贴水（Discount）

贴水 Discount 

摘自 路透金融词典

Discount一般是指某物的售价低于其正常水平。如果一项资产的价值高于其市场价格所反映的水平，该项资产则称为“处于贴水状态”(at discount)。在货币市场，金融票据到期前不付息，因此其价格低于面值，故称“以贴现的方式表达”。在外汇市场，贴水指远期汇率低于现汇。在期货市场，贴水指期货的价格低于现货，英文称为backwardation。 Discount的英文反义词为premium(溢价/升水)。 参见Backwardation（延期交割贴水）， Premium（溢价）。

 Discount的英文反义词为premium(溢价/升水)。参见Backwardation（延期交割贴水）， Premium（溢价）。

Generally used to describe when something is selling below its normal price. An asset or fund is described as being at discount when its value is above its market price. In the money markets it is the action of buying financial paper at less than par value. In the foreign exchange markets it is a margin by which the forward rate falls below spot. In the futures market it is referred to as backwardation. Opposite of premium.

See also: Backwardation, Premium 贴水 Discount Tieshui 取自http://glossary.reuters.com.cn/wiki/index.php/%E8%B4%B4%E6%B0%B4