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Funktionsarzneimittel
Störseren
Apr 2, 2021 17:24
3 yrs ago
40 viewers *
German term

unter der Oberfläche der großen Aktienindizes

German to English Bus/Financial Finance (general)
I am not sure whether to put this in general or finance as I think the queried term is not financial in itself I believe:

"Steigende Realrenditen erhöhen die Opportunitätskosten, belasten alle Anlageklassen und sorgen für Volatilität im Markt und *unter der Oberfläche* der großen Aktienindizes. Entscheidend ist, was die realen Renditen nach oben treibt."

I know the normal meaning of *unter der Oberfläche* as in "under the surface", but that does not make sense to me here. Would it mean something like "has an indirect impact on"?
Proposed translations (English)
3 hidden under the surface of the major indices
3 +1 volatility under the surface of the major indices
4 -1 "under the hood" of the major/headline indices
2 and when scratching / we scratch/ the surface of major stock indices

Discussion

Klaus Beyer Apr 3, 2021:
reword it? ....gives rise to market volatility in general and the lower reaches of major indices in particular.

I understand it to mean that there is a certain stirring in some segments of the indices which up to this point has largely gone unnoticed
philgoddard Apr 3, 2021:
I think the literal meaning is clear, but I still don't understand what the writer is trying to say. Could it be his/her fault rather than ours?
Lancashireman Apr 2, 2021:
unter der Oberfläche as an undercurrent in the major indices

Proposed translations

8 hrs
Selected

hidden under the surface of the major indices

the logic of the image becomes clearer when "hidden" is added. "not reflected in the major indices" would read better, but may be a bridge too far in the battle for fidelity.
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4 KudoZ points awarded for this answer. Comment: "Thanks - that 1 word makes a difference"
-1
1 hr

"under the hood" of the major/headline indices

It's common to speak of "taking a look 'under the hood'" with respect to indices. I'd suggest setting off the expression in quotation marks, i.e. "...volatility both in the market [as a whole] and "under the hood" of the major indices.
Peer comment(s):
disagree Ramey Rieger (X) : Are you SURE you want to say this? https://www.urbandictionary.com/define.php?term=Under the Ho...
12 hrs
Yes indeed. I believe this is the most appropriate of the translations offered so far (although "scratching the surface" could work too). Just try googling "under the hood of * indices" and you'll find nearly 5 million hits.
neutral Lancashireman : I think you should have persisted with your Google search - amazing how 15,000,000 suddenly shrinks to 15. I also had to look the phrase up, as it is clearly American. Asker is UK based: hood (EN-US) = bonnet (EN-GB).
23 hrs
neutral philgoddard : Come on, Ramey/Yorkshireman: everyone knows what "under the hood" means, even if they're non-American and wouldn't use it themselves.
1 day 2 hrs
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+1
1 hr

volatility under the surface of the major indices

...create volatility in the market and under the surface of major equity indices...

Compare with this:
"The volatility under the surface of the indices makes for some interesting opportunities, but it illustrates that the core of the market is unhealthy and that there is risk to the downside. We still have the potential for headline news to complicate matters further."
https://realmoney.thestreet.com/investing/stocks/market-play...
Peer comment(s):
agree Lancashireman : "That 1 word" makes no difference and is an overtranslation.
1 day 22 hrs
Agree. Classic case of overtranslation.
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3 hrs
German term (edited): und unter der Oberfläche der großen Aktienindizes

and when scratching / we scratch/ the surface of major stock indices

Indices as the plural of index as an indicator, but indexes for a register book.

My hunch is that the hackneyed term of 'unter dem Strich liegen' doesn't work with stock indices, so 'unter der Oberfläche' had been taken as a 'superficial surrogate'.

Best avoid the typo of 'starching' the surface, as my audio-typists had been wont to stray into.


Example sentence:

For a list of major stock market indices, see List of stock market indices

Reference:

http://de-de.facebook.com/swissborg/posts/crypto-for-film-this-talk-about-volatility-is-only-scratching-the-surface-of-wha/868814559964960/

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