Just like junk bonds, another once-misused financial instrument, many of the new derivatives will be back, for no better reason than that they are useful.
正如另一种曾被滥用的金融工具——垃圾债券一样，这些新衍生品中的很大一部分迟早会重回市场，因为它们的确有用。
Leveraged loans, which are senior to junk bonds, now trade for an average of about 70 cents on the dollar and carry yield to maturities of 10% to 15%.
杠杆贷款，比垃圾债券评级要高，现在交易的平均价格约为70美分，到期收益率为10 %至15 %。
Take junk bonds, whose use Michael Milken pioneered in the nineteen-eighties. They got a bad name when Milken went to prison for securities fraud.
如20世纪80年代米歇尔·米尔金(MichaelMilken)率先使用的垃圾债券(junk bonds)，这些债券在米尔金因保险诈骗罪入狱后就遭到骂名。
The average junk issue trades for less than 60 cents on the dollar, and some bonds, like those issued by the bankrupt Tribune, have sunk to just pennies on the dollar.
垃圾债券的平均交易价格不到60美分，一些债券，比如由最近破产的Tribune公司发行的债券，已经降到只有几个美分。
On August 16th the Fed reported that Banks had eased lending standards for small businesses; sales of junk bonds are rocketing.
8月16日美联储在报告中说，银行放松了对小公司的借贷标准，风险债券的销售在飞速上涨。
As for the returns on bonds, I know that my comment will come as a surprise to people who have been brainwashed into thinking that junk bonds are free money.
关于债？的收益，我想我的评价会使一些人大吃一惊，这些人被垃圾债？会赚大钱的观念洗过脑，他们错了。
As for the returns on bonds, I know that my comment will come as a surprise to people who have been brainwashed into thinking that junk bonds are free money.
关于债？的收益，我想我的评价会使一些人大吃一惊，这些人被垃圾债？会赚大钱的观念洗过脑，他们错了。
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