Halting evictions for two years is playing well in the mortgage-backed bond market, said analysts at Link in Madrid. “During the last week, the price of these securities has seen very little volatility, even considering the spike suffered by the curve of yields on Spanish sovereign bonds.”
By CaixaBank research department | The adjustment taking place in real estate supply and demand is not trivial, particularly in such a heterogeneous and fragmented market as housing that is also subject to significant regulatory changes. However, a detailed analysis reveals that the sector’s adjustment is now closer to the end.
Iris Mir | Beyond who will be leading the country, there’s still a pending issue: How will they rule it. If prosperity have been attained, as numbers show, why not embracing political reform?, wonders Iris Mir.
LONDON | In spite of bad economic figures for the euro zone, more peripheral banks may be enjoying access again to wholesome market credit. Spain continues under the spotlight, though, and the situation could become rather difficult.
Madrid has many reasons to remain cautious on the merits of embarking itself on a no-return ticket to euro-assistance. It doesn’t know for sure the price to pay and the concrete benefits to be reaped.
Renewable energy subsidies could come under revision, as members of the European Commission have criticised their proliferation and lack of clear rules in the sector. Recent studies have noted the impact is increasing over the electricity industry.
Economist Luis Arroyo reminds ECB governor Mario Draghi of his predecessor’s mistakes in blindly fighting inflation when it was economic growth what was, and still is, at stake.
79% of survey respondents expect the European Central Bank will supervise all euro zone banks, in line with the European Commission’s legislative proposal for a single watchdog.
The prime ministers of France and Portugal announce further adjustments for 2013, as Spain did before. But, analysts at CaixaBank note, the lack of detail isn’t encouraging for investors or other euro zone partners, despite the support the ECB promises.
Fresh data from the stock market in Madrid: the average recommendation is of 2.72 points, slightly less buy-prone than last month and the end of year.