Indeed, the US stock market and many others have rebounded more than 100% since the lows of 2009; issuance of high-yield “junk bonds” is back to its 2007 level; and interest rates on such bonds are falling. Moreover, low interest rates are leading to high and rising home prices – possibly real-estate bubbles – in advanced economies and emerging markets alike, including Switzerland, Sweden, Norway, Germany, France, Hong Kong, Singapore, Brazil, China, Australia, New Zealand, and Canada.
事实上，自2009年低点以来，美国股票市场和许多其他国家的股票市场都已反弹超过100%；高收益“垃圾债券”的发行量回到了2007年的水平并且利率有所下降。此外，低利率会导致房价不断拉高——可能导致房地产泡沫——无论发达经济体和新兴市场都是一样，包括瑞士、瑞典、挪威、德国、法国、香港、新加坡、巴西、中国、澳大利亚，新西兰以及加拿大。