事实上，“垃圾债券”被叫错了名字，因此也被误解了。
The truth is that junk bonds were misnamed, and therefore misunderstood.
垃圾债券和高风险贷款越来越多。
More junk bonds are being issued than ever before, more risky loans are being offered.
曾经人们嗤之以鼻的垃圾债券如今成为主流趋势。
2009年底垃圾债券的反弹并无任何中止的迹象。
A rally at the end of 2009 in junk bonds showed no signs of abating.
评级机构将匈牙利的国债放在了靠近垃圾债券的位置。
Rating agencies have put Hungary's debt close to junk status.
投资者们热情十足，疯狂购买垃圾债券和商品期货等高风险资产。
Investors have felt sufficiently flush with cash to buy high-risk assets, such as junk bonds or commodity futures.
高盛积累的垃圾债券总额已从125亿美元上升到200亿美元。
Goldman Sachs, for one, has upped the size of a junk debt-fund it is raising, from $12.5 billion to $20 billion.
虽然违约率最近不稳定，但是过去几个月垃圾债券的价格急速上升。
Although they have wobbled a bit lately, junk-bond prices have recovered sharply in the past few months.
同时它还发行垃圾债券，有趣的是中国仍然相信它的价值。
At the same time it still issue junk bonds and the funny thing is the Chinese still believe it has values.
这也许会使得该基金持有同种类的波动资产，例如股票、商品或垃圾债券。
This may cause it to hold the same kind of volatile assets, such as equities, commodities and junk debt.
一项针对垃圾债券的姊妹计划本月最终通过，尽管规模大大缩小。
A sister programme for toxic securities finally got going this month, albeit in substantially scaled-down form.
艺术品，新兴市场股票，垃圾债券和不动产等几乎所有资产的价格都升高了。
Almost every asset has increased in price, including art, emerging-market shares, junk bonds and property.
垃圾债券在2008年下跌约27 ％，它是在过去的20年以来最糟糕的表现。
The junk market declined about 27% in 2008, by far the worst showing in the past 20 years.
同时，波士顿科技公司的债券信用评级在这个月降为“垃圾债券”的状态。
Meanwhile boston scientific's credit standing with ratings agencies this month fell into junk bond territory.
然而，即使在这种情况下，凭着20 %的平均收益率，垃圾债券可以提供不错的回报。
Yet, with a 20% average yield, junk bonds could provide nice returns, even in that scenario.
这些被评级的公司债券——无论他们是否是垃圾债券——过去曾是市场成熟程度的标志。
These rated corporate bonds—whether junk or not—used to be the height of sophistication.
这些印尼人认为用钱可以收买，就像印尼公司的垃圾债券收买哈韦斯特城的法庭！
These Indonesians thinks using money can buy their way thru just like the junk bonds of an Indonesian company abused by the charge-in-court leaders of City Harvest!
而且实际上很长时间里这些垃圾债券的额外收益，远高于违约的风险给投资者带来的损失。
And indeed over time the extra yield offered by these bonds more than compensated investors for the risk of default.
垃圾债券的坏账比率，在过去的12个月里仅有3.4 ％ ，肯定会在2009年飙升。
Junk-bond default rates, which ran at just 3.4% in the past 12 months, are certain to spike in 2009.
百般无奈之下，传统危机基金开始调整食谱，转向高风险但偿还能力尚可的垃圾债券和高收益的债务。
Traditional distress funds have drifted reluctantly into risky, but still solvent, junk bonds and high-yield loans to keep business ticking along.
到2009年不会有大量的垃圾债券能达到20 ％的收益率，因为那时候整个市场的收益率提高了。
It wouldn't take a lot for junk to return 20% in 2009, given the elevated yields throughout the market.
根据评级机构标准普尔（标普），到10月底截至的过去一年中，美国垃圾债券的违约率只有2.9％。
Over the year to the end of October, only 2.9% of American junk bonds had defaulted, according to Standard &Poor’s (S&P), a rating agency.
杠杆贷款，比垃圾债券评级要高，现在交易的平均价格约为70美分，到期收益率为10 %至15 %。
Leveraged loans, which are senior to junk bonds, now trade for an average of about 70 cents on the dollar and carry yield to maturities of 10% to 15%.
垃圾债券大幅度升值，其他减值债券，公司票据都在高位交易，这就意味着你的收益在减少，而风险在增加。
Because of the big rally in junk and other distressed bonds, corporate issues are trading at higher prices, which means you get less yield and more risk.
现在垃圾债券发行者支付的利差大约要比国债高15个百分点以上，而去年6月仅为2.5个百分点。
Junk issuers are now paying around 15 percentage points more than treasuries, compared with just two-and-a-half points in June last year.
现在垃圾债券发行者支付的利差大约要比国债高15个百分点以上，而去年6月仅为2.5个百分点。
Junk issuers are now paying around 15 percentage points more than treasuries, compared with just two-and-a-half points in June last year.
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