Bond insurers, who used to cover roughly half of the market, have retrenched or gone bust after making bad mortgage bets.

过去保险几乎一半市场的债券保险公司在经历错误的抵押贷款赌注后已经削减或破产。

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While Treasuries look rich, other parts of the bond market beckon, including municipals, corporate bonds, convertible securities, some mortgage securities and preferred stock.

虽然国债看上去不错，债券市场的其他品种更有吸引力，它们包括市政债券，公司债券，可转换证券，一些抵押贷款证券和优先股。

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Treasurys, sold to pay for it all.This likely would dilute the Treasury bond market, drive down prices, push up yields and cause mortgage rates to rise.

这可能会稀释美国国债市场，压低国债价格，推高收益率，带动抵押贷款利率走高。

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What started in the subprime mortgage bond market earlier this year is filtering into the broader credit markets, but the nervousness is less a sign of deteriorating credit quality--defaults are at historic lows of 0.3%, according to Coffey--and more an oversupply issue.

FORBES: Crunch Time

Bank of China's interest in securitization coincides with an unprecedented start to the year for the commercial-mortgage-bond market.

WSJ: Bank of China Eyes Expansion Into U.S. Securitization

Like the mortgage market, the municipal bond market has morphed into its own new era of highflying finance, adjustable-rate loans and complex securities.

FORBES: Beware The Son of Subprime