For much of 2012, the UK’s FTSE 100 index traded in a 500-point range. Many traders complained that such relatively directionless markets limited their scope for gains. Spread betting firms and interdealer brokers bemoaned the lack of volatility and volume. There are fewer such complaints now. Stock markets in particular seem to be heading inexorably higher. Most of the world’s developed markets have put on around 10 per cent in the past three months, building on a rally that began last autumn.
在2012年的大部分時間里，英國的富時100指數(FTSE 100)一直在跨度為500點的區間內震蕩。很多交易員抱怨稱，相對缺乏方向性的市場走勢限制了他們的獲利空間。從事價差押注的公司以及交易商間經紀商則感嘆，市場的波動性以及交易量不足。但現在此類埋怨已經少有耳聞。股市似乎正在向高位堅定邁進。最近三個月，發達國家股市大多都上漲了10%左右，延續從去年秋季開始的上漲走勢。
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