高杠杆

1933年美国经济学家艾文费希尔首先提出债务通缩的概念，它是由价格下跌和高杠杆相互作用所产生的致命结果。

A deadly mix of falling prices and high leverage could foment a " debt-deflation " of the type first described by Irving Fisher , an American economist , in1933 .

网站允许股票投资者出借资金代理股票买卖，随着去年6月股票市场动荡，为避免高杠杆投资，禁止借贷炒股。

The website allowed stock investors to trade on margin with borrowed funds , a practice that became prohibited following the stock market rout in June last year in order to prevent high leverage .

高杠杆有助于解释股市为何在过去一年里如此快速地上涨。

High levels of leverage help explain why stocks ran up so quickly over the past year .

由高杠杆和信息不对称所导致的不正当激励会使资产投资项目的融资风险转嫁给银行。

Malfeasance resulting from high lever and information asymmetry will transfer the financing risks from investment projects to banks .

例如，一些经济学家已经令人信服的指出低政策利率刺激了证券市场（更）高杠杆（率）的增长。

Several economists have argued convincingly , for instance , that low policy rates fuelled broader leverage growth in securitised markets .

去年夏季，形势变得更为严峻，当时该银行旗下两只对冲基金因投资于糟糕的高杠杆抵押贷款证券而破产。

The problem worsened last summer when the the two bear hedge funds collapsed on bad , highly leveraged mortgage bets .

上周，大西洋两岸的这一趋势有所加速，原因是投资者匆忙对复杂结构性产品的高杠杆头寸进行平仓。

The trend accelerated on both sides of the Atlantic last week as investors rushed to unwind highly leveraged positions in complex structured products .

但这些模型没有解释，为何那根绳索必须要在借款人脖子缠上30多圈就像在高杠杆银行的情况中那样。

Yet these models do not explain why the leash has to be wrapped around borrowers ' necks three dozen times , as in the case of a highly leveraged bank .

中国国有企业所遭受的巨额亏损与国际投行恶意兜售带有欺诈性的、设计复杂的高杠杆产品有很大的关系，李伟写道。

The large losses suffered by Chinese state companies were closely associated with the intentionally complex and highly leveraged products that were fraudulently peddled by international investment banks with evil intentions , Mr Li said .

流动性逆转的原因包括大幅波动的货币政策等宏观方面因素，也包括金融机构的高杠杆率的迅速扩张和收缩等微观方面的原因。

The reason of liquidity reversal includes currency policy sharp fluctuations and other macro-economy factors , and the micro economy factors such as financial institutions rapid expansion and contraction on highly leverage ratio are also included .

这一趋势引人注目，因为它表明信贷紧缩已开始影响公司的融资计划，不只是高杠杆领域，也影响到主流投资级别领域。

The trend is striking since it shows that the credit crunch is starting to affect the financing plans of companies , not just in the highly leveraged sector but in the mainstream investment grade arena as well .

想象一下，如果在过去10年里那些杰出人才一直在从事更有价值的工作，而不是进行高杠杆并购交易，或追求（常常虚幻的）绝对回报率，他们可能会取得怎样的成就。

Think what the outstanding talents of the past decade might have achieved if they had been employed on more worthy tasks than highly leveraged mergers and acquisitions , or the pursuit of ( often illusory ) absolute returns .