Post by account_disabled on Feb 22, 2024 0:56:23 GMT -5
There were massive sales of debt, which the European Central Bank bought. His intervention prevented a "financial storm" thatwould have triggered the Spanish risk premiumAlarm in La Moncloa: populism is triggering the risk premiumAn economic minister of Mariano Rajoy has recognized this privately. The instability in Greece this Monday put Spain on the brink of a “financial storm.” Only the actions of the ECB managed to offset the massive sales of Spanish debt that occurred as a result of the outbreak of the Greek crisis. The Government publicly maintains these days that Spaniards can rest assured because Spain is “shielded” from a contagion process from Greece. This is how the President of the Government, Mariano Rajoy, and the Minister of Economy, Luis de Guindos, have been expressing themselves to the media since the emergency meeting of the Delegate Commission for Economic Affairs convened this Monday in La Moncloa. In all their appearances, the ministers insist that Spain's main contingency plan is the serious reforms and policies that have been applied in recent years.
Spain, on the brink of a “financial storm” Well, this is not entirely true. According to what sources close to one of the economic ministers of Rajoy's cabinet have told El Confidencial Digital , the Government's concern is "maximum" , despite the obligatory messages of calm from members of the Executive. “Now there is nothing we can do but calm the population,” the minister admits privately. But he warns of the scenario experienced in Spain during the day on Monday: a true horror. He acknowledges that it could have been a “true hell” , due to the cascade of orders to Denmark Mobile Number List sell Spanish debt that followed one another. Only the intervention of the ECB prevented a “financial storm” and considerably minimized the punishment on the country. ECB bond purchases were key This minister recognizes that the presence of the ECB as a buyer allowed investor sales to be offset by the acquisition of bonds by the central bank. This action guaranteed that purchase orders were crossed with the wave of sales.
In this way, the body chaired by Mario Draghi managed to contain the first major contagion effect . He avoided a spiral of distrust in Spain that would have triggered the risk premium and the bond yield. Indicators did not reflect volatility According to the sources consulted, this action explains precisely why these two indicators will not experience a much greater rebound . The opening of the session this Monday indicated that it would be the worst in years. The Spanish risk premium shot up to 190 points, an advance of 65 points , which reflected that the market movements in the first minutes of trading were being very abrupt. But the panic scenario only lasted a few minutes and eased throughout the day, based on the indicators recorded at the close of the session. exp-player-logo Ver más ¿Qué santos se celebran hoy, jueves 22 de febrero de 2024? Lista completa del santoral The bond market also remained stable during the day on Tuesday: purchase of German debt as a refuge and sale of 10-year bonds in peripheral countries such as Spain, Italy and Portugal.
Spain, on the brink of a “financial storm” Well, this is not entirely true. According to what sources close to one of the economic ministers of Rajoy's cabinet have told El Confidencial Digital , the Government's concern is "maximum" , despite the obligatory messages of calm from members of the Executive. “Now there is nothing we can do but calm the population,” the minister admits privately. But he warns of the scenario experienced in Spain during the day on Monday: a true horror. He acknowledges that it could have been a “true hell” , due to the cascade of orders to Denmark Mobile Number List sell Spanish debt that followed one another. Only the intervention of the ECB prevented a “financial storm” and considerably minimized the punishment on the country. ECB bond purchases were key This minister recognizes that the presence of the ECB as a buyer allowed investor sales to be offset by the acquisition of bonds by the central bank. This action guaranteed that purchase orders were crossed with the wave of sales.
In this way, the body chaired by Mario Draghi managed to contain the first major contagion effect . He avoided a spiral of distrust in Spain that would have triggered the risk premium and the bond yield. Indicators did not reflect volatility According to the sources consulted, this action explains precisely why these two indicators will not experience a much greater rebound . The opening of the session this Monday indicated that it would be the worst in years. The Spanish risk premium shot up to 190 points, an advance of 65 points , which reflected that the market movements in the first minutes of trading were being very abrupt. But the panic scenario only lasted a few minutes and eased throughout the day, based on the indicators recorded at the close of the session. exp-player-logo Ver más ¿Qué santos se celebran hoy, jueves 22 de febrero de 2024? Lista completa del santoral The bond market also remained stable during the day on Tuesday: purchase of German debt as a refuge and sale of 10-year bonds in peripheral countries such as Spain, Italy and Portugal.