Economia
A look at government bond yields since 1860
ALTHOUGH government bonds are usually regarded as a “safe asset”, they have been highly volatile over the long term. Spanish yields may just have reached a high for the euro-area period, over 7.5% on July 24th, but they have been higher in the past—during the revolutionary period of the 1870s, the loss of colonies like Cuba and the Philippines in the 1890s, the civil war of the 1930s and, of course, the inflationary period of the 1970s. During the latter era all bond yields rose sharply, creating a fantastic buying opportunity in the early 1980s. For the last 30 years, the trend in American and German bond yields has been relentlessly downward, creating the current historic lows. No doubt some of the buyers of German and American bonds are Italian and Spanish investors fleeing their domestic markets. While such yields look a terrible bargain by historic standards, it is worth noting that low American yields persisted for a long time in the late 1940s and early 1950s before inflation started to take its toll.
Fonte
- O Programa Para A Participação "voluntária" Dos Investidores Privados
De acordo com um documento divulgado pelo Institute of International Finance, o programa para a participação "voluntária" dos privados envolverá a troca dos títulos de dívida gregos por uma combinação de quatro instrumentos: "1) A Par Bond Exchange...
- Yields Da Dívida Soberana
A notícia de que os ministros das financças da zona euro recusaram uma expansão do fundo de estabilização conduziu a uma subida das txas de juro da dívida portuguesa com os yields a 10 anos a fixarem-se nos 7,07%, os yields da dívida a 5 anos a...
- Governo Impotente
Government Shows Itself Impotent on Economy by Sheldon Richman, July 11, 2012 It should finally have dawned on the American people that the politicians who presume to guide the economy have no bloody idea what they’re doing. We’re long past...
- Dinâmica Da Dívida Pública
Debt dynamics The maths behind the madness The Economist online Our interactive guide to reducing government debtGOVERNMENT debt dynamics, once an esoteric subject of interest only to macroeconomists, are suddenly in vogue. With Greece...
- Expectativas Racionais
Gross: Additional Easing Programs to Push Yields Higher By Liz Capo McCormickBill Gross, manager of the world’s biggest bond fund at Pacific Investment Management Co., said the additional easing programs hinted at by Federal Reserve...
Economia
Taxa de juros de debentures desde 1860
A look at government bond yields since 1860
ALTHOUGH government bonds are usually regarded as a “safe asset”, they have been highly volatile over the long term. Spanish yields may just have reached a high for the euro-area period, over 7.5% on July 24th, but they have been higher in the past—during the revolutionary period of the 1870s, the loss of colonies like Cuba and the Philippines in the 1890s, the civil war of the 1930s and, of course, the inflationary period of the 1970s. During the latter era all bond yields rose sharply, creating a fantastic buying opportunity in the early 1980s. For the last 30 years, the trend in American and German bond yields has been relentlessly downward, creating the current historic lows. No doubt some of the buyers of German and American bonds are Italian and Spanish investors fleeing their domestic markets. While such yields look a terrible bargain by historic standards, it is worth noting that low American yields persisted for a long time in the late 1940s and early 1950s before inflation started to take its toll.
Fonte
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- O Programa Para A Participação "voluntária" Dos Investidores Privados
De acordo com um documento divulgado pelo Institute of International Finance, o programa para a participação "voluntária" dos privados envolverá a troca dos títulos de dívida gregos por uma combinação de quatro instrumentos: "1) A Par Bond Exchange...
- Yields Da Dívida Soberana
A notícia de que os ministros das financças da zona euro recusaram uma expansão do fundo de estabilização conduziu a uma subida das txas de juro da dívida portuguesa com os yields a 10 anos a fixarem-se nos 7,07%, os yields da dívida a 5 anos a...
- Governo Impotente
Government Shows Itself Impotent on Economy by Sheldon Richman, July 11, 2012 It should finally have dawned on the American people that the politicians who presume to guide the economy have no bloody idea what they’re doing. We’re long past...
- Dinâmica Da Dívida Pública
Debt dynamics The maths behind the madness The Economist online Our interactive guide to reducing government debtGOVERNMENT debt dynamics, once an esoteric subject of interest only to macroeconomists, are suddenly in vogue. With Greece...
- Expectativas Racionais
Gross: Additional Easing Programs to Push Yields Higher By Liz Capo McCormickBill Gross, manager of the world’s biggest bond fund at Pacific Investment Management Co., said the additional easing programs hinted at by Federal Reserve...