junk bond

In contrast, the overall junk bond market has a total return for 2014 at 4.17 per cent, after a price loss of some 2 per cent.

相比之下，在价格下跌了大约2%之后，垃圾债券市场总体在2014年的总回报仍为4.17%。

Junk BondA bond that is rated by a ratings agency as being below investment grade and investment in the bond is high risk.

垃圾债券被信用级别评定机构评定为低于投资级别的投资风险高的债券。

He asks. Do they realise it is a fluctuating junk bond fund and not a safe money market fund?

波曾问，他们是否意识到这是一种上下波动的垃圾债券基金，而不是安全的货币市场基金？

Junk bond spreads now signal a 48% chance of a recession, according to Martin fridson, global credit strategist at BNP Paribas Investment Partners.

法国巴黎投资（BNP Paribas Investment Partners）全球信贷分析师马丁•福里得森认为，垃圾债券利差现在显示经济陷入衰退的几率为48%。

The amount of debt carrying the highest risk of default is rising as a proportion of the junk bond market, prompting fears the next cycle of corporate failures could be more severe than the last.

具有最高违约风险的债券在垃圾债券（junk bond）市场中所占比例日益上升，令市场不禁担心：下一轮企业破产现象可能会比上一轮更严重。

The problem: The junk bond market will soon face a double whammy: higher interest rates and a wall of maturities.

问题是：垃圾债券市场将很快面临双重打击：高利率和到期难。

For many investors, the focus of concern is the high-yield, or junk, bond market, where the riskiest borrowers come to raise funds.

对于很多投资者而言，主要的担心在于高收益率债券（即垃圾债券）市场。风险最高的借款者会在该市场融资。

Stocks have recouped more than half of their losses and junk bond borrowers now face interest rates near all-time lows, compared with near 20 per cent rates one year ago.

股市已收复超过一半的失地，垃圾级债券的票面利率接近历史低位，而一年前的接近20%。

Obviously, there were accidents and scandals, in the junk bond market in particular, but the net effect was overwhelmingly good for trade and prosperity.

虽然明显存在着一些意外事件和丑闻特别是在垃圾债券市场，但对于交易和繁荣的净效果总体上是好的。

A construction material manufacturer in eastern Jiangsu province last year became the first junk bond issuer to default, but a guarantor eventually repaid investors.

去年，江苏省东部一家建筑材料生产商成为首家违约的垃圾债发行商，然而最终还是有一家担保人向投资者偿还了相关资金。

Michael Milken will always be synonymous with the term junk bond king.

迈克尔·米尔肯总是“风险债券之王”的同义词.

Valuation is tough, too, with 17th century royal headwear even less liquid than junk bond ETFs.

估值也很困难，那顶17世纪的王室皇冠的流动性甚至还不如投资垃圾债券的交易所交易基金（ETF）。

GM debt , once considered the highest investment grade, has tumbled to low-rated , junk bond status.

曾被认为是最高投资级别的通用汽车债券已经降到了垃圾级.

Like after the junk bond bubble of the 1980s, lawsuits may hit Wall Street for years to come.

就像上世纪80年代垃圾债券泡沫之后的情形一样，未来几年，华尔街将遭遇一系列诉讼。

The emerging markets' bond index is doing "quite well" under the circumstances, he said, with spreads lower than those of the US corporate ( junk) bond market index.

他说，新兴市场的债券指数在当前条件下走势“很好”，其价差低于美国公司债券市场指数的价差。

In Europe, high-yield and bank lending the more traditional arenas are critical, with many bankers and analysts showing signs of frustration that policymakers have not sought to address the problems of the dormant junk bond market.

在欧洲，高收益债券和银行贷款市场更为传统的领域非常关键。政策制定者并未寻求解决垃圾债券市场停滞的问题，有迹象表明，这令许多银行家和分析师感到受挫。

As a result, the cost of borrowing for companies with stronger finances, and even for those with junk bond ratings, has generally been flat or even falling over the past month, irrespective of the turmoil ( see chart).

其结果是，过去一个月里，尽管市场处于动荡状况，但对于财力更强的企业甚至那些债券为垃圾级的企业来说，举债成本总体保持不变，甚至还有所下降。

Best buy already was a junk bond deal before the latest financial guidance, which means that today it smells even worse.

百思买发布最新的财务指南之前，该公司就已沦为垃圾债券，而现在的形势只会更糟糕。

Meanwhile, Boston Scientific's credIt'standing with ratings agencies this month fell into junk bond territory.

同时, 波士顿科技公司的债券信用评级在这个月降为“垃圾债券”的状态.

Junk bond spreads are now exactly where they were at the height of optimism in April 2010.

垃圾债券目前的息差与2010年4月最乐观时期的水平一模一样。

With US oil prices falling below$ 71 a barrel, attention has focused on the implications for the junk bond and leveraged loan markets.

随着美国石油价格跌至每桶71美元以下，人们开始关注它对垃圾债券及杠杆贷款市场的影响。

Once a country is in the "junk bond" category, no reputation is left.

一个国家的国债一旦被评为“垃圾债券”，该国就没什么名誉可言了。

China's securities regulator launched a junk bond market in 2012, officially called small and medium-sized enterprise private-placement bonds.

2012年，中国证券监管机构启动了垃圾债市场，官方把垃圾债称为中小企业私募债券。

These projections, coupled with government support measures for the capital markets, have sparked a big rally in junk bond prices, with an associated fall in yields.

这些预测，加上政府对资本市场的支持措施，引发垃圾债券价格大幅上扬，债券收益率相应下降。

More recently, there have also been some flows into junk bond funds.

最近, 还有一些资金流入了垃圾级债券基金.

Once a country is in the junk bond category , no reputation is left.

一个国家的国债一旦被评为“垃圾债券”, 该国就没什么名誉可言了.

Instead, investors' funds have been drawn in particular to the potential growth of US and Asian companies, in a year that has been one of the strongest for equity and junk bond fundraisings.

相反，美国和亚洲公司的增长潜力今年以来对投资者构成了很大的吸引力。今年是股票及垃圾债券融资活动最为活跃的年份之一。

The average yield on a junk bond is more than 20 % now, according to Merrill Lynch.

据美林(MerrillLynch)的数据显示,垃圾债券的平均收益率如今超过了20%.

The amount of money raised in the junk dim sum bond market reached a record high in the second quarter, driven by a rising Chinese property market and the worldwide search for higher-yielding assets.

今年第二季度，垃圾级点心债券发行额创下最高纪录，推动因素在于中国房地产市场价格看涨，而全球投资者追逐收益率较高的资产。

A lot of people could get squeezed if the junk bond market dries up.

如果垃圾债券市场枯竭，普通投资者会陷入价格挤压。