L'Irlande vide son fond de réserve pour les retraites des fonctionnaires pour recaver les banques :
|Ireland Sells Pension Assets, Helping Fund EU/IMF Bailout|
|The Wall Street Journal, 04/05/2011 (traduire en Français )|
Ireland sold some investments in its mini-sovereign wealth fund through April to help cover the costs of a bailout deal the country struck last year, its national pension fund said Tuesday.
Chronique de Fiorentino sur un chômage à plus de 20% en Espagne et un début de quasi plein emploi en Allemagne (pour les données d'eurostat, c'est ici) :
|L'édito de Marc Fiorentino|
|BFM Business, Marc Fiorentino, 02/05/2011 (en Français )|
78 milliards d'euros pour le Portugal :
|Portugal Agrees to a $116 Billion Bailout|
|New York Times, Raphael Minder, 03/05/2011 (traduire en Français )|
Portugal agreed on Tuesday to accept an international aid plan of 78 billion euros ($116 billion) that the country’s caretaker prime minister, José Sócrates, suggested would involve more lenient conditions than those imposed on Greece and Ireland in return for similar bailouts.
Mais les taux continuent de monter :
|Despite Portuguese Bailout Deal, Expected To Push Country Into 2 Year Recession, Yield On Its 3 Month T-Bill Auction Rises To Record|
|ZeroHedge, 04/05/2011 (traduire en Français )|
Even though Portugal announced somewhat sparse details of a €78 billion IMF/EU bailout late yesterday, the market was only modestly impressed, and even though Portuguese CDS dropped 29 bps to 620, according to CMA at 10:10 a.m. in London, the country still saw the yield on its just issued 3 Month T-Bills surge to a fresh all time record. From Reuters: "Portugal sold around 1.12 billion euros ($1.66 billion) in three-month T-bills on Wednesday, above the indicative offer, with yields rising from an auction late last month even after the country said it agreed a 78 billion euro EU/IMF bailout. The average yield rose to 4.652 percent from 4.046 percent in an auction on April 20."
Et le point sur les taux à 10 ans :
Et du côté de l'Angleterre, le pays qui essaye (un peu) de tuer le ponzi, l'immobilier repart clairement dans un double dip :
|UK April house price fall biggest y/y in 18 mths-Hometrack|
|Yahoo Finance, 04/05/2011 (traduire en Français )|
House prices in England and Wales fell in April at their fastest annual pace in 18 months and are likely to slip further this year on fears about the economic outlook, Hometrack said on Monday.
The property data firm's monthly survey showed prices were 3.3 percent down in April compared with a year ago, the biggest decline since October 2009, when Britain was emerging from recession.
Et Mervyn King de la BoE avertit qu'une hausse des taux est inconcevable :
|Bank of England Governor Mervyn King warns on interest rate rise|
|The Daily Telegraph, Amanda Andrews, 03/05/2011 (traduire en Français )|
Speaking yesterday at the European Parliament in Brussels, Mervyn King warned that a rise in long-term interest rates would have “severe” consequences.
They are likely to be interpreted as a signal that the MPC will leave UK interest rates unchanged at a record low of 0.5pc.
"The economic consequences of high-level indebtedness now would become more severe if rates were to rise,” Mr King said. “It is the main reason why interest rates are so low.”
“The economic challenges will last for many years...The financial crisis is far from over,”