第二步是提高长期债券利率。
日本的债务问题比意大利严重的多，而日本的长期债券利率只有1%左右，而意大利为7%。
Japan is much more deeply in debt than Italy, but the interest rate on long-term Japanese bonds is only about 1 percent to Italy's 7 percent.
一年前我们预测美国长期债券利率会上升，在过去的一年里30年期国债的确从2.5%上升到4.6%。
One year ago we predicted that US long bond rates would rise. This is exactly what happened and the 30 year Treasury Bond yield went from 2.5% to 4.6% during the year.
在一个长期债券利率为7%的世界里，我们当然希望我们把税后的现金流至少用10%的折现率折现。
In a world of 7% long-term bond rates, we'd certainly want to think we were discounting the after-tax stream of cash at a rate of at least 10%.
当短期利率接近于零，长期债券的收益率较高时，这是一种盈利的战略，目前的情况就是如此。
This is a profitable strategy when, as now, short-term interest rates are close to zero and the yields on longer-term bonds are higher.
现在快速的债务重组，也许能让那些对英国借贷忧心忡忡的债券警卫们保持冷静，而且能通过长期保持低利率在一定程度上予以补偿。
A quick workout now would calm bond vigilantes who fret about Britain's borrowing, and could to some extent be offset by keeping interest rates lower for longer.
但是对于一个通胀，债券利率和短期利率都有升高趋势的世界，它肯定是和长期牛市下的世界完全相反了。
But a world in which inflation, bond yields and short rates were trending higher would be the complete opposite of that which has prevailed during the long bull run.
美联储预期将着手第二轮的债券购买，以此来降低长期利率，推动美元兑欧元和日元下跌。
Expectations that the Federal Reserve will undertake a second round of bond purchases to lower long-term interest rates has pushed the dollar down against the euro and the yen.
而且，托1982年以来的长期低通胀的福，这个理论好像在发挥作用：债券名义利率陡降股价稳步上升。
And it seemed to work, thanks to the long period of disinflation from 1982 onwards, which saw nominal bond yields fall sharply and share prices rise substantially.
由于联邦资金利率已经接近于零，因此联储开始买入较长期债券，以降低长期资金利率。
Because the federal funds rate is already close to zero, the fed has been buying up bonds with a longer maturity to drive down long-term interest rates.
它还可以设置较长期利率的目标，例如针对那些2到3年的债券。
It could also announce targets for longer-term rates, such as those on two - or three-year bonds.
不仅如此，信用度较好的企业现在还能发行长期债券，利率甚至比金融危机前更低。
Debt of longer maturity is also available to creditworthy firms at lower interest rates than before the financial crisis.
当自治区、大学、博物馆等其他机构需要长期租借物品时，拍卖利率债券可以使你以短期利率支付利息。
Auction rate notes gave municipalities, universities, museums and other issuers a vehicle to borrow long, but pay a shorter term interest rate.
所以联储希望通过购买长期债券以降低长期利率。
So the Fed wants to push down longer-term rates by buying longer-term government bonds.
美联储正试图通过购买按揭债券或者再加上国债，来推低长期利率。
The Fed is now trying to push down long-term interest rates by buying mortgage-backed and perhaps Treasury securities.
此外，花旗截止6月底为所有长期债券支付的利率总计为3.31%，其无担保债券的利率比这一利率高出2.19个百分点。
What is more, Citi's nonguaranteed bond cost 2.19 percentage points more than the 3.31% aggregate interest rate it was paying on all its long-term debt at the end of June.
经理：当然可以，我们向所有顾客提供这种帐户。我们的储蓄债券章程对长期存款储户提供最高利率。
Manager: Yes, of course. We offer it to all our customers. Our Savings Bond program offers our highest rate of interest for long-term savers.
央行可以选择上调短期利率，或者抛售长期资产以实现债券收益率曲线陡峭化。
Central Banks could raise short-term interest rates or they could steepen the yield curve by selling longer-dated assets from their balance-sheets.
同时，联储会通过扩大购买长期债券来抵消中国撤出对利率造成的影响。
Also, the Fed could offset any interest-rate impact of a Chinese pullback by expanding its own purchases of long-term bonds.
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.
息差交易。例如：在利率偏低时，投资者借入短期利息债券（1.5%）同时买入长期债券（4.5%），以此赚取可观息差；
For example, when the interest rate stays low, the investor borrows short term bons with 1.5% interest rate and buy long term bonds at 4.5% so as to make good profit.
对通胀的担忧也拉高了日本长期债券的收益率﹐后者影响著公司贷款和房屋抵押贷款的利率。
Inflation worries also are lifting Japan's long-term bond yields, which influence rates for corporate loans and home mortgages.
对通胀的担忧也拉高了日本长期债券的收益率﹐后者影响著公司贷款和房屋抵押贷款的利率。
Inflation worries also are lifting Japan's long-term bond yields, which influence rates for corporate loans and home mortgages.
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