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年的大部分时间里，英国的富时100指数(FTSE 100)一直在跨度为500点的区间内震荡。很多交易员抱怨称，相对缺乏方向性的市场走势限制了他们的获利空间。从事价差押注的公司以及交易商间经纪商则感叹，市场的波动性以及交易量不足。但现在此类埋怨已经少有耳闻。股市似乎正在向高位坚定迈进。最近三个月，发达国家股市大多都上涨了10%左右，延续从去年秋季开始的上涨走势。
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