With the unemployment rate currently at 7.4% – having fallen nearly a full percentage point in the last 12 months – markets can anticipate that the 6.5% threshold could be reached in 2014. And the prospect of rising short-term rates means that investors no longer need to hold long-term bonds to achieve a higher return over the next several years.
目前，失业率为7.4%——在过去12个月中下降了近一个百分点——市场可以预期6.5%的的阈值将在2014年达到。而短期利率上升的前景意味着在未来数年中，投资者不再需要持有长期债券来实现更高的回报。