DOLLARO A 1,18?
il grafico non lascia dubbio...tra massimi (per l'euro) decrescenti e due minimi per l'euro che preannunciano un terzo minimo in area 1,18.PARE (FINANCIAL TIMES) CHE LE BANCHE EUROPEE SIANO NELLA CACCA VERSO IL DOLLARO E SI RISCHIA UNA VERA CORSA PER COPRIRSI....E QUALCUNA SI FARA' MOLTO MALE.
European banks are facing increasing strains on their balance sheets because of the dramatic jump in the cost to borrow dollars, essential for some institutions as they need to repay loans in US currency.
The cost for European banks to swap euros into dollars has jumped fivefold since June, hitting the highest levels since December 2008, and raising the risk of insolvency in the region’s financial sector.
Strategists estimate European banks face a $500bn dollar funding gap – the sum they need to repay loans and obligations in the US currency over the coming months.
The extra cost to swap euros into dollars, therefore, could make the difference between survival and bankruptcy for some institutions, strategists warn.
French banks, especially Société Générale, have been hit hard by a drying-up of US-based dollar liquidity, as money market funds have retreated from eurozone banks. That, in turn, has depressed their share prices, already jittery due to the lenders’ outsized Greek exposures.
The main reason for the spike in the cost of swapping euros for dollars is the overwhelming demand for the US currency due to its growing status as a haven in the face of rising worries of an imminent Greek default that could spark a deeper sovereign debt crisis.
European banks, which need to borrow dollars to repay loans, face an extra premium of 103 basis points to swap euros into dollars for three-month loans – a dramatic jump since June when they only had to pay an extra 20bp.
Don Smith, economist at Icap, said: “More and more banks want dollars because of worries about the debt crisis in Europe. This leads to a vicious circle where the cost to swap dollars for euros rises and creates even more strains and potentially deeper problems for the financial sector.”
Although the strains are nowhere near the levels seen at the time of the collapse of Lehman Brothers in September 2008 when the dollar funding gap was estimated at $1,000bn, strategists warn that tensions could mount in the coming days and weeks.
The flip side is that it has become cheaper for trusted European banks to issue debt in the US currency because they can swap back into euros for less.
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6 commenti:
perche la Svizzera e no magari San Marino??
è avvilente oltre che terrificante che la ricopertura da euro a dollari sia in fondo l'unica strada per la sopravvivenza , due valute il cui futuro di fiat money sarà enorme Luib
LUIB...concordo al 100% ma questa è la finanza delle bolle ...e prima o poi PUFF....
grande Paolo hai ragione come sempre, avessimo te come premier le cose sarebbero differenti per l'italia.
in effetti lo SBOOM DOOM è solo rimandato e l'USD ora copre il didietro all'Eur, un domani chi lo coprirà all'USD ? Luib
Buongiorno,
vorrei riprendere la domanda di anonimo di 0.22 perche non San Marino? qualcuno ci ha mai avuto a che fare ?
Ale V
sostenitore attivo del Grande Bluff e tra poco anche di ML )))))
Ormai voi europei incapaci siete rovinatti, tornerete da noi in America con le valigie del cartone e il mandolino come tanto tempo indietro. Inutile che predicate nostra distruzionne perche' saremo ultimi a rimanere in piedi e voi primi a cadere in burrone. Never fight USA!
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