credit default swap

Credit default swaps were widely used by investors to hedge against the risk of sovereign default.投资者广泛使用信用违约掉期来对冲主权债务违约的风险。

The credit default swap market expanded dramatically in the years before the 2008 financial crisis.在2008年金融危机爆发前的几年里，信用违约掉期市场急剧扩张。