The words of the President of the European Central Bank (ECB) last Friday in the United States, injected confidence in financial markets, so that European stock markets accumulate gains of more than 1% and the interest rates of sovereign debt fell to historic lows. The euro also fell to the lowest level in 11 weeks.
For Portugal, the interest rate of government debt to 10 years fell below 3%, the lowest level ever. The five years, the yield is close to 1.55% and maturity of two years is just over 0.7%.
At a conference in Jackson Hole, which brought together the heads of the most important central banks the world, Mario Draghi said that the trust measures that the ECB has in progress will help to stimulate demand in the euro zone, but added that the institution is prepared to go further if they do not work.
Analysts called to interpret the words of Draghi believe, a large majority in the short term the ECB may use heavier artillery, including a program of quantitative easing similar to what the Federal Reserve still has ongoing and consists in the purchase of assets of sovereign debt.
accuse Draghi’s words, the major European markets are also having a session of gains, with the Euro Stoxx 50 index, which includes the 50 biggest listed companies in Europe, registering an increase of 1.11%, the same as it accumulates Indica of the Paris stock exchange. In Frankfurt, the Dax is gaining 0.98%.
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