Take a bond with a 2% real yield maturing in ten years’ time; the bond will pay an initial $20 on a face value of $1, 000.

购买一份真实收益率为2%的10年期债券，当面值为1000美元时，债券最初付息是20美元。

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Veteran investors may recall 1962, when the Treasury-bond yield was less than 4%. Those who bought bonds then earned negative real returns over the succeeding five-, ten- and 20-year periods.

年长的投资者可能会记起1962年的情形，当时美国国库券收益率还不到4%，其持有者在此后的5年、10年和20年内承受了负的实际回报率。

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The ProShares UltraShort Lehman 20+ Year Treasury Bond ETF (TBT) and ProShares UltraShort Lehman 7–10 Year Treasury Bond ETF (PST) are good ways to play this debt-market collapse.

ProShares超短雷曼20年期美国国债的ETF （交易代码TBT）和ProShares超短雷曼7-10年期美国国债的ETF（交易代码PST）是从这一债务市场崩溃中获得交易盈利的很好方式。

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Even then, a bond of 20% of the value of goods must be put up, as insurance against wrongful and malicious impoundment.

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When they insure a bond for 20 years, they receive the entire 20 years of premiums in advance and then report the yearly income pro rata.

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The allocation to bonds and bond funds was 20.3%.

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