On average, junk bonds yield 4.77%, compared to less than 1.1% for bonds overall.

平均而言，垃圾债券的收益率为4.77%，而债券整体收益率不到1.1%。

Essele says, who calls this disconnect " the main structural pitfall" of junk bond ETFs.

Essele说到，他将这种脱节称为垃圾债券ETFs的“主要结构性陷阱”。

So What are junk bonds? Some quick background: Companies can raise money by issuing equity (stocks) or debt (bonds).

所以什么是垃圾债券？以下是简单的背景介绍： 公司可以通过发行股票或债券筹集资金。

Boyd says it might benefit you to think of junk bonds as an add-on to your equities holdings.

Boyd表示，把垃圾债券看作是对你所持股票的附加投资可能会对你有好处。

The US junk bond market is shrinking.

美国垃圾债券市场正在萎缩。

But the experts are quick to point out that this benefit is only in comparison to holding individual junk bonds.

但专家很快指出，这种收益只是与持有个人垃圾债券相比较而言。

She is one Kit Kat away from junk bond status.

她就是个猛啃巧克力的垃圾股。

Yeah, you told me. -It's all manipulated with junk bonds.

对 你告诉过我 -都是垃圾债卷在操作。

And then in the eighties, you had the birth of junk bonds.

然后在八十年代， 垃圾债券诞生了。

She says there are a few reasons why the junk bond supply is significantly smaller now.

她表示，目前垃圾债券供应量明显减少有几个原因。

What's more, fees on junk bond ETFs range from roughly 0.15% to 1% of assets invested per year, with some creeping even higher.

此外，垃圾债券ETFs每年的管理费约占投资资产的0.15%至1%，有些甚至还在攀升。

Inflation has hit its lowest level in more than two years and people are moving away from junk bonds.

通货膨胀已降至两年多来的最低水平， 人们正在远离垃圾债券。

Harriet says the junk bond market is still a huge one, but we should care that it's shrinking.

哈里特说，垃圾债券市场仍然是一个巨大的市场，但我们应该关心它正在萎缩。

Low interest rates driven by Federal Reserve policy has encouraged companies to borrow - leading to a record $51.5 billion of junk bonds issued in June.

由美联储政策推动的低利率鼓励企业贷款——导致6月份发行了创纪录的515亿美元垃圾债券。

That has been good news for the high-yield, or junk, bond market, where companies with poor credit ratings (below the investment-grade threshold of BBB) turn for finance.

这对于高收益债券市场或者垃圾债券市场来说，是好消息.在那里，低信用评级的企业，也就是低于投资评级BBB级门槛的企业，可以寻求融资机遇.

We're not going to talk about safe and unsafe, because there's a lot of junk bonds, there's a lot of bad bonds.

我们不会谈论安全和不安全，因为有很多垃圾债券， 有很多不良债券。

If you want to include junk bond ETFs in your portfolio, experts say it's wise to keep only a small fraction of your money in this asset class.

如果想在投资组合中加上垃圾债券ETFs，专家说，明智的做法是将一小部分钱投入该资产类别中。

In the wake of Lehman's collapse, the spread (or excess interest rate) on junk bonds rose so far that it implied default on a scale not seen since the Great Depression.

雷曼兄弟破产后，随之而来的是垃圾债券的价差(或超额利息)上涨，到目前为止，这意味着自大萧条以来最大规模的债务违约上演.