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High-yield bonds 高利债券 An appetite for junk 来点垃圾 Companies have taken advantage ofinvestors growing willingness to buy speculativebonds 公司很好的利用了投资者日益高涨的购买投机性债券的意愿 WHEN cash deposits pay virtually zero, investors have an incentive to take risks in searchof higher returns. 当存款利率近乎于零，投资者便会冒险寻求更高收益。 That has been good news for the high-yield, or junk, bond market, where companies withpoor credit ratings turn for finance. 而这对于高利债券、或垃圾债券市场来说，无疑是个好消息，那些信用评级差的公司通常通过这种方式融资。 Many companies can now borrow at rates that governments would have been pleased toachieve two decades ago. 现在，许多公司可以以各国政府二十年前喜闻乐见的利率获得投资。 Indeed, so low have borrowing costs fallen that some wags have dubbed the market theasset class formerly known as high-yield. 诚然，借贷成本降至如此之低，甚至有人将其戏称为前高利债券。 Until the hiatus related to the budget crisis inAmerica, companies were rushing to takeadvantage of this financing opportunity. | 
