However, unlike loans, bonds can be traded in the open market, ie. the investor need not hold it to maturity or suffer a pe-nalty should he choose to sell the bond.

• 但它和普通债务不同，因债券可在公开市场买卖，换句话说，投资者不需要长期持有至到期日，也不会因提早卖出而缴付违约金。