A large chunk of Asia's reserves and oil exporters' petrodollars have been used to buy American Treasury securities, thereby reducing bond yields.
大量的亚洲储备以及石油输出国的石油美元被用于购买美国国债,导致了国债收益率的下降。
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At first these went into safe, liquid assets like American Treasury bonds-the Asian financial crisis of 1997-98 was still a recent memory and many countries were keen to amass reserves.