The total of the premia collected on automobiles is about- is much bigger, like five times bigger, than of the premia they collect on homeowners.

保险公司在汽车保险上的保费收入,大大多于,大概是6倍于,在住房保险上的保费收入

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So my guess is that credit premia on those bonds would be steady or falling.

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Now measuring this is really hard because its not clear how you separate credit premia from liquidity premia.

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Auctions are only placed at ever increasing premia cf. the past auctions.

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