Europe's sovereign-debt crisis has sent many portfolio managers fleeing the region. But some intrepid U.S. investors are venturing across the pond to snap up corporate bonds at cut-rate prices.
欧洲主权债务危机已经让很多基金经理逃离这一地区。但一些胆大的美国投资者正在低价抢购大西洋彼岸的公司债券。
Some are buying junk-rated bonds of European companies. Others are takingadvantage of a growing price gap between European and U.S. bonds of international companies such as Levi Strauss and Hertz Global Holdings. And some even say there is money to be made in debt of Greek banks.
一些投资者所买的是欧洲公司的垃圾级债券。另一些人则利用李维斯(Levi Strauss)和Hertz Global Holdings.等国际公司发行的欧、美债券之间越来越大的价差。还有一些人甚至说，希腊的银行发行的债券也是有钱可挣的。
'It's only every once in a while that you have an opportunity like this,' says Ming Shao, a director at DuPont Capital Management, which manages $10 billion of fixed-income investments, mostly for parent company DuPont.
杜邦资产管理公司(DuPont Capital Management)董事Ming Shao说，这种机会是偶尔才有的。杜邦资产管理公司管理着100亿美元的固定收益投资，其中多数是为母公司杜邦管理的。
Mr. Shao has increased DuPont's exposure to European bonds by about 5% since September, likening the selloff to similar troubles in credit markets in 1998, 2003 and 2008, times that ended up being good moments to buy.
自9月份以来，Shao已将杜邦的欧洲债券敞口提高5%左右。他把欧债价格的下跌比作1998年、2003年和2008年信贷市场遇到的类似麻烦。后来事实证明，那些时候正是买入的好时机。
Investors are buying
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