Derivati USA: CME-CBOT-NYMEX-ICE Bund, T-bond, T-note, Crude,....(vietato ai minori di 75aa)
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- Data di Inizio
gastronomo
Forumer storico
Tornato ora 
10-year Treasury note yield flirts with 4 percent
Wed Sep 22, 2004 12:44 PM ET
(updates comment, prices)
By Ellen Freilich
NEW YORK, Sept 22 (Reuters) - U.S. Treasury yields hovered near five-month lows on Wednesday as weaker stocks and higher oil prices helped drive 10-year yields down to 4 percent.
"It's the combination of higher oil prices and weaker stocks and the growing popularity of the theory that the Federal Reserve will pause (on its monetary tightening path)," said Josh Stiles, senior bond strategist at IDEAglogal.
Meanwhile, banking on the persistence of a low inflation, traders are doing curve flattening trades, shrinking the gap between 10- and two-year yields, Stiles said.
At midday, the spread between two- and 10-year yields had shrunk to 154 basis points, the smallest since September 2001.
Analysts said the market was betting that weaker stock prices and higher oil prices could interfere with economic growth, particularly if higher oil prices depress consumer demand for other items.
Oil prices climbed above $48 a barrel on Wednesday after U.S. data showed the disruption caused by Hurricane Ivan had eaten into fuel stocks. Heating oil futures brushed record levels as concerns grew that stocks could prove inadequate for the northern hemisphere winter.
Stiles said stronger economic data could be on the way and that the market was underplaying the potential inflationary impact of higher oil prices.
"But for the moment, the market is thinking short term," he said. "Investors are wondering: is the Fed going to pause in December? Is the rise in oil prices going to curtail consumer spending? Is it going to hold businessmen back from hiring?"
Analsyts said for now, long-dated securities were unwinding some of their inflation premium -- based on the Federal Reserve's latest statements on inflation.
On Tuesday, the Federal Reserve raised interest rates by a quarter-percentage point, noting that the economy appeared to have regained some traction and that even after the September 21 rate hike, monetary policy remained accommodative.
But the central bank's observation that inflation and inflation expectations "have eased in recent months" encouraged buyers of long-dated Treasuries. Inflation is the nemesis of fixed-income investments because it diminishes their value.
"The Fed sounded optimistic about growth, but its view that the risks of inflation and inflation expectations were reduced is the hallmark buy signal for the back end (of the maturity curve)," said Merrill Lynch Government Securities fixed-income strategist James Caron. "What's happening is that the inflation premium is being taken out of longer-dated securities."
As a consequence, gains are concentrated at the back end of the curve, Caron said, particularly 10- and 30-year maturities.
"The trade that hurts the most people is to higher prices," he said. "The market is still a little bit net short."
Near midday, the benchmark 10-year note (US10YT=RR: Quote, Profile, Research) , was up 8/32, its yield easing to 4.02 percent from 4.05 percent.
Short-term Treasuries were near unchanged, eyeing the prospect of another Fed rate hike by yearend, most likely in November. Short-term yields had eased recently on speculation that the Fed might soon pause in its campaign to push benchmark short-term rates up.
The notion that aggressive rate hikes may not be needed has been supportive of the market, said Parul Jain, deputy chief economist at Nomura Securities.
"After the last report on consumer prices (which showed that core consumer prices rose just 0.1 percent for the third month in a row) markets have become extremely calm," she said.
"It would take strong economic data to push Treasury yields upward as we expect will occur once the realities of higher official interest rates, large federal deficits, and stronger credit demand sink in," Jain said.
Analysts said the market was now eyeing a major chart barrier at 4 percent in the 10-year note yield, at which point many traders fear convexity buying on concerns about mortgage prepayments might kick in.
At the short end, two-year notes (US2YT=RR: Quote, Profile, Research) were unchanged, from Tuesday, their yields steady at 2.48 percent.
Five-year notes (US5YT=RR: Quote, Profile, Research) rose 2/32, their yields easing to 3.27 percent from 3.29 percent on Tuesday.
The 30-year bond (US30YT=RR: Quote, Profile, Research) , which rallied 13/32 on Tuesday, was up 16/32, its yield easing to 4.81 percent from 4.84 percent on Tuesday.
10-year Treasury note yield flirts with 4 percent
Wed Sep 22, 2004 12:44 PM ET
(updates comment, prices)
By Ellen Freilich
NEW YORK, Sept 22 (Reuters) - U.S. Treasury yields hovered near five-month lows on Wednesday as weaker stocks and higher oil prices helped drive 10-year yields down to 4 percent.
"It's the combination of higher oil prices and weaker stocks and the growing popularity of the theory that the Federal Reserve will pause (on its monetary tightening path)," said Josh Stiles, senior bond strategist at IDEAglogal.
Meanwhile, banking on the persistence of a low inflation, traders are doing curve flattening trades, shrinking the gap between 10- and two-year yields, Stiles said.
At midday, the spread between two- and 10-year yields had shrunk to 154 basis points, the smallest since September 2001.
Analysts said the market was betting that weaker stock prices and higher oil prices could interfere with economic growth, particularly if higher oil prices depress consumer demand for other items.
Oil prices climbed above $48 a barrel on Wednesday after U.S. data showed the disruption caused by Hurricane Ivan had eaten into fuel stocks. Heating oil futures brushed record levels as concerns grew that stocks could prove inadequate for the northern hemisphere winter.
Stiles said stronger economic data could be on the way and that the market was underplaying the potential inflationary impact of higher oil prices.
"But for the moment, the market is thinking short term," he said. "Investors are wondering: is the Fed going to pause in December? Is the rise in oil prices going to curtail consumer spending? Is it going to hold businessmen back from hiring?"
Analsyts said for now, long-dated securities were unwinding some of their inflation premium -- based on the Federal Reserve's latest statements on inflation.
On Tuesday, the Federal Reserve raised interest rates by a quarter-percentage point, noting that the economy appeared to have regained some traction and that even after the September 21 rate hike, monetary policy remained accommodative.
But the central bank's observation that inflation and inflation expectations "have eased in recent months" encouraged buyers of long-dated Treasuries. Inflation is the nemesis of fixed-income investments because it diminishes their value.
"The Fed sounded optimistic about growth, but its view that the risks of inflation and inflation expectations were reduced is the hallmark buy signal for the back end (of the maturity curve)," said Merrill Lynch Government Securities fixed-income strategist James Caron. "What's happening is that the inflation premium is being taken out of longer-dated securities."
As a consequence, gains are concentrated at the back end of the curve, Caron said, particularly 10- and 30-year maturities.
"The trade that hurts the most people is to higher prices," he said. "The market is still a little bit net short."
Near midday, the benchmark 10-year note (US10YT=RR: Quote, Profile, Research) , was up 8/32, its yield easing to 4.02 percent from 4.05 percent.
Short-term Treasuries were near unchanged, eyeing the prospect of another Fed rate hike by yearend, most likely in November. Short-term yields had eased recently on speculation that the Fed might soon pause in its campaign to push benchmark short-term rates up.
The notion that aggressive rate hikes may not be needed has been supportive of the market, said Parul Jain, deputy chief economist at Nomura Securities.
"After the last report on consumer prices (which showed that core consumer prices rose just 0.1 percent for the third month in a row) markets have become extremely calm," she said.
"It would take strong economic data to push Treasury yields upward as we expect will occur once the realities of higher official interest rates, large federal deficits, and stronger credit demand sink in," Jain said.
Analysts said the market was now eyeing a major chart barrier at 4 percent in the 10-year note yield, at which point many traders fear convexity buying on concerns about mortgage prepayments might kick in.
At the short end, two-year notes (US2YT=RR: Quote, Profile, Research) were unchanged, from Tuesday, their yields steady at 2.48 percent.
Five-year notes (US5YT=RR: Quote, Profile, Research) rose 2/32, their yields easing to 3.27 percent from 3.29 percent on Tuesday.
The 30-year bond (US30YT=RR: Quote, Profile, Research) , which rallied 13/32 on Tuesday, was up 16/32, its yield easing to 4.81 percent from 4.84 percent on Tuesday.
alan1
Forumer storico
Oggi ho preso una sbadilata nei denti come non mi accadeva da tempo 
,
ma quello che più mi brucia è che ieri sera avevo deciso di chiudere un paio di posizioni (alla pari e in piccolo gain) anche perchè la prossima settimana sono fuori,
ma non l'ho fatto.
Capita di rado che non sono disciplinato,
quando capita ho subito modo di pentirmene
.
,ma quello che più mi brucia è che ieri sera avevo deciso di chiudere un paio di posizioni (alla pari e in piccolo gain) anche perchè la prossima settimana sono fuori,
ma non l'ho fatto.
Capita di rado che non sono disciplinato,
quando capita ho subito modo di pentirmene
.
Fleursdumal
फूल की बुराई
mi dispiace Alan, stanno scalando in modo feroce
Fleursdumal
फूल की बुराई
la vola implicita sulle chiusure di ieri era ancora molto bassa, ai livelli minimi , 9,5% sulle opzioni ottobre e novembre, addirittura 8,1% su scadenza dicembre.
gastronomo
Forumer storico
US Treasuries drive higher on oil prices, equities
Wed Sep 22, 2004 03:24 PM ET
(Updates prices, adds comments; changes dateline; previous NEW YORK)
By Ros Krasny
CHICAGO, Sept 22 (Reuters) - U.S. Treasury prices rallied on Wednesday in response to rising oil prices, weak equities and lower inflation prospects.
Longer-dated issues led the way. Yields on the benchmark 10-year note (US10YT=RR: Quote, Profile, Research) , which move inversely to prices, dropped below 4.0 percent for the first time in five months.
Sliding U.S. stock prices boosted Treasuries on a day when some strategists had expected the opposite.
The blue chip Dow Jones industrial average fell 1.4 percent to its lowest in several weeks, and technology stocks suffered bigger losses.
Buying was also generated as NYMEX crude oil futures (CLc1: Quote, Profile, Research) surged above $48.50 per barrel to within sight of record highs. The latest oil price spike suggested gas prices at the pump could climb again after a few weeks' respite.
High energy prices act like a tax on consumers, cutting into disposable income, and could crimp hiring and capital investment if business confidence is bruised.
"Investors are wondering: Is the rise in oil prices going to curtail consumer spending? Is it going to hold businessmen back from hiring?" said Josh Stiles, senior bond strategist at IDEAglobal.
Sluggish sales at major chain stores recently have been blamed partly on high gasoline prices, and demand for big-ticket items such as auto has also suffered.
General Motors, the largest U.S. automaker, will hold a three-day sale with interest-free loans of up to six years to clear bulging inventories. "This suggests the soft patch is not over yet," said David Sloan, senior economist at 4CAST Ltd.
A report on August durable goods orders on Friday will give a reading on how the economy is faring after a wobbly summer. Wall Street forecasts orders to be flat compared with July.
Initial strength in bonds followed the Federal Reserve's comment after its policy meeting on Tuesday that inflation expectations "have eased in recent months."
The comment was taken by dealers as a license to buy, even with bond prices already high.
"The inflation premium is being taken out of longer-dated securities," said James Caron, Merrill Lynch Government Securities fixed-income strategist.
Gains were exaggerated by short-covering from firms caught flat-footed by recent strength.
"Large speculators were clearly wrong on the Treasury market, as the recent rally and the massive short-covering bout shows," said Tony Crescenzi, chief bond market strategist at Miller Tabak & Co.
Falling inflation prospects and the recent string of Fed rate hikes have helped narrow the spread between 10-year and two-year note yields to 153 basis points, a three-year low.
Speculators also bought on ideas that mortgage-related "convexity buying" could be triggered if the 10-year yield falls to 4.00 percent or 3.90 percent. Dealers have seen little of the anticipated mortgage sector buying so far.
Figures from the Mortgage Bankers Association on Wednesday showed new refinancing applications up for a third straight week, climbing 4.1 percent.
Brokers expect rapid mortgage prepayments if yields fall further. Adjustable-rate mortgages taken out earlier this year could be shifted to fixed-rate loans. The average 30-year mortgage rate is at the lowest since March.
The 10-year Treasury note rose 15/32 for a yield of 3.99 percent, down from 4.04 percent late Tuesday. Yields are at a major retracement point from the June 2003 low to the June 2004 high.
The 30-year bond (US30YT=RR: Quote, Profile, Research) was up 1-1/32, yielding 4.78 percent, down from 4.84 percent. Five-year notes (US5YT=RR: Quote, Profile, Research) were up 4/32 to yield 3.25 percent, against 3.28 percent. Two-year notes (US2YT=RR: Quote, Profile, Research) were steady at a yield of 2.47 percent.
e da futuresource...
DJ Debt Futures Review: Life-Of-Contract High Set In Bonds
By Allen Sykora
BEND, Ore. (Dow Jones)--Dec Treasury bond futures in Chicago surged to
life-of-contract highs Wednesday.
The middle to long end of the curve rose due to higher oil prices, weaker
equities and doubts about the strength of corporate earnings, analysts and
traders said.
There was short covering as well as more momentum-based buying as the
uptrend remained intact.
Dec Treasury bonds settled up 25 ticks at 113-26, while Dec 10-year notes
rose 9.5 ticks to 113-19 and Dec five-years were up 3.5 ticks to 111-08.5.
However, Dec two-years fell 0.2 tick to 105-26.5 and Mar Eurodollars lost a
single basis point to 97.555.
"We have continued short covering and continued buying," said Frank Lesh,
futures analyst in Chicago with Rand Financial Services, in reference to the
strength in the back end of the yield curve. "The longs are adding on to their
positions as the market moves up. The shorts are running for cover."
Dec Treasury bonds put in a fresh life-of-contract high of 114 even.
The strength in the bonds and 10-year notes does not appear to be related
to any fresh news, with no major reports released Wednesday, said Lesh.
"But we are supported by the rally in crude," he said. "The bond market
looks at the (rise in) crude and feels it's a tax or drag on the economy. So
that's supportive.
"And when you look at equity land, it's giving a lot back and is now
down for the year. People are happy to be in fixed-income, which is
outperforming equities this year. It's one of the best assets available right
now."
As the interest-rate futures pits were closing, the Dow industrials were
down by around 125 to 130 points. Their high for the day of 10,244.05 was
209.87 points below the closing 2003 low of 10,453.92. Meanwhile, Nov crude
oil climbed $1.59 to $48.35.
Some market participants appear to be of the view that maybe the Federal
Reserve will be done hiking rates for a while after Tuesday's 25-basis-point
increase, suggested Patrick Lafferty, Commodity Trading Advisor with Fox
Investments, a division of Man Financial. And those who had been short in
anticipation of rate hikes are being forced to cover, since the market has not
tumbled, he said.
Meanwhile, expectations for corporate earnings appear to be declining, he
said.
"There seems to be a general feeling earnings are going to be less than
what they have been or previously hoped for," he said. "Maybe that takes some
pressure off the Fed for additional rate increases ... If you take off the
pressure for higher rates, you free up the bonds to rally even further.
"The other thing is from a technical standpoint, the path of least
resistance is still up. The market is in a very well established uptrend and
has been now since June."
The fact that the bond market closed with a gain on Tuesday, despite a
Fed rate hike, shows that the momentum remains strong, he said.
"Every chance, it has had to break down, it has pretty much avoided it."
The gains occurred in the belly to the back end of the yield curve, with
Lesh saying that some market participants have been unwinding previous
trades in which they had gone long in the front end of the curve and short in
the back end.
"But there isn't that much today," he added. "This is what had been
happening."
Another factor helping the longer end, Lesh continued, is the speculation
that at some point, mortgage-related accounts will be forced to buy as yields
keep falling. The yield on cash 10-year notes, which moves inversely to the
price, Wednesday fell as far as 3.978%, its lowest level since April 2.
Some speculators might be starting to buy in anticipation that mortgage-
related buying will occur.
"It's like they are trying to push the market to levels to find out
where these mortgage guys are going to come in," added Lesh.
"Also, the technicals are strong. They are telling you to get long and
see where we are going with this."
The market gets two economic reports on Thursday. They include:
-- initial weekly jobless claims at 0730 CT (1230 GMT), forecast to be
around 341,000, which would be up from 333,000 the previous week; and
-- Leading Economic Indicators at 0900 CT (1400 GMT), expected to fall
0.2% in August.
Later, at 1300 CT (1800 GMT), the Federal Reserve is scheduled to release
the minutes of the Aug. 10 meeting of the Federal Open Market Committee.
-By Allen Sykora; Dow Jones Newswires; 541-318-8765;
[email protected]
(END) Dow Jones Newswires
Wed Sep 22, 2004 03:24 PM ET
(Updates prices, adds comments; changes dateline; previous NEW YORK)
By Ros Krasny
CHICAGO, Sept 22 (Reuters) - U.S. Treasury prices rallied on Wednesday in response to rising oil prices, weak equities and lower inflation prospects.
Longer-dated issues led the way. Yields on the benchmark 10-year note (US10YT=RR: Quote, Profile, Research) , which move inversely to prices, dropped below 4.0 percent for the first time in five months.
Sliding U.S. stock prices boosted Treasuries on a day when some strategists had expected the opposite.
The blue chip Dow Jones industrial average fell 1.4 percent to its lowest in several weeks, and technology stocks suffered bigger losses.
Buying was also generated as NYMEX crude oil futures (CLc1: Quote, Profile, Research) surged above $48.50 per barrel to within sight of record highs. The latest oil price spike suggested gas prices at the pump could climb again after a few weeks' respite.
High energy prices act like a tax on consumers, cutting into disposable income, and could crimp hiring and capital investment if business confidence is bruised.
"Investors are wondering: Is the rise in oil prices going to curtail consumer spending? Is it going to hold businessmen back from hiring?" said Josh Stiles, senior bond strategist at IDEAglobal.
Sluggish sales at major chain stores recently have been blamed partly on high gasoline prices, and demand for big-ticket items such as auto has also suffered.
General Motors, the largest U.S. automaker, will hold a three-day sale with interest-free loans of up to six years to clear bulging inventories. "This suggests the soft patch is not over yet," said David Sloan, senior economist at 4CAST Ltd.
A report on August durable goods orders on Friday will give a reading on how the economy is faring after a wobbly summer. Wall Street forecasts orders to be flat compared with July.
Initial strength in bonds followed the Federal Reserve's comment after its policy meeting on Tuesday that inflation expectations "have eased in recent months."
The comment was taken by dealers as a license to buy, even with bond prices already high.
"The inflation premium is being taken out of longer-dated securities," said James Caron, Merrill Lynch Government Securities fixed-income strategist.
Gains were exaggerated by short-covering from firms caught flat-footed by recent strength.
"Large speculators were clearly wrong on the Treasury market, as the recent rally and the massive short-covering bout shows," said Tony Crescenzi, chief bond market strategist at Miller Tabak & Co.
Falling inflation prospects and the recent string of Fed rate hikes have helped narrow the spread between 10-year and two-year note yields to 153 basis points, a three-year low.
Speculators also bought on ideas that mortgage-related "convexity buying" could be triggered if the 10-year yield falls to 4.00 percent or 3.90 percent. Dealers have seen little of the anticipated mortgage sector buying so far.
Figures from the Mortgage Bankers Association on Wednesday showed new refinancing applications up for a third straight week, climbing 4.1 percent.
Brokers expect rapid mortgage prepayments if yields fall further. Adjustable-rate mortgages taken out earlier this year could be shifted to fixed-rate loans. The average 30-year mortgage rate is at the lowest since March.
The 10-year Treasury note rose 15/32 for a yield of 3.99 percent, down from 4.04 percent late Tuesday. Yields are at a major retracement point from the June 2003 low to the June 2004 high.
The 30-year bond (US30YT=RR: Quote, Profile, Research) was up 1-1/32, yielding 4.78 percent, down from 4.84 percent. Five-year notes (US5YT=RR: Quote, Profile, Research) were up 4/32 to yield 3.25 percent, against 3.28 percent. Two-year notes (US2YT=RR: Quote, Profile, Research) were steady at a yield of 2.47 percent.
e da futuresource...
DJ Debt Futures Review: Life-Of-Contract High Set In Bonds
By Allen Sykora
BEND, Ore. (Dow Jones)--Dec Treasury bond futures in Chicago surged to
life-of-contract highs Wednesday.
The middle to long end of the curve rose due to higher oil prices, weaker
equities and doubts about the strength of corporate earnings, analysts and
traders said.
There was short covering as well as more momentum-based buying as the
uptrend remained intact.
Dec Treasury bonds settled up 25 ticks at 113-26, while Dec 10-year notes
rose 9.5 ticks to 113-19 and Dec five-years were up 3.5 ticks to 111-08.5.
However, Dec two-years fell 0.2 tick to 105-26.5 and Mar Eurodollars lost a
single basis point to 97.555.
"We have continued short covering and continued buying," said Frank Lesh,
futures analyst in Chicago with Rand Financial Services, in reference to the
strength in the back end of the yield curve. "The longs are adding on to their
positions as the market moves up. The shorts are running for cover."
Dec Treasury bonds put in a fresh life-of-contract high of 114 even.
The strength in the bonds and 10-year notes does not appear to be related
to any fresh news, with no major reports released Wednesday, said Lesh.
"But we are supported by the rally in crude," he said. "The bond market
looks at the (rise in) crude and feels it's a tax or drag on the economy. So
that's supportive.
"And when you look at equity land, it's giving a lot back and is now
down for the year. People are happy to be in fixed-income, which is
outperforming equities this year. It's one of the best assets available right
now."
As the interest-rate futures pits were closing, the Dow industrials were
down by around 125 to 130 points. Their high for the day of 10,244.05 was
209.87 points below the closing 2003 low of 10,453.92. Meanwhile, Nov crude
oil climbed $1.59 to $48.35.
Some market participants appear to be of the view that maybe the Federal
Reserve will be done hiking rates for a while after Tuesday's 25-basis-point
increase, suggested Patrick Lafferty, Commodity Trading Advisor with Fox
Investments, a division of Man Financial. And those who had been short in
anticipation of rate hikes are being forced to cover, since the market has not
tumbled, he said.
Meanwhile, expectations for corporate earnings appear to be declining, he
said.
"There seems to be a general feeling earnings are going to be less than
what they have been or previously hoped for," he said. "Maybe that takes some
pressure off the Fed for additional rate increases ... If you take off the
pressure for higher rates, you free up the bonds to rally even further.
"The other thing is from a technical standpoint, the path of least
resistance is still up. The market is in a very well established uptrend and
has been now since June."
The fact that the bond market closed with a gain on Tuesday, despite a
Fed rate hike, shows that the momentum remains strong, he said.
"Every chance, it has had to break down, it has pretty much avoided it."
The gains occurred in the belly to the back end of the yield curve, with
Lesh saying that some market participants have been unwinding previous
trades in which they had gone long in the front end of the curve and short in
the back end.
"But there isn't that much today," he added. "This is what had been
happening."
Another factor helping the longer end, Lesh continued, is the speculation
that at some point, mortgage-related accounts will be forced to buy as yields
keep falling. The yield on cash 10-year notes, which moves inversely to the
price, Wednesday fell as far as 3.978%, its lowest level since April 2.
Some speculators might be starting to buy in anticipation that mortgage-
related buying will occur.
"It's like they are trying to push the market to levels to find out
where these mortgage guys are going to come in," added Lesh.
"Also, the technicals are strong. They are telling you to get long and
see where we are going with this."
The market gets two economic reports on Thursday. They include:
-- initial weekly jobless claims at 0730 CT (1230 GMT), forecast to be
around 341,000, which would be up from 333,000 the previous week; and
-- Leading Economic Indicators at 0900 CT (1400 GMT), expected to fall
0.2% in August.
Later, at 1300 CT (1800 GMT), the Federal Reserve is scheduled to release
the minutes of the Aug. 10 meeting of the Federal Open Market Committee.
-By Allen Sykora; Dow Jones Newswires; 541-318-8765;
[email protected]
(END) Dow Jones Newswires
ditropan
Forumer storico
Buongiorno ...
vi ricordate dell'articolo postato 2 giorni fà ?
... bè ... ci ha beccato in pieno !!!!
situazione petrolio ..
come intermezzo ci metto pure il natural gas che mi piace tanto ...
(PETROLIO+GAS= grosso modo prezzi indice energetico)
situazione obblgazionario ...
situazione equity ...
... ora però non mi torna una cosa, se da un lato greenspan ha evidenziato un rallentamento dell'economia USA, questo può aver spinto l'acquisto in massa all'obbligazionario con storno sugli indici azionari e fin quì siamo tutti daccordo .... ma un rallentamento dell'economia implica minor consumo di petrolio, dunque che senso ha la candelaccia verde sul greggio ??
vi ricordate dell'articolo postato 2 giorni fà ?
... bè ... ci ha beccato in pieno !!!!
ditropan ha scritto:
situazione petrolio ..
come intermezzo ci metto pure il natural gas che mi piace tanto ...
(PETROLIO+GAS= grosso modo prezzi indice energetico)
situazione obblgazionario ...
situazione equity ...
... ora però non mi torna una cosa, se da un lato greenspan ha evidenziato un rallentamento dell'economia USA, questo può aver spinto l'acquisto in massa all'obbligazionario con storno sugli indici azionari e fin quì siamo tutti daccordo .... ma un rallentamento dell'economia implica minor consumo di petrolio, dunque che senso ha la candelaccia verde sul greggio ??
Buon giorno a tutti,io penso che in questo momento il Governatore abbia le idee piuttosto confuse,vede il rallentamento dell 'economia ed intanto rialza i tassi,magari nel breve e sotto il clamore delle elezioni americane questa manovra non produrrà alcunchè,ma fra qualche tempo potrebbe avere effetti devastanti.
Lo testimonia già l'andamento dei Bond, tassi crescenti e corsi crescenti non è di certo qualcosa di bello e rassicurante .
Ad majora
Lo testimonia già l'andamento dei Bond, tassi crescenti e corsi crescenti non è di certo qualcosa di bello e rassicurante .
Ad majora
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