So the debt market is something worthy of studying because it really represents a market for time itself.

债券市场很值得研究,因为它恰恰代表着,证券市场的时间价值

耶鲁公开课 - 金融市场课程节选

Now, the interest rate in Irving Fisher's world has to equate supply and demand in the market for debt.

在费雪的理论里,利率必须与,债券市场的供需关系保持平衡

耶鲁公开课 - 金融市场课程节选

The other thing that I mentioned last time was that there seems to be a really big difference between the expected return on the stock market and the expected return on short-term debt.

上节课提到的另一条内容是,股票市场的预期收益,与短期债券的预期收益,存在着巨大差异

耶鲁公开课 - 金融市场课程节选