政府债券

Noritaka Akamatsu, the report's lead author, said the corporate bond market outside China remained dominated by state utilities, infrastructure companies and banks, with relatively few "pure" private sector companies choosing to raise capital in the debt markets.

该报告的主要作者赤松範隆表示，中国以外的公司债券市场仍然由政府公用事业、基础设施公司和银行主导，选择通过债券市场融资的"纯"私营企业相对较少。

However, they are generally inadequate for effective intermediation between savings and investment.

不过，当地政府和市场为发展本币债券市场所作的努力表明，东亚新兴国家和地区的本币债券市场也会取得长足的发展。

So the government has been paying a premium to people buying savings bonds, and it's turned out to be an expensive way to finance the public debt.

所以原来政府主要鼓励人们购买储蓄债券，现在则转向更广泛的公共金融债券。

It's possible global bond vigilantes will call Washington's bluff, reducing their bond purchases until we stop devaluing and restart job growth, which is the ultimate source of tax revenues to repay our bond debt.

全球债券监管者也可能会戳穿美国政府，减少购买美国债券，直到我们停止贬值美元，重新实现就业增长，就业是用于偿还债务的税收收入的根本来源。

Germany this week announced a ban on the naked short-selling of euro-area government bonds and shares of some financial firms, and on the buying of sovereign credit-default swaps by investors who have not also bought the underlying bonds.

德国这周颁布了一项禁令，严禁对欧元区政府债券以及一些金融公司股票进行无抵押沽空，并且禁止非优先抵押债券投资者购买政府信用违约掉期。

Third, by catapulting a formidable group of buyers into the sovereign bond market, these rules will bid up prices, decreasing the cost of government funding.

第三，通过推动大量买家进入主权债券市场，这些规定将推高债券价格，从而降低政府融资成本。

Under the Non-Ricardian policy regime, the government pegs to the current value of the future surplus, externalizing tax and expenditure, if the government deficit is financed by issuing bond, and then government budget can be cleared through the fluctuation of the market price.

在非李嘉图的政策规则下，政府通过钉住未来剩余的现值，将政府的收入和支出外生化，政府的赤字用发行的债券来融资，然后通过让市场价格水平的波动来调整政府的预算平衡。

Noritaka Akamatsu, the report's lead author, said the corporate bond market outside China remained dominated by state utilities, infrastructure companies and banks, with relatively few "pure" private sector companies choosing to raise capital in the debt markets.

该报告的主要作者赤松範隆表示，中国以外的公司债券市场仍然由政府公用事业、基础设施公司和银行主导，选择通过债券市场融资的&纯&私营企业相对较少。

Eurobond: A Eurobond is a bond denominated in a currency other than that of the country in which it is issued.

市政债券：市政债券是由州或地方政府发行的债券。

Eurobond: A Eurobond is a bond denominated in a currency other than that of the country in which it is i ued.

市政债券：市政债券是由州或地方政府发行的债券。

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。