Martes 22/06/10 Comienza la reunion del Fed, venta de casas

[admin]

S&P advierte a la banca Espaniola que mas constructoras caeran en ese pais, lo cual significara mas perdidas para ese sector.

En un reporte de S&P se mostro que la agencia calificadora incremento los estimados de perdidas a 99.3 billios euros, esta cantidad es mayor en 17.7 billones de euros.

Toda la banca Espaniola a la baja hoy dia.

S&P Warning Hits Spanish Banks

By Christopher Bjork
Shares in Spanish banks traded lower Tuesday after credit rating agency Standard & Poor’s warned that more of the country’s real-estate developers are likely to fail, leading to higher credit losses on lending to the sector.

S&P in a report Monday raised its credit loss assumptions for the banking sector to €99.3 billion between 2009 and 2011, up €17.7 billion from an earlier estimate carried out in September last year. The increase is mainly due to a rise in the agency’s loss assumptions for the banks’ real-estate loan portfolios, as well as more pessimistic forecasts for economic growth in the next few years.

“The drop in housing demand has drained liquidity in the highly leveraged Spanish real-estate sector and affected profitability,” said credit analyst Elena Iparraguirre. “The market has accumulated a large stock of unsold property that will take several years to unwind, in our view, while activity in the sector is still subdued,” she added.

At 0746 GMT, Banco Santander was down 1.6% while BBVA was down 1.2%. The Spanish market was down 0.5%. The smaller Spanish banks were also trading lower.

S&P raised its loan-loss assumption for real-estate exposures to 14.5% for the two year period, up from a previous estimate of 9.6%. And it said it expects real-estate losses to comprise 44% of the system’s total credit losses.

Concern over the health of Spain’s financial system, and particularly of the unlisted savings banks, are among the three biggest concerns investors have regarding the country, along with Spain’s double-digit budget deficit and 20% unemployment rate.

Unlisted and often controlled by regional governments, the so-called “cajas” have borne the brunt of the collapse of Spain’s decade-long construction boom. The Bank of Spain said last week that it would make public results of stress tests on individual banks in the coming weeks, in an effort to dispel market worries about the sector.

[admin]

-33

[admin]

US vende $40 billones de bonos a dos anios hoy dia.

[admin]

-20

[eduforever]

Europe, Africa and Middle East

INDEX VALUE CHANGE % CHANGE TIME
ESTX 50 € Pr 2,731.84 -36.43 -1.32% 07:07
FTSE 100 INDEX 5,216.15 -82.96 -1.57% 07:07
CAC 40 INDEX 3,688.67 -47.48 -1.27% 07:07
DAX INDEX 6,236.73 -56.24 -0.89% 07:07
IBEX 35 INDEX 9,957.40 -114.50 -1.14% 07:07
FTSE MIB INDEX 20,487.02 -323.42 -1.55% 07:07
AEX-Index 337.93 -3.11 -0.91% 07:07
OMX STOCKHOLM 30 INDEX 1,055.88 -4.63 -0.44% 07:22
SWISS MARKET INDEX 6,453.45 -66.12 -1.01% 07:07

More Europe, Africa and Middle East Indexes »

Asia-Pacific

INDEX VALUE CHANGE % CHANGE TIME
NIKKEI 225 10,112.89 -125.12 -1.22% 02:29
HANG SENG INDEX 20,819.08 -93.10 -0.45% 04:01
S&P/ASX 200 INDEX 4,558.30 -54.30 -1.18% 02:35

[admin]

Hoy Martes podemos ver algo brillante en el escenario, el National Association of Realtors anunciaran la venta de casas existentes, se espera que suba algo del 5% en Mayo con respecto a Abril a un ritmo de 6 millones de casas (anualizado)

Este seria el tercer mes de incrementos consecutivos con un alza de ventas alto no visto desde Noviembre.

Todo este entusiasmo fue debido a los creditos otorgados por el gobierno los cuales expiraron el 30 de Abril para la firma de contratos y el 30 de Junio para los cierres de los contratos.

Housing on the Rocks, Make It a Double? By KELLY EVANS

A housing double-dip? More like a long, slow melt.

That is likely to be the takeaway from this week's slew of housing reports. Tuesday could be a bright spot, with the National Association of Realtors expected to say existing-home sales rose some 5% from April to May to an annualized rate of about 6 million units.

That would be the third monthly increase in a row and the highest sales pace since November.

But that is unlikely to cement faith in the housing recovery. Sales have been juiced twice now by the government's home-buyer tax credits, which expired April 30 for contracts and on June 30 for closings.

.Indeed, the Commerce Department on Wednesday is expected to say new-home sales dropped 20% last month, according to economists surveyed by Dow Jones, to an annualized 400,000 units.

That would largely unwind sharp gains recorded in March and April ahead of the contract deadline. Already last week, Commerce said new home construction dropped by 10% last month.

It is far from clear this marks the start of a "double-dip" for the housing market. The hardest-hit segment—new home sales—is a small part of the market, accounting for just 8% of homes sold in April even with the tax credit's lift.

Plus, its weakness should dissuade further building activity—a positive as it should stop inventory of unsold houses swelling even further. And the hit to overall gross domestic product is likely to be small: Residential investment accounts for just 2.4% of GDP.

Meanwhile, the much larger market of existing-home sales should hold up better. For one, existing homes run about 15%-20% cheaper on average than newly built ones. Sales, while likely to slump this summer, should firm toward year-end if the labor market continues its gradual improvement.

And affordability continues to improve: falling prices and historically low mortgage rates have lowered typical monthly payments to about 15% of household income, down from 21% in 2007.

Home prices may well slide further as the market searches for a floor. But a 5% decline, say, over the next year or two isn't exactly a double-dip, and should ultimately support a healthier recovery.

Policy makers shouldn't get in the way.

[admin]

Moody's dice que la banca Espaniola esta mas fuerte de lo que se piensa.

S&P dijo lo contrario.

Oil down 76.85

-13

[admin]

-12

Au 1,237.50 mejorando

Oil down 77.20

[admin]

Los futures del cobre pasan al alza a 2.9655

-3

[admin]

El euro a la baja pero mejorando ahora en 1.2291

[admin]

Los futures del Dow Jones pasan al alza

+2

[admin]

Oil down 77.20

[Edgar]

FRE 10.38%

[eduforever]

Los mercados europeos se encuentran a la baja recortando el rally de nueve días. Asismismo, el
precio de la acción de BNP Paribas, el banco más grande de Francia, cayó en 3.4% luego de que
Fitch ratings recortara la clasificación de crédito de dicha institución bancaria. Además, el precio
de las acciones mineras se encuentran a la baja debido al comportamiento bajista en el precio de
los metales base.

[eduforever]

Los índices futuros sobre acciones en los Estados Unidos con vencimiento en junio se encuentran
ligeramente al alza, a pesar de la sobre estimación de ganancias dada una recuperación en el
panorama económico mundial. Asimismo, el precio de las acciones de empresas como Newmont
mining Corp.y Freeport-McMoRan Copper & Gold Inc. cayeron siguiendo el comportamiento
negativo de los metales base.

son comentario de Kallpa.