Ecco alcuni dati aggiornati sulla situazione dell'economia mondiale, europea ed italiana!
1) Indicatori di produzione industriale, vendite al dettaglio e differenziali di tassi di interesse per la prima metà del 2011 (fonte Der Spiegel): si registra ovunque un rallentamento dell'economia (ma l'Italia sembra essere messa leggermente meglio degli altri paesi PIIGS).
2) Indicatori di crescita economica per il 2011 (fonte FAZ): si registra ovunque un rallentamento dell'economia.
Nel frattempo l'asta di oggi per la vendita dei bondi italiani mostra segni di sofferenza: il bid-to-cover ratio, che misura il rapporto tra domanda ed offerta di titoli di Stato scende a quota 1.279 contro l'1.93 dell'asta precedente, segno che gli investitori stano uscendo dall'Italia. Vedi CNBC 13/9 "Italy 5-Year Auction Bond Yield Hits Euro Era High":
Italy sold 6.485 billion euros ($8.846 billion) of BTP government bonds, including 3.865 billion euros for a new five-year bond on which it paid a 5.60 percent yield, the highest on a five-year bond since the euro's introduction. The amount sold in the auction compared to a 5 billion to 7 billion euros target range for the four auctions, including a 3 billion to 4 billion euros target range for the five-year bond. The bid to cover ratio on the five-year bond fell to 1.279, well below the 1.93 in the previous auction of five-year paper.
La notizia è particolarmente inquietante perchè neppure la Banca Centrale Europea sembra essere riuscita a fermare l'impennata dei rendimenti sui titoli di Stato italiani (che ha raggiunto il 5.60% su una scadenza di 5 anni), per come peraltro ache affermato nel seguente articolo CNBC 13/9 "Euro's Crisis of Confidence: System May 'Go Off the Rails'":
Pressure on Italy mounted on Tuesday at a bond auction that showed the limits of European Central Bank efforts to hold down Rome's borrowing costs by buying government bonds in return for austerity measures to cut its budget deficit. The five-year bond yield hit a euro lifetime high of 5.60 percent despite ECB purchases in the secondary market that led to the resignation of the central bank's German chief economist, Juergen Stark, last Friday.
"Markets want to see decisive action and they want to see someone in control of the situation," said Marc Ostwald, an analyst at Monument Securities in London.
"Nothing that we've had, be it at a domestic level in Italy, be it at a pan-euro zone level, or above all from Germany, indicates that anyone really is getting to grips with presenting euro zone policy with one voice," he said.
A Financial Times report that Rome had asked China to buy "significant" quantities of its bonds in recent talks provided little support.
A Treasury spokesman said Italian Economy Minister Giulio Tremonti met Chinese officials last week including the head of its sovereign wealth fund. But an Italian ministerial source told Reuters that the talks had centered on possible Chinese investments in Italy's industrial sector, not its bonds.
Chinese leaders have repeatedly offered verbal support to Greece, Portugal and Spain but encouraging words have not so far been matched by spectacular action.
Obama's comments suggested that Washington is trying to nudge European governments toward closer fiscal union or a bigger bailout fund to recapitalize teetering banks but European politics, especially in Germany, make that difficult.
The German Constitutional Court last week appeared to rule out issuing common euro zone bonds unless Berlin amended its Basic Law and the EU adopted a new treaty.
Merkel suggested the way forward should involve sharper punishment for states that violate the bloc's budget discipline rules, which have been repeatedly breached in the last decade, including by central euro zone powers Germany and France.
"Until now, for example, if countries violate the Stability and Growth Pact they cannot be taken before the European Court of Justice," she said.
Di fronte a notizie così nere per l'economia mondiale, la proposta tedesca è di portare di fronte alla Corte di Giustizia Europea i paesi che violano il Patto di Stabilità e Crescita...temo che servano idee migliori, oppure serviranno presto altri aggiustamenti nei conti pubblici europei (cioè maggiori tasse, minori servizi pubblici)?
Matteo Olivieri
>> Le informazioni qui contenute non (!) costituiscono sollecitazioni ad investire.
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