哪位高人帮忙翻译一下这句话？

求助：哪位高人帮忙翻译一下这句话？

Market spreads taking account of credit and liquidity risk had arguably become too compressed pre-August 2007, and are now wider than they should be long-term. But it is not clear what the appropriate level should be。

晕啊！！！不会了的啊

Market spreads( taking account of credit and liquidity risk) had arguably become too compressed pre-August 2007, and are now wider than( they should be long-term). But it is not clear what the appropriate level should be。



由于信贷和资产流通的风险,市场扩张在2007年4月前一直可以说是紧缩的,现在的市场却比应该长期开放的程度更加开放.然而,现在还不清楚开放到什么程度才是合适的.