Indlela yokufumana kunye nokuhlalutya ama-German Bunds
Kule nqaku, siza kujonga ukuba iziphi iimbundane zaseJamani kunye nendlela abatyali-mali abangasebenzisa ngayo i-bund isasazeka ukujonga impilo yezoqoqosho ezahlukeneyo ze-Eurozone.
Iindlala kunye neBund Spreads
Izibonda zesiJalimane zifana nezibophelelo ezizimeleyo ezifana noNondyebo eUnited States - igama elithi "bund" lithetha isiJamani esithi "isibophelelo". Ezi zikhwebu zithengiswa ngeminyaka emibini, iminyaka emihlanu ubudala, iminyaka engama-10 kunye nokunyuka kweminyaka emashumi amathathu, njengamanye amaninzi aseNtshona aseNtshona.
Izivuno ezihlawulwe kubasomali kule miqulu zibonisa izimo zezimali zombini nakwi- eurozone . Abatyalo-mali abanomdla malunga nekamva lelizwe okanye iimbopheleleko zalo kwixesha le-euro lifuna i-returns ephezulu kwi-investment yabo kwaye ngoko ke ukunyanzelisa iimbophelelo zivelise phezulu, ngoxa abo bafuna indawo ekhuselekileyo banokuvuma ukufumana isivuno esisezantsi. Izivuno ze-Bund nazo ziyakuchukunyiswa yintlawulo yemigangatho yemali kunye nomgaqo-mali ochazwe yi-European Central Bank (ECB).
Ukwahlukana phakathi kweemveliso zesiJamani kunye nalawo mazwe awaziwa ngokuba yi "bund spreads". Ngokomzekelo, ukuba i-Germany iminyaka engama-10 ibhalela i-1.3% kunye ne-Spain ye-10-bond bonds ivumela u-5.5%, kwaye i-bund isasazeka ngeSpeyin iya kuba yi-4.2%.
EYurophu, iJamani ibonakala njengelizwe elikhulu kunye nelinamandla kakhulu, oko kuthetha ukuba izibonda zayo ziphathwa njengezinga legolide lokuthelekisa.
Ukusabalala okuphakamileyo kunxulumene nomngcipheko omkhulu welizwe elithelekiswayo, ngelixa i-bund ephantsi isasazeka ukubonakalisa umngcipheko omncinci welizwe ukuthelekiswa, kuba inqanaba elifanayo lemali kunye nomgaqo-mali usetyenziswa kuwo.
Ukufunda kwi-Bund Spreads
Izibonda zaseJamani zijoliswe ngethuba leNkqubela yeNtlawulo yeMatyala yaseYurophu, ekubeni ihlinzeke ngendlela elula yokubala ukusebenza. Amazwe aseYurophu abhekene nokubona i-bund yabo isasazeka ngokubanzi, njengoko iindleko zabo zokuboleka zakhula ngokukhawuleza kuneJamani. Iimali zenkxaso-mali zihlala zibhekiselele ezi sasaza ukugqamisa amazwe aphikisana nezivuno.
I-bund ethandwa kakhulu ukubukela i-bunds yeminyaka eyi-10, kuba iwa phakathi kweebudlelwane ezifutshane kunye nexesha elide. Kodwa, ixesha leebhondi linokubonelela ngolwazi oluncedo kwimali-zimali kwiindawo ezahlukeneyo zexesha. Ngokomzekelo, izibophelelo zexesha elifutshane zingabonisa ukuba izinto zilungile, kodwa ukuveliswa kwexesha elide kungabonakalisa inkathazo ngaphambili.
Ekugqibeleni, abatyali-mali bajonga iimbumba zesiJamani ngokwabo (ngaphandle kokuthelekiswa) ukulinganisa nokuba ingaba i-market ithengisa indawo ekhuselekileyo. Ngokomzekelo, isivuno esibi kwiminyaka emi-2 sinokubonisa ukuxhalabisa kwexesha elifutshane lotyalo-mali.
Kwimeko yeemveliso ezimbi, abatyali-mali bahlawula elo lizwe ukuba bahlalise imali yabo ngenxa yokwesaba ukulahlekelwa kwenye indawo.
Ukufumana kunye nokuThengiswa kweeNgxowa
Abatyalomali abafuna ukufikelela kwiindawo zokusasaza ukunceda ekuhlalutheni kwabo amalungu e-euro bangafumana ulwazi kwiindawo ezahlukeneyo. Indawo eyaziwayo kakhulu yi-Bloomberg Rates & Bonds section, equlethe iirhafu zakutsha ze-eurozone zoqoqosho, kunye namanye amanani amaninzi eqoqosho emhlabeni jikelele ukuthelekisa.
Abahwebi bekhangela ukwenza iibhendi zecandelo kwi-bund isivuno banokukwenza ngokusebenzisa i-Eurex ye-Euro-Bund izayo, emele i-benchmark ye-German-year bunds. Ngesibhambathiso esingaphezu kwesigidi esithengiswa ngemini, i-derivative yiyona mvumelwano ebaluleke kakhulu ekuthengiswene ngayo kwi-Eurex yokuthengiselana kwemveliso, kuba yindlela elula yokubethelwa kwiimigqa zesiJamani.
Ngaphantsi
Izigulane zaseJamani zimela into ebalulekileyo yeemarike ze-eurozone zemarike , zombini ukuthelekisana namanye amazwe kunye nokulinganisa ukunyamezela kwemali-mali. Abathengisi bangasebenzisa olu lwazi ukwenza iibhentshi zecandelo okanye ukuvavanya ukubeka ingozi kwiiposfoliyo zabo.