Obbligazioni valute high yield TURCHIA bond in usd e lira turca (4 lettori)
- Creatore Discussione sentex
- Data di Inizio
m.m.f
Forumer storico
personalmente col dollaro così forte e a questi prezzi io non li compro...posso dirti il mio punto di vista riferito a me.Se uno li ha è scelta tua tenerseli e cedolare o venderli e se in gain capitalizzare.
m.m.f
Forumer storico
Turkish lira poised to break through central bank’s line of defence
The lira has traded at between 6.93 and 6.99 per dollar this week even after monetary policymakers cut interest rates more than expected and consumer confidence slid to its lowest level on record. Losses this year for the lira total almost 15 percent. It briefly fell to 7.23 per dollar in 2018.
Turkey’s central bank is seeking to bolster the lira’s value in partnership with state-run banks while it supports the government’s efforts to shield the economy from the impact of COVID-19. On Wednesday, it cut the benchmark interest rate by 100 basis points to 8.75 percent, surprising economists, who had forecast a 50-basis point reduction.
Technical analysis shows upside resistance for the lira at 6.9275 per dollar and downside support at 7.0086, FXWirePro said on Thursday, citing the currency’s five-day moving average values.
The lira fell by 0.5 percent to 6.97 per dollar in Istanbul on Friday, erasing gains on Thursday that took it as high as 6.931. The currency momentarily traded at 7.0008 on Tuesday.
The dollar-lira exchange rate is well on its way to surpassing 7.00 in the coming days and this would probably have happened even if the central bank did not cut rates so sharply, the EconoTimes said on Thursday, citing options trading platform Sentry and Germany’s Commerzbank.
The central bank has used up nearly all its foreign currency reserves, net of liabilities, after it engaged in currency swaps with state-run banks in recent months. Its reserves of dollars and euros, when subtracting the swaps trading it has already conducted with local banks, stand at less than $1 billion, according to official data.
A decision by the central bank this week that raised the ceiling on the size of lira swap transactions to 30 percent of banks’ total foreign exchange and derivatives transactions from 20 percent could increase the central bank’s foreign currency reserves by $5 billion. But the move is unlikely to affect the direction of the lira, the EconoTimes said.
Brad Bechtel, global head of foreign exchange at U.S. investment firm Jefferies, told Bloomberg this week that the central bank is continuing to fight the market, but it seems only a matter of time before they are forced to capitulate
- Ahval
- Apr 24 2020 11:27 Gmt+3
- Last Updated On: Apr 25 2020 10:40 Gmt+3
The lira has traded at between 6.93 and 6.99 per dollar this week even after monetary policymakers cut interest rates more than expected and consumer confidence slid to its lowest level on record. Losses this year for the lira total almost 15 percent. It briefly fell to 7.23 per dollar in 2018.
Turkey’s central bank is seeking to bolster the lira’s value in partnership with state-run banks while it supports the government’s efforts to shield the economy from the impact of COVID-19. On Wednesday, it cut the benchmark interest rate by 100 basis points to 8.75 percent, surprising economists, who had forecast a 50-basis point reduction.
Technical analysis shows upside resistance for the lira at 6.9275 per dollar and downside support at 7.0086, FXWirePro said on Thursday, citing the currency’s five-day moving average values.
The lira fell by 0.5 percent to 6.97 per dollar in Istanbul on Friday, erasing gains on Thursday that took it as high as 6.931. The currency momentarily traded at 7.0008 on Tuesday.
The dollar-lira exchange rate is well on its way to surpassing 7.00 in the coming days and this would probably have happened even if the central bank did not cut rates so sharply, the EconoTimes said on Thursday, citing options trading platform Sentry and Germany’s Commerzbank.
The central bank has used up nearly all its foreign currency reserves, net of liabilities, after it engaged in currency swaps with state-run banks in recent months. Its reserves of dollars and euros, when subtracting the swaps trading it has already conducted with local banks, stand at less than $1 billion, according to official data.
A decision by the central bank this week that raised the ceiling on the size of lira swap transactions to 30 percent of banks’ total foreign exchange and derivatives transactions from 20 percent could increase the central bank’s foreign currency reserves by $5 billion. But the move is unlikely to affect the direction of the lira, the EconoTimes said.
Brad Bechtel, global head of foreign exchange at U.S. investment firm Jefferies, told Bloomberg this week that the central bank is continuing to fight the market, but it seems only a matter of time before they are forced to capitulate
m.m.f
Forumer storico
(Bloomberg) -- Turkish banks are demanding a delay to plans by authorities to push them to step up lending, purchase government bonds and engage in swap transactions with the central bank, according to people with knowledge of the matter.
The Turkish Banks Association submitted its request to the banking regulator, known as the BDDK, after a meeting last week, the people said, asking not to be identified because the matter isn’t public. Lenders are also asking the BDDK to amend some of the measures, and to add non-performing loans to the calculations, the people said. The watchdog is considering their demands, they said.
The BDDK last week announced new regulations for banks to maintain a new asset ratio of at least 100% from May 1, saying the rules aim to get lenders to use their resources more effectively during the economic slowdown brought on by the coronavirus pandemic. Banks that fail to maintain the ratio face paying an administrative fee.
Representatives for the banking association and regulator declined to comment.
The new measures are “moderately credit negative” for banks, Fitch Ratings said last week. Some banks would rather cut deposit rates to reduce their deposit holdings instead of lending under the plan, Mahfi Egilmez, a former treasury undersecretary, said on his blog.
President Recep Tayyip Erdogan and Treasury and Finance Minister Berat Albayrak have repeatedly slammed private banks for failing to support companies even before the coronavirus outbreak paralyzed economic activity and curtailed the movement of people.
For more articles like this, please visit us at bloomberg.com
©2020 Bloomberg L.P.
The Turkish Banks Association submitted its request to the banking regulator, known as the BDDK, after a meeting last week, the people said, asking not to be identified because the matter isn’t public. Lenders are also asking the BDDK to amend some of the measures, and to add non-performing loans to the calculations, the people said. The watchdog is considering their demands, they said.
The BDDK last week announced new regulations for banks to maintain a new asset ratio of at least 100% from May 1, saying the rules aim to get lenders to use their resources more effectively during the economic slowdown brought on by the coronavirus pandemic. Banks that fail to maintain the ratio face paying an administrative fee.
Representatives for the banking association and regulator declined to comment.
The new measures are “moderately credit negative” for banks, Fitch Ratings said last week. Some banks would rather cut deposit rates to reduce their deposit holdings instead of lending under the plan, Mahfi Egilmez, a former treasury undersecretary, said on his blog.
President Recep Tayyip Erdogan and Treasury and Finance Minister Berat Albayrak have repeatedly slammed private banks for failing to support companies even before the coronavirus outbreak paralyzed economic activity and curtailed the movement of people.
For more articles like this, please visit us at bloomberg.com
©2020 Bloomberg L.P.
m.m.f
Forumer storico
UPDATE 1-Turkish cenbank makes big one-day bond buy, yields tumble
...swap e acquisti senza sosta e senza limite.
...swap e acquisti senza sosta e senza limite.
m.m.f
Forumer storico
Turkey to run out of net foreign currency reserves this week – TD Securities | Ahval
La banca centrale turca esaurirà le riserve in valuta estera, al netto delle passività, questa settimana, secondo TD Securities.
La banca potrebbe anche esaurire le sue riserve valutarie totali entro la terza settimana di luglio o entro la terza settimana di settembre, secondo gli economisti del broker, secondo il sito di analisi valutaria FXStreet.
"Prima che tutti i buffer siano esauriti, riteniamo che il CBRT aumenterà drasticamente i tassi e probabilmente introdurrà controlli di capitale rigorosi", ha detto il broker. "La Turchia può anche chiedere un sostegno multilaterale se questo scenario si materializza".
Le riserve nette in valuta estera della Turchia erano inferiori a $ 1 miliardo, secondo i calcoli che utilizzano i dati ufficiali, prima di una decisione della scorsa settimana da parte dei responsabili delle politiche monetarie di ridurre i limiti degli scambi di valuta delle banche con la banca centrale. La misura potrebbe raccogliere $ 5 miliardi in linee di swap, secondo quanto riportato da Reuters al momento.
La banca centrale ha fatto affidamento sugli swap con le banche statali per finanziare interventi sui mercati dei cambi a sostegno della lira. La lira viene scambiata di poco meno di 7 per dollaro, vicino al suo livello più basso da quando una crisi valutaria ha raggiunto il picco nell'agosto 2018.
La lira probabilmente si indebolirà a quasi 8 per dollaro all'inizio del prossimo anno, se dovesse persistere la tendenza globale di un dollaro più forte, ha detto TD Securities.
"Queste dinamiche di riserva mostrano i rischi per entrambi i tassi turchi e l'USD / TRY è più alto, prima", ha detto il broker.
Lunedì la lira è scesa dello 0,2 per cento a 6,985 per dollaro.
Le riserve lorde in valuta estera della Turchia sono diminuite di oltre $ 2 miliardi nella settimana al 17 aprile, mostrano i dati della banca centrale pubblicati venerdì.
Il calo ha ridotto le riserve a $ 53,9 miliardi, una perdita di $ 5,5 miliardi rispetto a un mese prima. Ma le riserve auree sono cresciute a $ 33,9 miliardi da $ 28,3 miliardi al mese fa, aiutati da un aumento del prezzo del metallo prezioso.
La banca centrale turca esaurirà le riserve in valuta estera, al netto delle passività, questa settimana, secondo TD Securities.
La banca potrebbe anche esaurire le sue riserve valutarie totali entro la terza settimana di luglio o entro la terza settimana di settembre, secondo gli economisti del broker, secondo il sito di analisi valutaria FXStreet.
"Prima che tutti i buffer siano esauriti, riteniamo che il CBRT aumenterà drasticamente i tassi e probabilmente introdurrà controlli di capitale rigorosi", ha detto il broker. "La Turchia può anche chiedere un sostegno multilaterale se questo scenario si materializza".
Le riserve nette in valuta estera della Turchia erano inferiori a $ 1 miliardo, secondo i calcoli che utilizzano i dati ufficiali, prima di una decisione della scorsa settimana da parte dei responsabili delle politiche monetarie di ridurre i limiti degli scambi di valuta delle banche con la banca centrale. La misura potrebbe raccogliere $ 5 miliardi in linee di swap, secondo quanto riportato da Reuters al momento.
La banca centrale ha fatto affidamento sugli swap con le banche statali per finanziare interventi sui mercati dei cambi a sostegno della lira. La lira viene scambiata di poco meno di 7 per dollaro, vicino al suo livello più basso da quando una crisi valutaria ha raggiunto il picco nell'agosto 2018.
La lira probabilmente si indebolirà a quasi 8 per dollaro all'inizio del prossimo anno, se dovesse persistere la tendenza globale di un dollaro più forte, ha detto TD Securities.
"Queste dinamiche di riserva mostrano i rischi per entrambi i tassi turchi e l'USD / TRY è più alto, prima", ha detto il broker.
Lunedì la lira è scesa dello 0,2 per cento a 6,985 per dollaro.
Le riserve lorde in valuta estera della Turchia sono diminuite di oltre $ 2 miliardi nella settimana al 17 aprile, mostrano i dati della banca centrale pubblicati venerdì.
Il calo ha ridotto le riserve a $ 53,9 miliardi, una perdita di $ 5,5 miliardi rispetto a un mese prima. Ma le riserve auree sono cresciute a $ 33,9 miliardi da $ 28,3 miliardi al mese fa, aiutati da un aumento del prezzo del metallo prezioso.
