The old view of it was rather mechanical: pull the interest-rate lever up and, via Banks and bond markets, lending and spending would fall; pull it down and they would rise.

老观点相当机械的认为：提高利率水平，借贷和支出将通过银行和债券市场得到削减，反之亦然。

youdao

The higher the perceived risk—and there's always some risk—the higher the interest rate the bond must carry.

风险越高，当然风险总是有的，债券的利息也越高。

youdao

TheBank of England kept its benchmark interest rate at a record low of 0.5 percenton Aug. 5, and maintained its bond purchase program at 200 billion pounds ($316billion).

英伦银行在8月5日的基准利率是史上最低值——5%。 该银行保持其债券购买计划砸开2000亿英镑，约合3160亿美元。

youdao

Another reason demand for the long bond has been so voracious is that a lot of investment banks still use them to hedge their corporate-bond positions and interest-rate swaps (between fixed- and floating-rate obligations).

ECONOMIST: Bond bombshell

As of Thursday, a 5 year AAA corporate bond has an interest rate of 1.21% and a 5 year AAA muni bond has an interest rate of 0.93%.

FORBES: Obama's Deduction Cap, Tax-Exempt Bonds, and Economic Illiteracy (WSJ Example)

The second reason for likely interest rate increases can be attributed to the correlation between the Federal Funds Rate and bond interest rates.

FORBES: Expert View