22nd Kwiecień, 2013 Brak komentarzy

75 percent but its president, Mario Draghi, faces a grilling

Spanish yields rise as markets brace for testing sale

ECB meeting keeps Bunds range bound

By Ana Nicolaci da Costa

LONDON, Feb canada goose uk outlet 7 (Reuters) Spanish government bond yields rose on Thursday canada goose as investors braced for an auction, while Canada Goose Coats On Sale a potentially testing European Central Bank canada goose uk shop meeting kept German Bunds range bound.

Political uncertainty after Prime Minister Mariano Rajoy faced calls canada goose clearance sale to resign over a corruption canada goose store scandal this week may canada goose clearance dampen investor appetite at the sale, as the country economic outlook remains bleak.

The ECB is later expected to keep interest rates buy canada goose jacket unchanged at 0.75 percent but its president, Mario Draghi, faces a grilling over the bank sensitivity to buy canada goose jacket cheap the euro sharp canada goose coats on sale rise and his connection to an Italian banking scandal which has also unsettled Italian debt markets.

Ten year Spanish government bond yields were 3.7 basis points higher at 5.48 percent, while two year borrowing cheap Canada Goose costs rose 1.9 bps to 2.89 percent.

Spain Treasury aims to issue between 3.5 billion euros and 4.5 billion euros when Canada Goose Parka it sells bonds maturing in 2015, 2018 and 2029.

Marc Ostwald, strategist at Monument Securities, said a failure by Spain Treasury to issue the maximum amount would be disappointing.

The ECB was more optimistic than expected on the region economic prospects at its last meeting, and investors will look to see Canada Goose sale whether it keeps that tone or sounds more cautious.

the danger is we go into the meeting and people are hopeful that he takes a more dovish slant than canada goose coats he Canada Goose Jackets did in January and canada goose uk black friday maybe there is some room for disappointment I suppose that the danger going in, one trader topparka said.

In particular, investors will be watching Draghi assessment of the initial repayments of long term loans or LTROs.

While they are considered a sign of a healing banking sector, they have also led to a spike in bank to banking Canada Goose online lending costs which Canada Goose Online many view as de facto monetary tightening.

The upcoming events kept investors Canada Goose Outlet on the sidelines and German Bund futures in a tight ranges. Bunds were down 6 ticks on the day at canada goose black friday sale 142.48.

will be the slant the related website ECB puts if it does put any canada goose factory sale at all on the cheap canada goose uk recent, uk canada goose very pronounced bout of positivism (after) the LTRO repayment which has served to push up short dated interest rates and significantly strengthen the euro, Richard McGuire, senior fixed income strategist, at canadian goose jacket Rabobank said.

Investors will look to see the ECB believes this to be a justified reaction to a more positive outlook for the banking sector and the region at large or uk canada goose outlet whether it perhaps too much too soon and therefore risks dampening any possible incipient recovery.

An endorsement would leave higher rated paper vulnerable to selling while any concerns raised would support them, he said.

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