With previous hybrid instruments, banks were reluctant to halt interest payments and did all they could to buy back bonds on specified dates for fear of showing weakness to markets.
有了之前的混合工具,银行就不愿意停止支付利息,也尽其所能在指定日期买回债券以避免在市场示弱。
2
Dropping a buy-back programme can be done on the quiet.A dividend cut is a very public statement of corporate weakness.
取消回购计划可能还会暗箱操作,但是股息的下挫可就公开地昭示了公司业绩的下降。
3
Some of the Republicans didn't buy it, but more of them sensed weakness, and I think that's how they're playing it.