Market-risk teams saw them as credit instruments, since the underlying assets were loans.

而市场风险小组认为它们是信用工具，因为这些产品的基础资产是贷款。

youdao

What we must take away from this is that CDS are toxic instruments whose use ought to be strictly regulated: Only those who own the underlying bonds ought to be allowed to buy them.

我们从中应该学到，CDS是一种有害的金融工具，其用途应该被严格规范：只有持有其所包含的债券的个人或机构才能购买。

youdao

Derivative instruments: a contract whose value changes as prices move in a related or underlying commodity or financial instrument.

衍生金融工具：一种合同，其价值随着有关或特定商品或金融工具的价格变动而变化。

youdao

The iShares Barclays 3-5Yr Treasury Bond (IEI) ETF is up 1.48% since Aug. 8 as investors piled into the ETF for safety, driving up the price of the equity but definitely not driving up the yield of the underlying instruments.

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So I think the losses and then the leverage, the nature of the leverage underlying those instruments, also magnified losses when they started going down.

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Derivatives are financial instruments whose value is based on some underlying asset, like a mortgage for instance, and and can be used to either hedge risk or for completely speculative positions.

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