Fesso
Leonessa
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.....,neanche del 27.....,ovviamente....
Portogallo Atto XIX - Phoenix Bonds! La Fenice Vola!!!
- Creatore Discussione MagusMerlinus82
- Data di inizio
.....,neanche del 27.....,ovviamente....
shaoulin
Trader de me cojoni
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Portogallo colloca nuovo titolo 15 anni da 3 mld, ordini oltre 15 11/04/2018 18:16 - RSF
...Secondo quanti riporta il servizio Thomson Reuters Ifr, il nuovo bond -- scadenza 18 aprile 2034 cedola 2,25% -- è stato prezzato a reoffer 99,007, per un rendimento di 2,325%,
C'e fame di Porto.
Vediamo a che prezzo sbarca su ETLX.
Sbarcata da oggi su ETLX e MOT
PTOTEWOE0017 bid/ask 100,51/100,77
Per chi ha Binck ed e' investitore professionale avrebbe potuto prenderla in asta a 100.
Lopes
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Lopes
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Mi sembrate troppo ottimisti. Da parecchio tempo i prezzi si sono fermati ...non credo saliranno oltre.
Il volo del Portogallo è alla fine, guardate la Grecia che può prendere il Volo.
01/05/2018 - 03:26 Potrebbe scendere dal 3,5% al 3,4% del bond greco a 10 anni dal 3,86% del periodo corrente
La stretta supervisione quattro volte l'anno in Grecia senza nuova linea di credito, ma con uno stretto controllo simile a quello attuale periodo di memorandum insieme ad un buffer di capitale sufficiente del governo greco e l'estensione del quantitative easing potrebbe portare ad una differenza di Obbligazioni greche e portoghesi sul decennale da 220 a 180 a 160 punti base.
Il Portogallo ha un rendimento obbligazionario decennale dell'1,66% e l'equivalente greco del 3,86%.
Potrebbe scendere dal 3,5% al 3,4% del bond greco a 10 anni dal 3,86% del periodo corrente
01/05/2018 - 03:26 Potrebbe scendere dal 3,5% al 3,4% del bond greco a 10 anni dal 3,86% del periodo corrente
La stretta supervisione quattro volte l'anno in Grecia senza nuova linea di credito, ma con uno stretto controllo simile a quello attuale periodo di memorandum insieme ad un buffer di capitale sufficiente del governo greco e l'estensione del quantitative easing potrebbe portare ad una differenza di Obbligazioni greche e portoghesi sul decennale da 220 a 180 a 160 punti base.
Il Portogallo ha un rendimento obbligazionario decennale dell'1,66% e l'equivalente greco del 3,86%.
Potrebbe scendere dal 3,5% al 3,4% del bond greco a 10 anni dal 3,86% del periodo corrente
vegar
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waltermasoni
Dominican Trader
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Announcement: Moody's: Portugal's credit profile supported by economic recovery and improving budget position
15 May 2018
London, 15 May 2018 -- Portugal's (Ba1 positive) credit profile is supported by its ongoing economic recovery and improving budget position, Moody's Investors Service said in an annual report today. Its credit challenges include moderate potential growth, still elevated debt and a weak banking sector.
The report, "Government of Portugal -- Ba1 positive, Annual credit analysis", is now available on Moody's - credit ratings, research, tools and analysis for the global capital markets. Moody's subscribers can access this report via the link at the end of this press release. The research is an update to the markets and does not constitute a rating action.
"Portugal's economic growth, together with spending controls and declining interest costs, has supported a marked improvement in the country's budget position," said Evan Wohlmann, a Moody's Vice President -- Senior Analyst and co-author of the report. "Portugal's return to private capital markets, the economy's diversification, and relatively high average level of wealth compared to Ba1 peers also support its creditworthiness."
After three years of moderate growth, real GDP growth accelerated to 2.7% year-on-year in 2017, taking real GDP close to pre-financial crisis levels. Moody's expects the pace of GDP growth to ease to 2.1% in 2018 and 1.7% in 2019.
Broad-based investment is expected to continue to play a greater role in driving economic activity over the next two years after the false start in 2015, given rising measures for capital utilisation and that gross fixed capital remains significantly below pre-crisis levels.
Portugal's very high institutional strength recognizes its good track record of implementing the three-year economic adjustment programme with the International Monetary Fund, European Union and European Central Bank, which Portugal successfully left in June 2014. Over the past few years, Portugal has made progress in improving the business environment to help attract foreign direct investment.
The country's low fiscal strength is based on its very high debt-to-GDP ratio, which remains a key factor constraining the sovereign's credit profile, and moderate debt affordability. Nevertheless, Moody's expects that the budget deficit will remain below 3% of GDP in the coming years.
The debt ratio declined materially in 2017 to 125.7% of GDP, although Portugal's debt burden is forecast to still remain elevated at around 117% of GDP in 2021, one of the highest in the sovereign rating universe and well above that of similarly rated peers, which limits the country's ability to withstand future shocks.
Despite improvements, the banking sector remains the key event risk for Portugal's credit profile. This assessment takes into consideration the system's relatively large size, its high level of non-performing loan levels and still weak profitability.
Portugal's sovereign rating would be upgraded to investment grade should Moody's conclude that the positive economic and fiscal trends are likely to be sustained and the rating agency is confident that the very high debt burden will move to a steady, downward trend.
That conclusion would be supported by sustained fiscal improvements pointing to a more consistent record of primary surpluses going forward and by evidence that economic growth continues to remain broad-based, supporting the economy's resilience to shocks. Further progress in the recapitalisation of the weakest banks would also be positive.
However, the outlook could be stabilised if Moody's were to conclude that the government's commitment to fiscal consolidation and debt reduction, or its capacity to achieve that objective, were to wane.
Weaker than expected economic growth or a sharp rise in interest costs, including from a negative confidence shock, would require further fiscal measures to achieve a consistent reduction in the debt burden, which, if not forthcoming, would undermine the basis for a positive outlook.
The need for unforeseen further recapitalisation support for the weakest banks, beyond the limits agreed with the EC, would also be negative.
Subscribers can access the report at: Log In - Moody's
NOTE TO JOURNALISTS ONLY: For more information, please call one of our global press information hotlines: New York +1-212-553-0376, London +44-20-7772-5456, Tokyo +813-5408-4110, Hong Kong +852-3758-1350, Sydney +61-2-9270-8141, Mexico City 001-888-779-5833, São Paulo 0800-891-2518, or Buenos Aires 0800-666-3506. You can also email us at mediarelations@moodys.com or visit our web site at Moody's - credit ratings, research, tools and analysis for the global capital markets.
This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on Moody's - credit ratings, research, tools and analysis for the global capital markets for the most updated credit rating action information and rating history.
Evan Wohlmann
Vice President - Senior Analyst
Sovereign Risk Group
Moody's Investors Service Ltd.
One Canada Square
Canary Wharf
London E14 5FA
United Kingdom
JOURNALISTS: 44 20 7772 5456
Client Service: 44 20 7772 5454
Yves Lemay
MD - Sovereign Risk
Sovereign Risk Group
JOURNALISTS: 44 20 7772 5456
Client Service: 44 20 7772 5454
Releasing Office:
Moody's Investors Service Ltd.
One Canada Square
Canary Wharf
London E14 5FA
United Kingdom
JOURNALISTS: 44 20 7772 5456
15 May 2018
London, 15 May 2018 -- Portugal's (Ba1 positive) credit profile is supported by its ongoing economic recovery and improving budget position, Moody's Investors Service said in an annual report today. Its credit challenges include moderate potential growth, still elevated debt and a weak banking sector.
The report, "Government of Portugal -- Ba1 positive, Annual credit analysis", is now available on Moody's - credit ratings, research, tools and analysis for the global capital markets. Moody's subscribers can access this report via the link at the end of this press release. The research is an update to the markets and does not constitute a rating action.
"Portugal's economic growth, together with spending controls and declining interest costs, has supported a marked improvement in the country's budget position," said Evan Wohlmann, a Moody's Vice President -- Senior Analyst and co-author of the report. "Portugal's return to private capital markets, the economy's diversification, and relatively high average level of wealth compared to Ba1 peers also support its creditworthiness."
After three years of moderate growth, real GDP growth accelerated to 2.7% year-on-year in 2017, taking real GDP close to pre-financial crisis levels. Moody's expects the pace of GDP growth to ease to 2.1% in 2018 and 1.7% in 2019.
Broad-based investment is expected to continue to play a greater role in driving economic activity over the next two years after the false start in 2015, given rising measures for capital utilisation and that gross fixed capital remains significantly below pre-crisis levels.
Portugal's very high institutional strength recognizes its good track record of implementing the three-year economic adjustment programme with the International Monetary Fund, European Union and European Central Bank, which Portugal successfully left in June 2014. Over the past few years, Portugal has made progress in improving the business environment to help attract foreign direct investment.
The country's low fiscal strength is based on its very high debt-to-GDP ratio, which remains a key factor constraining the sovereign's credit profile, and moderate debt affordability. Nevertheless, Moody's expects that the budget deficit will remain below 3% of GDP in the coming years.
The debt ratio declined materially in 2017 to 125.7% of GDP, although Portugal's debt burden is forecast to still remain elevated at around 117% of GDP in 2021, one of the highest in the sovereign rating universe and well above that of similarly rated peers, which limits the country's ability to withstand future shocks.
Despite improvements, the banking sector remains the key event risk for Portugal's credit profile. This assessment takes into consideration the system's relatively large size, its high level of non-performing loan levels and still weak profitability.
Portugal's sovereign rating would be upgraded to investment grade should Moody's conclude that the positive economic and fiscal trends are likely to be sustained and the rating agency is confident that the very high debt burden will move to a steady, downward trend.
That conclusion would be supported by sustained fiscal improvements pointing to a more consistent record of primary surpluses going forward and by evidence that economic growth continues to remain broad-based, supporting the economy's resilience to shocks. Further progress in the recapitalisation of the weakest banks would also be positive.
However, the outlook could be stabilised if Moody's were to conclude that the government's commitment to fiscal consolidation and debt reduction, or its capacity to achieve that objective, were to wane.
Weaker than expected economic growth or a sharp rise in interest costs, including from a negative confidence shock, would require further fiscal measures to achieve a consistent reduction in the debt burden, which, if not forthcoming, would undermine the basis for a positive outlook.
The need for unforeseen further recapitalisation support for the weakest banks, beyond the limits agreed with the EC, would also be negative.
Subscribers can access the report at: Log In - Moody's
NOTE TO JOURNALISTS ONLY: For more information, please call one of our global press information hotlines: New York +1-212-553-0376, London +44-20-7772-5456, Tokyo +813-5408-4110, Hong Kong +852-3758-1350, Sydney +61-2-9270-8141, Mexico City 001-888-779-5833, São Paulo 0800-891-2518, or Buenos Aires 0800-666-3506. You can also email us at mediarelations@moodys.com or visit our web site at Moody's - credit ratings, research, tools and analysis for the global capital markets.
This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on Moody's - credit ratings, research, tools and analysis for the global capital markets for the most updated credit rating action information and rating history.
Evan Wohlmann
Vice President - Senior Analyst
Sovereign Risk Group
Moody's Investors Service Ltd.
One Canada Square
Canary Wharf
London E14 5FA
United Kingdom
JOURNALISTS: 44 20 7772 5456
Client Service: 44 20 7772 5454
Yves Lemay
MD - Sovereign Risk
Sovereign Risk Group
JOURNALISTS: 44 20 7772 5456
Client Service: 44 20 7772 5454
Releasing Office:
Moody's Investors Service Ltd.
One Canada Square
Canary Wharf
London E14 5FA
United Kingdom
JOURNALISTS: 44 20 7772 5456
merazzurro
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..da settimane i btp portoghesi hanno oscillazioni 125/129 circa..ci sarà una direzione precisa prima o poi ? io spero in un ascesa corposa.
mirkosalva
Scusiiiii c'è uno spacciatore in casa?
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Per me è molto improbabile che salgano ancora. Ma spero di sbagliare.
Lopes
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Ma Romania 38 non è un po cara? Comparata con la simile Grecia 37 4% direi che non vale la candela.
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al di lá del fatto che di Grecia ne ho in abbondanza, in parte nuove e in parte vecchie, quindi avrei anche diversificato, la Grecia é ccc+ la Romania bbb- cioé ha l´identico rating del Porto (e considero anche che quando adotterá l´euro le quotazioni potrebbero salire ulteriormente)
Se il rating non interessa allora ne trovi quante ne vuoi di obbligazioni che rendono di piú, poi rischi di fare la fine di chi si é riempito di Venezuela
Lopes
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Sarà anche BBB- contro il CCC+ della Grecia ma il decennale della Romania sta a 4,9% contro il 4,5% dell Grecia. Quindi la cosa è abbastanza strana non trovi?
PS per l'euro credo ci sia da aspettare un po
shaoulin
Trader de me cojoni
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ci sono motivi precisi di un calo di circa il 7x100 del porto 37 di questa settimana?
alexgeotech09
Nuovo Utente
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...la questione relativa al governo italiano ha riflessi anche nei periferici dell'eurozona (tra cui il portogallo).
Juros de Portugal superam os 2% arrastados por Italia - Obrigacoes - Jornal de Negocios
mirkosalva
Scusiiiii c'è uno spacciatore in casa?
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Mah sarà rischio contagio Italico.
Guarda quanto è calato questo BTP 2037 IT0003934657
Ha perso il 7% in un mese (da 124 a 115).