日傍晚 2015年8月29日早晨 2015年8月29日傍晚 2015年8月30日早晨 2015年8月30日傍晚 2015年8月31日早晨 2015年8月31日傍晚 2015年9月1日早晨 2015年9月1日傍晚 2015年9月2日早晨 2015年9月2日傍晚 2015年9月3日早晨 2015年9月3日傍晚 2015年9月4日早晨
2015年7月11日早晨 2015年7月11日傍晚 2015年7月12日早晨 2015年7月12日傍晚 2015年7月13日早晨 2015年7月13日傍晚 2015年7月14日早晨 2015年7月14日傍晚 2015年7月15日早晨 2015年7月15日傍晚 2015年7月16日早晨 2015年7月16日傍晚 2015年7月17日早晨 2015年7月17日傍晚 2015年7月18日早晨 2015年7月18日傍晚 2015年7月19日早晨 2015年7月19日傍晚 2015年7月20日早晨 2015年7月20日傍晚 2015年7月21日早晨 2015年7月21日傍晚 2015年7月22日早晨 2015年7月22日傍晚 2015年7月23日早晨 2015年7月23日傍晚 2015年7月24日早晨 2015年7月24日傍晚 2015年7月25日早晨 2015年7月25日傍晚 2015年7月26日早晨 2015年7月26日傍晚 2015年7月27日早晨 2015年7月27日傍晚 2015年7月28日早晨 2015年7月28日傍晚 2015年7月29日早晨

罗斯公司理财第六版习题答案第5章

Concept Questions◆Define pure discount bonds, level-coupon bonds, and consols.A pure discount bond is one that makes no intervening interest payments. One receives a single lump sum payment at maturity. A level-coupon bond is a combination of an annuity and a lump sum at maturity. A consol is a bond that makes interest payments forever.◆Contrast the state interest rate and the effective annual interest rate for bonds paying semi-annual interest. Effective annual interest rate on a bond takes into account two periods of compounding per year received on the coupon payments. The state rate does not take this into account.◆What is the relationship between interest rates and bond prices?There is an inverse relationship. When one goes up, the other goes down.◆How does one calculate the yield to maturity on a bond?One finds the discount rate that equates the promised future cash flows with the price of the bond.◆What are the three factors determining a firm's P/E ratio?Today's expectations of future growth opportunities.The discount rate.The accounting method.◆What is the closing price of General Data?The closing price of General Data is 6 3/16.◆What is the PE of General House?The PE of General House is 29.◆What is the annual dividend of General Host?The annual dividend of General Host is zero.Concept Questions - Appendix To Chapter 5◆What is the difference between a spot interest rate and the yield to maturity?The yield to maturity is the geometric average of the spot rates during the life of the bond.◆Define the forward rate.Given a one-year bond and a two-year bond, one knows the spot rates for both. The forward rate is the rate of return implicit on a one-year bond purchased in the second year that would equate the terminal wealth of purchasing the one-year bond today and another in one year with that of the two-year bond.◆What is the relationship between the one-year spot rate, the two-year spot rate and the forward rate over the second year?The forward rate f2 = [(1+r2)2 /(1+r1 )] - 1◆What is the expectation hypothesis?Investors set interest rates such that the forward rate over a given period equals the spot rate for that period.◆What is the liquidity-preference hypothesis?This hypothesis maintains that investors require a risk premium for holding longer-term bonds (i.e. they prefer to be liquid or short-term investors). This implies that the market sets the forward rate for a given period above the expected spot rate for that period.Questions And ProblemsHow to Value Bonds5.1 What is the present value of a 10-year, pure discount bond that pays $1,000 at maturity and is priced to yield the following rates?a. 5 percentb. 10 percentc. 15 percentSolutions a. $1,000 / 1.0510 = $613.91b. $1,000 / 1.1010 = $385.54c. $1,000 / 1.1510 = $247.185.2 Microhard has issued a bond with the following characteristics:Principal: $1,000Term to maturity: 20 yearsCoupon rate: 8 percentSemiannual paymentsCalculate the price of the Microhard bond if the stated annual interest rate is:a. 8 percentb. 10 percentc. 6 percentSolutions The amount of the semi-annual interest payment is $40 (=$1,000 ⨯ 0.08 / 2). There are a total of 40 periods; i.e., two half years in each of the twenty years in the term to maturity.The annuity factor tables can be used to price these bonds. The appropriate discount rate touse is the semi-annual rate. That rate is simply the annual rate divided by two. Thus, for part b the rate to be used is 5% and for part c is it 3%.a. $40 (19.7928) + $1,000 / 1.0440 = $1,000Notice that whenever the coupon rate and the market rate are the same, the bond ispriced at par.b. $40 (17.1591) + $1,000 / 1.0540 = $828.41Notice that whenever the coupon rate is below the market rate, the bond is pricedbelow par.c. $40 (23.1148) + $1,000 / 1.0340 = $1,231.15Notice that whenever the coupon rate is above the market rate, the bond is pricedabove par.5.3 Consider a bond with a face value of $1,000. The coupon is paid semiannually and the market interest rate (effective annual interest rate) is 12 percent. How much would you pay for the bond if a. the coupon rate is 8 percent and the remaining time to maturity is 20 years?b. the coupon rate is 10 percent and the remaining time to maturity is 15 years?Solutions Semi-annual discount factor = (1.12)1/2 - 1 = 0.05830 = 5.83%a. Price = $40400583.0A+ $1,000 / 1.058340= $614.98 + $103.67= $718.65b. Price = $50300583.0A+ $1,000 / 1.058330= $700.94 + $182.70 = $883.645.4 Pettit Trucking has issued an 8-percent, 20-year bond that pays interest semiannually. If the market prices the bond to yield an effective annual rate of 10 percent, what is the price of the bond? Solutions Effective annual rate of 10%:Semi-annual discount factor = (1.1)0.5 - 1 = 0.04881 = 4.881%Price = $404004881.0A+ $1,000 / 1.0488140= $846.335.5 A bond is sold at $923.14 (below its par value of $1,000). The bond has 15 years to maturity and investors require a 10-percent yield on the bond. What is the coupon rate for the bond if the coupon is paid semiannually?Solutions $923.14 = C3005.0A+ $1,000 / 1.0530= (15.37245) C + $231.38C = $45The annual coupon rate = $45 ⨯ 2 / $1,000 = 0.09 = 9%5.6 You have just purchased a newly issued $1,000 five-year Vanguard Company bond at par. This five-year bond pays $60 in interest semiannually. You are also considering the purchase of another Vanguard Company bond that returns $30 in semiannual interest payments and has six years remaining before it matures. This bond has a face value of $1,000.a. What is effective annual return on the five-year bond?b. Assume that the rate you calculated in part (a) is the correct rate for the bond with six years remaining before it matures. What should you be willing to pay for that bond?c. How will your answer to part (b) change if the five-year bond pays $40 in semiannual interest? Solutionsa. The semi-annual interest rate is $60 / $1,000 = 0.06. Thus, the effective annual rate is 1.062 - 1 =0.1236 = 12.36%.b. Price = $301206.0A+ $1,000 / 1.0612= $748.48c. Price = $301204.0A+ $1,000 / 1.0412= $906.15Note: In parts b and c we are implicitly assuming that the yield curve is flat. That is, the yield in year 5 applies for year 6 as well.Bond Concepts5.7 Consider two bonds, bond A and bond B, with equal rates of 10 percent and the same face values of $1,000. The coupons are paid annually for both bonds. Bond A has 20 years to maturity while bond B has10 years to maturity.a. What are the prices of the two bonds if the relevant market interest rate is 10 percent?b. If the market interest rate increases to 12 percent, what will be the prices of the two bonds?c. If the market interest rate decreases to 8 percent, what will be the prices of the two bonds?Solutionsa. PA = $1002010.0A+ $1,000 / 1.1020 = $1,000PB = $1001010.0A+ $1,000 / 1.1010 = $1,000b. PA = $1002012.0A+ $1,000 / 1.1220 = $850.61PB = $1001012.0A+ $1,000 / 1.1210 = $887.00c. PA = $1002008.0A+ $1,000 / 1.0820 = $1,196.36PB = $1001008.0A+ $1,000 / 1.0810 = $1,134.205.8 a. If the market interest rate (the required rate of return that investors demand) unexpectedly increases, what effect would you expect this increase to have on the prices of long-term bonds? Why?b. What would be the effect of the rise in the interest rate on the general level of stock prices? Why? Solutionsa. The price of long-term bonds should fall. The price is the PV of the cash flowsassociated with the bond. As the interest rate rises, the PV of those flows falls.This can be easily seen by looking at a one-year, pure discount bond.Price = $1,000 / (1 + i)As i. increases, the denominator rises. This increase causes the price to fall.b. The effect upon stocks is not as certain as that upon the bonds. The nominalinterest rate is a function of both the real interest rate and the inflation rate; i.e.,(1 + i) = (1 + r) (1 + inflation)From this relationship it is easy to conclude that as inflation rises, the nominalinterest rate rises. Stock prices are a function of dividends and future prices aswell as the interest rate. Those dividends and future prices are determined by theearning power of the firm. When inflation occurs, it may increase or decreasefirm earnings. Thus, the effect of a rise in the level of general prices upon thelevel of stock prices is uncertain.5.9 Consider a bond that pays an $80 coupon annually and has a face value of $1,000. Calculate the yield to maturity if the bond hasa. 20 years remaining to maturity and it is sold at $1,200.b. 10 years remaining to maturity and it is sold at $950.Solutions a. $1,200 = $8020rA+ $1,000 / (1 + r)20r = 0.0622 = 6.22%b. $950 = $8010rA+ $1,000 / (1 + r)10r = 0.0877 = 8.77%5.10 The Sue Fleming Corporation has two different bonds currently outstanding. Bond A has a face value of $40,000 and matures in 20 years. The bond makes no payments for the first six years and then pays $2,000 semiannually for the subsequent eight years, and finally pays $2,500 semiannually for the last six years. Bond B also has a face value of $40,000 and a maturity of 20 years; it makes no coupon payments over the life of the bond. If the required rate of return is 12 percent compounded semiannually, what is the current price of Bond A? of Bond B?Solutions PA = ($2,0001606.0A) / (1.06)12 + ($2,5001206.0A) / (1.06)28 + $40,000 / (1.06)40= $18,033.86PB = $ 40,000 / (1.06)40 = $3,888.89The Present Value of Common Stocks5.11 Use the following February 11, 2000, WSJ quotation for AT&T Corp. Which of the following statements is false?a. The closing price of the bond with the shortest time to maturity was $1,000.b. The annual coupon for the bond maturing in year 2016 is $90.00.c. The price on the day before this quotation (i.e., February 9) for the ATT bond maturing in year 2022 was $1.075 per bond contract.d. The current yield on the ATT bond maturing in year 2002 was 7.125%e. The ATT bond maturing in year 2002 has a yield to maturity less than 7.125%.Bonds Cur Yld Vol Close Net ChgATT 9s 16 ? 10 117 _ 1/4ATT 5 1/8 01 ? 5 100 _ 3/4ATT 7 1/8 02 ? 193 104 1/8 _ 1/4ATT 8 1/8 22 ? 39 107 3/8 _ 1/8Solutions a. TrueTrueFalseFalseTrue5.12 Following are selected quotations for New York Exchange Bonds from the Wall Street Journal. Which of the following statements about Wilson’s bond is false?a. The bond maturing in year 2000 has a yield to maturity greater th an 63⁄8%.b. The closing price of the bond with the shortest time to maturity on the day before this quotation was $1,003.25.c. This annual coupon for the bond maturing in year 2013 is $75.00.d. The current yield on the Wilson’s bond with the longest time to maturity was 7.29%.e. None of the above.Quotations as of 4 P.M. Eastern TimeFriday, April 23, 1999Bonds Current Yield Vol Close NetWILSON 6 3/8 99 ? 76 100 3/8 _ 1/8WILSON 6 3/8 00 ? 9 98 1/2WILSON 7 1/4 02 ? 39 103 5/8 1/8WILSON 7 1/2 13 ? 225 102 7/8 _ 1/8Solutions a. TrueFalseTrueTrueFalse5.13 A common stock pays a current dividend of $2. The dividend is expected to grow at an 8-percent annual rate for the next three years; then it will grow at 4 percent in perpetuity.The appropriate discount rate is 12 percent. What is the price of this stock?Solutions Price = $2 (1.08) / 1.12 + $2 (1.082) / 1.122 + $2 (1.083) / 1.123+ {$2 (1.083) (1.04) / (0.12 - 0.04)} / 1.123= $28.895.14 Use the following February 12, 1998, WSJ quotation for Merck & Co. to answer the next question. 52 Weeks Yld Vol NetHi Lo Stock Sym Div % PE 100s Hi Lo Close Chg120. 80.19 Merck MRK 1.80 ? 30 195111 115.9 114.5 115 _1.25Which of the following statements is false?a. The dividend yield was about 1.6%.b. The 52 weeks’ trading range was $39.81.c. The closing price per share on February 10, 1998, was $113.75.d. The closing price per share on February 11, 1998, was $115.e. The earnings per share were about $3.83.Solutions a. FalseTrueFalseFalseTrue5.15 Use the following stock quote.52 Weeks Yld Vol NetHi Lo Stock Sym Div % PE 100s Hi Lo Close Chg126.25 72.50 Citigroup CCI 1.30 1.32 16 20925 98.4 97.8 98.13 _.13The expected growth rate in Citigroup’s dividends is 7% a year. Suppose you use the discounted dividend model to price Citigroup’s shares. The constant growth dividend model would suggest that the required return on the Citigroup’s stock is what?98.125 = 1.30 ( 1.07) / r - 0.07r = 8.4175 %5.16 You own $100,000 worth of Smart Money stock. At the end of the first year you receive a dividend of $2 per share; at the end of year 2 you receive a $4 dividend. At the end of year 3 you sell the stock for $50 per share. Only ordinary (dividend) income is taxed at the rate of 28 percent. Taxes are paid at the time dividends are received. The required rate of return is 15 percent. How many shares of stock do you own? Solutions Price = $2 (0.72) / 1.15 + $4 (0.72) / 1.152 + $50 / 1.153= $36.31The number of shares you own = $100,000 / $36.31 = 2,754 shares5.17 Consider the stock of Davidson Company that will pay an annual dividend of $2 in the coming year. The dividend is expected to grow at a constant rate of 5 percent permanently.The market requires a 12-percent return on the company.a. What is the current price of a share of the stock?b. What will the stock price be 10 years from today?Solutionsa. P = $2 / (0.12 - 0.05) = $28.57b. P10 = D11 / (r - g)= $2 (1.0510) / (0.12 - 0.05) = $46.545.18 Easy Type, Inc., is one of a myriad of companies selling word processor programs. Their newest program will cost $5 million to develop. First-year net cash flows will be $2 million. As a result of competition, profits will fall by 2 percent each year thereafter.All cash inflows will occur at year-end. If the market discount rate is 14 percent, what is the value of this new program?SolutionsValue = -$5,000,000 + $2,000,000 / {0.14 - (-0.02)}= $7,500,0005.19 Whizzkids, Inc., is experiencing a period of rapid growth. Earnings and dividends per share are expected to grow at a rate of 18 percent during the next two years, 15 percent in the third year, and at a constant rate of 6 percent thereafter. Whizzkids’ last dividend, which has just been paid, was $1.15. If the required rate of return on the stock is 12 percent, what is the price of a share of the stock today? SolutionsPrice = $1.15 (1.18) / 1.12 + $1.15 (1.182) / 1.122 + $1.152 (1.182) / 1.123+ {$1.152 (1.182) (1.06) / (0.12 - 0.06)} / 1.123= $26.955.20 Allen, Inc., is expected to pay an equal amount of dividends at the end of the first two years. Thereafter, the dividend will grow at a constant rate of 4 percent indefinitely. The stock is currently traded at $30. What is the expected dividend per share for the next year if the required rate of return is 12 percent? Solutions$30 = D / 1.12 + D / 1.122 + {D (1 + 0.04) / (0.12 - 0.04)} / 1.122= 12.053571 DD = $2.495.21 Calamity Mining Company’s reserves of ore are being depleted, and its costs of recovering a declining quantity of ore are rising each year. As a result, the company’s earnings are declining at the rate of 10 percent per year. If the dividend per share that is about to be paid is $5 and the required rate of return is 14 percent, what is the value of the firm’s stock?SolutionsDividend one year from now = $5 (1 - 0.10) = $4.50Price = $5 + $4.50 / {0.14 - (-0.10)} = $23.75Since the current $5 dividend has not yet been paid, it is still included in the stock price.5.22 The Highest Potential, Inc., will pay a quarterly dividend per share of $1 at the end of each of the next 12 quarters. Subsequently, the dividend will grow at a quarterly rate of 0.5 percent indefinitely. The appropriate rate of return on the stock is 10 percent. What is the current stock price?Estimates of Parameters in the Dividend-Discount ModelSolutionsPrice = $112025.0A+ {$1 (1 + 0.005) / (0.025 - 0.005)} / 1.02512= $10.26 + $37.36= $47.625.23 The newspaper reported last week that Bradley Enterprises earned $20 million. The report also stated that the firm’s return on equity remains on its historical trend of 14 percent. Bradley retains 60 percent of its earnings. What is the firm’s growth rate of earnings? What will next year’s earnings be? SolutionsGrowth rate g = 0.6 ⨯ 0.14 = 0.084 = 8.4%Next year earnings = $20 million ⨯ 1.084 = $21.68 million5.24 Von Neumann Enterprises has just reported earnings of $10 million, and it plans to retain 75 percent of its earnings. The company has 1.25 million shares of common stock outstanding. The stock is selling at $30. The historical return on equity (ROE) of 12 percent is expected to continue in the future. What is the required rate of return on the stock?Growth Opportunitiesg = retention ratio ⨯ ROE = 0.75 ⨯ 0.12= 0.09 = 9%Dividend per share = $10 million ⨯ (1 - 0.75) / 1.25 million= $2The required rate of return = $2 (1.09) / $30 + 0.09= 0.1627 = 16.27%5.25 Rite Bite Enterprises sells toothpicks. Gross revenues last year were $3 million, and total costs were $1.5 million. Rite Bite has 1 million shares of common stock outstanding. Gross revenues and costs are expected to grow at 5 percent per year. Rite Bite pays no income taxes, and all earnings are paid out as dividends.a. If the appropriate discount rate is 15 percent and all cash flows are received at year’s end, what is the price per share of Rite Bite stock?b. The president of Rite Bite decided to begin a program to produce toothbrushes. The project requires an immediate outlay of $15 million. In one year, another outlay of $5 million will be needed. The year after that, net cash inflows will be $6 million. This profit level will be maintained in perpetuity. What effect will undertaking this project have on the price per share of the stock?Solutionsa. Price = ($3 - $1.5) ⨯ 1.05 / (0.15 - 0.05)= $15.75b. NPVGO = -$15,000,000 - $5,000,000 / 1.15 + ($6,000,000 / 0.15) / 1.15= $15,434,783The price increases by $15.43 per share.5.26 California Electronics, Inc., expects to earn $100 million per year in perpetuity if it does not undertake any new projects. The firm has an opportunity that requires an investment of $15 million today and $5 million in one year. The new investment will begin to generate additional annual earnings of $10 million two years from today in perpetuity. The firm has 20 million shares of common stock outstanding, and the required rate of return on the stock is 15 percent.a. What is the price of a share of the stock if the firm does not undertake the new project?b. What is the value of the growth opportunities resulting from the new project?c. What is the price of a share of the stock if the firm undertakes the new project?Solutionsa. Price = EPS / r = {$100 million / 20 million} / 0.15= $33.33b. NPV = -$15 million - $5 million / 1.15 + ($10 million / 0.15) / 1.15= $38,623,188c. Price = $33.33 + $38,623,188 / 20,000,000= $35.265.27 Suppose Smithfield Foods, Inc., has just paid a dividend of $1.40 per share. Sales and profits for Smithfield Foods are expected to grow at a rate of 5% per year. Its dividend is expected to grow by the same rate. If the required return is 10%, what is the value of a share of Smithfield Foods?SolutionsPrice = 1.40 (1.05) / 0.10 - 0.05Price = $29.405.28 In order to buy back its own shares, Pennzoil Co. has decided to suspend its dividends for the next two years. It will resume its annual cash dividend of $2.00 a share 3 years from now. This level of dividends will be maintained for one more year. Thereafter, Pennzoil is expected to increase its cash dividend payments by an annual growth rate of 6% per year forever. The required rate of return on Pennzoil’s stock is 16%. According to the discounted dividend model, what should Pennzoil’s current share price be? SolutionsPrice = 2 / (1.16) 3 + 2 / (1.16)4 + 2.12 / 0.16 - 0.06= 1.28 + 1.10 + 21.20= $23.585.29 Four years ago, Ultramar Diamond Inc. paid a dividend of $0.80 per share. This year Ultramar paid a dividend of $1.66 per share. It is expected that the company will pay dividends growing at the same rate for the next 5 years. Thereafter, the growth rate will level at 8% per year. The required return on this stock is 18%. According to the discounted dividend model, what would Ultramar’s cash dividend be in 7 years? a. $2.86c. $3.68d. $4.30e. $4.82Solutionsa. g = 0.4 ⨯ 0.15 = 0.06 = 6%b. Dividend per share = $1.5 million ⨯ 0.6 / 300,000= $3Price = $3 (1.06) / (0.13 - 0.06)= $45.43c. Assuming the additional earnings generated are all paid out as cash dividends.NPV = -$1.2 million + $0.3 million {1 / (0.13 - 0.10)} {1 - (1.10 / 1.13)10}= $1,159,136.93d. Price = $45.43 + $1,159,136.93 / 300,000= $49.295.30 The Webster Co. has just paid a dividend of $5.25 per share. The company will increase its dividendby 15 percent next year and will then reduce its dividend growth by 3 percent each year until it reaches the industry average of 5 percent growth, after which the company will keep a constant growth, forever. The required rate of return for the Webster Co. is 14 percent. What will a share of stock sell for?SolutionsPrice = 3 / 1.15 + 4.5 / ( 1.15)2 + 4.725 / 0.15- 0.05= 2.61 + 3.40 + 47.52= $53.535.31 Consider Pacific Energy Company and U.S. Bluechips, Inc., both of which reported recent earnings of $800,000 and have 500,000 shares of common stock outstanding. Assume both firms have the same required rate of return of 15 percent a year.a. Pacific Energy Company has a new project that will generate cash flows of $100,000 each year in perpetuity. Calculate the P/E ratio of the company.Chapter 5 How to Value Bonds and Stocks 129b. U.S. Bluechips has a new project that will increase earnings by $200,000 in the coming year. The increased earnings will grow at 10 percent a year in perpetuity. Calculate the P/E ratio of the firm. Solutionsa. P/E of Pacific Energy Company:EPS = ($800,000 / 500,000) = $1.6NPVGO = {$100,000 / 500,000} / 0.15 = $1.33P/E = 1 / 0.15 + 1.33 / 1.6 = 7.50b. P/E of U. S. Bluechips, Inc.:NPVGO = {$200,000 / 500,000} / (0.15 - 0.10) = $8P/E = 1 / 0.15 + 8 / 1.6 = 11.675.32 (Challenge Question) Lewin Skis Inc. (today) expects to earn $4.00 per share for each of the future operating periods (beginning at time 1) if the firm makes no new investments (and returns the earnings as dividends to the shareholders). However, Clint Williams, President and CEO, has discovered an opportunity to retain (and invest) 25% of the earnings beginning three years from today (starting at time 3). This opportunity to invest will continue (for each period) indefinitely. He expects to earn 40% (per year) on this new equity investment (ROE of 40), the return beginning one year after each investment is made. The firm’s equity discount rate is 14% throughout.a. What is the price per share (now at time 0) of Lewin Skis Inc. stock without making the new investment?b. If the new investment is expected to be made, per the preceding information, what would the value of the stock (per share) be now (at time 0)?c. What is the expected capital gain yield for the second period, assuming the proposed investment is made? What is the expected capital gain yield for the second period if the proposed investment is not made?d. What is the expected dividend yield for the second period if the new investment is made? What is the expected dividend yield for the second period if the new investment is not made?Solutionsa. Price = $4 / 0.14 = $28.57Price = 28.57 + (-1 + 0.40 / 0.14) / 0.04(1.14) 3= 28.57 + 31.33The expected return of 14% less the dividend yield of 5% providesa capital gain yield of 9%. If there is no investment the yield is 14%.$3 / $59.90 = .05 and $4 / $28.57 = .14 without the investment.Appendix to Chapter 5 Questions And ProblemsA.1 The appropriate discount rate for cash flows received one year from today is 10 percent. The appropriate annual discount rate for cash flows received two years from today is 11 percent.a. What is the price of a two-year bond that pays an annual coupon of 6 percent?b. What is the yield to maturity of this bond?Solutionsa. P = $60 / 1.10 + $1,060 / (1.11)2= $54.55 + $ 860.32= $914.87$914.87 = $60 / ( 1 + y ) + $1,060 / ( 1 + y )2y = YTM = 10.97%A.2 The one-year spot rate equals 10 percent and the two-year spot rate equals 8 percent. What should a 5-percent coupon two-year bond cost?SolutionsP = $50 / 1.10 + $1,050 / (1.08)2= $45.45 + $900.21= $945.66A.3 If the one-year spot rate is 9 percent and the two-year spot rate is 10 percent, what is the forward rate? Solutions ( 1 + r1 )( 1 + ƒ2 ) = ( 1 + r2 )2( 1.09 ) ( 1 + ƒ2 ) = ( 1.10 )2ƒ2 = .1101A.4 Assume the following spot rates:Maturity Spot Rates (%)1 52 73 10What are the forward rates over each of the three years?Solutions( 1 + r2 )2 = ( 1+ r1 ) ( 1 + ƒ2 )( 1.07 )2 = ( 1.05 )( 1 + ƒ2 )ƒ2 = .0904, one-year forward rate over the 2nd year is 9.04%.( 1 + r3 )3 = ( 1 + r2 )2 ( 1 + ƒ3 )( 1.10 )3 = ( 1.07 )2 ( 1 + ƒ3 )ƒ3 = .1625, one-year forward rate over the 3rd year is 16.25%.。

吉林省吉林市普通中学2022-2023学年高三上学期第二次调研测试英语试题含答案

★启用前·绝密★吉林市普通中学2022-2023学年度高中毕业年级第二次调研测试英语（答案在最后）注意事项：1. 本次考试由四部分组成, 考试时间120分钟, 满分150分。

2. 答卷前, 考生务必将自己的学校、班级、姓名、考生号填写在答题卡指定位置。

3. 请按题号顺序在答题纸上各题目的答题区域内整洁作答, 超出区域答题无效。

第一部分听力（共两节, 满分30分）第一节（共5小题；每小题1. 5分, 满分7. 5分）听下面5段对话。

每段对话后有一个小题, 从题中所给的A、B、C三个选项中选出最佳选项, 并标在试卷的相应位置。

听完每段对话后, 你都有10秒钟的时间来回答有关小题和阅读下一小题。

每段对话仅读一遍。

现在你有5秒钟的时间阅读第1小题的有关内容。

1. What was the weather like in southern China during the woman’s holiday?A. Sunny.B. Rainy.C. Snowy.2. Where does the woman find her keys?A. In her pocket.B. On the table.C. On the ground.3. What is Tony?A. A teacher.B. A writer.C. A photographer.4. What is the probable relationship between the speakers?A. Husband and wife.B. Boss and secretary.C. Waiter and customer.5. What was the man probably doing this morning?A. He was watching a competition.B. He was attending a meeting.C. He was taking a math class.第二节（共15小题；每小题1. 5分, 满分22. 5分）听下面5段对话或独白。

211015888_联合检测血清β2-MG、Irisin_及尿ALB

DOI：10.16658/ki.1672-4062.2022.24.001联合检测血清β-MG、Irisin及尿ALB/Cr2对早期糖尿病肾病的诊断价值谢培民，张雁宁化县总医院检验科，福建三明365400[摘要]目的探讨联合检测血清β2-微球蛋白（β2-Microglobulin，β2-MG）、鸢尾素（Irisin）及尿白蛋白/肌酐（al⁃bumin/creatinine，ALB/Cr）对早期糖尿病肾病（diabetes nephropathy，DN）的诊断价值。

方法回顾性选取2021年1月—2022年1月宁化县总医院收治的40例早期DN患者作为观察组，并选取同期本院收治的40例糖尿病患者作为对照组。

收集两组患者实验室检查资料及血清β2-MG、Irisin及尿ALB/Cr资料，比较两组实验室指标，分析血清β2-MG、Irisin及尿ALB/Cr联合检测对早期DN的诊断价值。

结果观察组血清β2-MG、尿ALB/Cr水平高于对照组，血清Irisin水平低于对照组，差异有统计学意义（P<0.05），两组其他资料比较，差异无统计学意义（P>0.05）。

绘制ROC曲线，结果显示，血清β2-MG、Irisin及尿ALB/Cr诊断早期DN的AUC均> 0.80，诊断价值理想，且以联合诊断价值最佳。

结论血清β2-MG、Irisin及尿ALB/Cr联合检测对早期DN的诊断价值理想，若糖尿病患者血清β2-MG及尿ALB/Cr过表达、Irisin低表达，提示早期DN高风险。

[关键词] 糖尿病肾病；β-微球蛋白；尿白蛋白/肌酐；鸢尾素；诊断价值2[中图分类号] R587.1 [文献标识码] A [文章编号] 1672-4062（2022）12（b）-0001-04-MG, Irisin and Uri⁃Diagnostic Value of Combined Detection of Serum β2nary ALB/Cr for Early Diabetic NephropathyXIE Peimin, ZHANG YanDepartment of Laboratory, Ninghua County General Hospital, Sanming, Fujian Province, 365400 China [Abstract] Objective To investigate the diagnostic value of combined detection of serum β2-Microglobulin (β2-MG), Irisin and urinary Albumin/Creatinine (ALB/Cr) on early diabetic nephropathy (DN).Methods Retrospectively selected 40 patients with early DN admitted to Ninghua County General Hospital from January 2021 to January 2022 as the ob⁃servation group, and selected 40 patients with diabetes admitted to our hospital in the same period as the control group. The data of laboratory tests and serum β2-MG, Irisin and urinary ALB/Cr were collected from both groups. The laboratory indexes of the two groups were compared, and the diagnostic value of combined serum β2-MG, Irisin and urinary ALB/Cr test for early DN was analyzed.Results The serum β2-MG and urinary ALB/Cr levels in the observa⁃tion group were higher than those in the control group, and the serum Irisin levels were lower than those in the control group, the difference was statistically significant (P<0.05), and there were not statistically significant differences in other information between the two groups (P>0.05). The ROC curves were plotted, and the results showed that the AUC of serum β2-MG, Irisin and urinary ALB/Cr for the diagnosis of early DN were all >0.80, and the diagnostic value was ideal, and the combined diagnostic value was the best.Conclusion The combined test of serum β2-MG, Iri⁃sin and urinary ALB/Cr has ideal diagnostic value for early DN, and if diabetic patients have overexpression of serum β2-MG and urinary ALB/Cr and low expression of Irisin, it indicates high risk of early DN.[Key words] Diabetic nephropathy; β2-microglobulin; Urinary albumin/creatinine; Irisin; Diagnostic value[作者简介]谢培民（1973-），男，本科，主管检验师，研究方向为临床检验研究。

北京时间换算成地方真太阳时

北京时间换算成地方真太阳时
已知北京时间求当地真太阳时的步骤：
（1）首先根据当地的经度（见附表一），计算出当地的平太阳时
平太阳时= 北京时间+ 4分钟×（当地东经经度- 120）
（2）再根据真平太阳时时差（见附表二），把当地的平太阳时转换为真太阳时真太阳时= 平太阳时+ 时差
例如，求新疆乌鲁木齐市在北京时间2月15日早6点0分0秒的真太阳时：（1）从表一查得乌鲁木齐的经度为：东经87.36°
其平太阳时= 6点0分0秒+ 4分钟×（87.36 - 120）= 3点49分26秒（2）从表二查得2月15日的真太阳时与平太阳时的时差为：-14分5秒其真太阳时= 3点49分26秒+（-14分5秒）= 3点35分21秒
由此可见，北京时间2月15日早6点0分0秒在新疆乌鲁木齐应该确定为寅时。

附表一：全国主要城市经纬度
（由于博文字数限制，请需要者前往下载：新浪网提供的下载）
附表二：真平太阳时时差。

桩位偏差

-30
278
+15
+10
308
-15
+10
338
21
+26
279
+20
+25
309
-18
34
339
+20
+10
280
-20
+90
310
-25
-26
340
+35
-20
281
-15
-20
311
+20
+10
341
+10
+25
282
+20
+15
312
35
-20
342
-30
+10
283
+35
+30
313
+10
-25
295
-10
-22
325
-35
-40
355
+20
-10
296
-12
+20
326
+20
-35
356
-10
-15
297
-30
+35
327
+45
-20
357
+38
0
298
-50
-40
328
+20
-38
358
23
-15
299
+36
+14
329
+10
-40
359
+26

公司放假通知客户（通用21篇）

公司放假通知客户公司放假通知客户（通用21篇）在充满活力，日益开放的今天，用到通知的地方越来越多，通知是向特定受文对象告知或转达有关事项或文件，让对象知道或执行的公文。

那么，怎么去写通知呢？以下是小编收集整理的公司放假通知客户，仅供参考，大家一起来看看吧。

公司放假通知客户篇1尊敬的客户朋友：您好! 正值国庆佳节举国欢庆之际，在此衷心感谢您长期以来对我们的关心和支持!在您的信赖下，我们才得以在激烈的市场环境下不断进步，我们也会继续努力做更好、更优的产品和服务提供给您，谢谢!关于国庆放假安排通知：为了欢度国庆，根据公司的具体情况，我公司国庆放假时间已定为20xx年10月1日至20xx年10月7日，10月8日恢复正常上班，共休假7天。

如您有紧急问题需处理请与相关人员联系。

技术咨询：商务咨询：因放假给您带来的不便。

我们深表歉意!最后山西煜顺承科技有限公司全体员工恭祝您国庆愉快，身体健康，财源广进。

再次感谢您对本公司一直以来的关注与支持!公司放假通知客户篇2尊敬的各位新老客户、事业伙伴们：您们好！新春佳节渐进，为欢度中华民族的传统佳节，使全体人民能够开开心心地过上一个欢乐、祥和的20xx年春节，尽可能的与家人一起享受节日的欢乐和喜悦，结合公司生产实际情况，经公司领导研究决定：一、公司定于20xx年2月6日起开始放年假，年假共计：20天，截止时间为20xx年2月25日，20xx年2月26日（农历大年十一）正式上班。

二、放假期间，如有不便之处，敬请谅解！三、提前祝大家：新年快乐，狗年吉祥四、全国各大物流在1月20左右都不再走中转的一些站点，只能直达，所以请新老客户提前备货，以免给你带来不便，谢谢，合作愉快！公司放假通知客户篇3尊敬的客户：您好！新年快到了，预祝合位在新的一年里工作顺利、生意兴隆！与往年一样，今年还是1、2、3号放假，4号（周一）正常上班，现将放假期间我司各个航线的收货安排通知如下：一、外运仓放假安排如下：20xx年1月1日至1月3日放假，放假期间停止所有业务，4号正常上班！20xx年12月31日（星期三）出仓单证办理截止到15：30，进仓办理截止到：19：00，不安排夜班操作。

固定收益证券_习题答案

r = 237.5%
组合的市场价值
PA+C = 454.54 + 404.54 = 959.08
PB+C = 204.54 + 404.54 = 609.08
9、当期的平价到期收益曲线1如下：
1 平价收益率是指证券价格等于面值时的到期收益率 3
到期日
平价收益率
1
10%ห้องสมุดไป่ตู้
2
15%
3
20%
4
23%
5
25%
1100 × (1+ 3.19%)16 = 1818
利息为 16*40=640
利息的利息为
资本利得为-100
C
⎡ ⎢ ⎣
(1 +
y)n y
−1⎤ ⎥ ⎦
−
nC
=
40
⎡ ⎢ ⎣
(1
+
0.0319)16 0.0319
−
1⎤ ⎥ ⎦
−16
×
40
= 178.47
收益中利息占 89.13%（640/718），利息的利息占 24.79%（178/718），资本利得为-13.93%
6
0 76.95
71.04
65.40
60.05
55.01
50.28
45.86
41.76
37.96
9 9.5 10 10.5 11 11.5 12 12.5 13 13.5 14 14.5 15 15.5 16 16.5 17 17.5 18 18.5 19 19.5 20
9.2188% 9.2700% 9.3194% 9.3672% 9.4132% 9.4575% 9.5000% 9.5408% 9.5799% 9.6172% 9.6528% 9.6866% 9.7188% 9.7491% 9.7778% 9.8047% 9.8299% 9.8533% 9.8750% 9.8950% 9.9132% 9.9297% 9.9444%

1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。

【鼎珀创富飞龙吐金】美国ETF黄金基金加重仓黄金后市看好
【昨日回顾】
昨日黄金开盘1376.90，最高报1386.72，最低1369.95，收盘1381.25，波幅约17美金，
收一根带上、下影线的小阴线。今日开盘1381.30，目前多空双方在金价1378一线展开争
夺。
【基本面】
美国ETF黄金基金SPDR Gold Shares加仓19.14276吨,当前持仓：1304.34
吨;
在前两个交易日中，现货金连续突破1370美元和1380美元两个关口，上涨了逾
35美元左右。美元的持续疲软成为推动此番金价上扬的主要因素。而跟随黄金的上涨，现
货银与现货钯金分别触及30年和9年的记录高位。
周四(15日)纽约时段，美元指数刷新年内低点75.26，美元下滑提升了黄金避险需
求，现货金直逼1400美元关口，周四亚洲早盘时段，金价从1370美元附近稳步走高，并在
亚市午盘后端刷新纪录新高1387.10美元，此后小幅回落。欧洲时段，金价在1380美元下
方交投。纽约时段，现货金收复此前跌幅，收报1380.85美元，涨幅0.71%。
市场分析师称，金价目前仍将从美元走势中寻求指引，如果美元进一步走软，那金
价有可能会提前突破1400美元。美元连创新低推升金价
周三(13日)纽约交易时段前，国际现货金一直在1350美元上方盘整，尽管金价一
直处于高位，但因前一日美元反弹，现货金价并未表现出向上突破的势头。但到纽约交易早
盘，黄金上冲至1374.15美元/盎司。
市场交易员表示，由于市场对美联储进一步采取量化宽松措施的预期升温，美元
受到打压持续走低，为黄金的强劲上涨构成了支撑。而到了周四(14日)新加坡金管局意外
宣布收紧货币政策，导致美元跌势加剧，兑一些主要货币刷新历史低点。黄金则借美元创新
低的机会，突破1380美元关口，为9月14日以来第16次刷新纪录高点。分析师称，新加
坡的意外举动令投资者纷纷抛售美元，转而投向黄金这一避险资产。该人士表示，美联储将
在11月推出更多量化宽松政策的计划几乎已成定局，美元在此之前很难再出现一波反弹形
势，因此金价上升的能量依然充足。而基于美国经济复苏仍处于低迷的原因，高盛、联合信
贷银行、花旗等投行也纷纷上调了其对未来黄金走势的预估。
金价涨势何为尽头，在金价连日刷新纪录之际，有分析师警告称，目前黄金已经
持续了两个多月的上涨，其中泡沫成分相当大，中期多头获利颇丰，一旦泡沫破灭即会出现
大量获利抛盘，金价随时可能出现大幅跳水的行情。

从技术面来看，成交量现在仍是黄金上涨的主要动力来源，但上档持续受到波林格区间上缘
线妨碍。而金价正开始建构的一个大型顶部型态，在市场成交量下降之际，黄金将会出现一
段向下修正走势。整体环境仍有利于黄金，市场预期进一步量化式宽松政策，及担忧复苏情
况，持续支撑着黄金买盘。
【技术面分析】
从日线图看：昨日已经反弹上破1380这个关键点位并连续创下新高1386。布林带向呈张口
状，目前金价受布林上轨阻力1386-1388一线和5日均线支撑1366一线、10日均线支撑1352
一线。指标上看：MACD尽管红柱动能较前期有所增强，快线上穿慢线呈“黄金交叉”状；
RSI值处于75-85之间方向向下拐头；KDJ值处于85-59之间方向向下拐头。
从四小时图看：布林轨呈张口且发散，目前金价短线受阻余前期新高1386-1388一线、布林
上轨1390一线和布林中轨1362一线、10均线1376一线、20日均线1364一线支撑。指标
上看：MACD绿柱动能较前期有所减弱且快线有上穿慢线呈“黄金交叉”趋势但快线有下穿
慢线趋势。
综合上看：基本面依然为金价上扬提供良好氛围，大趋势下涨势维持良好。今日亚盘或许有
回调修复指标需求，若上行动能不足，无法继续创新高，今日将进入震荡整理。介于高位追
单的高风险情绪加剧，操作上依然以回调后逢低作多为主，目前1378一线选择观望为宜。
【可操作建议】
激进者：1，可在回调到1370-1374附近轻仓短线做多，止损1368，目标1376-1378-1380-1384；

稳健者：1，可在回调到1366-1367附近轻仓多，止损1263，目标1370-1374-1378-1380-1384；
2，可在回调到1361-1364附近轻仓多，止损1258，目标
1368-1370-1374-1378-1380-1384；

10月15日星期四需重点关注数据如下：
14:00 欧元区 9月份新车注册前值-12.9%
17:00 欧元区 8月份贸易收支前值67亿欧元;市场影响★★
17:00 欧元区 9月份消费者物价指数前值0.2%/月;市场影响★
20:15 美国美联储主席贝南克讲话;市场影响★
20:30 美国 10月份纽约联储制造业指数前值4.1
20:30 美国 9月份零售销售前值0.4%/月;预测0.3%/月;市场影响★
20:30 美国 9月份核心零售销售前值0.5%/月
20:30 美国 9月份消费者物价指数前值0.3%/月,1.1%/年;市场影响★★
20:30 美国 9月份核心消费者物价指数前值0.0%/月,0.9%/年
21:55 美国 10月份密歇根大学消费者信心指数 ;市场影响★
22:00 美国 8月份商业库存前值1.0%/月;市场影响★

若需要开户、实时喊单详情请咨询本人！