Second, the premium paid to hold the English-law governed bonds is quite small, except when default fears spike.
第二个问题就是，为持有英国法律管辖内公债所支付的溢价相当低,除非买入时围绕违约的忧虑激增。
Under a CDS, one party seeks to protect itself against the default of a bond issuer by paying an annual sum—the equivalent of an insurance premium—to someone else who wants to take on the risk.
在信用违约掉期条款下，一方为了保护自己免受国债发行者债务违约的风险，支付一定年费（相当于保险费）给第三方，让第三方来承担相应的风险。
A CDS is just a contract between a buyer, who pays a premium, and a seller, who will make a payment to the buyer if a bond default occurs.
CDS只是一份合同，买家支付保费，卖家在出现债券违约时向买家支付本息。
Investors charge a big premium to hold Greek and Irish bonds; the yield gap with Bunds has widened in the crisis (see chart). That partly reflects rising fears of default.
投资者收取高额的希腊和爱尔兰国债溢价，在危机中与德国国债的收益率差加大(见图)，该图部分反映了对违约风险日益增长的担忧。
To insure against default, the buyer of a CDS pays the seller a premium, whose value is denoted in basis points.
为了针对违约提供保险保护，购买CDS的交易者向卖家支付以基点表述的保费。
In this model, the joint distribution and marginal distributions of default times are derived by employing the change of measure, so the fair swap premium of a CDS can be valued.
在这个模型下，通过测度变换，可以得到两公司违约时间的联合分布及各自的边际分布，从而可以对违约互换进行定价。
In this model, the joint distribution and marginal distributions of default times are derived by employing the change of measure, so the fair swap premium of a CDS can be valued.
在这个模型下，通过测度变换，可以得到两公司违约时间的联合分布及各自的边际分布，从而可以对违约互换进行定价。
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