即使是那些被极度诋毁的信用违约掉期也有它们的价值。
Even the much-maligned credit default swaps have their uses;
AIG仍有一个巨大的信用违约掉期产品组合。欧洲的银行正是利用这些组合来玩弄资本规则的。
It still has a giant portfolio of credit-default swaps that European Banks use to game capital rules.
一些人估计通过电子方式产生的信用违约掉期接近万亿美元，而它们都没有正式文件证明而且难于理解。
By some estimates close to a trillion dollars in credit default swaps out there were created electronically and are now undocumented and little understood.
这场信心危机的最显著表现，以及巨量金钱下注的筹码之一，是市场中的信用违约掉期（CDS）合约。
The most obvious manifestation of this crisis of confidence, and one on which large sums of money are already being wagered, is in the market for credit-default swaps (CDS).
只有少量的数据与将我们的目标公司 (Agrium Inc.)引用为命名实体的信用违约掉期相关。
Only a small amount of data relates to credit default swaps that reference our target company (Agrium Inc.) as the named entity.
至少，这是市场的看法，这是根据如果借款人违约而需要支付的信用违约掉期的价格而得出的结论（见图表）。
That at any rate is the market view, according to the price of a credit-default swap which pays out if the borrower defaults (see chart).
对于公司的信用违约掉期而言，在申明该公司发生了违约事件并赔付补偿金之前，对其债务偿付都有一段宽限期。
A corporation generally has a grace period on its debt payments before a credit event is declared and protection is paid off.
国内某些市场已受到惊吓。这个国家的信用违约掉期表明到了2015年委内瑞拉拖欠债务的可能性起码有50%。
Some in the markets have taken fright, too: the country's credit-default swaps imply a 50% chance of default by 2015.
根据一家叫Markit的研究公司的信息，代表着银行贷款成本的指数——欧洲的信用违约掉期（CDS）的收益差稍有提高。
Credit-default-swap (CDS) spreads, a proxy for banks’ borrowing costs, improved slightly across Europe, according to Markit, a research firm.
他的信用违约掉期交易每天都从交易对手方那里获得回报，晚上鲍尔森可以酣睡，而包括主要投行在内的他的那些交易对手方却损失惨重。
His CDS trades were paid off by his trading partners on a daily basis, allowing Mr.Paulson to sleep at night as trading partners, including leading investment Banks, faltered.
他的信用违约掉期交易每天都从交易对手方那里取得回报，晚上鲍尔森可以酣睡，然而包括主要投行在内的他的那些交易对手方却损失惨重。
His CDS trades were paid off by his trading partners on a daily basis, allowing Mr. Paulson to sleep at night as trading partners, including leading investment Banks, faltered.
例如，据英国的数据搜集公司Markit GroupLtd.称，上周巴克莱的信用违约掉期成本就从65个基点上升至78.9个基点。
In the past week, for example, Barclays's credit default swaps have increased to 78.9 basis points from 65, according to London data firm Markit Group Ltd.
另据野村控股公司和CMA的价格统计，截至悉尼时间上午9点3分，必和必拓的信用违约掉期上涨12个基点，为84个基点，创下5月7日以来最大涨幅。
Credit-default swaps on BHP jumped 15 basis points to 87.5 basis points as of 10:14 a.m. in Sydney, the biggest gain since May 7, according to prices from Nomura Holdings Inc. and CMA.
一家研究机构CreditSights认为，该公司在那些所谓超级高端的信用违约掉期(CDSs)上的账面损失，以及其主营业务的亏损并没有超出预计。
According to CreditSights, a research firm, the loss of value in these so-called super senior credit-default swaps (CDSs), as well as the company's operating businesses, was no worse than expected.
在AIG引起的各种喧嚣声中，我们忽略了最重要的一个教训：AIG失败是因为它在既没有补偿措施，也没保护的情况下有出售了大量了的信用违约掉期(CDS)。
In all the uproar over AIG, the most important lesson has been ignored. AIG failed because it sold large amounts of credit default swaps (CDS) without properly offsetting or covering their positions.
比如，无线广播巨头清晰频道通信公司Clear Channel Communications的信用违约掉期卖家们，日前要价近62美分以确保该公司债务的美元价值。
Sellers of credit default swaps for radio giant Clear Channel Communications, for example, currently want nearly 62 cents to insure a dollar's worth of that company's debt.
查理·莱德利(Charlie Ledley)和杰米•麦(Jamie Mai)两人都是对定价偏差的股票很感兴趣的投资者，他们认为建立在抵押担保债券之上的信用违约掉期是便宜的不可错过的好买卖。
Charlie Ledley and Jamie Mai, two investors with a penchant for finding mispriced options, reckoned that credit-default swaps on mortgage-backed bonds were just too cheap a trade to pass up.
此外，信用违约掉期和债券的价格往往一起移动，而不是一个驱使另一个的价格。
Moreover, CDS and bond prices have tended to move together, rather than one driving the other.
该应用程序的一个方面可能需要获得关于信用违约掉期交易中引用的公司的当前市场数据。
One aspect of this application might need to obtain current market data about the firms referenced in credit default swap trades.
更重要的是，摩根大通是柜台交易衍生品市场的巨头，在信用违约掉期业务上长期处于霸主地位。
More importantly, it is a giant in the over-the-counter derivatives market, and number one by a long way in credit-default swaps.
我们使用与清单3中相同的查询来从DB2获得信用违约掉期，所以这里不再重复它。
We use the same query as in Listing 3 to obtain credit default swap from DB2, so we won't repeat it here.
就跟住在烟火制造厂家附近的居民要多付房屋保险一样，当国债发行人的资金状况日益恶化情况下，信用违约掉期也会变得更贵。
Just as house insurance will cost more for those living next to a fireworks factory, a CDS becomes more expensive when the finances of the bond issuer deteriorate (see chart).
自从市场崩溃，信用违约掉期的发行少了很多。
Since the market collapsed, far fewer credit-default swaps have been issued.
巴克莱估算，单单在葡萄牙信用违约掉期的交易量就超过现金债券交易量的10%。
Barclays calculates that only in Portugal are CDS trading volumes bigger than 10% of cash-bond volumes.
主权信用违约掉期通常用美元计价(美国债务的信用掉期除外，为欧元计价)。所以，外汇风险的加入会把情况搞得更加复杂。
Sovereign CDSs also tend be priced in dollars-except for swaps on America's debt, which are priced in euros-so currency risk blurs things too.
尽管信用违约掉期市场的交易员更相信希腊会进行债务重组，但是这周希腊否认他们有这种计划。
GREECE denied that it was planning to restructure its debt this week (see Economics focus), even as traders in the credit-default-swaps market made bigger bets that it would.
尽管信用违约掉期市场的交易员更相信希腊会进行债务重组，但是这周希腊否认他们有这种计划。
GREECE denied that it was planning to restructure its debt this week (see Economics focus), even as traders in the credit-default-swaps market made bigger bets that it would.
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