I mean, do you really--you might wonder, aren't people missing something if the excess return is so high of stocks over short-term bonds?

我是指，你们真的。。。你们也会怀疑，这里是不是少了点什么,如果股票收益率高出短期债券收益率那么多？

耶鲁公开课 - 金融市场课程节选

The bond markets,in general, and the high-quality bonds in particular are probably easiest to value.

一般来说,债券市场,尤其是优质债券,可能是最容易定价的

耶鲁公开课 - 金融市场课程节选

So strong bonds means high melting points and boiling points.

因此，如此强的化学键意味着更高的熔点,和沸点。

麻省理工公开课 - 固态化学导论课程节选

Here is a chart which shows the credit spread of high yield bonds vs. the default rate of high yield bonds since 1997.

FORBES: Connect

In 17 out of 19 cases high yield bonds produced positive returns despite negative returns on Treasures and in 19 out of 19 cases high yield bonds outperformed Treasuries.

FORBES: Are "High" Yield Bonds At Only 7% Worth The Risk?

Does this mean that high yield bonds are over-valued? (likely), that Treasury bonds are over-valued, since high yield bonds are priced as a spread above Treasuries? (very likely), and that high quality stocks in a universe of mostly overvalued liquid assets are relatively cheap? (likely).

FORBES: Stocks And Bonds: Distortions Are Surfacing In The Markets