{"id":120406,"date":"2015-04-08T16:24:01","date_gmt":"2015-04-08T16:24:01","guid":{"rendered":"https:\/\/bm.dev.synology.me\/?p=120406"},"modified":"2015-04-08T16:24:01","modified_gmt":"2015-04-08T16:24:01","slug":"elvetia-prima-tara-care-vinde-obligatiuni-pe-10-ani-la-un-randament-negativ","status":"publish","type":"post","link":"https:\/\/bm.dev.synology.me\/?p=120406","title":{"rendered":"Elve\u0163ia, prima \u0163ar\u0103 care vinde obliga\u0163iuni pe 10 ani la un randament negativ"},"content":{"rendered":"<p>\n<strong>O serie de \u0163\u0103ri europene au v\u00e2ndut, \u00een ultima perioad\u0103, titluri de stat cu randamente mai mici de 0% pe an, ceea ce \u00eenseamn\u0103 c\u0103 investitorii au pl\u0103tit pentru privilegiul de a cump\u0103ra datoriile guvernamentale, \u00eens\u0103 maturit\u0103\u0163ile nu au dep\u0103\u015fit p\u00e2n\u0103 acum o perioad\u0103 de cinci ani, potrivit <a href=\"http:\/\/www.wsj.com\" target=\"_blank\">Wall Street Journal<\/a>.<\/strong><\/p>\n<p>\nUn randament at\u00e2t de sc\u0103zut ob\u0163inut \u00een cadrul unei licita\u0163ii &#8220;ilustreaz\u0103 lumea \u00een care tr\u0103im&#8221;, a spus Jan von Gerich, strategist \u015fef al b\u0103ncii suedeze Nordea Bank, cu referire la sc\u0103derea abrupt\u0103 a costurilor de finan\u0163are ale statelor din Europa pe fondul m\u0103surilor de relaxare monetar\u0103 implementate de Banca Central\u0103 European\u0103 (BCE).<\/p>\n<p>\nLa precedenta licita\u0163ie de obliga\u0163iuni pe 10 ani, din ianuarie, Elve\u0163ia a oferit investitorilor un randament de 0,011% pe an.<\/p>\n<p>\n<strong>&#8220;Combina\u0163ia dintre \u00eengrijor\u0103rile privind defla\u0163ia \u015fi ac\u0163iunile agresive ale b\u0103ncilor centrale a f\u0103cut ca investitorii s\u0103 accepte realitatea randamentelor negative pentru obliga\u0163iuni. Un randament negativ \u00een cadrul unei licita\u0163ii de stat semnaleaz\u0103 lipsa de \u00eencredere \u00een r\u00e2ndul investitorilor privind cre\u015fterea economiei pe termen scurt&#8221;, a declarat Jeffrey Sica, ofi\u0163er \u015fef de investi\u0163ii la fondul de investi\u0163ii american Circle Squared Alternative Investments.<\/strong><\/p>\n<p>\n\u00cen ianuarie, banca central\u0103 a Elve\u0163iei a renun\u0163at la plafonul minim de 1,2 franci\/euro, m\u0103sur\u0103 adoptat\u0103 \u00een luna septembrie 2011, \u015fi a redus rata pentru facilitatea de depozit la minus 0,75%. Obliga\u0163iunile emise de Elve\u0163ia vor r\u0103m\u00e2ne o investi\u0163ie atractiv\u0103 at\u00e2t timp c\u00e2t randamentele nu scad sub acest nivel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elve\u0163ia a atras miercuri aproape 232,5 milioane de franci (222,6 milioane euro) din v\u00e2nzarea de obliga\u0163iuni pe 10 ani la un randament de minus 0,055% pe an, devenind primul stat din lume care emite titluri cu aceast\u0103 maturitate la un randament negativ.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[510],"tags":[7553,369,40157],"class_list":["post-120406","post","type-post","status-publish","format-standard","hentry","category-actualitate","tag-elvetia","tag-obligatiuni","tag-randament-negativ"],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/120406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=120406"}],"version-history":[{"count":0,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/120406\/revisions"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=120406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=120406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=120406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}