The same spread now implies, implausibly, deflation of 2.5% this year, and zero inflation until 2014, before reaching 2-3.5% thereafter.

• 两者的收益率价差则表明，尽管难以想象，今年的通胀率是-2.；5%25，明年至2014年通胀率为零，之后重新上升到2%25-3