Market's evolution 08 of June to 12 of June 2015

Market's evolution 08 of June to 12 of June 2015


Week in the markets was dominated once again by the news that flowed on the possible resolution of the Greek bailout. It seems a haircut to be assumed by the Hellenic country creditors, but reforms required in Exchange are hardly being accepted by the Government of Tsipras. Therefore, negotiations have taken a more political than economic approach, directly involving  the leaders of France, Germany and the EU.

So, during the week the stock market rose sharply as the ECB increased in 2,3 billion euros the emergency line to Greek banks and confirmation of a meeting between the aforementioned political leaders to try to close the eternal agreement was released. When it seemed that it was closer to finding a solution, the IMF quit negotiations, causing a reversal in the markets on Thursday.

In this sense, the week was back and forth to the main equity markets, who faced key supports, leaving rates barely changed between EuroStoxx50 -0.3% and 0.2% of the S & P500. Mostly positive macroeconomic data were ignored by markets.

Looking at the fixed income market, German bonds had a better tone lowering their yield to 0.83%. However, maintenance of rates in the periphery did increase the risk premium of the Spanish bond.

With regard to currencies, the euro appreciated slightly against the USD, helped by the rise in prices of German debt and the realization that domestic consumption contributed to the in GDP in the Eurozone.

Oil barrel price rose slightly, ending the week above 63 USD.