スペインの株式市場は0'37%減少し、スペインの銀行救済が間近いことから、スペインの10年国債の金利は今日の最高+524の6'558%から、+508の6'463%に落ち着く
La proximidad del rescate bancario relaja la prima hasta 508 puntos al cierre
El tipo del bono a 10 años cede hasta el 6,4%. El Ibex cierre con un retroceso del 0,37%, hasta 7.306 puntos
Evolución en tiempo real de los principales mercados
Isabel Lafont Madrid 29 AGO 2012 - 18:51 CET
The proximity of the bank bailout relaxes the premium up 508 points at close
The rate of the 10-year bond yield to 6.4%. The Dow closed with a drop of 0.37% to 7306 points
Real-time evolution of the main markets
Lafont Isabel Madrid 29 AGO 2012 - 18:51 CET
The execution ever closer bailout that Europe has committed to clean up the Spanish financial system has eased pressure afternoon in the sovereign debt market. At the beginning of the day, investors' doubts about the solvency of Spain were accentuated after yesterday, Catalonia, the most indebted community, recognize that need 5,023,000 euros of liquidity fund that the central government has provided 18,000 million to meet the needs of autonomy in trouble. The Community Valencia and Murcia have already declared their intention to apply for 3000 and 300 million, respectively. For now, there is no official date for the entry into force of the fund.
The risk premium, excess return in the secondary market are required to Spanish 10-year bonds over German equivalents (which are considered risk-free investment) has once again overcome in opening the 520 basis points (5.2 percentage points which must be added at the rate of German bond that period), after closing yesterday at 513, and scored a maximum of 524 points. This measure of sovereign risk, proximity to a suspension of payments received by investors, stopped Aug. 20 that kept falling since early this month. Today, the type of 10-year bonds has reached the 6.558% at the open, after closing yesterday at 6.478%. At the end of the day, the premium stood at 508 points and the 6.463% rate.
The Italian spread has climbed to 456 points before the auction of letters to six months, in which the Italian Treasury has placed 9,000 million euros at an interest rate of 1.591% marginal, less than the 2.469% obtained in the previous auction. The issue has been held the day that the Italian Prime Minister, Mario Monti, has met with German Chancellor Angela Merkel in Berlin.
The German president has applauded the adjustments undertaken by the Italian Government. After describing the reforms as "impressive", has expressed his belief that the fruits of the same "will arrive" and cited as an example the reduction in profitability of the letters on the issue today. The Italian risk premium ceded to the end of the day up 438 points.
The Exchange has maintained all day moderate losses. The Dow has recorded a slight rise in the opening that soon was becoming lost and at the close of trading, has been placed in points in 7306, with a decline of 0.37%. Bankia (16.15%) is the value that has scored higher profits, at the approach of the first tranche of the bank bailout, 30,000 million euros of the 100,000 pledged by Europe, which will go to the entity. Followers Sabadell (+2,38%) and Amadeus (+2,12%). Gamesa (-2.33%), ArcelorMittal (-2.02%) and Mediaset (-1.94%) leading the losses. Outside the Dow, another these banks, Bank of Montreal, today registered a rise of 22.86%.
The main European markets have kept trimmed losses during the morning after learning of the data revision of U.S. GDP growth, in the second quarter was 1.7%, up from 1.5% initially estimated by the Department Trade .. In the first three months of the year, the world's largest economy grew by 2%.
The indecision of the equity markets is also explained by the expectations raised at the annual meeting of central bankers from around the world that will take place next weekend in Jackson Hole (U.S. city located in the state of Wyoming). On Friday it planned intervention Federal Reserve Chairman, Ben Bernanke, and his speech will be analyzed for clues about upcoming monetary stimulus. All analysts expect a new program of bond purchases (quantitative easing, or quantitative easing), which would be the third to be launched in the United States since 2008.
Purchases of debt securities are the tool used by the central banks when the reference rates are so low that they leave room to inject liquidity into the financial system (procurement frees up resources that theoretically can be allocated to institutions granting loans to companies and households and thus stimulate activity). The federal funds rate remains between 0% and 0.25% since December 2008.
The slowdown in China also provide a fresh injection of liquidity by the central bank of the world's second largest economy. The growth of retail sales in July was lower than expected, exports almost stagnated in the same month and the benefit of industrial enterprises posted its biggest drop of the year.
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