TBOND-BUND-EUROSTOX-FIBMERD fine del capitalismo(V.M.98anni)

dan24 ha scritto:
va be....penso abbiate frainteso il "allora dovevi andare long non solo dirlo"...ma non era offensivo...cmq...chi se ne frega...

:) :)
va che era un ottimo sprone :up:
ho solo voluto dire il pikkè io non lo fassi :lol:
 
gipa69 ha scritto:
U.K. Inflation Rate Increases to Highest Since 1997 (Update8)

By Brian Swint

Dec. 12 (Bloomberg) -- Britain's inflation rate rose to the highest in at least nine years in November, increasing speculation that the Bank of England will lift interest rates next year.

Consumer prices rose 2.7 percent from a year earlier, the most since the index was introduced in January 1997, after a 2.4 percent gain in October. Economists had expected an increase to 2.6 percent. Consumer prices rose 0.3 percent in the month, led by gains in utility bills and transport costs.

Faster inflation may prompt workers to push for higher wages when collective pay agreements are set in the first quarter. Bank of England Governor Mervyn King has said policy makers will act if companies and workers agree to escalate pay deals.

``It's clear the bank sees this as a significant threat, and that's one reason why they'll raise rates once more,'' Paul Dales, an economist at Capital Economics Ltd. in London.

The pound and interest-rate futures rose as investors stepped up bets on the Bank of England's benchmark rate reaching 5.25 percent next year from the current 5 percent. That would be higher than the euro zone rate, which the European Central Bank increased to 3.5 percent on Dec. 7, and would match the U.S. key rate, which economists expect to be left unchanged today.

The implied rate on the futures contract maturing in March rose 3 basis points to 5.40 percent as of 3:11 p.m. in London, up from 5.3 percent Dec. 4.

The pound rose by the most in six weeks against the euro, gaining as much as 0.5 percent from yesterday's close to 67.34 pence. The U.K. currency also climbed against the dollar, to $1.9678 from $1.9584. It has risen 14 percent so far this year, reaching a 14-year high of $1.9848 on Dec. 1.

Holiday Shopping

Above-target inflation for seven months and higher interest rates are hitting consumers as the holiday shopping season begins. Tesco Plc, Britain's biggest retailer, said last week U.K. sales growth slowed in the fiscal third quarter as price cuts on clothing and alcoholic drinks failed to lure shoppers.

Debenhams Plc, Britain's second-largest department-store company, said today that sales fell in the 14 weeks ending Dec. 10 as shoppers delayed Christmas spending.

Utility bills, transport, recreation and culture costs contributed most to the acceleration in inflation in November, today's figures showed. Household bills rose 11.1 percent from November last year, the biggest gain since the series began.

Retail Prices and Pay

Retail-price inflation accelerated to 3.9 percent in November from 3.7 percent in October, the government said today. Wage negotiators use this index in pay talks. When mortgage interest payments are excluded, the retail-price index rose to 3.4 percent, the highest since March 1993.

``People are struggling to keep up with inflation,'' said Paul Sellers, economic policy adviser at the Trades Union Congress, which represents more than 7 million workers. ``I don't see any inflation-busting pay deals coming up, but pay has proved remarkably stable over the past year and that can't go on forever.''

U.K. employees at Ford Motor Co. and Rolls Royce Plc, as well as air traffic controllers, are set to receive pay increases of more than 4 percent because their wages are linked to the retail-price index, Ken Mulkearn, the editor of Incomes Data Services' pay reports in London, said in an interview. While the median pay increase is still around 3 percent, average wage deals are going up, he said.

Rising Joblessness

Unemployment is also rising, keeping a lid on wages, as around half a million immigrants from Eastern Europe join the workforce. Benefit claims claimed by the unemployed reached a five-year high in October, and wage growth including bonuses was the lowest since January in the third quarter, the statistics office said Nov. 15.

The inflation rate will rise to about 2.7 percent at the end of 2006 before receding, the Bank of England said Nov. 15. Governor Mervyn King said energy costs should decline in the next few months.

The threat of a pickup in wages early next year meant that raising rates last month was justified, Bank of England policy maker Paul Tucker said in a speech yesterday.

To contact the reporter on this story: Brian Swint in London at [email protected] .

Last Updated: December 12, 2006 10:17 EST

già gli short sterling su mar e jun si stanno adeguando per un altro rialzo di 0,25
azz mi sto per cacciare in un altro posto inguaiato :D
 
U.S. Treasuries Extend Gains as Fed Spurs Optimism for Rate Cut

By Gavin Finch

Dec. 13 (Bloomberg) -- U.S. Treasuries extended gains as futures prices showed traders are increasing bets the Federal Reserve will cut interest rates next year.

Two-year notes, more sensitive than longer-dated debt to changes in the outlook for monetary policy, had the biggest gain in more than a week yesterday after the Fed left its benchmark rate unchanged at 5.25 percent and said the economy had slowed.

``I would take a dovish stance from this Fed statement, which is quite bullish,'' said Steven Major, head of fixed-income strategy at HSBC Holdings Plc in London. The statement ``shows the Fed is very conscious of growth and that they will be easing come the second quarter of 2007.''

The benchmark two-year note's yield fell 3 basis points to 4.59 percent at 10:48 a.m. in London, after falling 5 basis points yesterday, according to bond broker Cantor Fitzgerald LP.

The price of the 4 5/8 percent note maturing in November 2008 was at 100 2/32.

The yield on 10-year notes fell 2 basis points to 4.48 percent, after falling 3 basis points yesterday, the biggest drop since Nov. 30.

Policy makers voted 10-1 to leave the benchmark lending rate at 5.25 percent for the fourth straight meeting. They had raised it a quarter-percentage point at each of their 17 meetings from June 2004 to June 2006.

Growth Slowdown

``Economic growth has slowed over the course of the year, partly reflecting a substantial cooling of the housing market,'' the Fed said, adding ``substantial'' to a sentence that appeared in its previous statement in October. The new statement also contained a new clause describing recent economic data as ``mixed.''

The language reinforced speculation in the market that a rate reduction is penciled in by June. After the announcement traders raised bets the Fed will cut its main rate a quarter- point by the end of May. That probability rose to 67 percent, from 59 percent, based on futures prices tied to the rate on the Chicago Board of Trade.

Gains for Treasuries may be limited before the release of a report expected to show that retail sales rose 0.2 percent in November, following a 0.4 percent decline in October, according to economists surveyed by Bloomberg News. The Commerce Department releases the data at 8:30 a.m. in New York.

Figures such as those may keep the Fed on hold, said Peter Munckton, head of debt research at Commonwealth Bank of Australia in Sydney.

``Yields look low,'' Munckton said. ``If you've got a job and decent wage growth, you're still spending money. There's no reason for rate cuts.'' The 10-year yield may rise to 5 percent in six months, he said.
 

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