unter der Oberfläche der großen Aktienindizes

English translation: hidden under the surface of the major indices

17:24 Apr 2, 2021

German to English translations [PRO]
Bus/Financial - Finance (general)

German term or phrase: unter der Oberfläche der großen Aktienindizes

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"?

Elizabeth Niklewska KudoZ activity Questions: 682 (9 open) (26 without valid answers) (41 closed without grading) Answers: 77 United Kingdom
Local time: 08:24

English translation:hidden under the surface of the major indices

Explanation:
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.

Selected response from:

Wolfgang Hager
Italy
Local time: 09:24

Grading comment

Thanks - that 1 word makes a difference
4 KudoZ points were awarded for this answer

Summary of answers provided

3 +1

volatility under the surface of the major indices

Michael Martin, MA

4 -1

"under the hood" of the major/headline indices

Susan Starling

hidden under the surface of the major indices

Wolfgang Hager

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

Adrian MM.

Discussion entries: 3

Answers

1 hr confidence:

peer agreement (net): -1

"under the hood" of the major/headline indices

Explanation:
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.

Susan Starling
Local time: 09:24
Specializes in field
Native speaker of:

English
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)

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

1 hr confidence:

peer agreement (net): +1

volatility under the surface of the major indices

Explanation:
...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...

Michael Martin, MA
United States
Local time: 03:24
Works in field
Native speaker of:

German,

English
PRO pts in category: 147

3 hrs confidence:

und unter der Oberfläche der großen Aktienindizes and when scratching / we scratch/ the surface of major stock indices

Explanation:
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(s):

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-th...

Adrian MM.
Austria
Specializes in field
Native speaker of:

English
PRO pts in category: 44

8 hrs confidence:

hidden under the surface of the major indices

Explanation:
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.

Wolfgang Hager
Italy
Local time: 09:24
Specializes in field
Native speaker of:

German
PRO pts in category: 16

Grading comment

Thanks - that 1 word makes a difference

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unter der Oberfläche der großen Aktienindizes

English translation: hidden under the surface of the major indices

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