'Wzrost chińskiej gospodarki nie może trwać wiecznie' powiedział Greenspan i tym samym sprowadził Dow Jones z powrotem 100 punktów pod kreskę.
NEW YORK (Reuters) -- There is little reason to fear a wholesale pullout by China from U.S. government bonds, former Federal Reserve Chairman Alan Greenspan said Tuesday.
While expressing concerns about China's runaway growth rate and what he described as overvalued stocks, Greenspan played down the prospect that Chinese authorities would sell Treasurys in earnest, forcing a sharp spike in U.S. interest rates.
greenspan1_sept05.03.jpg
Former Federal Reserve Chairman Alan Greenspan
Asked at a commercial real estate conference if investors should be worried about this oft-cited concern, Greenspan said: "I wouldn't be, no."
Still, Greenspan said the reason such a withdrawal was unlikely was that China would not have anyone to sell the securities to, hardly the sort of comfort jittery bond investors were seeking.
U.S. government debt has been under severe pressure over the past week, with yields rising sharply on anxiety over the likelihood that global credit conditions would tighten as the year progresses. Bond prices and yields move in opposite directions.
Greenspan said that a global liquidity boom, which he traced back to the end of the Cold War, would not go on forever.
"Enjoy it while it lasts," he told the audience.
Now a private-sector consultant following more than 18 years at the U.S. central bank, Greenspan reiterated his prediction that China's latest growth spurt had come too far, too fast.
"We cannot continue this rate of growth in China and the Third World. This cannot continue indefinitely," Greenspan said in a speech. "Some of these price/earnings ratios are discounting nirvana."
Greenspan znowu dołuje Wall Street
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Greenspan znowu dołuje Wall Street
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REKLAMA
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Re: Greenspan znowu dołuje Wall Street
Zajebiste odkrycie.'Wzrost chińskiej gospodarki nie może trwać wiecznie' powiedział Greenspan i tym samym sprowadził Dow Jones z powrotem 100 punktów pod kreskę.
NEW YORK (Reuters) -- There is little reason to fear a wholesale pullout by China from U.S. government bonds, former Federal Reserve Chairman Alan Greenspan said Tuesday.
While expressing concerns about China's runaway growth rate and what he described as overvalued stocks, Greenspan played down the prospect that Chinese authorities would sell Treasurys in earnest, forcing a sharp spike in U.S. interest rates.
greenspan1_sept05.03.jpg
Former Federal Reserve Chairman Alan Greenspan
Asked at a commercial real estate conference if investors should be worried about this oft-cited concern, Greenspan said: "I wouldn't be, no."
Still, Greenspan said the reason such a withdrawal was unlikely was that China would not have anyone to sell the securities to, hardly the sort of comfort jittery bond investors were seeking.
U.S. government debt has been under severe pressure over the past week, with yields rising sharply on anxiety over the likelihood that global credit conditions would tighten as the year progresses. Bond prices and yields move in opposite directions.
Greenspan said that a global liquidity boom, which he traced back to the end of the Cold War, would not go on forever.
"Enjoy it while it lasts," he told the audience.
Now a private-sector consultant following more than 18 years at the U.S. central bank, Greenspan reiterated his prediction that China's latest growth spurt had come too far, too fast.
"We cannot continue this rate of growth in China and the Third World. This cannot continue indefinitely," Greenspan said in a speech. "Some of these price/earnings ratios are discounting nirvana."
Powinien dostać za to Nobla z ekonomii.
raka krtani najlepiej zyd *****znowu ta stara ***** zza grobu ***** swoje wizje, po kiego ***** on sie odzywa, trzeba było albo zostać i ok, albo iśc na emeryture i *****, co za dziwka ohydna, żeby zdechł na rakanie noi tego zyda trzeba usmiercic
***** ale mnie wkurwia to stare zydowskie scieerwo
OJ TU BEDZIE JAZDA!!!
"Mogę napluć w mordę każdemu kto powie, że brak mi kultury" A. Lepper
"Mogę napluć w mordę każdemu kto powie, że brak mi kultury" A. Lepper
))) lecim w kosmos :O
zjazd murowany
reasury Yields Rise to Highest in Five Years on Growth Concern
By Daniel Kruger and Elizabeth Stanton
June 12 (Bloomberg) -- Yields on benchmark 10-year Treasuries rose to the highest in five years as signs of accelerating global growth raised concern central banks will increase borrowing costs.
Bond prices slumped after reports in China and Japan showed consumer and producer prices rising, while the head of the U.K. central bank signaled borrowing costs may need to rise to keep inflation from accelerating. The Treasury sold $8 billion in 10- year notes at higher-than-forecast yields.
``I was thinking the market had gotten cheap enough at these levels that some buying would come in,'' said Ray Remy, head of fixed income at Daiwa Securities America Inc. in New York, one of 21 primary dealers obligated to bid at Treasury auctions. ``That hasn't happened. The market is under pressure and will probably remain under pressure 'til Friday'' when the consumer price index for May is released.
The yield on the benchmark 10-year note reached 5.272 percent, before falling to 5.26 percent, an increase of 10 basis points, or 0.10 percentage point, at 3:14 p.m. in New York, according to bond broker Cantor Fitzgerald LP. The price of the 4 1/2 percent note due May 2017 fell 22/32, or $6.88 per $1,000 face amount, to 94 6/32. Bond yields move inversely to prices. The yield on two-year notes rose 5 basis points to 5.07 percent.
The 10-year notes sold at a yield of 5.23 percent compared with the forecast of 5.223 percent by eight bond-trading firms surveyed by Bloomberg News.
The securities, which mature in May 2017, yielded 5.223 percent in pre-auction trading. Ten-year notes hadn't drawn a yield higher than 5.19 percent in an auction since November 2000.
The auction was a reopening, meaning that the notes sold will pay interest at the same rate and mature on the same date as $13 billion of 10-year notes sold last month.
To już nie przelewki zacznie się powolny zjazd w dół. W USA a jak u nas ? Tego nie da się określić ale początki korekty widać jak na dłoni.
By Daniel Kruger and Elizabeth Stanton
June 12 (Bloomberg) -- Yields on benchmark 10-year Treasuries rose to the highest in five years as signs of accelerating global growth raised concern central banks will increase borrowing costs.
Bond prices slumped after reports in China and Japan showed consumer and producer prices rising, while the head of the U.K. central bank signaled borrowing costs may need to rise to keep inflation from accelerating. The Treasury sold $8 billion in 10- year notes at higher-than-forecast yields.
``I was thinking the market had gotten cheap enough at these levels that some buying would come in,'' said Ray Remy, head of fixed income at Daiwa Securities America Inc. in New York, one of 21 primary dealers obligated to bid at Treasury auctions. ``That hasn't happened. The market is under pressure and will probably remain under pressure 'til Friday'' when the consumer price index for May is released.
The yield on the benchmark 10-year note reached 5.272 percent, before falling to 5.26 percent, an increase of 10 basis points, or 0.10 percentage point, at 3:14 p.m. in New York, according to bond broker Cantor Fitzgerald LP. The price of the 4 1/2 percent note due May 2017 fell 22/32, or $6.88 per $1,000 face amount, to 94 6/32. Bond yields move inversely to prices. The yield on two-year notes rose 5 basis points to 5.07 percent.
The 10-year notes sold at a yield of 5.23 percent compared with the forecast of 5.223 percent by eight bond-trading firms surveyed by Bloomberg News.
The securities, which mature in May 2017, yielded 5.223 percent in pre-auction trading. Ten-year notes hadn't drawn a yield higher than 5.19 percent in an auction since November 2000.
The auction was a reopening, meaning that the notes sold will pay interest at the same rate and mature on the same date as $13 billion of 10-year notes sold last month.
To już nie przelewki zacznie się powolny zjazd w dół. W USA a jak u nas ? Tego nie da się określić ale początki korekty widać jak na dłoni.
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