Funds seek big opportunities after poll
市场屏息等待英国公投结果
广州翻译公司：国际大型对冲基金和资产管理公司囤积大量现金，为英国退欧公投结束后的几小时中可能出现的交易机会做准备。
Some of the world’s biggest hedge funds and asset managers are anticipating large trading opportunities in the immediate hours after the
世界上一些最大的对冲基金和资产管理公司预期，英国结束围绕其欧盟成员国身份的公投后的几小时里将出现巨大交易机会，为此，它们的交易员囤积了大量现金，以便利用任何市场错位。广州翻译公司。
As
在英国选民昨日前往投票站之际，交易员和基金经理们表示，他们不愿意在结果出来之前大笔下注，但已准备好在结果出来后杀入市场。广州翻译公司。
“The best is to go into the event with as few positions as you can, so you can take advantage of the volatility that comes afterwards,” said Stan de Caumont, a macro portfolio manager at Point72 Asset Management .
“最好是带着尽可能少的头寸迎接公投结果，这样你就能利用之后出现的波动性，”Point72 Asset Management的宏观投资组合经理斯坦•德科蒙(Stan de Caumont)表示。广州翻译公司。
“To come into it with too many positions, you will be just fighting off fires and you won’t be able to concentrate on the opportunities.”
“如果带着太多的头寸迎接公投结果，你会忙着灭火，而不能专注于机遇。”
Global investors have more of their portfolios allocated to cash than at any time since 2001, according to a survey by Bank of America Merrill Lynch that underlines how market moves could be sharp if those funds are put to work.
美银美林(Bank of America Merrill Lynch)的一项调查显示，全球投资者投资组合中的现金比重高于2001年以来任何时候，这突显出，如果这些资金重新进场，市场波动可能相当剧烈。广州翻译公司。
However, even if traders want to make a big bet, dealers and investors may be unwilling to take the other side, some said. Goldman Sachs became the latest bank to warn that turbulent conditions in the currency market after the result could make pricing hard.
然而，也有一些人表示，即使交易员想要大笔下注，做市商和投资者也可能不愿意做交易对手方。高盛(Goldman Sachs)警告称，公投结果出来后汇市的动荡状况，可能使定价难以进行。该行是发出此类警告的最新一家银行。广州翻译公司。
The vote may “result in the foreign exchange market experiencing high volatility with the potential to create material gaps in liquidity and wide swings in market prices”, according to an email from Goldman seen by the Financial Times.
根据英国《金融时报》看到的一封来自高盛的电子邮件，英国公投可能“导致外汇市场经历较高波动性，潜在引发实质性的流动性缺口，市场价格剧烈波动”。
Banks and foreign-exchange trading venues have called in extra staff to cope with potential heavy volume.
银行和外汇交易场所都已安排额外人手，以应付潜在的巨大交易量。广州翻译公司。
“Pretty much everything is on hold,” said Marc Lasry, chief executive of Avenue Capital, an $11.3bn alternative asset manager. “You’re trying to buy things cheap in the hope that people are very nervous.”
“差不多一切都暂停了，”旗下管理着113亿美元另类资产的Avenue Capital的首席执行官马克•拉斯里(Marc Lasry)表示，“你寄望于别人非常紧张，想要趁机捡便宜。”
Another hedge fund manager said he had tried to work out which relationships between various asset classes would change in the event of a Brexit vote. “Correlations may break down completely, and it is hard to know how the market will react,” he said.
另一个对冲基金经理表示，他曾试图找出那些资产类别之间的关系将在英国脱欧的情况下改变。“关联度可能彻底断裂，很难知道市场将如何反应，”他说。广州翻译公司。
Mr de Caumont said that if the
Point72的德科蒙表示，如果英国选择留在欧盟，流动性很可能重返市场，“整个游戏将是卖掉保护”，包括对主权债务和汇率波动的下注。
But if the decision is to leave, markets will probably stay frozen “as people figure out what it means”.
但是，如果英国选民决定脱离欧盟，市场很可能继续冻结，“大家试图搞清楚这意味着什么”。 广州翻译公司。
Then “you will have a cascade of consequences” as political movements in other European countries gather momentum for similar decisions, he added.
他补充说，那时，随着其他欧洲国家的政治运动形成势头、推动类似的决定，“你会看到一连串的后果”。
Some managers with retail clients, such as Pimco and Vanguard, have hedged by moving into bonds, traders said. For them, it is easier to justify losing some money on a hedge than to explain that they did nothing at all, one trader said.
交易员们表示，一些面向零售客户的管理公司，如太平洋投资管理公司(Pimco)和先锋(Vanguard)，已转投债券作为对冲。一名交易员表示，在对冲措施上损失了一点钱，总比什么都没做说得过去一些。
Additional reporting by Henny Sender
桑晓霓(Henny Sender)补充报道
