This is includes both shorter term borrowings, such as accounts payables, along with the current portion of longer term borrowing, such as the latest interest payment on a 10-year loan.

包括短期借款，比如应付账，以及长期借款的流动部分，比如一笔10年期贷款的最新利息支付。

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Since then, it has shifted most of its borrowing to long-term bonds.

自从那时，美国开始将其借款中的大部分转移到长期债券。

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Because such yields determine the borrowing costs of Banks and firms, long-term yields are arguably more important than short-term rates in driving growth.

由于这部分收益率将决定着银行和企业的借贷成本，事实证明，在推动经济增长的进程中，长期收益率比短期汇率更重要。

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Since the launch of the euro, moreover, Italy's debt managers have managed to extend the average term of its borrowing to almost seven years, locking in then-prevailing interest rates and ensuring that less of the outstanding debt is subject to abrupt rate increases.

ECONOMIST: Fretful markets fear the worst

Under the asset purchasing programme the central bank buys bonds in order to keep the long-term cost of borrowing down.

BBC: Bank of Japan increases asset purchase programme

On the bond markets, the Spanish government's long-term cost of borrowing fell slightly, to an implied interest rate of just under 6% for 10-year debt.

BBC: Spain budget imposes further austerity measures