Germany, Britain, and Japan all have similarly low long rates. And, in each of these countries, it is likely that interest rates will rise during the next few years, imposing losses on holders of long-term bonds and potentially impairing the stability of financial institutions.
美国并不是唯一一个长期利率极低甚至为负的国家。德国、英国和日本都存在极低的长期利率。这些国家的利率都有可能在未来几年中上升，给长期债券持有者带来损失，并可能破坏金融机构稳定。