信用债券

A series of new debt products enabled even the leakiest corporate balance-sheet structures to stay afloat—for a while. In the 1980s junk bonds opened up credit markets for lower profile firms.

一系列新的债务产品使得即便是漏洞百出的公司资产负债表体系也得以短时正常运营。80年代，低信用等级的公司发行的垃圾债券在证券市场大行其道。

"People have given up hope that the new administration will be able to do anything to make things better quickly," says Willem Sels, a credit strategist at Dresdner Kleinwort.

债券市场的第二个问题是，金融危机即将结束的乐观心态已经不再。&人们已经放弃了新奥巴马政权能够让事情迅速好转的希望&，的德累斯顿-克莱沃特的信用分析师Willem Sels说。

Finally, this paper uses credit ratings of listed companies to explain some related issues of the short-term financing bonds.

最后本文用上市公司信用评级解释了短期融资债券的一些相关问题。

Until September 7, 2008 the Government announced that the United States to take over the "two rooms" and to give relevant bond "quasi-national credit" and this should be relieved.

直到2008年9月7日美国政府宣布接管&两房&，给予相关债券&准国家信用&，这才松了口气。

When investors were last so nervous about the credit of the euro-zone's periphery, in March, countries were still able to tap bond markets.

当投资者持续对欧元区周边地区的信用状况表示担忧时，三月，这些国家仍在全力开发债券市场。

When investors were last so nervous about the credit of the euro-zone's periphery, in March, countries were still able to tap bond markets.

但这也很难暗示购买者并不青睐于。5月，当投资者持续对欧元区周边的信用状况表示担忧时，这些国家仍然不遗余力的开发债券市场。

Applying structural approach to modeling default risk, the pricing of default risk zero-coupon bond and a credit spread term structure under incomplete information is developed.

运用违约风险评估的结构化建模方法，在信息不完全的情形下推导了风险零息票债券的定价公式，并得到了此时信用利差的期限结构。

All other things being equal, the lower a bond's credit quality, the higher its yield.

在其他条件相同的情况下，债券的信用质量越低，它的收益率也就越高。

CDS spreads on Pakistan, which is haemorrhaging foreign exchange reserves to prop up a weak rupee, have risen to a record 3,026 basis points, or a cost of more than $3m to insure $10m of debt over five years.

从信用违约互换——一种针对债券违约的保险形式——的交易情况来看，市场预期巴基斯坦发生债务违约的可能性高达90%。

In each case, holders of CDS contracts suddenly found themselves committed to paying for protection on bonds on the verge of extinction--rather like paying for insurance on a car heading for the scrapyard.

一时间，信用违约互换合同的持有者无一例外地发现：按照承诺，他们一直在为即将化为乌有的债券支付保险费，这无异于为一辆离报废不远的汽车买保险。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。