Investors reduce their demand for bonds as they become increasingly concerned about the possibility of borrowers defaulting on their debt.

随着投资者愈加担心借款人可能拖欠债务，他们就会减少债券需求。

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Sources tell me counterparties were more worried at this point about MF Global defaulting on margin calls than European countries defaulting on the bonds.

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Defaulting on their bonds would have triggered the worst financial meltdown since the Great Depression.

FORBES: Commentary

Not doing so would eventually lead to defaulting on Treasury bonds, a potentially catastrophic event.

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