Driving up the price of bonds reduces their yield, and in effect the interest rate.
推高债券价格就会降低它们的收益率,结果即是降低利率。
So one possible discount rate is the state's cost of borrowing, the yield on its municipal bonds.
这样折算率就是国家的借款成本,也就是市政债券的收益率。
The fixed-rate element normally carries a higher yield than that of Treasury bonds with the same maturity.
而固定利率一般比同一期间到期的美国国债收益率高。
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