So a two-year bank CD or a Treasury inflation-protected security yielding around 2%, and short-term investment-grade bond funds at 2% plus, aren't the end of the world.

因此收益率在2%的两年期银行定存单或者通货膨胀保值型国债，以及收益率在2%以上的短期投资级债券基金都属于不错的选择。

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"CDO" is a common term for collateralized debt obligation, an investment-grade security backed by a pool of bonds, loans and other assets.

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Nor would it make much difference were Social Security to be invested in other assets such as equities, investment-grade bonds and property.

ECONOMIST: The retired are always supported by their children