The fixed-rate element normally carries a higher yield than that of Treasury bonds with the same maturity.

而固定利率一般比同一期间到期的美国国债收益率高。

youdao

Prior to the early 1980s, the bond market was comprised mainly of 'plain vanilla' bonds with simple cashflow structures, where coupon payments and maturity were fixed at the outset.

在80年代以前，债券一般上都相当简单，即包括不太复杂的现金流动结构，票面利率和到期日在发行时已定下。

youdao

Hence, while holding any security with a fixed interest rate involves some interest-rate risk, the closer to maturity a security is, the lower is this risk.

因此， 持有任何固定利率的证券都意味着要承担一定的利率风险，但同时越临近到期日，这种证券的风险就越小。

youdao

You buy a series of quality fixed-income securities with staggered maturity dates.

FORBES: How Much Money Can You Take Out In Retirement?

These factors make fixed maturity securities and ideal choice for insurance companies, which typically invest 50-70% of their total invested assets in fixed maturity securities.

FORBES: Fed's Twisting Is No Fun For Insurance Companies Like MetLife, AIG, Hartford

For one thing, it is hard to know how much companies have in fact lengthened the maturity of their debts because the interest-rate swap market allows them to swap those fixed bond payments into cheaper floating debt, a popular strategy in the investment-grade market.

ECONOMIST: Better to feast on cookies than junk bonds