私人部门给借贷给利率带来上行压力，而财政平衡通常会改善。 这句话什么意思？

NO.PZ202105270100000202 问题如下 the investment committee meeting, the firm’s chief economist prects ththe economy will enter the late expansion phase of the business cycle in the next 12 months.scuss, baseon the chief economist’s prection, the implications for the following:i. Bonyielii. Equity returnsiii. Short-term interest rates Bonyiel:In the late expansion phase of the business cycle, bonyiel are usually rising but more slowly thshort-term interest rates are, so the yielcurve flattens. Private sector borrowing puts upwarpressure on rates while fiscbalances typically improveEquity returns :In the late expansion phase of the business cycle, stocks typically rise but are subjeto high volatility investors become nervous about the restrictive monetary poliansigns of a looming economic slowwn. Cyclicassets munrperform while inflation hees, sucommoties, outperform.Short-term interest rates :In the late expansion phase of the business cycle, short-term interest rates are typically rising monetary polibecomes restrictive because the economy is increasingly in nger of overheating. The centrbank maim for a soft lanng 债券收益率:在商业周期的后期扩张阶段，债券收益率通常会上升，但比短期利率上升的速度要慢，因此收益率曲线会变平。私人部门给借贷给利率带来上行压力，而财政平衡通常会改善。股权回报率:在商业周期扩张的后期阶段，股市通常会上涨，但由于投资者对限制性货币政策和经济放缓迹象感到紧张，股市会出现高波动性。周期性资产可能表现不佳，而通胀对冲资产，如大宗商品，则表现出色。短期利率:在商业周期的后期扩张阶段，由于经济日益面临过热的危险，货币政策变趋紧，短期利率通常会上升。央行可能以软着陆为目标。 不太理解，应该不重要。但是，感觉现在还有时间，就问问哈。辛苦老师。

NO.PZ202105270100000202 问题如下 the investment committee meeting, the firm’s chief economist prects ththe economy will enter the late expansion phase of the business cycle in the next 12 months.scuss, baseon the chief economist’s prection, the implications for the following:i. Bonyielii. Equity returnsiii. Short-term interest rates Bonyiel:In the late expansion phase of the business cycle, bonyiel are usually rising but more slowly thshort-term interest rates are, so the yielcurve flattens. Private sector borrowing puts upwarpressure on rates while fiscbalances typically improveEquity returns :In the late expansion phase of the business cycle, stocks typically rise but are subjeto high volatility investors become nervous about the restrictive monetary poliansigns of a looming economic slowwn. Cyclicassets munrperform while inflation hees, sucommoties, outperform.Short-term interest rates :In the late expansion phase of the business cycle, short-term interest rates are typically rising monetary polibecomes restrictive because the economy is increasingly in nger of overheating. The centrbank maim for a soft lanng 债券收益率:在商业周期的后期扩张阶段，债券收益率通常会上升，但比短期利率上升的速度要慢，因此收益率曲线会变平。私人部门给借贷给利率带来上行压力，而财政平衡通常会改善。股权回报率:在商业周期扩张的后期阶段，股市通常会上涨，但由于投资者对限制性货币政策和经济放缓迹象感到紧张，股市会出现高波动性。周期性资产可能表现不佳，而通胀对冲资产，如大宗商品，则表现出色。短期利率:在商业周期的后期扩张阶段，由于经济日益面临过热的危险，货币政策变趋紧，短期利率通常会上升。央行可能以软着陆为目标。 如题

NO.PZ202105270100000202 问题如下 the investment committee meeting, the firm’s chief economist prects ththe economy will enter the late expansion phase of the business cycle in the next 12 months.scuss, baseon the chief economist’s prection, the implications for the following:i. Bonyielii. Equity returnsiii. Short-term interest rates Bonyiel:In the late expansion phase of the business cycle, bonyiel are usually rising but more slowly thshort-term interest rates are, so the yielcurve flattens. Private sector borrowing puts upwarpressure on rates while fiscbalances typically improveEquity returns :In the late expansion phase of the business cycle, stocks typically rise but are subjeto high volatility investors become nervous about the restrictive monetary poliansigns of a looming economic slowwn. Cyclicassets munrperform while inflation hees, sucommoties, outperform.Short-term interest rates :In the late expansion phase of the business cycle, short-term interest rates are typically rising monetary polibecomes restrictive because the economy is increasingly in nger of overheating. The centrbank maim for a soft lanng 债券收益率:在商业周期的后期扩张阶段，债券收益率通常会上升，但比短期利率上升的速度要慢，因此收益率曲线会变平。私人部门给借贷给利率带来上行压力，而财政平衡通常会改善。股权回报率:在商业周期扩张的后期阶段，股市通常会上涨，但由于投资者对限制性货币政策和经济放缓迹象感到紧张，股市会出现高波动性。周期性资产可能表现不佳，而通胀对冲资产，如大宗商品，则表现出色。短期利率:在商业周期的后期扩张阶段，由于经济日益面临过热的危险，货币政策变趋紧，短期利率通常会上升。央行可能以软着陆为目标。 收益率曲线变平， 和债券的收益率有什么关系吗？ 应该是投资过热，短期rate 上升，所以收益率曲线变平啊。不太懂 这句话 债券收益率通常会上升，但比短期利率上升的速度要慢，因此收益率曲线会变平。

NO.PZ202105270100000202 问题如下 the investment committee meeting, the firm’s chief economist prects ththe economy will enter the late expansion phase of the business cycle in the next 12 months.scuss, baseon the chief economist’s prection, the implications for the following:i. Bonyielii. Equity returnsiii. Short-term interest rates Bonyiel:In the late expansion phase of the business cycle, bonyiel are usually rising but more slowly thshort-term interest rates are, so the yielcurve flattens. Private sector borrowing puts upwarpressure on rates while fiscbalances typically improveEquity returns :In the late expansion phase of the business cycle, stocks typically rise but are subjeto high volatility investors become nervous about the restrictive monetary poliansigns of a looming economic slowwn. Cyclicassets munrperform while inflation hees, sucommoties, outperform.Short-term interest rates :In the late expansion phase of the business cycle, short-term interest rates are typically rising monetary polibecomes restrictive because the economy is increasingly in nger of overheating. The centrbank maim for a soft lanng 债券收益率:在商业周期的后期扩张阶段，债券收益率通常会上升，但比短期利率上升的速度要慢，因此收益率曲线会变平。私人部门给借贷给利率带来上行压力，而财政平衡通常会改善。股权回报率:在商业周期扩张的后期阶段，股市通常会上涨，但由于投资者对限制性货币政策和经济放缓迹象感到紧张，股市会出现高波动性。周期性资产可能表现不佳，而通胀对冲资产，如大宗商品，则表现出色。短期利率:在商业周期的后期扩张阶段，由于经济日益面临过热的危险，货币政策变趋紧，短期利率通常会上升。央行可能以软着陆为目标。 In the late expansion phase of the business cycle, short-term interest rates are typically rising monetary polibecomes restrictive because the economy is increasingly in nger of overheating. The centrbank maim for a soft lanng.这里的软着陆是否可以帮忙一下

NO.PZ202105270100000202问题如下 the investment committee meeting, the firm’s chief economist prects ththe economy will enter the late expansion phase of the business cycle in the next 12 months.scuss, baseon the chief economist’s prection, the implications for the following:i. Bonyielii. Equity returnsiii. Short-term interest rates Bonyiel:In the late expansion phase of the business cycle, bonyiel are usually rising but more slowly thshort-term interest rates are, so the yielcurve flattens. Private sector borrowing puts upwarpressure on rates while fiscbalances typically improveEquity returns :In the late expansion phase of the business cycle, stocks typically rise but are subjeto high volatility investors become nervous about the restrictive monetary poliansigns of a looming economic slowwn. Cyclicassets munrperform while inflation hees, sucommoties, outperform.Short-term interest rates :In the late expansion phase of the business cycle, short-term interest rates are typically rising monetary polibecomes restrictive because the economy is increasingly in nger of overheating. The centrbank maim for a soft lanng 债券收益率:在商业周期的后期扩张阶段，债券收益率通常会上升，但比短期利率上升的速度要慢，因此收益率曲线会变平。私人部门给借贷给利率带来上行压力，而财政平衡通常会改善。股权回报率:在商业周期扩张的后期阶段，股市通常会上涨，但由于投资者对限制性货币政策和经济放缓迹象感到紧张，股市会出现高波动性。周期性资产可能表现不佳，而通胀对冲资产，如大宗商品，则表现出色。短期利率:在商业周期的后期扩张阶段，由于经济日益面临过热的危险，货币政策变趋紧，短期利率通常会上升。央行可能以软着陆为目标。 这个题感觉短期利率这有困惑