因国库券的债务人是国家，其还款保证是国家财政收入，所以它几乎不存在信用违约风险，是金融市场风险最小的信用工具。

Due to the Treasury of the debtor is country, its repayment guarantee is the national fiscal revenue, so it is almost no credit default risk, financial market risk minimum credit instruments.

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然而，这些公布的金融工具的利润比如房屋滴呀债券和CDS(信用违约交换)的销售，没有反映出这些金融工具带有的长期风险。

However, the reported profits on instruments such as mortgage-backed securities and the sale of credit default swaps did not reflect the long-term risks of those instruments.

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新投资者的出现，部分导致了信用价差(Credit spreads)（公司为补偿违约风险而付出的额外收益）强烈震荡 。

The advent of these new investors may have been responsible for some wild swings in credit spreads (the excess yields paid by companies to reflect the risk of default).

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