每日新闻更新 日本银行、欧洲央行/SECO、卡塔尔 The Daily Update - BoJ, ECB, Volitility / Seco and Qatar

正如市场预期,日本银行再次保持政策不变,政策利率维持在-0.10%,日本政府债券一年筹资80万亿日元,10年期债券收益率约为0%。无独有偶,ETF和J-REIT筹资将分别维持在60亿日元和90亿日元。日本银行重申,将维持其QQE政策立场,控制收益曲线,实现2%的通胀目标水平。

同时,由于私人消费领域的弹性提高,日本央行提高了2018财年之前的经济评估,但降低了未来三年的CPI预测。由于中长期通胀预期滞后,日本央行延迟了实现2%目标值的时间表。它现在预期年度CPI将在2019财年左右实现2%的目标值,这是第六次推迟预期。

总之,日本银行认为经济风险和价格展望仍在下滑,价格势头仍然不坚挺。企业的工资和价格设定姿态仍非常谨慎。欧洲央行将在今天晚些时候,行长德拉吉将在为期两天的会议后讲话,我们认为不会有太多新的信息。

其他地方的债券继续下跌,美林公债波动率指数计算了一月以来2年、5年、10年、30年期的美国基准债券的平均加权波动率,昨天达到谷值48.25。该指数自1988年运行,计算标普500期权的波动性,连续5天低于10,这是该数据1990年启用以来最长的时段。

在我们的市场中,中东债券继续复苏,卡塔尔主权债券再次以高价交易。2040年到期利率6.4%的债券现在已经比最近的低值高出5点,距离今年六月早期出现的年度峰值还差2点。沙特债券表现也不错,我们持有的沙特电力(SECO)利率5.5%,于2044年到期,价格为109美元,今年提高了8.5点。这些债券表现不错,我们认为它们仍能继续提供不错的价值。卡塔尔债券预期收益率为17.87%,要达到公允价值还有100点的价差,这对Aa3评级的债券来说并不差,尽管还需要考虑到政治风险。SECO债券预期收益率大约为21%,要达到公允价格还有112点的价差,对任何风险平衡投资组合是不错的资产。

Please read this important information before proceeding. It contains legal and regulatory notices relevant to the information on this site.

This website provides information about Stratton Street Capital LLP ("Stratton Street"). Stratton Street is authorised and regulated by the UK's Financial Conduct Authority. The content of this website has been prepared by Stratton Street from its records and is believed to be accurate but we do not accept any liability or responsibility in respect of the information of any views expressed herein. The information, material and content provided in the pages of this website may be changed at any time by us. Information on this website may be out of date and may not be updated or removed.

The website is provided for the main purpose of providing generic information on Stratton Street and on our investment philosophy for the use of financial professionals in the United Kingdom that qualify as Professional Clients or Eligible Counterparties under the rules of the United Kingdom Financial Conduct Authority (the "FCA"). The information in this website is not intended for the use of and should not be relied on by any person who would qualify as a Retail Client. Products and services referred to on this website are offered only at times when, and in jurisdictions where, they may be lawfully offered. The information on this website is not directed to any person in the United States. The provision of the information on this website does not constitute an offer to purchase securities to any person in the United States (other than a professional fiduciary acting for the account of a non-U.S person) or to any U.S. person as such term is defined under the Securities Act of 1933, as amended.

The website is not intended to offer investors the opportunity to invest in any Alternative Investment Fund ("AIF") product. The AIFs managed by Stratton Street are not being marketed in the European Economic Area ("EEA") and any eligible potential investor from the EEA who wishes to obtain information on the AIFs will only be provided with materials upon receipt by Stratton Street of an appropriate reverse solicitation request in accordance with the requirements of the EU Alternative Investment Fund Managers Directive ("AIFMD") and national law in their home jurisdiction. By proceeding you confirm that you are not accessing this website in the context of a potential investment by an EEA investor in the AIFs managed by Stratton Street and that you have read, understood and agree to these terms.

No information contained in this website should be deemed to constitute the provision of financial, investment or other professional advice in any way. The website should not be relied upon as including sufficient information to support any investment decision. If you are in doubt as to the appropriate course of action we recommend that you consult your own independent financial adviser, stockbroker, solicitor, accountant or other professional adviser. Past performance is not necessarily a guide to the future. The value of investments and the income from them may go down as well as up. An application for any investment or service referred to on this site may only be made on the basis of the offer document, key features, prospectus or other applicable terms relating to the specific investment or service.

Where we provide hypertext links to other locations on the Internet, we do so for information purposes only. We are not responsible for the content of any other websites or pages linked to or linking to this website. We have not verified the content of any such websites. Such websites may contain products and services that are not authorised in your jurisdiction. Following links to any other websites or pages shall be at your own risk and we shall not be responsible or liable for any damages or in other way in connection with linking.

By using this site, you should be aware that we may disclose any information that we hold about you to any regulatory authority to which we are subject, or to any person legally empowered to require such information.

This website uses cookies to improve user experience, by clicking the "I Accept" button below means you consent to the use of cookies on our website.