Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
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tommy271
Forumer storico
Banks rates up in Sept.
(ANA-MPA) -- Greek banks’ deposit and lending interest rates continued moving higher in September despite an improvement in the country’s economic situation, prevailing before talk of early general elections emerged three weeks ago.
The Bank of Greece said that deposit and lending interest rates were up since the beginning of the year, reflecting conditions of limited liquidity and increased uncertainty in the market.
Only the five-year fixed mortgage rate fell to 3.96 pct in September, from 4.60 pct in early 2010.
(ana.gr)
(ANA-MPA) -- Greek banks’ deposit and lending interest rates continued moving higher in September despite an improvement in the country’s economic situation, prevailing before talk of early general elections emerged three weeks ago.
The Bank of Greece said that deposit and lending interest rates were up since the beginning of the year, reflecting conditions of limited liquidity and increased uncertainty in the market.
Only the five-year fixed mortgage rate fell to 3.96 pct in September, from 4.60 pct in early 2010.
(ana.gr)
tommy271
Forumer storico
Borsa Atene: Ase chiude a +1,2%, si allentano i timori
MILANO (MF-DJ)--L'indice Ase della Borsa di Atene termina le contrattazioni in rialzo dell'1,2% a quota 1526,9 punti. I volumi si attestano a 101,4 mln euro.
Il mercato greco riesco a risollevarsi sullo svanire dei timori di imminenti elezioni politiche nazionali, commenta Nick Koskoletos di Efg Eurobank Securities. "Un quadro piu' chiaro dell'andamento della Borsa di Atene emergera' dopo i dati sul deficit di Eurostat la prossima settimana", ha aggiunto l'esperto.
In territorio positivo Eurobank a +5,8%, Hellenic Telecoms a +4,2%, National a +3,5%, Alpha a +3,1% e Titan a +1,2%.
MILANO (MF-DJ)--L'indice Ase della Borsa di Atene termina le contrattazioni in rialzo dell'1,2% a quota 1526,9 punti. I volumi si attestano a 101,4 mln euro.
Il mercato greco riesco a risollevarsi sullo svanire dei timori di imminenti elezioni politiche nazionali, commenta Nick Koskoletos di Efg Eurobank Securities. "Un quadro piu' chiaro dell'andamento della Borsa di Atene emergera' dopo i dati sul deficit di Eurostat la prossima settimana", ha aggiunto l'esperto.
In territorio positivo Eurobank a +5,8%, Hellenic Telecoms a +4,2%, National a +3,5%, Alpha a +3,1% e Titan a +1,2%.
tommy271
Forumer storico
Merkel’s Coalition Backs Two-Step EU Debt Crisis Plan
November 08, 2010, 10:52 AM EST
By Brian Parkin
(Updates with Juncker comment in fifth paragraph.)
Nov. 8 (Bloomberg) -- German Chancellor Angela Merkel’s coalition backs proposals for a two-step crisis mechanism to make bondholders pay for any future euro-area crisis, the parliamentary finance spokesman for her party said.
“We cannot allow ourselves to be forced into any more fly- by-night actions and rescues made with taxpayers’ money,” Leo Dautzenberg, a Christian Democratic Union lawmaker, said in an e-mailed response to questions today. “Banks and other investors must be made to contribute in the event of a sovereign default.”
Dautzenberg said he “very much supports” plans by Finance Minister Wolfgang Schaeuble to extend the maturity period of government bonds for indebted states that are forced to apply austerity measures. If necessary, that would then be followed by a second step involving “a wholesale restructuring of all outstanding claims,” Dautzenberg said.
Merkel’s coalition, trailing the opposition in polls before state elections next year involving about 25 percent of Germans, is ramping up calls for investors to be held accountable to avert any repeat of the debt crisis that spread from Greece. That message clashes with European Central Bank President Jean- Claude Trichet, who says such talk risks exacerbating the situation for indebted euro-area nations such as Ireland and Greece as they struggle to reduce their budget deficits.
Listen ‘Carefully’
“France and Germany are saying the opposite of Mr. Trichet,” Luxembourg Prime Minister Jean-Claude Juncker, who heads the panel of euro-area finance ministers, told a European Parliament committee in Brussels today. “I would like us to listen to him carefully.” Otherwise, the euro area risks being isolated in declaring “ex ante that in every instance of crisis resolution the private sector has to be implicated.”
Schaeuble, who announced his two-tier plan in an interview with this week’s edition of Der Spiegel magazine, is working up the proposals in time for a Nov. 15-16 meeting in Brussels of European finance ministers, Finance Ministry spokesman Bertrand Benoit said today by phone.
Schaeuble wants contracts for euro-region bonds “to spell out in the future exactly what will happen to the demands of the investor in a crisis situation,” Spiegel cited him as saying. The International Monetary Fund should manage the process of applying the crisis mechanism, Schaeuble said.
The European Union is due to draft an outline of its permanent debt-crisis procedure by mid-December. The permanent crisis mechanism, which was agreed on in principle by EU leaders last month, will replace the 750 billion-euro ($1 billion) EU- IMF rescue fund set up in May once its mandate expires in 2013.
“There’s no way that we in Germany want an extension of the rescue fund or can sell that to the taxpayer,” Frank Schaeffler, a lawmaker with Merkel’s Free Democratic Party coalition partner, said by phone today. “I have serious fears that there is pressure in the euro region to do just that.”
(Bloomberg)
November 08, 2010, 10:52 AM EST
By Brian Parkin
(Updates with Juncker comment in fifth paragraph.)
Nov. 8 (Bloomberg) -- German Chancellor Angela Merkel’s coalition backs proposals for a two-step crisis mechanism to make bondholders pay for any future euro-area crisis, the parliamentary finance spokesman for her party said.
“We cannot allow ourselves to be forced into any more fly- by-night actions and rescues made with taxpayers’ money,” Leo Dautzenberg, a Christian Democratic Union lawmaker, said in an e-mailed response to questions today. “Banks and other investors must be made to contribute in the event of a sovereign default.”
Dautzenberg said he “very much supports” plans by Finance Minister Wolfgang Schaeuble to extend the maturity period of government bonds for indebted states that are forced to apply austerity measures. If necessary, that would then be followed by a second step involving “a wholesale restructuring of all outstanding claims,” Dautzenberg said.
Merkel’s coalition, trailing the opposition in polls before state elections next year involving about 25 percent of Germans, is ramping up calls for investors to be held accountable to avert any repeat of the debt crisis that spread from Greece. That message clashes with European Central Bank President Jean- Claude Trichet, who says such talk risks exacerbating the situation for indebted euro-area nations such as Ireland and Greece as they struggle to reduce their budget deficits.
Listen ‘Carefully’
“France and Germany are saying the opposite of Mr. Trichet,” Luxembourg Prime Minister Jean-Claude Juncker, who heads the panel of euro-area finance ministers, told a European Parliament committee in Brussels today. “I would like us to listen to him carefully.” Otherwise, the euro area risks being isolated in declaring “ex ante that in every instance of crisis resolution the private sector has to be implicated.”
Schaeuble, who announced his two-tier plan in an interview with this week’s edition of Der Spiegel magazine, is working up the proposals in time for a Nov. 15-16 meeting in Brussels of European finance ministers, Finance Ministry spokesman Bertrand Benoit said today by phone.
Schaeuble wants contracts for euro-region bonds “to spell out in the future exactly what will happen to the demands of the investor in a crisis situation,” Spiegel cited him as saying. The International Monetary Fund should manage the process of applying the crisis mechanism, Schaeuble said.
The European Union is due to draft an outline of its permanent debt-crisis procedure by mid-December. The permanent crisis mechanism, which was agreed on in principle by EU leaders last month, will replace the 750 billion-euro ($1 billion) EU- IMF rescue fund set up in May once its mandate expires in 2013.
“There’s no way that we in Germany want an extension of the rescue fund or can sell that to the taxpayer,” Frank Schaeffler, a lawmaker with Merkel’s Free Democratic Party coalition partner, said by phone today. “I have serious fears that there is pressure in the euro region to do just that.”
(Bloomberg)
bosmeld
Forumer storico
Benvenuto a bordo, ma ci lascerai presto ... osservando la tua operatività.
a mercato chiuso vi posso dire le mie posizioni in cui sono entrato:
20k 2019 a 71,5
7k 2026 a 63,05
20k 2018 a 64,51 di media, su questa presi un minicip qualche giorno fa.
qui mi fermo, non é niente di particolare. se si sale un po vedendo.
se va giú non incremento salvo eccezione.
ho poi il 2025, da un po di tempo in perdita, che mantengo stile pensione.
LUP1051
Guest
nessuno è posizionato sui lunghi,,,,,,22 - 24 - 37 ???
tommy271
Forumer storico
ECB Spools Up Bond-Buying Program Again
The Federal Reserve isn’t the only central bank cranking up its bond-buying machinery. Figures on Monday show that the European Central Bank revived its own controversial program of supporting struggling euro members last week as euro-zone fiscal concerns mounted, especially in Ireland.
The ECB bought EUR771 million of government debt of struggling euro-zone countries last week, having abstained from such emergency bond purchases for the three previous weeks. While the ECB doesn’t tell us whose countries’ bonds it’s buying, Ireland, Portugal and Greece are the most likely candidates. All three highly-indebted countries on Europe’s fringe have seen their bond yields – and borrowing costs – jump in recent days to unsustainably high levels. (To keep track of the euro-zone crisis, here’s a viewer’s guide for what’s ahead.)
It’s not good news that the ECB’s emergency program is whirring again. The central bank’s earlier refusal to buy so-called “peripheral” bonds amid rising jitters was a sign of confidence: ECB knob-twiddlers were probably trying to let Europe’s bond markets normalize. Now, the market’s waning confidence in the creditworthiness of Ireland and Portugal have forced policy makers’ hands.
At least one European policy maker, German central bank chief Axel Weber – a top candidate to replace ECB President Jean-Claude Trichet – has been very vocal about the ills of bond-buying, attacking the program as unnecessary and potentially ruinous for the ECB’s credibility. (He and Federal Reserve dissenter-in-chief KC Fed President Thomas Hoenig are simpatico on many issues.) While there’s little to suggest the ECB purchases are sparking fears of inflation – a big concern in Germany since the Weimar Republic’s painful bout of hyperinflation some 90 years ago – it can be argued that buying bonds entangles the ECB dangerously in the plight of the region’s most-vulnerable economies.
But investors should remember that the ECB’s latest purchases are still very small. Before this past week, the ECB last bought bonds in early October, picking up a paltry EUR9 million worth. A week before that, it bought EUR1.384 billion. These amounts are nothing like the EUR16 billion in bonds the ECB purchased in the first week of the program in May.
It’s also possible that any worried investors are mixing up cause and effect. In other words, Irish, Greek and Portuguese bond yields may be soaring in part because the ECB hasn’t been seen as buying bonds in the past few weeks. According to this view, the ECB has been letting Europe’s weaker bond markets bicycle on their own for a while. Only now has the ECB felt a need to step back in to lend a supporting hand.
For now, the soaring bond yields in Greek and Irish debt markets are also a somewhat academic concern. Greece, which fell into the rescuing arms of the European Union and the International Monetary Fund this spring, isn’t really raising long-term financing from capital markets anymore, so it’s not going to be paying, say, the current 11% rate implied by market prices. (Greece is, however, selling a six-month Treasury bill on Tuesday.) Similarly, to avoid paying exorbitantly high interest rates, Ireland, which sits on roughly EUR20 billion of liquid reserves, has said it will forego selling bonds until next year.
For the most part, the ECB’s bond-buying program is a P.R. exercise aimed at keeping any bond yield surges from rattling global investors. It’s possible investors should be more worried about the ECB’s unlimited provision of emergency funding to the banks of weak euro-zone countries. By propping up these banks, the ECB is stealthily holding up weak euro zone governments, too, since these banks are themselves major buyers of the country’s government bonds.
But don’t tell that to Portugal. This indebted country will be in the market on Wednesday trying to sell five-year and ten-year bonds to investors in the worst fund-raising environment in weeks. Portuguese officials are probably happy that the ECB has pulled out its knives to fight the crisis again.
ECB Spools Up Bond-Buying Program Again - MarketBeat - WSJ
The Federal Reserve isn’t the only central bank cranking up its bond-buying machinery. Figures on Monday show that the European Central Bank revived its own controversial program of supporting struggling euro members last week as euro-zone fiscal concerns mounted, especially in Ireland.
The ECB bought EUR771 million of government debt of struggling euro-zone countries last week, having abstained from such emergency bond purchases for the three previous weeks. While the ECB doesn’t tell us whose countries’ bonds it’s buying, Ireland, Portugal and Greece are the most likely candidates. All three highly-indebted countries on Europe’s fringe have seen their bond yields – and borrowing costs – jump in recent days to unsustainably high levels. (To keep track of the euro-zone crisis, here’s a viewer’s guide for what’s ahead.)
It’s not good news that the ECB’s emergency program is whirring again. The central bank’s earlier refusal to buy so-called “peripheral” bonds amid rising jitters was a sign of confidence: ECB knob-twiddlers were probably trying to let Europe’s bond markets normalize. Now, the market’s waning confidence in the creditworthiness of Ireland and Portugal have forced policy makers’ hands.
At least one European policy maker, German central bank chief Axel Weber – a top candidate to replace ECB President Jean-Claude Trichet – has been very vocal about the ills of bond-buying, attacking the program as unnecessary and potentially ruinous for the ECB’s credibility. (He and Federal Reserve dissenter-in-chief KC Fed President Thomas Hoenig are simpatico on many issues.) While there’s little to suggest the ECB purchases are sparking fears of inflation – a big concern in Germany since the Weimar Republic’s painful bout of hyperinflation some 90 years ago – it can be argued that buying bonds entangles the ECB dangerously in the plight of the region’s most-vulnerable economies.
But investors should remember that the ECB’s latest purchases are still very small. Before this past week, the ECB last bought bonds in early October, picking up a paltry EUR9 million worth. A week before that, it bought EUR1.384 billion. These amounts are nothing like the EUR16 billion in bonds the ECB purchased in the first week of the program in May.
It’s also possible that any worried investors are mixing up cause and effect. In other words, Irish, Greek and Portuguese bond yields may be soaring in part because the ECB hasn’t been seen as buying bonds in the past few weeks. According to this view, the ECB has been letting Europe’s weaker bond markets bicycle on their own for a while. Only now has the ECB felt a need to step back in to lend a supporting hand.
For now, the soaring bond yields in Greek and Irish debt markets are also a somewhat academic concern. Greece, which fell into the rescuing arms of the European Union and the International Monetary Fund this spring, isn’t really raising long-term financing from capital markets anymore, so it’s not going to be paying, say, the current 11% rate implied by market prices. (Greece is, however, selling a six-month Treasury bill on Tuesday.) Similarly, to avoid paying exorbitantly high interest rates, Ireland, which sits on roughly EUR20 billion of liquid reserves, has said it will forego selling bonds until next year.
For the most part, the ECB’s bond-buying program is a P.R. exercise aimed at keeping any bond yield surges from rattling global investors. It’s possible investors should be more worried about the ECB’s unlimited provision of emergency funding to the banks of weak euro-zone countries. By propping up these banks, the ECB is stealthily holding up weak euro zone governments, too, since these banks are themselves major buyers of the country’s government bonds.
But don’t tell that to Portugal. This indebted country will be in the market on Wednesday trying to sell five-year and ten-year bonds to investors in the worst fund-raising environment in weeks. Portuguese officials are probably happy that the ECB has pulled out its knives to fight the crisis again.
ECB Spools Up Bond-Buying Program Again - MarketBeat - WSJ
giutrader
Forumer attivo
lo spread sul bund tedesco si è ristretto dai massimi di venerdì a circa 900 bp. Il recupero pero' non si è manifestato sui prezzi e sui book dei tds greci (visti i volumi scarsi). Dobbiamo attendere altre sedute e magari proseguire cercando di ritornare quanto prima sotto gli 800 bp. Nel frattempo incrociamo le dita, e stringiamo le chiappe
tommy271
Forumer storico
EUROZONA: PROVE DI CROLLO PER DEBITO PUBBLICO DI PORTOGALLO E IRLANDA
(ASCA) - Roma, 8 nov - Mercato del debito pubblico dei paesi dell'Eurozona ancora lontano dalla normalita'. Sotto tiro Portogallo e Irlanda.
Lo spread di rendimento tra i titoli di stato decennali di Lisbona e quelli della Germania (i piu' sicuri nell'Eurozona) e' schizzato fino a 449 punti base (+30 rispetto alla chiusura di venerdi'), si tratta del massimo storico. ''Il mercato pens che il Portogallo possa fare la fine della Grecia'', commenta un trader.
Nel mese di ottobre, le banche lusitane hanno ricevuto dalla Bce presiti per 40 miliardi di euro (dati Banca del Portogallo), in calo rispetto al picco di 49 miliardi, ma l'importo rimane piuttosto elevatto, segno di un problema di accesso al mercato per i gruppi bancari portoghesi.
Problematica anche la situazione dell'Irlanda, alle prese con un deficit/pil salito oltre il 30% a causa dei salvataggi bancari. Ancora non sono noti i prestiti della Bce concessi alle banche irlandesi nel mese di ottobre, ma si dovrebbe viaggiare intorno a 120 miliardi di euro, una somma pari al totale dei prestiti concessi dalla Bce alle banche spagnole (75 miliardi) e portoghesi (40 miliardi). Oggi lo spread di rendimento tra titoli di stato decennali tedeschi e irlandesi e' salito a 557 punti, nuovo massimo storico.
Lo spread tra Germania e Grecia si e' invece ristretto a 899 punti dopo la vittoria elettorale della coalizione governativa uscente.
Nessuna scossa per l'Italia, lo spread tra il Btp e il Bund tedesco si e' allargato a 157 punti dai 152 di venerdi' scorso, la Spagna viaggia a 102 punti.
''Oggi molti spread si sono allargaati, compresi quelli di Austria e Belgio. Per ora il mercato snobba lo scenario della crisi di governo in Italia. Al momento la crisi politica non sembra intaccare la fiducia degli investitori nei Btp. O forse, il mercato non crede alla crisi'', spiega un operatore.
***
Una piccola visione d'insieme ...
(Spagna a 202 pb., un errore di battitura)
(ASCA) - Roma, 8 nov - Mercato del debito pubblico dei paesi dell'Eurozona ancora lontano dalla normalita'. Sotto tiro Portogallo e Irlanda.
Lo spread di rendimento tra i titoli di stato decennali di Lisbona e quelli della Germania (i piu' sicuri nell'Eurozona) e' schizzato fino a 449 punti base (+30 rispetto alla chiusura di venerdi'), si tratta del massimo storico. ''Il mercato pens che il Portogallo possa fare la fine della Grecia'', commenta un trader.
Nel mese di ottobre, le banche lusitane hanno ricevuto dalla Bce presiti per 40 miliardi di euro (dati Banca del Portogallo), in calo rispetto al picco di 49 miliardi, ma l'importo rimane piuttosto elevatto, segno di un problema di accesso al mercato per i gruppi bancari portoghesi.
Problematica anche la situazione dell'Irlanda, alle prese con un deficit/pil salito oltre il 30% a causa dei salvataggi bancari. Ancora non sono noti i prestiti della Bce concessi alle banche irlandesi nel mese di ottobre, ma si dovrebbe viaggiare intorno a 120 miliardi di euro, una somma pari al totale dei prestiti concessi dalla Bce alle banche spagnole (75 miliardi) e portoghesi (40 miliardi). Oggi lo spread di rendimento tra titoli di stato decennali tedeschi e irlandesi e' salito a 557 punti, nuovo massimo storico.
Lo spread tra Germania e Grecia si e' invece ristretto a 899 punti dopo la vittoria elettorale della coalizione governativa uscente.
Nessuna scossa per l'Italia, lo spread tra il Btp e il Bund tedesco si e' allargato a 157 punti dai 152 di venerdi' scorso, la Spagna viaggia a 102 punti.
''Oggi molti spread si sono allargaati, compresi quelli di Austria e Belgio. Per ora il mercato snobba lo scenario della crisi di governo in Italia. Al momento la crisi politica non sembra intaccare la fiducia degli investitori nei Btp. O forse, il mercato non crede alla crisi'', spiega un operatore.
***
Una piccola visione d'insieme ...
(Spagna a 202 pb., un errore di battitura)
- Stato
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