Cost of debt has gone up a lot this year.

今年债务成本上升了很多。

The backdrop is a shift in the relative costs of debt and equity finance.

背景是债务和股权融资的相对成本发生了变化。

Moreover, with the cost of debt rising, owners of office towers, hotels, shopping malls and other types of property risk being stuck with lower returns on assets that may now be overpriced.

此外，随着债务成本上升，写字楼、酒店、购物中心和其他类型房地产的所有者面临资产回报率下降的风险，而这些资产现在可能被高估了。

The Fed has said it is ready to keep interest rates higher for longer which, together with a slowdown in hiring and jumpy bond yields inflating the cost of debt, will dampen growth.

美联储表示， 准备在更长时间内维持较高的利率，再加上招聘放缓和债券收益率波动推高债务成本，将抑制经济增长。