While recognizing the possibility that we may be wrong and that present interest rates may adequately compensate for the inflationary risk, we retain a general fear of long-term bonds.

• 当然我们的推论也许会不准确，目前的利率水准或可弥补通货膨胀所带来的损失，只是我们对于长期的债券仍报以持续的戒心。