Plosser del Fed dice que US esta preparada para la caida de Europa.
ECONOMY Updated May 28, 2012, 9:41 a.m. ET
U.S. Ready for Europe Fallout, Says Fed Official
By BRIAN BLACKSTONE
ELTVILLE, Germany—The U.S. Federal Reserve is well equipped to deal with any fallout from Europe's escalating debt crisis, a top official said.
"There's absolutely no reason for people in the United States to get all in a dither," Federal Reserve Bank of Philadelphia President Charles Plosser said in an interview with The Wall Street Journal.
Charles Plosser, president of the Federal Reserve Bank of Philadelphia.
Federal Reserve Bank of Philadelphia President Charles Plosser on risks to the U.S. from the Greek crisis, the Fed's tools to contain any fallout and the central bank's evolving communications strategy.
Q&A: Philadelphia Fed Chief Charles Plosser
Mr. Plosser said that in the short run, uncertainty in Europe might even work in the U.S. economy's favor, via lower U.S. interest rates and energy prices.
Worries over Greece could lead to more global investment funds being parked in the U.S., boosting liquidity, Mr. Plosser said in an interview in Eltville, in the wine-growing region near Frankfurt, where he was attending a conference sponsored by the German Bundesbank.
He said it was "not an unreasonable argument" that lower U.S. borrowing costs and falling gasoline prices in response to the European crisis could, in the near term, outweigh the drag on the U.S. economy from lower stock-market values.
For the Fed, the challenge is how to extract signals for the U.S. on interest rates from financial markets that are increasingly dominated by events in Europe, Mr. Plosser said.
"You get a good labor number, you get a good industrial production number, but if you have bad news from Europe it's completely swamped," he said.
"I think that Europe is just throwing a lot of noise into the system right now," he said. "It makes reading the tea leaves particularly difficult right now."
The main danger for the U.S., he said, is that concerns over European banks could potentially lead to more restrictive financial-market funding for U.S. banks as well, "just because everybody's scared."
However, with U.S. financial institutions already cutting their European exposure, Mr. Plosser said he isn't too worried about that risk. A "flood of liquidity" into the U.S. as investors seek safer assets is more likely "than the drying up of liquidity," he said.
Mr. Plosser said the Fed has tools to deal with any contagion from Europe, including the existing U.S. dollar-funding lines with the European Central Bank as well as longer-term loans through the Fed's discount window and Lehman-era programs such as the Term Auction Facility.
"I think we have the tools at our disposal if they become necessary," he said.
Despite the uncertainty emanating from Europe, Mr. Plosser expects U.S. gross domestic product to expand by 2.5% to 3% this year and next, and the unemployment rate to drift gradually lower. Against that backdrop, central-bank interest rates would need to rise, he said.
"As long as that's continuing, then I don't see the case for [an] ever-increasing degree of accommodation," he said.
Mr. Plosser is considered one of the Fed's most strident inflation fighters. Still, even with annual consumer-price growth above the central bank's 2% target, he doesn't see inflation as a short-term risk, noting that lower energy prices should bring the rate down. The risk he sees is longer term.
"We have $1.5 trillion in excess reserves. Inflation is going to occur when those excess reserves start flowing" into the economy, he said.
"The challenge for the Fed is will we act quickly enough or aggressively enough to prevent that from happening," he said. The central bank could also come under political pressure if it is forced to sell some of its portfolio of mortgage-backed securities, he said.
Mr. Plosser is a member of a Fed working group tasked with improving the central bank's communications with financial markets and the public. As part of that effort, the Fed has started releasing individual forecasts for interest rates, and publishes a date—currently late 2014—for how long they expect them to remain at their current level near zero.
Mr. Plosser, who opposes setting a specific time frame for policy, warned against putting too much emphasis on specific interest-rate assumptions, calling them "inputs" into the Fed's deliberations.
"I'd rather get rid of the calendar date and talk more about economic conditions and how our decision on how to change the funds rate is going to be more a function of the economy than some calendar date," he said.
He said he opposes extending a $400 billion Fed program launched last year, called "Operation Twist," which involves selling short-term Treasury securities and using the proceeds to buy long-term bonds.
"I don't see where it's had any impact. I see no reason to extend it," he said.
Write to Brian Blackstone at brian.blackstone@dowjones.com
Viernes 26/05/12 Sentimiento del consumidor
Re: Viernes 26/05/12 Sentimiento del consumidor
por admin » Lun May 28, 2012 8:49 am
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Re: Viernes 26/05/12 Sentimiento del consumidor
por admin » Lun May 28, 2012 8:55 am
Plosser dice ue UsS esta preparada para la caida de Europa. Dijo que la crisis en Europa beneficiaba a US que man tiene intereses bajos y tambien por el costo de energia. Ademas atrae capital a US lo que proporciona mas liquidez.
ECONOMY Updated May 28, 2012, 9:41 a.m. ET
U.S. Ready for Europe Fallout, Says Fed Official
By BRIAN BLACKSTONE
ELTVILLE, Germany—The U.S. Federal Reserve is well equipped to deal with any fallout from Europe's escalating debt crisis, a top official said.
"There's absolutely no reason for people in the United States to get all in a dither," Federal Reserve Bank of Philadelphia President Charles Plosser said in an interview with The Wall Street Journal
ws
Charles Plosser, president of the Federal Reserve Bank of Philadelphia.
Federal Reserve Bank of Philadelphia President Charles Plosser on risks to the U.S. from the Greek crisis, the Fed's tools to contain any fallout and the central bank's evolving communications strategy.
Q&A: Philadelphia Fed Chief Charles Plosser
Mr. Plosser said that in the short run, uncertainty in Europe might even work in the U.S. economy's favor, via lower U.S. interest rates and energy prices.
Worries over Greece could lead to more global investment funds being parked in the U.S., boosting liquidity, Mr. Plosser said in an interview in Eltville, in the wine-growing region near Frankfurt, where he was attending a conference sponsored by the German Bundesbank.
He said it was "not an unreasonable argument" that lower U.S. borrowing costs and falling gasoline prices in response to the European crisis could, in the near term, outweigh the drag on the U.S. economy from lower stock-market values.
For the Fed, the challenge is how to extract signals for the U.S. on interest rates from financial markets that are increasingly dominated by events in Europe, Mr. Plosser said.
"You get a good labor number, you get a good industrial production number, but if you have bad news from Europe it's completely swamped," he said.
"I think that Europe is just throwing a lot of noise into the system right now," he said. "It makes reading the tea leaves particularly difficult right now."
The main danger for the U.S., he said, is that concerns over European banks could potentially lead to more restrictive financial-market funding for U.S. banks as well, "just because everybody's scared."
However, with U.S. financial institutions already cutting their European exposure, Mr. Plosser said he isn't too worried about that risk. A "flood of liquidity" into the U.S. as investors seek safer assets is more likely "than the drying up of liquidity," he said.
Mr. Plosser said the Fed has tools to deal with any contagion from Europe, including the existing U.S. dollar-funding lines with the European Central Bank as well as longer-term loans through the Fed's discount window and Lehman-era programs such as the Term Auction Facility.
"I think we have the tools at our disposal if they become necessary," he said.
Despite the uncertainty emanating from Europe, Mr. Plosser expects U.S. gross domestic product to expand by 2.5% to 3% this year and next, and the unemployment rate to drift gradually lower. Against that backdrop, central-bank interest rates would need to rise, he said.
"As long as that's continuing, then I don't see the case for [an] ever-increasing degree of accommodation," he said.
Mr. Plosser is considered one of the Fed's most strident inflation fighters. Still, even with annual consumer-price growth above the central bank's 2% target, he doesn't see inflation as a short-term risk, noting that lower energy prices should bring the rate down. The risk he sees is longer term.
"We have $1.5 trillion in excess reserves. Inflation is going to occur when those excess reserves start flowing" into the economy, he said.
"The challenge for the Fed is will we act quickly enough or aggressively enough to prevent that from happening," he said. The central bank could also come under political pressure if it is forced to sell some of its portfolio of mortgage-backed securities, he said.
Mr. Plosser is a member of a Fed working group tasked with improving the central bank's communications with financial markets and the public. As part of that effort, the Fed has started releasing individual forecasts for interest rates, and publishes a date—currently late 2014—for how long they expect them to remain at their current level near zero.
Mr. Plosser, who opposes setting a specific time frame for policy, warned against putting too much emphasis on specific interest-rate assumptions, calling them "inputs" into the Fed's deliberations.
"I'd rather get rid of the calendar date and talk more about economic conditions and how our decision on how to change the funds rate is going to be more a function of the economy than some calendar date," he said.
He said he opposes extending a $400 billion Fed program launched last year, called "Operation Twist," which involves selling short-term Treasury securities and using the proceeds to buy long-term bonds.
"I don't see where it's had any impact. I see no reason to extend it," he said.
Write to Brian Blackstone at brian.blackstone@dowjones.com
ECONOMY Updated May 28, 2012, 9:41 a.m. ET
U.S. Ready for Europe Fallout, Says Fed Official
By BRIAN BLACKSTONE
ELTVILLE, Germany—The U.S. Federal Reserve is well equipped to deal with any fallout from Europe's escalating debt crisis, a top official said.
"There's absolutely no reason for people in the United States to get all in a dither," Federal Reserve Bank of Philadelphia President Charles Plosser said in an interview with The Wall Street Journal
ws
Charles Plosser, president of the Federal Reserve Bank of Philadelphia.
Federal Reserve Bank of Philadelphia President Charles Plosser on risks to the U.S. from the Greek crisis, the Fed's tools to contain any fallout and the central bank's evolving communications strategy.
Q&A: Philadelphia Fed Chief Charles Plosser
Mr. Plosser said that in the short run, uncertainty in Europe might even work in the U.S. economy's favor, via lower U.S. interest rates and energy prices.
Worries over Greece could lead to more global investment funds being parked in the U.S., boosting liquidity, Mr. Plosser said in an interview in Eltville, in the wine-growing region near Frankfurt, where he was attending a conference sponsored by the German Bundesbank.
He said it was "not an unreasonable argument" that lower U.S. borrowing costs and falling gasoline prices in response to the European crisis could, in the near term, outweigh the drag on the U.S. economy from lower stock-market values.
For the Fed, the challenge is how to extract signals for the U.S. on interest rates from financial markets that are increasingly dominated by events in Europe, Mr. Plosser said.
"You get a good labor number, you get a good industrial production number, but if you have bad news from Europe it's completely swamped," he said.
"I think that Europe is just throwing a lot of noise into the system right now," he said. "It makes reading the tea leaves particularly difficult right now."
The main danger for the U.S., he said, is that concerns over European banks could potentially lead to more restrictive financial-market funding for U.S. banks as well, "just because everybody's scared."
However, with U.S. financial institutions already cutting their European exposure, Mr. Plosser said he isn't too worried about that risk. A "flood of liquidity" into the U.S. as investors seek safer assets is more likely "than the drying up of liquidity," he said.
Mr. Plosser said the Fed has tools to deal with any contagion from Europe, including the existing U.S. dollar-funding lines with the European Central Bank as well as longer-term loans through the Fed's discount window and Lehman-era programs such as the Term Auction Facility.
"I think we have the tools at our disposal if they become necessary," he said.
Despite the uncertainty emanating from Europe, Mr. Plosser expects U.S. gross domestic product to expand by 2.5% to 3% this year and next, and the unemployment rate to drift gradually lower. Against that backdrop, central-bank interest rates would need to rise, he said.
"As long as that's continuing, then I don't see the case for [an] ever-increasing degree of accommodation," he said.
Mr. Plosser is considered one of the Fed's most strident inflation fighters. Still, even with annual consumer-price growth above the central bank's 2% target, he doesn't see inflation as a short-term risk, noting that lower energy prices should bring the rate down. The risk he sees is longer term.
"We have $1.5 trillion in excess reserves. Inflation is going to occur when those excess reserves start flowing" into the economy, he said.
"The challenge for the Fed is will we act quickly enough or aggressively enough to prevent that from happening," he said. The central bank could also come under political pressure if it is forced to sell some of its portfolio of mortgage-backed securities, he said.
Mr. Plosser is a member of a Fed working group tasked with improving the central bank's communications with financial markets and the public. As part of that effort, the Fed has started releasing individual forecasts for interest rates, and publishes a date—currently late 2014—for how long they expect them to remain at their current level near zero.
Mr. Plosser, who opposes setting a specific time frame for policy, warned against putting too much emphasis on specific interest-rate assumptions, calling them "inputs" into the Fed's deliberations.
"I'd rather get rid of the calendar date and talk more about economic conditions and how our decision on how to change the funds rate is going to be more a function of the economy than some calendar date," he said.
He said he opposes extending a $400 billion Fed program launched last year, called "Operation Twist," which involves selling short-term Treasury securities and using the proceeds to buy long-term bonds.
"I don't see where it's had any impact. I see no reason to extend it," he said.
Write to Brian Blackstone at brian.blackstone@dowjones.com
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Re: Viernes 26/05/12 Sentimiento del consumidor
por admin » Lun May 28, 2012 2:18 pm
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Re: Viernes 26/05/12 Sentimiento del consumidor
por admin » Lun May 28, 2012 2:20 pm
2:01 p.m. EDT 05/25/12Treasurys
Price Chg Yield %
2-Year Note 1/32 0.296
10-Year Note 10/32 1.744
* at close
1:14 p.m. EDT 05/28/12Futures
Last Change Settle
Crude Oil 91.14 0.48 90.86
Gold 1575.5 15.7 1571.2
E-mini Dow 12474 45 12429
E-mini S&P 500 1321.50 6.50 1315.00
3:18 p.m. EDT 05/28/12Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 79.47 79.68
Euro (EUR/USD) 1.2542 1.2518
† Late Friday in New York.
Price Chg Yield %
2-Year Note 1/32 0.296
10-Year Note 10/32 1.744
* at close
1:14 p.m. EDT 05/28/12Futures
Last Change Settle
Crude Oil 91.14 0.48 90.86
Gold 1575.5 15.7 1571.2
E-mini Dow 12474 45 12429
E-mini S&P 500 1321.50 6.50 1315.00
3:18 p.m. EDT 05/28/12Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 79.47 79.68
Euro (EUR/USD) 1.2542 1.2518
† Late Friday in New York.
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Re: Viernes 26/05/12 Sentimiento del consumidor
por admin » Lun May 28, 2012 2:21 pm
Copper May 28,14:00
Bid/Ask 3.5045 - 3.5084
Change -0.0002 -0.01%
Low/High 3.5045 - 3.5084
Charts
Nickel May 28,14:00
Bid/Ask 7.6695 - 7.6727
Change +0.0000 +0.00%
Low/High 7.6695 - 7.6727
Charts
Aluminum May 28,14:00
Bid/Ask 0.8941 - 0.8963
Change -0.0005 -0.05%
Low/High 0.8941 - 0.8963
Charts
Zinc May 28,14:00
Bid/Ask 0.8599 - 0.8612
Change +0.0000 +0.00%
Low/High 0.8599 - 0.8613
Charts
Lead May 28,14:00
Bid/Ask 0.8765 - 0.8781
Change +0.0001 +0.01%
Low/High 0.8764 - 0.8782
Charts
Bid/Ask 3.5045 - 3.5084
Change -0.0002 -0.01%
Low/High 3.5045 - 3.5084
Charts
Nickel May 28,14:00
Bid/Ask 7.6695 - 7.6727
Change +0.0000 +0.00%
Low/High 7.6695 - 7.6727
Charts
Aluminum May 28,14:00
Bid/Ask 0.8941 - 0.8963
Change -0.0005 -0.05%
Low/High 0.8941 - 0.8963
Charts
Zinc May 28,14:00
Bid/Ask 0.8599 - 0.8612
Change +0.0000 +0.00%
Low/High 0.8599 - 0.8613
Charts
Lead May 28,14:00
Bid/Ask 0.8765 - 0.8781
Change +0.0001 +0.01%
Low/High 0.8764 - 0.8782
Charts
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Re: Viernes 26/05/12 Sentimiento del consumidor
por admin » Lun May 28, 2012 2:23 pm
Canada
S&P/TSX COMPOSITE INDEX 11,562.12 -14.35
(-0.12%) 15:01
S&P/TSX EQUITY INDEX 11,877.42 -14.88
(-0.13%) 15:01
S&P/TSX 60 INDEX 656.57 -1.53
(-0.23%) 15:00
S&P 500/TORONTO STOCK EXCHANGE VENTURE COMPOSITE INDEX 1,318.79 +9.52
(0.73%) 15:01
Mexico
MEXICAN STOCK EXCHANGE MEXICAN BOLSA IPC INDEX 37,682.03 +195.78
(0.52%) 15:01
MEXICAN STOCK EXCHANGE INMEX INDEX 2,007.92 +12.34
(0.62%) 15:01
MEXICAN STOCK EXCHANGE IMC 30 INDEX 446.63 +4.23
(0.96%) 15:00
MEXICAN STOCK EXCHANGE TOTAL RETURN INDEX 45,581.42 +257.84
(0.57%) 15:01
Panama
BOLSA DE VALORES DE PANAMA GENERAL INDEX 394.34 +0.00
(0.00%) 05/25
Argentina
BUENOS AIRES STOCK EXCHANGE MERVAL INDEX 2,351.61 +11.35
(0.48%) 14:58
BUENOS AIRES STOCK EXCHANGE BURCAP INDEX 8,528.37 +20.54
(0.24%) 14:58
MERVAL ARGENTINA INDEX 1,691.32 +7.32
(0.44%) 14:58
INDICE BOLSA GENERAL BOLSA-G 142,251.47 +376.96
(0.27%) 14:58
Brazil
BOVESPA BRASIL SAO PAULO STOCK EXCHANGE INDEX 55,266.43 +803.27
(1.47%) 15:20
SAO PAULO STOCK EXCHANGE IBRX INDEX 19,634.35 +294.13
(1.52%) 15:06
SAO PAULO STOCK EXCHANGE ELECTRICAL ENERGY INDEX 34,150.88 +471.95
(1.40%) 15:06
BOVESPA TELECOMMUNICATIONS SECTOR INDEX 0.00 +0.00
(0.00%) 15:21
BOVESPA EXCHANGE SHARES WITH DIFFERENTIATED CORPORATE GOVERNANCE INDEX 6,911.11 +102.50
(1.51%) 15:06
BOVESPA VALOR SECOND LINE INDEX 6,329.62 +114.52
(1.84%) 15:06
SAO PAULO STOCK EXCHANGE 50 INDEX 8,100.72 +116.51
(1.46%) 15:06
Chile
SANTIAGO STOCK EXCHANGE IPSA INDEX 4,261.01 +6.40
(0.15%) 15:20
SANTIAGO STOCK EXCHANGE IGPA INDEX 20,576.23 -9.04
(-0.04%) 15:21
CHILE INTER-10 INDEX 5,542.32 +24.39
(0.44%) 15:21
CHILE 65 INDEX 2,938.87 +5.90
(0.20%) 15:05
CHILE LARGE CAP INDEX 2,803.77 +6.41
(0.23%) 14:29
CHILE SMALL CAP INDEX 3,876.14 -5.34
(-0.14%) 15:05
Venezuela
CARACAS STOCK EXCHANGE STOCK MARKET INDEX 237,393.16 -2761.04
(-1.15%) 13:30
Peru
BOLSA DE VALORES DE LIMA GENERAL SECTOR INDEX 20,854.53 +110.03
(0.53%) 15:01
BOLSA DE VALORES DE LIMA SELECTIVE SECTOR INDEX 30,080.63 +111.51
(0.37%) 15:01
Columbia
COLOMBIA COLCAP INDEX 1,704.48 -8.85
(-0.52%) 14:58
COLUMBIA COL20 INDEX 1,431.24 +2.34
(0.16%) 14:58
INDICE GENERAL DE LA BOLSA DE VALORES DE COLOMBIA 14,455.08 -18.69
(-0.13%) 14:58
S&P/TSX COMPOSITE INDEX 11,562.12 -14.35
(-0.12%) 15:01
S&P/TSX EQUITY INDEX 11,877.42 -14.88
(-0.13%) 15:01
S&P/TSX 60 INDEX 656.57 -1.53
(-0.23%) 15:00
S&P 500/TORONTO STOCK EXCHANGE VENTURE COMPOSITE INDEX 1,318.79 +9.52
(0.73%) 15:01
Mexico
MEXICAN STOCK EXCHANGE MEXICAN BOLSA IPC INDEX 37,682.03 +195.78
(0.52%) 15:01
MEXICAN STOCK EXCHANGE INMEX INDEX 2,007.92 +12.34
(0.62%) 15:01
MEXICAN STOCK EXCHANGE IMC 30 INDEX 446.63 +4.23
(0.96%) 15:00
MEXICAN STOCK EXCHANGE TOTAL RETURN INDEX 45,581.42 +257.84
(0.57%) 15:01
Panama
BOLSA DE VALORES DE PANAMA GENERAL INDEX 394.34 +0.00
(0.00%) 05/25
Argentina
BUENOS AIRES STOCK EXCHANGE MERVAL INDEX 2,351.61 +11.35
(0.48%) 14:58
BUENOS AIRES STOCK EXCHANGE BURCAP INDEX 8,528.37 +20.54
(0.24%) 14:58
MERVAL ARGENTINA INDEX 1,691.32 +7.32
(0.44%) 14:58
INDICE BOLSA GENERAL BOLSA-G 142,251.47 +376.96
(0.27%) 14:58
Brazil
BOVESPA BRASIL SAO PAULO STOCK EXCHANGE INDEX 55,266.43 +803.27
(1.47%) 15:20
SAO PAULO STOCK EXCHANGE IBRX INDEX 19,634.35 +294.13
(1.52%) 15:06
SAO PAULO STOCK EXCHANGE ELECTRICAL ENERGY INDEX 34,150.88 +471.95
(1.40%) 15:06
BOVESPA TELECOMMUNICATIONS SECTOR INDEX 0.00 +0.00
(0.00%) 15:21
BOVESPA EXCHANGE SHARES WITH DIFFERENTIATED CORPORATE GOVERNANCE INDEX 6,911.11 +102.50
(1.51%) 15:06
BOVESPA VALOR SECOND LINE INDEX 6,329.62 +114.52
(1.84%) 15:06
SAO PAULO STOCK EXCHANGE 50 INDEX 8,100.72 +116.51
(1.46%) 15:06
Chile
SANTIAGO STOCK EXCHANGE IPSA INDEX 4,261.01 +6.40
(0.15%) 15:20
SANTIAGO STOCK EXCHANGE IGPA INDEX 20,576.23 -9.04
(-0.04%) 15:21
CHILE INTER-10 INDEX 5,542.32 +24.39
(0.44%) 15:21
CHILE 65 INDEX 2,938.87 +5.90
(0.20%) 15:05
CHILE LARGE CAP INDEX 2,803.77 +6.41
(0.23%) 14:29
CHILE SMALL CAP INDEX 3,876.14 -5.34
(-0.14%) 15:05
Venezuela
CARACAS STOCK EXCHANGE STOCK MARKET INDEX 237,393.16 -2761.04
(-1.15%) 13:30
Peru
BOLSA DE VALORES DE LIMA GENERAL SECTOR INDEX 20,854.53 +110.03
(0.53%) 15:01
BOLSA DE VALORES DE LIMA SELECTIVE SECTOR INDEX 30,080.63 +111.51
(0.37%) 15:01
Columbia
COLOMBIA COLCAP INDEX 1,704.48 -8.85
(-0.52%) 14:58
COLUMBIA COL20 INDEX 1,431.24 +2.34
(0.16%) 14:58
INDICE GENERAL DE LA BOLSA DE VALORES DE COLOMBIA 14,455.08 -18.69
(-0.13%) 14:58
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Re: Viernes 26/05/12 Sentimiento del consumidor
por admin » Lun May 28, 2012 2:25 pm
Peru +0.48%
PML US$ 0.73 US$ 0.06 8.96
TELEFBC1 2.10 0.05 2.44
FALABEC1 2.90 0.05 1.75
CORAREI1 2.34 0.04 1.74
DNT US$ 0.59 US$ 0.01 1.72
Acciones Ultima cotización (S/.) Var. día (S/.) Var. día (%)
MAPFREC1 3.23 3.23 -6.38
POMALCC1 0.55 -0.02 -3.51
SNJACIC1 10.00 -0.30 -2.91
MINCORI1 32.00 -0.50 -1.51
IFS US$ 30.30 US$ -0.20 -0.66
PML US$ 0.73 US$ 0.06 8.96
TELEFBC1 2.10 0.05 2.44
FALABEC1 2.90 0.05 1.75
CORAREI1 2.34 0.04 1.74
DNT US$ 0.59 US$ 0.01 1.72
Acciones Ultima cotización (S/.) Var. día (S/.) Var. día (%)
MAPFREC1 3.23 3.23 -6.38
POMALCC1 0.55 -0.02 -3.51
SNJACIC1 10.00 -0.30 -2.91
MINCORI1 32.00 -0.50 -1.51
IFS US$ 30.30 US$ -0.20 -0.66
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Re: Viernes 26/05/12 Sentimiento del consumidor
por admin » Lun May 28, 2012 2:26 pm
RESUMEN-Costo deuda España se dispara, crisis euro se profundiza
lunes 28 de mayo de 2012 11:55 GYT Imprimir | Una Pagina [-] Texto [+]
1 de 1Tamaño Completo
Por Julien Toyer y Sarah White
MADRID (Reuters) - Los rendimientos de la deuda española saltaban el lunes hasta rondar el peligroso nivel del 7 por ciento mientras que las acciones de Bankia SA tocaron mínimos históricos, luego de que el Gobierno hispano, que lucha por poner en orden sus finanzas, propuso revivir al complicado banco mediante deuda pública.
El presidente del Gobierno español, Mariano Rajoy, culpó del alza en los costos de endeudamiento del país a los crecientes temores sobre el futuro de la zona euro y volvió a descartar la necesidad de ayuda externa para reactivar a un sector bancario deprimido por la explosión de una burbuja inmobiliaria.
El mandatario dijo en una conferencia de prensa que hay "dudas importantes sobre la zona euro y eso hace que la prima de riesgo de algunos países esté muy elevada", agregando que sería una muy buena idea entregar un mensaje claro de que no hay salida del euro.
"No va a haber ningún rescate de la banca española", aseguró antes de apoyar los llamados para que el fondo de rescate de la zona euro, que empezará a funcionar en julio, pueda dar préstamos directamente a los bancos.
Fuentes gubernamentales dijeron a Reuters que España podría recapitalizar Bankia con deuda soberana a cambio de acciones del banco y que podría emplear este método con otras entidades en problemas, algo que enviaría el ratio de endeudamiento del país respecto al PIB por encima del 79,8 por ciento previsto para este año.
"Esta solución ya ha sido utilizada antes por Alemania e Irlanda y es perfectamente válida", dijo una fuente del Gobierno a Reuters el lunes.
La fuente dijo que el Banco Central Europeo no ha sido informado específicamente de los planes de inyectar bonos estatales a Bankia, aunque aún no se ha tomado una decisión final al respecto.
La empresa matriz de Bankia, BFA, solicitó 19.000 millones de euros (23.800 millones de dólares) en ayuda gubernamental, además de los 4.500 millones de euros que ya inyectó el Estado para cubrir posibles pérdidas en propiedades recuperadas, préstamos e inversiones. Continuación...
lunes 28 de mayo de 2012 11:55 GYT Imprimir | Una Pagina [-] Texto [+]
1 de 1Tamaño Completo
Por Julien Toyer y Sarah White
MADRID (Reuters) - Los rendimientos de la deuda española saltaban el lunes hasta rondar el peligroso nivel del 7 por ciento mientras que las acciones de Bankia SA tocaron mínimos históricos, luego de que el Gobierno hispano, que lucha por poner en orden sus finanzas, propuso revivir al complicado banco mediante deuda pública.
El presidente del Gobierno español, Mariano Rajoy, culpó del alza en los costos de endeudamiento del país a los crecientes temores sobre el futuro de la zona euro y volvió a descartar la necesidad de ayuda externa para reactivar a un sector bancario deprimido por la explosión de una burbuja inmobiliaria.
El mandatario dijo en una conferencia de prensa que hay "dudas importantes sobre la zona euro y eso hace que la prima de riesgo de algunos países esté muy elevada", agregando que sería una muy buena idea entregar un mensaje claro de que no hay salida del euro.
"No va a haber ningún rescate de la banca española", aseguró antes de apoyar los llamados para que el fondo de rescate de la zona euro, que empezará a funcionar en julio, pueda dar préstamos directamente a los bancos.
Fuentes gubernamentales dijeron a Reuters que España podría recapitalizar Bankia con deuda soberana a cambio de acciones del banco y que podría emplear este método con otras entidades en problemas, algo que enviaría el ratio de endeudamiento del país respecto al PIB por encima del 79,8 por ciento previsto para este año.
"Esta solución ya ha sido utilizada antes por Alemania e Irlanda y es perfectamente válida", dijo una fuente del Gobierno a Reuters el lunes.
La fuente dijo que el Banco Central Europeo no ha sido informado específicamente de los planes de inyectar bonos estatales a Bankia, aunque aún no se ha tomado una decisión final al respecto.
La empresa matriz de Bankia, BFA, solicitó 19.000 millones de euros (23.800 millones de dólares) en ayuda gubernamental, además de los 4.500 millones de euros que ya inyectó el Estado para cubrir posibles pérdidas en propiedades recuperadas, préstamos e inversiones. Continuación...
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Re: Viernes 26/05/12 Sentimiento del consumidor
por admin » Lun May 28, 2012 2:32 pm
Ahora si ue me dan pena los Espanoles, piden ayuda a la Union Europea para que calme el temor del mercado.
BUSINESS Updated May 28, 2012, 2:51 p.m. ET
Spain Asks EU to Help Calm Fears
By JONATHAN HOUSE And CHRISTOPHER BJORK
MADRID—Concerns about Spain's ability to both shore up fiscal gaps and overhaul a feeble banking system again sent Spanish borrowing costs to record highs Monday, prompting a new call from Prime Minister Mariano Rajoy for the European Union to take action to help Spain calm roiled markets.
Heard: Fresh Can of Worms for Spain
Mr. Rajoy at a news conference ruled out the need for Spain to ask for EU funds to clean up its banks. But he called on EU institutions to more actively support fiscally frail governments in the euro zone, which would help bring down the soaring rates of interest charged on Spain's debt.
Spanish sovereign bonds came under heavy pressure Monday after the government announced a €19 billion ($23.78 billion) bailout of Bankia SA, Spain's third-largest lender by assets. The announcement late Friday, effectively nationalizing Bankia, raised concern the government may be on the hook for further funds to prop up its fragile banking sector. Under EU pressure, Spain has commissioned an external audit of the country's lenders by Roland Berger and Oliver Wyman and will disclose the results by mid-June.
Bankia shares fell steeply in the morning following the government's decision to pump €19 billion ($24 billion) into the troubled lender. The move effectively nationalized the country's third-largest bank. WSJ's Sara Schaefer Munoz reports. Photo: AP
One concern is that the new, lower value given to Bankia assets such as corporate and mortgage loans will now be applied to banks across the sector, resulting in bigger-than-expected shortfalls at other banks as well. Several analysts have expressed worries about how Banco Popular SA will be able to set aside enough funds to cover potential losses, given its exposure to real-estate developers. Banco Popular has one of Spain's largest exposures to real-estate developers after Bankia. A Banco Popular spokesman said the bank has no need of state support and can meet its capital needs through profit generation and capital gains.
Nomura analyst Daragh Quinn estimated in a note to clients that the entire Spanish banking sector could need an additional €50 billion to €60 billion in fresh capital. That towers over the resources of Spain's state-backed Fund for Orderly Bank Restructuring, known as the FROB, which has around €9 billion left to support ailing banks.
The FROB can issue more debt, but Spain's borrowing costs have spiralled higher at recent auctions, while demand has fallen, limiting its efforts to stock up on capital. That leaves the government short when coming up with the funds needed to prop up Bankia. A government spokesman said Spain could get around that problem by giving Bankia debt securities either from the treasury or from the FROB instead of cash. The bank would then use these securities as collateral to raise funds from the ECB's lending facilities.
Mr. Rajoy said Spain needs more help from the EU to resolve the problems of financing, of liquidity and of debt sustainability. "We need a clear, forceful and energetic defense of the euro," he said, without being more specific.
The prime minister's comments were taken as an appeal for the European Central Bank to resume its past practice of buying bonds issued by high-debt euro-zone governments in secondary markets to bring down borrowing costs. Data available Monday showed the ECB hasn't done any bond buying for 11 weeks.
Spanish officials are betting that if they can lower borrowing costs they will be able to tackle all the problem areas in the local economy, even as they aim to slash a budget deficit that stood at 8.9% of gross domestic product in 2011. But Spain has already asked to push back deficit-reduction targets once, and investors have shown in the marketplace that Spain is considered a risky bet.
Spain's risk premium has been rising also due to concerns that it and other peripheral euro-zone countries could be the next weak links in the common currency if twice-bailed-out Greece is forced out of the euro. Recent opinion polls in Greece have indicated the possible emergence of a pro-bailout coalition government in Athens after the June 17 elections, at least temporarily pulling the country back from the brink of leaving the euro. But the list of euro-zone woes now includes growing anxiety over the mounting financial pressures in Spain, where weak economic growth has deeply complicated efforts to reverse deepening fiscal deficits and stabilize the banking system.
Spanish bank shares posted heavy losses Monday. Spanish 10-year bond yields climbed to as high as 6.47%, their highest point in 2012 Monday, a level that economists say is unsustainable over the longer term. At this level, the price Spain must pay investors to buy their bonds is more than five percentage points higher than comparable bonds issued by the German government, an all-time high. The cost of buying protection against a Spanish default also pushed to an all-time high Monday.
The risk seen by many economists is that investors will continue to demand higher risk premiums if the country's public finances and banking systems aren't stabilized. This could lock the government and the banks in a "feedback loop" of rising credit costs, driving Spanish assets deeper into negative territory, said Richard McGuire, an interest-rate strategist at Rabobank International.
"The process is self-fulfilling. The more [sovereign] yields rise the more denuded banks' balance sheets become. This in turn fuels concerns about the banking system, which further inflames yields," Mr. McGuire said.
That calculus also affects another key source of concern: highly indebted regional governments, which have to refinance around €30 billion in maturing debt this year but are encountering increasing difficulties obtaining credit from financial markets and even from local banks.
BUSINESS Updated May 28, 2012, 2:51 p.m. ET
Spain Asks EU to Help Calm Fears
By JONATHAN HOUSE And CHRISTOPHER BJORK
MADRID—Concerns about Spain's ability to both shore up fiscal gaps and overhaul a feeble banking system again sent Spanish borrowing costs to record highs Monday, prompting a new call from Prime Minister Mariano Rajoy for the European Union to take action to help Spain calm roiled markets.
Heard: Fresh Can of Worms for Spain
Mr. Rajoy at a news conference ruled out the need for Spain to ask for EU funds to clean up its banks. But he called on EU institutions to more actively support fiscally frail governments in the euro zone, which would help bring down the soaring rates of interest charged on Spain's debt.
Spanish sovereign bonds came under heavy pressure Monday after the government announced a €19 billion ($23.78 billion) bailout of Bankia SA, Spain's third-largest lender by assets. The announcement late Friday, effectively nationalizing Bankia, raised concern the government may be on the hook for further funds to prop up its fragile banking sector. Under EU pressure, Spain has commissioned an external audit of the country's lenders by Roland Berger and Oliver Wyman and will disclose the results by mid-June.
Bankia shares fell steeply in the morning following the government's decision to pump €19 billion ($24 billion) into the troubled lender. The move effectively nationalized the country's third-largest bank. WSJ's Sara Schaefer Munoz reports. Photo: AP
One concern is that the new, lower value given to Bankia assets such as corporate and mortgage loans will now be applied to banks across the sector, resulting in bigger-than-expected shortfalls at other banks as well. Several analysts have expressed worries about how Banco Popular SA will be able to set aside enough funds to cover potential losses, given its exposure to real-estate developers. Banco Popular has one of Spain's largest exposures to real-estate developers after Bankia. A Banco Popular spokesman said the bank has no need of state support and can meet its capital needs through profit generation and capital gains.
Nomura analyst Daragh Quinn estimated in a note to clients that the entire Spanish banking sector could need an additional €50 billion to €60 billion in fresh capital. That towers over the resources of Spain's state-backed Fund for Orderly Bank Restructuring, known as the FROB, which has around €9 billion left to support ailing banks.
The FROB can issue more debt, but Spain's borrowing costs have spiralled higher at recent auctions, while demand has fallen, limiting its efforts to stock up on capital. That leaves the government short when coming up with the funds needed to prop up Bankia. A government spokesman said Spain could get around that problem by giving Bankia debt securities either from the treasury or from the FROB instead of cash. The bank would then use these securities as collateral to raise funds from the ECB's lending facilities.
Mr. Rajoy said Spain needs more help from the EU to resolve the problems of financing, of liquidity and of debt sustainability. "We need a clear, forceful and energetic defense of the euro," he said, without being more specific.
The prime minister's comments were taken as an appeal for the European Central Bank to resume its past practice of buying bonds issued by high-debt euro-zone governments in secondary markets to bring down borrowing costs. Data available Monday showed the ECB hasn't done any bond buying for 11 weeks.
Spanish officials are betting that if they can lower borrowing costs they will be able to tackle all the problem areas in the local economy, even as they aim to slash a budget deficit that stood at 8.9% of gross domestic product in 2011. But Spain has already asked to push back deficit-reduction targets once, and investors have shown in the marketplace that Spain is considered a risky bet.
Spain's risk premium has been rising also due to concerns that it and other peripheral euro-zone countries could be the next weak links in the common currency if twice-bailed-out Greece is forced out of the euro. Recent opinion polls in Greece have indicated the possible emergence of a pro-bailout coalition government in Athens after the June 17 elections, at least temporarily pulling the country back from the brink of leaving the euro. But the list of euro-zone woes now includes growing anxiety over the mounting financial pressures in Spain, where weak economic growth has deeply complicated efforts to reverse deepening fiscal deficits and stabilize the banking system.
Spanish bank shares posted heavy losses Monday. Spanish 10-year bond yields climbed to as high as 6.47%, their highest point in 2012 Monday, a level that economists say is unsustainable over the longer term. At this level, the price Spain must pay investors to buy their bonds is more than five percentage points higher than comparable bonds issued by the German government, an all-time high. The cost of buying protection against a Spanish default also pushed to an all-time high Monday.
The risk seen by many economists is that investors will continue to demand higher risk premiums if the country's public finances and banking systems aren't stabilized. This could lock the government and the banks in a "feedback loop" of rising credit costs, driving Spanish assets deeper into negative territory, said Richard McGuire, an interest-rate strategist at Rabobank International.
"The process is self-fulfilling. The more [sovereign] yields rise the more denuded banks' balance sheets become. This in turn fuels concerns about the banking system, which further inflames yields," Mr. McGuire said.
That calculus also affects another key source of concern: highly indebted regional governments, which have to refinance around €30 billion in maturing debt this year but are encountering increasing difficulties obtaining credit from financial markets and even from local banks.
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Re: Viernes 26/05/12 Sentimiento del consumidor
por admin » Lun May 28, 2012 3:26 pm
Parece que he estado actualizando el foro del Viernes en lugar del Lunes. Por favor revisenlo. Estoy en la playa.
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Re: Viernes 26/05/12 Sentimiento del consumidor
por admin » Lun May 28, 2012 3:29 pm
2:01 p.m. EDT 05/25/12Treasurys
Price Chg Yield %
2-Year Note 1/32 0.296
10-Year Note 10/32 1.744
* at close
1:14 p.m. EDT 05/28/12Futures
Last Change Settle
Crude Oil 91.14 0.48 90.86
Gold 1575.5 15.7 1571.2
E-mini Dow 12474 45 12429
E-mini S&P 500 1321.50 6.50 1315.00
4:26 p.m. EDT 05/28/12Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 79.48 79.68
Euro (EUR/USD) 1.2540 1.2518
† Late Friday in New York.
Price Chg Yield %
2-Year Note 1/32 0.296
10-Year Note 10/32 1.744
* at close
1:14 p.m. EDT 05/28/12Futures
Last Change Settle
Crude Oil 91.14 0.48 90.86
Gold 1575.5 15.7 1571.2
E-mini Dow 12474 45 12429
E-mini S&P 500 1321.50 6.50 1315.00
4:26 p.m. EDT 05/28/12Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 79.48 79.68
Euro (EUR/USD) 1.2540 1.2518
† Late Friday in New York.
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