http://elpais.com
スペインの財務省は、20億7500万0000ユーロの国債を発行、10年国債は金利が5'85%ー6'121%で6億1100万0000ユーロ、2年半国債は金利が3'30%ー4'483%で6億3800万0000ユーロ、4年半国債は金利が4'25%ー5'443%で8億2500万0000ユーロ
El Tesoro supera el objetivo de la subasta tras pagar el interés más alto del año
El instituto emisor acusa el repunte de las tensiones aunque aumenta la demanda
Coloca un total de 2.075 millones frente a una previsión máxima de 2.000 millones
A. MARS / Á. ROMERO Madrid7 JUN 2012 - 00:05 CET
The Treasury beyond the scope of the auction after paying the higher interest of the year
The central bank feels the surge of tension while increasing the demand
Place a total of 2,075 million compared to an expected maximum of 2,000 million
A. MARS / Á. ROMERO Madrid 7 JUN 2012 - 00:05 CET
The central bank feels the surge of tension while increasing the demand
Place a total of 2,075 million compared to an expected maximum of 2,000 million
A. MARS / Á. ROMERO Madrid 7 JUN 2012 - 00:05 CET
The Treasury auction has closed the above objectives by placing 2.075 million euros with three different types of bonds against an expected range that went from 1,000 to 2,000 million, which would in any case it was an attainable goal. However, the Central Bank has accused the rise of tensions in the markets that have led to doubts about Bankia and recapitalization of the banking sector and uncertainty about Greece, as it has been forced to commit the highest rate in So far this year for their 10-year bonds.
It has also risen sharply the profitability that investors demand to bet your money on the titles to three and four years as, with respect to demand, has increased the appetite for the role of the state, indicating that, although at great cost, Spain still has the confidence of the market. Overall, demand has exceeded supply by 3.2 times, although for shorter-term securities has reached four times the number of titles sold.
The central bank has sold 611 million in securities maturing on January 31, 2022 coupon of 5.85%. For this, the Treasury has committed a marginal interest rate (the last before closing the auction) of 6.121%, 5.778% over the last operation with the same type of bonds in April and the highest level of the year. However, despite the rise, has fallen short of the 7.088% that was forced to offer in November, before the ECB interveniese with open bar for banking liquidity that led to a significant improvement in debt markets.
The effects of this storm of cheap money, in any case have been diluted over the past two months as increasing doubts about Spain, its banks and the debt crisis. This deterioration of the conditions to finance has also clearly been felt in the other two types of bonds auctioned. With titles due in October 2014 and 3.30% nominal interest were awarded 638 million to a marginal rate of 4.483% versus 3.52% from the previous auction in April, the only made so far 2012 with the same type of bond. Finally, it has sold 825 million titles to return in October 2016 and a coupon of 4.25%. Its profitability has risen by more than one percentage point to 5.443%, also the highest of the year.
more informationBag up and relaxes the premium to the Treasury auctionGermany presents a mild rescue of Spain through the FROBThe Government will wait for the audit before deciding on bank rescue
The Ministry of Economy stressed that the increase in interest has been located in the middle range to which these same securities traded in the secondary market during the last days, so they argue that "the Treasury has not been forced to pay an extra cost. "
The result of the operation has not changed the way financial markets, which are improved by extending the previous days. In the stock, the Spanish Ibex 35 has reached 1.6% advance yesterday after trailing by 2.41%. Meanwhile, in debt, the risk premium has fallen to 472 basis points (4.72 percentage points), 22 less than yesterday. The differential with the bonus of Germany (the most reliable of euro), which is the risk premium, and fell on the eve on another 15 basis points and fell below 500 for the first time since May 25.
The improvement is due to the expectation that the solution to the financial crisis in Spain begins to take shape, after learning of the disposition of Germany to soften the conditions to rescue Spain through the Bank Restructuring Fund (FROB).
Before the revival of the turmoil, the Treasury has decided to put the brakes on hopes of better times, ie that markets will require less money and appeals to "a strategy of prudence" in the upcoming bond issues. "Prudence" in this chapter of the crisis, means that the body prefers auctions with a small amount as long as moderate interest payable. Within this trend, the maximum of 2,000 millions who aspired Thursday the agency under the Ministry of Economy was the lowest of all issues since the outbreak of the debt crisis in 2010.
As acknowledged on Tuesday the finance minister, Cristobal Montoro, with the risk premium on top on 500 points, Spain is very difficult access to market financing.
Despite the difficulties, the economy minister, Luis de Guindos, was confident yesterday that would meet the objectives of the auction, as this has happened. He also noted that the State "is well financed." In fact, by far, the Treasury is in no hurry and grab your mattress as has already placed 58% of the amount of debt in the medium and long term (ie, excluding the letters) planned for this year. As a result, is ahead on the calendar. Ahead are more than 80,000 million to repay debt until the end of the year, with two important deadlines, 18,625,000 in June and 27,365 in October.
From Brussels, the European Commission (EC) predicted in the same line as Guindos that "the Spanish State funding is secured," but asked the government "perseverance" in their efforts to restore "confidence" of markets and reforms consolidation of the banking sector.
"Developments in the debt market tensions reflect the origin of which is not located only in Spain but are due to various uncertainties: the fragility of the financial system, developments in other euro zone members and a mild recession macroeconomic context in Europe ", said Wednesday the economic spokesman of the EC, Amadeu Altafaj.
It has also risen sharply the profitability that investors demand to bet your money on the titles to three and four years as, with respect to demand, has increased the appetite for the role of the state, indicating that, although at great cost, Spain still has the confidence of the market. Overall, demand has exceeded supply by 3.2 times, although for shorter-term securities has reached four times the number of titles sold.
The central bank has sold 611 million in securities maturing on January 31, 2022 coupon of 5.85%. For this, the Treasury has committed a marginal interest rate (the last before closing the auction) of 6.121%, 5.778% over the last operation with the same type of bonds in April and the highest level of the year. However, despite the rise, has fallen short of the 7.088% that was forced to offer in November, before the ECB interveniese with open bar for banking liquidity that led to a significant improvement in debt markets.
The effects of this storm of cheap money, in any case have been diluted over the past two months as increasing doubts about Spain, its banks and the debt crisis. This deterioration of the conditions to finance has also clearly been felt in the other two types of bonds auctioned. With titles due in October 2014 and 3.30% nominal interest were awarded 638 million to a marginal rate of 4.483% versus 3.52% from the previous auction in April, the only made so far 2012 with the same type of bond. Finally, it has sold 825 million titles to return in October 2016 and a coupon of 4.25%. Its profitability has risen by more than one percentage point to 5.443%, also the highest of the year.
more informationBag up and relaxes the premium to the Treasury auctionGermany presents a mild rescue of Spain through the FROBThe Government will wait for the audit before deciding on bank rescue
The Ministry of Economy stressed that the increase in interest has been located in the middle range to which these same securities traded in the secondary market during the last days, so they argue that "the Treasury has not been forced to pay an extra cost. "
The result of the operation has not changed the way financial markets, which are improved by extending the previous days. In the stock, the Spanish Ibex 35 has reached 1.6% advance yesterday after trailing by 2.41%. Meanwhile, in debt, the risk premium has fallen to 472 basis points (4.72 percentage points), 22 less than yesterday. The differential with the bonus of Germany (the most reliable of euro), which is the risk premium, and fell on the eve on another 15 basis points and fell below 500 for the first time since May 25.
The improvement is due to the expectation that the solution to the financial crisis in Spain begins to take shape, after learning of the disposition of Germany to soften the conditions to rescue Spain through the Bank Restructuring Fund (FROB).
Before the revival of the turmoil, the Treasury has decided to put the brakes on hopes of better times, ie that markets will require less money and appeals to "a strategy of prudence" in the upcoming bond issues. "Prudence" in this chapter of the crisis, means that the body prefers auctions with a small amount as long as moderate interest payable. Within this trend, the maximum of 2,000 millions who aspired Thursday the agency under the Ministry of Economy was the lowest of all issues since the outbreak of the debt crisis in 2010.
As acknowledged on Tuesday the finance minister, Cristobal Montoro, with the risk premium on top on 500 points, Spain is very difficult access to market financing.
Despite the difficulties, the economy minister, Luis de Guindos, was confident yesterday that would meet the objectives of the auction, as this has happened. He also noted that the State "is well financed." In fact, by far, the Treasury is in no hurry and grab your mattress as has already placed 58% of the amount of debt in the medium and long term (ie, excluding the letters) planned for this year. As a result, is ahead on the calendar. Ahead are more than 80,000 million to repay debt until the end of the year, with two important deadlines, 18,625,000 in June and 27,365 in October.
From Brussels, the European Commission (EC) predicted in the same line as Guindos that "the Spanish State funding is secured," but asked the government "perseverance" in their efforts to restore "confidence" of markets and reforms consolidation of the banking sector.
"Developments in the debt market tensions reflect the origin of which is not located only in Spain but are due to various uncertainties: the fragility of the financial system, developments in other euro zone members and a mild recession macroeconomic context in Europe ", said Wednesday the economic spokesman of the EC, Amadeu Altafaj.
スペインの財務省は、20億7500万0000ユーロの国債を発行、10年国債は金利が5'85%ー6'121%で6億1100万0000ユーロ、2年半国債は金利が3'30%ー4'483%で6億3800万0000ユーロ、4年半国債は金利が4'25%ー5'443%で8億2500万0000ユーロ
0 件のコメント:
コメントを投稿