The banks’ bond holdings, long seen as ultra-safe, are slowly starting to look more like a risk.

银行持有的国债，长期以来被看做是极其安全的，但现在也开始看起来更像一种风险资产。

youdao

The banks' bond holdings, long seen as ultra-safe, are slowly starting to look more like a risk.

银行持有的国债，长期以来被看做是极其安全的，但现在也开始看起来更像一种风险资产。

youdao

But as the unexpected bankruptcy of Lehman brothers shows, ultra-safe does not mean impregnable.

但是像意想不到的勒曼兄弟的破产所显示的那样，极端的安全并不意味著牢不可破。

youdao

Investors fled to ultra-safe Treasuries in response to the euro-zone debt crisis.

FORBES: Elliott Wave Analysis Of The 10-Year US Treasury Note

By contrast, the Social Democrats and the Greens are making gains even though they want Eurobonds that could merge ultra-safe German debt with Greek junk.

ECONOMIST: Charlemagne

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