国债流通市场，又称二级市场，与国债一级市场互为依存。
The circulating market of national debt, which is also called secondary market, has a mutual relationship with first market.
这是一个设在美联储的资本储备，由财政部通过销售新的国债提供资金，但该账户的过剩资本是“受困”的，并不会立即变为流通货币。
This is a capital reserve in the Fed financed by the Treasury selling new debt, but its excess capital is "trapped" and does not immediately reach currency in circulation.
但是大额的联合债券发行即使对信用风险很低的国家也有益，因为这种债券在流通性上足可匹敌美国国债市场。
But a large collective bond issue could have benefits even for countries with low credit risk, as it would rival America's Treasuries market for liquidity.
但是，再次长期债券通过流通债券期限结构的改变而对冲这种影响(通过从长期国债转向中期国债)。
But, again, the Treasury could offset this effect by changing the maturity structure of its outstanding debt (by shifting toward bills and away from bonds).
在此基础上，文章结合国债规模、货币流通量和国债的挤出效应，提出控制我国国债规模的政策。
Combining government bond scale, currency flow volume and crowding out effects, the paper puts forward to control China's government bond scale.
在此基础上，文章结合国债规模、货币流通量和国债的挤出效应，提出控制我国国债规模的政策。
Combining government bond scale, currency flow volume and crowding out effects, the paper puts forward to control China's government bond scale.
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