政府债券

It is understood that in the United States, to buy more bonds for enterprises and institutions, while domestic debt is the main investment banks, in the difficult economic situation, companies tend to hedge buying government bonds, while banks often can not accept negative interest rates.

据了解，在美国，购买更多的企业和机构债券，而国内的债务是主要的投资银行在困难的经济形势，公司倾向于购买政府债券避险，而银行往往不能接受的负利率。

Printing more money to buy government debt, for instance, might send long-term bond yields higher rather than lower.

例如，印刷钞票以购买政府债券可能导致长期债券收益上升，而不是下降。

Another influence on the bond market is the willing ness of foreign countries to buy U.S.

另一个对债券市场的影响是外国愿意购买美国政府债券。

Wayne Hiley, of Barclays Capital, said a recent rally in the corporate bond markets had lowered the interest rate premium to government bonds that businesses pay.

巴克莱的韦恩·希利表示，企业债券市场近来的反弹，降低了企业向政府债券所支付的利率溢价。

For instance, older conservative investors may choose fixed annuities, money market funds, bond mutual funds, government bonds, cash, tax lien certificates and rental properties to include in their portfolio.

举例来说，老年人保守的投资者可以选择定额年金，货币市场基金，债券共同基金，政府债券，现金，税务连战证书和出租物业，包括在他们的投资组合。

If banks chose to get this extra liquidity by buying bonds, they would end up owning government debt equivalent to about 60% of British GDP—an unhealthily cosy arrangement.

通过购买债券，银行获得额外的流动性，他们将终止持有相当于大约英国GDP60%的政府债券-一种非健康的适意安排。

On reflection, perhaps the fault with Greece's parlous public finances lay not just with its budgetary profligacy but also elsewhere: in the absence of a central euro-zone authority for helping out cash-strapped countries; or with the credit-rating agencies that had unhelpfully downgraded Greek government bonds; or with the amoral speculators who had bet against those bonds and helped drive up borrowing costs.

原譯： 经过考虑，也许希腊危险的公共财政过失不仅在于预算的浪费，还在于其他方面：欧元区没有一个权威的机构使资金短缺的国家摆脱困境；信用评级机构无助地对希腊政府债券降级；无道德的投机者做空这些债券，对借贷成本的抬升起了推波助澜作用。

On reflection, perhaps the fault with Greece's parlous public finances lay not just with its budgetary profligacy but also elsewhere: in the absence of a central euro-zone authority for helping out cash-strapped countries; or with the credit-rating agencies that had unhelpfully downgraded Greek government bonds; or with the amoral speculators who had bet against those bonds and helped drive up borrowing costs.

经过考虑，也许希腊危险的公共财政过失不仅在于预算的浪费，还在于其他方面：欧元区没有一个权威的机构使资金短缺的国家摆脱困境；信用评级机构无助地对希腊政府债券降级；无道德的投机者做空这些债券，对借贷成本的抬升起了推波助澜作用。

On reflection, perhaps the fault with Greece's parlous public finances lay not just with its budgetary profligacy but also elsewhere: in the absence of a central euro-zone authority for helping out cash-strapped countries; or with the credit-rating agencies that had unhelpfully downgraded Greek government bonds; or with the amoral speculators who had bet against those bonds and helped drive up borrowing costs.

经过考虑，也许造成希腊公共财政危险的不仅在于预算的浪费，还在于其他方面：欧元区没有一个权威的机构使资金短缺的国家摆脱困境；信用评级机构无助地对希腊政府债券降级；无道德的投机者做空这些债券，对借贷成本的抬升起了推波助澜作用。

Article 22 shall be changed into Article 23, of which item (1) of paragraph 1 shall be modified as "demanding that the banking institutions deposit the reserve fund at a required ratio"; and item (3) thereof shall be modified as "handling rediscounting for the banking institutions, which have opened accounts in the PBC"; and item (5) thereof shall be modified as "dealing in treasury bonds, other government bonds, financial bonds and foreign exchange on the open market".

九、第二十二条改为第二十三条，第一款第一项修改为：&要求银行业金融机构按照规定的比例交存存款准备金&；第三项修改为：&为在中国人民银行开立账户的银行业金融机构办理再贴现&；第五项修改为：&在公开市场上买卖国债、其他政府债券和金融债券及外汇&。

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。