As machines prove themselves in equities and derivatives, they are growing in debt markets, too.

随着机器在股票和衍生品领域证明自己的价值，它们在债券市场也在增长。

Mary McDougall covers the government debt market for the FT, and she joins me now.

玛丽·麦克杜格尔为《金融时报》报道政府债券市场，她现在加入了我们的讨论。

They use Treasury funds to back the corporate bond and municipal debt markets, among other things.

他们利用国库资金支持公司债券和市政债券市场等。

America is home to the world's biggest sovereign debt market.

美国是世界上最大的主权债务市场的所在地。

This pile of debt consists of leveraged loans and borrowing from private debt markets.

这堆债务包括杠杆贷款和来自私人债务市场的借款。

And this is really important because it affects Greece's ability to borrow on global debt markets.

这一点非常重要， 因为它会影响希腊在全球债务市场上借款的能力。

The cause of this divergence is a strong dollar, which is making emerging markets' debts that are denominated in the currency costlier to service.

出现这种差异的原因是因为一种强势货币，使得新兴市场中以货币为面值的债务成本高于服务。

It would prop up member states with vulnerable debt markets like Italy if their borrowing costs start to spiral after central bankers raise rates.

如果中央银行家加息后，意大利等债务市场脆弱的成员国的借贷成本开始飙升的话，它会为这些国家提供支撑。

So yesterday the central bank launched an emergency bond-buying programme to stabilise the government debt markets and pensions.

因此，昨天央行启动了一项紧急债券购买计划， 以稳定政府债务市场和养老金。

In the private debt market, where default rates tend to be higher, borrowers are confronting similar woes.

在违约率往往较高的私人债务市场，借款人也面临着类似的困境。

But part of it as well is they’ve had to go to the international community and gone to international debt markets.

但部分原因是他们不得不求助于国际社会，求助于国际债务市场。

Just last year in response to the pandemic, the Federal Reserve took rates to zero, restarted its bondbuying program and broke new ground by moving into corporate and municipal debt markets.

就在去年，为了应对疫情，美联储(Federal Reserve)将利率降至零，重启了债券购买计划，并通过进入公司和市政债券市场开辟了新的领域。

The following month, the International Organisation of Securities Commissions, a global regulatory body, warned about the risks of leverage and the opacity of private debt markets.

接下来的一个月，全球监管机构国际证券委员会组织就杠杆风险和私人债务市场的不透明性发出了警告。

Problems in floating-rate debt markets are unlikely to cause a financial crisis, but the murkiness and growing size of private markets in particular mean that regulators have decided to take a closer look.

浮动利率债务市场的问题不太可能引发金融危机，但私人市场的黑暗和规模不断扩大尤其意味着监管机构已决定进行更仔细的调查。

In his Report on Public Credit presented to Congress in January 1790, Hamilton argued that the United States must demonstrate its trustworthiness in debt markets by repaying the debt owed to domestic and foreign creditors.

汉密尔顿在 1790 年 1 月向国会提交的公共信用报告中指出，美国必须通过偿还国内外债权人的债务来证明其在债务市场上的可信度。