政府债券

In addition to mortgage backed bonds, the bond insurers back hundreds of billions of dollars of municipal and other bonds.

除以抵押贷款支撑下的债券外，债券保险公司还同时支持着好几百种价值数十亿美元的政府和其他债券。

"A whole new asset class of government-guaranteed bank debt was created this year and it became worth $1,000bn," says Mark Bamford, head of global debt syndicate at Barclays Capital."One issue in the coming months will be where these investors will put their money instead as this type of issuance will decrease as government programmes expire."

"政府担保银行债券这一全新的资产类别今年被创造了出来，其规模达到了1万亿美元"巴克莱资本全球债务银团业务主管马克班福德表示，"未来几个月的问题之一是，随着政府计划到期，此类债券的发行量将下降，这些投资者将把资金转投何处。"

For the bond component, pick a fund such as the Fidelity Total Bond fund that largely owns high-grade, intermediate-term corporate bonds and mortgages, along with government and agency debt.

债券部分可以选择一支基金，比如富达债券总指数基金，该基金持有高等级中期企业债券、抵押贷款及政府和政府机构债务。

In this paper, the bond market listed companies, from government policies, credit rating, the phenomenon of internal control, lack of security bonds, bonds and other varieties of single-level analysis of the corporate bonds of listed companies failed to become the main form of direct financing of the reasons,And from government control, regulate credit rating, improve the ownership structure of listed companies, the implementation of strict enterprise security and bankruptcy system, the bond layer breeds innovation by the listed companies to strengthen the bond financing measures.

本文通过上市公司债券市场的问题，从政府政策、信用评级、内部人控制现象、债券安全性不足、债券品种单一等层面分析了企业债券未能成为上市公司直接融资的主要形式的原因，并分别从加强政府调控、规范信用评级、改进上市公司股权结构、实施严格的企业担保及破产制度、债券品种创新等层而提出加强上市公司债券融资的措施。

Two levels of government focus on urban areas through the coordination of the guarantor, bonds, sinking fund for SMEs to address the issue of bonds, while small and medium enterprises in accordance with the characteristics of the high cost of issuing bonds due in part to subsidize the costs associated with in order to reduce the cost of bond issuance integrated.

两级政府的重点放在城市地区通过担保人，债券协调，偿债基金，为中小企业解决债券的问题，而按照中小企业与发行债券部分由于成本高的特点补贴相关的成本，以降低债券发行成本的综合。

Government focus through the coordination of the guarantor bonds, sinking fund to resolve the issue of small and medium-sized bond, while small and medium-sized issuers in accordance with the characteristics of the high cost of the appropriate part of the costs associated with subsidies to reduce the cost of bond issuance integrated.

政府重点通过协调担保人债券、偿债基金解决中小企业债券问题，同时根据中小企业发债成本高的特点适当补贴部分的相关费用，以降低债券发行的综合成本。

Based on the researches of system factors, system characters and the influence of market structure to market behavior, the chapter points out the characteristics and rules of china bond market system variance. On account of the Promoting Effect Government Dominated behavior, compellent system variance runs through the evolution of market structure and act on it. Although derivational system variance also works, it can't be the dominant because of the long variance time and high cost.

根据制度变迁理论研究债券市场结构的制度成因、特点及其对于市场结构和行为的影响，指出中国债券市场制度变迁的特点和规律，由于在中国债券市场的发展过程中，政府主导行为具有明显推动效应，强制性制度变迁始终贯穿于市场结构演变的过程中，并对其形成重要作用；诱致性制度变迁虽然也穿插其中，但由于其变迁时间长、成本高等特点，无法形成主导力量。

Treasury bonds, CDs and other interest-sensitive issues, currencies and stock market indicators.

在美国，基础金融工具包括美国政府债券、大额可转让定期存单和其他与利息有关的证券发行、货币和股票市场指数。

Admittedly, there are heavy inducements on offer for buyers of government bonds.

诚然，政府债券的买家面临巨大的诱惑。

But unique difference handling middle, enterprise bond and corporate bond in reality is lain in, enterprise bond government credit with being, enterprise bond distribution needs to examine and approve and issue the procedure examining and verifying two process forehead degree, corporate bond enterprise debenture bond with being's, the distribution is from Securities Regulatory Commission leading factor then, can adopt the pattern criticizing as reporting therefore.

在现实操作中，企业债券与公司债券的唯一区别在于，企业债券用的是政府信用，企业债券的发行需要经过额度审批和发行审核两道程序，而公司债券用的是企业信用，公司债券的发行则是由证监会主导，因此可以采取随报随批的模式。

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。