On JUNE 7th 2005 the then new global head of fixed-income trading at Lehman Brothers launched a devastating attack on America's housing market.

在2005年6月7日，雷曼公司固定收入交易全球总部给全美房地产市场施以重击。

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"You could argue that we are at a new stage where the global cost of capital goes higher and higher," said Steven Major, global head of fixed income research at HSBC.

“可以说，我们处在一个全球资金成本越来越高的新阶段，”汇丰(HSBC)固定收益研究全球主管史蒂文·梅杰(Steven Major)表示。

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That manager is a global fixed income manager who may have had other issues affecting performance other than US interest rates.

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Local currency bonds are the investment of choice of global fixed income mutual fund managers and Brazil is usually top on the list.

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Interest rates on global fixed-income securities currently range from less than 1% to 5%.

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