And indeed over time the extra yield offered by these bonds more than compensated investors for the risk of default.
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。
Driving up the price of bonds reduces their yield, and in effect the interest rate.
推高债券价格就会降低它们的收益率，结果即是降低利率。
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.
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。
The best way of looking at these bonds is that investors trade inflation protection for a lower starting yield.
理解这些债券的最好办法是，投资者用通胀保值来换取低初始收益。
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。
In such an environment, equity interests in the form of stocks, real estate or even high yield bonds become re-rated.
在此环境下，股票、房地产以至高收益债券的价值都遭到重新评估。
Most measures of risk, such as stockmarket volatility or the spread (extra yield) on corporate and emerging-market bonds are low.
大多数对风险的测量，例如股票市场波动或者公司和上升市场债券的收益率差（超额收益），都显示它很低。
Italy managed to complete an auction of 5-year bonds today, but the yield on the debt rose to 6.29%.
意大利今天成功完成了五年期债券的拍卖，使债券收益上升了6.29%。
Prices of corporate and emerging market bonds are quoted as spreads (interest differential) over relevant yield curve benchmarks in inter bank dealings.
在银行与机构投资者的交易盘市场，公司发行的债券和新兴市场债券(emerging market bonds)的报价是基于相关收益率曲线基准的利差(spreads/interestdifferential)。
If five-year Treasury bonds are yielding 1.25%, as they were on November 2nd, then a negative 0.55% real yield on inflation-linked bonds implies an expected inflation rate of 1.8%.
如果在11月2日5年期国债收益率为1.25%，那么指数关联型债券实际收益率为- 0.55%就意味着，预期通胀率为1.8%。
Indeed does it make sense for German ten-year bonds to yield more than Treasuries when the inflationary rhetoric of the European Central Bank looks much more hawkish?
在欧洲央行反通胀论调远比美联储坚定的情况下，10年期德国国债收益率超过美国国库券还有实际意义吗？
The Italian Treasury sold 8 billion euros in six-month bonds at a yield of 1.988%, which is up sharply from the 1.657% paid during the last sale of government debt.
意大利财政部出售的80亿欧元6个月公债，收益率为1.988%，明显高于上次售债时的1.657%。
In America the issuance of leveraged loans is growing much faster than high-yield bonds, though the overall amounts are still smaller.
在美国发行杠杆贷款的的速度已经比高收益的债券快的多，尽管总体的数量依然比较小。
After years of loose money in financial markets, some observers think the mortgage morass could cause investors to rethink their attitude to other forms of credit risk, such as high-yield bonds.
一些观察家认为，金融市场经过多年的头寸松之后，房贷泥潭可能会使投资者重新思考他们对其他信用风险形式的态度，比如高收益债券。
Charles Himmelberg, a credit strategist at Goldman Sachs, forecasts that 14% of high-yield bonds will default this year, with the same proportion going phut in 2010.
查尔斯·汉密尔伯格，高盛信贷策略分析师，预测今年将有14%的高收益债券无法偿付。2010年将有同样比例的债券完蛋。
All Treasury bonds that mature before 2016 offer a yield of less than 1% a year; even the ten-year bond pays less than 2%.
所有国债在2016年到期前每年提供1%不到的收益率，即使是长达十年的国债，收益率也不到2%。
So one possible discount rate is the state's cost of borrowing, the yield on its municipal bonds.
这样折算率就是国家的借款成本，也就是市政债券的收益率。
This is really all part of the same "search for yield" that has seen investors pile into other high-income assets, such as corporate bonds and emerging-market debt.
这和“搜寻收益”，也就是投资者蜂拥进入其他的高收益资产，例如公司债券和新兴市场债，如出一辙。
He thinks that deflation is even greater than the official estimate of 1.5%, which means that, even at 1%, Japanese bonds are offering a very nice real yield.
他以为，通货紧缩要是高于官方评估的1.5%，也就是说，即使通货紧缩只是1%，日本债券的收益也相当不错。
Investors rushed for the safety of Treasury bonds, where the ten-year yield dropped back below 2%.
投资者奔向安全的国债，在那里十年的产量降到了2%。
Mike Thompson of Thomson Financial says that, since 1991, the correlation between the performance of high-yield bonds and the S&P 500 index has been pretty low—less than 20%.
汤姆逊金融公司的迈克•汤姆逊这样说道，自1991年，高收益债券和标普500指数之间的相关性就非常低，不到20%。
The negative yield on inflation-linked bonds is just a corollary of the very low yields on conventional debt.
通胀保值债券的负收益不过是常规债务低收益的必然结果。
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%.
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 %。
The fixed-rate element normally carries a higher yield than that of Treasury bonds with the same maturity.
而固定利率一般比同一期间到期的美国国债收益率高。
If you compare the yield on conventional bonds with the yield on the index-linked Treasury bond that matures in 2028, the result is an implied inflation rate of 2.4%.
如果比较一下传统债券和2028年到期的指数关联型国债的收益，结果是隐性通胀率为2.4%。
Bonds are a better bet, but the kind of bond that will deliver yield this year isn't a traditional choice.
债券更加保险，但今年增长的债权类型将不是投资者一般选择的那种。
THE yield of Treasury bonds is arguably the single most important indicator in financial markets.
美国国库券收益率无疑是最重要的金融市场指标。
THE yield of Treasury bonds is arguably the single most important indicator in financial markets.
美国国库券收益率无疑是最重要的金融市场指标。
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