The Chinese Premier took a studiously neutral view on future purchases of US Treasury bills this year .

谈到中国今年购买美国 国债的计划，这位中国总理刻意表达了中性看法。

The central bank he said could also buy more state bonds issued by other major economies and decrease holdings of US Treasury bills .

他说，中央银行可以多买一些由其它主要经济大国发行的 国库券以减少美元的持有量。

Please understand no one cares more about this than we do since Americans own 87 percent of all our financial assets and 69 percent of all our treasury bonds while China owns 1 percent of our financial assets and 8 percent of our treasury bills respectively .

请理解，没有谁比我们更关心这种状况，因为美国人持有我们全部金融资产的87%以及我们全部国债的69%，而中国持有我们的金融资产和 国债比例分别为1%和8%。

Treasury bills are about as safe an investment as you can make .

短期 国库券是你能做出的最安全的投资。

We also sell 100m covered options on the event which nets us $ 10m . We put this $ 10m too in Treasury bills which allows us to sell another 10m options .

我们还出售1亿份担保期权，这让我们净入1000万美元。我们同样将这1000万美元投资 国债，使自己可以再出售1000万份期权。这又带来了100万美元的净收入。

This in turn has led to the panic purchases of US Treasury bills shown in the chart .

这进而导致美国 国债出现恐慌性购买。

Instead of just holding these balances in short-term US Treasury bills they have created sovereign wealth funds with sophisticated investment strategies .

它们创立了采用精密投资策略的主权财富基金（ swf），而不再只是把这些外汇储备用于 购买美国短期 国债。

Yesterday some short-term US Treasury bills were quoted near or below zero per cent .

昨日，一些短期美国 国债 的 收益率报价几乎为零，甚至在零以下。

Had Chinese reserves been held in gold rather than in US Treasury bills the Fed would have been obliged to raise interest rates ; as it was it could run a cheap money policy .

若中国持有的外汇储备不是美国 国债而是黄金，美联储（fed）将不得不提高利率；事实并非如此，美联储才得以推行宽松的货币政策。

The return on this bond will be the same or higher than those on US Treasury bills as the issuers of the bond have a better ability to pay than the US government .

这种债券的收益率将与美国 国债相同或更高，因为这些债券发行人的偿付能力强于美国政府。

The minimum investment for government bonds is S $ 1 and treasury bills is S $ 10 .

政府债券的最低投资额是1000元，而 国库券的最低投资额是1万元。

Yields on four-week Treasury bills have been driven below zero .

为期4周的 短期 国债收益率已因为该担忧而降至零以下。

THE MONEY MORKET ▲ Treasury Bills : T-bills represent the simplest form of borrowing : The government raises money by selling bills to public .

货币市场▲ 国库券：国库券代表借款的最简单形式：政府通过向公众出售国库券筹集资金。

The spread between corporate bonds and 10-year Treasury bills another measure of firm-level risk increased four-fold over the same period .

同期，公司债与10年期 美国 国债之间的息差衡量企业层面风险的另一个标准扩大了4倍。

China for example bought $ 5bn of bonds and notes in December but sold $ 9bn of Treasury bills .

比如，中国在12月份购买了50亿美元的债券和票据，但卖出了90亿美元的 美国 短期 国债。

Treasury bills maturing later this month and in early November rose above 30 basis points their highest level since late 2008 when the Federal Reserve adopted a zero interest rate policy and anchored short-term interest rates .

本月晚些时候和11月初到期的 美国 短期 国债 的 收益率升至30基点上方，这是自2008年末美联储（FederalReserve）出台零利率政策、锚定短期利率以来的最高水平。

The Bank of Japan expanded its asset purchase programme by y5tn to y45tn but only through buying of treasury bills rather than longer maturity Japanese government bonds although analysts suggested that the central bank was merely preserving its ammunition for later .

日本央行将其资产购买计划中对短期国债的购买规模增加5万亿日元，至45万亿日元，对期限较长的日本 国债的购买规模则没有扩大尽管有分析师提出，日本央行只是为了后续操作保存弹药。

Nor is this all : on Monday short-term yields on Treasury bills were below 1 per cent ; credit default swap spreads on financial institutions reached exceptional levels and credit spreads on riskier bonds were widening rapidly .

但问题不仅于此：周一短期 国债收益率低于1%；金融机构的信用违约互换（cds）息差上升到异常水平；高风险债券的信贷息差迅速扩大。

Fixed income funds invest in some combination of treasury bills debentures bonds and mortgages .

固定收入基金投资一些 国库券、府债券、业债券和抵押证券的组合。

The fund 's assets primarily invested in short-term monetary instruments such as Treasury bills commercial paper certificates of deposit banks regularly the government short-term bonds corporate bonds and other short-term securities .

该基金资产主要投资于短期货币工具如 国库券、商业票据、银行定期存单、政府短期债券、企业债券等短期有价证券。

The other driving force the lack of financing for sovereign debt could be dealt with by the ECB lowering its discount rate and encouraging countries in difficulties to issue treasury bills and prompting the banks to subscribe .

另一个主要因素无力为主权债务融资也可以通过欧洲央行解决，方法是降低贴现率，鼓励陷入困境的国家发行 短期 国债，然后鼓动银行认购。

We put our $ 100m in Treasury bills yielding 4 per cent .

我们用我们的1亿美元投资于收益率为4%的 国债。

The government-issued promissory notes include three types of securities and they are treasury bills treasury notes and treasury bonds .

政府发放的期票包括 短期 国库券、中期国库券和长期国库券三种证券。

Over the long run equities and corporate bonds should provide a positive return over a risk-free rate such as Treasury bills ;

经过长期经营，股票和公司债券会给出还不错的回报，高于类似 国债那样的无风险利率。

Three-month Treasury bills pay exactly nothing .

三个月的 短期 国债利率为零。

Insurers will also be allowed to invest in host of other Chinese financial instruments including Treasury bills and exchange-traded funds .

保险公司也将获准投资中国大陆其它多种金融工具，包括 国债和交易所交易基金（ETF）。

Domestic banks will no doubt roll over the small amounts of short-term treasury bills maturing in coming months . The victims of Athens ' empty coffers will be not bond markets but Greek public sector employees or benefit claimants .

希腊国内银行无疑将对未来几个月内到期的短期 国债进行展期。因此，希腊国库空虚的受害者将不会是债市，而是希腊公共部门的员工，或者领取社会福利的人。

Other liquid assets are commercial bills and Treasury bills issued by the Government .

其他的流动资产有商业票据和政府发行的 国库券。