risk-free asset的意思|示意

U.S. Treasury bills are the textbook definition of a safe haven asset, historically one of the most risk-free assets you can buy next to precious metals.

美国国库债券是资产的安全避险天堂，这是教科书般的定义。 在历史上，除贵金属之外，它也是你可以买到的最没有风险的资产之一。

Since America is the world's largest economy, has the most liquid financial markets and operates the world's premier reserve currency, the Treasury bond has been seen as the global risk-free asset.

美国是全球最大的经济体，拥有流动性最强的金融市场，管理着全球最重要的储备货币，因此，美国国债已经被视为一项全球性的无风险资产。

But in more exotic asset classes, the long-term expected return may be zero, or at least less than the risk-free rate.

但是在那些奇特的金融产品中，长长期望后的回报可能是零，或者最终低于无风险利率。

Next, assume that there is a risk-free asset.

接下来，假设存在一种无风险资产。

Dollars are the world's primary reserve currency, and Treasuries are the world's preferred "risk-free" asset.

美元是世界的主要储备货币，国债也是直接普遍选择的“零风险”资产。

Bottom line: There's no free lunch on Wall Street and just about every asset class carries its own form of idiosyncratic risk.

结论：华尔街没有免费午餐，几乎每种资产都有独特的风险。