Bund, Tbond e la matrixiana allo yen vm18 (2 lettori)
- Creatore Discussione gipa69
- Data di Inizio
feliceanima
Forumer attivo
Gipa quando parli cosi a chi ti riferisci per piacere
"Si tra parentesi sembrerebbe quasi che vogliono far allargare"
"Si tra parentesi sembrerebbe quasi che vogliono far allargare"
Inshar
Forumer attivo
nulla, era solo una domandagipa69 ha scritto:cara Inshar
l'oil come detto in precedente post sta entrando in una stagionalità non particolarmente positiva per cui in questo periodo dell'anno tende ad essere debole. I dati economici non sono stati particolarmente positivi e questo a contribuito ad una certa debolezza dell'oil.
I dati però delle imprese sono stati positivi ed i carry (basta vedere l'andamento dello yen)molto forti e questo ha permesso ai mercati di andare su anche con dati economici non particolarmente esaltanti.
E' mesi che scrivo di queste relazioni ed il fatto che tu abbia fatto notare l'elemento per così dire non perfettamente coerente della mia analisi è abbastanza fastidioso.
Cosa è che ti infastidisce?
gipa69
collegio dei patafisici
AP
BNP Paribas Freezes 3 Securities Funds
Thursday August 9, 7:24 am ET
BNP Paribas Freezes 3 Asset-Backed Securities Funds Amid Subprime Market Problems
PARIS (AP) -- BNP Paribas SA, France's largest bank by market value, announced Thursday that one of its units was suspending three of its asset-backed securities funds, saying it could not value them accurately because of problems in the U.S. subprime mortgage market.
The announcement by BNP Paribas Investment Partners sent further shock waves through an already sensitive money market.
The bank said it was suspending three funds worth a total of euro2 billion ($2.75 billion): Parvest Dynamic ABS, BNP Paribas ABS Euribor and BNP Paribas ABS Eonia. All funds combined at BNP Paribas Investment Partners are worth more than euro350 billion ($482.79 billion).
"The complete evaporation of liquidity in certain market segments of the U.S. securitization market has made it impossible to value certain assets fairly regardless of their quality or credit rating," BNP Paribas said in a statement.
"The situation is such that it is no longer possible to value fairly the underlying U.S. ABS assets in the three above-mentioned funds" and "therefore unable to calculate a reliable net asset value, NAV, for the funds," the company said.
Defaults on subprime loans, or those made to people with poor credit, have climbed sharply in recent months and have triggered concern about the impact on credit markets worldwide. BNP's announcement sent European stock markets lower and stirred concerns that problems among subprime borrowers would further roil markets.
"Who knows where the subprime story is going to pop up again," said Adam Cole of RBC Capital Markets.
BNP Paribas shares dropped 3 percent to euro82.81 ($114.23) Thursday in an overall weaker Paris market.
When the bank posted second-quarter results last week, Chief Executive Baudouin Prot said it would be virtually untouched by the plummeting valuation of some subprime mortgage portfolios in the U.S. because it has little exposure to that market.
BNP's actions come amid a panic period and the prices of assets remain volatile, said Celent analyst Cubillas Ding.
"Securitized assets that have underpinnings in the U.S. subprime market may now be difficult to put a price tag on given market sentiment -- as there is still lingering uncertainty whether the meltdown has greater knock-on effects down the line," he said.
But he also warned against following a "herd mentality."
Germany's financial watchdog, BaFin, said Thursday it has yet to see any firm reason to examine the extent of that nation's banks' exposure to the U.S. subprime market.
This week WestLB Mellon Asset Management, the asset management joint venture of German state bank WestLB AG and The Bank of New York Mellon Corp., suspended redemptions from its asset-backed securities ABS Fund, which is part of the West LB Mellon Compass Fund.
WestLB AG denied speculation on Thursday that it is facing a fund liquidity problem.
Other companies, including Union Investment Asset Management, a German mutual fund manager, and Frankfurt Trust, a unit of BHF-Bank, have also halted redemptions.
BNP Paribas Freezes 3 Securities Funds
Thursday August 9, 7:24 am ET
BNP Paribas Freezes 3 Asset-Backed Securities Funds Amid Subprime Market Problems
PARIS (AP) -- BNP Paribas SA, France's largest bank by market value, announced Thursday that one of its units was suspending three of its asset-backed securities funds, saying it could not value them accurately because of problems in the U.S. subprime mortgage market.
The announcement by BNP Paribas Investment Partners sent further shock waves through an already sensitive money market.
The bank said it was suspending three funds worth a total of euro2 billion ($2.75 billion): Parvest Dynamic ABS, BNP Paribas ABS Euribor and BNP Paribas ABS Eonia. All funds combined at BNP Paribas Investment Partners are worth more than euro350 billion ($482.79 billion).
"The complete evaporation of liquidity in certain market segments of the U.S. securitization market has made it impossible to value certain assets fairly regardless of their quality or credit rating," BNP Paribas said in a statement.
"The situation is such that it is no longer possible to value fairly the underlying U.S. ABS assets in the three above-mentioned funds" and "therefore unable to calculate a reliable net asset value, NAV, for the funds," the company said.
Defaults on subprime loans, or those made to people with poor credit, have climbed sharply in recent months and have triggered concern about the impact on credit markets worldwide. BNP's announcement sent European stock markets lower and stirred concerns that problems among subprime borrowers would further roil markets.
"Who knows where the subprime story is going to pop up again," said Adam Cole of RBC Capital Markets.
BNP Paribas shares dropped 3 percent to euro82.81 ($114.23) Thursday in an overall weaker Paris market.
When the bank posted second-quarter results last week, Chief Executive Baudouin Prot said it would be virtually untouched by the plummeting valuation of some subprime mortgage portfolios in the U.S. because it has little exposure to that market.
BNP's actions come amid a panic period and the prices of assets remain volatile, said Celent analyst Cubillas Ding.
"Securitized assets that have underpinnings in the U.S. subprime market may now be difficult to put a price tag on given market sentiment -- as there is still lingering uncertainty whether the meltdown has greater knock-on effects down the line," he said.
But he also warned against following a "herd mentality."
Germany's financial watchdog, BaFin, said Thursday it has yet to see any firm reason to examine the extent of that nation's banks' exposure to the U.S. subprime market.
This week WestLB Mellon Asset Management, the asset management joint venture of German state bank WestLB AG and The Bank of New York Mellon Corp., suspended redemptions from its asset-backed securities ABS Fund, which is part of the West LB Mellon Compass Fund.
WestLB AG denied speculation on Thursday that it is facing a fund liquidity problem.
Other companies, including Union Investment Asset Management, a German mutual fund manager, and Frankfurt Trust, a unit of BHF-Bank, have also halted redemptions.
gipa69
collegio dei patafisici
SOME VERY LARGE FUNDS ARE IN THE PROCESS OF DE-LEVERAGING/LIQUIDATING (EITHER FORCIBLY OR VOLUNTARILY), THE NAMES OF WHICH WILL BECOME APPARENT TO ALL SHORTLY. This means that they are having to buy-in their shorts presumably a combination of expected under-performers, most likely from the realm of the shitty, the overvalued, the large cap & cap-weighted ETFs or all the preceding, and sell/puke those generally smaller-cap alpha-generating things that are "cheaper" or exhibit characterstics of value that are likely to yield positive relative return in the future, AND THEY ARE SELLING THEM WITHOUT RESPECT TO PRICE OR VALUE BECAUSE THEY HAVE TO, either because investors have asked for their money back, or to meet margin calls elsewhere, or because their lenders have pulled their lines, and so on.
Make no mistake: This is a liquidation event, and it is of a magnitude much larger than seen in 04, 05, 06, or early 2007, and rapidly approaching that of 2002. While GS/Mark Carhart's $10 bn Alpha fund was down 8% in late July, IT IS LIKELY THAT THE LOSSES FOR HIS AND SIMILAR FUNDS IN AUG TO DATE WILL STAGGERING BY COMPARISON.
Make no mistake: This is a liquidation event, and it is of a magnitude much larger than seen in 04, 05, 06, or early 2007, and rapidly approaching that of 2002. While GS/Mark Carhart's $10 bn Alpha fund was down 8% in late July, IT IS LIKELY THAT THE LOSSES FOR HIS AND SIMILAR FUNDS IN AUG TO DATE WILL STAGGERING BY COMPARISON.
Fleursdumal
फूल की बुराई
Bonjour a tout les bondaroles
pazzesco come stanno rivoltando verde e rosso
MUTUI:CRISI SUBPRIME,MAGGIORE INTERVENTO BCE DOPO 2001
(ANSA) - ROMA, 9 AGO - L'immissione di liquidità fatta oggi
dalla Bce è la più grande che abbia mai effettuato in una
singola operazione. Alle banche dell'eurosistema che temono una
rarefazione della liquidità per un allargamento della crisi dei
mutui subprime sono stati concessi 94,841 miliardi di euro, una
mole di liquidità seconda solo a quella immessa sui mercati
subito dopo l'attacco terroristico alle Twin Towers dell'11
settembre 2001: in due operazioni, il 12 e 13 settembre, allora
la Bce fornì liquidità per 69 e 40 miliardi. In totale 109
miliardi di euro.
FED: 12 MLD DLR PRONTI TERMINE, OVERNIGHT SOPRA TASSO BASE
(ANSA) - ROMA, 9 AGO - La Federal Reserve ha effettuato un'
operazione di rifinanziamento pronti contro termine di durata 14
giorni, con un' iniezione di liquidità per 12,0 miliardi di
dollari. I Fed Funds, il tasso overnight, ha aperto al 5,5%, 25
punti sopra il tasso-base.
pazzesco come stanno rivoltando verde e rosso
MUTUI:CRISI SUBPRIME,MAGGIORE INTERVENTO BCE DOPO 2001
(ANSA) - ROMA, 9 AGO - L'immissione di liquidità fatta oggi
dalla Bce è la più grande che abbia mai effettuato in una
singola operazione. Alle banche dell'eurosistema che temono una
rarefazione della liquidità per un allargamento della crisi dei
mutui subprime sono stati concessi 94,841 miliardi di euro, una
mole di liquidità seconda solo a quella immessa sui mercati
subito dopo l'attacco terroristico alle Twin Towers dell'11
settembre 2001: in due operazioni, il 12 e 13 settembre, allora
la Bce fornì liquidità per 69 e 40 miliardi. In totale 109
miliardi di euro.
FED: 12 MLD DLR PRONTI TERMINE, OVERNIGHT SOPRA TASSO BASE
(ANSA) - ROMA, 9 AGO - La Federal Reserve ha effettuato un'
operazione di rifinanziamento pronti contro termine di durata 14
giorni, con un' iniezione di liquidità per 12,0 miliardi di
dollari. I Fed Funds, il tasso overnight, ha aperto al 5,5%, 25
punti sopra il tasso-base.