实际上，一些类似土耳其那样比较脆弱的国家由于“息差交易”才使得投资者蜂拥而至。

Indeed some vulnerable countries, such as Turkey, benefited from the "carry trade" as investors piled into their currencies because of their high interest rates.

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息差交易。例如：在利率偏低时，投资者借入短期利息债券（1.5%）同时买入长期债券（4.5%），以此赚取可观息差；

For example, when the interest rate stays low, the investor borrows short term bons with 1.5% interest rate and buy long term bonds at 4.5% so as to make good profit.

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法国对德国的债券息差在近段时间达到自欧元启动以来的最高水平(仅管已略有回落)，这表明交易员已经在预计法国评级下调。

The spread of French over German bonds recently hit its highest level since the launch of the euro (though it has fallen back a bit), suggesting that traders are already anticipating a downgrading.

youdao

法国对德国的债券息差在近段时间达到自欧元启动以来的最高水平(仅管已略有回落)，这表明交易员已经在预计法国评级下调。

The spread of French over German bonds recently hit its highest level since the launch of the euro (though it has fallen back a bit), suggesting that traders are already anticipating a downgrading.

youdao