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国债流通市场，又称二级市场，与国债一级市场互为依存。
The circulating market of national debt, which is also called secondary market, has a mutual relationship with first market.
这是一个设在美联储的资本储备，由财政部通过销售新的国债提供资金，但该账户的过剩资本是“受困”的，并不会立即变为流通货币。
This is a capital reserve in the Fed financed by the Treasury selling new debt, but its excess capital is "trapped" and does not immediately reach currency in circulation.
但是大额的联合债券发行即使对信用风险很低的国家也有益，因为这种债券在流通性上足可匹敌美国国债市场。
But a large collective bond issue could have benefits even for countries with low credit risk, as it would rival America's Treasuries market for liquidity.
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