The markets of Europe: bonds were successively closed the second day raznonapravlennoOn Thursday, on January, 14th, morning session in the market of the European state bonds has passed at a clear advantage market “ bears “. As an occasion to sales of protective actives the positive data of macroeconomic statistics has served. Still the day before FRS the USA has published results of researches of the American economy (Beige Book) according to which, national economy restoration goes rather confidently. To these encouraging news the information from Australia where labour market restoration goes with an advancing of forecasts was added also: population employment has three times surpassed expectations.
to the macroeconomic statistics which has set the fashion to opening of the auctions, also the economic news which have left in the European countries, also supported interest of participants of the market to brave actives subsequently were added. So, the federal statistical bureau in Wiesbaden has informed that inflation in Germany following the results of December 2009ã. It has appeared the highest for last eight months. A consumer price index (CPI) in December 2009ã. Has grown on 0,8 % (growth on 0,7 % was predicted) in comparison with November 2009ã. And on 0,9 % (growth on 0,8 % was expected) in annual calculation. The price index of consumers calculated under standards of an eurozone (CPI - EU Harmonised), has grown in December, in full conformity with expectations of experts, - on 0,9 % in comparison with November and on 0,8 % in annual expression. To acceleration inflation Germany is obliged, mainly, to a rise in prices for energy carriers. However for expired year the prices in the commodity markets have essentially grown also. Many goods - from sugar to copper have sharply risen in price. And with the beginning of restoration of global economy of the price, predictably, will continue to grow. By estimations of economists Bundesbank, during the current year inflation remains rather soft - at level of 0,9 % and an order of 1 % - in 2011ã.
After some hours there was data about is volume industrial production (Industrial Production) eurozones. The data has appeared more than optimistical. Industrial production growth in a zone of the reference of euro is accelerated. In November 2009ã. It has twice surpassed expectations. According to the European statistical bureau Eurostat, industrial output volume (Industrial Production) in November 2009ã. Has grown on 1,0 % (growth on 0,5 % was expected) in comparison with October. In annual expression decrease has appeared considerably smaller (on 7,1 %), than was predicted (on 8,4 %). Thus, the statistican of an eurozone was only strengthened by desire of investors instead of protective actives to fill up the portfolios brave, but more profitable actions.
the Main event of day - decisions ETSB to leave the base rate of refinancing at former level in 1 % of the annual has been so expected that practically has not changed a spirit of investors to sell bonds of the countries of an eurozone. The traditional comment of president ETSB Jean - Claude Trishe has put definitively all points over “ i “. Head ETSB has declared that unemployment continues to grow in Europe, and problems with the budget of such countries of region as Greece, rather complicate process of restoration of economy of an eurozone. Speech of head ETSB has restored lost was in the morning interest to protective actives of an eurozone, and 10 - summer Bunds Germany even has reached a profitableness minimum level in the begun year.
As to the British debt papers decrease in their quotations has been caused not only growth of interest of players to English brave actives, but also gamble round that the Bank of England can start to consider possibility of increase of the base rate of refinancing.
as a result by last minutes trading session the second day mixed dynamics was successively generated. Profitableness 2 - summer Bunds Germany would decrease on 2. The item, 10 - summer has not changed. The spread between them would extend with 210. The item to 212. The item
Results of the auctions by the state bonds of Germany at the London stock exchange at 20:00 Moscow time:
Results of the auctions by the state bonds of Great Britain:
Results of the auctions by the French state papers:
On Friday, on January, 15th, in Germany the data about wholesale prices will be published. According to the experts, an index of wholesale prices in December 2009ã. Has risen on 0,5 %, both in comparison with November, and in annual calculation.
the exit of inflationary statistics of an eurozone Is expected - there is data about the prices of consumers. According to forecasts of analysts, a consumer price index (CPI) in December 2009ã. Has risen on 0,3 % in comparison with November and on 0,9 % in annual calculation. The price index of consumers which is not including the prices for energy carriers and foodstuff (Core CPI), has risen, according to expectations, on 1,0 %.
Besides the inflationary statistics, indicators of trading balance of an eurozone will be published also. Experts believe that November proficiency of trading balance of a zone of euro will make 7,0 mlrd euro in annual expression and 5,0 mlrd euro taking into account the seasonal amendment.
department of the analytical information