题号是:NO.PZ202105270100000202
答案中,late expansion阶段时 bond yields的表现描述如下:
In the late expansion phase of the business cycle, bond yields are usually rising but more slowly than short-term interest rates are, so the yield curve flattens. Private sector borrowing puts upward pressure on rates while fiscal balances typically improve
请问如何理解“fiscal balances typically improve”?请老师详细解答一下。谢谢!