Then there was wide fear of world recession after the Asian currency crisis, the Russian default and the rescue of Long-Term Capital Management, an overleveraged hedge fund.

而在亚洲货币危机爆发，俄罗斯违约以及拯救过度杠杆化的长期资本管理公司(LTCM)的背景下，市场对全球陷入衰退感到恐慌。

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In theory this trade should not be sustainable in the longer term; the higher yields should merely compensate investors for the default risk.

理论上，这种交易长期来看是不可持续的，高收益只不过是为违约风险的投资者做补偿。

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In fact it means only a slight increase in long-term default risk.

事实上，这只意味着在长期违约风险略有增加。

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No longer a descriptive noun, "bubble" has become the default term for lazy writers seeking to explain what they cannot.

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Until Ryan, there has never been talk of any real possibilities of a short-term default.

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Investors cheered news that Greece would avoid a near-term default on its debt.

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