票据投资

30亿亚洲人希望他们的政府将辛苦挣得的盈余投资于实实在在的生产能力，而不是玩弄票据投资，比如艰深难懂的衍生品。

Three billion Asians want their governments to invest their hard-earned surpluses in tangible productive capacity that they can see rather than playing with paper investments , such as esoteric derivatives .

美联储（federalreserve）发布的数据显示，商业票据市场投资额出现了自该机构2001年开始跟踪这一领域以来的最大单周下降。

Data released by the US Federal Reserve showed the amount invested had its biggest weekly drop since the central bank began tracking the sector in 2001 .

平衡基金和股票，票据混合投资可以分散风险，本金，甚至更多。

Balanced funds mix stocks and bonds to spread risk and capital even more .

当20家拥有资产担保商业票据的投资渠道（或称为信托）在上月被置于法庭保护之下，并等待投资者核准时，这个声音愈加响亮。

That voice became louder after the 20 conduits , or trusts , holding ABCP were placed under court protection last month pending approval by investors .

想法很简单，但这些票据都不是投资单一证券。

While the idea is simple enough , these are not single-security notes .

一家大型货币市场基金“跌破1美元”，依赖于商业票据市场的投资银行难以筹集到运营资金。

A large money market fund " broke the buck " and investment banks that relied on the commercial paper market had difficulty financing their operations .

在那种情况下，货币扩张或财政扩张政策，以及银行业资产互换和担保政策，没有增加（而是减少了）安全优质资产的供应：这些政策使政府票据退出安全投资类别，转而进入高风险类别。

Then policies of monetary or fiscal expansion or of banking sector asset swaps and guarantees do not boost but reduce the supply of safe high-quality assets : they move government paper out of the safe and into the risky category .

可换股债券、股票挂钩票据、股票挂钩投资不会有一个流通的第二市场。

There is no liquid secondary market for Convertible Bonds , Equity Linked Notes or Equity Linked Investments .

商业票据市场仅对投资级企业开放。该市场所出现的问题将再度引发人们的担忧，即当前的流动性危机正从房地产市场和金融领域向美国经济其它领域蔓延。

The problems in the commercial paper market , which is only open to investment grade companies , will reopen fears that the current liquidity crunch is spreading from the housing market and the financial sector to other parts of the US economy .

7月中旬，资产支持商业票据投资者拒绝对其中一些票据进行再投资。

In mid-July , ABCP investors refused to roll over some of these notes .