“The fact that the long-term rate has generally been flat for the last 18 months suggests the risk premium is rising on questions of the sustainability of Japan’s public debt, ” he says.

事实上在过去的18月里长期利率维持稳定，它表示在日本公共债务稳定性这个问题上风险溢价正在上升。

youdao

As this risk premium varies, it might overwhelm the effects of interest-rate changes.

由于风险的不同，风险因素可能压倒利率变化因素。

youdao

Credit spreads-that is to say, the risk premium over and above the riskless rate of interest-widened to unprecedented levels and eventually the stock market also was overwhelmed by panic.

信用利差(即高于无风险利率的风险溢价)被放大到前所未有的程度，并且导致股票市场充斥着恐慌情绪。

youdao

That would reduce demand for mortgage paper, in addition to embedding a risk premium in the rate for those investors still willing to take the gamble.

FORBES: Bush's Bad Mortgage Medicine

Because that risk is not passed on to pension beneficiaries (their benefits are guaranteed, whatever the market does) it is improper to use a liability discount rate that includes the risk premium.

FORBES

There would, on the other hand, be a useful fall in interest rates, because investors would no longer demand a premium for the risk that the exchange-rate peg would be broken.

ECONOMIST: The ECB heads for turbulence