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INVERSIÓN EXTRANJERA
La huida del capital extranjero de la deuda española se acelera
El peso de los inversores internacionales en la deuda del Estado baja a su mínimo desde 2003
La balanza de pagos muestra también la fuerte salida de fondos españoles y extranjeros
FOREIGN INVESTMENT
The flight of foreign capital of Spanish debt is accelerated
The weight of international investors in government debt drops to its lowest since 2003
The balance of payments also shows the strong outflow of Spanish and foreign funds
The yield on the benchmark 10-year is not sustainable, as the largest fixed income manager
Amanda Madrid Mars 30 ABR 2012 - 13:10 CET
The flight of foreign capital of Spanish debt is accelerated
The weight of international investors in government debt drops to its lowest since 2003
The balance of payments also shows the strong outflow of Spanish and foreign funds
The yield on the benchmark 10-year is not sustainable, as the largest fixed income manager
Amanda Madrid Mars 30 ABR 2012 - 13:10 CET
Spain trading lower on the international market. Its public debt and foreign fans lose is increasingly concentrated in local hands, a level not known since 2003. The outstanding amount of foreign investment in government bonds has fallen by 61.393 million euros in the first quarter, almost 22%, from the closure 281 439 000 2011 to 219,601,000 in March, according to data published Bank of Spain.
Thus, the participation of foreign capital in the national debt has shrunk 13 percentage points in just three months: if in December was 50.48% of the total, ended the quarter at 37.54%. One must go back to 2003 to find a lower weight (36.39%).
The gloomy economic outlook in Spain (in its second recession in three years and an unemployment rate of 24%) and aroused suspicions among investors its financial system awash in toxic real estate assets, causing the abandonment of the money held abroad.
Capital flight worsened in the months of February and March, which actually concentrate most of the loss of investment. Between January and March, the outstanding government debt held by nonresident sank 49,826,000, up 18%.
Between late 2011 and early this year, the credit auctions cheap European Central Bank a billion euros to a 1% interest, have helped Spanish banks to invest in bonds, but several banks last week disassociated his commitment to the Spanish titles of these manguerazos liquidity. Now, the effect of the open bar of cheap money has been diluted, but the Treasury has already covered more than half of the debt issues planned for this 2012.
Balance of payments
Data from the February balance of payments published today by the Bank of Spain also show the intensity of capital outflows not only public debt, but also other assets in the portfolio and other investments.
The total balance of February shows a total output of 25.548 million financial account excluding the operations of the Bank of Spain. This is the fourth highest monthly figure, second only to data for May and June 2010 and by December of last year, three months were exceeded 30,000 million.
In portfolio investment, capital outflow was 6.061 million in February, of which 3.883 million were reduced foreign investments in Spain and 2.177 million increase in Spanish investment abroad. Where it is most appreciated was out in the chapter on other investments (principally loans, deposits and repos), which drew 13,460 million foreigners, but also Spanish investors increased their investment abroad at 11.349 million.
Thus, investments in the Spanish capital flight was more than 13,500 million, while foreign investors was 17,340 million. That flight of over 30,000 million only partially offset by increased direct investment (2,505 million) and net position in financial derivatives (2817000). The final balance of the month is negative 25.548 million for Spain.
Thus, the participation of foreign capital in the national debt has shrunk 13 percentage points in just three months: if in December was 50.48% of the total, ended the quarter at 37.54%. One must go back to 2003 to find a lower weight (36.39%).
The gloomy economic outlook in Spain (in its second recession in three years and an unemployment rate of 24%) and aroused suspicions among investors its financial system awash in toxic real estate assets, causing the abandonment of the money held abroad.
Capital flight worsened in the months of February and March, which actually concentrate most of the loss of investment. Between January and March, the outstanding government debt held by nonresident sank 49,826,000, up 18%.
Between late 2011 and early this year, the credit auctions cheap European Central Bank a billion euros to a 1% interest, have helped Spanish banks to invest in bonds, but several banks last week disassociated his commitment to the Spanish titles of these manguerazos liquidity. Now, the effect of the open bar of cheap money has been diluted, but the Treasury has already covered more than half of the debt issues planned for this 2012.
Balance of payments
Data from the February balance of payments published today by the Bank of Spain also show the intensity of capital outflows not only public debt, but also other assets in the portfolio and other investments.
The total balance of February shows a total output of 25.548 million financial account excluding the operations of the Bank of Spain. This is the fourth highest monthly figure, second only to data for May and June 2010 and by December of last year, three months were exceeded 30,000 million.
In portfolio investment, capital outflow was 6.061 million in February, of which 3.883 million were reduced foreign investments in Spain and 2.177 million increase in Spanish investment abroad. Where it is most appreciated was out in the chapter on other investments (principally loans, deposits and repos), which drew 13,460 million foreigners, but also Spanish investors increased their investment abroad at 11.349 million.
Thus, investments in the Spanish capital flight was more than 13,500 million, while foreign investors was 17,340 million. That flight of over 30,000 million only partially offset by increased direct investment (2,505 million) and net position in financial derivatives (2817000). The final balance of the month is negative 25.548 million for Spain.
外国投資
スペインの債務の外国資本の逃避が加速される
政府債務残高の国際投資家の重量は、2003年以来最低に低下し
国際収支にもスペイン国籍および外国籍ファンドの強力な流出を示しています。
ベンチマーク10年利回りは最大の債券マネージャーとして、持続可能ではない
アマンダマドリッド火星30 ABR 2012 - 13:10 CET
スペインの債務の外国資本の逃避が加速される
政府債務残高の国際投資家の重量は、2003年以来最低に低下し
国際収支にもスペイン国籍および外国籍ファンドの強力な流出を示しています。
ベンチマーク10年利回りは最大の債券マネージャーとして、持続可能ではない
アマンダマドリッド火星30 ABR 2012 - 13:10 CET
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