债务凭证 meaning in English

cdo squareds
synthetic cdo

Bonds are debt owed by a government or a company
债券是一种由政府或公司发行的债务凭证。
The most essential difference between them is as follows : bond is debt obligation while stock is approval of right of ownership
最本质的区别是：债券是债务凭证，而股票则是所有权的证明。
Bonds and stocks are all securities . the most essential difference is that , bonds are warrant for liabilities , while stocks are certificate for ownership
债券与股票都是证券，但两者有区别。最本质的区别是：债券是债务凭证，而股票则是所有权的证明。