People are willing to lend to these organizations at low interest rates because they think there's an implicit government guarantee.

人们愿意以低利率,向这些组织提供融资,因为他们认为这里有政府默认的担保

耶鲁公开课 - 金融市场课程节选

The markets are saying they're going to go all the way back to one, which was the low for short-term rates.

市场正在表明,他们将会全力以赴回归到，短期利率很低的时代。

耶鲁公开课 - 金融市场课程节选

At that time, the Fed had cut the Federal Funds Rate to 1%, we had very low short rates.

当时联储局将联邦基金利率降至1%,短期利率非常低

耶鲁公开课 - 金融市场课程节选

So, if a bond was issued when interest rates were lower, they might have a 4% coupon when the prevailing rate is 6%.

所以，如果一只债券在利率很低的时候发行，在汇率为6%的的时候，它们可能有一个4%的票息。

耶鲁公开课 - 金融市场课程节选

The discount rate was a policy variable set by the Fed and it was typically fifty basis points below the Federal Funds Rate.

贴现率是一个联邦可改变的政策,并且它比联邦资金利率通常,低五十个基本点。

耶鲁公开课 - 金融市场课程节选

Low-income people were being given adjustable rate mortgages with very low starter rates, called "teaser rates," " that would be raised in the future.

低收入人群贷款时会享受到刚开始利率巨低的可调利率,但是随着时间的推移利率会慢慢增长“,这就是所谓的“引逗利率。

耶鲁公开课 - 金融市场课程节选

Buying them tends to push up the price; that tends to influence the yield down so it encourages a lower level of interest rate.

买进它们，导致价格上升；,导致参数降低,所以它鼓励一个低的利率水平。

耶鲁公开课 - 金融市场课程节选

They were worried that if the discount rate is fifty basis points below the Federal Funds Rate then it's going to hit zero and that would be embarrassing; so they moved it.

他们担忧的是,如果贴现率比,联邦资金利率低五十个基本点,那么它将会接近零点,并且那将会很尴尬；所以他们改变了它。

耶鲁公开课 - 金融市场课程节选