随着投资者愈加担心借款人可能拖欠债务，他们就会减少债券需求。

Investors reduce their demand for bonds as they become increasingly concerned about the possibility of borrowers defaulting on their debt.

youdao

垃圾债券的信贷息差，作为未来拖欠债务率的指标，从2007年初高于国库券的260基点涨到了2008年末的1200基点(如图)。

Credit spreads on junk bonds, which are an indication of future default rates, rose from 260 basis points over Treasury notes in early 2007 to 1,200 basis points in late 2008 (see chart).

youdao

这些威胁大都源于欧元区一些国家拖欠债务的风险加剧还有来自那些持有这些国家债券的欧洲银行遭受的撞击。

Most of these threats stem from the rising risk of default by some countries in the euro zone and the knock-on damage to the European Banks that hold their bonds.

youdao