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スペインの株式市場は、スペインの銀行救済への疑問から、3'67%下落、スペイン10年国債の金利は6'606%(517)に,2012年6月25日CET;17:39、(JST;2012/06/26、00:39)
La Bolsa cae un 3,67% al cierre por las dudas sobre el rescate bancario
El Ibex termina en 6.624 puntos tras anotarse su segunda mayor caída del año
La prima de riesgo llega a 517 puntos a la espera de una nueva rebaja del 'rating' de los bancos
El tipo a 10 años avanza hasta el 6,6%
The stock fell 3.67% to close because of doubts about the bank bailout
The Dow finished at 6,624 points after scoring their second largest fall of the year
The risk premium reaches 517 points pending a further reduction of the 'rating' of banks
The type to 10 years advances to 6.6%
Market trends in real time
Lafont Isabel Madrid 25 JUN 2012 - 17:39 CET
The Dow finished at 6,624 points after scoring their second largest fall of the year
The risk premium reaches 517 points pending a further reduction of the 'rating' of banks
The type to 10 years advances to 6.6%
Market trends in real time
Lafont Isabel Madrid 25 JUN 2012 - 17:39 CET
Markets live a day in retreat, after finishing last week with the push of the first evaluation to the Spanish financial system and that amounts to 62,000 million euros the capital requirements of the sector in an adverse scenario, as evidenced by the resistance test conducted by the consultants Roland Berger and Oliver Wyman.
The Dow logged a 0.49% decline in the afternoon has expanded, especially after learning that tonight the credit rating agency Moody's announced a downgrade of Spanish banks. It is a consequence of the degradation of three steps applied to the Spanish public debt on 13 June, when the rating agency left the solvency of Spain to the brink of junk bond: A3 to Baa3.
Shortly after the fall of the Dow 15.30 reached to 3.99%, which was placed in a daily low of 6612.3 points.
The risk premium (excess return that investors demand for Spanish debt to 10 years in the secondary market compared to Germany), which last week posted the biggest drop of the year and ended on Friday at 479 basis points today has picked up over 500 points to touch the 514 (5.14 percentage points). The rate of the 10-year bond, which started the day at 6.38%, has climbed to 6.606%.
All European shares fall, looking at the summit of Heads of State and Government of two days starting on Thursday. London was down 1% to the 15.50, or 2.24% Paris, Frankfurt and Milan 1.86% to 3.2%.
Spain will face again in the debt market with the auction of letters to three and six months scheduled for tomorrow. Italy will also seeking funding through the issuance of inflation-linked securities with maturities in 2016 and 2026 and 3,000 million in zero coupon bonds (issued below their nominal value and this is charged on the due date with the corresponding gain).
Overcome the euphoria of Friday, explained in part because the amount quoted by the consultants is less than 100,000 million euros that Europe is willing to pay to Spain to clean up their banks, today the focus is on the details of that operation. The lack of concrete evidence put back on the obstacle course that has yet to be saved and uncertainty is not clear today with the letter you have directed the Minister of Economy, Luis de Guindos, his colleagues in the Eurogroup (Ministers of Finance and Economy countries in the eurozone). That letter, which made official the loan request is the first of a negotiation process that presumably will close on July 9, the day he was scheduled to be ready and rescue the memorandum is approved at the meeting of the Eurogroup that day.
That document set out the amount of the loan, repayment period, are expected about 156 years and interest rate-is expected between 3% and 4% - and, importantly, through what European fund will be channeled help. Doing the European Financial Stability Fund (EFSF) created a temporary basis in 2010 and will expire next year, would not have priority in the return to other creditors with debt. If the lender is the European Stability Mechanism (MEDE), the fund to support countries with financial problems will be launched in early July, this really would be a preferred creditor. It might be possible, if not implemented adequate safeguards that the market accentuated his escape from the debt already outstanding, which would be a disadvantage.
Other observers downplay the latter point and remember that in the last rescue of Greece was channeled through the EFSF and although it had no preferred creditor status, this was no obstacle to force a rebate of 50% in sovereign debt private hands.
The Dow logged a 0.49% decline in the afternoon has expanded, especially after learning that tonight the credit rating agency Moody's announced a downgrade of Spanish banks. It is a consequence of the degradation of three steps applied to the Spanish public debt on 13 June, when the rating agency left the solvency of Spain to the brink of junk bond: A3 to Baa3.
Shortly after the fall of the Dow 15.30 reached to 3.99%, which was placed in a daily low of 6612.3 points.
The risk premium (excess return that investors demand for Spanish debt to 10 years in the secondary market compared to Germany), which last week posted the biggest drop of the year and ended on Friday at 479 basis points today has picked up over 500 points to touch the 514 (5.14 percentage points). The rate of the 10-year bond, which started the day at 6.38%, has climbed to 6.606%.
All European shares fall, looking at the summit of Heads of State and Government of two days starting on Thursday. London was down 1% to the 15.50, or 2.24% Paris, Frankfurt and Milan 1.86% to 3.2%.
Spain will face again in the debt market with the auction of letters to three and six months scheduled for tomorrow. Italy will also seeking funding through the issuance of inflation-linked securities with maturities in 2016 and 2026 and 3,000 million in zero coupon bonds (issued below their nominal value and this is charged on the due date with the corresponding gain).
Overcome the euphoria of Friday, explained in part because the amount quoted by the consultants is less than 100,000 million euros that Europe is willing to pay to Spain to clean up their banks, today the focus is on the details of that operation. The lack of concrete evidence put back on the obstacle course that has yet to be saved and uncertainty is not clear today with the letter you have directed the Minister of Economy, Luis de Guindos, his colleagues in the Eurogroup (Ministers of Finance and Economy countries in the eurozone). That letter, which made official the loan request is the first of a negotiation process that presumably will close on July 9, the day he was scheduled to be ready and rescue the memorandum is approved at the meeting of the Eurogroup that day.
That document set out the amount of the loan, repayment period, are expected about 156 years and interest rate-is expected between 3% and 4% - and, importantly, through what European fund will be channeled help. Doing the European Financial Stability Fund (EFSF) created a temporary basis in 2010 and will expire next year, would not have priority in the return to other creditors with debt. If the lender is the European Stability Mechanism (MEDE), the fund to support countries with financial problems will be launched in early July, this really would be a preferred creditor. It might be possible, if not implemented adequate safeguards that the market accentuated his escape from the debt already outstanding, which would be a disadvantage.
Other observers downplay the latter point and remember that in the last rescue of Greece was channeled through the EFSF and although it had no preferred creditor status, this was no obstacle to force a rebate of 50% in sovereign debt private hands.
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