Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1

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grazie
l'unico dubbio è se spostarmi su scadenze piu corte tipo 2019 6.5 meno difensive ma più reattive scelta difficile

Forse è meglio.
Premetto che le ho in portafoglio, ma guarda la fascia poco sotto.

Ho visto che sei molto sovraesposto sui trentennali, sulle 16/17/18 i prezzi sono lì e lì ...
 
grazie
l'unico dubbio è se spostarmi su scadenze piu corte tipo 2019 6.5 meno difensive ma più reattive scelta difficile

Effettivamente io così ho fatto....ma si rischia molto di più.....
Ma se la storia va bene......si può innescare bei giochetti tra corte medie e lunghe... Oltre ai rendimenti chiaramente.....

Complimenti ancora, hai avuto quel coraggio che io all' inizio criticavo...ma poi hai avuto ragione....."tagliare quando serve"

Comunque ho roba molto più corta......
 
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Zona euro, garanzie fondo salvataggio saliranno a 726 mld euro
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Reuters - 17/05/2011 16:38:08
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HELSINKI, 17 maggio (Reuters) - I ministri delle finanze dell'area euro si sono accordati per aumentare il livello delle garanzie per il fondo di salvataggio europeo EFSF (European Financial Stability Facility) a 726 miliardi di euro. Lo ha reso noto oggi il ministero delle Finanze finlandese.

La quota finlandese nell'EFSF - ideato per concedere prestiti ai paesi della zona euro alle prese con una crisi di debito, cui è impossibile produrre liquidità attraverso i mercati obbligazionari - è salita a 14 miliardi di euro da 7,9 miliardi.

I leader della zona euro si erano in precedenza accordati per una dotazione di 440 miliardi, e prima ancora per un livello di garanzia di 250 miliardi .

La dotazione effettiva del fondo è inferiore rispetto al suo valore nominale perchè è previsto che mantenga una tripla A nel giudizio di credito.

Il consulente del ministero delle Finanze finlandese Martii Salmi ha detto che tutti i paesi della zona euro, e non solo quelli con un giudizio di credito di tripla A, aumenteranno le loro garanzie sul fondo.

Il ministero ha anche aggiunto che l'approvazione finale del piano di aumento è attesa per giugno, quando i leader europei dovrebbero esprimersi su un meccanismo permanente per garantire la stabilità della zona euro.
 
Germany Dep FinMin:Worst Case Greece Cld Seek Priv Sec Relief



BRUSSELS (MNI) - Fiscally troubled Greece could have to seek relief from its private sector investors if the country is unable to emerge from its travails by dint of government reform measures and the financial aid it has been granted so far, German Deputy Finance Minister Joerg Asmussen said Tuesday.
Speaking to the press after the Eurogroup and Ecofin meetings here, Asmussen said that all finance ministers in the meetings had pressed Athens to undertake further efforts, in particular to expedite privatization and to ensure it will would meet this year's fiscal targets.
Asmussen's boss, Finance Minister Wolfgang Schaeuble, attended the gathering but could not brief media owing to another engagement.
Asmussen confirmed that the Eurogroup had "unanimously agreed to propose [Bank of Italy Governor] Mario Draghi to the European Council as successor to [current ECB President] Jean-Claude Trichet."
"I assume the Ecofin" will also express its support of Draghi, he said, adding that "Germany supported Draghi because his conception of a stability-oriented monetary policy is very close to ours."
The current mission to Athens of the so-called troika, consisting of the IMF, the EU Commission and the ECB, will presumably last a week longer than planned, Asmussen reported.
"But it can be seen already on the basis of the interim report that Greece has to undertake further efforts to fulfill the program," he said. In particular, such efforts need to focus on meeting the fiscal goals for the current year and pushing forward with the privatization plans."
"The question is how can one accelerate this privatization," in part to gain credibility, but also simply to obtain further needed revenues, Asmussen said.
If it emerges that yet more is needed from Greece, then "it lies above all with the Greek authorities" to determine how to do what is necessary, he said.
Should this prove insufficient, then the private sector could be asked to provide some relief for Greece "on a voluntary basis," he said, declining to be specific.
"All the ministers pressed Greece to take additional steps," he said. "Without any argument," what the Greeks are seeking to accomplish is "not easy," he said, and what they have managed to do so far "deserves respect."
"There was indeed a discussion of whether there should be an adjustment of the existing program or whether there should be a new program," Asmussen said. There was "definitively no decision" on this.
For now, the first thing is to await the analysis currently being done by the troika, he said. Then, it is "the choice of Greece" how to proceed. Only thereafter, if need be, might there be further steps, he said. But what policymakers would choose cannot be stated at this point, nor whether reprofiling would be an option, he said.
With respect to Ireland, Asmussen reported that Dublin had "completely implemented" the program it signed up for and that the second tranche of financial aid could thus be disbursed.
"The question of a possible reduction in the interest rate" applied to Irish loans "played no role" in discussions here and there was "no decision taken," he said.
As to Portugal, "it is important that the Portuguese government implement the program fully," he said. "We assume that the program will be supported regardless of who governs Portugal in the future."
Schaeuble, he said, had called for "close monitoring" of Portuguese progress in case subsequent modifications become necessary.
In other comments, Asmussen reiterated the German call for a complete ban on uncovered short-selling.



(imarketnews.com)
 
Fewer But Larger Ships For Greek Ship-Owners



Greek ship-owners ranked first in deals in 2010, with investments of $9.3b for 325 ships of total capacity of 22.8 million tons dtw. Shipbroking sources note that Greek ship-owners regain the leading position from Chinese, with a bulk of orders for new ships in Asian shipyards.

Although they made an impressive turn to investing transaction, they had started to renew their fleets a few years ago, reducing significantly the average of ships. 221 ship transactions worth $4b have been made in 2009, in comparison with 302 transactions worth $4.1b by Chinese ship-owners.

Overall, the Greek-owned fleet amounted to 3,848 ships in March 2011, with a capacity of 261 million tons dtw, decreased by 148 ships in the previous year. However, the total capacity stood at 258.121 million tons in March 2010.

Last year, the average daily freights was $16,035, increased by 25%, in comparison with 2009, according to N. Cotzias Shipping Consultants, while the average daily operating cost was about $7,500, generating substantial profits for ship-owners.

Under estimates, the freight prices in 2011 will be at 2010 levels and the ship-owners consider the financing of new investments and overcapacity.

By 2014, the world fleet is expected to increase by 30% in capacity, however analysts and brokers are concerned by the overcapacity, as it would result in huge reduction of freight.

7,142 new ships are expected in 2011, reflecting a 10% of the market despite of 969 cancellations of orders. According to N. Cotzias, one of six cancellations is by a Greek company.

Under the ideal scenario, the world fleet would increase by 5% annually. Ship-owners are aware of that but there don’t seem willing to do so, as they have already proceeded with $1.9 investments in the first quarter of 2011, according to Golden Destiny.

(capital.gr)

***
Shipping.
 
Rebounding Banks Push ASE Higher



The Athens market moved upwards for just the third time in May, with the turnover remaining thin and ask-side interest breaking out at the end of the trading session on Tuesday.

A drop of shares and indices to 14-year lows preceded on Monday, in an environment of uncertainty and low trading activity.

This environment maintained at Tuesday’s meeting, however the banks’ reaction was strong enough to push the General Index towards 1,350 units.

Market analysts comment that the Greek market remains “trapped” in a climate of uncertainty regarding the fate of Greek fiscal issues, watching the developments at European Union level and anticipating the announcement of specific measures of the medium-term program.

They also note that the turnover levels in recent sessions are not suitable for drawing conclusions regarding the market’s trend, increasing possibility of volatile sessions in the near future.


However, they consider positive the outcome of today’s auction of Greek Treasury bills by the Greek state, which raised €1.625b at a slightly lower rate than the previous auction. But this development was unable to reverse the intraday trend.


Across the board, the General Index ended close to session’s high, at 1,346.87 units, up 1.25%, after fluctuation between profits and losses into a margin of 28.7 units or 2.16%. Approximately 20.25 million units worth €66.99 million were traded on Tuesday, while a total amount of 76 shares rose, 54 declined and 151 remained unchanged.

Banks ended at session’s high, at 1,004.04 units, up 3.82%, moving in positive territory throughout the trading session. ATEbank and Proton Bank stood out, posting profits of 7.84% and 7.14% respectively, while Eurobank and Alpha Bank rose by 6.56% and 4.89% respectively. National Bank gained more than 4%, Hellenic Postbank and Bank of Cyprus recorded profits of 3.35% and 3.17% respectively.

Besides banks, Viohalko topped FTSE20, with profits of 4.11%, while Hellenic Petroleum and OPAP gained 2.87% and 1.81%. On the other hand, Jumbo and Coca-Cola 3E declined by 1.70% and 1.53% respectively.

(capital.gr)
 
Borsa Atene: Ase chiude a +1,3% dopo rally di fine seduta



MILANO (MF-DJ)--L'indice Ase di Atene chiude in rialzo dell'1,3% a 1346,87 punti.
Il rally di fine seduta elimina le perdite precedenti in scia a indiscrezioni su riunioni di emergenza del governo greco sul piano di privatizzazioni.
Gli esperti smentiscono le voci e dichiarano che il sentiment rimane debole e che proseguira' il trend al ribasso.
"Ovviamente il mood rimane negativo e i mercati rimbalzano di fronte ad ogni notizia", afferma un analista.
In rialzo National Bank a +4,3% e Alpha Bank a +4,9%
 
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