CDS spreads indicate the insurance premium and the confidence in the underlying bond.

CDS的价差相当于保险费，其大小表明市场对其标的债券的信心。

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Although the gold price fell and bond yields rose in October, the underlying contradiction didn't disappear.

尽管十月份金价下跌，国债收益率上涨，潜在的矛盾丝毫不散。

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But not all CDS demanded delivery of the underlying bond, says Das.

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The underlying complaint is that speculators drive up bond yields, making it harder for governments to finance themselves.

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Kramer notes these assets are most likely bonds and the underlying entity has to pay interest to the bond holder.

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