people holding money for the purpose that it yields the best return among all the assets available. people take the advantage of investment opportunities instead of transaction for holding money.

持有货币而不是持有有价证券的一种投机行为。（因为证券的市场价格与利率成反比，所以预期利率将会上涨从而可以在较低价位购得证券的人暂时持有货币的一种行为。）

翻译的不太好，你权且作为参考吧。以下是原文：

The speculation motive is one reason to hold money instead of bonds. Because the market value of interest-bearing bonds is inversely related to the interest rate, investors may wish to hold money in anticipation that interest rates will increase so that bonds will be available at lower prices.

非常感谢!!!