泡沫之年的建筑狂热,留下那些甚至排在地价和不断上升的失业率之前的过剩供给,导致突然取消抵押品赎回权。
There was a building frenzy during the bubble years, which left an overhang of supply even before plunging prices and rising unemployment led to a blitz of foreclosures.
这给其他长期债券投资者留下的份额更少了,从而增加了收益率下行的压力。
That leaves fewer long-term bonds for other investors to buy, adding to downward pressure on yields.
高失业率是衰退留下的最明显伤痕。
HIGH unemployment is the most visible scar left by the recession.
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