the bond holder
Τις δυο τελευταίες εβδομάδες τα spread έχουν σχεδόν διπλασιαστεί.
Τι ξέρει η αγορά που δεν ξέρουμε εμείς;
Είναι πολύ παράξενο τις ημέρες που έρχονται τα χειρότερα μετρά για τους εργαζόμενους να ανεβαίνουν τα spread. Σε τριάντα χρόνια καριέρας πρώτη φορά το βλέπω.
Εκτός εάν οι αγορές πιστεύουν ότι
τα μετρά δεν θα ψηφιστούν και θα πέσει η κυβέρνηση ( στου Θεού τ’ αυτι)
Έρχεται σύρραξη με την Τουρκία (πολύ τραβηγμένο)
Δεν θα πάρουμε την δεύτερη δόση (λίγο τραβηγμένο)
Κτλ
Σίγουρα κάτι σημαντικό γίνετε πίσω από την πλάτη μας και αυτοί μας ταΐζουν μπούρδες (όπως αυτή που λένε ότι μονό μ’ αυτή την κυβέρνηση θα έχουμε το δάνειο- λες και το μνημόνιο το υπέγραψε η κυβέρνηση και όχι το κράτος).
Πάντως εγώ περιμένω κάτι συνταρακτικό τις επόμενες τρεις με τέσσερεις εβδομάδες. Η είναι θέμα βλακείας λόγω της απόφασης (εγκληματική) να βγούν στην αγορά τον Ιούλιο
What’s with the T-bills, Greece?
Posted by Joseph Cotterill on Jun 28 17:38.
Greece may be a month into its bailout — but its government revealed on Monday that it will still go to the market to honour some obligations. As Reuters reports:
“Greece will go to the markets mid-July, issuing T-bills of three, six and twelve months,” Deputy Finance Minister Philippos Sachinidis told Reuters. Greek officials have previously said the country may go ahead with a T-bill auction in July but Sachinidis’ comments confirmed those plans.
The issuance will roll over bills which are maturing that month. One analyst doubts the wisdom of using the market to do this, however:
“It could prove in the end to be a good idea but it could also end in disaster,” Carsten Luedemann, fixed-income strategist at DekaBank, said.
“If they don’t find any bids at all or only at ridiculous levels this would prove finally that Greece is not able to go to the markets, this would be a disaster for Greece.”
Well, Goldman Sachs’ chief European economist Erik Nielsen has blown a circuit:
Since the IMF-EU package is fully funded (i.e. no need for commercial borrowing) through 2011, and the numbers [on Greek austerity measures] are coming in somewhat better than expected, there should be no need for this borrowing – so why are they doing it? Could it be that they are responding to demand from banks and other investors who have started to appreciated that a debt restructuring [in] the next 12 months is very unlikely and therefore looking for high-yielding assets? If so, this would be a mis-guided move, in my opinion, and – frankly – I hope the IMF and EU would tell them to back off.
Although actually, you could just as well argue things the other way around. Investors might simply be keen to pick up assets which will be safe during a Greek restructuring of longer-term debt, or which will have safely matured before that event.
For example, Greece’s debt-to-GDP peaks in 2013; or reliance on debt markets will actually increase after the bailout, in 2014 to 2015, amid a wave of repayments.
In which case, there’ d be doubly no point testing the market this time around.
Γιατί το κάνουν αυτό; Μια εξήγηση κάποιος;