Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (2 lettori)

[tommy271]

Europe Non-Core Default Insurance Costs Fall, Portugal Bonds Eyed



LONDON -(Dow Jones)- The cost of insuring non-core euro-zone sovereign debt against default using credit default swaps fell early Wednesday, ahead of a key auction of Portuguese bonds.
Portugal's five-year sovereign CDS were 15 basis points lower at 512/532 basis points, according to one trader. Greek and Irish sovereign CDS were also both 15 basis points lower at 995/1015 and 640/660 basis points, respectively.
Euro-zone central banks have bought sovereign bonds from all three countries this week.
Spain's five-year sovereign CDS were six basis points lower at 340/350, Italy was seven lower at 234/242, and Belgium three lower at around 245, the trader said.
CDS function like a default insurance contract for debt. If a borrower defaults, sellers compensate buyers. A basis point drop in five-year CDS equates to a $1,000 decline in the annual cost of protecting $10 million of debt for five years.
Portugal, which many observers expect to need external support of the same kind received by Ireland and Greece last year, will auction between EUR750 million and EUR1.25 billion of bonds maturing in 2014 and 2020 later Wednesday.

***
Spread sul decennale intorno a 895 pb.

 

[tommy271]

I TITOLI DEI GIORNALI:

Economic issues and a WikiLeaks publication of classified cables from the US embassy in Greece mostly dominated the front pages in Athens' dailies on Wednesday.



ADESMEFTOS TYPOS: "Dora (independent MP Bakoyannis, former ND minister and leader of the new Democratic Alliance party) calls for parliamentary fact-finding commission on overpricing of medical examinations, materials and medicines in state hospitals".

AVGHI: "They're putting private concerns in the buses -Bill on public transport to be presented to Cabinet today, limiting existing routes and making way for private exploitation of routes in wider Athens area, with increase in ticket prices as bonus".

AVRIANI: " 'Deep throat' fingers politicians with secret accounts in banks abroad and property assets in names of 'surrogates'."

ELEFTHEROS TYPOS: "Chryssohoidis a 'deep throat' for the Americans - US has full knowledge of condition in Greek police, services of strategic importance to our country's security, and their structure and mode of operation".

ELEFTHEROTYPIA: "When the minister was a stool pigeon for the US - Citizens' Protection minister Michalis Chryssohoidis' meeting with (then) US ambassador Daniel Speckhard on January 22, 2010, ended with a blatant bashing of the Greek secret service and a 'yes' to setting up a joint Greek-American counter-terrorism task force".

ESTIA: "Society rejects the changes".

ETHNOS: "Shock recommendation for 50 percent reduction of number of university entrants".

IMERISSIA: "Eurobond on the horizon - Flurry in the EU for the crucial step".

KATHIMERINI: "Radical restructuring of the National Health System (ESY)".

LOGOS: "Need to fortify the financially weaker strata".

NAFTEMPORIKI: "Plans for permanent solution to the eurozone debt".

NIKI: "Debt restructuring on the threshold".

RIZOSPASTIS: "Strikers in public transport being sent to court".

TA NEA: "WikiLeaks - The confidential documents of the US embassy".

VRADYNI: "Government's plan for immediate payment of 'temporary pension' until issue of regular pension, the waiting time for which reaches up to three years, is trickery".

(ana.gr)

 

[tommy271]

Relief for year’s first debt sale

Yield on treasury bills increases marginally but less than expected, demand eases; focus shifts to Portugal

By Stelios Bouras - Kathimerini English Edition


Greece’s first short-term debt sale of the year cost the government a bit less than expected yesterday but met with weakening demand amid growing concerns about the eurozone debt crisis.

The Public Debt Management Agency said yesterday it auctioned 1.95 billion euros of 26-week treasury bills at a rate of 4.9 percent, versus 4.82 percent during the previous auction held in early November. Traders were expecting the yield to come in at about 5.0 to 5.25 percent.

Apart from falling short of expectations, the 4.9 percent yield is seen as important by market experts as it is lower than the 5 percent rate at which Greece borrows from the European Commission and the International Monetary Fund.

Bids for the debt covered the total amount 3.4 times, down from 5.2 times previously when 300 million euros of T-bills were sold. About 37 percent of the total amount sold yesterday went to foreign portfolios.

The news comes at a time when speculation is growing that Portugal will follow Greece and Ireland in seeking a bailout in order to avoid default. Portugal is set to auction 5- and 10-year bonds today ahead of further debt sales by Spain tomorrow, testing investor appetite for eurozone periphery states. Italy had no problem selling 7 billion euros of 12-month bonds yesterday, though yields rose modestly.

Athens plans to issue 13-week treasury bills next week despite having its debt servicing needs covered by the 110-billion-euro EU-IMF package agreed to last year.

The Finance Ministry says this helps it keep in touch with the market as it plans to start issuing bonds later this year.

Johannes Jooste, a portfolio strategist for Merrill Lynch Wealth Management, said yesterday that this will depend on how investors greet the sale of T-bills in the first few months of the year.
“If early [short-term] debt auctions go well, then the prognosis for 2011 is that it will go reasonably well,” Jooste told reporters.

 

[Gaudente]

IMM Buy MOT GREECE 18 4.6 EUR 30000 63 12/01/11 09:43:46 0 0,00
-

sentite condoglianze

 

[tommy271]

Anche la Borsa di Atene si sta riprendendo dopo la debacle dei giorni scorsi.
Poco fa ha recuperato quota 1400 segnando un + 2,75.

Spread/Bund intorno a 893 pb, in fase di restringimento.
Senza registrare i numeri di ieri ...
Attendiamo l'asta in Portogallo per trovare ulteriori spunti.

 

[Gaudente]

ESEG Buy MOT HELLENIC 19 6.5 EUR 20000 69,55 12/01/11 09:36:49 20000 69,5

di nuovo condoglianze

 

[tommy271]

Rehn, Fondo salva-Stati va rafforzato


Intervento del commissario Ue sulle pagine del Financial Times



(ANSA) - BRUXELLES 12 GEN - 'Rafforzare la capacita' di prestito' del Fondo salva-Stati, nato per soccorrere i Paesi della zona euro in difficolta' a causa della crisi dei debiti sovrani, e 'ampliare il suo raggio di azione'. A chiederlo per la prima volta e' il commissario Ue agli affari economici e monetari, Olli Rehn, in un suo intervento sul Financial Times. Finora la Commissione Ue aveva smentito le voci su un possibile aumento delle risorse dell'European financial stability facility, attualmente dotato di 440 mld.

 

[buttozzo]

tommy ormai hanno capito anche se molto in ritardo che devono prendere decisini forti e risolutive a lungo tempo se no siamo sempre punto e accapo ciao

 

[tommy271]

tommy ormai hanno capito anche se molto in ritardo che devono prendere decisini forti e risolutive a lungo tempo se no siamo sempre punto e accapo ciao

Speriamo.

Oggi il rally che ieri hanno fatto i bond, lo sta facendo l'indice ASE alla Borsa di Atene: ora a quota 1412 con + 3,14.
I nostri spread sono intorno a 892 pb.

La correlazione è molto stretta.

 

[AAAA47]

EFSF, attesa emissione prossima settimana da 3-5 mld -IFR

LONDRA, 12 gennaio (IFR) - Il mercato attende un'emissione
per l'European Financial Stability Facility (Efsf) da 3-5
miliardi di euro con scadenza a 3-5 anni, la prossima settimana,
secondo gli ultimi rumours.
La recente emissione da 5miliardi, con scadenza 2015 (per lo
European Financial Stability Mechanism) quota sugli schermi +3
sul mid-swaps dal +12 del collocamento, che ha avuto richieste
ben superiori all'offerta.
La scorsa settimana è stato scambiato a -1.