A major appeal of investing in bonds is that they provide investors with a steady stream of income and guarantee the repayment of the loan in full at maturity. Bonds also appeal to investors because of their scope for capital appreciation. Take for instance a fall in interest rates, in this case bonds which were issued when interest rates were high will become increasingly valuable and as the bond price rises, this provides profit for bond sellers.// In addition, if interest rates had fallen significantly over a period of time, economic growth would be stimulated as lower borrowing costs and savings rates would encourage businesses to invest and households to consume. In such a low interest-rate environment, it may still be good for investors to consider investing some money in bonds because they will be able to achieve a higher return than cash deposits.// Equities and government bonds are well suited to some investors. Younger investors will benefit from equity capital growth because they are generally investing for the longer term and not unduly concerned with the lack of immediate yield. Investors concerned with avoiding risk will be prepared to accept the relatively low yields now available on government bonds.// But many investors fall somewhere between these two extremes. In recent years, financial markets have become increasingly polarized between growth and security. Investors looking for medium and low risk are increasingly turning to the corporate bond market as an alternative to equities and government bonds.//

　　债券吸引人的一大特点是让投资者有一笔有固定的收入，到期时能收回借出的资金。债券也有增值的机会，例如在利率下跌时，那些在利率高时发行的债券价格将会升高，让债券持有人有机会赚取利润。//此外，如果利率在过去一段时间里明显下跌，会刺激经济增长，因为较低的贷款成本和储蓄利率将鼓励商家投资，带动家庭消费。在这样的低利率环境下，投资人可以考虑把一些资金投资在债券上，因为投资者将取得高于现金存款的回报。//股票和政府债券非常适合某些投资者的胃口。年轻的投资者一般从股票的资本增值中获益，因为他们通常做长线投资，不太在意眼前的收益。想规避风险的投资者则愿意购买目前收益相对较低的政府债券。//但是很多人选择在股票和政府债券这两者之间进行金融投资。今年来金融市场的投资增值与投资安全日趋分化。那些只愿承受中低风险的投资人都转向公司债券。公司债券是股票和政府债券的理想替代品。//