这就使得必须持有无风险资产以满足流动性要求的银行们松了口气，因为这意味着它们可以持有较疲软国家的主权债务。

This induced Banks that were obliged to hold riskless assets in order to meet their liquidity requirements to earn a few extra basis points by loading up on the weaker countries' sovereign debt.

youdao

以银行的财政状况为例，许多人利用国债作为无风险资产以实现资本用途。

Many use Treasury bonds as the risk-free asset for capital purposes. As capital Economics points out.

youdao

美国是全球最大的经济体，拥有流动性最强的金融市场，管理着全球最重要的储备货币，因此，美国国债已经被视为一项全球性的无风险资产。

Since America is the world's largest economy, has the most liquid financial markets and operates the world's premier reserve currency, the Treasury bond has been seen as the global risk-free asset.

youdao

It's like a fourth asset but we're using a special feature of this asset: that it has no risk.

如同第四种资产,我们将利用这个资产的特性：,即无风险特性。

耶鲁公开课 - 金融市场课程节选

Tangent means that it has the same slope, it just touches the efficient portfolio frontier for risky assets at one point, and the slope of the efficient portfolio frontier, including the riskless asset, is a straight line that goes through the tangency point, here.

相切意味着斜率相同，它与包含风险资产的有效边界,交与一点，而包含无风险资产的，有效边界，则是一条过切点的直线，切点在这里。

耶鲁公开课 - 金融市场课程节选