Fleursdumal
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f4f ha scritto:Fleursdumal ha scritto:Usa: Bush nominera' Ben Bernanke a successore Greenspan (Wsj)
ecco il successore del nonnetto, il T-Bond festeggia a suo modo
che tipo è
un alzatore di tassi pazzo :smile:
bund & c.: la partenza a razzo. Seduti? Pronti? Viaaaaaa
- Creatore Discussione maria
- Data di Inizio
un alzatore di tassi pazzo :smile:
gastronomo
Forumer storico
UPDATE 3-Bush poised to name Bernanke to replace Greenspan
Mon Oct 24, 2005 12:44 PM ET
(New throughout)
By Caren Bohan
WASHINGTON, Oct 24 (Reuters) - President George W. Bush was poised to announce on Monday that he has picked top economic adviser Ben Bernanke to succeed Federal Reserve Chairman Alan Greenspan, knowledgeable sources said.
White House spokesman Scott McClellan said Bush would make an announcement at 1 p.m. EDT (1700 GMT) on the choice to replace Greenspan, whose 18-year tenure at the Fed runs out on Jan. 31.
Other sources said Bush was poised to pick Bernanke, the chairman of the White House Council of Economic Advisers and for months seen by many on Wall Street as the leading candidate to succeed Greenspan.
Bernanke served on the Fed's Board of Governors for nearly three years before going to the council in June. His move to the White House was watched with interest by financial markets, with many thinking it might be an audition for the top spot at the Fed.
"He's without question a safe pick, which is probably very high on the White House's list of important things with the nomination of (Harriet) Miers fiasco," said Chris Low, chief economist at FTN Financial in New York.
"Having said that, still, there are some pretty significant differences between Bernanke and Greenspan," Low added.
The nomination comes as the White House has been fending off accusations of cronyism over the pick of Harriet Miers, White House counsel and Bush's onetime personal lawyer, as a Supreme Court justice.
But Bernanke has only been on the White House senior staff for four months and has spent most of his career outside the political realm.
He chaired the Princeton University economics department and built a reputation as one of the country's top academic economists in monetary policy.
Before his nomination to the Fed, many of his Princeton colleagues did not even know he was a registered Republican.
While at the Fed, he advocated steps toward greater policy transparency. He also is a long-time advocate of inflation targets and has argued the central bank could help cement its inflation-fighting credibility by putting a number on its definition of price stability.
"He carries a lot of credibility in the marketplace. He's well-respected in terms of his knowledge and his experience at the Fed," said Alex Beuzelin, senior market analyst at Ruesch International.
Bernanke was confirmed to the Council of Economic Advisers job by a voice vote of the U.S. Senate in June.
Some analysts were concerned that Bernanke might lack sufficient independence, given his current job.
"He worries me as the next Fed head. He's very tied to what Bush wants, too. Having been made the head of the CEA, Bush has gotten to know him, and feels in control," said Josh Stiles, senior bond strategist at IDEAGlobal in New York.
The hastily arranged announcement allowed Bush to change the subject from some of the more negative news sweeping Washington recently, such as the investigation into who leaked a CIA operative's name that has ensnared top aides, and the troubled Miers nomination. (Additional reporting by Steve Holland, Tim Ahmann and Glenn Somerville)
Mon Oct 24, 2005 12:44 PM ET
(New throughout)
By Caren Bohan
WASHINGTON, Oct 24 (Reuters) - President George W. Bush was poised to announce on Monday that he has picked top economic adviser Ben Bernanke to succeed Federal Reserve Chairman Alan Greenspan, knowledgeable sources said.
White House spokesman Scott McClellan said Bush would make an announcement at 1 p.m. EDT (1700 GMT) on the choice to replace Greenspan, whose 18-year tenure at the Fed runs out on Jan. 31.
Other sources said Bush was poised to pick Bernanke, the chairman of the White House Council of Economic Advisers and for months seen by many on Wall Street as the leading candidate to succeed Greenspan.
Bernanke served on the Fed's Board of Governors for nearly three years before going to the council in June. His move to the White House was watched with interest by financial markets, with many thinking it might be an audition for the top spot at the Fed.
"He's without question a safe pick, which is probably very high on the White House's list of important things with the nomination of (Harriet) Miers fiasco," said Chris Low, chief economist at FTN Financial in New York.
"Having said that, still, there are some pretty significant differences between Bernanke and Greenspan," Low added.
The nomination comes as the White House has been fending off accusations of cronyism over the pick of Harriet Miers, White House counsel and Bush's onetime personal lawyer, as a Supreme Court justice.
But Bernanke has only been on the White House senior staff for four months and has spent most of his career outside the political realm.
He chaired the Princeton University economics department and built a reputation as one of the country's top academic economists in monetary policy.
Before his nomination to the Fed, many of his Princeton colleagues did not even know he was a registered Republican.
While at the Fed, he advocated steps toward greater policy transparency. He also is a long-time advocate of inflation targets and has argued the central bank could help cement its inflation-fighting credibility by putting a number on its definition of price stability.
"He carries a lot of credibility in the marketplace. He's well-respected in terms of his knowledge and his experience at the Fed," said Alex Beuzelin, senior market analyst at Ruesch International.
Bernanke was confirmed to the Council of Economic Advisers job by a voice vote of the U.S. Senate in June.
Some analysts were concerned that Bernanke might lack sufficient independence, given his current job.
"He worries me as the next Fed head. He's very tied to what Bush wants, too. Having been made the head of the CEA, Bush has gotten to know him, and feels in control," said Josh Stiles, senior bond strategist at IDEAGlobal in New York.
The hastily arranged announcement allowed Bush to change the subject from some of the more negative news sweeping Washington recently, such as the investigation into who leaked a CIA operative's name that has ensnared top aides, and the troubled Miers nomination. (Additional reporting by Steve Holland, Tim Ahmann and Glenn Somerville)
gastronomo
Forumer storico
Treasuries fall on expected Fed nomination
Mon Oct 24, 2005 12:51 PM ET
(Adds reaction to Bernanke, comments and two-year note auction announcement; updates prices)
NEW YORK, Oct 24 (Reuters) - U.S. Treasury debt prices dipped on Monday on expectations White House economic adviser Ben Bernanke would be named later on Monday to head the U.S. Federal Reserve once Alan Greenspan retires early next year.
Some sources dismissed the price movements, saying they reflected generalized jitters that would accompany any succession at the U.S. central bank.
"Right now you have Treasuries losing ground on the element of uncertainty in any transition -- though Bernanke is a known quantity and everyone knew we were losing Greenspan at the end of January," said John Canavan a bond market analyst at Stone and McCarthy Research Associates in Princeton, New Jersey. "Longer term, however, from a market perspective, Bernanke is seen as a good choice," Canavan added.
But an undercurrent of anxiety surrounding Bernanke and his history as an inflation targeter was also cited in the bond market, and traders and strategists said downward movement in prices was consistent with such worries.
Inflation targeters tie decision-making on interest rates to specific inflation levels. The practice worries some in the bond market because it can be overdependent on past inflation data instead of anticipating economic developments.
"The bottom line is that he's been wrong about what's happening with inflation for two years," said Josh Stiles, senior bond strategist at IDEAglobal in NEW YORK. "He's more focused on structural disinflation forces than he is on the cyclical inflationary forces from excessive accommodation," Stiles said.
Traders said the movement was across the yield curve, but was concentrated on longer-dated securities -- a reflection of market worries about risk an inflation targeter might not be able to keep inflation under control.
Benchmark 10-year notes (US10YT=RR: Quote, Profile, Research) , which reflect longer-term inflation worries more than shorter-dated notes, fell 17/32 to yield 4.46 percent from 4.39 percent on Friday.
Trade on two-year notes (US2YT=RR: Quote, Profile, Research) was much more subdued after the news of Bernanke's likely appointment. Prices were down 3/32 to yield 4.26 percent from 4.21 percent on Friday.
"They're not embracing this guy right out of the chute," said a bond trader at one of Wall Street's primary Treasuries dealers. "He's going to have to prove his mettle."
Five-year notes (US5YT=RR: Quote, Profile, Research) fell 9/32 to yield 4.33 percent from 4.26 percent on Friday.
The 30-year bond (US30YT=RR: Quote, Profile, Research) also moved more aggressively, sliding 1-5/32 for a yield of 4.68 percent from 4.60 percent.
Monday's losses did not move the market out of its recent ranges, though many in the market say they expect yields to keep trending higher, and prices lower, as the Fed's continuing fight to control inflation evolves.
"The broader direction remains fairly negative for bonds with downside for prices and upside for yields. I don't think last week's rally changed that. It was just a technical correction," said Canavan.
The White House said it would make an announcement at 1 p.m., and although it would not confirm the choice of Bernanke, a knowledgeable source told Reuters he would become the next Fed chairman.
In all the excitement surrounding Bernanke, the Treasury Department's announcement that it plans to offer $20 billion in two-year notes on Wednesday almost passed unnoticed
Mon Oct 24, 2005 12:51 PM ET
(Adds reaction to Bernanke, comments and two-year note auction announcement; updates prices)
NEW YORK, Oct 24 (Reuters) - U.S. Treasury debt prices dipped on Monday on expectations White House economic adviser Ben Bernanke would be named later on Monday to head the U.S. Federal Reserve once Alan Greenspan retires early next year.
Some sources dismissed the price movements, saying they reflected generalized jitters that would accompany any succession at the U.S. central bank.
"Right now you have Treasuries losing ground on the element of uncertainty in any transition -- though Bernanke is a known quantity and everyone knew we were losing Greenspan at the end of January," said John Canavan a bond market analyst at Stone and McCarthy Research Associates in Princeton, New Jersey. "Longer term, however, from a market perspective, Bernanke is seen as a good choice," Canavan added.
But an undercurrent of anxiety surrounding Bernanke and his history as an inflation targeter was also cited in the bond market, and traders and strategists said downward movement in prices was consistent with such worries.
Inflation targeters tie decision-making on interest rates to specific inflation levels. The practice worries some in the bond market because it can be overdependent on past inflation data instead of anticipating economic developments.
"The bottom line is that he's been wrong about what's happening with inflation for two years," said Josh Stiles, senior bond strategist at IDEAglobal in NEW YORK. "He's more focused on structural disinflation forces than he is on the cyclical inflationary forces from excessive accommodation," Stiles said.
Traders said the movement was across the yield curve, but was concentrated on longer-dated securities -- a reflection of market worries about risk an inflation targeter might not be able to keep inflation under control.
Benchmark 10-year notes (US10YT=RR: Quote, Profile, Research) , which reflect longer-term inflation worries more than shorter-dated notes, fell 17/32 to yield 4.46 percent from 4.39 percent on Friday.
Trade on two-year notes (US2YT=RR: Quote, Profile, Research) was much more subdued after the news of Bernanke's likely appointment. Prices were down 3/32 to yield 4.26 percent from 4.21 percent on Friday.
"They're not embracing this guy right out of the chute," said a bond trader at one of Wall Street's primary Treasuries dealers. "He's going to have to prove his mettle."
Five-year notes (US5YT=RR: Quote, Profile, Research) fell 9/32 to yield 4.33 percent from 4.26 percent on Friday.
The 30-year bond (US30YT=RR: Quote, Profile, Research) also moved more aggressively, sliding 1-5/32 for a yield of 4.68 percent from 4.60 percent.
Monday's losses did not move the market out of its recent ranges, though many in the market say they expect yields to keep trending higher, and prices lower, as the Fed's continuing fight to control inflation evolves.
"The broader direction remains fairly negative for bonds with downside for prices and upside for yields. I don't think last week's rally changed that. It was just a technical correction," said Canavan.
The White House said it would make an announcement at 1 p.m., and although it would not confirm the choice of Bernanke, a knowledgeable source told Reuters he would become the next Fed chairman.
In all the excitement surrounding Bernanke, the Treasury Department's announcement that it plans to offer $20 billion in two-year notes on Wednesday almost passed unnoticed
rob.luc
Forumer storico
f4f ha scritto:Fleursdumal ha scritto:occhio rob : f4f ci prova con tutti
cmq la vexata quaestio è:
covered call è sempre ed assolutamente uguale a vendita put?
pemmia, no
ciao f4f,ti rispondo quì.
premesso che a uno può sempre capitare di scivere qualche stupidaggine,nel caso in essere,pensavo che in risposta a questa battuta il maiuscolo e i 3 smile fossero sufficiente motivo di dubbio:
"che non venga fuori nessuno a dirmi che è equivalente ad una vendita di put ... è vero solo a scadenza ... icon_razz.gif
icon_lol.gif icon_lol.gif icon_lol.gif "
dopo la tua risposta "assonnata" ho pensato di chiudere la questione con un"buona colazione".
veniamo al dubbio.qualsiasi cosa tu vedi scritta(anche dal più guru dei guru
) la questione è:+ long fib = +2c -2p stesso strike e scadenza(non solo le atm).
ora se a questa formula aggiungi (il covered call)-2c rimane:
+2c -2p -2c= ?(soluzione del dubbio
)cosa contraria per le put.
ciao roberto
p.s. aldilà della battuta,quello che volevo rimarcare era il p.s. poi chiarito successivamente
p.s sorry per ieri sera, ma il sergente s'incavola se mi "attardo"
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