METHOS
Forumer storico
Molto interessante. Situazione davvero ingarbugliata.
Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
- Creatore Discussione Imark
- Data di Inizio
- Stato
Molto interessante. Situazione davvero ingarbugliata.
tommy271
Forumer storico
Ovviamente il FMI vuole "spolpare" la Grecia.
Ma a questi prezzi sarebbe una svendita.
Il nodo rimane la "Golden Share", vedremo come andrà a finire ...
tommy271
Forumer storico
Greek Finance Minister Says Debt Restructure ‘Huge Mistake’
By Maria Petrakis and Natalie Weeks - May 3, 2011 9:59 AM GMT+0200 Tue May 03 07:59:04 GMT 2011
Finance Minister George Papaconstantinou said a restructuring of Greece’s debt, causing losses for bondholders, would lock the country out of markets for a decade or more.
“A restructuring, a debt haircut, would be a huge mistake for the country,” Papaconstantinou said in an interview on state-run NET TV today. “It would have a tremendous cost, with no benefit. Greece would be out of markets for 10, 15 years.”
Greece, which received a 110 billion-euro ($163 billion) bailout last year, can rely on emergency loans from the euro area and the International Monetary Fund as well as Treasury- bill sales to meet its funding needs through 2011. Under the aid plan, Greece is supposed to regain market access next year and refinance at least three-quarters of its maturing medium- and long-term debt. Greece’s 10-year bond yield was at 15.5 percent as of 8:44 a.m. in London.
In March, euro-area leaders decided to let the European Financial Stability Facility purchase bonds directly from governments in an aid program. The plan to let the EFSF buy debt from governments depends on Greece sticking to the program to reduce its deficits, Papaconstantinou said.
“We must do what we said we would and what we should be doing anyway,” he said. He reiterated that any future decision by the EU and the IMF to further extend the repayment period of the bailout loans would be welcome.
Funding Needs
Greece’s financing needs for 2011 total 58 billion euros and are fully covered by the bailout and bill sales, the Finance Ministry said on March 13. In 2012, borrowing needs total 66 billion euros, with 24 billion euros to come from the aid package, 2 billion euros from state-asset sales and 13 billion euros from bill sales. That leaves 27 billion euros in funding that must be covered by investors or the Luxembourg-based EFSF.
Greece’s deficit reached a euro-area record of 15.4 percent of gross domestic product in 2009. It dropped to 10.5 percent of GDP last year and is targeted to fall to 7.4 percent this year and to within the European Union’s 3 percent limit in 2014.
Greece’s economy, in its third year of a recession, is forecast by the government to shrink 3 percent this year before returning to growth in 2012. The country’s debt is projected to peak at 159 percent of GDP in 2012.
(Bloomberg)
By Maria Petrakis and Natalie Weeks - May 3, 2011 9:59 AM GMT+0200 Tue May 03 07:59:04 GMT 2011
Finance Minister George Papaconstantinou said a restructuring of Greece’s debt, causing losses for bondholders, would lock the country out of markets for a decade or more.
“A restructuring, a debt haircut, would be a huge mistake for the country,” Papaconstantinou said in an interview on state-run NET TV today. “It would have a tremendous cost, with no benefit. Greece would be out of markets for 10, 15 years.”
Greece, which received a 110 billion-euro ($163 billion) bailout last year, can rely on emergency loans from the euro area and the International Monetary Fund as well as Treasury- bill sales to meet its funding needs through 2011. Under the aid plan, Greece is supposed to regain market access next year and refinance at least three-quarters of its maturing medium- and long-term debt. Greece’s 10-year bond yield was at 15.5 percent as of 8:44 a.m. in London.
In March, euro-area leaders decided to let the European Financial Stability Facility purchase bonds directly from governments in an aid program. The plan to let the EFSF buy debt from governments depends on Greece sticking to the program to reduce its deficits, Papaconstantinou said.
“We must do what we said we would and what we should be doing anyway,” he said. He reiterated that any future decision by the EU and the IMF to further extend the repayment period of the bailout loans would be welcome.
Funding Needs
Greece’s financing needs for 2011 total 58 billion euros and are fully covered by the bailout and bill sales, the Finance Ministry said on March 13. In 2012, borrowing needs total 66 billion euros, with 24 billion euros to come from the aid package, 2 billion euros from state-asset sales and 13 billion euros from bill sales. That leaves 27 billion euros in funding that must be covered by investors or the Luxembourg-based EFSF.
Greece’s deficit reached a euro-area record of 15.4 percent of gross domestic product in 2009. It dropped to 10.5 percent of GDP last year and is targeted to fall to 7.4 percent this year and to within the European Union’s 3 percent limit in 2014.
Greece’s economy, in its third year of a recession, is forecast by the government to shrink 3 percent this year before returning to growth in 2012. The country’s debt is projected to peak at 159 percent of GDP in 2012.
(Bloomberg)
Ultima modifica:
tommy271
Forumer storico
PPC Completes 1st Phase Of RES Partner Selection
Public Power Corporation announced on Monday the completion of the invitation for expression of interest procedure for the selection of a long-term strategic partner in the Renewable Energy Sources field, in order to jointly develop with PPC Group a project involving the construction and operation of a photovoltaic park with a total capacity of 200MW in the area of Kozani, as well as the construction and operation of a plant for solar panels.
The procedure was completed on Friday, April 29 with the submission of 21 proposals.
After the evaluation of the submitted proposals, the companies that meet the acceptance criteria of the 1st phase will be invited to participate in the 2nd phase of the Tender.
Companies that submitted expression of interest
1. Lanco Solar International Ltd (India)
2. Joint Venture Macedonian Photovoltaic: Ellaktor S.A., ΤΕRΝΑ Energy S.A., INTRAKAT, DAMCO Energy S.A., International Constructional S.A. (Greece)
3. Toshiba Corporation – Mitsubishi Corporation (Japan)
4. Siemens AG - Siemens A.E. (Germany)
5. China North Industries Corp. (NORINCO) - ATESE S.A. (China - Greece)
6. Elecnor S.A. (Spain)
7. Yingli Green Energy Holding Co. (“Yingli Solar”) (China)
8. Q-Cells SE – REC – Schneider Electric (Germany - Norway)
9. SunEdison Hellas Solar Energy S.A. (parent company: USA)
10. SPWR Solar Energeiaki Hellas (100% subsidiary of SunPower Corp.) – METKA S.A. (USA –Greece)
11. Joint Venture ESSE s.rl.: Enel Green Power Spa - Sharp Corporation – Sharp Electronics (Italia) Spa (Italy Japan)
12. EDF Energies Nouvelles (France)
13. Hanergy Holding Group Ltd (in cooperation with 5K Enterprises S.A.) (China)
14. Shanghai Aerospace Automobile Electromechanical Co. Ltd (China)
15. AES Solar Energy Limited (USA)
16. Enolia Energy S.A. – ITOCHU Corporation – Abeinsa Ingeniera y Construccion S.A. – Solar Cells Energy Generation Alternative Systems S.A. – Yingli Green Energy Holding Co. Ltd (Greece – Japan – Spain – China)
17. J&P AVAX S.A. – Sorgenia SpA – Würth Solar GmbH Co., KG (Greece - Italy – Germany)
18. Centrotherm Photovoltaics AG – Dongfang Electric International Corporation - DTS Hellas S.A. (Germany – China - Greece)
19. Sojitz Corporation – ISOLUX INGENIERIA S.A. (Japan - Spain)
20. CEEG Research Solar Institute Co. Ltd* (China)
21. GMG International Engineering & Equipment Co. Ltd – Positive Energy* (China - Greece)
(capital.gr)
Public Power Corporation announced on Monday the completion of the invitation for expression of interest procedure for the selection of a long-term strategic partner in the Renewable Energy Sources field, in order to jointly develop with PPC Group a project involving the construction and operation of a photovoltaic park with a total capacity of 200MW in the area of Kozani, as well as the construction and operation of a plant for solar panels.
The procedure was completed on Friday, April 29 with the submission of 21 proposals.
After the evaluation of the submitted proposals, the companies that meet the acceptance criteria of the 1st phase will be invited to participate in the 2nd phase of the Tender.
Companies that submitted expression of interest
1. Lanco Solar International Ltd (India)
2. Joint Venture Macedonian Photovoltaic: Ellaktor S.A., ΤΕRΝΑ Energy S.A., INTRAKAT, DAMCO Energy S.A., International Constructional S.A. (Greece)
3. Toshiba Corporation – Mitsubishi Corporation (Japan)
4. Siemens AG - Siemens A.E. (Germany)
5. China North Industries Corp. (NORINCO) - ATESE S.A. (China - Greece)
6. Elecnor S.A. (Spain)
7. Yingli Green Energy Holding Co. (“Yingli Solar”) (China)
8. Q-Cells SE – REC – Schneider Electric (Germany - Norway)
9. SunEdison Hellas Solar Energy S.A. (parent company: USA)
10. SPWR Solar Energeiaki Hellas (100% subsidiary of SunPower Corp.) – METKA S.A. (USA –Greece)
11. Joint Venture ESSE s.rl.: Enel Green Power Spa - Sharp Corporation – Sharp Electronics (Italia) Spa (Italy Japan)
12. EDF Energies Nouvelles (France)
13. Hanergy Holding Group Ltd (in cooperation with 5K Enterprises S.A.) (China)
14. Shanghai Aerospace Automobile Electromechanical Co. Ltd (China)
15. AES Solar Energy Limited (USA)
16. Enolia Energy S.A. – ITOCHU Corporation – Abeinsa Ingeniera y Construccion S.A. – Solar Cells Energy Generation Alternative Systems S.A. – Yingli Green Energy Holding Co. Ltd (Greece – Japan – Spain – China)
17. J&P AVAX S.A. – Sorgenia SpA – Würth Solar GmbH Co., KG (Greece - Italy – Germany)
18. Centrotherm Photovoltaics AG – Dongfang Electric International Corporation - DTS Hellas S.A. (Germany – China - Greece)
19. Sojitz Corporation – ISOLUX INGENIERIA S.A. (Japan - Spain)
20. CEEG Research Solar Institute Co. Ltd* (China)
21. GMG International Engineering & Equipment Co. Ltd – Positive Energy* (China - Greece)
(capital.gr)
Massimum
Forumer storico
Un pò di queste misure servirebbero come il pane in Italia
C'è quasi da sperare di dover essere costretti a chiedere aiuto, così finalmente si faranno delle riforme serie
tommy271
Forumer storico
Greek Stocks Fluctuate Close To Year Lows
Athens Exchange moves between profits and losses on Tuesday, with the market maintaining a wait-and-see stance ahead of discussions between Greek government and IMF/EU/ECB representatives.
The trading activity remains weak, while banking index also moves between gains and losses, despite early losses of 1.20%. ATEbank and MIG top FTSE20’s profits.
Kyprou Securities calls the Athens market fragile, as it “floats close to the year lows and the government does not appear very much convincing about its intentions to realise the necessary tighter fiscal policy that would gradually generate budget surplus.”
Sentiment remains largely unchanged, according to Eurobank Equities, which feels that in the absence of any market moving news flow, the market is likely to continue on the same trajectory today as well.
Similarly, Marfin Analysis state the absence of any substantial news flow, adding that the market will be trying to evaluate the new 3 year action for combating tax evasion, a session of similar characteristics should be awaited.
Pegasus Securities continues to be optimistic in terms of the market΄s short-term momentum, “anticipating that the GI will most probably close on higher grounds today, as ask side interest seems to have partially at least eased-off and buyers seem willing to undertake risk and increase their positions, a fact also demonstrated by the decrease of trading volume during negative sessions.”
Across, the board, the General Index is at 1,420.80 units, down 0.58%, with early losse of 0.78%. The turnover stands at just €27m, while a total amount of 49 share rise, 69 decline and 41 remain unchanged.
Banks post minor losses of 0.32, at 1,070.62 units. ATEbank rises by 2.27%, while Bank of Cyprus and Hellenic Postbank gain 1.23% and 0.71% respectively.
On the other hand, Alpha Bank, National Bank and Eurobank fall by 1.55%, 1.15% and 1.06% respectively, while Piraeus Bank declines by 0.92%.
(capital.gr)
Athens Exchange moves between profits and losses on Tuesday, with the market maintaining a wait-and-see stance ahead of discussions between Greek government and IMF/EU/ECB representatives.
The trading activity remains weak, while banking index also moves between gains and losses, despite early losses of 1.20%. ATEbank and MIG top FTSE20’s profits.
Kyprou Securities calls the Athens market fragile, as it “floats close to the year lows and the government does not appear very much convincing about its intentions to realise the necessary tighter fiscal policy that would gradually generate budget surplus.”
Sentiment remains largely unchanged, according to Eurobank Equities, which feels that in the absence of any market moving news flow, the market is likely to continue on the same trajectory today as well.
Similarly, Marfin Analysis state the absence of any substantial news flow, adding that the market will be trying to evaluate the new 3 year action for combating tax evasion, a session of similar characteristics should be awaited.
Pegasus Securities continues to be optimistic in terms of the market΄s short-term momentum, “anticipating that the GI will most probably close on higher grounds today, as ask side interest seems to have partially at least eased-off and buyers seem willing to undertake risk and increase their positions, a fact also demonstrated by the decrease of trading volume during negative sessions.”
Across, the board, the General Index is at 1,420.80 units, down 0.58%, with early losse of 0.78%. The turnover stands at just €27m, while a total amount of 49 share rise, 69 decline and 41 remain unchanged.
Banks post minor losses of 0.32, at 1,070.62 units. ATEbank rises by 2.27%, while Bank of Cyprus and Hellenic Postbank gain 1.23% and 0.71% respectively.
On the other hand, Alpha Bank, National Bank and Eurobank fall by 1.55%, 1.15% and 1.06% respectively, while Piraeus Bank declines by 0.92%.
(capital.gr)
tommy271
Forumer storico
Sull'operazione di buy-back da 2,5 MLD della scorsa settimana:
FT Alphaville More on Greek debt buybacks
FT Alphaville More on Greek debt buybacks
tommy271
Forumer storico
Pension Funds Face Actuarial Tests
Labour Ministry is in difficult position, as the arrival of troika representatives find it off schedule in its commitments regarding the new list of arduous and unhealthy occupations and the implementation of the reform of supplementary pension funds beyond the saving of €3.5b through the fighting against contribution evasion until 2015.
Under the revised Memorandum of Understanding, major twists are expected from January 1, 2012, with the obligation of funds to reduce pensions, if they are not actuarially sustainable.
Sources note that figures are not encouraging and there are sectors in supplementary funds, which do not pass the actuarial tests. A typical example is the funds of SOEs and banks. Some unionists say that Public Power Corp’s fund may run out of money by August, estimating that the pay off for those who are retiring within the year will be postponed.
Also for the supplementary fund of IKA, which includes the vast majority of private sector employees, the news from the actuarial study is not optimistic. The obligations of the fund by 2060 will cause to the increase of spending for pension by 0.7% of GDP.
Ministry of Labour has pledged to the lenders of the European Union and the International Monetary Fund that if the increase of spending exceeds 2.5% of GDP, then it would proceed with additional interventions in the social insurance system.
According to sources, the Ministry is already preparing scenarios, with the decreasing of pension by 6.5% to 7% being the most likely.
Under the play, the actuarial studies regarding the largest funds will be completed in May, while the completion of the 40 studies by a consultancy is expected by August.
Deputy Minister Giorgos Koutroumanis has publicly committed to a gradual reduction and to a broader change in “secondary” pensions by October.
Meanwhile, the process of declassification of arduous and unhealthy occupations begins in May, estimating at least 250,000 employees to be excluded.
(capital.gr)
Labour Ministry is in difficult position, as the arrival of troika representatives find it off schedule in its commitments regarding the new list of arduous and unhealthy occupations and the implementation of the reform of supplementary pension funds beyond the saving of €3.5b through the fighting against contribution evasion until 2015.
Under the revised Memorandum of Understanding, major twists are expected from January 1, 2012, with the obligation of funds to reduce pensions, if they are not actuarially sustainable.
Sources note that figures are not encouraging and there are sectors in supplementary funds, which do not pass the actuarial tests. A typical example is the funds of SOEs and banks. Some unionists say that Public Power Corp’s fund may run out of money by August, estimating that the pay off for those who are retiring within the year will be postponed.
Also for the supplementary fund of IKA, which includes the vast majority of private sector employees, the news from the actuarial study is not optimistic. The obligations of the fund by 2060 will cause to the increase of spending for pension by 0.7% of GDP.
Ministry of Labour has pledged to the lenders of the European Union and the International Monetary Fund that if the increase of spending exceeds 2.5% of GDP, then it would proceed with additional interventions in the social insurance system.
According to sources, the Ministry is already preparing scenarios, with the decreasing of pension by 6.5% to 7% being the most likely.
Under the play, the actuarial studies regarding the largest funds will be completed in May, while the completion of the 40 studies by a consultancy is expected by August.
Deputy Minister Giorgos Koutroumanis has publicly committed to a gradual reduction and to a broader change in “secondary” pensions by October.
Meanwhile, the process of declassification of arduous and unhealthy occupations begins in May, estimating at least 250,000 employees to be excluded.
(capital.gr)
tommy271
Forumer storico
EURO GOVT-Periphery in focus on talk of Greek restructuring
Tue May 3, 2011 7:25am EDT
* Bunds tread water ahead of ECB, watch periphery
* Portuguese bailout terms expected this week
* Greek yields ease, but little respite seen
By Kirsten Donovan
LONDON, May 3 (Reuters) - Greek government bond yields eased on Tuesday with the euro zone's highly indebted peripheral issuers retaking centre stage, although little lasting respite was seen for Greece as talk of a debt restructuring persisted.
Portuguese yields also headed higher with terms of a bailout package for Lisbon likely to be announced in coming days.
An ECB official said on Monday the terms may allow Lisbon to push back targets for cutting its budget deficit while Finland's eurosceptic True Finns said they could still not support a deal.
"Any hint of generous terms for Portugal would increase the risk that this bailout and any future bailouts may be scuppered by voter opposition in core Europe," said Rabobank rate strategist Richard McGuire.
Greece's finance minister said any debt restructuring involving "haircuts" would be a big mistake .
Greek 10-year yields fell slightly, narrowing the spread over German Bunds by 30 basis points to 1,224 bps, but were still near 16 percent, corresponding to a price of around 57 percent of face value.
Traders said the better tone was a reaction to the even thinner than normal market liquidity last week which exaggerated rises in yields, though but trading flows remained scant .
Bid/offer spreads at the short end of the curve of around 400 cents reflected the illiquidity of the paper, compared with around 250 cents in mid-April before talk Athens might eventually have to restructure its debt picked up.
"The market is pushing on a string in that it can push up Greek yields to ever more absurd heights but so long as the sovereign doesn't need to fund itself in the market it's academic," McGuire said.
German government bonds edged lower and June Bund futures marked time ahead of Thursday's European Central Bank policy meeting and Friday's U.S. employment report with the contract FGBLc1 eight ticks lower at 122.75.
With futures paring losses on Monday to hold above the March 24 high of 122.74, analysts still see potential to move towards the March 16 high of 123.92.
However Bunds stumbled at the first resistance on Tuesday which came at Friday's 122.92 close with 122.50 offering the first support level. "The Bund future has displayed some difficulties ahead of the 123.00 resistance level, but technically the uptrend still appears unbroken, which does leave some more headroom from this perspective," Commerzbank rate strategists said.
"(The ECB and payrolls) could leave the Bund future still trading range-bound before potentially bearish headwinds unfold in the latter half of the week."
Two-year German bond yields DE2YT=TWEB were a basis point higher at 1.819 percent, with 10-year yields DE10YT=TWEB up 1.5 bps at 3.25 percent.
"Risks for the short end are squarely to the downside," said UniCredit's chief euro zone economist Marco Valli in a note.
"It is very unlikely (ECB President Jean-Claude) Trichet will mention Greece as a potential reason to slow down the rate normalisation process, while the high risk of a shift to "vigilance" makes the two-year Schatz at 1.80 percent look definitely expensive."
AUSTRIAN AUCTION
Austria sold 600 million euros of 2017 bonds and 600 million euros of 2026 paper.
"It went fine...signalling that although demand for the Bund was poor last week, more generally demand for triple-A rated paper at a decent pickup to Bunds remains strong," said Credit Agricole rate strategist Peter Chatwell.
"Spain's auction on Thursday should be much more significant a test of demand for risk taking."
Spain will sell five-year bonds on Thursday, but Spanish yields have eased in recent sessions, decoupling from the widening yield spreads over Germany seen in Greek, Portuguese and Irish debt and recent Spanish auctions have gone smoothly.
(Reuters)
Tue May 3, 2011 7:25am EDT
* Bunds tread water ahead of ECB, watch periphery
* Portuguese bailout terms expected this week
* Greek yields ease, but little respite seen
By Kirsten Donovan
LONDON, May 3 (Reuters) - Greek government bond yields eased on Tuesday with the euro zone's highly indebted peripheral issuers retaking centre stage, although little lasting respite was seen for Greece as talk of a debt restructuring persisted.
Portuguese yields also headed higher with terms of a bailout package for Lisbon likely to be announced in coming days.
An ECB official said on Monday the terms may allow Lisbon to push back targets for cutting its budget deficit while Finland's eurosceptic True Finns said they could still not support a deal.
"Any hint of generous terms for Portugal would increase the risk that this bailout and any future bailouts may be scuppered by voter opposition in core Europe," said Rabobank rate strategist Richard McGuire.
Greece's finance minister said any debt restructuring involving "haircuts" would be a big mistake .
Greek 10-year yields fell slightly, narrowing the spread over German Bunds by 30 basis points to 1,224 bps, but were still near 16 percent, corresponding to a price of around 57 percent of face value.
Traders said the better tone was a reaction to the even thinner than normal market liquidity last week which exaggerated rises in yields, though but trading flows remained scant .
Bid/offer spreads at the short end of the curve of around 400 cents reflected the illiquidity of the paper, compared with around 250 cents in mid-April before talk Athens might eventually have to restructure its debt picked up.
"The market is pushing on a string in that it can push up Greek yields to ever more absurd heights but so long as the sovereign doesn't need to fund itself in the market it's academic," McGuire said.
German government bonds edged lower and June Bund futures marked time ahead of Thursday's European Central Bank policy meeting and Friday's U.S. employment report with the contract FGBLc1 eight ticks lower at 122.75.
With futures paring losses on Monday to hold above the March 24 high of 122.74, analysts still see potential to move towards the March 16 high of 123.92.
However Bunds stumbled at the first resistance on Tuesday which came at Friday's 122.92 close with 122.50 offering the first support level. "The Bund future has displayed some difficulties ahead of the 123.00 resistance level, but technically the uptrend still appears unbroken, which does leave some more headroom from this perspective," Commerzbank rate strategists said.
"(The ECB and payrolls) could leave the Bund future still trading range-bound before potentially bearish headwinds unfold in the latter half of the week."
Two-year German bond yields DE2YT=TWEB were a basis point higher at 1.819 percent, with 10-year yields DE10YT=TWEB up 1.5 bps at 3.25 percent.
"Risks for the short end are squarely to the downside," said UniCredit's chief euro zone economist Marco Valli in a note.
"It is very unlikely (ECB President Jean-Claude) Trichet will mention Greece as a potential reason to slow down the rate normalisation process, while the high risk of a shift to "vigilance" makes the two-year Schatz at 1.80 percent look definitely expensive."
AUSTRIAN AUCTION
Austria sold 600 million euros of 2017 bonds and 600 million euros of 2026 paper.
"It went fine...signalling that although demand for the Bund was poor last week, more generally demand for triple-A rated paper at a decent pickup to Bunds remains strong," said Credit Agricole rate strategist Peter Chatwell.
"Spain's auction on Thursday should be much more significant a test of demand for risk taking."
Spain will sell five-year bonds on Thursday, but Spanish yields have eased in recent sessions, decoupling from the widening yield spreads over Germany seen in Greek, Portuguese and Irish debt and recent Spanish auctions have gone smoothly.
(Reuters)
tommy271
Forumer storico
Bce drena 62,177 mld in sterlizzazione su target 76 mld
martedì 3 maggio 2011 13:35
(aggiunge commenti tesoriere)
FRANCOFORTE/MILANO, 3 maggio (Reuters) - La Bce ha drenato soli 62,177 miliardi di euro - contro una cifra obiettivo di 76 miliardi - nell'operazione settimanale di sterlizzazione della liquidità in eccesso generata dal proprio programma di acquisto bond ECB25.
In asta sono giunte offerte di fondi da 58 banche.
L'operazione, al tasso massimo dell'1,25%, ha regolamento su domani e rientro su mercoledì 11 maggio.
"Il risultato ci ha un po' stupiti, ma si spiega ancora con una convenienza delle banche a tenere i fondi per darli sul mercato, piuttosto che alla Bce" commenta un tesoriere da Milano.
Il tasso medio sui depositi è risultato all'1,16% dall'1,17% di una settimana fa; quello marginale invariato all'1,25%.
Sul mercato, attorno alle 13,20, l'overnight tratta su livelli più sostenuti, l'1,26/36% su piattaforma Mid.
"D'altra parte è successo lo stesso stamane col p/t settimanale, le banche che hanno richiesto circa 10 milairdi in più di liquidità rispetto alla settimana scorsa" nota ancora il tesoriere.
Nell'ultima settimana - secondo le comunicazioni di ieri - non c'è stato alcun acquisto di bond sul mercato secondario da parte di Francoforte.
Il risultato dell'operazione odierna rafforza la tendenza emersa con quello di martedì scorso, quando la Bce raccolse depositi per 71,4 miliardi di euro a fronte di un target - anche in quel caso - di 76 miliardi.
"Credo che rimanga prettamente questione di tassi anche se si può interpretare positivamente il fatto che la banche decidano di dare più liquidità sul mercato, in termini di fiducia nelle controparti" conclude l'operatore che - alla luce di quest'ultima operazione - stima un eccesso di fondi nel sistema di 63-64 miliardi contro i circa 53 che si sarebbero avuti in caso di piena copertura del target della Bce.
martedì 3 maggio 2011 13:35
(aggiunge commenti tesoriere)
FRANCOFORTE/MILANO, 3 maggio (Reuters) - La Bce ha drenato soli 62,177 miliardi di euro - contro una cifra obiettivo di 76 miliardi - nell'operazione settimanale di sterlizzazione della liquidità in eccesso generata dal proprio programma di acquisto bond ECB25.
In asta sono giunte offerte di fondi da 58 banche.
L'operazione, al tasso massimo dell'1,25%, ha regolamento su domani e rientro su mercoledì 11 maggio.
"Il risultato ci ha un po' stupiti, ma si spiega ancora con una convenienza delle banche a tenere i fondi per darli sul mercato, piuttosto che alla Bce" commenta un tesoriere da Milano.
Il tasso medio sui depositi è risultato all'1,16% dall'1,17% di una settimana fa; quello marginale invariato all'1,25%.
Sul mercato, attorno alle 13,20, l'overnight tratta su livelli più sostenuti, l'1,26/36% su piattaforma Mid.
"D'altra parte è successo lo stesso stamane col p/t settimanale, le banche che hanno richiesto circa 10 milairdi in più di liquidità rispetto alla settimana scorsa" nota ancora il tesoriere.
Nell'ultima settimana - secondo le comunicazioni di ieri - non c'è stato alcun acquisto di bond sul mercato secondario da parte di Francoforte.
Il risultato dell'operazione odierna rafforza la tendenza emersa con quello di martedì scorso, quando la Bce raccolse depositi per 71,4 miliardi di euro a fronte di un target - anche in quel caso - di 76 miliardi.
"Credo che rimanga prettamente questione di tassi anche se si può interpretare positivamente il fatto che la banche decidano di dare più liquidità sul mercato, in termini di fiducia nelle controparti" conclude l'operatore che - alla luce di quest'ultima operazione - stima un eccesso di fondi nel sistema di 63-64 miliardi contro i circa 53 che si sarebbero avuti in caso di piena copertura del target della Bce.
- Stato
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