货币的支付形式有长期债券和短期债券。
The currency is paid in the form of long-term bonds and short-term bonds.
陶氏化学公司和电话电报公司的短期债券
对于一些银行来说，短期债券市场也离此不远了。
短期债券收益率会受到人们对于官方利率预期的推动。
Short-term bond yields are driven by expectations about the outlook for official interest rates.
换句话说，长期债券的收益要高于短期债券。
In other words, long-dated bonds offer a lot more income than short ones.
EFSF可以保证按底线价格从该计划涵盖的国家购买短期债券。
The EFSF could guarantee to buy, at a floor price, short-term bonds from programme countries.
短期债券利率只有0.5%，而十年期国债的收益率为可怜的4%。
Short-term rates are just 0.5% and ten-year government bonds yield a lowish 4%.
很多人没有想到的是，股票相比短期债券而言，存在一个巨大的溢价。
It surprises many people that stocks have paid such an enormous premium over the return on short-term debt.
昔日繁荣的加州等地，现在只能靠发行短期债券缓解资金短缺。
Some prosperous states including California, have issued short-term bonds to alleviate the shortage of funds.
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).
他们对这些国家的股票预期收益与，国债或者短期债券作出比较。
They show the expected return on stocks versus bonds or short-term debt for a whole range of countries.
为了补偿这种价格波动的风险，长期债券的利率通常都比短期债券高。
To compensate for that risk of price fluctuation, longer-term bonds usually have higher interest rates than shorter-term issues.
最早的问题出现在超短期债券基金上，许多投资者认为这种基金的安全程度堪比现金。
Some of the first cracks appeared among ultrashort bond funds, which many investors regarded as almost as safe as cash.
正是由于他们从短期债券市场的突然撤出才导致了资产支持商业票据的失灵。
It was their sudden withdrawal that caused the market in asset backed commercial paper (ABCP) to seize up.
西班牙可能仍可抵挡纾困计划一段时间，它还有一些现金并能发行短期债券。
Spain may yet be able to fend off a bail-out for some time. It has some cash reserves and can still borrow at short maturities.
上节课提到的另一条内容是,股票市场的预期收益,与短期债券的预期收益,存在着巨大差异
The other thing that I mentioned last time was that there seems to be a really big difference between the expected return on the stock market and the expected return on short-term debt.
当周三葡萄牙出售了大约十点五亿美元的短期债券，其债务成本支出增长的非常迅速。
Portugal's borrowing costs rose sharply Wednesday as it sold almost one and a half billion dollars in short-term securities.
所以，从通常的只购买短期债券美联储转为现在的购买长期债券——这种政策通常被称为“量化宽松”。
So the Fed is shifting from its usual policy of buying only short-term debt, and is now buying long-term debt — a policy generally referred to as “quantitative easing.
我是指，你们真的…你们也会怀疑，这里是不是少了点什么，如果股票收益率高出短期债券收益率那么多？
I mean, do you really — you might wonder, aren't people missing something if the excess return is so high of stocks over short-term bonds?
另外一个使债券市场承压的因素是美联储决定买入目标在成熟的短期债券在二以及十年之间。
Another factor that has weighed on the bond market was the Federal Reserve's decision to target its buying on shorter-dated bonds maturing between two and ten years.
债券的到期日越长，可能损失的风险就越大，因为长期债券的价格要比短期债券更加反复无常。
The longer the maturity of the bond, the greater is the risk of loss because long-term bond prices are more volatile than shorter-term issues.
投资者在前一周的葡萄牙债券短期债券拍卖中要求很高的溢价，这不利于即将展开的债券出售。
Investors charged a hefty premium to hold short-term Portuguese bonds in an auction last week, which doesn't bode well for the upcoming debt sales.
而对于全球负债和短期债券到期最高的日本，到2011年底这些项目将占其GDP的一半以上。
Japan, with the world's highest government-debt burden and short maturities, must raise funds worth more than 50% of GDP by the end of 2011.
而对于全球负债和短期债券到期最高的日本，到2011年底这些项目将占其GDP的一半以上。
Japan, with the world's highest government-debt burden and short maturities, must raise funds worth more than 50% of GDP by the end of 2011.
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