Home lenders, thinking they would always be able to sell the loans they made to Wall Street firms for bundling together into mortgage bonds, extended credit to just about anybody.

住房按揭贷款提供者认为他们始终能够卖出与华尔街公司发行的抵押债券绑定在一起的住房贷款，因此他们将信贷推广至任何人。

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Since writing the paper, they extended their analysis back to 1973 and found bonds' predictive ability still held.

自撰写了论文之后，他们又将研究时间往前延长至1973年，发现债券的预测能力仍然有效。

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On Thursday, the bank said it would increase its purchases of Japanese government bonds and extended the average maturity of the bonds it purchases from three years to seven years.

BBC: Haruhiko Kuroda

And, the only way to borrow long-term in a rising rate environment is to offer risk-averse investors higher coupons on bonds with extended maturities.

FORBES: Move Over Treasuries, Muni Bonds Are The New Bellwether

Home lenders, thinking they would always be able to sell the loans they made to Wall Street firms for bundling together into mortgage bonds, extended credit to just about anybody.

NEWYORKER: What Good Is Wall Street?