Do not actually own any of the underlying bonds.
实际上不拥有任何优先债券。
CDS contracts allow investors to take on credit risk without buying the underlying bonds.
CDS合同使投资人不用购买合同下的债券就能参与这类债券的风险。
The asymmetry encourages speculating on the short side, which in turn exerts a downward pressure on the underlying bonds.
这种不对称助长了对卖空的投机，反过来对基础债券施以下行压力。
This asymmetry encourages speculating on the short side, which in turn exerts a downward pressure on the underlying bonds.
这种不对称性鼓励人们做空，这又成了对CDS中的债券的卖压。
What we must take away from this is that CDS are toxic instruments whose use ought to be strictly regulated: Only those who own the underlying bonds ought to be allowed to buy them.
我们从中应该学到，CDS是一种有害的金融工具，其用途应该被严格规范：只有持有其所包含的债券的个人或机构才能购买。
The auctions will involve "cash settlement", rather than a physical exchange of the underlying bonds, which is needed because the value of swaps far exceeds the face value of those bonds.
拍卖将包含“现金结算”而非优先债券的实物交易。他因互换价值远超过这些债券的账面价值而存在。
Underlying this analysis, we have estimates of the expected returns on assets, notably, the expected returns on stocks and bonds.
凭借这个分析，我们可以估算出资产预期投资收益，特别是股票和债券的预期收益。
For Treasury bonds, rising interest rates are the main form of risk; for corporate, municipal and other bonds, the financial soundness of the underlying assets raises another kind of risk.
对于美国国债来说，利率上调是主要的风险；而对于公司债券、市政债券和其他债券，其相关资产的财政稳健程度又会引发另一种风险。
In such a setup, the buyers assume that someone will be betting against the bonds, so the quality of the underlying credit is key.
在这场骗局中，买主以为会有人购买看跌的债券，因此信贷质量成了关键。
Many of Bear Stearns's pending trades in investments known as derivatives, which are tied to underlying assets like stocks and bonds, would be subject to seizure by creditors.
许多贝尔斯登未来的交易都属于衍生产品，它们与股票和债券这样的优质资产密切相关，破产保护后这些资产将强制分给债权人。
The index's movement implies a 5% loss rate, pressuring banks to mark down the value of their bonds even though the underlying properties are still generating cash.
该指数的走势显示损失率达5%﹐银行因此被迫减记债券价值﹐尽管房地产本身仍在带来现金收入。
To investors stocks represent fractional ownership of underlying businesses and bonds are loans to those businesses.
对投资者而言，股票代表的是对应企业的部分所有权，而债券是这些企业的贷款。
The bonds are callable, to reflect the prepayment risk of the underlying mortgages.
该债券是可赎回债券，以反映…('可随时偿还'这个说法不严谨)。
An unexpectedly sharp increase in underlying U. s. Treasury yields would likely trigger a widening of credit spreads on emerging market bonds.
构成美国国库债券基础的潜在收益出现任何一次始料不及的大幅增长，都可能会引发新兴市场债券信贷差幅扩大的局面。
Essentially, those who buy equities receive securities with an underlying fixed return - just like those who buy bonds.
本质上，买股票的人得到的是内在的固定收益-和买债券的人一样。
The market price of convertible bonds is sensitive to investors' expectations on the future price change of the underlying stocks.
本文试图探讨可转换债券市场价格与其基准股票市盈率间的关系。
For example, can be long convertible bonds and short the underlying issuers equity.
例如，可长可换股债券及短期发行人的基本权益。
For example, can be long convertible bonds and short the underlying issuers equity.
例如，可长可换股债券及短期发行人的基本权益。
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