Νέα της στιγμής Ιανουαριος 2012

Monday, January 23, 10:41 AM The granddaddy of all ETFs - SPY - hit the $100B mark on Friday after hauling in an extra $1.31B during the day. The milestone marks yet another coming-of-age moment for an ETF industry that is still gaining steam.

U.S. stocks closed slightly lower Monday, though the S&P 500 eked out a gain in the final hour of trading, as investors took some cash out of a market that's gained about 20% since early October. "Our concern here is that we've had a lot of good news over the last few months. Now we've seen significant market improvements both here and globally -- this cycle of good news might be coming to an end," said Ken Tower, senior analyst at Quantitative Analysis Service.

Bloomberg reports from ongoing EcoFin meetings that Germany may be prepared to accept parallel deployment of EFSF and ESM

Bloomberg: EU official says the Greek PSI debt deal has not been completely rejected. They agree to continue conversations.

Juncker says the group discussed Italy and Spain's financial troubles. Group commended Italy's Monti for country's measures.

Juncker says the EU group discussed the impact of the recent downgrade of the EFSF by Standard & Poor's.

Juncker says the ESM will now come into play by July of this year.

Juncker says the Greek PSI program will ultimately be aligned with the IMF's interests. Says fiscal text is a good basis for Jan. 30th meet

Juncker says the group is aiming for a treaty to be signed by the start of March.

Juncker says the Greek recovery effort is off track. Action needs to be taken before a new program can be implemented.

EU'S REHN: "Building blocks" are there for Greek debt deal. Greece, banks "very close" to debt-swap agreement.

EU'S REHN: "Preferable" to have debt deal in January.

EU'S REHN: Greek parties expected to commit to second program.

IIF'S DALLARA: Private creditors hold 60% of Greek government debt. Remaining Greek debt is in official hands.

IMF CUTS 2013 GLOBAL GROWTH FORECAST TO 3.9% FROM 4.5%.

Reuters: S&P says likely to declare Greece in default

IMF'S LAGARDE: Greece's default is not an option. Greece and creditors will reach an accord.

IMF'S LAGARDE: Confidence can be restored with Euro firewall, and understands Germany's reluctance to introduce Euro bonds.

IMF'S LAGARDE: Bank recapitalization is under way across Europe.

Η ευρωπαϊκή οικονομία φαίνεται να επέστρεψε στην ανάπτυξη στις αρχές του 2012, δήλωσε την Τρίτη ο Yves Mersch της ΕΚΤ, προσθέτοντας ότι αν υπάρχει ύφεση είναι εξαιρετικά ήπια.

Αναφερόμενος στην άνοδο του δείκτη PMI υπηρεσιών τον Ιανουάριο πάνω από τις 50 μονάδες, ο κ. Μersch υποστήριξε "ότι δείχνει πως η Ευρώπη στο ξεκίνημα του έτους δεν βρίσκεται πια σε συρρίκνωση, η ευρωπαϊκή οικονομία αναπτύσσεται και πάλι".

"Στη χειρότερη περίπτωση πρέπει να έχουμε μια πολύ ήπια ύφεση" σημείωσε ο κ. Mersch κατά τη διάρκεια ομιλίας του στο Λουξεμβούργο.
euro2day

IMF's Lagarde says underlying capacity of EFSF and ESM would give confidence in Europe.

IMF LAGARDE: End of 2012 can be better than end of 2011 for world economy if right decisions made by EMU, US, Japan, other major economies.

GERMAN IFO - BUSINESS CLIMATE [JAN] 108.3 VS. EXPECTED 107.6.

GERMAN CHANCELLOR MERKEL: Steps still needed to regulate "shadow banking". Global financial transaction tax unlikely.

GERMAN CHANCELLOR MERKEL: This is the "tough phase" of Europe. European competitiveness and debt are problems.

EU officials: Euro-zone must lift ESM/EFSF cap to secure G20 IMF commitments, wants G-20 countries to match EUR 200B Europe & IMF commitment

GERMAN CHANCELLOR MERKEL: Doubling rescue funds wouldn't necessarily work.

FED FUNDS RATE UNCHANGED

"EXCEPTIONALLY LOW" RATES THROUGH AT LEAST 2014

FED SAYS "EXPECTS TO MAINTAIN 'HIGHLY ACCOMODATIVE' MONETARY POLICY

FED LEAVES KEY RATE UNCHANGED AT 0.25%.

FED REITERATES `SIGNIFICANT DOWNSIDE RISKS

FOMC : 2% INFLATION "MOST CONSISTENT" IN LONG RUN WITH MANDATE.

SIX OF 17 FED OFFICIALS SEE NO RATE INCREASE BEFORE 2015 WHILE ELEVEN SEE MAIN RATE ABOVE 0.25% IN 2014.

FOMC 2012 Gorwth Forecasts dropped to 2.2-2.7% vs 2.5-2.9%

BERNANKE: Fed aims to support "stronger" recovery.

BERNANKE: reiterates highly accommodative stance.

BERNANKE: Fed expects modest pace of growth in coming months.

BERNANKE: sees "encouraging news" on the economy.

BERNANKE: sees "headwinds" from Europe.

BERNANKE: "prepared to take further steps" if needed. Option of bond purchases is "on the table"(QE3 "definitely on the table).

In Eurozone news, the International Monetary Fund (IMF) is putting the pressure on the European Central Bank (ECB) to also take a haircut on its own €40bn worth of Greek bond holdings, according to the Financial Times. The ECB bought up these sovereign bonds below par value as part of the programme to save Greece from collapse back in 2010 and has also accepted them as collateral as a means of propping up the country’s banks. According to the paper, these bonds currently carry a yield in excess of 7% and the pressure is on the European monetary authority to forgo profits in order to ease Greece’s debt loads.

Σκόντο στο επιτόκιο κάνει ο Dallara

Μια νέα πρόταση των ομολογιούχων για το καυτό θέμα των επιτοκίων θα βρεθεί στο επίκεντρο του νέου κύκλου επαφών που θα έχει από σήμερα το απόγευμα ο επικεφαλής του IIF κ. Charles Dallara με τον πρωθυπουργό και τον υπουργό Οικονομικών.

Σύμφωνα με τραπεζικές πηγές, η επιτροπή ομολογιούχων που συνεδρίασε χθες, Τετάρτη, στο Παρίσι, εξουσιοδότησε τον κ. Dallara να συζητήσει ακόμη και τη μείωση του μέσου επιτοκίου στην περιοχή του 3,65% με 3,7%.

Πρόκειται για βελτιωμένη προσφορά που επιδιώκει να γεφυρώσει την διαφορά που προέκυψε στο προηγούμενο γύρο των διαπραγματεύσεων στην Αθήνα. Τότε οι μεν ιδιώτες έθεσαν ως κόκκινη γραμμή μέσο επιτόκιο της τάξης του 4,2% ενώ ο επίσημος τομέας ( Ελλάδα, Ευρώπη, ΔΝΤ), μετά και την γνωστοποίηση της επικαιροποιημένης εκτίμησης για την ύφεση στην Ελλάδα, απαίτησε μέσο επιτόκιο 3%.

Κλειδί της νέας πρότασης που φέρεται να κομίζει ο κ. Dallara και είναι ήδη εις γνώση της ελληνικής κυβέρνησης, αποτελεί το ότι το επιτόκιο, κλιμακούμενο δεν ξεπερνά το 3% ως το 2020, που αποτελεί και την κρίσιμη ημερομηνία. Υπερπληροί έτσι το κριτήριο που έθεσε το Eurogroup προκειμένου να συμβάλουν οι ιδιώτες κάτοχοι ελληνικών κρατικών ομολόγων στην επίτευξη του στόχου για βιώσιμο χρέος.

Η πρόταση επιδιώκει να βρει τη χρυσή τομή σύμφωνα με τραπεζικά στελέχη ώστε να υπογραφεί, τουλάχιστον, ένα πλαίσιο συμφωνίας για το PSI, εντός των προσεχών ημερών. Ταυτόχρονα όμως αποτελεί και την «κόκκινη γραμμή» για τους ομολογιούχους καθώς με μέσο επιτόκιο 3,6% με 3,7% αποδέχονται ζημιά σε επίπεδο καθαρής παρούσας αξίας που ξεπερνά οριακά
http://www.euro2day.gr/news/economy/124/articles/677068/Article.aspx

EU'S JUNCKER: ECB taking Greek loss "not fully absurd".

EU'S JUNCKER: Greek party leaders should sign new reform act.

EU'S JUNCKER: Greek reforms needed for second aid package.

EU'S JUNCKER: Greece will need EU aid for more than 10 years.

POLAND PM TUSK: Poland will not sign EU fiscal deal if shut out of the decision making process

FITCH RATINGS CUTS BELGIUM TO AA FROM AA+; OUTLOOK NEGATIVE

FIVE EUROZONE SOVEREIGNS CUT BY FITCH.

ITALY L-T IDR CUT TO A- FROM A+; ITALY S-T IDR CUT TO F2 FROM F1 BY FITCH.

SPAIN, BELGIUM, ITALY, SLOVENIA AND CYPRUS CREDIT RATINGS WAS CUT BY FITCH

SPAIN SHORT-TERM IDR DOWNGRADED TO F1 FROM F1+ BY FITCH.

CYPRUS L-T IDR CUT TO BBB- FROM BBB BY FITCH; OUTLOOK NEGATIVE; S-T IDR AFFIRMED.

FITCH: About 1/3 of Cypriot bank assets exposed to Greek debt.

SLOVENIA L-T IDR CUT TO A FROM AA- BY FITCH; OUTLOOK NEGATIVE; S-T IDR CUT TO F1 FROM F1+

IRELAND L-T IDR AFFIRMED BY FITCH, OUTLOOK NEGATIVE.

FITCH: Outlook reflects risk of Eurozone crisis intensifying.

IMF'S LAGARDE: Greece needs short-term action to show it is serious about fiscal adjustment.

IMF'S LAGARDE: Successful Greek outcome requires collective efforts.

Greek government official: There was great progress on legal and technical issues during debt swap talks and talks to continue on Saturday.

IIF says discussions continue tomorrow.

Reuters: Germany said to want Greece to give up budget controls.

Trichet at Davos says Greece needs to adjust as Ireland does

EU LEADERS AGREE ON PERMANENT ESM BAILOUT MECHANISM - WILL COME INTO EFFECT FROM JULY, NEW TREATY WILL BE SIGNED. - Officials