相反,Shilling先生认为投资者应持有长期国债。
Instead Mr Shilling thinks that investors should own long-dated Treasury bonds.
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。
The banks’ bond holdings, long seen as ultra-safe, are slowly starting to look more like a risk.
虽然持有人可以在到期时得到全部偿付,但如果一旦收益率上升长期国债的价格可能大幅下跌。
While a holder can expect to get repaid in full at maturity, the price of longer-term Treasuries could fall sharply in the interim if yields rise.
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