Critics of the boom in commodities trading – the sort who allege manipulation, but only when prices are rising – sometimes forget that every futures contract is rooted in a physical delivery (even if it is actually settled for cash). Some “l(fā)egitimate” hedgers, particularly in the US, are being reminded of this the hard way.
那些批評大宗商品交易過于繁榮的人——就是那些斷言交易中存在操縱，但又總是只在大宗商品價(jià)格上漲時(shí)才這么說的人——有時(shí)會忘記，每份期貨合約都植根于一次實(shí)物交割（即使最后的結(jié)算實(shí)際上是為了賺取現(xiàn)金）。一些“合法（指并非操縱）”的對沖者，尤其是在美國的這類對沖者，正在痛苦地意識到這一點(diǎn)。
您已閱讀18%（465字），剩余82%（2076字）包含更多重要信息，訂閱以繼續(xù)探索完整內(nèi)容，并享受更多專屬服務(wù)。