Viernes 21/06/13 Expiracion de opciones

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+18.43

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+36

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Canada
S&​P/​TSX COMPOSITE INDEX 12,039.11 +70.54
(+0.59%) 10:50
S&​P/​TSX EQUITY INDEX 12,325.84 -307.21
(-2.43%) JUN 20
S&​P/​TSX 60 INDEX 691.16 +4.27
(+0.62%) 10:51
S&​P/​TSX VENTURE COMPOSITE INDEX 896.12 +3.52
(+0.39%) 10:51
Mexico
MEXICAN STOCK EXCHANGE MEXICAN BOLSA IPC INDEX 37,389.26 -127.97
(-0.34%) 11:11
MEXICAN STOCK EXCHANGE INMEX INDEX 2,147.62 -4.82
(-0.22%) 11:10
MEXICAN STOCK EXCHANGE IMC 30 INDEX 549.72 -0.07
(-0.01%) 11:11
MEXICAN STOCK EXCHANGE TOTAL RETURN INDEX 45,847.32 -156.83
(-0.34%) 11:11
Panama
BOLSA DE VALORES DE PANAMA GENERAL INDEX 477.75 +0.00
(0.00%) 10:35
Argentina
BUENOS AIRES STOCK EXCHANGE MERVAL INDEX 3,070.86 +22.86
(+0.75%) JUN 19
BUENOS AIRES STOCK EXCHANGE BURCAP INDEX 11,093.80 +99.07
(+0.90%) JUN 19
MERVAL ARGENTINA INDEX 2,156.40 +18.13
(+0.85%) JUN 19
INDICE BOLSA GENERAL BOLSA-G 180,282.92 +1293.46
(+0.72%) JUN 19
Brazil
IBOVESPA BRASIL SAO PAULO STOCK EXCHANGE INDEX 47,313.93 -900.50
(-1.87%) 10:56
SAO PAULO STOCK EXCHANGE IBRX INDEX 19,292.32 -282.82
(-1.44%) 10:56
SAO PAULO STOCK EXCHANGE ELECTRICAL ENERGY INDEX 24,917.91 -899.28
(-3.48%) 10:56
BOVESPA TELECOMMUNICATIONS SECTOR INDEX 0.00 +0.00
(0.00%) 11:11
BOVESPA EXCHANGE SHARES WITH DIFFERENTIATED CORPORATE GOVERNANCE INDEX 7,106.92 -93.54
(-1.30%) 10:55
BOVESPA VALOR SECOND LINE INDEX 6,295.70 -83.79
(-1.31%) 10:56
SAO PAULO STOCK EXCHANGE 50 INDEX 7,859.43 -107.44
(-1.35%) 10:56
Chile
SANTIAGO STOCK EXCHANGE IPSA INDEX 3,831.53 +5.10
(+0.13%) 11:10
SANTIAGO STOCK EXCHANGE IGPA INDEX 19,173.33 +25.60
(+0.13%) 11:11
CHILE INTER-10 INDEX 4,677.52 +11.07
(+0.24%) 11:10
CHILE 65 INDEX 2,734.98 +1.32
(+0.05%) 10:52
CHILE LARGE CAP INDEX 2,521.12 +1.19
(+0.05%) 10:52
CHILE SMALL CAP INDEX 4,010.53 -1.86
(-0.05%) 09:55
Venezuela
CARACAS STOCK EXCHANGE STOCK MARKET INDEX 967,445.25 +12653.25
(+1.33%) 11:07
Peru
BOLSA DE VALORES DE LIMA GENERAL SECTOR INDEX 15,760.08 +13.98
(+0.09%) 10:51
BOLSA DE VALORES DE LIMA SELECTIVE SECTOR INDEX 24,253.08 +39.30
(+0.16%) 10:51
Columbia
COLOMBIA COLCAP INDEX 1,614.15 -0.03
(-0.00%) 11:06
COLOMBIA COL20 INDEX 1,219.67 -0.81
(-0.07%) 11:06
INDICE GENERAL DE LA BOLSA DE VALORES DE COLOMBIA 12,961.13 -0.93
(-0.01%) 11:06

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Peru -0.14%


Acciones Ultima cotización (S/.) Var. día (S/.) Var. día (%)
BAP US$ 126.00 US$ 1.50 1.20




Acciones Ultima cotización (S/.) Var. día (S/.) Var. día (%)
TV US$ 0.53 US$ -0.04 -7.02
RIO US$ 1.89 US$ -0.05 -2.58
TELEFBC1 2.13 -0.02 -0.93
VOLCABC1 1.28 -0.01 -0.78
INVCENC1 5.75 -0.03 -0.52

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DJIA 14757.72 -0.60 0.00%
Nasdaq 3341.37 -23.27 -0.69%
S&P 500 1585.58 -2.61 -0.16%
Russell 2000 958.69 -1.83 -0.19%
Global Dow 2085.62 -6.68 -0.32%
Japan: Nikkei 225 13230.13 215.55 1.66%
Stoxx Europe 600 281.81 -1.87 -0.66%
UK: FTSE 100 6139.21 -20.30 -0.33%

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Euro (EUR/USD) 1.3119 -0.0100
Yen (USD/JPY) 97.52 0.23
Pound (GBP/USD) 1.5381 -0.0129
Australia $ (AUD/USD) 0.9201 0.0004
Swiss Franc (USD/CHF) 0.9364 0.0089
WSJ Dollar Index

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Crude Oil 93.89 -1.25 -1.31%
Brent Crude 100.78 -1.37 -1.34%
Gold 1290.2 4.0 0.31%
Silver 19.805 -0.018 -0.09%
E-mini DJIA 14703 2 0.01%
E-mini S&P 500 1581.25 -2.75 -0.17%

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+8.10

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Las acciones de EE.UU. suben temprano tras descenso de dos días

June 21, 2013 10:23 AM

By Por Tomi Kilgore

NUEVA YORK–Las acciones en Estados Unidos abrieron al alza y pusieron fin a un desplome de dos días, en medio de cierta estabilización en los mercados internacionales, al tiempo que los precios de los títulos de Tesoro y del oro contribuían a calmar el nerviosismo entre los inversionistas.

El Promedio Industrial Dow Jones subía 64 puntos, o 0,4%, a 14.823. El jueves, el Dow declinó 354 puntos, o 2,3%, para cerrar en un mínimo de siete semanas. El descenso de 560 puntos en dos días fue el más amplio desde noviembre de 2011.

El índice Standard & Poor's 500 avanzaba ocho puntos, o 0,5%, a 1.596, mientras que el índice Compuesto Nasdaq cedía un punto, o menos de 0,1%, a 3.364.

El viernes representa lo que se conoce en Wall Street como "Cuádruple Día Bruja", cuando los contratos a futuro, opciones de índices, opciones de aciones individuales y futuros de acciones individuales expiran el mismo día. Esto podría generar un mayor volumen en las negociaciones de la mañana, pero no se espera que afecte la dirección del mercado.

No se esperan datos económicos importantes para la sesión.

Los inversionistas han tenido dificultad para ajustarse a las expectativas de que la Reserva Federal podría comenzar a retirar su estímulo hacia fines de año si la economía continúa en su curso actual, al tiempo que las acciones caían en todo el mundo, el rendimiento de la nota a 10 años del Tesoro de EE.UU. subió a un máximo de casi dos años de 2,419%, mientras el oro cayó a un mínimo de casi tres años.

El viernes, los futuros del oro para entrega en agosto subían 0,6% a US$1.293,80 la onza y el rendimiento de la nota del Tesoro a 10 años caía a 2,392%.

John Sawyer, director de inversiones de BBVA Compass, señaló que la liquidación en las acciones fue un poco "extrema", considerando que cualquier reducción al estímulo estaría basado en una mejora estructural de la economía.

"El mercado está dando a la gente una oportunidad de hacer algunos cambios de asignaciones, para aquellos que perdieron su oportunidad [de comprar acciones] durante el ascenso", dijo Sawyer. "Este podría ser el comienzo del proceso de invertir sobre los fundamentales nuevamente", en lugar de basarse en comentarios de funcionarios de la Fed.

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http://online.wsj.com/public/page/espanol-inicio.html

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Los yields suben a 2.50%

-36.06

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-49.15

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Como todo el mundo se ha prestado dinero por generaciones generando una prosperidad ficticia. La adiccion a la deuda solo empeora.

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June 20, 2013, 7:11 p.m. ET
Central Banks and the Borrowing Addiction
From 1980 to 2010, overall U.S. debt grew as fast as GDP. From 1950 to 1980, it was a small fraction of growth.

By ROMAIN HATCHUEL
Have financial markets become a giant crack house? Investors have certainly been acting like a bunch of junkies lately.

Any hint that their main dealer—otherwise known as Federal Reserve Chairman Ben Bernanke—might start cutting down his generous supply of cash sets them off in a frenzy. Mr. Bernanke's latest comments on Wednesday, signaling a sooner-than-previously anticipated tapering off of the Fed's monetary easing, triggered a sharp global selloff in practically every asset class.

Japan, the world's most central-bank-driven market at the moment, recently has been at the forefront of this commotion. After rallying 50% from the beginning of the year until May 22, the Nikkei 225 index lost more than 13% in a matter of days due to fears of the Fed reducing its asset purchases, and contradictory statements made by Bank of Japan 8301.JA -3.68%chief Haruhiko Kuroda about the targeted level of interest rates. It has fallen another 4% since the end of May, putting it close to bear market territory. This growing dependence on central bank liquidity is only the latest stage of a long process of addiction that began decades ago.

Drug addicts turn to dangerous and potentially lethal substances in order to find happiness, or at least some comfort, that their sober lives can't provide. Getting high is a way for them to live in a falsely enhanced reality. That is exactly what most developed nations have been doing for the past 30 years—artificially stimulating their economies by abusing a toxic substance called debt.

From 1980 to 2010, the average amount of household, nonfinancial corporate and government debt as a percentage of gross domestic product in G-7 countries (the seven most industrialized economies, excluding China) grew to 303% from 177%, a 71% jump. Over that same period, real GDP in these seven countries increased by 88% on average. When considering these two statistics, it's hard not to infer that a heavy reliance on debt had something to do with the economic happiness the world's richest nations enjoyed during those years.

A closer look at the United States over a longer period provides an even clearer picture. From 1950 to 1980, the world's largest economy soared by 191% in inflation-adjusted terms, while the combination of household, corporate (including financial) and government debt increased by a mere 12%. In the following three decades, from 1980 to 2010, the U.S. GDP grew a more moderate 124%, yet total debt rose by an almost identical 125%.

Although one needs to be careful when drawing conclusions from such data, it is obvious that surging debt—whether public or private, household or corporate—contributed massively to the advanced world's economic expansion. Our prosperity was, if not stolen, at least borrowed from the future. Well, the future is now, and payback time is nearing.

Major central banks in late 2008 and 2009 engaged in unprecedented monetary easing conducted to avoid a full-fledged financial meltdown. In doing so, they have postponed the adjustments required to stabilize let alone bring down, aggregate levels of debt in the world's largest economies. The Fed and its counterparts from England, the euro zone, Switzerland, Japan and China, have printed an astounding $10 trillion since 2007, tripling the size of their combined balance sheets.

By flooding the world with liquidity and keeping interest rates at rock-bottom levels, they have exempted many fiscally challenged nations from having to deal with their debt addiction. These policies have also provided artificial support to household wealth and spending, as well as corporate balance sheets.

Why get off the drugs if Mr. Bernanke and other members of the international central-bank cartel are providing a seemingly infinite fix? For a good reason: The risk of a global overdose is probably as high as it has ever been.

Asset prices look bubbly across the board, resulting in erratic price movements that extend way beyond Japanese borders. U.S. 10-year Treasurys, which are among the least volatile securities, posted their worst monthly performance since December 2010, losing 3.5% of their value in May (and another 2% since then).

Few serious money managers will tell you that they still see compelling investment opportunities out there. The more optimistic ones usually put forward the same lame reason: liquidity, liquidity, liquidity. In other words, cheap money should continue to drive up asset prices.

Austerity-bashers agree that the party must go on. One of their most outspoken leaders, New York Times columnist Paul Krugman, has been arguing for years that austerity simply "doesn't work." But his criticism fails to address the issue properly, since it ignores the fact that austerity—a combination of spending cuts and tax increases—is not a policy intended to stimulate growth. If anything, austerity initially hinders economic activity (as several peripheral European countries are now experiencing), and may even interfere with deficit- and debt-reduction efforts. Rehabilitation is not designed to provide short-term relief to drug addicts. It is always a long and painful process.

Most of those against austerity concede that some sort of fiscal consolidation—deficit and debt reduction—is needed, but not in times of economic hardship. This theory takes no account of the considerable risks that the global economy still faces. These threats require immediate fiscal action—delaying such action undermines confidence and could create self-fulfilling prophecies.

How long will markets continue to give credit to debt-addicted nations? Would any of us lend money to a junkie? This "spend more, worry later" approach is also a waste of the historic momentum that the crisis created for fiscal discipline and reform—momentum that is now fading due to asset reflation.

Austerity is not a choice, nor is it an alternative to some other economic policy. It is a life-or-death obligation meant to prevent the world from an otherwise inevitable debt overdose. Unlike what some would like to believe, there is no painless recovery from a crisis that follows 30 years of stolen growth through heavy debt abuse.

Mr. Hatchuel is managing partner of Square Advisors, LLC, a New York-based asset management firm.

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-29.49

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Futures cu 3.0830

VIX down 20.23

Euro down 1.3120