The extra yield one borrower pays over a benchmark — here the gap between French and German 10-year bonds. That gap is the price the market puts on France's extra risk.
「利差」
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| 152 bp | France's risk premium overtakes Italy's as bond investors price a default 「利差」 · 第 2 张术语卡 | 152 basis points: France now pays more over Germany than Italy or Greece does — the first time since the euro crisis that a core country has been repriced this way. 为什么拿德国当基准？因为德债被视为欧元区的无风险资产。法国过去被归为「核心国」，利差常年只有几十个基点；如今它反超意大利和希腊，等于市场把法国从「核心」挪到了「准核心」。判断一个国家会不会出事，先看它相对德国的利差有没有加速走阔。 |