The reasoning is usually based on a discounted-cashflow model; a lower bond yield means a lower discount rate and thus a higher present value for shares.

通常的理由是基于一个折现现金流量模型；较低的债券收益率意味着降低贴现率，从而提高股票的现值。

youdao

Meanwhile, accounting standards have forced company pension schemes to discount their liabilities using a corporate-bond yield.

同时，会计准则驱使公司退休金计划使用公司债券收益率来降低负债。

youdao

So one possible discount rate is the state's cost of borrowing, the yield on its municipal bonds.

这样折算率就是国家的借款成本，也就是市政债券的收益率。

youdao

When pension funds calculate the value of their liabilities, they therefore use a bond yield to discount future payments.

ECONOMIST: How low real interest rates hurt pension funds

You can buy these bonds at a discount and get nearly 8% yield in dollar terms.

FORBES: Outside Of Treasurys, Emerging Market Debt World's Best Buy

The investment grade rated bond eventually sold at a slight discount from par and fetched a yield of 4.5%, over 250 basis points over 10 year U.S. Treasury bonds.

FORBES: Investors Get 4.5% Yield On Brazil's Vale Bonds