Then again, since central Banks are such big players in government-bond markets these days, is the yield a true "market price"?

自央行在国债市场中扮演如此重要角色以来，这样的收益率还是真实的“市场价格”吗？

youdao

The Shanghai Stock Exchange government bond index ended flat at 120.71.

上交所的国债指数收于120.71点，与之前持平。

youdao

So there's not a lot of room in the government bond market or other high-quality bond markets to generate excess returns.

所以对于政府债券或者优质债券,超额收益的空间不大

耶鲁公开课 - 金融市场课程节选

If we have an annual return that we're looking at, we can find a completely riskless asset with an annual return-- it would be a government bond that matures in one year.

如果我们可以查看各项资产的年度收益，我们可以找到一个零风险,且达到预期年度收益的资产项目-,也许是一年期的政府债券。

耶鲁公开课 - 金融市场课程节选

The shortest term debt instrument in the United States is the Federal Funds Rate, which is an overnight rate--one day maturity-- and the longest issued by the Government is a thirty-year government bond, which will be repaid three decades in the future.

美国最短期的债券,是联邦基金利率,隔夜拆兑,一天到期,而时间最长的国债,是一种三十年期的政府债券,未来三十年才兑现

耶鲁公开课 - 金融市场课程节选

While little comprehensive European government bond-trading data is publicly available, one measure shows liquidity is in steep decline.

WSJ: Calm Market, Rough Trading

Quite possibly, but I see a crucial difference between the end of 2012 and the end of 2011: The ECB's government bond-buying program, announced earlier this year.

CNN: Eurozone still has mountain to climb

The government would like to see the ECB restart its government bond-buying programme and wants the nascent European Stability Mechanism to be retooled as a bank bailout fund.

CNN: ECB rejects Madrid plan to boost Bankia