Friday, October 10, 2008

O fim do dólar?

Normalmente, quando há uma crise na bolsa, os investidores refugiam-se nos titulos do tesouro, fazendo subir o seu preço. No entanto nos EUA parece estar a passar-se algo de estranho: esses títulos também estão a descer.

John Jonhson (que é uma espécie de corretor) sobre o assunto:

The US market has always represented the ultimate safe haven venue yet this morning according to my screen at about 700AM New York time the yield on the 2 year note was actually several basis points higher than where it closed late yesterday. Indeed, the yield on every Treasury issue is higher than the level at which it finished in late trading yesterday.Is this the beginning of the end for the dollar and the Treasury market? Is this the first sign of the bursting of the bubble in Treasury securities? That market, in a sense, represents the ultimate bubble as it exists at the whim and caprice of foreign investors, who have as participants in a Faustian bargain, financed our war(s) and our lifestyle so generously over the last decade. Maybe even that bizarre construct is crashing about us as we speak.

[a yeild que ele fala é, basicamente, os rendimentos que esses titulos dão a dividir pelo seu preço - quando o valor dos titulos desce, a yeild sobe e vice-versa]

1 comment:

Rafael Hotz said...

realmente se não houver a reciclagem nos T-bonds a coisa fica feia pra eles...

teremos que aguardar pra ver...