La deuda de España frena su mejora
La prima de riesgo se mantiene por la mínima sobre los 400 puntos básicos
El Ibex es la única Bolsa de Europa en rojo, aunque logra recuperar los 7.500 puntos
スペインの財政債務の改善は鈍化し、悪化、2012年08月には債務返済不能に陥る可能性大
Spain's debt improvement slows
The risk premium remains low above 400 basis points
The Dow is the only stock exchange in Europe in red, but manages to recover the 7,500 points
The Country Madrid 12 ABR 2012 - 14:19 CET
The risk premium remains low above 400 basis points
The Dow is the only stock exchange in Europe in red, but manages to recover the 7,500 points
The Country Madrid 12 ABR 2012 - 14:19 CET
Investors yesterday gave warning that fuel the ECB made the mouth of the French representative that their bond-buying program of the countries under pressure, even if it takes four weeks inactive, is ongoing. This clarion call allowed the recovery of the Spanish debt. However, the effect of the words of the director of the Central Bank has barely lasted 24 hours. In anticipation of confirmation within the next two weeks, for the delay with which the ECB publishes its figures, if she has to come to the aid of Spain, the pressure on Treasury bonds has been very volatile mantenido.Tras a day , has finally finished the day with a minimum drop and re-open tomorrow on the psychological dimension of 400 points.
In the stock, although the European benchmarks have opened in green, have suddenly turned around and started again with the declines, the front of which stood the Spanish Ibex 35, which has not abandoned this position until closing with a decline of 0.75%. In the rest of the squares of reference, however, has been to recover margin purchases and, encouraged by rumors that China's growth data, which will be known tomorrow, have ended with gains in all of them.
At the end of the day, the Spanish risk premium has fallen to 403 basis points, has come down to 397 - six less than the day before. The slight improvement in any case, has not been enough to get away from the highest levels of the legislature where it is since last week. It also confirms that there are very few investors believe the debt into Spain, which has become the focus of the turbulence and target of criticism from its European partners. The risk premium is the spread between the yield investors demand to 10-year Spanish bonds against the interest they seek from their German counterparts, the reference for its stability.
ACS leads the Dow falls by the lower valuation per Credit Suisse announced
The focus of the day was at an auction of the Italian Treasury, which has been forced to raise interest to place EUR 4.884 million in long-term debt. Of the total, 2,884,000 were awarded to three years in bonds bearing interest at 3.89% in March when she had only to offer a 2.76%. The interest involved is the highest January. Demand, meanwhile, has dropped from coverage ratio of 1.5 times to 1.4 last month requested more titles that sold. Despite the poor result of the operation, which has conditioned lower on investor sentiment for much of the session, the risk premium has fallen more Italian than Spanish with a decrease of 13 basis points to the 361.
In recent days, the Spanish risk premium has come to play the 437 points amid growing doubts about the government's ability to rein the deficit without exacerbating the recession and uncertainty about financial reform, which has moved away money Treasuries and has drawn on the horizon the specter of international intervention. However, the Government insists that it will not reach that point.
Coincieden Analysts point out that, in any case, the solution to harassment against Spain market must come from Europe or the ECB. In the first case, however, we can expect a response from Brussels in the short term before the electoral process faced two major European partners (France and its regional and presidential elections in Germany) and rejection from Berlin to expand the rescue fund.
more informationRajoy rule out intervention in Spain and stands up to EU leadersGuindos warned that the cuts will be harder if Brussels intervenesThe French director of the ECB stands up for the Spanish economy
As for the central bank and tenor of the words yesterday of his advisor Coeuré Bernat, who supported the government's action, paving the way for an eventual recovery of its measures to keep prices of the debt problems of States under control, it could get some help. The German government itself also supported the markets are not responding to the "effort" by the government of Mariano Rajoy.
As for the stock market, the Dow has distanced himself today from the international markets and has dropped 0.75% affected by profit taking and the decline of the great values. Tomorrow will open in 7,520 points. Annual losses grow to 12.21%.
All great values fell: BBVA, 1.78%, Iberdrola, 1.52%, Telefonica, 1.49%, Banco Santander, 1.38%, and Repsol, 0.88%.
In the stock, although the European benchmarks have opened in green, have suddenly turned around and started again with the declines, the front of which stood the Spanish Ibex 35, which has not abandoned this position until closing with a decline of 0.75%. In the rest of the squares of reference, however, has been to recover margin purchases and, encouraged by rumors that China's growth data, which will be known tomorrow, have ended with gains in all of them.
At the end of the day, the Spanish risk premium has fallen to 403 basis points, has come down to 397 - six less than the day before. The slight improvement in any case, has not been enough to get away from the highest levels of the legislature where it is since last week. It also confirms that there are very few investors believe the debt into Spain, which has become the focus of the turbulence and target of criticism from its European partners. The risk premium is the spread between the yield investors demand to 10-year Spanish bonds against the interest they seek from their German counterparts, the reference for its stability.
ACS leads the Dow falls by the lower valuation per Credit Suisse announced
The focus of the day was at an auction of the Italian Treasury, which has been forced to raise interest to place EUR 4.884 million in long-term debt. Of the total, 2,884,000 were awarded to three years in bonds bearing interest at 3.89% in March when she had only to offer a 2.76%. The interest involved is the highest January. Demand, meanwhile, has dropped from coverage ratio of 1.5 times to 1.4 last month requested more titles that sold. Despite the poor result of the operation, which has conditioned lower on investor sentiment for much of the session, the risk premium has fallen more Italian than Spanish with a decrease of 13 basis points to the 361.
In recent days, the Spanish risk premium has come to play the 437 points amid growing doubts about the government's ability to rein the deficit without exacerbating the recession and uncertainty about financial reform, which has moved away money Treasuries and has drawn on the horizon the specter of international intervention. However, the Government insists that it will not reach that point.
Coincieden Analysts point out that, in any case, the solution to harassment against Spain market must come from Europe or the ECB. In the first case, however, we can expect a response from Brussels in the short term before the electoral process faced two major European partners (France and its regional and presidential elections in Germany) and rejection from Berlin to expand the rescue fund.
more informationRajoy rule out intervention in Spain and stands up to EU leadersGuindos warned that the cuts will be harder if Brussels intervenesThe French director of the ECB stands up for the Spanish economy
As for the central bank and tenor of the words yesterday of his advisor Coeuré Bernat, who supported the government's action, paving the way for an eventual recovery of its measures to keep prices of the debt problems of States under control, it could get some help. The German government itself also supported the markets are not responding to the "effort" by the government of Mariano Rajoy.
As for the stock market, the Dow has distanced himself today from the international markets and has dropped 0.75% affected by profit taking and the decline of the great values. Tomorrow will open in 7,520 points. Annual losses grow to 12.21%.
All great values fell: BBVA, 1.78%, Iberdrola, 1.52%, Telefonica, 1.49%, Banco Santander, 1.38%, and Repsol, 0.88%.
スペインの財政債務の改善は鈍化し、悪化、2012年08月には債務返済不能に陥る可能性大
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