Only two cheers that governments and companies are issuing more long-dated debt. On the one hand, it is a welcome return to normality. After all, you cannot expect roads and companies' investment plans to be financed solely with 90-day money. But it is also bad in that longer-dated debt costs more. That is especially so at the moment, given the steepness of the yield curve. Companies might be able to afford it. Governments cannot.
我們只能為政府和企業發行期限更長的債務稍作歡呼。一方面，這是向正常的回歸，是受歡迎的。畢竟，你不能指望公路與企業的投資計劃完全依靠90天期的債券進行融資。但這種做法也有不好的一面，因為期限更長的債務成本也會更高。考慮到目前收益率曲線的陡峭度，情況尤其如此。企業也許負擔得起。但政府不能。
您已閱讀25%（577字），剩余75%（1773字）包含更多重要信息，訂閱以繼續探索完整內容，并享受更多專屬服務。