Since falling yields raise the value of bond principal, that has delivered bumper returns to investors.

因为收益率的下跌提高了债券本金的价值，投资者们收获了巨大的回报。

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Another potential catalyst for falling yields is the prospect of sharp fiscal tightening at the turn of the year.

WSJ: U.S. Stocks Tumble, Treasury Yields Sink to Record Lows

Kindleberger observes in "Reaching for yield"(p. 82), financial history offers many examples of times when falling yields on British consuls and other relatively safe investments generated speculative excess, followed by crash.

FORBES: Side lines

Yet Brian Coulton of Fitch, a rating agency, points out that this reflects falling German yields (as investors seek ultra-safe havens) rather than rising Italian ones.

ECONOMIST: Fretful markets fear the worst