Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (16 lettori)
- Creatore Discussione Imark
- Data di Inizio
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velico
Forumer attivo
Italy 10-year spread (.IT10:IND) Index Performance - Bloomberg
piuttosto tommy dove trovi quello greco?
piuttosto tommy dove trovi quello greco?
tommy271
Forumer storico
ECB Mersch Hints No Bond Buys, More Rate Hikes
By Market News International || July 18, 2011 at 10:45 GMT
–Adds Comments On Monetary Policy, ECB Non-Standard Measures, EFSF
FRANKFURT (MNI) – The European Central Bank’s sovereign bond buying
program has reached its limit, ECB Governing Council member Yves Mersch
suggested in a strong hint that, contrary to market rumors, the ECB did
not intervene in the bond market last week.
Japan’s Nikkei news agency asked Mersch whether the ECB is close to
its limit regarding on buying sovereign bonds as part of the Securities
Markets Program.
“We took action facing an institutional vacuum in Europe,” Mersch
replied, referring to the ECB’s decision in May 2010 to start buying
bonds. “At that time we were confronted with a slow decision-making
process by governments. But finally the rescue umbrella was launched.
Now, we can consequently defend the strict distinction between monetary
and fiscal policy.”
The ECB had not bought bonds for over three months, but as the
crisis threatened to spread to Italy last week, there were rumours that
the ECB had intervened to buy Italian sovereigns. The ECB will release
figures at 1330 GMT today showing whether that was indeed the case.
Some uncertainty may remain, since today’s data would only show
bonds bought the first half of last week – though that is when the
intervention was rumored to be.
Mersch said that the ECB had raised rates “in order to maintain the
effective long-term interest rate in the euro area at a low level” and
suggested that more tightening may be in the pipeline.
While he said that the ECB had not announced “a series of rate
hikes” and is “never pre-committed,” he also observed that “risks to
growth are balanced, while risks to price stability lie on the upside,”
and the monetary pillar show no credit constraints.
At the same time, real interest rates are still negative, Mersch
observed, and he warned that this in itself is a concern for the
Governing Council.”The whole available theory tells us about the danger
of too-long periods of negative real rates. This is also an argument and
we discuss it at every meeting in order to reach our goal of price
stability in the medium term,” Mersch said.
The Governor of the Central Bank of Luxembourg also noted that the
recent economic slowdown had already been embedded in the central bank’s
projections, suggesting that it would not be a cause for the ECB to
reconsider its desire to lift rates.
Mersch also backed calls made by ECB President Jean-Claude Trichet
and Executive Board member Lorenzo Bini Smaghi over the weekend to allow
the EFSF to intervene in the secondary bond market. However, he said the
question of whether to increase the volume of the fund is of secondary
importance.
“For me it is not the question of size. It is not a matter of
volume, but of implementation. If you agree upon the process, how to use
the umbrella efficiently and effectively, the question of size will be
of minor importance,” Mersch said. “If you rate the question of the
volume too high, the danger of contagion moves to the front.”
Mersch said the ECB’s own non-standard liquidity providing measures
will remain in place for “as long as it seems appropriate” in order to
“guarantee the transmission of monetary policy for the whole euro area.”
“If uncertainty diminishes, we can gradually continue our exit,” he
added. “We are providing money to banks, but our goal is price
stability. The so-called separation between liquidity management and
monetary policy is in place.”
By Market News International || July 18, 2011 at 10:45 GMT
–Adds Comments On Monetary Policy, ECB Non-Standard Measures, EFSF
FRANKFURT (MNI) – The European Central Bank’s sovereign bond buying
program has reached its limit, ECB Governing Council member Yves Mersch
suggested in a strong hint that, contrary to market rumors, the ECB did
not intervene in the bond market last week.
Japan’s Nikkei news agency asked Mersch whether the ECB is close to
its limit regarding on buying sovereign bonds as part of the Securities
Markets Program.
“We took action facing an institutional vacuum in Europe,” Mersch
replied, referring to the ECB’s decision in May 2010 to start buying
bonds. “At that time we were confronted with a slow decision-making
process by governments. But finally the rescue umbrella was launched.
Now, we can consequently defend the strict distinction between monetary
and fiscal policy.”
The ECB had not bought bonds for over three months, but as the
crisis threatened to spread to Italy last week, there were rumours that
the ECB had intervened to buy Italian sovereigns. The ECB will release
figures at 1330 GMT today showing whether that was indeed the case.
Some uncertainty may remain, since today’s data would only show
bonds bought the first half of last week – though that is when the
intervention was rumored to be.
Mersch said that the ECB had raised rates “in order to maintain the
effective long-term interest rate in the euro area at a low level” and
suggested that more tightening may be in the pipeline.
While he said that the ECB had not announced “a series of rate
hikes” and is “never pre-committed,” he also observed that “risks to
growth are balanced, while risks to price stability lie on the upside,”
and the monetary pillar show no credit constraints.
At the same time, real interest rates are still negative, Mersch
observed, and he warned that this in itself is a concern for the
Governing Council.”The whole available theory tells us about the danger
of too-long periods of negative real rates. This is also an argument and
we discuss it at every meeting in order to reach our goal of price
stability in the medium term,” Mersch said.
The Governor of the Central Bank of Luxembourg also noted that the
recent economic slowdown had already been embedded in the central bank’s
projections, suggesting that it would not be a cause for the ECB to
reconsider its desire to lift rates.
Mersch also backed calls made by ECB President Jean-Claude Trichet
and Executive Board member Lorenzo Bini Smaghi over the weekend to allow
the EFSF to intervene in the secondary bond market. However, he said the
question of whether to increase the volume of the fund is of secondary
importance.
“For me it is not the question of size. It is not a matter of
volume, but of implementation. If you agree upon the process, how to use
the umbrella efficiently and effectively, the question of size will be
of minor importance,” Mersch said. “If you rate the question of the
volume too high, the danger of contagion moves to the front.”
Mersch said the ECB’s own non-standard liquidity providing measures
will remain in place for “as long as it seems appropriate” in order to
“guarantee the transmission of monetary policy for the whole euro area.”
“If uncertainty diminishes, we can gradually continue our exit,” he
added. “We are providing money to banks, but our goal is price
stability. The so-called separation between liquidity management and
monetary policy is in place.”
tommy271
Forumer storico
tommy271
Forumer storico
Btp, tasso 10anni sopra 6%, tasso bond Spagna a massimi euro
lunedì 18 luglio 2011 13:11
LONDRA, 18 luglio (Reuters) - I tassi dei decennali di riferimento italiano e spagnolo sono schizzati in seduta sui timori degli investitori che i politici non risolvano la crisi del debito nel breve periodo.
Sulla piattaforma Tradeweb, il tasso del decennale italiano IT10YT=TWEB ha infranto al rialzo la soglia del 6% portandosi al 6,029%, con un rialzo di circa 24 punti base rispetto a venerdì, mentre il benchmark spagnolo ha visto un rialzo al massimo nella storia dell'euro a 6,345%.
Il 21 luglio i leader europei si incontreranno per discutere il secondo pacchetto di salvataggio per la Grecia e la stabilità finanziaria della zona euro. Lo ha detto venerdì il presidemte del consiglio europeo Herman Van Rompuy.
Resta tuttavia non chiarito come il settore privato verrà coinvolto e che conseguenze questo potrà avere.
lunedì 18 luglio 2011 13:11
LONDRA, 18 luglio (Reuters) - I tassi dei decennali di riferimento italiano e spagnolo sono schizzati in seduta sui timori degli investitori che i politici non risolvano la crisi del debito nel breve periodo.
Sulla piattaforma Tradeweb, il tasso del decennale italiano IT10YT=TWEB ha infranto al rialzo la soglia del 6% portandosi al 6,029%, con un rialzo di circa 24 punti base rispetto a venerdì, mentre il benchmark spagnolo ha visto un rialzo al massimo nella storia dell'euro a 6,345%.
Il 21 luglio i leader europei si incontreranno per discutere il secondo pacchetto di salvataggio per la Grecia e la stabilità finanziaria della zona euro. Lo ha detto venerdì il presidemte del consiglio europeo Herman Van Rompuy.
Resta tuttavia non chiarito come il settore privato verrà coinvolto e che conseguenze questo potrà avere.
gianfranco199
Forumer attivo
BTP 2021 uno dei pochi trattabili -2 % con un volume scambi in 4h pari a 25 milioni di £.Ditemi voi...
tommy271
Forumer storico
Una conferenza telefonica tra Bruxelles e i paesi della zona euro dovrebbe aver luogo Mercoledì per finalizzare la decisione sul pacchetto di stimolo in Grecia, secondo il quotidiano Financial Times, citato informazioni da un alto funzionario della UE
Il Naftemporiki riporta inoltre che la conferenza telefonica sarà preceduta dal calcolo del costo dei creditori privati, in particolare le banche, sulla base di diversi scenari di partecipazione al pacchetto di sostegno della Grecia. Secondo il rapporto, il calcolo dovrebbe essere completato tra le prossime 24/ 48 ore.
PASTELLETTO
Guest
Magari, allo sgroppino.
Comunque ho una malsana voglia di fare come Bud Spencer ed acchiappare insieme le teste dei vari leader per sfracassarle l'una sull'altra con gesto atletico.
Che perfetto esempio di inettitudine.
- Stato