Professional Documents
Culture Documents
Comentario
• Ayer fue un día muy tranquilo por cuanto se refiere a datos macroeconómicos y a anuncios de compañías, pero eso no impidió que ofrecieran buenos resultados
los valores de riesgo. Los índices de renta variable europeos tuvieron buenos resultados, así como el EUR, el CAD y el AUD.
• Intel y Johnson & Johnson serán claves hoy. Este último dará sus datos antes de la apertura de los mercados estadounidenses. Ambos deberían mejorar las
expectativas, por lo que deberíamos ver una subida en las acciones.
• Intel publicó unos datos bastante pobres en el T2, pero mejoró las expectativas del mercado. No obstante, no esperaban muchos cambios en la segunda mitad del
año, por lo que deberíamos esperar una nueva caída masiva de las ganancias interanuales. No obstante, el mercado se va a centrar en las expectativas de los
analistas, que deberían mejorarse.
• Hoy tendremos algunos datos macroeconómicos; el más importante, la encuesta de ZEW. Pero aunque estamos en la temporada de ganancias, no esperamos que
los datos macroeconómicos sean muy importantes, salvo que sorprendan con alguna operación de peso en alguna dirección.
Publicaciones de ganancias
País Hora (GMT) Nombre GPA prevista GPA anterior Comentario
US (G(GMT)(GMT)
Pre-apert Johnson & Johnson 1,132 1,1500
US 16:30 Intel 0,276 0,2000
Informe Diario de Mercado
2,5
120
100
1,5
1 80
0,5
60
-0,5 40
03-jun 03-aug 03-okt 03-dec 03-feb 03-apr 03-jun 03-aug 03-okt 14-10-2008 14-12-2008 14-02-2009 14-04-2009 14-06-2009 14-08-2009
#N/A Requ est n
i g Da t a. . . Saxo CDS Index
USD breakeven 10 Year – an expression for measuring Credit Default Swaps are expressions for the
inflation expectations. perceived default risk in a company. Now at 57.
AAA and BAA Corporate Bonds vs. 30yr US Treasuries
EURUSD Opt. Vol.
35 7
6
30
5
25
4
20
3
15
2
10
1
5
0
feb-08 maj-08 aug-08 nov-08 feb-09 maj-09 aug-09
0
okt-07 dec-07 feb-08 apr-08 jun-08 aug-08 okt-08 dec-08 feb-09 apr-09 jun-09 aug-09 okt-09
M o o d y B A A - US Ge n eric G o vt 3 0 Ye ar Yie ld M o o d y A AA - US Ge n eric G o vt 3 0 Ye ar Yi e ld
EUR- USD OP T VOL 1W EUR- USD OPT VOL 1M EUR- USD OPT VOL 1 Y
Volatility at different time horizons. Too low, now? Spreads are easing, but still showing tight
corporate debt markets.
CEE-German Govt. Bond Spreads CBOE SPX VOLATILITY INDEX
12 50
45
10
40
35
8
30
6 25
20
4 15
10
2
5
0
0
mar-09 apr-09 maj-09 jun-09 jul-09 aug-09 sep-09
dec-08 jan-09 feb-09 mar-09 apr-09 maj-09 jun-09 jul-09 aug-09 sep-09
CBOE SP X VOL AT I LI TY I NDX
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