在债券市场上, 有人坚信垃圾债券是发大财的终极快捷方式.

In the bond market, junk bonds was convinced that fortune is the ultimate shortcut.

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.

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

垃圾债券现在的平均收益率20%，而2008年年初只有9%。

The average junk bond now yields 20%, compared with 9% at the start of 2008.

我们不会一直讨论安全问题，因为有很多垃圾债券，有很多坏债券。

We're not going to talk about safe and unsafe, because there's a lot of junk bonds, there's a lot of bad bonds.

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

Essele说到，他将这种脱节称为垃圾债券ETFs的“主要结构性陷阱”。

Essele says, who calls this disconnect the main structural pitfall of junk bond ETFs.

平均而言，垃圾债券的收益率为4.77%，而债券整体收益率不到1.1%。

On average, junk bonds yield 4.77%, compared to less than 1.1% for bonds overall.

80年代的垃圾债券为那些低调企业开启了信贷市场.

In the 1980 s junk bonds opened up credit markets for lower profile firms.

事实上人们对垃圾债券的称谓有误，所以产生了误解。

The truth is that junk bonds were misnamed, and therefore misunderstood.