In America the issuance of leveraged loans is growing much faster than high-yield bonds, though the overall amounts are still smaller.
在美国发行杠杆贷款的的速度已经比高收益的债券快的多，尽管总体的数量依然比较小。
After years of loose money in financial markets, some observers think the mortgage morass could cause investors to rethink their attitude to other forms of credit risk, such as high-yield bonds.
一些观察家认为，金融市场经过多年的头寸松之后，房贷泥潭可能会使投资者重新思考他们对其他信用风险形式的态度，比如高收益债券。
Traditional distress funds have drifted reluctantly into risky, but still solvent, junk bonds and high-yield loans to keep business ticking along.
百般无奈之下，传统危机基金开始调整食谱，转向高风险但偿还能力尚可的垃圾债券和高收益的债务。
Mike Thompson of Thomson Financial says that, since 1991, the correlation between the performance of high-yield bonds and the S&P 500 index has been pretty low—less than 20%.
汤姆逊金融公司的迈克•汤姆逊这样说道，自1991年，高收益债券和标普500指数之间的相关性就非常低，不到20%。
The S&P 500 already is up 39% since March 9 and high-yield bonds are up 31%.
3月9日以来，标准普尔500指数已经涨了39%，高收益债券涨了31%。
The spread (excess interest rate) on high-yield corporate bonds has fallen from more than 16 percentage points at the start of 2009 to less than six points.
高收益公司债券的超额收益率从2009年初的16%点多下跌到不到6点。
Such is the staying power of the market that CreditSights, a consultancy, wondered this summer whether it was fair to call high-yield bonds "junk" after all.
这种使市场延续的力量使得一家咨询机构CreditSights在思索这个夏天如果仍然称那些高回报的债券为垃圾债券是否合适。
The current default rate on American high-yield bonds is less than 4%.barclays Capital is predicting a rate of 14.3% by the second half of 2009.
美国高风险债券的坏账率目前小于4%，而巴克莱银行预测明年下半年这个数字会变为14.3%。
The current default rate on American high-yield bonds is less than 4%. Barclays Capital is predicting a rate of 14.3% by the second half of 2009.
美国高风险债券的坏账率目前小于4%，而巴克莱银行预测明年下半年这个数字会变为14.3%。
Charles Himmelberg, a credit strategist at Goldman Sachs, forecasts that 14% of high-yield bonds will default this year, with the same proportion going phut in 2010.
查尔斯·汉密尔伯格，高盛信贷策略分析师，预测今年将有14%的高收益债券无法偿付。2010年将有同样比例的债券完蛋。
This is really all part of the same "search for yield" that has seen investors pile into other high-income assets, such as corporate bonds and emerging-market debt.
这和“搜寻收益”，也就是投资者蜂拥进入其他的高收益资产，例如公司债券和新兴市场债，如出一辙。
In such an environment, equity interests in the form of stocks, real estate or even high yield bonds become re-rated.
在此环境下，股票、房地产以至高收益债券的价值都遭到重新评估。
Even if profits had been terrible, owners of high-yield bonds would have suffered too because of a likely jump in corporate defaults.
但即使获利状况不良，高回报债券持也很可能因为公司违约而受到冲击。
Commodities worked out, and so did TIPS [Treasury inflation-protected securities] and high-yield bonds.
商品期货，通货膨胀保值债券，高收益债券都很成功。
By July 20th the yield gap between Italian and German benchmark bonds had dropped below three percentage points (though it remained worryingly high).
7月20日，意大利国债和德国国债收益率的息差已回落至3个百分点(尽管仍是令人沮丧的高位)。
By contrast medium-dated Treasury bonds returned 95.3% and high-yield American bonds 102.2%.
相比之下，中期国库券的回报率为95.3%，高收益率的美国债券回报率为102.2%。
High demand tends to push up bond prices, and when the price of bonds rises their yield falls.
旺盛的需求抬高了债券价格，债券价格上升，收益便随之下降。
Existing high-yield "junk" bonds will fall to zero, and new ones will no longer be issued.
现有的高收益“垃圾”债券将降至零，并有新的将不再印发。
More than one in five high-yield bonds are now considered distressed, meaning they yield at least 10 percentage points more than benchmark rates, Merrill said last week.
美林公司上周说，现在五分之一多的高收益债券面临困境，这意味着它们比基准利率低了至少10多个百分点。
The empirical results show that the volume of bonds issued each quarter is influenced by the average yield spread between high-and low-risk bonds.
实证研究结果表明，每季度债券发行量受到高，低风险的债券和债券平均收益率差的影响。
High Yield bonds did not always have the covenant protections seen today.
高收益债券并非总是提供今天所见的契约保护。
High Yield bonds are much more liquid than consumer loans.
高收益债券比消费贷款的流动性大得多。
High Yield bonds typically have covenants that protect the investor from prepayment risk.
高收益债券通过契约保护投资者免遭提前还款的风险。
High Yield issuers are typically restricted by covenants on the amount and the type of debt that they can incur once they have issued bonds.
高收益债券发行方一旦发行债券，在其所能发生债务的金额与类型上便会受到契约限制。
Generally, online consumer loans offer greater returns, because they lack the covenant protections that High Yield bonds offer and because of their early stage and unfamiliarity among investors.
通常来说，由于互联网消费贷款不具备高收益债券提供的契约保护，且还处于起步阶段，投资者们并不熟悉这类产品，因而其收益更大。
Also, with regard to liquidity, secondary trading is very prevalent among High Yield bonds. On the other hand, the secondary market for online consumer loans is still in its infancy stage.
而且，考虑到流动性，二级市场交易在高收益债券中非常盛行，而互联网消费贷款的二级市场仍处于起步阶段。
High Yield bonds are typically unsecured obligations.
高收益债券通常为无抵押债务。
No wonder the yields on high-yield bonds have collapsed.
难怪高收益债券的收益率大幅下跌。
No wonder the yields on high-yield bonds have collapsed.
难怪高收益债券的收益率大幅下跌。
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