为什么地方债券(国债)会陷入困境？
中国经营报消息，按照今年的发债规模，预计明年地方债券置换存量债务将结束。
CHINA BUSINESS JOURNAL news, according to the bond issue size of this year, it is expected that next year's local debt replacing stock debt will end.
多数银行的企业客户可能流入地方债券市场，为弥补损失，必须建立起客户或投资银行服务。
Most also expect to lose corporate customers to local bond markets and to have to build up their consumer - and investment-banking operations to compensate.
他们希望，地方债券不太可能违约这一普遍观点，将被证明是个跟房价永远不会降一样的错误认识。
They hope the widely held view that muni defaults are unlikely will be proved as big a misconception as the notion that house prices never fall.
这些地方债券是州财政收入的重要来源，因此如果法案通过，更为透明的会计准则将事实上成为强制性要求。
Since these are a vital source of state financing, more transparent accounting will in effect become compulsory if the law passes.
自从上世纪90年代早期地方债券市场全线崩溃以来，有关部门对公司发行常规的长期债券进行了严格限制。
Since the early 1990s when all the local bond markets crumbled, some relevant authorities have imposed strict restriction upon the long-term regular bond issued by corporations.
美国所得税的税基不包括：（1）州和地方债券的利息；（2）雇主向养老金和医疗计划的缴款；（3）赠与和遗产。
The US income tax base excludes:(1) interest on state and local bonds, (2) employer contributions to pension and medical plans, (3) gifts and inheritances.
来自加州的众议员DEVIN .Nunes已经提出一个法案，要求各州转而采用更加透明的会计准则，违者将被禁止发行免税的地方债券。
Congressman Devin Nunes of California has put forward a bill that will require states to move to more transparent accounting, on pain of being barred from issuing tax-exempt municipal bonds.
但是如果它在后年拒绝接受B评级的债券，它将可能为希腊或其他的地方带来麻烦。
But should it refuse to take B-rated bonds after next year, it could spell trouble for Greece and perhaps elsewhere.
市政债券的利息收入不用交纳联邦利息税，利息收入在所发行的州也不用交纳州和地方所得税。
Their interest income is except from federal income taxation. The interest income also is exempt from state and local taxation in the issuing state.
2007年约40%的秘鲁地方货币债券为短期债券，(即在一年以内到期)。
In 2007 around 40% of Peru's local-currency debt was short-term (ie, maturing in less than a year).
这些经济学家说，这意味着中国降低了美国国债的新增购买量，而欧洲债券市场是除此之外惟一有足够容量吸收中国大量外储的地方。
They said that suggested China has reduced new purchases of Treasurys, and that 'Europe is the only other place with a deep enough debt market to absorb a significant amount' of the total.
实际上，最近以来奥巴马先生一直折腾的是没有钱的地方，他在冻结非债券的可自由支配开支方面达成很大的协议，而这方面的开支只占预算的12%。
Indeed, Mr. Obama has lately been going where the money isn’t, making a big deal out of a freeze on nonsecurity discretionary spending, which accounts for only 12 percent of the budget.
可能有些人之后在其他地方更便宜地买到了他们需要的债券。
Some may subsequently have bought the bonds they needed more cheaply elsewhere.
如银行持有日本债券，因为他们在其它地方找不到更好的回报了。
Banks, for example, hold JGBs because they cannot find better returns elsewhere.
嗨，又一个刺激经济的武备竞赛！在你工作或存钱的地方买美国储蓄债券吧！
Hey, another arms race to stimulate the economy! Buy US Savings Bonds where you work or save!
这些政策的目的是刺激经济，但却推动全球投资者转向可以获得更多回报的地方——比如基于美元的股票和债券。
Those policies are meant to stoke the economy, but they are prompting global investors to seek better places to get a return on their money - like dollar-based stocks and bonds.
我不会期望看到每年增加在最近一波下跌，但股市将日益成为一个更好的地方要超过债券，将获得被毁。
I would not expect the annual increases seen in the recent down wave, but stocks will increasingly be a better place to be than bonds, which will get destroyed.
债券买主地方公债指数。
俄罗斯地方市政债券市场在俄国家有价证券市场中也占有较重要的地位。
Russia's capital market divides into securities market of nation and securities market of companies.
俄罗斯地方市政债券市场在俄国家有价证券市场中也占有较重要的地位。
Russia's capital market divides into securities market of nation and securities market of companies.
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